East Africa International Arbitration returns to Nairobi

East Africa International Arbitration

The annual East Africa International Arbitration Conference returns to Nairobi this summer on the 29th & 30th August 2019 at the Radisson Blu Hotel for its 7th edition. EAIAC provides an unrivaled platform for International Arbitration practitioners, arbitration users, state counsel, academia, and in-house corporate lawyers to learn, share best practice, network and deliberate on International Arbitration as an important tool for promoting FDI in Africa.

EAIACequally provides a forum to promote, profile and celebrate Africa’s International Arbitration & Arbitrators​.

Themed “Government Contracting and Investment Disputes: Lessons for States and Investors” the conference will explore the full spectrum of government contracting from procurement and PPPs (public-private partnerships), tender disputes, dispute mitigation in government contracts, investment arbitration and arbitrating with governments in African centers.

East Africa International Arbitration
 

Boosted by it’s long -term development blueprint, Vision 2030, and its mid-term development plan, the Big Four Agenda, Kenya is indeed a fitting venue for the conference. The country has experienced a surge in government contracting over the recent past and only last year, the Kenyan government successfully defended two high profile investment arbitrations: an ICC arbitration relating to the power sector; and an ICSID arbitration in the mining sector.

Notably, across Kenya’s borders, various African countries have also published blueprints to be mid-level economies by the first half of this century. The momentum for investment in Africa’s investment in renewable energy, infrastructure development, agriculture, healthcare, and education continues despite global uncertainty.

These interests in African economies is further encouraged by the establishment of the African Continental Free Trade Agreement (AfCFTA) which entered into force on the 30th May 2019 with 24 out of 55 Africa states have deposited their instruments of ratification. We see some Governments making attempts to become transparent and efficient in contracting.

All these developments set out a strong case for international arbitration and its development in the continent. It is for this reason that the East Africa International Arbitration platform exists, to promote the arbitration practice, support Africa centers build relationships and their profile, create a platform for shared experience, a place where arbitration practitioners and users can meet to network and acquire new skills.

The discussion topics will be delivered by leading Africa and international experts in discussion panels, Oxford-style debates and masterclasses tackling some of the pertinent issues in Africa’s arbitration space. The keynote address will be delivered by Hon. Justice David Maraga, Chief Justice, Republic of Kenya.

The speakers will attempt to respond to questions like; How can governments and investors better contract? Disputes are expensive, even for the winner –can they be mitigated? Can damages be better assessed and recovered? Do African international arbitration centers and practitioners have a place in investment arbitration and many more.

AFRICA ARBITRATION AWARDS 2019

In addition to this year’s program, the EAIAC will celebrate achievements and success in Africa Arbitration at the Inaugural Africa Arbitration Awards 2019.

Africa Arbitration Awards aim to celebrate, recognize and honor outstanding practitioners and leaders in the Africa arbitration ecosystem and will be celebrated at the Gala Dinner on Friday 30th August 2019 at the Radisson Blu, Nairobi.

Awards Categories:

  • African Arbitrator of the Year
  • Young African Arbitrator of the Year
  • Leading Case Counsel Team
  • Innovation in Arbitration
  • Leading Case Service Provider

Nominations Process

  1. Nominations are open to all International Arbitration practitioners in Africa. Self-nomination is allowed.
  2. Nominations will be subjected to a panel of judges for review.
  3. 3 shortlisted nominees will be announced for a round of voting by the Arbitration community.
  4. The overall winners will be announced at the Awards Gala Dinner.

Nominations are open at www.AfricaArbitrationAwards.org We invite you to celebrate an amazing person in arbitration, including your contacts, colleagues, or team by nominating them in either of the categories above.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Germany, Norway support Kofi Annan International Peacekeeping Training Centre’s (KAIPTC) maiden ‘Kofi Annan Peace and Security Forum’

Kofi Annan

On 4 – 5 September 2019, the Kofi Annan International Peacekeeping Training Centre (KAIPTC), under the distinguished patronage of H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana and the Chairmanship of HE Dr. Mohamed Ibn Chambas, Special Representative of the UN Secretary-General and Head of the UN Office for West Africa and Sahel (UNOWAS), will host “The Kofi Annan Peace and Security (KAPS) Forum”.

