Nigeria begin their World Cup campaign against Croatia on June 16 in Kaliningrad, before facing Iceland on June 22 and then Argentina on June 26.
|Djibouti hopes to reach a rapid and equitable solution that is in accordance with the law|
DJIBOUTI CITY, Djibouti, June 12, 2018/ — On 22 February, the Republic of Djibouti (www.Presidence.dj) terminated the DCT (Doraleh Container Terminal) concession, in which DP World is a shareholder and operator. This decision was taken after numerous unsuccessful attempts to get DP World to renegotiate a contract that was clearly contrary to the fundamental interests of the nation.
This termination is a sovereign decision, part of a legal procedure, and executed at the end of a transparent process. It was instigated by an unfair and unbalanced contract, the clauses of which imposed unacceptable limits on Djibouti’s development policy. The decision is linked to an exceptional and aberrant situation that by no means calls into question the strength or credibility of the signature of the Republic of Djibouti.
The decree terminating the concession, as well as the law governing it, provide for a compensation procedure in accordance with commonly accepted international rules and practices. This compensation procedure will continue, despite the obvious unwillingness of the former partner. Djibouti hopes to reach a rapid and equitable solution that is in accordance with the law.
The termination of the contract has in no way stopped port operators from expressing their confidence and interest in the new public structure that has taken over its management – SGTD (Doraleh Container Terminal Management Company). Singaporean ship-owner PIL signed an agreement in March to triple transshipment traffic handled by the terminal. Numerous discussions are underway with other major players in the sector. The port’s productivity has undergone a marked increased since its operation was placed in the hands of its Djiboutian managers.
Djibouti’s scope and ambition goes way beyond the success of Doraleh port. Major investments are ongoing and the amounts committed attest to the confidence of international partners: the Djibouti-Addis-Ababa railway line, Tadjourah mineral port, Goubet port, Doraleh multipurpose port, the start of construction work on the new Djibouti mega free zone in Khor Ambado and the launch of the Damerjog industrial development free zone, etc. One of the more recent agreements is for an ambitious energy sector project. The first phase provides for the commissioning of a gas pipeline between Ethiopia’s Ogaden Basin natural gas fields and the coast of Djibouti. The second phase concerns the construction and operation of a natural gas liquefaction plant and a gas terminal in the Damerjog area, all privately financed by the mega project’s developer, China’s POLY-GCL Petroleum Group Holdings Limited, to the tune of US$4 billion.
These major projects are being undertaken within a particularly attractive macroeconomic and regulatory framework. Economic growth is expected to remain at high levels – around 7% for 2018 and 2019 – making Djibouti one of Africa’s top ten economies in terms of growth. The Djiboutian Franc is a stable currency, pegged to the US dollar, freely convertible (without restriction) and its exchange rate has remained unchanged since 1973.
The sustainability of these investments is buoyed by the Republic of Djibouti’s ambition and by excellent medium- and long-term prospects, since Djibouti is strategically located at the crossroads of one of the busiest shipping routes in the world, linking Europe, the Far East, the Horn of Africa and the Persian Gulf. Quite naturally, Djibouti positions itself as the main gateway to East Africa, and particularly Ethiopia, an emerging nation of 100 million people and the Republic of Djibouti’s leading strategic partner. While maintaining very close relations with its other traditional partners, Djibouti is linked to China’s big New Silk Road development strategy. In reality, Djibouti is the entry point to a formidable logistics corridor designed to serve an emerging African continent.
