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Global companies give Africa a second look
August 22, 2017 | 0 Comments
South Africa hosts most of the top companies in Africa, but other countries are coming up
BMW South Africa announces the production of its one-millionth BMW 3 Series sedan at its manufacturing plant in Rosslyn, Pretoria in South Africa. Photo: BMW Group

When travelling abroad for work and looking for accommodation, Joe Eyango, a Cameroonian living in the US, considers two factors: convenient transportation from the airport and around the city and reliable Internet access. He is a university professor and wants to be able to jet in, hit the ground running, make his presentation and zoom off to another destination in a day or two.

Mr. Eyango has been to various countries in Africa for business and work but has reasons for preferring South Africa.

“South Africa has a lot to offer compared with other African countries. The road system is good, there is adequate electricity and reliable Internet connection, which is necessary for work and business,” Mr. Eyango told Africa Renewal in an interview.

Recently, having been invited to present a conference paper on a tight schedule, Mr. Eyango flew into Johannesburg from Amsterdam, spent less than 30 minutes in customs at the O. R. Tambo International Airport, took a taxi and was at his hotel in less than an hour since arrival.

South Africa attracts many professionals and big multinationals. It’s currently home to more than 75% of all top global companies in Africa.

“Where these big companies choose to invest depends on whether the environment is right for business. Investors are interested in relatively stable countries, good infrastructure, reliable communication, electricity and labour,” says Dr. John Mbaku, a researcher at Africa Growth Initiative at the Brookings Institution and also a professor of economics at Weber State University, US.

Some of the global companies with a presence in South Africa include luxury car manufacturers BMW, the Standard Bank Group, Barclays Bank, Vodafone (one of the world’s largest communication companies), Volkswagen, and General Electric. There is also FirstRand, Sasol, Sanlam, and MTN Group.

In an earlier interview with South African officials on why they’d chosen the country as an investment destination, Sam Ahmed, then the managing director of Britannia Industries, an India-based manufacturer of biscuits, snacks and confectionery, said his organization had been looking for a country that would give it access to the entire African market while keeping its costs low.

“In South Africa you have first-world infrastructure and third-world cost,” Mr. Ahmed said. The company’s production costs in South Africa were much lower than in Southeast Asia, the company headquarters.

Big businesses are also attracted to countries where the legal system works, so they can be assured of justice should legal issues arise. South Africa’s judiciary has been hailed for its sound judgements and independence from political machinations relative to other African countries.

Another attraction for big businesses is human resources. The efficiency and smooth operation of these large companies depend on the calibre of its labour force. Despite many years of apartheid, according to Mr. Mbaku, South Africa provides its citizens with relatively good quality education the multinationals are looking for in their labour force.

However, despite its successes, South Africa continues to grapple with a high crime rate (especially in urban areas), graft accusations and the political uncertainty that businesses loathe.

Dr. Mukhisa Kituyi, the secretary-general of the UN Conference on Trade and Development (UNCTAD), the UN body that deals with trade, investment and development issues, acknowledges that South Africa has the oldest and most developed market economy in the whole of Africa for historical reasons: the market grew out of a strong mining and industrial base and the financial industry.

However, according to Mr. Kituyi, things are now changing and other African countries are also attracting big investors.

“It’s true South Africa has had a head start, but in net terms, there is faster growth in alternative centres for both manufacturing and service delivery than in South Africa. Today, the financial services industry is growing faster in Morocco than in South Africa,” Mr. Kituyi told Africa Renewal in an interview.

He notes that some multinational enterprises operating out of South Africa have relocated substantially. “We recently saw the opening of the Volvo truck-manufacturing plant in Mombasa. And similarly, we have seen many other services, particularly IT-based services and telecommunications, growing in new nodes like Nigeria, Kenya and Rwanda.”

Fringe benefits

So why should African governments want to encourage global companies to set up shop in their countries?

Driven by insufficient funds, African governments are increasingly turning to private-sector companies for a much-needed boost. Foreign investments provide capital to finance industries, boost infrastructure and productivity, provide social amenities and create jobs, all of which can help a country reach its economic potential. And as countries rush to implement the Sustainable Development Goals, funding is key.

In Africa, governments and industry are gradually forming public-private partnerships (PPPs) in which companies provide capital while governments ensure an environment conducive to business. In the last 10 years, the continent has welcomed PPPs for projects in infrastructure, electricity, health and telecommunications.

Lenders like the African Development Bank are urging African countries to improve business environments by “creating the necessary legal and regulatory framework for PPPs, and to facilitate networking and sharing of experience among regulatory agencies and other similar organizations.”

Tread carefully

However, even as PPPs begin to change the face of Africa, there is need for countries to tread carefully and to learn from failed PPPs when signing up for such partnerships.

“Ask yourselves, does the state have the capacity to forge ahead with these partnerships? This is necessary to avoid bad debt,” says Mr. Kituyi, adding that governments should not let private companies drive the agenda.

This word of caution is echoed by the Brookings Institution’s Mr. Mbaku, who is advising African governments to ensure that PPPs work to their advantage: “If you have a weak or corrupt leadership, you may not have the power or the skills required to negotiate a favourable partnership. You will end up with a PPP that is not really a partnership.”

Mr. Mbaku gives the example of oil companies that have been operating in Africa for more than 20 years yet still depend on expatriate labour instead of employing locals. Such companies are reluctant to transfer skills, knowledge and technology to the locals.

Another problem with PPPs is the imbalance of power. “If you are a government engaged in a PPP on a development project, there is inequality in power. The multinational has capital, skilled manpower and [an] external market. The government has no power over these,” says Mr. Mbaku.

Despite the challenges, however, PPPs will continue playing a major role in the development of poor countries. For African countries to attract multinationals and other big investors to partner with, their governments need to put their house in order—improve infrastructure, communication, security and the legal system, and fight corruption.

*Culled from Africa Renewal

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Integrating Financial Services In Africa
August 18, 2017 | 0 Comments

By *

A defining objective of the African Union is to promote sustainable development at the economic, social and cultural levels as well as the integration of African economies. This noble mandate, enshrined in Article 3, of the Constitutive Acts of the AU, actually predates the AU, and was a principal goal of the Organization of African Unity, OAU, the predecessor body of the AU.