The Federal Government of Germany and the Government of Norway are providing financial support for the delivery of the forum. Billed to be an annual event, the KAPS Forum will bring together political leaders, diplomats and experts to dialogue and share ideas on the most critical evolving peace and security trends on the African continent.

Kofi Annan
 

The forum also seeks to deepen collaboration between KAIPTC and international organizations such as the United Nations, African Union, Regional Economic Communities, Governments, development partners, civil society organizations and the business community.

The theme for this maiden edition is ‘Peace Operations in the Context of Violent Extremism in Africa.’

Speaking at the media briefing for the KAPS Forum, H.E. Hans-Helge Sander, Deputy German Ambassador to Ghana noted that; “This Forum will provide an excellent occasion to discuss collective actions on how to strengthen a proactive international and continental effort to prevent and effectively counter violent extremism in Africa”.

The Deputy Ambassador also briefed the media on Germany’s long-standing and strong support to KAIPTC through the provision of Police and Military Advisors as well as a GIZ support mission. “Because of the already existing support the German government offers, we are delighted to support KAIPTC´s maiden edition of the “Kofi Annan Peace and Security” Forum in Accra”, he affirmed.

The Commandant of KAIPTC, AVM Evans noted that “the KAPS Forum is in memory of Kofi Annan, the former Secretary-General of the United Nations who dedicated his life to mobilizing political will to address evolving human security threats”.

Commenting on one outstanding feature of the forum, he added that “our forum will be a working forum and we will ensure that when recommendations are made, they are followed through until progress is made”.

The Forum will bring together two hundred high-level delegates including eight former African heads of state and diplomats from governmental and intergovernmental organizations (including the African Union and its Regional Economic Communities, United Nations and European Union). Security professionals and representatives from policy and research think tanks, development partners, training institutions and civil society groups have been invited and are expected to attend the forum.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

These Former Prison Warden And Guard Have Just Launched South Africa ’s Latest Ride-Hailing Startup

South Africa hailing startup

No option but to give the glory to them. 700 drivers. R2.3 in personal funding, former South African prison warden and former South African former security guard warden have teamed up to launch Taxi Live Africa — South Africa’s latest in a long string of e-hailing apps — and claim to have invested R2.3-million of their own money in the startup so far. The Durban and Cape Town-based company is South Africa’s latest in a number of the ride-hailing company, following the launch earlier this year of “Sushi King” Kenny Kunene’s Yookoo Ride and Ridver, launched by Opynio Media and Technology, a black woman-owned company (see this story and this one).

Image result for ride hailing startups Africa

Here Are The Details

  • Former prison warden Luvuyo Ntshayi and Soyiso Qotyiwe, a former security guard turned taxi driver, last month launched the app to residents in Durban.
  • Ntshayi said the company — which he says he’s spent two years researching and developing — has signed up over 700 drivers in Durban and more than 100 in Cape Town, where the company aims to expand to next (see also this story by our sister site Memeburn).

Luvuyo Ntshayi, former prison warden and Soyiso Qotyiwe, a former security guard, claim they have invested R2.3m in Taxi Live Africa

