Corporate Council on Africa’s latest news


(Posted 18th April 2024)



Record Participation Expected At 2024 US-Africa Business Summit- CCA CEO Florie Liser
Pan African Visions
The U.S.-Africa Business Summit serves as a one-stop shop for U.S. business and government leaders to meet representatives from more than 40 countries that are going to be there, and they can start having conversations about opportunities that are available to them, says Florie Liser, President and CEO of the Corporate Council on Africa -CCA. Building on the hugely successful 2023 Summit that took place in Botswana, the 2024 Summit in Dallas,Texas, running from May 6-9 2024 will bring together…. Read More>

Africa Is Ripe For US Business Interest and Investment 
International Business Times
Nearly 1,500 U.S. and African heads of state, government representatives, and private sector leaders are meeting in Dallas, Texas on May 6-9 at this year’s U.S.-Africa Business Summit. Hosted by the Corporate Council on Africa, the Summit focuses on elevating U.S.-Africa business relations and advocating to shape effective U.S.-Africa trade and investment policies. It will be the first time the Summit is being held in the United States since 2017, and the first one held outside Washington in the U.S. in 12 years. Dallas is an exceptional venue for the event. It is the most prosperous region in the country and home to many Fortune 500 corporations with global operations, while Texas has the largest African diaspora in the United States….Read More>>



SBM Bank (Mauritius) Ltd and TDB Group Sign an MOU to Collaborate on Business Development, Co-Financing and Capacity Building
TDB Group
The signing ceremony was held on Monday the 15th of April 2024 with TDB Group represented by Mr. Admassu Tadesse, Group President and Managing Director, and SBM Bank represented by Mr. Premchand Mungar, Chief Executive. The signing ceremony took place on the margins of a two-day Common Market for Eastern and Southern Africa (COMESA) awareness workshop held in Ebène, Mauritius, on the theme “Economic Integration for a Thriving COMESA Anchored on Green Investment, Value Addition and Tourism.” The MoU provides a framework for TDB Group and SBM Bank to collaborate on joint business opportunities and co-financing agreements with TDB Asset Management (TAM), and the implementation of joint capacity building programmes and initiatives with TDB Academy…..Read More>>

Gilead Sciences Join Forces With World Hepatitis Alliance and Experts to Award US$4 Million All4Liver Grant for Viral Hepatitis Elimination by 2030, Including Two Community-Led Initiatives in Hong Kong
Yahoo Finance
Gilead Sciences, Inc. (Nasdaq: GILD), announced a global distribution of US$4 million through its ALL4LIVER Grant (“Grant”) to support community-backed innovative projects associated with hepatitis C, hepatitis B, and hepatitis D in conjunction with the World Hepatitis Summit (“Summit”). An official announcement was made at a Gilead-hosted symposium titled “Partnering for Global Health Equity: Case Studies from Around the World,” held during the World Hepatitis Summit (“Summit”) in Lisbon from 9th to 11th April, 2024….Read More>>


United States Provides Nearly $154 Million for Humanitarian Assistance in Ethiopia
US Department of State
The United States, through the State Department’s Bureau of Population, Refugees, and Migration (PRM) and USAID, is providing nearly $154 million in additional assistance for the humanitarian response in Ethiopia to address urgent needs resulting from conflict, insecurity, and climate shocks. This includes more than $19 million from PRM for the United Nations High Commissioner for Refugees (UNHCR) and other humanitarian partners to support refugees and other displaced and vulnerable populations throughout Ethiopia. The additional funding brings the United States’ total humanitarian assistance in Ethiopia to nearly $243 million since the beginning of Fiscal Year 2024…..Read More>>Global Events Influence US AGOA Standing
Moves in US Congress to review South Africa’s participation in AGOA, the US Growth and Opportunities Act, have reportedly been dropped. South African citrus growers who ship their fruit to the US are breathing a sigh of relief after reports that senators have introduced a bill to extend AGOA, which is meant to boost trade between Africa and the US until 2041. Reports from the US have indicated that 30 African countries will keep duty-free exports to the US market for this period, including the Western Cape citrus growers, the only area in South Africa allowed to ship citrus to the US….Read More>>

