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3U.S AFRICA TRADE DECEMBER 2014

WORLD TRADENorth America: Canada strengthens its position in Africa ............................................. 4Europe: Trade deal EU and East Africa community ............ 4Asia: China strikes a deal with Tanzania .......... 5

TALK NUMBERS Talk Number ................................................... 7

THEY SAIDThey Said ....................................................... 5

DIPLOMACYU.S. launched share project in Nigeria. ............ 6

ON THE RADAR Food and Drug Administration ........................ 6

REGULATIONRegulation ...................................................... 7

SPOTLIGHTBusiness in Tunisia .......................................... 8

FOCUSSecurity: The future of U.S investment in Africa .... 12

LOGISTICS What A Transafrica Means For Africa ............. 10

AIRLINES BIZAfrica airlines push for safety ......................... 11

INVESTMENTBusiness Africa: U.S persists and signs . 16

CHAMBER OF COMMERCEAmerican business council (ABC) of Nigeria .. 17

INVESTMENTHow African countries deal with U.S sanctions on Russia. ..................................... 18

CURRENCY SNAPSHOTAfrican Currencies Versus U.S ...................... 15

TRAVEL/TOURISM: Africa’s tourism industry and itsrecovery from by Ebola ................................. 20

TRADE AGENDA/ANNOUNCEMENTTrade Agenda/Announcement ...................... 22

CONTENTS

WORLD TRADE AND AFRICA

NORTH AMERICA: CANADA STRENGTHENS ITS POSITION IN AFRICA

Ca n a d i a n t r a d e

f i n a n c e ag e n c y

Export Development

will open its first African

office in Johannesburg in

2015. That was the announce-

ment made byEd Fast, Canada Minister of International Trade, in Johannesburg, South Africa, last November 2014

The country is joining other nations like U.S, China, India, Brazil, Japan, Russia and several other European countries active on the continent in the last 5 years. In 2012,

Fast said Canada had chosen Johannesburg as the location for its first Export Development Canada (ECD) office because of the city's economic position as the financial gateway to southern Africa. He added that the ECD, through its Johannesburg-based team, would focus on connect-ing more Canadian businesses, particularly small and medium-sized enterprises (SMEs), to the growing supply chains within intra-African trade.

after signing some trade and investment initiatives with Ghana, Benin, Cameroon, Burkina Faso, Ivory Coast, Tunisia, Zambia and Senegal, Canada concluded an investment promotion deal with Tanzania, a country that will see increased Canadian investment in mining, oil ,and gas and transportation.

Although Canada's bilateral trade with Africa jumped from an annual C$2bn at the beginning of the 21st century to C$13bn, the volume of trade between Canada and Africa remained steady in 2013 in comparison with China, India, Turkey and Brazil, who are enhancing their trade and technology relationships with Africa by 25-40% a year. Addressing to media briefing in Johannesburg,

EUROPE: TRADE DEAL EU AND EAST AFRICA COMMUNITY

In November 2014, the European Union (EU) finalized a

trade deal with the East African Community (EAC).One

year earlier, precisely, in 2013, total trade between EU

and the East

African Community amounted to €5.8 billion. EU imports

from the EAC are worth €2.2 billion and consist mostly of

coffee, cut flowers, tea, tobacco, fish and vegetables. Exports

from the EU into the EAC are mainly machinery and mechanical appliances, equipment and parts, and vehicles and pharmaceutical products. After years of fierce negotiations between the two parties, negotiators from the EU and the East African Community (EAC) were finalized in November 2014. This new comprehensive Economic Partnership Agreement (EPA) between both regions will provide legal certainty for businesses and open a long-term perspective for free and unlimited access to the EU market for products from Burundi,

Kenya, Rwanda, Tanzania and Uganda. All EAC members, with the exception of Kenya, are least developed countries according to the UN classification.