  • The ride-hailing startup has initially focused on meter taxi drivers — to help them to compete against e-hailing sector, which was why the company kicked off operations in Durban, where Ntshayi says he received strong demand from local meter taxi drivers for the offering.
  • But he says this doesn’t mean the app is only for meter taxi drivers. Private drivers from the e-hailing sector are also welcome to use the app.
  • The company charges drivers a commission of 13%, a rate which Ntshayi says is both fair to drivers and sustainable for his business.
  • Ntshayi estimates that he and Qotyiwe have together invested R2.3-million in developing the company and the app. He says the amount includes the cost of traveling to Asia where he claims he visited several companies to research the idea of an e-hailing app further. He declined to name the countries and companies he visited.
  • The company, he says, presently has 14 employees — eight in a Durban office and six in Cape Town. It also has an outside developer team of four.
  • Image result for South African ride hailing startups
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Life After Prison

  • Ntshayi says in 2008 he joined the correctional services department as a prison warden. In 2012 he completed an HR Diploma before a year’s stint in 2014 as an HR officer at South Africa ‘s Department of Rural Development and Land Reform.
  • He left his life as a public servant after he secured a R50 000 grant in 2015 from the National Youth Development Agency (NYDA) to set up a detergent manufacturing business in Blue Downs, Cape Town.
  • However, he says despite help from a mentor, the business never got off the ground. He puts this down to his lack of experience in manufacturing.
  • Ntshayi — who says he’s had calls from those in neighbouring countries to offer his app’s service there — says however that he’s not focusing on competing with the likes of Uber and Bolt which together dominate the ride-hailing sector.
  • But he points out that his business’s focus on customer care, including the use of a call centre and a live online chat facility, will help it to gain acceptance in the market.
  • “We’re not really wanting to be better than anyone from the word goes — we just want to learn,” Ntshayi says. 

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

NBA announces the roster of boys and girls teams that will represent Africa in the Jr. NBA Global Championship

Jr. NBA Global Championship

Twenty Youth Players from Eight African Countries selected to compete in Second Jr. NBA Global Championship in U.S. Aug. 6-11 at ESPN Wide World of Sports Complex at Walt Disney World in Florida

The NBA today announced the 10 boys and 10 girls who will represent the African continent in the second Jr. NBA Global Championship, a youth basketball tournament for the top 13- and 14-year-old boys and girls teams from around the world that will be held Aug. 6-11 at ESPN Wide World of Sports Complex at Walt Disney World near Orlando, Florida.

Jr. NBA Global Championship
 

The 20 youth players representing eight African countries were selected from Jr. NBA programs and clinics held across the continent. Bahati Mgunda (Tanzania) and Samba Fall (Senegal) were selected to coach the girls and boys teams, respectively.

          *Africa Girls Team

  • Shaza Ayman (Egypt)
  • Badmus Mistura Bisola (Nigeria)
  • Fatou Cisse (Senegal)
  • Jana Ehab (Egypt)
  • Merit Atebe Innocent (Nigeria)
  • Sandrine Kamgain (Cameroon)
  • Ndeye Ndiaye (Senegal)
  • Aisha Nhantumbo (Mozambique)
  • Leslie Catherine Njukoua (Cameroon)
  • Kadidia Traore (Mali)

 

*Africa Boys Team

  • Hassan Amer (Egypt)
  • Badara Aliou Diakite (Mali)
  • Khadim Rassoul Diongue (Senegal)
  • Seydina Limamoulaye Faye (Senegal)
  • Mohamed Fofana (Guinea)
  • Dieu Merci Bolisomi Ilonga (DRC)
  • Ngeleka Kabeya (DRC)
  • Said Nkene F. Michel (Cameroon)
  • Marouf Moumine (Cameroon)
  • Emmanuel Owonibi (Nigeria)

 

In the inaugural event last year, the Africa & Middle East boys team won the international division to advance to the global championship game where they lost to the U.S. Central boys team and finished as the tournament runner-up. Marouf Moumine (Cameroon), who will be returning with the Africa boys team, was recognized with the Determination Award at last year’s event and is now a member of The NBA Academy Africa in Saly, Senegal.

He joins Said Nkene F. Michel (Cameroon) as the only other male player returning from last year’s team. Sandrine Kagmain (Cameroon) and Kadidia Traore (Mali) will make their second appearance in the Jr. NBA Global Championship after participating in the Africa & Middle East girls team in the inaugural event.

