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Business / Trade in Africa

  • BRICS leaders at G-20 summit

    CHINA, 2015/11/16 Chinese President Xi Jinping on Sunday called on BRICS nations to strengthen confidence in increase and boost coordination within the emerging-market bloc so as to jointly cope with world challenges. Acknowledging that the five nations — Brazil, Russia, India, China and South Africa — are facing increasing complexities and difficulties and experiencing slower increase, Xi proposed that they upgrade their economic structures for long-term development. “China stands ready to share development opportunities with other BRICS nations and lift our economic cooperation,” he said at a BRICS leaders’ conference held in the Turkish resort city of Antalya on the sidelines of a Group of 20 (G20) summit. “Pure gold fears no fire,” Xi stressed. “As long as we hold firm confidence and strengthen coordination, the BRICS nations will surely sail through winds and waves.”

  • EGYPT strengthens UK relations as President El Sisi visits Westminster

    EGYPT, 2015/11/08 Egyptian President Abdel Fattah El Sisi says that his visit to Westminster this week to meet Prime Minister David Cameron “can serve as a stepping stone towards achieving advancing coordination between the two nations”, particularly in the struggle against world extremism and shared political and economic interests. In the following statement written exclusively for this Upper Reach statement, President El Sisi as well points to the major steps taken by Egypt in returning the country to political and economic stability during his initial year in office Statement by President Abdel Fattah El Sisi, November 2015 Egypt has embarked on a new era of political stability and market-led economic increase. Next a period of political uncertainty and economic stagnation, Egyptians have resolved to advance democratic transformation with the adoption of our Roadmap to the Next. The initial milestone of this roadmap was fulfilled with the passage, through popular vote, of a new constitution that nurtures the values of democracy and human rights.

  • EU Earmarks €6.5 Billion Trade Development Grant for Nigeria

    EUROPEAN UNION, 2015/11/03 The European Union (EU) is to provide financial trade-related development assistance for Nigeria's increase and development, through a trade grant of about €6.5 billion (about N1.6 trillion) for each four years, till 2035. The EU Ambassador and Chief of EU Delegation to Nigeria and ECOWAS, Mr. Michel Arrion, who disclosed this during a media luncheon to announce the 4th EU-Nigeria business forum, explained that the move was to demonstrate the union's strong belief and confidence in the Nigerian market.

  • Global corporate financier Export Development Canada (EDC) opens representation in Johannesburg

    CANADA, 2015/10/31 Export Development Canada (EDC), Canada’s official trade finance agency, today emphasised its commitment to facilitating business in sub-Saharan Africa by opening a permanent representation in Johannesburg. As one of the major and most progressive export credit agencies in the world, EDC has helped facilitate additional than USD 7.4 billion in business between African and Canadian companies over the completed five years. EDC’s financing is available to sub-Saharan corporations and project owners that have, or are open to considering, business with Canadian companies, or their affiliates in the region.

  • EDC aims to grow its total business in Africa to USD 10 billion in the next five years

    CANADA, 2015/10/31 Export Development Canada (EDC), Canada’s official trade finance agency, today emphasised its commitment to facilitating business for sub-Saharan Africa by opening a permanent representation in Johannesburg, South Africa. As one of the major and most progressive export credit agencies in the world, EDC has helped facilitate additional than USD 7.4 billion in business between African and Canadian companies over the completed five years, USD 235 million of which has been with Nigeria. EDC’s financing is available to sub-Saharan corporations, project owners and banks that have, or are open to considering, business with Canadian companies, or their affiliates in the region. In Nigeria, EDC will initially be focusing on facilitating business between Canadian companies and Nigerian enterprises in the extractive industries, infrastructure, power, transportation and ICT.