Djibouti’s investment ambitions are being rolled out in a context of optimal security. Its solid institutions guarantee stability and visibility in an often difficult regional context. It is a welcoming land where dialogue is key. The country’s respect for its international commitments since its independence has made it a reliable and respected player in the concert of nations. Djibouti is an essential partner for peace, and a stalwart in the fight against terrorism and piracy, hosting on its territory American, Chinese, French, Japanese, European (Operation Atalanta) and Saudi military bases. Thus Djibouti ensures the de facto safety of the world’s main shipping route through which 70% of international traffic passes.
|AIS 2018 focused on innovative and disruptive solutions to the major challenges facing African countries, which include energy access, water, food insecurity, health systems, and governance|
| KIGALI, Rwanda, June 11, 2018/ — The Africa Innovation Summit (AIS) (www.AfricaInnovationSummit.com) closed on Friday with a resonating call to action addressed to innovators, government leaders, private sector, civil society and academia: “Let us throw out the boxes that have caged us”. The overwhelming view of the Summit was that in order to nurture, empower and propel African innovators and their solutions forward, a multi-sectorial and multi-stakeholder approach must be taken to ensure policies, investments and enabling ecosystems are put in place to support African innovation without apology or hesitation.
Some of the Summit’s themes, which were explored in action-oriented workshops from 6-8 June 2018, included the following, to mention a few:
Speaking about the role of government, Mr Carlos Lopes, former Executive Secretary of the United Nations Economic Commission for Africa (UNECA), said: “It is not a question of knowing what is right but doing what is right. We need to be tough with our leaders. It is a pre-condition for change. We have a wave of transformation in Africa. There is political will to translate Africa’s dreams into practical tools. We need to harness our negative energy and change it into dynamism.”
From 600 applications of the 44 countries, a selected group of 50 innovators had a unique opportunity to engage stakeholders in discussing potential solutions to some of the blockages that are preventing solutions from going to scale.
Lowell Scarr, one of the 50 innovators at AIS 2018, has been studying and working in the insect industry, and is currently living in Grahamstown in South Africa. His innovation, Nambu, proposes a solution by bridging challenges in the Agriculture and Food Security sector. Nambu transforms food waste into animal feed as “30% of the food is wasted in South Africa” and there is an “increase in animal feed shortage”. Scarr said that the biggest challenges he encountered as an innovator was being able to “overcome fear and getting it done”, adding that it is not always about the lack of financial resources but more about “finding the time to do it and getting into the right mind-set”.
Francis Nderitu Mwangi, top 50 innovator with his solution, Vakava Quickgold, which provides unbreakable cold chains in agriculture from post-harvest to the last mile by storing cold energy in dry ice batteries that do not need to rely on any external power sources, outlined one of the challenges innovators face in Africa: “I feel like there’s some sort of discrimination towards the local innovators. Our own African investors tend to invest in foreign innovations. There are also infrastructure issues, as rural Africa does not have good connectivity and is therefore not able to receive our network.”
AIS 2018 focused on innovative and disruptive solutions to the major challenges facing African countries, which include energy access, water, food insecurity, health systems, and governance. As a platform for multi-stakeholder dialogue and actions, AIS is Africa’s only summit on innovation that seeks to foster action-driven dialogue between African innovators and stakeholders in Government, private sector, civil society and academia to ensure African solutions are concretely given the opportunity to scale in a measurable way. The summit has also created a community of innovators that will not only meet to dialogue on solutions but also create ecosystems that will enable them to share ideas and network beyond the summit.
In his final call to action, Dr. Olugbenga Adesida, co-Director of AIS, calls for a bolder imagination about the future by Africans and a sense of urgency around Africa’s transformation. He noted that innovation is a pre-requisite for Africa’s transformation and that all stakeholders must engage to facilitate greater collaboration. Africa must ensure greater self-reliance by mobilizing domestic funding to promote innovation and support our innovators; The future belongs to them. We must build robust ecosystems for innovation in our respective countries on the continent. Africa cannot simply be consumers, nor can it outsource its development. We all must engage with a new sense of urgency to facilitate change!
The presence of the Top 50 African Innovators in Kigali was made possible by the sponsorship of the European Union Commission. Other key partners and sponsors included the Government of Rwanda, the Rockefeller Foundation, the Government of Luxemburg, NEPAD Agency, the African Development Bank (AfDB), the Development Bank of Southern Africa (DBSA), Afreximbank, the Swedish International Development Agency (SIDA), YAS (UNDP & Accenture), Usawa.io, BADEA, PATH, International IDEA, OIF Ethiopia Airlines and Turkish Airlines.
