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EDITO
Tuesday, 17 October 2017

A delegation of business executives from the Gauteng Province in South Africa has met with their Ghanaian counterparts to explore investment opportunities in the country. Led by the Premier of the Gauteng Provincial Government, Mr David Makura, the delegation focused on areas of interest, including road infrastructure development, agriculture and agro-processing, energy, rail and ports infrastructure and manufacturing.Subsequently, a business forum was organised by the Ghana Investment Promotion Centre (GIPC) to give Ghanaian businesses the opportunity to interact with the delegation as part of efforts to drive trade within Africa. The forum was on the theme, “Investment and business partnerships: The vehicle for intra-Africa integration and impactful economic development.”

Victus Global Capital and Altree Capital have partnered to launch a US$50mn fund focusing on investment into women-led agribusinesses in Africa. The fund aims to boost African agriculture through the practise of so-called ‘gender lens investing’, which focuses on funding women-owned businesses, companies with a track-record of hiring women, and those that aim to improve the lives of women through their products and services. It is initiated by Bo Masole and Zee de Gersigny – the founders of Victus Global Capital, an investment firm focused on transforming agriculture and empowering women in Africa – and Jenni Chamberlain, CEO of African asset management specialist Altree Capital.

The European Union has signed two Financing Agreements for a total amount of 68 million Euros to finance implementation of two programmes in the COMESA region. These are; Trade Facilitation programme (53 million Euros) and Small Scale Cross-Border Trade programme (15 million Euros). The Ambassador of the European Union to Zambia and Representative to COMESA, H.E. Alessandro Mariani, and COMESA Secretary General, Sindiso Ngwenya, signed the two agreements.The funds are part of the COMESA specific envelope of 85 million euros provided by the European Union under the 11th European Development Fund (EDF) Regional Indicative Programme for the East African, Southern African and Indian Ocean (EA-SA-IO) region signed in June 2015 for the period 2014 – 2020.

Israeli Prime Minister Benjamin Netanyahu has announced the creation of two trading hubs in West and East Africa to increase trade between his country and the continent. They form part of the partnerships he offered at the 51st ECOWAS Summit of Heads of State in Liberia’s capital Monrovia on Sunday. “I believe in strengthening our relations which is one of our top priorities, national and international priorities of the state of Israel … Israel is opening two new trade missions – one in West Africa, one in East Africa – to significantly increase trade between our countries,” he told the West African leaders.

The East African Legislative Assembly (EALA) has passed a $110.1m (Shs396b) budget for the financial year 2017/18, an 8 per cent increase from $101.3m (Shs364b) for the year ending in June. The new budget seeks to prioritise the development and promotion of nine sectors, including regional infrastructure, trade and investment. Presenting the budget to the Assembly in Arusha, Tanzania, last week, Uganda's Ali Kirunda Kivejinja, the chairperson of the Council of Ministers of EAC, said: "The new budget seeks to consolidate the Single Customs Territory (SCT) to cover all imports and intra-EAC traded goods including agricultural and other widely consumed products."