The current development prospects indicate however that they may be successful in leaving this group in a relatively near future. Eurozone unemployment is horrendously high at over 19 million people, and a rate of 12%. In Spain and Greece unemployment is over 26% and youth unemployment over 50%.

With 26 million people unemployed in the EU and an entire generation predicted to face the prospect of poverty in old age, it is clear that policies to create growth, jobs and hope in Europe will be through investment; investment that Africa needs. There is no doubt that this new deal between EU and the East African community will ease the EU debt and economic crisis.

BY GERALD NATHALIE

BY VIRGINIE YVONNE

U.S AFRICA TRADE DECEMBER 20144

Salaam. In addition, $85 million in grants and zero-interest loans came from China; Tanzania and Beijing has signed investment deals worth more than $1.7 billion. The money will be used to develop infrastructure, business cooper-ation, and power distribution. China's exports to Tanzania, which totaled $1.099 billion from 2012 to 2013, roughly doubled the $495.74 million worth of goods.

The project, as well as a $500 million financial center

Asia: China Strikes A Deal With Tanzania

B eijing's massive invest-

ment in Africa is

unprecedented and

won’t stop; as the second

largest economy continues

to spread its investment in

Africa. With a population in the continent reaching 1.069 billion people in the year 2014, accord-ing to World population statis-tics, China continues bidding big in Africa. In October, Beijing announced that it plans to build a satellite city to ease congestion in the commercial capital of Dar es

that will, in addition, be built in Dar Es Salaam, are joint projects with the China Railway Jianchang Engineering Company Ltd (CRJE) and Tanzania's state-run National Housing Corporation. In recent years, Chinese companies have signed deals to build a rail network and a 532 km (330 mile) natural gas pipeline.

THEY SAID

PRESIDENT OBAMA

“OUTLINED HIS VISION FOR HOW THE UNITED STATES AND AFRICA WOULD WORK TOGETHER TOWARD A MUTUALLY-BENEFICIAL FUTURE”.

GUIDO WESTERWELLE, GERMANY FOREIGN MINISTER

"WHAT WE ARE EXPERIENCING IN AFRICA IS POSSIBLY THE MOST FASCINATING SIGN OF OUR WORLD IN FLUX."

FRANCOIS HOLLANDE, FRENCH PRESIDENT

” AFRICA HAS CHANGED, SO AS FRANCE”

LUCIEN BRADET, PRESIDENT & CEO OF THE OTTAWA-BASED CANADIAN COUNCIL ON AFRICA.

"WHAT WE HAVE NEGLECTED IN THE PAST IS BEING PART OF THE ECONOMIC DEVELOPMENT OF AFRICA IN A SIZEABLE MANNER", "WE ARE NOT DOING A GOOD JOB"

SHINZO ABE, JAPAN PRIME PRIME

“OUR ECONOMIC FRONTIER NOW EXTENDS TO AFRICA. I WILL FIRMLY PUSH AHEAD WITH JAPAN’S PROACTIVE ECONOMIC DIPLOMACY, TAKING A PANORAMIC PERSPECTIVE OF THE WORLD MAP.

BY MICHEL NGONO

President Xi in Dar Es Salam, Tanzania Photo:AFP


SHARE program comes at the right

time due to Nigeria low revenue per household that makes 70 % of

its economy. At the ceremony, Mrs. Brewer

said, “The benefits of successful farms

reach far beyond the home. Successful

farmers are the backbone of their commu-nities, their country, this continent, and the world.”

She noted that with sixty percent of the arable land on the planet, Africa has a tremendous opportunity to feed billions

worldwide. SHARE seeks to improve local economic development and increase the incomes of 42,000 households in Sokoto, Kebbi, and the Federal Capital Territory. SHARE will increase agricultural produc-tivity, elevate income and wealth, reduce poverty and improve nutrition habits in several communities for the benefit of women and children. It will also provide community members the skills to engage effectively in the local economy and break free from the cycle of poverty and malnutrition. Through

President Obama’s Feed the Future Initiative, the United States is helping the Nigerian people enhance their farming methods, providing protection against soil erosion, and connecting small farmers to the marketplace.

