(Posted 02nd February 2023)
CCA MEMBERS IN THE NEWS
#EthiopianAirlines is the Official Airline of the 2023 U.S.-Africa Business Summit
Corporate Council on Africa
CCA is pleased to announce Ethiopian Airlines as the official airline of the 2023 U.S.-Africa Business Summit. “As one of the leading carriers in Africa, Ethiopian Airlines continually is seeking partnerships that help discover and develop new business opportunities between the United States and the African Continent. With the announcement of our renewed membership with CCA – Corporate Council on Africa, our airline seeks to continually assist all Pan-African Countries, in both the public and private sector, by supporting CCA’s efforts in establishing the policies and strategies needed to improve the economic partnership between both Regions”. – Mr. Samson Arega, Regional Director Commercial Sales, Marketing & Services -USA…. Read more>>
U.S.-AFRICA RELATIONS
Yellen says Africa to shape world economy as US reengages
AP News
U.S. Treasury Secretary Janet Yellen watched Ford cars and pickup trucks being assembled at a plant in South Africa on Thursday, citing it as an example of cooperation between Washington and Africa as she begins the Biden administration’s big push to reengage with a continent that has 1.3 billion people and an abundance of economic potential….. Read more>>
US urges donors to give far more as Somalia faces famine
AP News
The first U.S. Cabinet member to visit Somalia since 2015 urged the world’s distracted donors Sunday to give immediate help to a country facing deadly famine, which she calls “the ultimate failure of the international community.”….. Read more>>
Launch of the Vision for Adapted Crops and Soils (VACS) with a Keynote Address from Special Envoy Fowler and Introduction by Ambassador McCain
U.S. Department of State
The U.S. Department of State, Office of the Special Envoy for Global Food Security, in partnership with the African Union and Food and Agriculture Organization of the United Nations, is launching the “Vision for Adapted Crops and Soils” (VACS) — a multi-phase initiative grounded in the objectives of Feed the Future that will improve global food security….. Read more>>
AGRIBUSINESS
Africa needs to learn to feed itself, says Senegal president
Reuters
Africa must produce more food instead of relying on imports and aid, Senegalese President Macky Sall told leaders gathered in the West African nation’s capital for a summit on Wednesday. The continent is facing its worst food crisis ever, with more than one in five Africans – a record 278 million people – facing hunger, according to United Nations estimates…. Read more>>
#Tanzania squeezes Maasai by seizing livestock, report says
AP News
The Tanzanian government is seizing livestock from Indigenous Maasai herders in the Ngorongoro Conservation Area in its latest attempt to clear way for tourism and trophy hunting, a report released Thursday said….. Read more>>
Horn of Africa Drought Drives 22 Million to Hunger
Barron’s
From southern Ethiopia to northern Kenya and Somalia, around 22 million people are at risk of hunger as the worst drought in four decades grips the Horn of Africa. In the afflicted areas, inhabitants — who eke out a living mainly from herding and subsistence farming — are experiencing their fifth consecutive poor rainy season since the end of 2020….. Read more>>
Is there hope for a dying river in Kenya’s growing capital?
AP News
Vultures scavenge for dead animals along a river turned sewer conduit in Kenya’s capital Nairobi. Its waters turn from clear to black as it traverses informal settlements and industrial hubs. The river and its tributaries cross Kibera, known as Africa’s largest slum with close to 200,000 residents, and other informal settlements. It skirts dozens of factories that manufacture textiles, liquor and building materials. Many have been accused by environmentalists of discharging raw sewage and other pollutants like oil, plastic and glass into the water….. Read more>>
ENERGY
How the U.S. Can Better Support Africa’s Energy Transition
Carnegie Endowment for International Peace
Since U.S. President Joe Biden took office in 2021, his administration has made U.S. support for climate action overseas a central component of its foreign policy agenda, with much of the focus on helping accelerate the global energy transition.1 In high-income regions where people generally take energy for granted, carbon emissions are high and renewable energy markets are thriving…. Read more>>
How South Africa’s Energy Crisis Became an Economic Crisis
Foreign Policy
Rolling power cuts in South Africa are severely impacting the country’s growth and increasing the risk of recession. The economic costs associated with electricity outages—known as load-shedding—have reduced GDP by 1 to 1.3 percent annually since 2007, estimates Quinten Bertenshaw, executive director of ETM Analytics….. Read more>>
HEALTH
Children go hungry at Kenya refugee camp as malnutrition numbers soar
The Guardian
Malnutrition among children in one of the world’s largest refugee camps has surged over the past year as concerns grow at worsening conditions at the site in Kenya…. Read more>>
Development partners commit $30 billion to food production in Africa
Reuters
Development partners have committed $30 billion to boost food production in Africa over the next five years, the president of the African Development Bank said on Friday at the close of a summit on food security on the continent…. Read more>>
INFRASTRUCTURE
Zimbabwe Plans a New City for the Rich
Bloomberg
Zimbabwe’s political leaders have a remedy for the collapse of the capital Harare: Build a new “cybercity” with as much as $60 billion of other people’s money. The development in Mount Hampden, 11 miles northeast of Harare, is slated to be the site of the national parliament, headquarters of the central bank, the high and supreme courts, mineral auction centers, a stock exchange, a presidential palace and luxury villas…. Read more>>
IMF approves $86.9 mln extended fund facility for Mauritania
Reuters
The International Monetary Fund (IMF) has approved a $86.9 million extended fund facility for Mauritania, it said in a statement on Wednesday. The Executive Board decision enables an immediate disbursement of $21.7 millions, the statement said. The remaining amount will be phased out over the 42-month arrangement under the extended credit facility…. Read more>>
Africa will outperform the world in economic growth, AfDB projects
Quartz
In the inaugural release of a report dubbed ‘Africa’s Macroeconomic Performance and Outlook’ released on Jan.19, the African Development Bank Group reported that “growth across all five African regions was positive in 2022 and the outlook for 2023–24 is projected to be stable.” The projections are higher than expected global figures (2.7% and 3.2% respectively) for the same period….. Read more>>
Museveni sees Uganda’s economy grow by ‘billions of dollars’
The East African
President Yoweri Museveni on Thursday painted a bright future for Uganda’s economy, which he projected to grow to billions of dollars in “a short time” riding on the newly launched oil drilling in the western part of the country, value addition and continued investments in infrastructure….. Read more>>
ICT
Nigeria launches domestic card scheme to boost cashless economy
Aljazeera
Nigeria’s central bank has launched a domestic card scheme to rival foreign cards like Mastercard and Visa, hoping to enhance its drive to make Africa’s biggest economy a cashless society and save the country foreign transaction fees…. Read more>>
Global tech billionaires eye Zambia’s electric vehicle battry mines
Mail & Guardian
Market optimism is spurring a rush of investments into Zambia’s agriculture and mining sectors, giving the economy new growth impetus. Investors include Kobold, a consortium linked to tech titans Bill Gates, Jeff Bezos and Richard Branson, tipped to stir up Zambia’s foreign direct investment (FDI) scene with planned investments into its mining sector…. Read more>>