Emeke E Iweriebor

Emeke E Iweriebor

Economic integration also provided a fundamental impetus in the formation of the various Regional Economic Communities, RECs, and monetary zones in Africa – viz. ECOWAS, UMOA, CEMAC, CEEAC, EAC, AMU, CEN-SAD, SADC, COMESA, IGAD, etc. Together, these RECs have striven to promote and co-ordinate social, political and economic integration in the continent.Interestingly, some countries are even members of up two or three RECs. This is a testament to the overarching criticality of economic integration in the vision, plans and activities of African states.

In this treatise, I will focus on the integration of financial services in Africa, an unheralded field, but where remarkable results are being recorded. A Payment System is a facilitator of monetary transactions, and a veritable integrative node. In the UEMOA zone, in West Africa, the Groupement Interbancaire Monétique de I’UnionEconomique et MonétaireOuestAfricaine, more widely known by its French acronym, GIM-UEMOA, set up by BCEAO, the Central Bank of West African States in 2003, in striving to create a cashless region, has grown to become a regional platform for cards, electronic payments, and clearing of interbank transactions. With over 100 banks, financial and postal institutions as members; cardholders in the GIM network,pay relatively low transaction fees.

Also, the Central African equivalent, GIMAC,created in 2013, under the guidance of the Central Bank of Central African States, BEAC, is working with Banks to integrate the electronic payments system in the region, and ensure inter-operability and acceptance of GIMAC cards, for ATMs, POS, etc, by banks and for international payments,and reduce transaction and cash handling costs, while facilitating e-commerce.

The East African Payment System, EAPS, provides a platform for the real time settlement of cross border payments in the region. Driven by the Central Banks in the region, and piloted in 2013, the payment system took off immediately in Kenya, Uganda, Tanzania, and subsequently, Rwanda. More remarkable is that EAPS is based on direct convertibility, and the use of the currencies of participating countries for transactions and settlement, without the intermediary facilitation of any OECD currency. For instance, transactions initiated in Tanzania shillings can be directly settled in Uganda shillings or Kenya shillings.

In Southern Africa, the SADC Integrated Regional Electronic Settlement System (SIRESS),and the Regional Payment and Settlement System, REPSS, launched separately in 2014, are two integrative payments systems worth referencing. Through SIRESS, funds can be wired, real time, to beneficiaries with accounts in SIRESS commercial banks. REPSS, with a clearing house in Zimbabwe, and the Central Bank of Mauritius as its Settlement Bank, utilizes an electronic platform for cross-border payments and settlement.

Quite positively, these initiatives, operationalized under the auspices of Central Banks, and with the active participation of commercial Banks are technologically advanced, rapid, and secure. While leveraging on the real-time gross settlement systems of the countries, they seek to enhance efficiency, reduce settlement time, lower transaction costs and generally facilitate intra-African trade, and economic integration in the continent.

In tandem, the banking sector, in Africa, has expanded exponentially in the last decade, in asset size and profitability; geography -distribution channels and network; product sophistication- digital banking, cards, mobile payments; and, financial inclusion. Access to financial services continues to improve across the continent. Furthermore, leveraging on enhanced capacity, pan-African banks are increasingly able to collaboratively finance large ticket and transformational infrastructural projects through syndications and risk sharing. Currently, the top 20 pan-African Banks have assets over $800b, with over 11,000 branches. Beyond banking, we are also witnesses to the birth and growth of pan-African insurance, micro finance, and other financial service companies across the continent that offer greater diversity and depth of products and solutions. All these have led to the increase in the range, frequency, and diversity in the classes of risks that Banks, and other financial institutions, face. Concomitantly, risk management, regulatory compliance and corporate governance have become more stringent, and with onerous application, as they remain important variables for assessing the health of Banks, in the drive towards overall sector viability and sustainability.

Imperceptibly, but surely, the regulatory environment of the financial services sector, is also being integrated. The Association of African Central Banks, headquartered in Dakar, brings together 39 regional and country Central Banks in Africa. In line with its statutes, and practices, its Assembly of Governors, usually meets yearly, to deliberate on financial system stability, monetary and payment system integration, the African Central Bank initiative, etc.Another critical arm is the Community of African Banking Supervisors (CABS) which works to strengthen banking regulatory and supervisory frameworks.In the last decade, I have observed, first hand, this increased collaboration between African Central Banks,with MOUs being signed, to facilitate cross border supervision, exchange of ideas and information sharing between host and home regulators. Also, the College of Supervisors set up by the Central Bank of Nigeria, as a forum that brings together host regulators of Banks, with headquarters in Nigeria, but with operations in other jurisdictions,to strengthen governance practices, and ensure soundness in the banking sector, is also a positive development.

An evolving trend in the African banking space, is the initiative to connect Africa, andenablecustomers of a bank to conveniently access their accounts, deposit cash and make cheque withdrawals in any branch, in different countries across Africa, where the bank operates, outside the primary country holding the account. This has the distinct capability to alter the face and operation of banking in the continent as it will open up and facilitate easy movement of goods, services capital, and people. I also look forward to the day, soon enough, for instance, when a Moroccan manufacturer of fertilizer visiting Zambia to negotiate a contract; agrees payment terms, issues a paymentinstrument right away to a Zambian exporter of high quality packaging materials and gets value immediately, using simple electronic payment instruments.

On the whole, these emerging trends contribute significantly to the on-going African-led processes of creating a powerful, vibrant pan-African financial infrastructure, to further undergird and deepen Pan African economic, commercial, business and social interactions through access to personal and business finance across Africa. Together with the various similar initiatives in different spheres by African economic communities identified above, these initiatives will serve as a powerful signal of the march of African economic advancement through financial facilitation to build a fully integrated financial system that enhances financial inclusion, and serves the people.

Work remains. To accelerate financial integration, existing regional mechanisms and frameworks, including those highlighted above, must now begin to coalesce and fuse into larger pan-African systems, Central Banking, common currency, payments and collections; intra-African trade facilitation; etc. In spite of existing differences, but given the importance and fluidity of finance to agriculture, infrastructure, industry and economic development, the largest economies in each region showered as regional anchors, within a defined framework of the Assembly of the African Union.

*Emeka is Executive Director; CEO Africa- Francophone at UBA Group.Piece culled from linkedin page.

