INTERNATIONAL

New online statistical review helps to illustrate, in a quantitative way, UNCTAD's important contribution to the implementation of the global goals – UNCTAD launched an online statistical review of the 2030 Agenda and the Sustainable Development Goals (SDGs) on 25 June during its annual Trade Development Board meeting. The SDG Pulse presents analyses for a range of indicators relevant to trade, investment, financing for development, debt, transport and technology.

 (UNCTAD)

Key Words: UNCTAD, SDGs, 2030 Agenda

WTO report shows trade restrictions among G20 continuing at historic high levels - The WTO’s 21st Monitoring Report on G20 trade measures issued on 24 June shows that the trade coverage of new import-restrictive measures introduced during the period (October 2018 to May 2019) was more than 3.5 times the average since May 2012 when the report started including trade coverage figures. (WTO)

Key Words: WTO, G20, Report

New version of Market Access Map provides boost to transparency in trade – The International Trade Centre (ITC) today unveiled a new version of Market Access Map, its popular online trade analysis tool. The revamped portal will further enhance market transparency and facilitate the analysis of trade-related policy issues. (ITC)

Key Words: Trade, Market, Analysis

Research vital in making the balanced case for trade and the trading system - Director-General Roberto Azevêdo, in opening the seventh annual WTO/World Bank/IMF Trade Conference at the WTO headquarters on 24 June, said research is vital to make the case for the multilateral trading system as governments reassess policies and opportunities to renew cooperation arise. (WTO)

Key Words: Trade, Research, World Bank, IMF

Delhi offers blueprint to promote development, inclusivity at WTO - India has offered a blueprint for promoting development and inclusivity at the World Trade Organization (WTO) and emphasized that resolving the crisis at its highest adjudicating body must be the top priority. (Livemint)

Key Words: WTO, Delhi, Global

Trade stress, Iran tensions hits stocks, dollar frets on Fed doves -  European shares were spooked by Iran tensions and trade jitters on Tuesday, while the risk of more dovish talk from the Federal Reserve inflated gold to six-year highs and stoked demand for safe-harbor currencies like the yen and Swiss franc. (Egypt Today)

Key Words: Trade, Iran, US

PAN AFRICAN

COMESA raises alarm on illicit financial flows and money laundering - The Common Market for Eastern and Southern Africa (COMESA) and the International Criminal Police Organization (INTERPOL) recently took part in the 2nd Ministerial Conference on Maritime Security and the 22nd Plenary Session of the Contact Group on Piracy off the Coast of Somalia to address maritime insecurities. (EABW)

Key Words: COMESA, Financial Flows, Conference

What does Facebook’s Libra currency mean for Africa? The world’s largest social media platform is taking on a giant-sized project. Facebook has stated its plans for Libra, a digital currency backed by a reserve of real currencies and assets, which it hopes will grow to become globally accepted and adopted. Put another way, Facebook wants to create a global financial network based on a digital currency it’s about to unveil. (Quartz Africa)

Key Words: Facebook, Currency, Africa

UAE seeks deeper ties with African businesses - The Dubai Chamber of Commerce and Industry (Dubai Chamber) is set to host a forum aimed at firming up relations between businesses operating in Africa and the United Arab Emirates (UAE). The fifth edition of the Global Business Forum (GBF) on Africa will be held in November this year under the theme “Scale Up Africa”. (Standard Digital)

Key Words: UAE, Africa, Business

US is targeting sub-Saharan Africa for first free-trade pact - The US plans to pursue its first free trade agreement with a country in sub-Saharan Africa as soon as it decides on the most suitable candidate, according to the US Assistant Secretary of State for Africa.
“I am passionate about having one with a sub-Saharan African country,” the State Department’s Tibor Nagy said at the University of the Witwatersrand’s Business School in Johannesburg. (Gulf Times)

Key Words: US, Africa, Trade

New Project to Increase Market Access to Regional Agricultural Products starts – Regional countries are set to increase market access for their agricultural products following the commencement of a new capacity building project to mainstream sanitary and phytosanitary standards (SPS) priorities into national policies. (EABW)

