tralac’s Daily News Selection
Updates from the 5th AU-EU Summit in Abidjan, Côte d’Ivoire:
UN Secretary-General António Guterres: remarks at the Opening of the 5th African Union-European Union Summit
Antonio Tajani, European Parliament President: address at the African Union-European Union Summit
The European Investment Bank (EIB) has formally agreed financing to support more than EUR 230 million of private sector investment across Africa. The new initiatives, backed by the European Union’s long-term lending institution, will enhance access to credit by African smallholders and microenterprises, increase investment in health and education targeting low-income families across West Africa, foster growth of African digital and technology, start-up companies and promote financial inclusion of rural communities in Ethiopia. [EU Bank grants its first loan to African Export Import Bank of EUR 100m to support trade, ahead of AU-EU Summit in Abidjan]
The opening ceremony of the Joint AU-EU Ministerial Meeting was held on 28 November 2017 in the presence of AU Commissioners and high officials from the AU and the EU. According to Deputy AUC Chairperson H.E Mr. Kwesi Quartey, “it is only through good governance and democracy and the rule of law that our strategic partnerships can render the relationship truly beneficial, notably that with the EU, can we achieve and deliver on these priorities”.
Speaking at the 6th EU-Africa Business Forum that took place in Abidjan, Côte d’Ivoire on 27 November 2017, Commissioner for International Cooperation and Development Neven Mimica said: “Improving the conditions for investment in Africa is essential to create jobs and promote sustainable development. The EU is committed to team up with Africa and has set up a 44 billion euros External Investment Plan to unlock the untapped potential in sectors such as infrastructure, digital transformation and trade”.
Kenya adopts visa on arrival for Africans (New Times)
“The free movement of people on the continent has always been the cornerstone of African brotherhood and fraternity. Today, I am directing that any African wishing to visit Kenya will be eligible to a visa at the port of entry. To underscore Kenya’s commitment, this will not be done on the basis of reciprocity,” President Uhuru Kenyatta said during Kenya’s presidential inauguration in Nairobi. [Cotu hails Uhuru’s directive on free movement for E. Africans (Daily Nation)]
Kenya on Wednesday signed a $620 million agreement to build a 530 km (329 mile) highway from its east coast to the centre of the country, part of a campaign to boost its role as a regional trade hub. A consortium including a unit of South Africa’s Group Five and the Development Bank of Southern Africa will work with the state.
Kenya: Country hopes to upscale annual fish output from 120,000 to 430,000 metric tonnes (Standard Media)
Agriculture Cabinet Secretary Willy Bett said in a gazette notice last week the country plans to increase its tuna fish production that currently stands at 20 per cent, which is the second largest in the world, to tap into the $2 billion (Sh200 billion) global market.
Rwanda, Tanzania, Uganda, Burundi and the Democratic Republic of Congo officials have committed to work together in addressing challenges hindering cross-border trade in the region. The commitment, which is expected to help thousands of small-scale cross-border traders – especially women – to carry out their daily business smoothly, was made on Monday in Kigali during a regional advocacy meeting on cross-border trade.
Burge: Nigeria Must Tackle Barriers to Trade (ThisDay LIVE)
“We must not overlook the strength of private sector investment because it is not looking for political patronage, it is just looking for trade for commercial growth and that is what we must find ways of ensuring that interested innovative capital meet interested innovative propositions. If you put that together, you would see tremendous growth. One of the things I am here to do in Nigeria is talk to senior Nigerian business men.” [Chief executive of the Commonwealth Enterprise and Investment Council, Mr. Richard Burge, spoke about the benefits of CWEIC to members in an interview while in Nigeria].
Ashon’s Chairman, Ezeagu explained that the MoU was to bring the relationship between the NSE and its Casablanca counterpart enhanced professionalism and accelerated market development in both exchanges. Ezeagu noted that the MoU had provided a framework through which the two professional bodies could strategize in order to realize the objectives of collaborative efforts.
“MC11 is a very important moment. It is an opportunity to: take stock of the significant progress that we have made; deliver wherever we can; and set the direction for our future work. Precisely how far each issue proceeds will depend on the dynamics of each negotiation.”
An estimated 1 in 10 medical products circulating in low- and middle-income countries is either substandard or falsified, according to new research from WHO. This means that people are taking medicines that fail to treat or prevent disease. Not only is this a waste of money for individuals and health systems that purchase these products, but substandard or falsified medical products can cause serious illness or even death.
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