The Jr. NBA Global Championship will feature boys and girls divisions, separated into the U.S. and international brackets that begin with round-robin play and continue with the single-elimination competition. The winners of the U.S. and international brackets will play in the global championship games on Aug. 11. During the weeklong event, all 32 teams will participate in activities designed to reinforce the Jr. NBA’s core values and provide the players with development opportunities and memorable experiences off the court, including life skills sessions, Disney park visits, and a community service project.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Merck Foundation Calls for Applications for “Merck More than a Mother” Media Recognition Awards and Fashion Awards to break infertility stigma

Merck Foundation

Merck Foundation the philanthropic arm of Merck KGaA Germany organized their first “Merck Foundation Health Media Training” in Lilongwe, Malawi in partnership with H.E. PROF. GERTRUDE MUTHARIKA, The First Lady of Malawi and Ambassador of Merck More Than a Mother together with Ministry of Health and Ministry of Information to break the stigma around infertility in Malawi and rest of Africa.

Merck Foundation also announced the Call for Application of “Merck More Than a Mother” Fashion Awards from Malawi and rest of Africa.

“All Fashion Designers are invited to create a design with the aim to deliver strong and influential messages to empower infertile women and say “No to Infertility Stigma”. Designs ideas can also deliver messages to encourage men to speak openly about their infertility because 50% of infertility causes are due to male factor”, explained Dr. Rasha Kelej, CEO of Merck Foundation and President of Merck More Than a Mother.

Merck Foundation
 

Talking about the Health Media Training program Dr. Rasha Kelejexplained, “This program is a part of ‘Merck More than a Mother’ community awareness Program and was organized for the first time in Malawi for local media representatives and media students”.

According to the First Lady of Malawi, H.E. PROF. GERTRUDE MUTHARIKAemphasized, “We are happy to host this training program together with Merck Foundation. Media plays an important role in sensitizing our society. It can help in breaking the stigma around infertility.”

“It is important to initiate this important training program as I strongly believe that media has the capacity and ability to break the stigma around infertility in our communities in a regular and effective basis.” Dr. Rasha Kelejadded.

The training was addressed by The First Lady of Malawi, H.E. PROF. GERTRUDE MUTHARIKA, who is also the Ambassador of Merck More Than a Mother and Dr. Rasha Kelej, CEO of Merck Foundation and President of Merck More Than a Mother and Hon. Mark Botomani, Minister of Information, Malawi. It was also addressed by the Ministry of Health Officials and stalwarts of Media.

Moreover, it provided a great opportunity for the journalists to meet the experts and also to network with each other and work as a unit to eradicate the stigma around infertility and its resulted domestic violence in Malawi and rest of Africa.

The program was attended by journalists working for Print, TV, Radio and Online media and journalism students.

“The Merck Health Media Training program focused on international standards and media ethics for reporting sensitive issues like infertility and other health issues in Africa. It was designed to benefit the journalists in understanding the infertility issues in African communities and to learn the best media practices to cover such issues” added Dr. Rasha Kelej.

Merck Foundation also announced the call for Application for “Merck More than a Mother” ‘Media Recognition Awards’ for Malawi and rest of Africa. The “Merck More than a Mother” ‘Media Recognition Awards’ were launched in 2017 with the aim to emphasize the role of media in enhancing the public engagement and understanding of infertility stigma and the need to change its social perception in African communities.

The applications are invited by media professionals to showcase their work to raise awareness about infertility prevention and breaking infertility stigma in Malawi.

 

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Forbes Woman Africa Announces First Regional Forum in Rwanda

Forbes

FORBES WOMAN AFRICA is excited to announce the inaugural FORBES WOMAN AFRICA Regional Forum in association with Mastercard, a Leading Women Summit initiative, to be held in Kigali, Rwanda, on 9 August 2019.

