Video guest: Josephine Mwangi

October 2017
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Friday, 20 October 2017

G20 leaders in Hamburg will on Saturday hail their “Africa Compact” as a bold new initiative to boost investment and end poverty on the continent. Germany has billed the “trade, not aid” deal it developed during its G20 presidency as a quantum leap, supplementing traditional development aid with a new public-private partnerships to create jobs and improve infrastructure. For Europe it comes at a crucial time, Berlin says: throttling the flow of migrants to Europe. “We in Germany have a fundamental interest of good economic development in Africa and that’s why we are discussing a Marshall plan for Africa,” said Chancellor Angela Merkel, in a nod to the American plan that rebuilt postwar Europe.

Standard Chartered Bank and the Land and Agricultural Development Bank of South Africa (Land Bank) has signed a $300m Term loan facility, backed by a guarantee from the Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group. Agriculture, Karoo The deal secures long-term USD funding for Land Bank at very competitive terms achieving reduced overall cost of borrowing and diversification of financing sources. The facility has a door-to-door tenure of 10 years and will help increase long-term liquidity for the benefit of the agricultural sector in South Africa.

At a bare floored restaurant on the edge of the Dja Faunal Reserve in Cameroon, I asked the owner what there was to eat. She gestured to a poster on the wall. It was an illustrated guide of 44 animal species under threat from poaching and over-hunting, but for the restaurant it served as a menu. Each animal she pointed to was available to order. The Dja, and other forests in Central Africa's Congo Basin, are a breadbasket for millions of people living in the region. At nearly 2 million square kilometres, the area of tropical forest in the Congo Basin is the second largest in the world after the Amazon. Besides supplying bushmeat, these forests provide building materials, medicine, wild fruits, vegetables and spices.

The value of the EU's vegetable imports from third countries grew by 10%, totalling 1,312 million Euro in the first four months of 2017 compared to the same period last year, while fruit imports recorded a 9% growth, reaching €4,630 million, according to the latest data updated by the European Bureau of Statistics, Eurostat, processed by FEPEX.The main non-EU suppliers of vegetables in the EU in the period under review are still Morocco, Turkey and Egypt, with strong growth in all three cases. Imports of vegetables from Morocco up to April amounted to € 551.8 million, compared to € 470.6 million in the first four months of 2016, which is a 17% growth.

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