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The Africa Travel Association to host the 41st Annual World Tourism Conference in Rwanda this month
August 17, 2017 | 0 Comments
Washington DC – August 17, 2017: The opportunities tourism brings to African economies will be highlighted when African leaders, international investors, and travel professionals meet for the 41st Annual World Tourism Conference, in Rwanda from August 28 – 31.
Hosted by the Africa Travel Association (ATA), a division of the Corporate Council on Africa (CCA), and the Rwanda Development Board (RDB), the conference will highlight the economic and job opportunities being fuelled by the sector’s continued growth.
In less than 15 years Africa’s travel and hospitality industries have quadrupled in size, and the continent remains one of the world’s fastest-growing tourist destinations, second only to Southeast Asia.
President and CEO of the Corporate Council of Africa, Florizelle Liser, says CCA aims to use the conference to encourage investments and policies that contribute to the sector’s growth.
“The tourism conference will highlight opportunities in the tourism sector and intersecting sectors such as infrastructure, ICT, health, real estate development, and finance. Through strategic partnerships, we will also offer capacity building workshops for travel professionals of all levels,” she said.
Adding: “I look forward to working with [RDB CEO] Ms. Akamanzi and her team at RDB to showcase what Rwanda has to offer.”
This year will be the first time ATA’s Tourism Conference will be hosted in Rwanda, one of East Africa’s premier tourism destinations and one whose sector continues to grow. According to the RDB, Rwanda’s tourism sector generated US$303 million in revenue, in 2014 up three percent in the previous year.
On the sidelines of what is expected to be a packed agenda, ATA is working with Facebook to deliver training to SMEs in Kigali. The ‘Boost Your Business’ is a training initiative, developed by Facebook and facilitated by Digify Africa, designed to train and upskill small business owners on how to leverage digital tools to grow their businesses. The training will be held on August 26 at the Kigali Serena Hotel.
The conference also aligns with Kwita Izina, Rwanda’s annual gorilla naming ceremony, a national celebration creating awareness of the country’s efforts to protect the jewel of Rwanda’s tourism crown: the mountain gorillas and their habit.
The 41st Annual World Tourism Conference will be held in Kigali, Rwanda, on August 28-31, 2017.
Established in 1975, The African Travel Association serves both the public and private sectors of the international travel and tourism industry. ATA membership comprises African governments, their tourism ministers, tourism bureaus and boards, airlines, cruise lines, hotels, resorts, front-line travel sellers and providers, tour operators and travel agents, and affiliate industries. ATA partners with the African Union Commission (AU) to promote the sustainable development of tourism to and across Africa.
Corporate Council on Africa (CCA) is the leading U.S. business association focused solely on connecting U.S. and African business interests. CCA serves as a neutral, trusted intermediary connecting its member firms with the essential government and business leaders they need to do business and succeed in Africa.
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How AfDB’s investments in youth raise hope for a new Africa
August 13, 2017 | 0 Comments

“The future of Africa’s youth does not lie in migration to Europe; it should not be at the bottom of the Mediterranean; it lies in a prosperous Africa. We must create greater economic opportunities for our youth right at home in Africa.” – Akinwumi Adesina to G7 leaders

Current statistics put Africa’s overall unemployment rate at 8%, while the youth unemployment rate hovers around 13%.

Sixty per cent of unemployed people are young women and men. Of the young people who are employed, many are trapped in low-productivity work in the informal sector. Providing young African people with the education, skills and capacities for gainful employment is considered an urgent priority.

Thanks to the African Development Bank (AfDB), a new crop of highly inspired young Africans are gradually emerging. AfDB’s initiatives in this area are seen as model of how the continent’s young population could become a development asset for a new Africa.

To enable them contribute to the economy and to achieve an improved quality of life, a growing number of youths are embracing small, medium and large agriculture-based industries nudged on by the AfDB.

They are taking hold of their destiny. They can be also found in education, health, ICT and other facets of entrepreneurship.

Indeed, latest statistics reveal that many young Africans are not only exploring their inner potential, they are taking advantage of innovation platforms, inspired by the African Development Bank.

Through initiatives like the Jobs for Youth in Africa (JfYA)Empowering Novel Agri-Business-Led Employment (ENABLE) Youth, and the African Youth Agripreneurs Forum (AYAF), the AfDB is equipping young people with the right skills for business and employment. AfDB has also strengthened its support for science, technology and innovation training by investing in centres of excellence, working in collaboration with the private sector.

With 200 million Africans recorded to be between the ages of 15 and 29, youth unemployment and underemployment are high. Investing in skills through technical and vocational education will be essential to enabling young people to find jobs and business opportunities.

“We will keep Africa’s youth in Africa by expanding economic opportunities. This will help Africa to turn its demographic asset into an economic dividend,” Akinwumi Adesina, President of the African Development Bank Group, said.

At the African Union Summit in January, the African Union (AU) adopted the theme for 2017 as “Harnessing the Demographic Dividend through Investments in Youth.”

AU Heads of States and Governments recognized a country-level demographic dividend as central to the continent’s economic transformation in the context of AU Agenda 2063 – its global strategy for socioeconomic transformation within the next 50 years.

Given Africa’s current demographic structure with a high youthful population, the regional body sees a substantial potential for economic transformation.

According to the AU Roadmap on Harnessing the Demographic Dividend through Investments in Youth, “Africa is on the march towards a more prosperous future in which all its citizens, young, old, male, female, rural, urban, of all creeds and backgrounds are empowered to realize their full potential, live with satisfaction and pride about their continent.”

AfDB is showing that this is doable and is already leading the way.

For instance, through its Jobs for Youth in Africa initiative, AfDB has taken a comprehensive and integrated approach to equipping young people for work and enterprise.

Over the next decade, Jobs for Youth in Africa projects to generate 25 million jobs and impact 50 million youths.

In the agriculture sector, the AfDB is focusing on Empowering Novel Agri-Business-Led Employment (ENABLE) Youth programs, developing small and medium enterprises and creating jobs in agriculture. ENABLE Youth is a programme for young African people (18-35 years old) wanting to start a business in the agricultural sector. It works to promote, enhance, and modernize agricultural entrepreneurship in Africa.

The stories from the ENABLE Youth participants are resounding.

In Uganda (the second largest producer of bananas in the world), Sam Turyatunga saw an opportunity in producing his own brand of banana juice. As a college student, Sam produced the juice in his own dormitory. Supported by AfDB, Turyatunga now produces 1,500 litres of banana juice daily and sells its product in three other countries in East Africa. His firm also supports 500 banana farmers.

At the African University of Science and Technology in Abuja, Nigeria, young scientists and researchers are being trained to enhance industrial innovation, competitiveness and sustainable development across the continent.

“We are integrating a youth employment component into new Bank projects, and are working closely with regional member countries to develop policies that promote youth employment,” said Adesina.

The Bank believes that harnessing the labour, energy and enterprise of young women and men is critical to driving economic growth and reducing poverty.