The AIS (www.AfricaInnovationSummit.com) is an Africa-wide and home grown initiative aimed at harnessing the innovation potential of the continent. It aims to mobilize people with the ‘power to act’, including investors, innovators, policy makers, researchers and academics, the business community, the youth, as well as thought leaders and thinkers into a coalition for collective action to promote and build an enabling environment for innovation in Africa. The goal is to engage as many people as possible in order to build a broad constituency in support of innovation in Africa.
The AIS platform includes regular Summits to promote dialogue, facilitate exchange of best practices among stakeholders and African countries, showcase what is happening on the continent, and share lessons of experience. The platform also includes engaging with African researchers and scholars to undertake case studies to tease out lessons of experience in order to facilitate learning by stakeholders. The African Innovation Exhibit which is also part of the AIS provides a stage to showcase homegrown innovations and innovators on the continent, while the Hackathons will challenge the people to come up with solutions to specific problems. The exhibitions and hackathons will allow stakeholders to seek ways to scale up potential solutions.
Each AIS will build on the previous ones by deepening the dialogue, engaging a wider number of stakeholders, as well as focusing Africa’s innovation potential to address the challenges facing the continent. The aims are to identify path breaking ideas and disruptive solutions to be developed and/scaled up in Africa as well as build a constituency to help address the fundamental challenges facing the continent.
By Nevson Mpofu
Trade and Economic Development in the African Region must be put on the fore-front through Regional Integration and policy development. Despite the fact of some economic improvements in the African Region, Integration, policy development and Information dissemination gaps must be closed so as to further improve some dark areas especially on Information dissemination that has lagged behind on issues related to Trade and Development and Regional Integration at continental level.
Addressing a pack of 30 Journalists from the African Region recently in South Africa, Cape Town, Trade Law Centre Executive Director Trudi Hartzenburg said it is vital for Journalists who report on Economic issues to dwell on the subject of Trade and Development and far fetch information on Regional Integration.
‘’African Countries are forging ahead with the times in Economic Development , Trade and Law and on Integration issues , but however , there is need for more information to highlight dark areas of gaps which need to be addressed in order to stir more change .
‘’For countries to improve on the development of their economies, more information dissemination is vital throughout the African Region. In addition to that Trade policies, Laws, frameworks and strategies must be articulated correctly.
‘These instruments from the International level, Regional to National level must address core issues for Economic Development. There-fore, media plays a role in fostering economic Development through information dissemination at all levels of concern.
Reporting for Economic Development is key since Africa is still with many developing countries with low Gross Domestic Products and Low Income per-capita due to low levels of Domestic Exports. Many countries in the African Region have seen the green light in Economic Development because of Regional organizations impacts on Trade .
Some of these important organizations are the then Southern African Development Co-ordination Conference [SADCC][ which later was changed to SADC , COMESA , Preferential Trade Agreements [PTA] , Southern Africa Customs Union [SACU] , ECOWAS , East African Community [EAC] and those surrounding Africa like European Union [EU] ,World Trade Organization[WTO] , NATO and African Caribbean and the Pacific [ACP] .
‘’African countries can only see the green light through smart Regional partnerships , however linking on Trade issue with the outside of Africa , help countries to develop themselves . Regional Integration must move further to define itself out of the African box to join with the World Trade Organization. Such partnerships make countries achieve on Sustainable Development Goals in line with poverty reduction through Regional co-operation, Integration and policy development at International levels.
‘’One important critical organization to work with is the International Trade organization WTO]. It is pathetic to note that out of 54 countries in the African Region , only a few have over the recent years been affiliated to World Trade Organization which by then had only 164 countries , some of them , the developed countries of the World .
‘’That is one main reason why we are behind the camera of economic development. African countries shun some of the most important economic activities at the expense of its population. Besides, this is true as well with other countries like in some parts of Asia , Europe and Latin America .