The five-year, $20 million SHARE project will be implemented by Catholic Relief Services Nigeria, Mercy Corps, Catholic Caritas Foundation of Nigeria, and the Federation of Muslim Women’s Associations of Nigeria.

Source: Nigeria U.S embassy

US-AFRICA DIPLOMACY

U.S. LAUNCHED SHARE PROJECT IN NIGERIATwo months ago, Maria Brewer, Deputy Chief of Mission at the U.S. Embassy in Abuja, launched the Support to Vulnerable Household Accelerated Revenue Earnings (SHARE) program during a ceremony in the state of Sokoto, Nigeria.

James F. Entwistle: U.S Ambassador to the Federal Republic of Nigeria since October 28, 2013.


E-ON THE RADAR

FOOD AND DRUG ADMINISTRATION

Formed in 1906, theFood

and Drug Administration

(FDA or USFDA) is a

federal agency of the United States

Department of Health and Human

Services, a federal executive department.The FDA is responsible for protect-ing and promoting public health through the regulation and supervi-sion of food safety, tobacco products, dietary supplements, prescription and over-the-counter pharmaceu-tical drugs (medications), vaccines, biopharmaceuticals, blood transfu-sions, medical devices, electromagnetic radiation emitting devices (ERED), cosmetics, animal foods and feed, and

veterinary products. The FDA was empowered by Congress to enforce the Federal Food, Drug, and Cosmetic Act, which serves as the primary focus for the Agency. The agency also enforces other laws, notably Section 361 of the Public Health Service Act and associated regulations; many of which are not directly related to food

or drugs. These include regulating lasers, cellu-lar phones, condoms, control of disease and products ranging from certain household pets to sperm donation for assisted reproduction. The FDA is led by the Commissioner of Food and Drugs, who is appointed by the President with the advice and consent of the Senate.

B-TALK NUMBERS

BY JAMES WALKER

163million passengers

traffi c Reaching

382million: the size of Africa’s workforce

72million: new wage-paying jobsthat could be created by 2020

600million people, 70%

of Sub-Saharan Africa population is without electricity.

1.069billion people in Africa in 2014

30.3million km²


SPOTLIGHT

Business In TunisiaAccording to the Central Bank of Tunisia, the export of manufactured goods, excluding food products grew at a 6.8% pace in 2013. Energy exports and minerals mainly crude oil and phosphate exhibit high year-to-year variance, depending on market conditions.

BY MARIE LOUISE

Imports rose by 5.8% in 2013, a much slower pace of increase than was registered in 2012. Importation of raw materials and semi-fi nished products lagged behind in 2013 as did

indus-trial sector consumption of medium and high voltage electricity and capital goods imports dropped by 2% after seeing a 14% increase in 2012.


As country opens to Europe, Tunisia offers investment

incentives to all investment projects, except those

relating to mining, energy and finance. The 1994

Investment Incentives Code promotes the country’s overall

investment goals. Tunisia Foreign Investment Promotion

Agency (FIPA) ESTIMATED THAT overall foreign investment

flows for 2013 surpassed $1.2 billion, primarily in the form of foreign direct invest-ment (FDI) with less than 10% in portfolio.

This investment stream is below 2012 levels although higher than the tumultuous revolution year of 2011. The energy sector took in over half of all FDI inflows, while industries and services ranked second and third. Foreign investment in agriculture was almost insignificant.

The U.S International Trade Commission estimated that, in 2013, Tunisia was the United States’ 88th largest goods trading partner. Bilateral trade in goods reached $1.54 billion, with U.S exports to Tunisia totaling $804 million. Top U.S. export catego-ries were petroleum oils, petroleum coke, aircraft, soybeans, seeds, fruit and machinery.