In line with its Jobs for Youth in Africa Strategy, the Bank is integrating a youth employment component into the design of every operation it undertakes.

The Bank is assisting its regional member countries to develop national youth employment policies, supporting innovative work on best practices to help young people become entrepreneurs, and making investments that catalyze the private sector to increase employment opportunities.

There is a consensus that the 2017 theme on Harnessing the Demographic Dividend through Investments in Youth, has the potential to have far-reaching implications that would address all the key issues that Governments have had to contend with, and change the development trajectory of Africa.

“We must create wealth and restore happiness to our nation. We can only do this when we have an educated and skilled population that is capable of competing in the global economy. We must expand our horizons and embrace science and technology as critical tools for our development,” said Nana Akufo-Addo, President of Ghana.

“The good economic prospects of our country must first profit our youth, because they are our greatest strength and our greatest wealth,” said Alassane Ouattara, President of Côte d’Ivoire.

AfDB’s leadership in this area is considered a viable example, which countries can tap into.

*Source AFDB

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African Regional Center of New Development Bank to be launched next week
August 13, 2017 | 0 Comments
Photo taken on April 20, 2017 shows an aerial view of Johannesburg Town, SouthAfrica. The City of Johannesburg Local Municipality is situated in the northeastern part of South Africa with a population of around 4 million. Being the largest city and economic center of South Africa, it has a reputation for its man-made forest of about 10 million trees. (Xinhua/Zhai Jianlan)

Photo taken on April 20, 2017 shows an aerial view of Johannesburg Town, SouthAfrica. The City of Johannesburg Local Municipality is situated in the northeastern part of South Africa with a population of around 4 million. Being the largest city and economic center of South Africa, it has a reputation for its man-made forest of about 10 million trees. (Xinhua/Zhai Jianlan)

JOHANNESBURG, Aug. 12 (Xinhua) — The African Regional Centre of the New Development Bank (NDB) will be launched by the South African President Jacob Zuma on August 17 in Johannesburg.

This was revealed by the National Treasury in a statement on Friday. The African Regional Center will allow countries in the continent to have access to the bank.

“The launch of the African Regional Center will showcase the NDB’s service offering, highlighting the Bank’s potential role in the area of infrastructure and sustainable development in emerging and developing countries,” said the Treasury in the statement.

The NDB is an institution to solve the infrastructural development and funding problems for BRICS and developing countries particularly in Africa. The BRICS Summit in Brazil signed an agreement to establish the bank in 2014.

“Another key resolution taken at the 2014 Summit was to establish regional offices that would perform the important function of identifying and preparing proposals for viable projects that the bank could fund in the respective regions,” said the treasury.

The NDB headquarters were officially opened in Shanghai, China in February 2016. The NDB is expected to complement the work done by the Breton Woods institutions but not have strings loans like the latter.

*Xinhua/New China

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Truecaller integrates video calling capability with Google Duo
August 12, 2017 | 0 Comments

The feature goes live, elevating Truecaller as a one-stop suite for voice, text, Flash messaging and video calls

LAGOS, Nigeria, 10 August 2017,-/African Media Agency (AMA)/-Expanding its feature set, Truecaller announced its integration with Google Duo, allowing users to make video calls directly through the Truecaller app on Android and iOS platforms.

The new feature will now make high quality video calling available to its 250 million plus users globally. This update enables users to launch a Duo video call with a single tap within the Truecaller app, and switches between WiFi and cellular data for uninterrupted conversation on-the-go. Truecaller integration with Google Duo is available for Android and iOS users as a permission-based service, by which users will be able to opt in and out at any time. Google Duo has also been rated as the highest quality video calling app recently by an NDTV Gadgets 360 study.

Elaborating upon Truecaller’s end-to-end communication platform, the integration of Google Duo offers yet another way for users to connect. Following the launch of Flash Messaging in April, the Google Duo-Truecaller integration will now enable video-first users with the communication mode of their choice.

Commenting on the launch, Rishit Jhunjhunwala, VP of Product, Truecaller, said, “Sometimes voice and text just aren’t enough and nothing beats the experience of communicating face to face. We’re very excited to announce the next step in delivering a one-stop communication platform for Truecaller users globally. By having a fantastic partner like Google, we can provide a high-quality video experience to millions of users using Google Duo”

“Video calling should work for everybody, regardless of what platform they are on. Our aim is to make video calling simple, fast, and available to everyone,” said Amit Fulay, Head of Duo at Google. “With this Truecaller integration, we’re able to bring a better video calling experience to millions of new users.”

People use Truecaller to stay ahead. It helps them know who’s getting in touch, filter out unwanted and focus on what really matters. The company provides a suite of unique services such as a dialler that offers caller ID, spam detection, messaging and more. Truecaller’s mission is to build trust everywhere by making communication safe and efficient. Headquartered in Stockholm, Sweden, the company was founded in 2009 by Alan Mamedi and Nami Zarringhalam. Investors include Sequoia Capital, Atomico and Kleiner Perkins Caufield Byers.
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Africa: A.P. Moller Holding launches new infrastructure fund with a focus on Africa
August 12, 2017 | 0 Comments
The new fund will focus on investments in infrastructure in Africa to support sustainable economic growth in the region while delivering an attractive return to its investors
COPENHAGEN, Denmark, August 10, 2017/ — A.P. Moller Holding (www.APMoller.com) has together with PKA, PensionDanmark and Lægernes Pension launched a new infrastructure fund with a focus on Africa. The fund has received commitments of USD 550 million from anchor investors.

Access the A.P. Moller Holding – Factsheet here (http://APO.af/qrt5D5).

From left: Peter Damgaard Jensen, CEO of PKA; Kim Fejfer, Managing Partner and CEO of A.P. Moller Capital; Torben Möger Pedersen, CEO of PensionDanmark; Chresten Dengsøe, CEO of Lægernes Pension, Robert Mærsk Uggla, CEO of A.P. Moller Holding

From left: Peter Damgaard Jensen, CEO of PKA; Kim Fejfer, Managing Partner and CEO of A.P. Moller Capital; Torben Möger Pedersen, CEO of PensionDanmark; Chresten Dengsøe, CEO of Lægernes Pension, Robert Mærsk Uggla, CEO of A.P. Moller Holding

The new fund will focus on investments in infrastructure in Africa to support sustainable economic growth in the region while delivering an attractive return to its investors.

