Next week, some 40 African finance and trade ministers, along with a large contingent of senior U.S. government officials will descend upon the coastal city of Lomé, Togo for the annual African Growth and Opportunity Act (AGOA) Forum.
There will be more eyes on this year’s Forum. Aside from Secretary Ross’ brief address at the
Earlier this month Witney Schneidman appeared on CNBC Africa at the close of the G-20 meetings to discuss Germany’s plan for Africa. In this segment, Mr. Schneidman focuses on increasing foreign direct investment, and the related opportunities and challenges. The full clip can be found here.
Last week in a speech to the U.S.-Africa Business Summit sponsored by the Corporate Council on Africa, Secretary of Commerce Wilbur Ross signaled that there would be continuity in U.S. commercial policy to Africa.
Ross struck a positive tone and noted that President Trump described Africa as a “place of opportunity” at the May
Earlier this month, more than 1,000 leaders from business, government, and civil society participated in the World Economic Forum on Africa in Durban in early May with the theme, “Achieving Inclusive Growth through Responsive and Responsible Leadership.”
This note highlights several conversations relevant to the forum’s theme.
The Leadership Challenge
The challenge of responsible leadership
Covington will significantly expand its Project Development and Finance practice with the addition of Ben Donovan, Agnieszka Klich, Richard Keenan and David Miles, and the firm’s Middle East regional capabilities in corporate and dispute resolution matters with the addition of Jack Greenwald. With these additions, the firm will also open offices in Dubai and Johannesburg.
Despite the global focus on growth trends in Africa, one trend has flown mostly below the radar: the increase in the number and size of pension funds. In addition to evidencing increased income security, the continent’s growing number of pension funds could potentially be a new source of funding to address Africa’s infrastructure deficit, estimated
This past March was a busy month in Washington for Africa related events. Covington participated in a number of business focused summits and congressional hearings touched on U.S. – Africa public policy and its impact on the commercial relationship.
In early March, Covington’s Washington
Covington’s Africa initiative has unparalleled experience working with companies across a variety of sectors, helping them navigate the risks of Africa and achieve their business objectives on the continent. Over the past several months, we have continued to bolster our capabilities by adding to our team of lawyers and advisors:
Jonathan Berman: Mr. Berman, a
The contours of Trump’s Africa policy are emerging, although key appointments, such as the assistant secretary of state for African affairs, have yet to be made.
On February 13, President Trump had telephone conversations with President Muhammadu Buhari of Nigeria and President Jacob Zuma of South Africa—his first with leaders from sub-Saharan Africa. The calls,
Crowdfunding—or the use of online platforms to raise money for business ventures from a large base of investors—has been steadily gaining traction in Africa over the past decade. Still, crowdfunding in Africa remains limited compared to other regions: In 2015, the African crowdfunding market amounted to about $70 million, accounting for less than one