Corporate Council on Africa News Updates

CCA MEMBERS IN THE NEWSPfizer shots protect kids from severe COVID even in omicron
The Associated Press
Pfizer’s COVID-19 vaccine gave children 5 and older strong protection against hospitalization and death even during the omicron surge that hit youngsters especially hard, U.S. health officials reported Tuesday… Read more>>
US Seeks More Investment Opportunities in Africa 
The East African
The US government is exploring ways to expand trade and investment opportunities in Africa, in a bid to scramble for the control of the continent’s raw materials with other world’s powerful nations such as China and Russia… Read more>>

Africa: What Africa Needs to Deal with Recurring Drought #AfricaClimateCrisis
All Africa
According to the United Nations, World Food Programme (WFP), up to 13 million people living in the Horn of Africa are facing severe hunger because of record breaking droughts brought about by dry weather and climate change. This is predicted to worsen unless various stakeholders take short and long-term actions… Read more>>

AgDevCo secures $90m of DFI Funding to Further Invest in African Agribusinesses to Deliver Jobs, Incomes, and Food
CDC Group
AgDevCo, the specialist investor in early-stage African agribusinesses, today announced a $90m package of new funding from the CDC Group, Norfund and U.S. International Development Finance Corporation which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa. This is in addition to the announcement of supplementary funding of up to $5.4m from CDC, Norfund and the UK’s Foreign, Commonwealth and Development Office (FCDO) for AgDevCo’s integrated technical assistance facility… Read more>>

Ukraine Crisis: Will African Oil Producers Take Advantage of Increasing Prices?
Russia’s invasion of Ukraine, and the sanctions that followed, has pushed the price of oil to over $100 per barrel, the highest level in eight years. But, it’s also opened an opportunity for African oil producers like Nigeria, Angola, Libya, and Algeria to cash in with more crude oil exports. But a lack of refineries in Africa means crude oil exporters will also have to pay more for imported fuels…. Read more>>

A New Distribution System is Helping African Countries Ramp Up Vaccinations
The New York Times
African countries will be able to dramatically accelerate their vaccination programs because the system of distributing Covid vaccines has changed, World Health Organization officials said on Thursday. Previously, the W.H.O. would send vaccine doses to African countries as they became available. But since January, countries have been able to request the vaccines they need from the W.H.O. directly, and in what quantity and when…. Read more>>

Kenya to Spend $1 Billion More on COVID Vaccination, Draft Budget Shows
The East African
Kenya is expected to spend Ksh121 billion ($1.06 billion) more on enhanced Covid-19 vaccination in the next financial year as it gears up to set the trend in the post-pandemic recovery within the East African region.The details are contained in a draft budget statement which will this year come early in March to free other funds for the General Election due in August…. Read more>> 

Africa Investment Forum Boardroom Sessions
Africa Development Bank
Africa Investment Forum to hold virtual boardroom sessions 15-17 March, showcasing over $50 billion in bankable projects…. Read more>>

Prime Minister Inaugurates New Warehouse of the State Trading Corporation in Mer Rouge
Republic of Mauritius
The Prime Minister, Mr Pravind Kumar Jugnauth, inaugurated, this afternoon, the new warehouse of the State Trading Corporation (STC), in Mer Rouge. The building is named after the 1982 Minister of Commerce and Industry, Mr Abdool Kader Bayat, as a tribute to his immense contribution as regards the creation of the STC…. Read more>> 

Nigeria: MTN, Mafab Pay $273.6 Million Each for 5G Licence – NCC
All Africa
Provisional winners of the 3.5 Gigahertz (GHz) spectrum licence, MTN Communications Nigeria Plc and Mafab Communications Limited, have made full payment of $273.6 million each for the 5G Spectrum license to the Nigerian Communications Commission… Read more>>

UN Official Proposes Technology Development and Transfer Network for Africa
Engineering News
To stimulate development and innovation across Africa, an ‘African Technology Development and Transfer Network’ should be created. This was the proposal of Economic Commission for Africa (ECA) executive secretary Vera Songwe, in her opening address on Tuesday, at the fourth Africa Science, Technology and Innovation (STI) Forum, being held in Kigali, Rwanda. The ECA is an agency of the United Nations (UN)… Read more>>

Tourism Outlook: 2022, Good. 2023, Better.
Travel Daily
It’s only February, but 2022 is promising to be a great year for tourism to Southern Africa. Admittedly, it got off to a bit of a rocky start with the omicron variant still fresh on everyone’s minds. But — dare I say it? — things finally seem to have turned a corner: there are new flights from the U.S., a massive surge in interest from American travelers and exciting trade shows on the horizon…. Read more>>

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