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tralac’s Daily News Selection
The selection: Tuesday, 26 April 2016
Featured blog: 'Measuring the pulse of Africa one phone call at a time' (Alvin Etang Ndip, World Bank)
Northern Corridor Integration Projects summit: communiqué
The Summit welcomed the progress made in the implementation of the various projects and reiterated their resolve to continue fast tracking the Northern Corridor Integration Projects in order to accelerate regional integration and improve the livelihood of citizens. The Heads of State stressed the need to implement the projects with a sense of urgency and resolve outstanding issues by the 14th Summit [in Kenya, at a date to be determined].
DRC eyes membership of East African railway project (StarAfrica)
DRC first hinted on the possibility of joining the SGR project during the 11th summit held in Nairobi. Sections of the Ugandan stretch of the SGR line from Pakwach will go through Goli Customs in Nebbi District and Vurra Customs in Arua District. Both customs are vital entry points into north-eastern DRC. Kabila said his country has already made an international call for feasibility studies on the SGR and expressed optimism that by the end of May the company to conduct the study would be selected. [Atanas Maina: SGR will spur economic development in East Africa]
The Intra-African Trade Finance and Payment Systems Conference (Afreximbank)
Leaders of Africa’s top financial institutions will gather in Abidjan (2-3 May) for the first ever continental conference looking at the current state of intra-African trade finance and payment systems and at their impact on the drive to achieve enhanced trade among the countries of the continent. Dr Benedict Oramah, President of Afreximbank, said the conference was a concerted effort by Afreximbank to ensure the immediate and effective implementation of its recently-launched Intra-African Trade Strategy.
African firms cut investments as business confidence wanes - survey (Vanguard)
More than half of African businesses reduced investments in capital projects in the first quarter of the year due to gloomy economic outlook and declining business confidence. This was one of the highlights of the latest Global Economic Conditions Survey. At the global level, the GECS showed that in Q1 businesses were less optimistic about their prospects than at any other time in the past four years. [Download]
Zimbabwe: AfDB approves $25m trade finance facility to boost local firms
Including roll-overs, it is projected that the facility will finance approximately $150m of trade over a three and half year period. This facility contributes to scaling up of AfDB’s interventions in supporting the economic turnaround necessary to reposition Zimbabwe as a major productive centre in the Southern African region.
Tanzania: Industrialists root for huge cuts on five major taxes (IPPmedia)
The Confederation of Tanzania Industries has proposed lowering of five key taxes by over 50% in this year’s budget, including the Railway Development Levy, which was introduced last year to raise funds for mega projects in the sub-sector. According to its proposals to the Task Force on Tax Reform for 2016/17, cutting the charges would have multiple benefits to households, the local manufacturing sector and the national economy at large.
Soybean Challenge Fund: update (EA Business Week)
FoodTrade East and Southern Africa (FoodTrade ESA), has launched a maximum £800,000 ($1.14m) Soybean Challenge Fund that is open to applicants in Tanzania and eight other countries across East and Southern Africa.
AGOA extension ‘aims to develop ties’ (Business Day)
Speaking on the sidelines of a function to celebrate the return of US meat products to SA, Mr Gaspard said the extension of AGOA by 10 years was aimed at giving time and space for a "more dynamic" trade relationship. The US was hoping to leverage its strengths in information technology and renewable energy as it broadened its trade with SA, he said. This could include investments in SA infrastructure such as ports, and in general getting SA’s goods to market.
University of Johannesburg launches industrial policy degree programme (GCIS)
The Master of Philosophy Degree Programme on in Industrial Policy is a joint initiative between the African Institute for Economic Development and Planning and the University of Johannesburg. It is aimed at serving the needs of African countries at a time when industrial policy has re-emerged alongside national development planning and regional integration as core strategies for achieving structural transformation across the continent. The objective of the course is to strengthen the capacity of African policy officials and other development actors to conceptualise, design, implement, monitor and evaluate industrial policies and strategies in an age of intense multi-level globalisation.
More cash in support of Africa-focused case studies at UCT business school (Business Day)
A case study centre that aims to contribute to the "decolonisation" of the business school curriculum in Africa, will be set up in Cape Town as a result of a R1m investment by the University of Cape Town’s Graduate School of Business and a similar amount by the Harvard Business School alumni club of SA. Prof Baets said the GSB case study centre aims to create a library of material on emerging market business and social innovation that will be the largest of its kind on the continent.
South Africa: Tourism and migration, February 2016 (StatsSA)
The breakdown of the tourists by region is as follows: 234 707 from overseas; 553 013 from the SADC countries; 15 149 from 'other' African countries and the country of residence of 901 tourists was classified as unspecified. [Egypt tourism revenue down 66% in Q1 2016]
Chinese given insight into Uganda labour laws (EA Business Week)
The Federation of Uganda Employers (FUE) has conducted a one day labour laws education seminar to all Chinese companies operating in Uganda to help them understand labour laws of Uganda. According to Medard Lubega Sseggona, the FUE lawyer and who conducted the sensitization seminar, Chinese investors/companies are supposed to employ people on contract. The seminar also coincided with the launching of a simplified guide of labour laws that were written in English and translated into Chinese. The Guide was also launched in Kenya and Tanzania other East African Community partner states.
