Corporate Council on Africa’s latest news updates for the continent

 

(Posted 10th November 2022)

 

 

CCA MEMBERS IN THE NEWS

Trinity Energy: Fueling African Energy Security Through Dynamic Solutions
Energy Capital Power
Since its establishment in 2021, indigenous South Sudanese company, Trinity Energy, has been committed to restoring supply stability in the domestic market while localizing the resources of South Sudan for both the local population and the regional economy… Read more>>

Zenith Bank partners Seedstarts to launch nationwide pitch competition for Nigerian startups
Tech Next
Leading Nigerian commercial bank Zenith Bank, in collaboration with Swiss-based global organization Seedstars, has officially launched the Zenith Bank Pitching Competition targeted at entrepreneurs in Nigeria with tech-enabled, scalable solutions designed to innovate businesses from different industries… Read more>>

 

U.S.-AFRICA RELATIONS

US to cut Burkina Faso from Africa trade program after counter-coup
Bloomberg
The US said it will end Burkina Faso’s access to a preferential trade program for African countries, citing concern about unconstitutional changes in the nation’s government. The Biden administration will remove Burkina Faso from the program under AGOA, which provides duty-free access to the US for thousands of goods from sub-Saharan nations, starting from Jan. 1, US Trade Representative Katherine Tai said in an emailed statement Wednesday… Read more>>

US lauds Kenya for role in truce between Ethiopia, Tigray rebels
The East African
The United States foreign relations office has expressed “appreciation” to President William Ruto for Kenya’s role in the truce inked by the Ethiopian government and Tigrayan forces on Thursday for a permanent cessation of hostilities…. Read more>>

US midterm elections: What’s at stake for Africa?
The Africa Report
US President Joe Biden’s party is widely predicted to lose control of Congress in the 8 November mid-term elections as Republicans look to seize control of the House of Representatives and perhaps the Senate. What effect will that have on US-Africa relations?… Read more>>

Kenya, US to strengthen trade and investment ties
The Star
Trade CS Moses Kuria and the US Trade representative Ambassador Katherine Tai on Thursday held talks on how to strengthen trade and investment ties. The talks aimed to iron out how Kenya and the United States will work together with the new government… Read more>>

AGRIBUSINESS

How deep-seated sexism is making food insecurity worse in Nigeria
The New Humanitarian
Last year, Nigerian farmer Odam Obat lost about two thirds of her cassava crop to devastating floods at her home in the Niger Delta – a densely populated but erosion-prone region on the coast of the Gulf of Guinea. To avoid such a loss again, she decided this year to dig drainage channels on the land, a cheap and effective solution she had seen farmers in neighbouring Cameroon employ…Read more>>

Kenya drought kills more than 200 elephants
Barrons
More than 200 elephants and hundreds of zebras and gnus have died in Kenya’s worst drought in four decades, the country’s tourism minister said on Friday. The crisis has affected nearly half of Kenya’s regions and at least four million out of its 50 million people. “The drought has caused mortality of wildlife, mostly herbivore species,” Tourism Minister Peninah Malonza told a press conference in Nairobi on Friday, adding that 14 species had been identified as badly hit…Read more>>

ENERGY

After six years, UN climate summit returns to Africa
AP News
The U.N. climate summit is back in Africa after six years and four consecutive Europe-based conferences.The 27th annual Conference of the Parties of the U.N. Framework Convention on Climate Change — better known as COP27 — will be held in the resort city of Sharm el-Sheikh in Egypt and begins next week. It’s been branded as the “African COP”, with officials and activists hoping the conference’s location will mean the continent’s interests are better represented in climate negotiations… Read more>>

