Video guest: Josephine Mwangi

May 2017
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EDITO
Thursday, 25 May 2017

Trade reciprocity between the African, Caribbean and Pacific countries and the European Union is crucial to establishing a mutually beneficial trade arrangement between the two trade blocs. Further, trade discussions should also include good governance to block the outflow of millions of dollars from Africa in illicit trade, parliamentarians noted during the African, Caribbean and Pacific Group of States – European Union Joint Parliamentary Assembly (ACP-EU-JPA) that ended in Windhoek lat week. The ACP-EU JPA discussed issues of migration between ACP countries and EU member states, improvement of participatory governance through decentralisation and continental area of free trade in Africa.

A 20-member trade delegation from Ghana concluded a week-long visit on Friday to the Netherlands to explore opportunities for business and cooperation in food & beverage processing and agricultural inputs. The mission was led by the Association of Ghana Industries (AGI) and Ghana Chamber of Commerce & Industry (GCCI), supplemented by members of GhanaVeg. GhanaVeg is a programme funded by the Netherlands Embassy with the aim of establishing a sustainable and internationally competitive vegetable sector in Ghana that contributes to inclusive economic growth.

African Century Leasing is confident of securing about $20 million worth of lines of credit this year aimed at supporting productive sectors of the economy. The leasing company has already secured credit lines from two reputable financial institutions, Botswana based Norsad Finance Limited and Belgium based Incofin Investment Management.ACL managing director Mr Stanley Matiza yesterday said the leasing firm is confident of securing all the negotiated lines of credit by the end of this year. “The leasing firm’s ultimate goal for 2016 is to secure $20 million worth of lines of credit and we are hopeful of securing all lines that were negotiated,” said Mr Matiza.

Thursday, 30 June 2016

Britain voted to unanimously leave the European Union. Many people around the globe have criticized the move. Some have even predicted doom for the future of the economy of Britain. The world now seems to be in limbo about the current position of Britain. Some economists feel that Britain’s decision was a selfish one aimed at cutting off some countries from benefitting from her.

Britain joined the EU in 1973 and it brought along its former colonies to position them for aid under an agreement that was already benefiting former French colonies. This arrangement came to be known as African, Caribbean and Pacific States (ACP), which allowed African aid and trade to be negotiated. Before Africa joined the ACP in 1975, its exports to the EU were 6% of all EU imports. But fast-forward to the end of 2000, by which time Africa’s exports to the EU had shrunk to 1%, and one may conclude that the EU subdued Africa’s capacity to export under ACP. Whereas the EU was awarding large sums of aid to Africa, it was at the same time enforcing punishing and prohibitive trade practices, which put the brakes on Africa’s growth and innovation potential.