Coinciding with National Women’s Day in South Africa, the FORBES WOMAN AFRICA Regional Forum in association with Mastercard will bring together 250 powerful women from across East Africa and will follow in the footsteps of the bigger annual FORBES WOMAN AFRICA Leading Women Summit, bringing a slice of this sought-after gathering to East Africa.

Forbes
 

“The FORBES WOMAN AFRICA Regional Forum will echo the same fervor and sentiment as the flagship Leading Women Summit but in hosting it for the first time in East Africa, what I am very keen on is coming face-to-face with the women who are at the top of their game in this region – the guests and speakers on the day will be luminaries you don’t want to miss meeting,” says Renuka Methil, Managing Editor of FORBES AFRICA and FORBES WOMAN AFRICA.

As an initiative by the FORBES WOMAN AFRICA Leading Women Summit, the full-day, not-to-be-missed event, which will debut in the East African nation, is to be hosted at the Kigali Serena Hotel and will feature some of the exciting content FORBES WOMAN AFRICA has consistently won awards for.

Beatrice Cornacchia, Senior Vice President, Marketing and Communications, Mastercard Middle East and Africa said: “African women are a force for economic growth and social change, and are playing a critical role in addressing the development challenges faced across the continent.

As cultural and social dynamics shift, we are beginning to see an environment where women can flourish, and demonstrate the value they offer to every industry and sector in the economy. We are proud to partner with Forbes Africa and believe that this initiative will help to create opportunities for women to reach their greatest potential.”

The 2019 FORBES WOMAN AFRICA Leading Women Summit on March 8 saw Supermodel, Philanthropist, Activist and Cultural Innovator Naomi Campbell headline the Durban event, alongside some of the most notable names in business, sports, politics, and the arts.

Further details and speaker profiles will soon be revealed in the buildup to the event.

The FORBES WOMAN AFRICA Regional Forum in association with Mastercard will be a by-invitation-only gathering and further information can be obtained by following @LWSummit on Twitter.

The FORBES WOMAN AFRICA Regional Forum in association with Mastercard will be managed and produced by ABN Event Productions.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

This Morocco-Based Accelerator Is Looking For Startups To Invest In

Hseven startups

For African startups looking for funding, this is a huge opportunity that does not come often. Hseven, Africa’s largest accelerator is launching Hseven Disrupt Africa, an ambitious startup acceleration program designed for entrepreneurs of the Moroccan and African diaspora.

Hseven startups
 

The 6-month program will provide a seed investment of €150,000 plus an eventual investment of €500,000 to €1.5 million.

A Look At The Funding 

  • Hseven Disrupt Africa is designed to support exceptional entrepreneurs building high-impact startups and targets seed and early-stage startups with 2 to 5 founders that are eager to impact Africa through innovative services, products, and business models.
  • The program will start with a global call for applications, followed by an international selection roadshow in New York, Montréal, San Francisco, Shanghai, Dubaï, Londres, Amsterdam, Paris, Casablanca.

HSEVEN@HSevenAfrica

Let’s build your startup together! Join the largest accelerator in Africa for a 3+3 months program and access to a 150.000€ investment, +350 world-class mentors, 50 VCs and a solid network of renowned partners!

Apply now: http://bit.ly/HSevenTW #Startup #Accelerator #Africa

 

  • The selected startups will benefit from a seed investment of €150,000 at the beginning of the program for 5 to 7% equity, then an eventual investment of €500,000 to €1.5 million at the end of the program.
  • These investments will be granted through a partnership with the venture capital firm Azur Partners. The program will also benefit from the funding of the Dutch Good Growth Fund (DGGF) and the Innov-Invest program of the Caisse Centrale de Garantie (CCG) with the support of the World Bank.
  • The startups will be given strategic advice and expertise, access to key networks and capital through our partners Azur Partners, Fabernovel, Strategy&, PricewaterhouseCoopers (PwC), l’École Centrale, Amazon Web Services and the top 50 Venture Capital firms interested by Africa. They will also benefit from tailored mentoring with +350 Moroccan and international mentors.