Energas West Africa to Promote Local Service Opportunities at Invest in African Energy (IAE) 2024
Energas West Africa CEO David Pappoe Jr. will speak at the Invest in African Energy (IAE) forum in Paris next month, spotlighting opportunities for local service companies within Africa’s growth markets.The engineering and energy services firm provides turnkey engineering and consulting solutions for project developers across the entire oil and gas value chain. In addition to his role at Energas West Africa, Pappoe Jr. serves as the African Energy Chamber’s President for Ghana and Country Representative in Ghana for Egyptian Oil Services Company’s Petrographics….Read More>>

Quarterly Energy Market Update
CDH Incorporated
The Electricity Regulation Amendment Bill [B23-2023] (ERA Bill), which seeks to overhaul the South African electricity market, was passed by the National Assembly on 14 March 2024 following public hearings and parliamentary deliberations that commenced in early December 2023. The ERA Bill has been transmitted to the National Council of Provinces (NCOP) for concurrence. The NCOP Select Committee on Land Reform, Environment, Mineral Resources and Energy has since released the ERA Bill for a further round of public consultation, with comments due by 29 April 2024….Read More>>

Moderna Halts Plans To Build Kenya Vaccine Plant as Covid Shot Demand Plunges
Moderna on Thursday said it has paused plans to build a vaccine-manufacturing site in Kenya after a steep drop in demand for its Covid vaccines. The biotech company said it has not received any vaccine orders for Africa since 2022 and has taken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent. Moderna’s decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint. The company’s business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus…. Read More>>

White & Case advises IFC-led lender group on US$1.25 billion financing for Indorama Eleme Fertilizer and Chemicals Limited
White & Case
Global law firm White & Case LLP has advised a group of lenders led by the International Finance Corporation (IFC) on a US$1.25 billion financing package to Indorama Eleme Fertilizer and Chemicals Limited (Indorama) in Nigeria. “This is a transformational deal for the sponsor and reflects the longstanding commitment and relationship between Indorama and the DFIs which have supported it from the first financing in 2013,” said White & Case partner Deji Adegoke, who co-led the Firm’s deal team… Read More>>

Impact Manager Acre Raises $100 mln for African Climate Infrastructure
Two former BNP Paribas bankers have raised almost $100 million for a new fund which aims to unlock billions of dollars of funding for climate-aligned infrastructure projects in Africa. Acre Impact Capital, a private-debt impact investment manager, is looking to address the estimated $100 billion annual infrastructure financing gap on the continent by providing a portion of the unsecured funding for export finance projects….Read More>>

Kenya: Tea Worth Ksh2b Unsold As KTDA Reinstates Minimum Price On Older Stocks
Kenyan tea worth Ksh2.3 billion was withdrawn from the market in the latest sale as the Kenya Tea Development Agency (KTDA) instructed brokers to sell the beverage at the reserved price, resulting in traders rejecting millions of kilos of the commodity offered for sale. Buyers turned down at least 9.8 million kilogrammes of tea offered for trading at the auction by KTDA in sale 15, citing a mismatch between price and quality. The amount of tea withdrawn represented 52 percent of the total commodity offered at the Mombasa Tea Auction floor for sale…Read More>>

African Development Bank Conducts Agribusiness Meeting In Nairobi
New Business Ethiopia
The African Development Bank concluded a three-day workshop in Nairobi, Kenya, aimed at enhancing its Empowering Novel Agri-Business-Led Employment (ENABLE) Youth Program in preparation for its next phase. The ENABLE Youth program helps young African men and women access financing to grow their enterprises. Currently active in 15 countries with investments exceeding $490 million, and benefiting around 40,000 youths, the program has emerged as a transformative force in fostering entrepreneurship and tackling youth unemployment…Read More>> 

It’s all systems go for Connected Africa Summit, 2024
The Star
ICT and Digital Economy CS Eliud Owalo has confirmed that all necessary arrangements have been finalised ahead of the Connected Africa Summit 2024. The continental ICT event will take place from April 22-25, at Uhuru Gardens in Nairobi. Speaking Monday at the National Monument and Museum where he inspected the grounds, CS Owalo said they are committed to ensuring the summit delivers its goal in advancing Africa as the next digital frontier… Read More>>

Africa: Development Finance – How It Works, Where It Goes, Why It’s Needed
Development finance is the invisible glue that connects public and private financing for projects that have social, economic and environmental outcomes. These include improved infrastructure, better waste management and sanitation, financial inclusion, clean energy and sustainable agriculture.The goal of development finance is to create positive social, economic or environmental outcomes through investments made by financial institutions such as banks, insurance companies and pension funds in addition to contributions made by development finance institutions, multilateral partners and NGOs… Read More>>


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