The fund will be managed by A.P. Moller Capital, which is an affiliate of A.P. Moller Holding, and consists of a team lead by four partners, Kim Fejfer, Lars Reno Jakobsen, Jens Thomassen and Joe Nicklaus Nielsen. The partners all have extensive industrial and investment experience combined with a substantial network in Africa.

“We are very pleased with the significant support from the Danish pension funds and A.P. Moller Holding. Together, we will build and operate infrastructure business in Africa to support sustainable development and improvements in living standards across the continent. We will combine the best from industry in terms of project management and operational capabilities with the best from private equity in terms of agility and focus,” says Kim Fejfer, Managing Partner and CEO of A.P. Moller Capital.

“A.P. Moller Holding was established to build value creating businesses that have a positive impact on society. Africa, with a working-age population likely to reach more than one billion people in the next decades, has a pressing requirement for more investments in infrastructure. In this respect, we are delighted to have established a new promising company in our portfolio with a strong team, who hold the right capabilities and experience to manage infrastructure investments in emerging markets,” says Robert Mærsk Uggla, CEO of A.P. Moller Holding.

The fund has a duration of 10 years and has an initial target of 10 to 15 investments in total.

Peter Damgaard Jensen, CEO at PKA: “PKA has for many years invested in infrastructure both in Denmark and abroad. We have positive experiences investing in Africa and we have for a long time wanted to invest more on the continent. With this new fund we will be making infrastructure investments in Africa and get the opportunity to provide a good return to the pension savers and at the same time make a positive difference in line with the UN Sustainable Development Goals”.

Kim Fejfer, Managing Partner and CEO of A.P. Moller Capital

Kim Fejfer, Managing Partner, AP Møller Fonden

Torben Möger Pedersen, CEO PensionDanmark: “We are delighted to be among the seed investors in Africa Infrastructure Fund I. We see this as a unique opportunity to invest in a region with high economic growth and attractive investment opportunities alongside a partner, A. P. Moller Capital, that has extensive investment experience combined with a strong network and a promising pipeline of potential investment projects. The fund is a good example of how private capital can be mobilized on large scale to implement the UN’s Sustainable Development Goals”.

Chresten Dengsøe, CEO at Lægernes Pension: “Lægernes Pension are delighted to invest in the development of sustainable infrastructure in Africa together with similar-minded Danish pension funds. The team has many years of experience and a proven track record in the region and we expect them to provide attractive investment opportunities going forward”.

Following first commitments, the fund will be open for additional institutional investors for the next 12 months. The ambition is to raise USD 1bn in commitments.

 

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AFRICA’S SKYROCKETING UNEMPLOYMENT: WHO IS TO BLAME, THE UNIVERSITIES OR THE STATES?
August 12, 2017 | 0 Comments

By Moses Hategeka

 A few years back, I wrote an article titled, “Universities/Varsity Curricula Must be Practical” that was published in, The Herald, Zimbabwe’s most popular and biggest Newspaper, and was as well republished in various other Newspapers and Magazines in other African countries.

In that article, I argued that, theory based and powered curricula as administered in most African universities, cannot spur a critical mass of skilled graduates needed to transform African economies and called, for its total overhaul.

In the same article, I called upon, African governments to step up funding to their universities and compel them to overhaul cramming based learning and adopt research powered learning.

Research powered learning especially in the experimental sciences curricula, makes students, to gain knowledge of producing inventions, innovations, and ground breaking technologies, which if backed by supportive conducive governments’ policies, can be a catalyst, in spurring industrial and entrepreneurial development in African countries. It also enables the students from social sciences and humanities field, to gain interdisciplinary knowledge, that in turn makes them, critical thinkers, capable of objectively analyzing public policies and other issues at hand, and provide remedies where inadequacies exists.

Africa’s skyrocketing unemployment problem, especially youth unemployment that is affecting millions of youth on the continent, is a manifestation, of the failure of governments and universities, to harmonize their visions, into one complimentary vision of finding solutions to the challenges facing the continent.

Universities are supposed to be the center of knowledge production and dissemination where learners are equipped with relevant knowledge and skills that makes them capable of solving societal problems and meeting societal needs. Are African universities serving this purpose fully?

Moses Hategeka

Moses Hategeka

Globally, research is a chief driver of new knowledge and innovation crucial for spurring sustainable industrial and entrepreneurial development, but how much of the research have African universities done or are doing that have translated or are translating into industrial commercial usable products? Why is it that, African industries are majorly powered by imported technologies despite the fact that we have engineering and technology faculties at our universities?

In the medical field, why is that all the health complications that requires specialized surgeries are mainly done outside Africa with those unable to afford it dying miserably despite us having medical schools/faculties at our universities? Still in medical sector, why is that the few molecular biologists in our countries are unable to use computerized technologies to read and analyze the genomes of viruses and only do so after being subjected to re-training by experts trained from abroad?

African governments are supposed to apportion a good percentage of their national budgets for research development, if research, is to result into implementable policies and industrial usable products. But wait a minute! Looking at countries’ national Budgets, how much money percentage wise does African countries allocate to their institutions for research development?

Governments are also supposed to create robust favorable environment and opportunities for its employable citizens not only at national level, but also at international level, by incorporating in their foreign policies and international relations, the issue of systematically and legally transporting their employable labor to other countries where it is needed through bilateral relations, like what Cuba, Russia, China, and India have done and are doing. What are African countries doing in this regard?

For example, on realizing that, it cannot employ, all its trained Doctors, Cuba, decided to integrate medicine as a fundamental element in its foreign policy and international relations, as thus, eighty percent of Doctors and health professionals in Venezuela, are Cubans, send there by the Cuban government, on bilateral arrangement with Venezuelan government, where by Cuba, supplies medical workers in return for oil and gas supplies from Venezuelan government. Cuba also has hundreds of Doctors working on bilateral arrangement in other Latin American and African countries. Russia, India, and China, who produces, highest number of technology specialists and professionals in life and experimental sciences also does the same.

To the Chinese government, where there is Chinese capital and trade, there should be Chinese labor. Many people keep on wondering, why there is large presence of Chinese engineers, technicians, and traders, especially allover in African countries and other developing nations, forgetting that, transportation of labor to foreign countries, is a cardinal part of Chinese foreign policy and international relations. In fact, all the major infrastructural development projects in Africa, like major road high ways, Dams, buildings and industries construction, have been and are being executed by Chinese supported companies and labor

To overcome, the waves of rural- urban migration tied unemployment, and curb horrible unemployment figures among its science and technology specialists, the Chinese government, developed an economic diversification policy aligned, to urbanization, industrialization, and transformation of rural locations, into production centers, which involved relocating major industries from already congested industrial centers to rural areas, thus expanding industrial base and creating new towns and employment in the process, Wuxi and Nantong for example, owe their transformation from rural to major industrial centers to this policy.