‘’Instead of talking of Regional Integration , we are supposed to talk about Global Integration , looking at how possibly we can shoulder up and grapple challenges of poverty and less growth in Gross and National Domestic Product . As well, we need more of Global Integration, policy development and improvements in Law issues related to Trade so that we can move ahead with the times’’ , Trudi elucidated .
Trudi also touched on issues as well on Preferential Trade Agreements which focus on trade agreements in the area of Trade and Development. Such advantageous preferences are related to zero or low tariffs when countries are in trade issues. A good example is the Generalized Tariffs countries in the developed world grant in form of preferential tariffs so that they may have imports from developing countries.
Professor Gerhard Erasmus added that zero and low tariffs improve on issues in trade there-by facilitating fast development. The link and friendly co-operation of countries according to Professor Gerhard is an advantage to those in the developing world, but there is need for the developed world to work in unison with the developing ones so that economic growth can easily be realized without any difficulties at all.
‘’Agreements in trade are very important as long as they last and bring the desired goals of economic development meant to improve on the lives of the general population in the World. As long countries are in agreements, they foster economic growth to regional levels, and then there is need for further developments ascending to regional and international heights.
‘’Thus why some countries have gone up in short periods of the decades passed. It is because of Trade Agreements meant to foster economic development at national to regional until it’s at international levels ‘’
‘’Economic growth ‘is spearheaded by policy development at all levels with the interventions of frameworks and strategies building up on better relationships. Some countries have focused more on policy, research for economic development aligning relationships and affiliating memberships at regional levels.
‘’At last they made their way into becoming fast developing countries until they became recognized at global levels. But, it needs our effort and strength to stimulate Investments through policy development. Through the African Continental Free Trade Area , some economies have molded to better strength in Trade with their partners.
Giving his echoes in the vibrancy of more sentiments in an exclusive interview in Harare Dr Prosper Chitambira , Labour and Economic Development Research in Zimbabwe [LEDRIZ][ Economic Advisor said Southern Africa Customs Union is a force to reckon with because these states implement a common tariff imports from outside the region. This, he added on, forms a common customs territory under which issues pertaining to their challenges are equally addressed at regional level.
‘’This is a pool of customs and revenue seen also as an anvil to the development of key policies for better economies to be developed through integration and partnerships in Trade and Development .The common policies swim in strategic areas like in Industrial development for economic growth looking specifically 3 main sectors of the economy, Agriculture , Mining , and Manufacturing Industry .
‘’Apart from that , the union removes out signs of un-fair trade practices which hinder economic development for growth at national and regional level .
‘’Countries in the Region must address their thorny issues through Regional integration and economic co-operation. It is vital to merge countries, make them share and remove obstacles which hinder economic development through policy and better economic networks. Economic development is shown by Industrial development descending low absolute poverty levels. From above , high levels of employment indicates social and economic change with time in any part of the region’’, he took head on to a close . .
SACU SOUTHERN AFRICA CUSTOMS UNION is comprised of Southern African countries like South Africa , , Botswana , Namibia , Lesotho and Swaziland .SACU was established in order to enable member states to implement a common external tariff on imports from outside the territory . The four day workshop had media practitioners from South AFRICA , Zimbabwe , Namibia , Ethiopia , Madagascar and Rwanda .
NAIROBI June 11,2018-African continent is likely to be subjected to reliance on the ‘unpredictable’ foreign aid unless its over 50 countries agree on a multi-agency collaboration to investigate and fight illicit financial flows, a taco of fences and other financial crimes training conference in Nairobi has been told.
By Papisdaff Abdullah.
The authority suspended the registration and issuance of the cards on May 28 after a failed roll out, resuming last week to successfully register persons at the Jubilee House – the seat of government.
The exercise was to have begun in parliament today but the MPs who showed up were left stranded as officials of the NIA failed to show up.
Panafricanvisions sources at the NIA, officials who were detailed to the lawmaking chamber to register and issue the cards to the MPs “got a communique from their bosses that today being Monday and the fact that Parliament does not sit on Monday they should hold own and rather show up tomorrow.”
Meanwhile, the Minority members in Parliament have stated that they will boycott the planned registration of Parliamentarians by the NIA for the new Ghana Card.
