February 10, 2022
With the recruitment of a veteran former in-house lawyer, Asafo & Co is anticipating a securitisation boom in West and North Africa. With more than two decades of in-house experience at a securitisation brokerage, Nicolas Noblanc has joined Asafo & Co in Paris as senior counsel, to advise on areas including structured finance, capital markets, and financial regulation.
The Economic Commission for Africa, in collaboration with Google Africa and Africa 24, held the fifth Africa Business Forum on the margins of the thirty-fifth ordinary session of the African Union Assembly of Heads of State and Government. Delegates from the public and private sectors met in person and virtually to discuss how best to and meet the growing demand unleashed by the African Continental Free Trade Agreement.
The Kenyan government has begun the documentation processes for the dualling of the 40km project Mtwapa-Kilifi Road. The project is part of the 460km Malindi-Tanga-Bagamoyo East African corridor development project, a transnational highway between Kenya and Tanzania. It is estimated that the project will cost U.S.$17.8 million and its primary source of funds is the African Development Bank, which approved just over U.S.$16 million in financing for the project in 2020. The European Union is also contributing a grant of U.S.$1.2 million.
Wider access to energy will be provided to businesses and communities in Ghana, with joint support from the African Development Bank and Swiss government. A project to develop renewable mini-grid energy in Ghana will receive USD 27.39 million in support from the African Development Bank (AfDB). The bank’s board approved the grant to develop 35 mini grids, as well as 700 standalone units for schools, health centers and community service centers in the Volta Lake region.
As the 6th EU-Africa Summit approaches, few are questioning the need for a fundamental reset of relations – in particular after the turbulent events of the past few years. But what precisely does that entail? The path ahead is by no means clear, when long-standing challenges in Africa such as food security and migration are compounded by immediate global concerns of health and climate change.
International credit ratings agency Moody’s bought a majority stake in African counterpart Global Credit Rating Company (GCR). Originally established in 1996 by professional services firm Duff & Phelps, Mauritius-headquartered GCR has subsidiaries in Nigeria, South Africa, Kenya, Senegal and Zimbabwe, and provides ratings coverage across the continent.
EVENTS – 2.10.2022
“AIIL and AfAA’s Advanced Introduction Workshop on International Investment Law and Dispute Resolution.” African Institute of International Law. Online. 3 March 2022.
“Africa CEO Forum.” Invest Africa. Abidjan, Côte d’Ivoire. 13-14 June 2022.