In sum, universities’ curricula must be research derived and interdisciplinary powered, for the graduates to translate the acquired knowledge and skills, into industrial usable products and attaining critical thinking skills, capable of finding solutions to the societal challenges and needs and African governments must ably fund their varsities for this to happen in addition to putting in place, the implementable policies that stimulate entire spectrum

Moses Hategeka is a Ugandan based Independent Governance Researcher, Public Affairs Analyst, and Writer

Email: moseswiseman2000@gmail.com

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One Thousand Young African Leaders Convene in Washington to Collaborate on Leadership and Skill Building
August 12, 2017 | 0 Comments
Ngale Foretia Henry, a Fellow from Cameroon hopes to put his experience to use in transforming the poultry sector

Ngale Foretia Henry, a Fellow from Cameroon hopes to put his experience to use in transforming the poultry sector

One thousand young African leaders gathered in Washington, D.C., last week for the 2017 Mandela Washington Fellowship Summit. Representing 48 countries in Sub-Saharan Africa, the diverse group of leaders immersed themselves in activities to strengthen their leadership skills and to build connections with each other and U.S. leaders from the public, private, and non-profit sectors.

Mandela Washington Fellowship for Young African Leaders logo

Held July 31 – August 2 and hosted by the U.S. Department of State’s Bureau of Educational and Cultural Affairs with support from IREX, the Summit marked the culmination of the Fellows’ six-week Academic and Leadership Institutes at colleges and universities across the United States. Fellows now return home to apply the skills they have gained and utilize the networks they have created to enhance peace and security, spur economic growth, and strengthen democratic institutions to the benefit of Africa and the United States.

 

 

Mandela Washington Fellow Peo Pinkie Sebotho from Botswanacommented on collaborating with other Fellows. “We were excited to share our experiences and our dreams for Africa. I made friends, I made business partners. We were planning what we would do together in the future.”

Participants at the Institute for Regional & International Studies at UW Madison

Participants at the Institute for Regional & International Studies at UW Madison

Mark Taplin, then Acting Assistant Secretary of State for Educational and Cultural Affairs, said: “I don’t think of this as just a Mandela Washington Fellows Summit. This may be the biggest gathering all year here in D.C. of the up-and-coming, the leading and creating, the dreaming and doing, the sharing and caring. You are the future in business and entrepreneurship, in civil society and governance of the world’s most up-and-coming continent.”

Wade Warren, then Acting Administrator, U.S. Agency for International Development, also addressed the Fellows, calling on them to use the full power of the networks the Fellowship has helped them forge, and to think of challenges as opportunities.

Participants from Togo

Participants from Togo

Wednesday highlighted U.S. and African perspectives on leadership with remarks from Tony Elumelu, Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation; Dr. Helene Gayle, CEO of McKinsey Social Initiative; Norman Moyo, Author and CEO of New Enterprise Business DPA & CUMII at ECONET; and General (Retired) Richard Myers, President of Kansas State University and 15th Chairman of the Joint Chiefs of Staff.

 

 

 

 

 

 

 

https://youtu.be/YHl_wNJ0KDE

“I’ve studied why leaders are successful and I’ve seen a common thread: legacy. So as young leaders, you must think legacy. You must think long-term. The age you’re creating is the age of empowerment,” Elumelu declared.

In his address, General Myers emphasized courage and risk-taking. “If you’re trying to make a difference, you have to persevere. It takes more than a heroic leader to make a difference, it takes all of us,” urged Myers.

Wednesday also featured a Congressional forum on investing in the next generation of Africa with U.S. Senator from Delaware Chris Coons discussing advocacy, entrepreneurship, civic engagement, human rights, and U.S.-Africa relations.

IREX President and CEO Kristin M. Lord notes: “The Mandela Washington Fellowship creates a network of leaders advancing peace, prosperity, and more effective governance. That benefits not only people on the African continent, but forges people-to-people and government-to-government relationships that benefit both the United States and Africa.”

*Source IREX/PR Newswire.Contact Alex Cole, Director of Strategic Communications, IREX
acole@irex.org
202-628-8188

 

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World Cup 2026: Morocco confirms it will bid to host tournament
August 12, 2017 | 0 Comments
South Africa hosted the World Cup in 2010

South Africa hosted the World Cup in 2010

The Moroccan Football Federation has announced it will bid to host the 2026 World Cup.

The deadline for countries to express their intention to bid to host the tournament is Friday, at which point Fifa will confirm the bidders.

The United States, Canada and Mexico announced in April that they intend to put forward a joint bid.

The World Cup has only been hosted once in Africa – in South Africa in 2010 – and this will be Morocco’s fifth bid.

The Confederation of African Football (Caf) gave its backing to a Moroccan bid in July.

A total of 48 teams, rather than the current 32, will compete at an expanded tournament in 2026 after changes announced by Fifa earlier this year.

The decision on who will host event will be made in 2020.

Fifa’s rotational hosting policy means Africa is one of four confederations that can bid to host the 2026 finals as Europe (Russia 2018) and Asia (Qatar 2022) cannot be considered.

*BBC

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How much have development strategies changed in Africa since independence?
July 29, 2017 | 0 Comments

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Ibrahim Hassane Mayaki (left), former prime minister of Niger; Nkosazana Dlamini Zuma (center), former South African minister of health; and Carlos Lopes, former executive secretary of the U.N. Economic Commission for Africa, during a 2013 working breakfast of the 29th Session of the New Partnerships for Africa’s Development at African Union headquarters in Addis Ababa, Ethiopia. (GCIS/Flickr)

Ibrahim Hassane Mayaki (left), former prime minister of Niger; Nkosazana Dlamini Zuma (center), former South African minister of health; and Carlos Lopes, former executive secretary of the U.N. Economic Commission for Africa, during a 2013 working breakfast of the 29th Session of the New Partnerships for Africa’s Development at African Union headquarters in Addis Ababa, Ethiopia. (GCIS/Flickr)

This week in the African Politics Summer Reading Spectacular, we talk about economic development in Africa. In a broad study of nine African countries, Landry Signé examines innovation in development in his book, “Innovating Development Strategies in Africa: The Role of International, Regional and National Actors.” Signé kindly answered my questions about the book.