A statement signed by Minority Leader Haruna Iddrisu stated that the decision was taken due to the failure of the NIA to engage Members of Parliament to clarify a number of issues relating to the roll out of the exercise.
The minority is also raising questions about the cost, scope and legality of the project as well as registration requirements.
According to the minority members, until those issues are cleared by the NIA, they will not take part in the planned registration.
By Papisdaff Abdullah.
Ghana’s President, Nana Addo Danquah Akufo-Addo has challenged members of the Boards of the three newly created Development Authorities to do all within their power to deal with the inequalities and imbalances that have plagued the country’s developmental agenda.
Addressing members of all three Development Authorities and the Board of the Zongo Development fund, after administering the oath of office, and the oath of secrecy, Akufo-Addo said it is unfair that there has been so much disparity when it comes to development in Ghana.
The President therefore urged the new boards to introduce a new paradigm in how the country’s capital expenditure is used to ensure equitable and even distribution of resources for purposes of development across the length and breadth of the Republic.
In his address, President Nana Akufo Addo observed that the sad history and unfortunate outcome of the defunct Savanna Accelerated Development Authority (SADA) should be a constant reminder to all the three boards not to repeat the mistakes committed by the managers of SADA.
The three Development Authorities ;Coastal, Middle Belt and Northern Development Authorities – are tasked with the implementation of the Infrastructure for Poverty Eradication Programme (IPEP). The Programme will also be responsible for ensuring the effective disbursement of the equivalent of $1 million per constituency per year, in fulfillment of President Akufo-Addo’s 2016 campaign pledge.
President Akufo-Addo in April 2018, appointed the Chief Executive Officers and Deputy Chief Executive Officers of the Coastal, Middle Belt and Northern Development Authorities. As a follow up, the President has sworn into office the substantive boards for the Authorities. The Authorities are thus ready to kick start their work.
Board Chairpersons/ CEOs of Development Authorities
The Boards of the three Development Authorities have Edmond Annan as the Board Chairman, of the Coastal Development Authority and Samuel Attah-Mensah, as its Chief Executive Officer. The Middle Belt Development Authority has Alex Kwaku Korankye as its Board Chairman and Joe Danquah as its Chief Executive. The Northern Development Authority has Hakeem Ahmed Wemah as its Board Chairman and Dr. Abdul-Majeed Heroin as its Chief Executive. All the three boards have additional eleven members constituting the thirteen member board for each of the three Development Authorities.
By Samuel Ouma
Activities came to a standstill in Nairobi, Kenyan capital city, after a group of activists staged demonstration demanding the arrest of suspects who allegedly defiled a student.
Moi Girl’s school, a learning institution located in the capital, was indefinitely closed last week following defilement of a student and assault to two others by unknown people at night.
Kenya Education Cabinet Secretary Amina Mohamed ordered the closure of the school to pave way for the investigations. She also dissolved the school’s Board of Management and Parents Association.
Amina appointed 9-member interim board to oversee the management of the school. The team consisted of senior officials from the ministry and Teacher Service Commission.
The school reopened on June 10 amid protests on security. Some parents have threatened not to take their children back without knowing what transpired on the fateful night.
Led by their leader Cecilia Ayoti, the protesters stormed into Amina’s office, asking her to take stern action on those responsible to avoid the occurrence of the similar incidents in future.
“If we do not act on such incidents and let the perpetrators walk free, we risk future and worse attacks,’’ said Ayot.
Meanwhile, six people have been questioned by police including the security guards who were on duty, two students and the doctor who examined the defiled girl.
Detectives and the Government chemist had taken DNA samples from eight staff members of the school, among them six teachers for forensic analysis.
The Moi Girls School’s incident happened barely eight months after the fire which source has not been established torched the school’s premises claiming ten lives of the students and property worth millions of shillings were destroyed.
From the surprise acceptance of a peace agreement with bitter rival Eritrea, to the opening of major state-owned sectors to private investment, plus the release of thousands of prisoners including opposition figures once sentenced to death, the 42-year-old Abiy Ahmed has kept Africa’s second most populous country buzzing.