Key Words: Women, Trade, Global

Africa’s biggest “digital dividend” in rural areas – study – Digital innovations could transform African rural areas and agriculture while tackling many of the continent’s other emerging challenges, from youth unemployment, food insecurity and the need for further economic growth, a new report has suggested.(EABW)

Key Words: Africa, Digitalization, Study

The US International Trade Administration website has opened a Prosper Africa section – Prosper Africa is a U.S. Government Initiative that unlocks opportunities to do business in Africa — benefiting companies, investors, and workers both in Africa and the United States. The goal is to substantially increase two-way trade and investment between the United States and Africa. (ITA)

Key Words: U.S, Africa, Trade

5th Tony Elumelu Foundation Entrepreneurship Forum (26-27 July, Abuja): Presidential Dialogue participants - The Tony Elumelu Foundation (TEF), Africa’s champion of entrepreneurship, has announced the line-up of speakers and activities for the 5th Tony Elumelu Foundation Entrepreneurship Forum — the largest annual gathering of African entrepreneurs and the African entrepreneurship ecosystem.  (The Tony Elumelu Foundation)

Key Words: Entrepreneurship .Abuja, President

NORTH AFRICA

SDG coordination in North Africa: five areas of intervention identified – The ECA Office for North Africa held, on 18-19 June in Rabat (Morocco), the 6th meeting of the Sub-Regional Coordination Mechanism (SCRM) for North Africa, under the theme: Supporting the achievement of SDGs and strengthening partnerships in North Africa. (UNECA)

Key Words: SDG, SCRM, North Africa

The International Grains Council (IGC) forecasts Tunisia’s 2019-20 grains crop at 1.4 million tonnes, up from 1.1 million in the previous year - Tunisia, on the north coast of Africa, depends on imports for a large part of its supply of grain. The government aims to increase the level of self-sufficiency and the market is managed by the authorities, with subsidies and other technical help for farmers designed to achieve that aim. (World-Grain.com)

Key Words: Tunisia, Africa, Business

CBE launches initiative for training African banking cadres - The Central Bank of Egypt (CBE) on Tuesday launched an initiative for training African banking cadres in Egypt. 
The initiative is launched in line with directives by President Abdel Fattah El Sisi for boosting cooperation with African countries, said a statement by the bank.  (Egypt Today)

Key Words: Egypt, Africa, Bank

Morocco Approves Fisheries Agreement with EU - The Committee of Foreign Affairs and National Defense and Islamic Affairs and MREs (Moroccans Residing Abroad) in the parliament ratified Wednesday a partnership agreement in the field of sustainable fishing with the European Union (EU) and an agreement to establish the African Continental Free Trade Agreement. (Asharq)

Key Words: Morocco, Fisheries, EU

Egypt and Simens agree on smart economic zones deal - The Egyptian government will partner with Siemens, Europe’s largest industrial manufacturing company, continuing its aggressive drive to make local industries competitive. As part of the deal, Siemens will set up specialized industrial zones matching the available resources in that location.  (Ventures Africa)

Key Words: Egypt, Simens, Economic Zines

EAST AFRICA

Implementing the AfCFTA: ECA co-hosts Horn of Africa Regional Trade Forum in Addis Ababa - The operationalisation of the African Continental Free Trade Area (AfCFTA) and its implications for the Horn of Africa, particularly in terms of industrialization, economic diversification and job creation, will be the focus of a Regional Trade Forum on 27-28 June in Addis Ababa. The Forum aims to provide a unique platform for all stakeholders, from policy makers to private sector actors, academics and civil society organisations, to explore the extent to which the AfCFTA can be a game changer in the Horn and help address its specific trade and competitiveness challenges. (UNECA)

Key Words: UNECA, AfCFTA, Forum

Rwandan Trade with the Democratic Republic of Congo set to increase by USD 56 million under the AfCFTA - When the African Continental Free Trade Area is implemented, the UN Economic Commission for Africa (ECA) estimates an increase of intra-African exports of Eastern Africa by over US$ 1 billion. For Rwanda, much of that would be explained by increased trade with its neighbour, the Democratic Republic of Congo. (UNECA)

