ATPC Daily Digest 25 July 2018

 

INTERNATIONAL

China’s heavy investment in Africa not a threat - The African Development Bank (AfDB) has dismissed concerns that continued borrowing from China by African States for infrastructural developing is exposing the continent to exploitation by the East. AfDB says it views China as a partner in bridging the infrastructural development gap in the continent.  (The Exchange)

Keywords: China, Africa, AfDB, Heavy investment

China's latest trade partner in Africa could help it export to the US - Chinese President Xi Jinping visited Senegal over the weekend, building trade ties which could bear fruit in terms of China’s access to U.S. markets. Following bilateral talks between Xi and his Senegalese counterpart Macky Sall, Senegal signed up to be the first West African nation committed to China’s Belt and Road Initiative. (Tralac)

Keywords: China, Africa, US, Belt and Road Initiative

Why BRICS bank is loaning South Africa and China $300 million each - The New Development Bank, set up by the BRICS group of emerging economies, has approved loans of $300 million for energy projects in South Africa and $300 million for a transportation project in China. South Africa is trying to diversify its energy mix to reduce its reliance on heavily polluting coal-fired power plants. (CNBC Africa)

Keywords: BRICS bank, South Africa, China

Brexit worries, trade war fears may follow good year for UK's manufacturing - British manufacturing has enjoyed good performances over the past 12 months with strong growth driven by devalued sterling and a buoyant global economy, but uncertainties over Brexit and the U.S. trade war are danger points for the coming year, an analysis from EEF, the manufacturers' organization published on Monday showed. (Xinhua)

Keywords: UK, Brexit, Manufacturing

U.S. sets hearing dates for proposed new tariffs on Chinese goods - The U.S. Trade Representative’s office said on Monday it would hold public hearings July 24 and 25 on its proposal to impose tariffs on a list of $16BN worth of Chinese goods in response to what it claims are Beijing’s unfair trade practices. (Reuters)

Keywords: U.S, New tariffs, Chinese goods

 

PAN AFRICAN

UN urges Africa to develop regulations to spur e-commerce growth - The United Nations has urged African states to develop regulations in order to spur e-commerce growth. Mukhisa Kituyi, Secretary-General of UN Conference on Trade and Development (UNCTAD), told journalists in Nairobi on Monday that the continent lags the rest of the world in the uptake of digital trade due to lack of a conducive ecosystem. (Business Standard)

Keywords: UNCTAD, Africa, E-commerce, Regulations

AU blames lack of information for low intra-Africa trade - Lack of information of market opportunities among traders across Africa is the biggest cause of low intra-Africa trade, the African Union said on Monday. During the African Union e-commerce conference in Nairobi, Albert Muchanga, the African Union Commissioner for Trade and Industry said the AU is going to develop the pan-African observatory to provide the prices of most traded goods and services across Africa in order to spur intra-Africa trade.(Xinhua)

Keywords: AU, Intra-Africa trade, Market opportunities

 

CENTRAL AFRICA

Key points for Chad’s industrialization and economic diversification hatched - The Economic Commission for Africa (ECA) and the Government of Chad are firming up the Action Plan for the Elaboration of the Economic Diversification Strategy of the country, which they have agreed to hinge on the development of agribusiness; the expansion of the livestock sector with a focus on leather and meat production; among others.  (UNECA)

Keywords: Chad, ECA, Economic diversification

 

EAST AFRICA

Ethiopia, India assess ways to increase trade cooperation - Ethiopia and India assess some ways to increase cooperation in the manufacturing sector, especially in the textile industry, considering the market opportunities offered by this country.  (Prensa Latina)

Keywords: Ethiopia, India,Trade cooperation

South Sudan: How should Uganda do business this time? - Should the ongoing peace negotiation, currently in high gear, succeed, South Sudan, once Uganda’s biggest export market, would have its door flung opened for business, again. But unless the peace deal is struck and some reasonable stability is restored, the enormously lucrative market will remain a no go investment destination for majority of Ugandan exports. (Daily Monitor)

Keywords: South Sudan, Uganda, Export market

South Korea to build $109M bridge for Tanzania - Tanzania and a South Korean firm have signed a deal worth $109M for the construction of the Selander Bridge Flyover.The bridge will decongest the traffic snarl up in Dar es Salaam and enhance the transport sector. (The Exchange)

