Early last month, the International Monetary Fund (IMF) caught the attention of investors when it issued a report predicting that Mozambique’s average economic growth rate between 2021-2025 could reach as high as 24 percent per annum and liquefied natural gas projects (LNG) could reach more than 50 percent of the country’s nominal output by the
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Nigeria’s Automotive Industry Shifts into High Gear
In late 2013, the administration of then-President Goodluck Jonathan made a bold bet: that it could jumpstart the country’s ailing automotive industry through a comprehensive—and controversial— industrial policy, known as the National Automotive Industry Development Plan (NAIDP). Although the policy is still young, there are now promising signs that these efforts to revive the once-vibrant…
AfDB President Launches “New Deal on Energy in Africa”
New African Development Bank President Akinwumi Adesina chose last week’s World Economic Forum at Davos for the official launch of the Bank’s New Deal on Energy for Africa, along with a Transformative Partnership for Energy in Africa (TPEA). While a candidate for the AfDB president position a year ago, Adesina placed energy at the top…
An End to the Never-Ending South African Poultry Dispute?
President Obama, on January 11, suspended the application of duty-free treatment to South Africa’s agricultural exports that come into the U.S. under the African Growth and Opportunity Act (AGOA). The suspension will take effect on March 15 if South Africa does not lower tariffs on American poultry products before then.
The development represents another twist
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Climate Negotiation Scorecard: How did Africa Fare at the COP 21?
The outcome of the 21st Conference of Parties (COP) of the UNFCCC, which came to a close just over a week ago in Paris, was generally a positive one for Africa. While, of course, the continent represents a wide range of interests when it comes to climate change, African countries have developed an increasingly unified…
Assessing the Paris Climate Agreement
Much no doubt will be written about how 195 nations came together in Paris to make a global commitment to tackle climate change and what changes in regulation and the investment landscape might result. From my vantage point in Paris during the negotiations, a few key impressions stand out.
First, the agreement overcomes those past…
Tanzania, Kenya and Nigeria Finally Stepping Up Anti-Corruption Efforts
Over the past two days, members of the private sector, government and civil society have gathered in Nairobi to discuss the role of the private sector in fighting corruption and implementing the Sustainable Development Goals. The scourge of corruption has long been one of the main obstacles to realizing the incredible potential of the people…
Africa’s Long Road to Paris
As the UNFCCC’s twenty-first Conference of Parties (COP) gets underway in Paris today to negotiate a post-2020 international climate treaty, it is time to recognize that African countries have come a long way in the global climate negotiations process. In the earlier days, climate change was portrayed as a scientific problem for so-called “developed” countries…
Kenyan Government Disavows Controversial Local Ownership Requirement
The Kenyan government has suspended a controversial local ownership requirement in the new Companies Act 2015. The confusion regarding how the provision made its way into the law is unsettling for foreign companies that are interested in one of the region’s top investment destinations.
Regarded as an overdue modernization of Kenya’s company and insolvency laws,…
Meet Four of the Key Ministers in President Buhari’s Cabinet
Five months after his inauguration, Nigerian President Muhammadu Buhari has sworn thirty-six ministers into his cabinet. Set out below is an overview of the four appointments that will be of particular interest to foreign investors: Babatunde Fashola (Minister of Power, Works and Housing), Kemi Adeosun (Minister of Finance), Okechukwu Enelamah, (Minister of Industry, Trade and…