Nigeria-China Business Forum: President Buhari's address (Nigerian Bulletin)
We are committed to supporting investors looking to set up manufacturing and processing facilities in Nigeria. This is evident by the appointment of a former investment banker and private equity specialist as my Minister of Industry, Trade and Investment. As someone with experience of investing in Nigeria, he has first-hand knowledge of the challenges investors face when coming to Nigeria. Already, the Ministry of Industry, Trade and Investment is working on projects and programs that will correct the wrongs of the past and enhance the ease of doing business in Nigeria. This will be complemented by investment tax incentive programs, our public sector reform initiatives as well as our zero tolerance stance on corruption.
South Africa, Iran Business Forum: President Zuma's address (The Presidency)
I welcome the Memorandum of Understanding on the establishment of the Joint Investment Committee which puts in place, a measured and pragmatic form of cooperation. I am of the firm belief that these measures will enable us to significantly increase our levels of trade. I believe the MoU on Cooperation in the Field of Trade and Industry that we signed today, which was one of eight MoUs that were signed, and the accompanying Roadmap provides a good departure point for strengthening our economic cooperation. It aptly outlines the objectives that both our sides wish to achieve. I, however, believe that this would not be optimally realized in the absence of your involvement, as the Captains of Industry. It is in this regard that I welcome the establishment of the envisaged South Africa-Iran Business Council. It is imperative that the Council members streamline their planning so as to complement the objectives of the Roadmap. [Joint communiqué]
UNSC debate: Rising crime in Gulf of Guinea contrasted with declining East Coast pirates (UN)
The Security Council (Monday) expressed its deep concern over piracy and armed robbery at sea in the Gulf of Guinea, and stressed the importance of a comprehensive approach — led by States of the region, with international support — to address the problem and its root causes. Issuing presidential statement S/PRST/2016/4, the Council strongly condemned acts of murder, kidnapping, hostage-taking and robbery by pirates in the Gulf, and underlined the importance of determining any links between piracy and armed robbery at sea, and terrorist groups in West Africa and the Sahel subregions. It encouraged regional organizations — including the AU, ECCAS, ECOWAS and the Gulf of Guinea Council — to enhance cooperation on maritime safety and security, calling upon States in the region to criminalize piracy and armed robbery at sea under their domestic laws. It welcomed the Extraordinary Summit of the AU to be held in Lomé, Togo, on 15 October, which was expected to adopt a charter on maritime safety and security, as well as economic and social development in Africa. [Nigeria loses $1.5bn monthly to robbery, piracy at sea]
Africa-Arab Partnership: senior officials meeting (AU)
The 4th Africa-Arab Summit [to be held in November] will review developments in all sectors elaborated in the Partnership Strategy. It will also monitor implementation of the 8 Resolutions it adopted during its 3rd Session in Kuwait in November 2013. The Summit will, however, give special emphasis to the following five priority areas: political developments/terrorism, development financing, agricultural development and food security, disaster response fund, migration.
Cheap oil means a new reality for Middle East, North Africa region (IMF)
The IMF’s Regional Economic Outlook Update for the Middle East and Central Asia projects that growth this year will be about 3%. Although slightly higher than in 2015, the modest pick-up largely reflects increased oil production in Iraq and post-sanctions Iran. Growth in most other oil exporters, however, is projected to slow further this year as they tighten public spending in response to lower oil prices. The latest report has downgraded 2016’s growth projections in almost all MENAP oil exporters relative to the projections made last October. “The fall in oil prices has led to large export revenue losses: a staggering $390bn last year and the expectation of a further $140bn this year,” Ahmed told reporters.
BRICS Bank: activists worried about lack of transparency (The Wire)
Activists from the BRICS countries, however, are dissatisfied with the way things are functioning at the NDB, and have called for transparency as well as clear and stringent social and environmental protections. “This is an unhappy beginning for a development institution,” stated Bonita Meyersfeld, director of the Centre for Applied Legal Studies at the University of the Witwatersrand, South Africa, in a press release issued by civil society organisations. In a letter signed by five activists (each from a different BRICS country) sent to the president of the NDB on April 4, they state:
Improve coordination, partnership in geospatial information management, conference concludes (UNECA)
Nyusi agrees to Shire-Zambezi waterway – Malawian press cheers (Club of Mozambique)
Kenya: 2015 Citizen Report Card (SID)
Uganda: Traders petition Parliament over Kenyan debt (New Vision)
Barclays Africa may end up in private hands (Moneyweb)
Bob Diamond could face grilling by shareholders over Barclays Africa bid (The Guardian)
Kenya in fresh search for consultant to audit Tullow’s operations (Business Daily)
New technologies boost efforts to cut down on environmentally harmful “ghost fishing” (FAO)
UNCTAD multi-year expert meeting on commodities and development
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