Read Also: This Moroccan Investor Is Looking To Invest Over $250k In Startups From Around World

The selected startups will be located at HSEVEN’s 12,000 ft² campus in the heart of the Marina of Casablanca. 

The call for applications is now open and 10 startups will be selected to take part in the program.

“We will bring the best Moroccan, African, and African-at-heart entrepreneurs from all over the world to build impactful world-class African startups,” said Amine Al-Hazzaz, Founder & CEO of HSEVEN.

Click here for more details and application closes on 31st August 2019.

 

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

South African Startups Have A New Fund 

South Africa Startups

Good news for startups and small businesses across South Africa. A new R130 million (over $9.3m) fund is at stake, targeting only 10 startups, each of which must have a black founder. The new fund is from Cape Town-based venture capital firm, 4Di Capital and the SA SME Fund.

South Africa Startups
 

A Look At The Fund

  • Cape Town-based venture capital (VC) fund with the launch of the R130-million fund aims to invest in at least 10 tech startups. Half of the R130-million will be targeted at startups with at least one black founder.
  • The over R1.4-billion SA SME Fund is capitalized presently by 54 JSE-listed firms and R500-million from the Public Investment Corporation (PIC). The fund was launched under the CEO Initiative. 4Di Capital is one of eight funds that the SA SME Fund has invested in (see this story).
  • 4Di Capital partner Justin Stanford noted that R125-million of 4Di Capital Fund III’s first close of R130-million was from SA SME Fund, the rest has been committed by the VC.

We will be looking at options in terms of raising additional capital for the fund but for now there are no fixed plans yet — in principle though the fund is still open to new investment,” said Stanford.

4Di Capital’s new R130m fund is backed by R125m from the SA SME Fund

Who Can Access The Funds?

Stanford said the fund will follow the VC’s usual modus operandi, which is to target tech startups in the early and growth stages.

The fund is vertical agnostic but the VC will look at deals for example in: 

  1. Insurtech
  2. Fintech
  3. Edtech
  4. Agritech, adding that the VC will look at a spread of both early and growth stage.

“It is designed to work together with our Exponential Fund as well, so will also co-invest in certain deals that match the mandates on both sides,” he added.

He added that the fund will invest in at least 10 companies and pointed out that the first few deals are already under consideration.

A portion of the SA SME Fund capital has been earmarked for companies that have founder teams which include black founders.

See Also: South Africa: How To Get National Empowerment Fund (NEF) To Support Your Startup

When asked how much exactly would go to startups with black founders, Stanford said while it is “difficult to predict” the exact amount that will be invested in the end, the VC fund will aim to invest “roughly half” of the R130-million in such firms.

4Di Capital is an independent and specialist seed, early and growth-stage technology venture capital fund manager based in Cape Town, South Africa with an office in Atlanta, Georgia, U.S.A., focusing principally on scalable South African and African technology opportunities.

Among others, the fund has already invested in the enterprise web platform, cloud scaling infrastructure, bio-mathematical health technology, and financial technology ventures.

The SA SME Fund, on the other hand, was established by members of the CEO Initiative — a collaboration between government, labour, and business to address some of the most pressing challenges to the country’s economic growth — as an avenue of support for the SME sector.

It allocates investment capital to accredited fund managers — venture capital or growth-oriented equity funds — that invest directly in scalable small and medium enterprises with the best potential for growth and sustainable employment creation in the South African economy.

 

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Equatorial Guinea aims to boost opportunities for African services companies

Equatorial

In order to strengthen cooperation amongst African companies, encourage the development of strong African content and promote joint-venture opportunities, Malabo will be hosting the Oil & Gas Meeting Day on October 1-2, 2019. The summit is part of Equatorial Guinea’s Year of Energy and will focus on exploring opportunities and deals amongst services companies, which are central to the development of strong African capabilities across the oil & gas value chain.