Major imports from Tunisia included olive oil, animal or vegetable fats, apparel, and electrical machinery. Tunisia has a diverse, market-oriented economy. According to the IMF, real GDP growth in 2013 was 2.6%, about 1% below growth in 2012. Real GDP growth for 2014 is expected to tick upward slightly. Unemployment

remains high at over 15%, with the jobless heavily weighted towards youth and recent university graduates. With its eye on provid-ing employment opportunities, the Government Tunisia (GOT) is focused on bolstering the country’s export sector, foreign invest-ment, and tourism.

Key exports include mechanical and electrical industries, textiles and apparel, food products, petroleum products, chemi-cals, and phosphates. Almost 70% of Tunisia’s exports go to the European Union.

About 6.3 million tourists arrived in the country in the 2013, a moder-ate increase following very soft years in 2011 and 2012. Much of this growth in tourism came from elsewhere in the Maghreb countries, particularly from Libyans.

The European tourist market has yet to recover from pre-rev-olution levels. Inflation is expected to decelerate slightly in 2014.Tunisia registered a $674 million balance of payments deficit in 2013, against a surplus of $1.3 billion a year earlier. As a consequence, net foreign currency assets at the end of 2013 came to $7.1 billion, corre-sponding to 106 days of imports.

For the FIPA, these capital inflows (excluding the energy sector) generated almost 10,000 new jobs in 2013. At over $123 million, France still ranked first in 2013 in terms of foreign invest-ment in Tunisia. Germany came in second ($38.4 million) followed by Italy ($37.1 million).

Tunisia: State in North

Africa:Tunisia

population: 10.886500

millionsCapital City:

Tunis


LOGISTICS

What A Transafrica Means For Africa

As Logistics involves the functions of transportation, distribution, warehousing, and order processing, most African countries are lagging behind. If the problem is not propor-tional from one country to another, the reality remains the same.

East, West, and Sub-Saharan Africa are plagued by poor and under-developed trans-portation infrastructure, limiting accessibility to consumers, hampering intra-regional trade and driving up import and export costs. That is where U.S companies need to focus as the continent is in transition.

Southern Africa is the most developed region, from an infrastructure and intra-re-gional connectivity perspective. Perhaps most notable is the widespread use of rail as a key mode of transport for freight transporta-tion in Southern Africa –an option which is currently heavily under-utilized in the rest

of Sub-Saharan Africa. Frost & Sullivan’s analysis of infrastructure development in Sub-Saharan Africa reveals that US$174 billion (R1 800 billion) is being invested in transport and logistics infrastructure in the region. US$ 28 billion dollars is being invested in the development of major Trans-African road and rail corridors and deep-sea ports in order to rapidly improve trade volumes in sub-Saharan Africa. So the development of a TransAfrica will help speed up the trade between the West and East Africa.

East and West Africa are regional growth ‘hotspots’ –from an economic perspec-tive, but also due to the numerous multina-tional companies targeting these regions for expansion. Compared to Southern Africa, transport and logistics infrastructure in these regions is very poor. The infrastruc-ture has been poorly maintained, resulting in

dilapidated and over-congested roads, poorly functioning railway systems and inadequate airports. Regional connectivity is better in East Africa when compared to West Africa. Over the course of the last decades, the East African Community (EAC) has introduced regulations which seek to promote intra-re-gional trade. Unlike East Africa, the mineral wealth of West Africa has been known for decades – and has to a large extent driven an individual-country focus to infrastructure development, as countries have less need to trade with each other, and prefer to focus on moving resources to ports internally. As a result, intra-regional trade volumes remain low and the regional infrastructure network is poor. Experts, in the continent, agree that a transAfrica will be the ultimate solution as Africa economy continues to grow.

BY MICHEL LEANDRIN


AIRLINES BIZ

Africa Airlines Push For Safety

Since 9/11 and the attempt in 2010

of the bombing of a U.S airliner

on Christmas day by a

Nigerian, African countries stepPED up

Airport security Measures.

The African continent only accounts for 2.85 percent of the world total in passen-gers transported in spite of being the second largest and second most populous continent.