Glaciers in Yosemite and Africa will disappear by 2050, U.N. warns
Washington Post
Glaciers in at least one-third of World Heritage sites possessing them, including Yosemite National Park, will disappear by mid-century even if emissions are curbed, the U.N. Educational, Scientific and Cultural Organization warned in a new report Thursday… “This report is a call to action,” UNESCO Director-General Audrey Azoulay said in a statement and linked the report to United Nations Climate Change Conference, known as COP27, which is set to begin in Egypt next week. “COP27 will have a crucial role to help find solutions to this issue.”… Read more>>

Climate change imperils Africa’s great migration
Business Day
Maasai elder Ngararika Noompunito beams as he recalls the awe he felt as a boy when herds of bellowing wildebeest passed close to his mud-and-thatch homestead near Kenya’s Maasai Mara National Reserve…. Read more>>

South Africa gets $497m from World Bank for clean energy sourcing
Aljazeera
South Africa, one of the world’s largest greenhouse-gas emitters, has been granted financing of $497m to decommission one of its largest coal-fired power plants and convert it to renewable energy, the World Bank said…. Read more>>

ACP-EU gives Uganda go-ahead to proceed with East African Crude Oil Pipeline project
AA
The African, Caribbean, Pacific – European Union (ACP-EU) Joint Parliamentary Assembly has overturned an earlier decision and voted to allow Uganda to proceed with developing the East African Crude Oil Pipeline (EACOP) project… Read more>>

HEALTH

As Ebola spreads in Kampala, WHO urges Uganda's neighbours to prepare
Barrons
The World Health Organization warned Wednesday that Ebola's arrival in the Ugandan capital highlighted the high risk of further spread of the deadly virus, calling on neighbouring countries to boost their preparedness.... Read more>>

Women's Health Initiative Launched for Africa; Focus on Advancing Women's Health
African Business
A continent-wide and dedicated women’s health initiative was launched today to advocate for and implement solutions to improve healthcare for women in Africa... Read more>>



INFRASTRUCTURE

Don't mortgage countries for loans, development banks tell Africa
The East African
Development finance institutions in Africa have cautioned governments against using countries’ natural resources to back infrastructure loans, as it amounts to mortgaging their future to creditors. Instead, they want states to explore public-private partnerships to finance their development projects... Read more>>

Zimbabwe is open for business, Mnangagwa tells Ivory Coast forum
Business Day
Zimbabwe is open for business and investing in the country is not as risky as many think, President Emmerson Mnangagwa said at the Africa Investment Forum (AIF) in Abidjan, Ivory Coast, on Thursday... Read more>>

African Development Bank secures $31 billion at investment forum
Reuters
The AfDB raised $31 billion in investment commitments for projects during the Africa Investment Forum, said the bank's president Akinwumi Adesina at the end of the three-day meeting on Friday. It brings the total investment for the year to about $64 billion, said Adesina... Read more>>

AfDB vows to derisk investment in Africa in lobbying drive
Business Day
The African Development Bank (AfDB) is lobbying global investors to seek investment opportunities in Africa with promises that it will “derisk” investments... Read more>>



ICT

Kenya has 5G now. But who can afford it? 
QZ
Last year, Safaricom, East Africa’s largest telecommunications firm, promised to launch 5G services by the end of 2022. The Nairobi-based company got there a month early, rolling out 5G in Kenya on Oct. 27, and aiming to connect 10,000 homes and businesses by March next year... Read more>>

AfricaCom 2022: Nonstop innovation to fuel Africa’s digital future
Venture Burn
After two years of virtual gatherings, the prestigious annual AfricaCom event – Africa’s largest technology conference – made its in-person return this year… Read more>>

Twitter layoffs in Accra could spell disaster for its operations in Africa
The Africa Report
As Twitter has self-imploded with mass redundancies and a new controversial policy, the company’s Africa operations seem to be in limbo… Read more>>

TOURISM

Emirates suspends Nigerian flights again over trapped ticket sales
Reuters
Dubai’s Emirates has suspended flights to Nigeria for the second time since September citing an inability to repatriate funds from Africa’s biggest economy, the airline said on Thursday… Read more>>

 

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