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The Africa ReportThe Africa Report

The Africa Report No. 103

The Africa Report is the international publication of reference dedicated to African affairs, anticipating economic and political changes in Africa and relied upon for the independent expertise in its surveys, sector reports and country focus in each issue.

Country:
France
Language:
English
Publisher:
SIFIJA
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4 Issues

IN THIS ISSUE

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Trust and transparency matter if Africa wants to get serious long-term investors A frica needs cash and quickly: economies are not keeping up with booming populations, which is a shortcut to instability. The African Development Bank now estimates that the continent needs more than $100bn a year just to finance and maintain its infrastructure needs. But, while there are investors from East and West looking for bigger returns abroad due to low interest rates at home, the difficulty of enforcing property rights is holding back serious investment in the continent. The Federal Palace Hotel, Lagos, is the picture of potential. It has a prime lagoon-side spot, a casino, a renovated pool area and plenty of green space in a notoriously asphalted city. Despite this, the hotel is driving away investors because of…

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trending

CHINA MONEY TALKS As China strengthens its role as one of the contin ent's top financiers, officials from Western countries are launching a war of words. Whilst Paris Club and international financial institution lending combined still outstrips loans from China, China is now the largest single lender to Africa. And the Asian economic powerhouse is not content to act alone. The New Development Bank – which is led by the BRICS governments of Brazil, Russia, India, China and South Africa – is getting started and said in July that it could fund an additional $600m in projects in South Africa this year. Donald Trump's government in the US is angry about China's diplomatic and commercial advances, but so far it has done no more than complain about it. In July, Overseas Private Investment…

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moving in the same direction

The African Union (AU), established in 2001 to replace the defunct Organization of African Unity, which was founded in 1963, was formed to hasten the regional integration process in Africa to enable it to play its rightful role in the global economy. The AU has created an effective forum for its member states to adopt coordinated positions on matters of common concern to the continent in international fora and defend the interests of Africa effectively. It is this unity of purpose that gave birth to the celebrated Agenda 2063 - a 50-year continental people-driven plan outlining the “Africa We Want.” Agenda 2063 is a strategic framework for the socioeconomic transformation of Africa. But what does Agenda 2063 aspire to achieve? Its main objective is to create a prosperous Africa based on…

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dealbook

The total value of deals completed in 2017 in the sub-region was $22.6bn, up from the $19.6bn in 2016. Five of the top 10 deals that year, including Glencore in South Africa and Vodacom in Kenya, were inked in the first quarter alone. Overall, the energy sector had the highest value in transactions, with a total of 59 deals. FUNDRAISING LOANS AND LISTINGS FOR EXPANSION South African consumer food maker Libstar Holdings raised the targeted R1.5bn ($119m) in an IPO in May, one of the biggest JSE listings so far this year. The share sale valued the company at R8.5bn. The money will mainly be used for debt payment and expansion projects. The European Bank for Reconstruction and Development will loan Morocco’s SDX Energy up to $10m to finance the expansion of upstream…

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calendar

73 SESSION OF THE UN GENERAL ASSEMBLY 18 September – 5 October NEW YORK, US To mark the centenary of the birth of South African leader Nelson Mandela, this year’s assembly will host the Nelson Mandela Peace Summit on 24 September. This high-level plenary meeting will adopt a political declaration negotiated by member states. The nine-day General Assembly meeting begins the following day. Other meetings taking place parallel to the event are the Global Goals Week 2018, aimed at driving progress towards the Sustainable Development Goals, and Climate Week NYC 2018. un.org/en/ga SEPTEMBER CIBEX EAST AFRICA 3-5 September NAIROBI | KENYA International trade fair for construction, infrastructure, building and energy. cibexeastafrica.com SEAMLESS EAST AFRICA 3-5 September NAIROBI | KENYA Essential gathering for banking, payments and fintech professionals wanting to stay ahead in the digital race. 3 September is Financial Inclusion…

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a political deal to break zimbabwe’s cash impasse

Over morning coffee, Zimbabwean academics and international observers were arguing how the latest political explosion had torpedoed the government’s plans to win legitimacy, just three days after the 30 July elections. From the lobby at the Meikles Hotel in central Harare, one of them beckoned: “Welcome to the war zone!” The greeting was only half-humorous. The previous day, we journalists had been covering a demonstration by some 3,000 opposition activists, protesting at delays in the release of results for the presidential elections. It had started well enough. On some streets, police and demonstrators were shaking hands. Minutes later, everything changed. A small contingent had peeled away from the main cohort of protesters and ran towards the headquarters of the ruling Zimbabwe African National Union-Patriotic Front, a hundred metres from the electoral commission. Some…

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