Kim Yi Dionne: As you observe in your book, both African and international development leaders invoke innovation in describing their development strategies. But how much have development strategies in Africa actually changed over the decades since independence?

Landry Signé: It depends on the way you think about innovation. In identifying innovation, most scholars focus on the content of development policy. They ask if a new development strategy is just “old wine in a new bottle,” usually on their way to explaining why a policy is doomed to fail. This substantive perspective often overlooks the slow-moving processes of some development innovations.

Most scholars have taken little interest in explaining development strategies in a procedural sense, at least when focusing on Africa. By procedural, I mean the forms, processes and mechanisms by which development strategies emerge, change and impact development outcomes over the long term.

My book examines both perspectives on innovation — substantive and procedural — and pays special attention to the lesser-explored one: procedural. Much of the research by scholars working from a substantive perspective find a lot of continuity in development strategies in Africa. But I find in my work that there are innovations — often incremental ones — which lead in the long run to much more substantial and often overlooked economic and institutional transformation.

After independence, African countries shifted from state-led development to various levels of state withdrawal in the 1980s, combined with strategies for economic integration and development. In the 1990s, states continued to disengage, but added social protection measures. In the 2000s, the emergence of the World Bank’s Poverty Reduction Strategy Papers and the New Partnership for African Development (NEPAD) have marked a return to a more significant role for public institutions and continentwide development strategies in promoting economic development in a more market-friendly context. Only looking at the content of strategies, and not taking into account the process of emergence and the long-term impact of policies would miss this incredible transformation over the last few decades.

KYD: An important point you make in your book is that development strategies can be considered innovations even if they fail. Is there a failure you think is a good example of innovation in African development strategy?

LS: New development policies, whether substantially or procedurally innovative, could lead to poor outcomes over the short run, but can also contribute to a much more important dynamic of change. For example, although structural adjustment programs (SAPs) have broadly been considered a failure, they have defined new rules of the game and practices resulting in better macroeconomic management, increased accountability and governance effectiveness. Together with debt relief and a favorable international context, SAPs thus contributed to the transformation and overall good economic performance of African economies in the beginning of the 21st century. When scholars only focus on short-term impacts, they overlook more transformational changes brought by apparently failed policies.

KYD: Your book examines development in nine French-speaking countries formerly colonized by France. Why did you focus on these countries?

LS: I aimed to explain the overall transformation of African economies since the 1960s, providing a big picture of the changes which have taken place in development strategies. To make the study manageable, I first constructed a continental puzzle inspired by Paul Collier and Stephen O’Connell’s classification of African countries by economic structure and economic policy orientation. I wanted the sample of countries I studied to be a mix of low and middle-income countries, oil producers and non-oil producers, landlocked and poor in natural resources and landlocked and rich in natural resources, those that are coastal and poor in natural resources and those that are coastal and rich in resources, and those with socialist-leaning economies and those that are liberal-leaning.

After finalizing the continental classification, I realized that enough former French colonies were well represented in all the relevant categories to cover the full range of criteria for the continental analysis. I ultimately chose Benin, Burkina Faso, Cameroon, Congo, Ivory Coast, Mali, Niger, Senegal and Togo for many reasons.

First, as members of the CFA franc zone, they have similar monetary policies. At the same time, these countries had contrasting economic structures, economic policy orientations and development outcomes. These important contrasts, despite the countries’ similarities, were more important in my decision to choose Francophone countries, than their former belonging to the French colonial empire, even if both are intertwined.

Second, I wanted to look at countries that shared the same colonial power as part of a growing effort among African scholars to dismantle the myth that colonial heritage is the main driver of contemporary development strategies in Africa. More and more work shows that domestic political economies interacted with international influence to shape development outcomes.

KYD: How might we take what we learn from your study to examine development in — for example — former British colonies or former Portuguese colonies?

LS: My book’s goal was to better understand how economic development strategies emerge and transform economies in sub-Saharan Africa — not only in Francophone Africa. I offer a theory explaining change over time in African development policies that applies broadly to African countries that underwent structural adjustment, whether former French, British, Portuguese, Belgian or Spain colonies.

I focus on the dynamics of domestic political economies in African countries and on their interactions with external actors. Despite the asymmetry in power relations with their international counterparts, African governments still have agency in making decisions about their development. My book offers a framework for understanding these interacting dynamics in the emergence and evolution of economic policies and development institutions in Africa.

Finally, I’ll say that one takeaway from my book is that we should take a broader view. While we researchers witness institutional and political continuities in the short run, even minor innovations can give rise to great political, economic and social innovations and transformations in the long run.

*Source Washington Post.Landry Signé is a distinguished fellow at Stanford University’s Center for African Studies, professor and senior adviser to the chancellor on international affairs at the University of Alaska Anchorage, Andrew Carnegie Fellow, Wilson Center Public Policy Fellow, Tutu Fellow and World Economic Forum Young Global Leader. Follow him on Twitter @landrysigne.

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Women Advancing Africa placing women at the centre stage of Africa’s Economic Advancement
July 28, 2017 | 0 Comments
The Women Advancing Africa Forum is set to bring some of the continent’s best and brightest minds together to shape a common agenda to accelerate the economic advancement of women in Africa
Graca Machel

Graca Machel

DAR ES SALAAM, Tanzania, July 28, 2017/ — The inaugural Women Advancing Africa (WAA) Forum is a new Pan-African flagship initiative launched by the Graça Machel Trust to acknowledge and celebrate the central role women play in shaping Africa’s development agenda and by driving social and economic transformation. The Forum will take place from 9-12 August in Dar-es-Salaam, Tanzania at the Hyatt Kilimanjaro.
Mrs. Graça Machel says, “Africa has experienced tremendous development in the last few decades, however a significant gap in the economic advancement of women remains a huge challenge.

Africa is in a second liberation era – the economic liberation. Women can no longer be secondary or marginal, and through Women Advancing Africa the Trust wants to enable women to take centre stage in the economic advancement of Africa. The Trust is establishing a platform for women to claim their right to sit at the table where the decisions are made and to shape the policies, plans and strategies for our futures and those of the generations to come.”