The African Energy Chamber (EnergyChamber.org) strongly supports the National Alliance of Hydrocarbons Service Companies (NAHSCO) in the organization of this upcoming Oil & Gas Meeting Day. We invite all our partners, especially national oil companies and public and private services companies, to come to Malabo in October. This will be a key platform for dialogue and deals with international, technology and services companies.

Equatorial
 

“Equatorial Guinea is rapidly becoming a hub for African service companies, driving a regional approach to local content based on partnerships and oil industry cooperation,” said Nj Ayuk, Executive Chairman at the African Energy Chamber and CEO of the Centurion Law Group.

“The development of a strong African oil services industry is crucial if we want to get value out of our natural resources and create jobs. The way to build African capacities is to work together and create jobs, and we are happy Malabo is bringing everyone together.”

The Oil & Gas Meeting Day will offer opportunities for African services companies to make deals with regional and international partners and drive global transformations within the oil services industry.

More importantly, it will provide a platform to share experiences on local content and advocate for regionalization of local content development within African oil markets. “With this meeting, African services companies and national oil companies have the chance to not only be part of the game but change it to their benefits,” added Nj Ayuk.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Zambia must use renewable natural resource to revive its economy – World Bank

Zambia

Zambia’s path to economic recovery remains weak, reflecting both exogenous and policy uncertainties say the latest World Bank’s Economic Brief on Zambia, titled: Wealth Beyond Mining: Leveraging Renewable Natural Capital.

Despite the Zambian economy growing by 3.7 percent in 2018 from 3.5 percent in 2017, a stronger recovery was undermined by lower crop harvest and fiscal slippages that led to the accumulation of new public expenditure arrears and high government borrowing that impacted private sector activity.

Under the current policies, growth is forecast to weaken to 2.5 percent in 2019 and remain below 3 percent over the medium-term. While inflation remained within the authorities’ target range of 6-8 percent in 2018, averaging 7.5 percent for the year, pressures are now mounting, leading the central bank to tighten its monetary policy stance in May 2019 for the first time in over two years.

“Zambia needs to undertake bold fiscal and structural policy reforms to preserve macroeconomic stability, boost business and market confidence, and improve its growth prospects for 2019 and beyond in line with the Zambia Plus,” said Samson Kwalingana, World Bank Senior Economist for Zambia.

The brief suggests some policy options including (i) front-loading fiscal consolidation to return to medium risk of debt distress and create fiscal space for inclusive growth; (ii) strengthening debt management to reduce the debt service burden and minimize debt-related vulnerabilities; (iii) rebuilding foreign exchange reserves to buttress external stability, and (iv) implementing plans to improve the financial and operational sustainability of ZESCO and enhance the transparency of State-Owned Enterprises (SOEs).

The report highlights multiple opportunities that Zambia’s abundant renewable natural resources present to support sustainable economic growth. “Zambia’s economy has thus far been dominated by discoveries, expansion, and fluctuations in the minerals sector, but going forward, the country needs to harness its renewable natural resource endowment to promote sustainable growth.

While the contribution of renewable resources like agricultural land, forestry and fishing to GDP has declined in recent years, the sector’s linkages with the rest of the economy remain significant,” said Ina Ruthenberg, World Bank Country Manager for Zambia.

The Brief notes that the Bank’s recent Systematic Country Diagnostic revealed risks in the current use of Zambia’s natural resources, particularly the increased levels of deforestation from increased agriculture expansion and charcoal production.

Investments in non-timber products and tourism related to natural areas could generate high economic returns for the country without contributing to deforestation. Similarly, licensing for forestry products (i.e. timber, honey, wax, and charcoal) can contribute to higher government revenue collection, exports, and foreign exchange reserves.

 

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/