  • The longstanding relations between Ethiopia and Egypt are growing by leaps and bounds in recent years

    EGYPT, 2015/10/10 Relations between Ethiopia and Egypt can be traced back thousands of years and further attached to a natural phenomenon, the Abay River, commonly known as Blue Nile outside of Ethiopia. T he river is a decisive factor in relations between Ethiopia and Egypt. similarly, both religions of Christianity and Islam have as well played significant role in their relations. It is to be recalled that Ethiopian Orthodox Tewahido church and Coptic church of Egypt was under one umbrella until 1959. Ethiopian Muslims are as well closely associated to Al-Azhar in Cairo, where they have their own column to study under, named Al-Jabarta Column, under which numerous scholars studied. The longstanding relations between Ethiopia and Egypt are growing by leaps and bounds in recent years. The recent government officials, public diplomacy and religious leader exchange of visits between the two nations help the two nations to further cementing relations. To mention some but few, the late Abune Paulos, Patriarch Ethiopian Orthodox, visited the Coptic church in 2003/4, by the invitation of late Pop Shenouda III extended to him. The Coptic church as well paid visit to Ethiopia by the year 2007/8. It resulted in signing cooperation protocol agreement. The exchange of visits between the two church leaders are believed to consolidate strong relations beyond religious issues.

  • The 18th session of the Algerian-Tunisian Monitoring Committee

    TUNISIA, 2015/10/10 The 18th session of the Algerian-Tunisian Monitoring Committee shows the will of President Abdelaziz Bouteflika and his Tunisian counterpart, Beji Caid Essebsi, to raise bilateral relations to the highest level, Minister of Maghreb Affairs, African Union and Arab League Abdelkader Messahel said Thursday in Tunis. The session comes as part of preparations for the high joint commission conference in Algiers on October 25-26, under the co-chairmanship of Prime Minister Abdelmalek Sellal and the chief of Tunisian government, Habib Essid, Messahel said. The minister said he was pleased with the mobilization of joint resources to face security challenges relating to the escalation of terrorism, organized crime, arms dealing and illegal immigration.

  • As EU's Sledgehammer Falls on Nigeria's Food Export

    EUROPEAN UNION, 2015/10/09 Following the ban on Nigerian food export to European nations by the European Union, stakeholders have been lamenting its implications and have, in the same vein, been proffering solutions to forestall a recurrence, writes Olaseni Durojaiye The ban on the export of agricultural produce from Nigeria by the European Union, which stakeholders insisted would cost the country's export sector huge revenue loss, has continued to elicit lamentations beyond the shores of the country. Findings showed that some African shop owners in some European nations have started to count the cost of sourcing some of the banned products just as some industry stakeholders have blamed the ban on the penchant for cutting corners part Nigerians involved in export business.

  • U.S.-Led Trade Mission to Africa

    UNITED STATES, 2015/10/09 The U.S. Embassy to Addis Abeba, through its Foreign Commercial Service office, welcomed Ten U.S. Companies to Ethiopia this week as part of the major U.S. government-led trade mission to Africa in history. The companies went through a day of meetings with Ethiopian government officials and area businesses, in an effort to facilitate new U.S.-Africa business deals. The Ethiopia visit was part of the U.S. Department of Commerce's Trade Winds - Africa trade mission, which is from presently on bringing additional than 100 U.S. companies to eight Sub-Saharan African markets. "Ethiopia is at the forefront of Africa's economic development," said Patricia M. Haslach, U.S. Ambassador to Ethiopia. "The country has shown its commitment to trade and investment through its Increase and Transformation Plan, and the United States government and the U.S. business community see Ethiopia as an significant partner."

  • Kenya wants the world's top seven economies to provide "political guidance"

    KENYA, 2015/10/09 Kenya wants the world's top seven economies to provide "political guidance" for negotiations ahead of a world conference on trade that is scheduled for Nairobi in December. Foreign Affairs Cabinet Secretary Amina Mohamed on Tuesday said the G7 nations are in a better place to offer direction particularly on contentious issues of international trade. "We must leave confrontation behind and work together respectfully and with sensitivity. "The G7 can, therefore, give guidance that would shape the outcome of the World Trade Organisation (WTO) Ministerial Conference. As the leading economies, you have a appropriate responsibility to make the Nairobi forum a," she told an informal conference of G7 trade ministers in Istanbul. G7 nations include the United States, the United Kingdom, France, Italy, Japan, Canada and Germany.
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