On Tuesday alone, Parliament kicked off by lifting the state of emergency imposed in response to the protests demanding greater freedoms that began more than two years ago. It marked the most dramatic change yet under Abiy’s rule.
By nightfall there was bigger news: the prospect of peace with neighboring Eritrea after nearly two decades of border skirmishes and a two-year war.
Almost as an afterthought came word that Ethiopia, one of the world’s fastest-growing economies, was opening state-owned enterprises in aviation, telecommunications and more to foreign investment or outright privatization. That opens the door for stakes in globally successful Ethiopian Airlines and Africa’s largest telecom company by subscribers, Ethio Telecom.
“Now I need to take an umbrella when I get into a shower so that I can grab my phone and follow these rounds of breaking news items,” joked one Ethiopian, Firew Megersa, on Facebook.
The new prime minister has dined with opposition leaders, named new army and intelligence chiefs and suggested that his own position should have term limits. He’s visited Saudi Arabia and secured promises that thousands of Ethiopians detained as illegal migrants would be released. He’s made new port agreements with neighbors along one of the world’s busiest shopping lanes.
In a colorful sign of his ambitions, Abiy even hinted that landlocked Ethiopia would revive its navy.
Citizens of the East African nation where the government once shut off social media to dampen criticism now find themselves expressing opinions without fear. The return of stability to a key Western security ally in a region with turbulent neighbors like Somalia and South Sudan has some breathing more easily.
Despite the whirlwind of change, many wonder just how far reforms can go in a country where the ruling coalition still holds every seat in Parliament and opposition has been punished.
“The language the prime minister is using is very conducive for coming closer, to listen to each other. But for an actual political engagement in the country you need a number of practical things to happen,” said Andargachew Tsige, an Ethiopia-born Briton and opposition leader who was snatched by Ethiopian intelligence agents in Yemen in 2014 and sent to death row.
Andargachew’s freedom last month, along with the release of a photo showing him and Abiy in the prime minister’s office, captivated many Ethiopians.
Despite his turn of fortune, Andargachew told The Associated Press: “We need to see on-the-ground concrete measures, not only releasing political prisoners, not only making good speeches.” Ethiopia needs independent institutions, he said.
While Abiy’s rise to power has led to a dramatic decrease in protests, critics say what he has done so far is simply “putting out fires.”
“Up until now I haven’t seen any policy direction from the new leader on how to solve Ethiopia’s chronic problems, like setting up an equal, competing space for all political parties and directions regarding the country’s macro- and microeconomic path,” said opposition politician Yilikal Getnet. Ethiopia suffers from massive debt and faces an acute foreign exchange crisis after exports fell short of targets.
Even the new prime minister’s popularity could turn out to be risky in a country with a history of long-ruling authoritarian leaders, Yilikal said.
“I agree his speeches are conciliatory but at the same time I see a tendency of slipping back into dictatorship, with both state and private media delving into creating a cult of personality around the new leader,” Yilikal said.
For now, some observers once alarmed by Ethiopia’s unrest have started to soften their tone.
“We are encouraged by recent developments,” said U.S. Embassy spokesman Nick Barnett, adding the U.S. is ready to support all efforts to build a “more representative political system.” Ravina Shamdasani, spokeswoman for the U.N. human rights office, said she had witnessed “tremendous hope” among civil society activists, traditional leaders and others.
The new prime minister “can’t change every individual’s life, but he is setting up the ground for changes to happen and create a national consensus among all Ethiopians,” said Seyoum Teshome, a prominent blogger who was arrested twice under the state of emergency.
By Lauren Zumbach
A flight scheduled to arrive at O’Hare International Airport on Monday will mark the start of the first direct flights between Chicago and Africa.
The Chicago Department of Aviation and Ethiopian Airlines announced the new thrice-weekly nonstop flights between O’Hare and Addis Ababa Bole International Airport, in the East African country’s capital city, earlier this year.
