In a recent interview, Executive Director of the Nairobi-based United Nations Human Settlements Programme (UN-Habitat) Dr. Joan Clos stated that “urbanization will be a big opportunity for Africa in the coming years.” It comes as no surprise that harnessing the potential of Africa’s urbanization will be a top agenda item at Habitat III, the
Corporate and Investment
Diamond (Mines) Are Not Forever
In the last week of February, Zimbabwe’s President Robert Mugabe announced that all privately owned diamond mines would be nationalized and taken over by the newly created state-owned Zimbabwe Consolidated Diamond Co. The move affected six primarily Chinese companies. This decision is in keeping with the larger nationalization plan for mines that the President announced…
No Holidays for African Currencies
As the currency crisis plaguing Sub-Saharan Africa in 2015 continued through the recent holidays, Nigerians have learned that they can have their naira, but they can’t spend it too. Nigerians saw several restrictions on foreign exchange (“forex”) put in place, limiting what they could do with their naira. Triggered by the dive in oil prices…
AfDB President Launches “New Deal on Energy in Africa”
New African Development Bank President Akinwumi Adesina chose last week’s World Economic Forum at Davos for the official launch of the Bank’s New Deal on Energy for Africa, along with a Transformative Partnership for Energy in Africa (TPEA). While a candidate for the AfDB president position a year ago, Adesina placed energy at the top…
An End to the Never-Ending South African Poultry Dispute?
President Obama, on January 11, suspended the application of duty-free treatment to South Africa’s agricultural exports that come into the U.S. under the African Growth and Opportunity Act (AGOA). The suspension will take effect on March 15 if South Africa does not lower tariffs on American poultry products before then.
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Kenyan Government Disavows Controversial Local Ownership Requirement
The Kenyan government has suspended a controversial local ownership requirement in the new Companies Act 2015. The confusion regarding how the provision made its way into the law is unsettling for foreign companies that are interested in one of the region’s top investment destinations.
Regarded as an overdue modernization of Kenya’s company and insolvency laws,…
Zimbabwe (Re-)Opens to the West
Zimbabwe has begun to implement economic reforms that, if continued, could help the struggling nation improve the quality of life for the vast majority of its citizens. The nascent reform movement also suggests that government leaders have realized that reliance on China alone will not solve the country’s economic ills.
The efforts by Finance Minister,…
Four Ways To Improve Existing U.S. Resources for Doing Business in Africa
During the recent meeting of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA), Commerce Secretary Pritzker candidly admitted that the Obama Administration has been “grappling” with how to move forward on the proposed U.S.-Africa Infrastructure Center because the U.S. Commercial Service does not have the necessary resources and training to effect a…
The SDGs, Business, and the Development Challenge
The most intriguing characterization of the new Sustainable Developments Goals (SDGs), endorsed by world leaders at the United Nations General Assembly on September 25, came from Amina Mohammed, assistant secretary-general of the United Nations and special advisor on Post-2015 Development Planning. During a panel discussion at the African Leadership Forum on September 24, Ms. Mohammed…
From the AGOA Forum in Gabon to the WTO Ministerial in Nairobi
For years, many observers treated Africa’s plans for regional integration with a healthy dose of skepticism. Though the skepticism remains, what has changed is the wide-spread acknowledgement and elevated importance of regional economic integration to grow Africa’s economies, create jobs for its rapidly growing youth population, and improve lives. Last month’s AGOA Forum, hosted by…