NEWS: 06.28.2023


28 June, 2023

SADC and World Bank sign the Financing Agreement Regional Statistics Project

According to The Southern African Development Community, the World Bank Group, through the International Development Association (IDA), and the Secretariat of the Southern African Development Community (SADC), signed the SADC Regional Statistics Project Financing Agreement in Gaborone, Botswana. The agreement aims to strengthen the capacity of SADC member states and the Secretariat in producing and utilizing quality statistics while promoting regional harmonization. The parties expressed their commitment to continuing collaboration and exploring new areas of cooperation in various sectors, such as energy, agriculture, climate change, and industrialization.

China to strengthen cooperation with EAC in capacity building and trade

The East African Community shares that the People's Republic of China has pledged to strengthen cooperation with the East African Community (EAC) in various areas, including capacity building, trade, and infrastructure development. The Chinese Ambassador to Tanzania and the EAC, H.E. Chen Mingjian, expressed China's optimism in promoting economic growth in the EAC and Africa as a whole. China donated eight vehicles, including buses and pick-up trucks, worth US$400,000 to the EAC to enhance its capacity in organizing meetings and events across the region, demonstrating the deepening relations between China and the EAC.

Launch of DACORE by WAPIS and Interpol in Monrovia, Liberia

ECOWAS Commission reports the data collection and registration center (DACORE) was inaugurated in Monrovia, Liberia by the West Africa Police Information System (WAPIS) and the global police network Interpol. The center aims to address the challenges of violence extremism and insecurity in West Africa by providing a centralized system for tracking security-related threats in the region. Various stakeholders, including the Economic Community of West African States (ECOWAS), praised the initiative as essential for maintaining peace and stability in the face of growing security concerns in the region.

ECOWAS Free Movement Protocol: Training ECOWAS Nationals in Guinea on Free Movement of Persons and Goods

ECOWAS Commission shares that ECOWAS organized a training session in Guinea on the ECOWAS Protocol for Free Movement of Persons and Goods, aimed at raising awareness and understanding of the community text. The training brought together representatives from various ECOWAS member nations in Guinea. The event featured presentations on ECOWAS Vision 2050 and the protocol itself, followed by discussions and participants receiving certificates of participation.

Indian Prime Minister Narendra Modi visits Egypt to strengthen ties

According to AfricaNews, Indian Prime Minister Narendra Modi began a two-day visit to Egypt, highlighting the strengthening ties between the two countries. Discussions were held with Egyptian Prime Minister Mostafa Madbouly on enhancing the Egyptian-Indian relationship, with the attendance of senior government officials from both sides. The visit aims to solidify bilateral cooperation, as demonstrated by the signing of memorandums, and builds upon previous agreements to increase trade and expand collaboration in various sectors, including cyber security and culture.

William Ruto aims for Kenya to "be part of the solution" and not "asking for help"

According to AfricaNews, Kenyan President William Ruto attended the Paris climate summit with the goal of reforming the global financial architecture to enable developing countries to contribute to climate solutions. Ruto criticized the unfairness of the current financial system, highlighting the high interest rates imposed on developing countries. He advocated for the reform of international institutions like the IMF and World Bank, the rethinking of debt management, and the creation of new fair taxes to address climate change and redirect resources towards development. Ruto emphasized the need for global cooperation and urged the international community to prioritize climate action over other issues.

Gains Made in African Cannabis Trade, but Small Producers Suffer

AllAfrica reports that the South African government is developing a policy to unlock the potential of the hemp and cannabis sector, aiming to harness its benefits in traditional medicine, pharmaceuticals, industrial applications, and more. Several African countries have shifted from prosecuting cannabis-related offenses to promoting legal cannabis production for medical and scientific purposes. However, there are concerns that current regulations favor corporate businesses over smallholder farmers, with limited scope, high license fees, and business costs hindering the participation of small-scale producers in the legal cannabis sector.

Nigeria and South Africa collaborate on PPP Implementation

According to Abuja Collins Olayinka from The Guardian, the South African government has sought collaboration with Nigeria on infrastructure development through public-private partnerships (PPPs). The South African High Commissioner to Nigeria expressed interest in supporting Nigeria's infrastructure projects through financing and technical assistance. The Director General of Nigeria's Infrastructure Concession Regulatory Commission welcomed the collaboration and highlighted the success of PPPs in Nigeria, with numerous ongoing projects and the establishment of a PPP Training Institute.

Nigeria and developing countries at risk from deglobalization

Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has emphasized the importance of "re-globalization" and trade reforms, warning that deglobalization poses significant risks to developing countries. She called for urgent reform of the current multilateralism and highlighted the need to update the WTO's rulebook to address digital trade and promote inclusivity. Okonjo-Iweala urged business leaders to advocate for multilateral cooperation on trade to ensure global prosperity and resist the pressures of global economic fragmentation.

Prime Minister Ngirente receives South Korea President’s special envoy

Aurore Teta Ufitiwabo from The New Times writes that Rwanda's Prime Minister, Edouard Ngirente, met with the special envoy of the President of South Korea, Sung Min Jang, who delivered a message from President Yoon Suk Yeol to President Paul Kagame. The discussions centered on strengthening the partnership between the two countries, with a focus on enhancing economic cooperation. Both sides expressed interest in deepening collaboration in sectors such as education, ICT, agriculture, and manufacturing, including the production of batteries for electric cars and the importation of electric vehicles to mitigate emissions.

African Leaders call for affordable financing to recover economies

According to The United Nations Economic Commission for Africa, leaders from developing countries gathered in Paris to advocate for reforming the global financial architecture to address economic, environmental, and social challenges and advance the Sustainable Development Goals (SDGs). The Sustainable Debt Coalition, launched by Egypt, aims to address financing challenges faced by emerging markets and developing economies, with a focus on climate action and development. Discussions at the summit highlighted the need for predictable and sustainable financing, reducing debt costs, integrating climate contingency clauses in debt contracts, and exploring debt swaps to free up fiscal space for SDG investments. The coalition seeks to foster collaboration between creditor and borrower nations and amplify the African voice on global platforms.

Events- 06.28.2023

"Climate Change and the Effect on Agriculture." Invest Africa. Cape Town, South Africa. 26 July 2023.