“We believe that the flight will further boost the growing relations between the USA and Africa in general, and Ethiopia in particular, by enabling greater flow of trade, investment and tourism,” Nigusu Worku, U.S. regional director at Ethiopian Airlines, said in an emailed statement.
When Air New Zealand begins flights between O’Hare and Auckland in November — another new service announced in March — Chicago will join the ranks of just five cities that have nonstop passenger flights to all six major inhabited regions of the world, according to Department of Aviation spokeswoman Lauren Huffman.
|The Summit’s speakers and guests represent the leading angel networks, VC funds, impact investors, accelerators, corporate venture divisions, industry associations, and public sector agencies
This year, the Africa Early Stage Investor Summit is set to kick off Cape Town’s Global Entrepreneurship Week, encompassing a number of leading industry events and numerous networking opportunities. The Summit organizers Venture Capital for Africa (VC4A) (https://VC4A.com) and the African Business Angels Network (ABAN) (https://ABANangels.org) have partnered with AfricaCom (https://goo.gl/TcU3jh) and AfricArena (http://AfricArena2018.com) to offer a full-week VIP Investor Pass giving access to all three events as well as Investor Cocktail, Industry Leaders Dinner and an Innovation Tour.
The Summit’s speakers and guests represent the leading angel networks, VC funds, impact investors, accelerators, corporate venture divisions, industry associations, and public sector agencies. Headlining the Summit are renown international and local investors from Nigeria, South Africa, Cameroon, Egypt, Ghana, Morocco, Kenya, Liberia, Senegal, Ivory Coast, France, US, UK and The Netherlands, amongst many other countries.
The 2017 edition brought together over 300 investors from prominent African angel networks and VC funds, such as Singularity Investments, Accion, Blue Haven, 4Di Capital, Lagos Angel Network, SABAN, AngelHub Ventures, Teranga Capital, Outlierz, Algebra Ventures, Grey Elephant Ventures, Ringier, GSMA, Orange Digital Ventures. Among the attendees were international organizations and policy makers, such as IFC, the World Bank Group and the European Commission. Following a rigorous due diligence process, the event showcased 20 African digitally-enabled scale-ups from across the continent, resulting in a number of series A deals totaling over $12mln. The 5th anniversary event promises to further raise the bar, featuring renowned investors from overseas and stellar entrepreneurial talent from the continent.
Industry leaders explain the reasons they participate in this annual conference:
“The Africa Early Stage Investor Summit brings together a diverse network of people with a common interest of starting and building sustainable companies that solve real problems on the continent. The status of the partners on board and profiles of the speakers ensure that the event is thought provoking, educational and fun!” says Keet van Zyl, Partner at Knife Capital.
“I found the Africa Early Stage Investor Summit to be a great opportunity to network and learn from other investors from around the continent. The sessions were useful and provided great pan-African perspective of the investment landscape. I will highly recommend it” comments Kola Aina, CEO and Founder of Ventures Platform.
Ido Sum, Partner at TLCom Capital, comments further: “Being a regular participant in many such conferences, it was a unique collection of very high quality companies as well as the early stage tech focused African investors community. This intersection of top notch investors and founders led to a few great relationships and investment opportunities we looked in more depth into. I would highly recommend to anyone interested in the space to take part in the 2018 summit.”
Not only the pool of entrepreneurial talent across the continent is growing, but also the quality of ventures is improving. The pipeline of African innovative businesses has never been so investible. And where talent leads the way, money closely follows. More than 60 angel networks have been set up across the continent and a growing class of Africa-focused VC investors are backing and scaling the best of these high-growth startups. VC4A and ABAN co-host the Summit, specifically to create an annual meeting point for this growing investor community.
As in the previous years, the participants can expect a highly focused yet varied program consisting of workshops and masterclasses for investors by investors, rich networking experience, exclusive co-investment opportunities, as well as the latest trends, insights and industry research.