Keywords: South Korea, Tanzania, Bridge

How Rwanda has strategically positioned itself as an investment hub - Rwanda is banking on its political stability, good governance and well-functioning institutions to attract new investments into the country. The country is on an aggressive global charm-offensive to lure new investors, while enticing existing financiers to re-invest in the country. (The Exchange)

Keywords: Rwanda, New Investment, Economic power

 

NORTH AFRICA

Algeria, Brazil agree to boost economic partnership -  Algeria and Brazil on Monday agreed to strengthen their economic partnership by amending signed cooperation agreements. The two countries, held in Algiers, their second bilateral strategic dialogue meeting. After the meeting, Brazilian Foreign Minister Aloysio Nunes noted that the two sides agreed to organize a meeting between their two trade chambers as soon as possible in order to establish the business forum.  (Xinhua)

Keywords: Algeria, Brazil, Economic partnership

Sisi inaugurates 4 megaprojects in electricity Tuesday - President Abdel Fatah al-Sisi on Tuesday inaugurated four national megaprojects in the electricity sector. The projects include three giant power plants with a total capacity of 14400 megawatts, or about 50 percent of the electricity grid.  (Egypt Today)

Keywords: Egypt, Electricity, Megaprojects

Egypt to begin exporting grape seedlings to Morocco - Egypt will begin exporting grape seedlings to Morocco for the first time. The decision was made after a series of extensive negotiations between Moroccan and Egyptian quarantine authorities, which discussed the quality of Egyptian agricultural exports and examined whether the imports would meet Morocco’s safety requirements.   (Morocco World News)

Keywords: Egypt, Morocco, Grape seedlings, Exports

Morocco satisfied with terms of new EU-Morocco fisheries deal - Moroccan negotiators have expressed their satisfaction with the terms of a new EU-Morocco fisheries deal, underlining the fact that the deal “underpins Morocco’s integrity over its southern provinces.” (Morocco World News)

Keywords: Morocco, EU, Fisheries deal

 

SOUTHERN AFRICA

Namibia reviews position on SACU revenue - Cabinet has approved that Namibia continues consultations to refine the country's position on the Southern African Customs Union revenue-sharing agreement. This was said by deputy information and communication technology minister Engel Nawatiseb. (Tralac)

Keywords: Namibia, Revenue-sharing, Agreement review

Botswana, China sign MoUs to improve trade relations - Botswana and China on Monday signed two Memorandums of Understanding (MoUs) to strengthen trade and investment ties. China Ambassador to Botswana, Zhao Yanbo said the China-Botswana economic and trade cooperation was a win-win principle with a common goal of improving the people's livelihoods.  (Xinhua)

Keywords: Botswana, China, MoU

China’s plans to invest $14.7 billion in South Africa, what you need to know - China would invest $14.7 billion in South Africa President Cyril Ramaphosa said on Tuesday after talks between the two countries, news that sent the rand one percent firmer. (CNBC)

Keywords: China, South Africa, Investment

Zambia, South Africa work for stronger trade ties - In seeking to cement business partnerships between Zambia and South Africa, the railway sector has not been left out. Unlike in Zambia, the railway sector in South Africa has over the past years grown and is contributing effectively to the economy of that country. (Zambia Daily Mail)

Keywords:Zambia, South Africa, Trade ties, Railway

 

WEST AFRICA

Nigeria: NACCIMA explains apathy to AfCFTA ratification - The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called on the Federal Government to ratify the Africa Continental Free Trade Area Agreement (AfCFTA) citing that apathy towards the treaty was spurred by fear of dumping from other African countries. (The Guardian NG)

Keywords: Nigeria, AfCTA, Ratification

Nigeria, Niger Sign MOU on pipeline and refinery Projects - Nigeria and the Republic of Niger have signed a Memorandum of Understanding (MOU) for the Niger/Nigeria Hydrocarbon Pipeline & Refinery Projects & Inauguration of the Steering and Technical Committees held in Abuja. (Economic Confidential)

Keywords: Nigeria, Niger, Refinery, Hydrocarbon

Nigeria unveils programme to revive agro-allied industry - The Government of Nigeria has launched the Nigeria Agri-business and Agro-industry Development Initiative (NAADI), to revive agro-allied industries including the textile industry. A zonal office for the implementation of the initiative has been set up in Kano. (Punch)

Keywords: Nigeria, Agro-allied industry, Textile industry, Kano