The Trust is honoured to have H.E. Samia Suluhu Hassan, Vice-President of the United Republic of Tanzania and member of the UN Secretary-General’s High-Level Panel on Women’s Economic Empowerment join the WAA Forum to share her insights on issues that will be discussed over the four days. The Forum will consist of interactive sessions organised around three core pillars: Financial Inclusion, Market Access and Social Change.
Inter-generational and inter-sectoral mix of participants attending WAA Forum

With an estimated attendance of 200 participants from across the continent, the WAA Forum will play host to a diverse mix of women and youth representing thought leaders and influencers from the private sector, philanthropy, academia, civil society, government, development agencies and the media who will bring their voices, experiences and ideas to strategize, set priorities and craft a common agenda to drive Africa’s social and economic transformation.
A number of speakers from key economic sectors such as mining & extractives, agri-business, banking, telecommunications, media, healthcare, goods and services will bring their knowledge and expertise to the Forum. Notable speakers include Leymah Gbowee, the Liberian peace activist and recipient of the Nobel Peace Prize; Vera Songwe, Executive Secretary of the United Nations Economic Commission; Dr. Monique Nsanzabaganwa, Vice Governor of the National Bank of Rwanda; and Sheila Khama, Practice Manager at World Bank’s Energy and Extractive Industries Global Practice.

A Social Progress Agenda
A series of side events will also be held alongside the WAA Forum on variety of issues including Food and Nutrition, Education and Child Marriage, Leadership and Wellness, to drive home the importance of social change as an integral part of addressing women holistically.

We are honoured to be joined by Gertrude Mongella, former President of the Pan African Parliament who will be joined by some of Africa’s leading women giants who have shaped the women’s movement in the past and will bring legacy and the future face to face in a gathering at the side of the Forum.

The WAA Forum will also celebrate the diversity of African culture and creativity in all its forms, from language, to design and fashion, to movie making and dance.  This year’s Forum will celebrate African female writers and storytellers who are challenging the status quo, reshaping narratives and developing a deeper understanding and appreciation of the creative industries and their role in driving social progress.

Research looking at the Narrative and Economic participation of Women in Africa
A number of reports will also be launched during the Forum. Together with the United Nations Economic Commission for Africa (UNECA), Graça Machel Trust will be launching a study on “The Female Economy in Africa”.  The study analyses the participation of the women’s work in Africa focussing on gender gaps in the economy, participating in national politics, financial inclusion and sectoral segregation.  The study provides a baseline to track and measure the progress in women’s economic activity and advancement, with regular updates on the Index being shared.

The Graça Machel Trust’s Women in Media Network will also launch a research report on the coverage and portrayal of women in media entitled: “Women in Media – What is the Narrative?” The session will be broadcast as a Facebook Live event with interactive participation in the post launch In Conversation series to stimulate a broader conversation about the narrative of women in media as well as other storytelling formats and platforms.

Announcements will be made on the WAA website www.WomenAdvancingAfrica and the WAA Facebook page www.Women Advancing Africa – WAA, closer to the time.
Another highlight of this year’s inaugural WAA Forum will be the launch of a coffee table book entitled “Women Creating Wealth: A Collection of Stories of Female Entrepreneurs from Across Africa”. The anthology celebrates women trailblazers in business with a collection of inspirational stories from Botswana, Burundi, Cameroon, Democratic Republic of Congo, Ethiopia, Ghana, Kenya, Malawi, Mozambique, Namibia, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe. The book features a number of enterprising women from the Trust’s women’s networks and a foreword by Mrs. Machel.  The book can be pre-ordered here (http://SheInspiresHer.com/women-creating-wealth).

A movement of women focused on economic advancement
What makes WAA unique? Mrs. Machel explains, “Women Advancing Africa provides a space to bring together the energy, innovation and creativity of women from all parts of the continent to share solutions to make us stronger, united and unstoppable. The Forum is really the catalyst to creating a much larger movement of women centred around the economic advancement of women who will collectively shape and drive a development agenda that is measurable and sustainable.” With a Pan-African footprint spanning 20 countries, the Graça Machel Trust will leverage our women’s networks in Agribusiness, Business and Entrepreneurship, Finance and the Media to work with the larger WAA movement to catalyse the Forum’s agenda into actions with measurable and sustainable outcomes.
To be part of this exciting initiative, you can register here (http://WomenAdvancingAfrica.com) or take up one of the available exhibition or side event options available.

The Trust would like to thank our generous partners who have helped make our vision a reality. Special thanks to The UPS Foundation, the Intel Foundation, American Tower Corporation, and UN Women.  Media partners include: the ABN360 Group, incorporating CNBC Africa and Forbes Africa; the Nation Group and locally based Azam Media Group. The WAA Forum’s convening partner, APCO Worldwide has worked closely with the Graça Machel Trust, providing expertise and insights to develop this one-of-a-kind women’s network.  These partners share the Trust’s belief that advancing women economically is crucial to the health and prosperity of African families, communities and nations.

 

The Graça Machel Trust is an organisation that works across the continent to drive positive change across women’s and children’s rights, as well as governance and leadership. Through our support of local initiatives and connecting key stakeholders at a regional, national and sub-national level, we help to catalyse action where it is needed.  By using our convening power the Trust seeks to: amplify the voices of women and children in Africa; influence governance; promote women’s contributions and leadership in the economic social and political development of Africa.

The Network of African Business Women (NABW) provides women with opportunities to freely and effectively participate in the economic development of their countries through the establishment of sustainable business ventures. Through training, mentorship and capacity building, the Network supports business women’s associations and existing business women generating a much needed upsurge of growth-oriented, African women entrepreneurs.

The African Women in Agribusiness Network (AWAB) addresses challenges in food security and identifies opportunities for women in the agricultural sector. The network advocates for initiatives that enhance women’s competitiveness in local and global markets. AWAB also seeks to foster market linkages for women, connecting them to projects in the agricultural sector that can improve their access to resources, knowledge and training.

New Faces New Voices (NFNV)

New Faces New Voices (NFNV) advocates for women’s access to finance and financial services. The network aims to bridge the funding gap in financing women-owned businesses in Africa and to lobby for policy and legislative changes. The overall objective of the network is to advance the financial inclusion of women by bringing more women into the formal financial system.

The Women in Media Network (WIMN) is the latest Pan-African network established by the Trust.  It comprises a network of African women journalists who individually and collectively use their influence and voice to help shape and disseminate empowering storylines about Africa’s women and children.

Founded in 1984, APCO Worldwide is an independent global communication, stakeholder engagement and business strategy firm with offices in more than 30 major cities throughout the world. We challenge conventional thinking and inspire movements to help our clients succeed in an ever-changing world. Stakeholders are at the core of all we do. We turn the insights that come from our deep stakeholder relationships into forward-looking, creative solutions that always push the boundaries. APCO clients include large multinational companies, trade associations, governments, NGOs and educational institutions. The firm is a majority women-owned business

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