Video guest: Josephine Mwangi

August 2018
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EDITO
Tuesday, 14 August 2018

The absolute hero of Guinea-Bissau and Cape Verde and a leading historical Pan-African figure, Amílcar Cabral, was named by his father after the Carthaginian General Hamilcar Barca, the one that in 241 B.C. conquered Sicily before occupying most of Iberia. He was born in what is a today’s Libya and was one of the most-admired leaders of that state that sat in what is today’s Tunisia.

The Federal Republic of Germany and Cameroon on Tuesday signed two intergovernmental cooperation agreements in the capital of Cameroon, worth a total of €13.6 million (about 8.84 billion CFA francs), aimed to modernise the civil registry and support decentralisation.

On 21 June, Bakary Sylla – Chief of Staff at the Ministry of the Economy and Finance – representing the Minister, actively took part in the Paris Forum. A total of 46 lending and borrowing countries, as well as nine international financial institutions and international organisations met in Paris at the French Finance Ministry to discuss new trends in the sovereign debt landscape, in particular the high debt levels of certain developing countries, in a context marked by growing vulnerabilities linked to the rise and make-up of debt in these countries.

Friday, 13 July 2018

The European Union has released €89.5 million in humanitarian assistance to Somalia and Djibouti, as millions are grappling with the consequences of prolonged extreme weather conditions. The funding comes ahead of the Somalia Partnership Forum co-hosted by the European Union taking place next week over 16-17 July.

The EU’s much vaunted private investment vehicle in Africa has moved a step closer to becoming reality after €800 million was unlocked to leverage multi-billion euro investments on the continent. At a meeting on July 10, the board of the European Fund for Sustainable Development gave its green light to a package of financial guarantee programmes worth around €800 million as part the bloc’s External Investment Plan (EIP).

As part of its External Investment Plan, the EU gave its green light to a package of financial guarantee programmes worth around €800 million on 10 July. This will help to leverage an estimated €8-9 billion in public and private investment in Africa and the Neighbourhood. Yesterday's decision is a major milestone towards delivering investments in Africa and the Neighbourhood through the EU's External Investment Plan (EIP), which is expected to leverage €44 billion of investments through an EU contribution worth €4.1 billion.

Ms Isabelle Grunderbeeck, the Regional Representative for West Africa of European Investment Bank (EIB), says the bank plans to invest 700 million euros in some identified projects in Nigeria. Grunderbeeck disclosed this at the bank’s interactive meeting with its clients and other stakeholders in Abuja on Tuesday. She said that the planned investment was in addition to the fund already committed to the Nigerian economy.

Next week will be a crucial time for the French Development Agency (AFD) as it will be signing a three-year grant worth R14.5-million (€950 000). This will be its first investment in digital innovation in South Africa. The money will go into funding Digital Content Hub of Tshimologong Digital Innovation Precincts. Based in Braamfontein, Digital Content Hub will be launched on 9th July 2018.

On 11 July 2018, EU ambassadors agreed the Council's position on the 2019 EU draft budget in advance of negotiations with the European Parliament. In total, the Council foresees €164.1 billion in commitments and €148.2 billion in payments for next year’s budget. Compared to 2018, this is a +2.09% increase in commitments and +2.34% increase in payments. Hartwig Löger, Austrian Federal Minister for Finance declared ''The Council has continued to pursue a balanced approach to the annual budgetary process.

Thursday, 12 July 2018

Political relations The EU, together with Somali authorities and international key partners, is engaged in Somalia through an integrated approach based on active diplomacy, support for political change, improving security, development assistance and humanitarian aid. For the period 2015-2020, the cooperation of the EU and the Member States amounts to more than €3.5 billion, and includes development aid, humanitarian aid and peacekeeping operations.