Key Words: Rwanda, Trade, DR congo

Nairobi steps up bid for trade bloc headquarters – Nairobi is growing increasingly confident it will beat its five competitors in the race to host the secretariat for a proposed continental trade bloc. Kenya, Ghana, Ethiopia, Senegal, Egypt, Madagascar and e-Swatini (formerly Swaziland) are battling it out to host the seat for the African Continental Free Trade Area (AfCFTA) which has been ratified by 52 of 55 countries. (Business Daily)

Key Words: Nairobi, AfCFTA, Host

East African farmers decry lack of markets for their produce - East African farmers and producers under their umbrella organization Fair-trade East and Central Africa Network have pointed out the lack of markets for their produces as a major hindrance towards them achieving the middle-income status. (EABW)

Key Words: EA, Farmers, Trade

Rwanda builds its first gold refinery, plans to earn $1.5 billion from mineral exports by 2024 - Rwanda is shifting gears from extraction to beneficiation in hopes of maximizing mineral its revenue. By 2024, the country plans to earn $1.5 billion from mineral exports. (African Exponent)

Key Words: Rwanda, Mineral, Export

The Government of Colombia is set to open an embassy in the political capital of Africa, Addis Ababa, says Foreign Ministry of Ethiopia - Head of the delegation Alfredo Ramos Gonzalez, who is director of African affairs, has stated that his government has decided to open an embassy in Ethiopia because the country is a diplomatic hub in Africa and its economy is growing fast. He also indicated that the foreign minister of Colombia will be coming to Ethiopia for political consultation with Ethiopian officials. (NBE)

Key Words: Colombia, Embassy, Addis Ababa

Women Enterprise Fund partners with Coca-cola for business - Women Enterprise Fund and Coca-Cola Central, East and West Africa Limited will now empower a further 285,000 Kenyan women with business and finance skills training for the next two years. To make this possible, WEF has renewed its cooperation with Coca-Cola who will be investing Sh12.6 million ($125,000) to support the initiative. (The Star)

Key Words: Women, Coca-Cola, Business

WEST AFRICA

West Africa To Ditch the Colonial CFA Franc and Establish a Regional Pan-African Currency By 2020 – 2020 could mark the end of the colonial CFA Franc currency in 8 countries when ECOWAS introduces a new West African regional currency. It will be a win for African integration and a big loss for neo-colonialism. (The African Exponent)

Key Words: West Africa, Currency, Regional Integration

NECA’s Network of Entrepreneurial Women - Mrs Omolola Ajani is the Chairperson of the Abuja Branch of NECA’s Network of Entrepreneurial Women, NNEW, a platform established under the aegis of Nigeria Employers’ Consultative Assembly. In this interview with our team in Abuja, she outlines efforts of her organization in building sustainable businesses among Nigerian women. She notes that women businesses are yet to feel the impact of the federal government Ease of Doing Business initiative, while outlining the agenda for tomorrow’s training programme with the theme “Instituting Corporate Governance in Our Businesses.” (Vanguard)

Key Words: Nigeria, Africa, Entrepreneurs

SOUTHERN AFRICA

Lesotho ready to channel its growth to go digital - E-commerce is a way for small African nations to punch above their weight by boosting economic performance and diversifying income sources. New report on Lesotho shows how the small, mountainous nation could unlock its digital market to diversify its economy. (UNCTAD)

Key Words: Lesotho, Growth, E-Commerce

Mauritius-China: Signing of grant agreement and protocol for partial annulation of debt - Mauritius and China signed two agreements, namely, a grant to the tune of 100 million RMB (Rs 513 million) and a protocol relating to the partial annulation of a sum amounting to 78 million RMB (Rs 400 million) of the debt of Mauritius, on June 20th, at the Treasury Building in Port Louis. (govmu)

Key Words: Mauritius, China, Debt

Zimbabwe ends decade of dollarisation in new currency reform -  Zimbabwe made its interim currency the country’s sole legal tender on Monday, ending a decade of dollarisation and taking a another step towards relaunching the Zimbabwean dollar. The central bank also hiked its overnight lending rate to 50% from 15% as a part of a set of measures to protect the RTGS dollar introduced in February. (The Star)

Key Words: Zimbabwe, Dollar, Reform