Corporate Council on Africa’s latest news updates

 

 

(Posted 22nd December 2022)

 

CCA IN THE NEWS

‘US Companies should be looking at Africa for sourcing and manufacturing’
African Business
The president and CEO of the Washington-based Corporate Council on Africa talks to African Business ahead of the US-Africa Leaders Summit in December…Read more>>

Botswana Will Host Corporate Council on Africa 2023 U.S.-Africa Business Summit
The Guardian
Corporate Council on Africa is pleased to announce that in June 2023, the Government of the Republic of Botswana will be the national host of Corporate Council on Africa’s 15th U.S.-Africa Business Summit (USABS),,,Read more>>

Raising the Profile of AfCFTA at the Africa Leaders Summit
CSIS
The December 13–15 Africa Leaders Summit offers a great opportunity to reinvigorate U.S.-African economic relations, laying the groundwork to make them more strategically relevant for both sides. Sessions across the summit will review developments that are taking place in key sectors with the potential to fundamentally change the trajectory of Africa’s economic development…. Read more>>

CCA MEMBERS IN THE NEWS
Trimble Agrees to Acquire Transporeon for $2 Billion
Transport Topics
Trimble announced it has agreed to acquire Transporeon, a cloud-based transportation management software platform focused on connected supply chain infrastructure, in an all-cash transaction valued at $2 billion… Read more>>

Chevron discovers ‘3.5 Tcf’ of gas offshore Egypt
Upstream
Chevron has made major gas discovery offshore Egypt, according to the country’s petroleum minister…Read more>>

 

U.S.-AFRICA RELATIONS
Day 2: U.S.-Africa Business Forum
U.S. Department of State
The fresh effort is aimed to “demonstrate the United States’ enduring commitment to Africa and emphasize the significance of building new relations between both sides. The White House reported the summit “will build on our shared values to better foster new economic engagement; reinforce the U.S.-Africa commitment to democracy and human rights; mitigate the impact of COVID-19 and of future pandemics; work collaboratively to strengthen regional and global health; promote food security; advance peace and security; respond to the climate crisis; and amplify diaspora ties.”… Read more>>

US, Africa Firms Seal $15 Billion of Deals at Washington Summit
Bloomberg
American and African firms reached more than $15 billion in new commitments and deals at a summit hosted by President Joe Biden as the US moves to increase its commercial ties with the continent through investments rather than aid… Read more>>

President Biden and Vice President Harris at the U.S.-Africa Leaders Summit
U.S. Department of State
President Biden invited leaders from across the African continent to Washington, DC on December 13-15, 2022 for the U.S.-Africa Leaders Summit. Here’s an overview of the President and Vice President’s activities during the summit… Read more>>

US Commits $55 Bn to Africa Over Next Three Years: W. House
Barrons
The White House said Monday ahead of the US-Africa Leaders summit that it was pledging $55 billion in economic, health and security support for Africa over the next three years… Read more>>

AGRIBUSINESS

Africa: Are colonial food systems to blame for leaving people vulnerable?
The Africa Report 
Over the past 60 years, global decision-makers, big philanthropy, business interests and large swaths of the scientific community have focused on increased food production, trade, and energy-intensive farming methods as the best way to address global and African hunger…. Read more>>

Kenyan farmers support lifting of ban on GMOs
Nation
Kenyan farmers that have planted Genetically Modified crops for two years now have said that their yields and proceeds have improved, and they have asked Kenyans to embrace GM maize….Read more>>

Kenya: Food security initiative dealt blow as Ruto looks to boost tobacco exports 
The African Report 
A bilateral trade talk between South Korea and Kenya to increase the East African country’s tobacco exports in the coming months has raised doubts over Kenya’s Tobacco-Free Farming project and the authorities’ efforts to achieve food security….Read more>>

ENERGY

IMF approves Rwanda as first African beneficiary of new climate fund
The Africa Report
On 12 December, the IMF approved Rwanda as the first African country to benefit from a new instrument to help poor countries tackle long-term structural challenges such as climate change… Read more>>

‘Means of survival’: Tanzania’s booming charcoal trade drives unchecked deforestation
The Guardian
As rising gas prices drive demand for the polluting fuel, illegal loggers depend on the trade to live – even as the forest disappears around them… Read more>>

HEALTH

South Africa’s Aspen gets $30 mln grant to make vaccines 
Reuters
Aspen Pharmacare has wrapped up pacts to secure funding of $30 million from the Gates Foundation and the Coalition for Epidemic Preparedness Innovations to help make affordable vaccines for Africa, the company said on Monday…. Read more>>

INFRASTRUCTURE

IMF Agrees $3 Billion Bailout for Ghana to Stablize Economy, Manage Debt
Bloomberg
Ghana secured a staff-level agreement with the International Monetary Fund for a $3 billion bailout, a key step in the West African nation’s plans to restructure its unsustainable debt… Read more>>

ICT

Visa to Invest $1 Billion in Africa After Opening New Offices
Bloomberg
Visa Inc. will invest $1 billion in its business across Africa as the technology giant seeks to push adoption of digital payments across the continent…. Read more>>

Meta wants to bring the metaverse to Africans through their cell phones
Quartz
Meta sees a huge metaverse business potential in Africa – $40 billion added to the continent’s GDP by 2031. This ambitious goal has one major caveat, “only if the metaverse were to be adopted and grow in a similar way as mobile technology.”… Read more>>

TOURISM

Nigeria scraps COVID-19 tests for international travellers
Reuters
Nigeria on Monday removed COVID-19 testing requirements for international travelers and it was no longer mandatory to wear masks on flights and inside airport buildings, the airlines regulators said… Read more>>

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