NEWS: 6.17.2021

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June 17, 2021

ECA Commends Ethiopia's Strides in Digitizing Logistics Sector

“Digitalization of logistics will be critical to match the demand and supply of transport services, thereby reducing the time and cost of delivering goods,” said Robert Lisinge, Chief of the Energy, Infrastructure and Services Section at the Economic Commission for Africa (ECA). He spoke on June 15, 2021 during a meeting with representatives of Ethiopia’s ministry of transport and other stakeholders to review and validate a study on the gaps that exist in the digitization of Ethiopia’s logistics sector.

Malawi Stands to Benefit from Trade Opportunities Offered by the AfCFTA in the Post-COVID-19 Era

Malawi will have access to immense opportunities in the post-COVID-19 environment despite the accompanying challenges the period will pose, says Stephen Karingi, Director of the Regional Integration and Trade Division of the Economic Commission for Africa (ECA). Speaking at the end of a series of workshops to review and validate Malawi’s African Continental Free Trade Area (AfCFTA) implementation strategy, Mr. Karingi said Malawi should be ready to exploit these opportunities in the wake of the severe impact the pandemic has had on the continent.

Officials Validate ECA-Proposed Framework for Industrialization and Economic Diversification in Central Africa

A new comprehensive, segmented and dynamic framework to inform the formulation of sub-regional and national industrialization and economic diversification has taken root in Central Africa, with the aim of turning the zone into a poly-hub for green growth and net-zero industrialization in multiple sectors such as agro-industry, battery-electric vehicles-renewable-energy, NPK fertilizers, petrochemicals, iron and steel, and livestock-leather.

Nigeria Eyes $70 Million Profit from Crude Oil Supply to Indonesia

The Nigerian National Petroleum Corporation (NNPC) has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corporation, Pertamina and Indian Oil Corporation. The development, which will strengthen the nation’s revenue outlook, is coming at a time when the oil industry is challenged by volatility and uncertainty.

DRC Engages Linklaters on UK-Backed Solar Initiative

The Democratic Republic of Congo (DRC)’s Ministry of Hydraulic Resources and Electricity has been advised by Linklaters on the Essor Access to Electricity (A2E) Initiative, an initiative launched in 2019 and funded by the United Kingdom government, for the development of solar mini-grids. Essor is a distributed renewable energy project, operating independently of the national grid.

ASAFO & CO Bags HFW London Duo

The European law firm with a strong Africa focus has hired a pair of London project finance partners from HFW. This follows the hire of Paris public law and infrastructure projects lawyer Cendrine Delivre in March, and ASAFO & CO’s expansion into the United States in April. Andrew Thomas and Winston Bell-Gam both made the lateral move to ASAFO from HFW, where Thomas also headed up the project finance practice. Their arrival will be crucial for accelerating ASAFO’s involvement in English law-related project finance matters in Africa.

UAE-Africa Relations Prosper

An agreement has been reached between an African bank and an Abu Dhabi financial institution, in a bid to increase African purchasers’ access to funding for imports from the United Arab Emirates and support UAE exporters’ growth in Africa. The Eastern and Southern African Trade and Development Bank (TDB) and Abu Dhabi Exports Office (ADEX), Abu Dhabi Fund for Development (ADFD)’s business dedicated to export financing, have signed a line of credit agreement for $30 million.

Kenya’s Economy Joined at the Hip with China

A report intended to appeal to international investors to buy Kenya's latest Eurobond, shows that Nairobi must swallow all the International Monetary Fund (IMF) prescriptions to stay afloat economically. The Treasury is seeking the new funding to support its annual budget and repay other maturing loans. Nairobi says the huge debts Kenya owes to China is at the top of the list of risks Kenya faces.

EVENTS – 6.17.2021

“Ninth Conference on Climate Change and Development in Africa.” Sal Island, Cabo Verde. ECA. 23-27 August 2021.

“DRC Business Forum.” Kinshasa AND Online. ECA. 29-30 July 2021.