A new, comprehensive report published by the African Union’s high-level panel on illicit financial flows and the United Nations economic commission for Africa (Uneca) concludes that Africa loses more than $50 billion every year to illicit financial flows (IFFs). The report, entitled Illicit Financial Flows, represents the first African initiative of its kind, and is … Continue Reading
Last week, London-based firm EnergyNet held its “Powering Africa Summit” in Washington. The Summit, opened by U.S. Secretary of Energy Moniz, attracted project developers, equipment suppliers, financiers, the U.S. Government’s Power Africa team, and African government officials. Unfortunately, due to the African Union Summit that was being held at the same time in Ethiopia, no … Continue Reading
Ghanaian officials announced this month that Ghana has achieved “zero hunger,” and are crediting this success to some of the policies of former Ghanaian president John Kufuor. The Zero Hunger Challenge — a UN initiative that is supported by various Non-Governmental Organizations and foundations — aims to eliminate hunger through investments in agriculture, rural development, … Continue Reading
According to the U.S. Agency for International Development, two out of three sub-Saharan Africans, approximately 600 million people, do not have access to electricity, instead relying on costly, environmentally unfriendly, and unhealthy forms of energy such as diesel generators and kerosene lamps and stoves. With many sub-Saharan African countries receiving a high number of days … Continue Reading
A little over a year after President Obama first announced Power Africa, the Administration has released the Power Africa Annual Report. According to the Annual Report, the initiative has “helped facilitate the financial close of transactions which expect to produce nearly 2,800 MW of new generation capacity — more than 25% of the 10,000 MW … Continue Reading
From June 14-15, African leaders, businesses and investors gathered for the Dakar Finance Summit for Africa’s Infrastructure–organized by the New Partnership for Africa’s Development (NEPAD)–to discuss the financing of major national and regional infrastructure projects. The Summit’s hallmark feature was the creation of the Dakar Agenda for Action (DAA), which acknowledges African states’ desire to … Continue Reading
Last week the U.S. House of Representatives passed the Electrify Africa Act of 2014, confirming the existence of a broad, bi-partisan consensus in favor of supporting U.S. direct investment in Africa’s energy sector. The bill, which now heads to the Senate, seeks to establish a “comprehensive United States Government policy to encourage the efforts of … Continue Reading
Throughout Africa, governments and private organizations are partnering to conserve Africa’s endangered wildlife. Wildlife conservation’s appeal stems not only from ideals of social responsibility, but also from diverse economic interests. These interests stimulate a variety of business partnerships, including public-private ones, in Africa’s wildlife conservation. The Economics of Conservation African nations are among the fastest-growing economies in … Continue Reading
Electrical and electronic waste (“e-waste”), which includes discarded technology equipment and parts, contains contaminants that are hazardous to human health and the environment. E-waste management is a growing concern for a number of African countries which, in addition to generating e-waste domestically, also receive millions of tons of (often illegally) exported foreign e-waste. In light … Continue Reading
On April 14, 2014, the U.S. Court of Appeals for the District of Columbia Circuit issued its long-awaited opinion in the challenge brought by industry groups to the SEC’s conflict minerals reporting rule under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The court agreed with the SEC that it had … Continue Reading