VC4A (https://VC4A.com) is an ecosystem builder that leverages its infrastructure, network and expertise for the programs that contribute to Africa’s startup movement. Since 2008, the organization designs, structures and implements successful entrepreneurship programs on the continent. VC4A runs an online platform, VC4A.COM, featuring the world’s largest database of African startups and connecting local entrepreneurs to learning resources, mentors, investors and partner programs.
The African Business Angel Network (ABAN) (https://ABANangels.org) is a Pan-African non-profit association. ABAN was founded in early 2015 to support the development of early stage investor networks across the continent and to grow the cohort of early stage investors excited about the opportunities in Africa.
|The International Center for Tropical Agriculture, established by the government to oversee phytosanitary inspections, received US $5 million in funding from the African Development Fund|
SAO TOME, Sao Tome and Principe, June 8, 2018/ — African Development Bank (www.AfDB.org) President, Akinwumi Adesina, met with São Tomé and Príncipe President Evaristo Carvalho on Wednesday, just as the Bank’s Board of Directors in Abidjan approved the island nation’s new Country Strategy Paper 2018-2022.
“We have long been a supporter of your country and have great hopes and expectations for it. You have a clear vision for the country. A new Country Strategy Paper was approved, defining our new collaboration. Together we will focus on agriculture, the blue economy, employment for women and youth, and the financial sector.”
Carvalho said, “I will do everything possible to make our partnership better than ever. I will make sure that our country maintains its current performance.”
Earlier in the day, President Adesina visited two Bank-financed centres, part of the first phase of the Infrastructure Rehabilitation and Food Security Support Project.
The International Center for Tropical Agriculture, established by the government to oversee phytosanitary inspections, received US $5 million in funding from the African Development Fund (ADF) for rehabilitation, new laboratory equipment and staff training to strengthen quality control procedures for products and services offered to farmers. Paquete Idalina, an entomologist at the centre, said, “the technical and financial support we have received allows us to help 1,586 maize farmers today.”
The Advanced Agro-Pastoral Training Center is the only facility in São Tomé and Príncipe to offer technical training in agriculture and promote agricultural entrepreneurship. The centre received US $47.19 million in funding from the ADF, making it possible to increase the number of students from other parts of the island. Adesina told students, “Agriculture must be seen as a business, a source of wealth. I encourage you to become entrepreneurs to contribute to wealth creation in your country.”
The second phase of the Infrastructure Rehabilitation and Food Security Support Project is already underway and is promoting the development of fishing and farming infrastructure to facilitate production, storage, processing, distribution and capacity-building in both sectors.
The project is expected to boost food production for local consumption from agriculture and fishing. Agricultural products for the local market are expected to increase from an average of 58,000 tons in 2009-2011 to 75,000 tons in 2020, while fishing products are anticipated to grow from an average of 4,800 tons in 2009-2011 to 6,200 tons in 2020. Local products are expected to comprise a larger percentage of the supply, rising from 58% in 2012 to 75% in 2020.
Bank support for the education sector in São Tomé and Príncipe dates back to the 1990s when US $19.4 million in ADF funding went to the Teaching Facilities Rehabilitation Project to improve teacher qualifications and expand access to high-quality teaching.
At the Higher Polytechnic Institute of São Tomé, another Bank-financed facility, Adesina encouraged students: “You are the future leaders of this country. You must release the potential of São Tomé and Príncipe by aiming high, by keeping abreast of labour market needs and by preparing for the careers of the future.”
The polytechnic has more than 2,000 students today compared with 118 when it first opened about 20 years ago, and offers courses in 16 subjects, including biology, mathematics, economics, tourism, agronomy, electronics, ITC, public relations and communications. “I believe in you,” he said. “Be entrepreneurs and become the country’s multi-millionaires!”
Adesina also held meetings with Agripalma Ltd., an affiliate of the Socfinaf Group that has owned and planted 5,000 hectares of oil palms in the south of the island since 2009, and with Claudio Corallo, one of the world’s leading chocolatiers, who employs about 300 people and processes nearly 1.5 tons of cacao every month.
The African Development Bank Group (AfDB) (www.AfDB.org) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 53 regional member states.