Air transport in Africa has suffered decades of lack of investment, lack of vision and mismanagement leading to decaying infrastructure, outdated equipment and unsafe air transport system. As the conti-nent continues its progress towards develop-ment and economic growth, Africa has seen strong growth in air traffic in recent years. To combat insecurity, several countries in Africa increased check points at airports following the Christmas Day bombing attempt on a U.S airliner by a Nigerian man.

Other countries say they have no plans for upgrades, but are monitoring the situa-tion. Reaction to the attempted bombing of a U.S. airliner on Christmas Day Nigerian student Umar Farouk Abdulmutallab departed from Accra and transited through Lagos and Amsterdam have set the alarm in the six African nations with direct air links

to the United States. Ghana has installed full-body scanners at Accra's international airport. Nigeria has also increase security with scanners at Lagos international airport. Over the past two decades or twenty years, major incidents involving airlines in Africa has been registered. In response, EU banned a third of all African airlines from operating in EU territory.

In order to address this, a series of initiatives to address critical setbacks in the continent’s vast aviation sector till 2015 were high on the agenda of the extraordinary session of aviation safety in Africa organized by International Air Transportation Association in South Africa, May 2012.

One of the main issues discussed was the impact of regulatory oversight on the train-ing of flight crew and maintenance person-nel, and the vital role of efforts to reduce the large number of African carriers currently blacklisted in the EU.However, regulations remained entangled in various stages of difficulty that inhibit further progress.

Of the 24 countries represented under the blacklist of airlines not permitted to enter European airspace, a staggering 17 of those are African nations,which alone comprise 130 different air operators. Not only does

this designate the monopoly on international services from the region to foreign carriers, but the stigma of EU blacklisting to severely constrains further progress through prospective code share arrangements and third party collaboration.

In May 2013, in order to address this, a series of initiatives to address criti-cal setbacks in the continent’s vast aviation sector till 2015 were high on the agenda of the extraordinary session of aviation safety in Africa.

In July 2012, the safety plan on Africa aviation was enhanced by the commitment of the Director Generals of African Civil Aviation Authorities and by the Extraordinary Session of the Conference of Ministers of Transport held in Abuja, Nigeria.

This commitment has been formal-ized in a document referred to as the ‘Abuja Declaration’.

The plan is based on the implementa-tion of an effective and transparent regulatory oversight system, runway safety measures, flight data analysis (FDA), Safety Management Systems (SMS), and all African operators to implement the IATA Operational Safety Audit (IOSA). These measures aim at putting safety at the center of majors Africa airports.

BY MARYVONNE ISABELLE

Boeing 787, in Pretoria Airport, South Africa


FOCUS

Speaking on the future of U.S. investment policy in Africa at the Heritage Foundation on November 2, 2011, African invest-ment expert Peter C. Hansen, Principal Counsel at the Law Offices of Peter C. Hansen, LLC, a Washington firm, specializes in African investment law, explained that U.S. investors generally

avoid Africa because the financial risks are simply too high. For him Africa has not been a priority for U.S. foreign and defense policy historically. He added “For most of the past century, most African nations have been either ruled by European colonial powers or subjugated by strongmen bent on

With a population of over a billion in Africa, U.S continues to be the second trade partner of Africa behind China. But competition, terrorism, and the reality on the field are reshaping U. S investment in Africa.

BY GISCARD AYISSI


THE FUTURE OFU.S INVESTMENT

IN AFRICA

self-enrichment and maintaining power.” Hansen allegations cannot be lightly taken, but one thing is certain, as Africa has prospered, American interests in the region have increased.

By changing its investment dynamic in the continent the security issues are not yet settled, situation, which is giving a new prospect for the U.S investment in Africa.

To some extent, the future of U.S investment in Africa, a continent of more than a billion inhabitants can be viewed with a lot of optimism. The African Growth and Opportunity Act (AGOA) signed into law on May 18, 2000, as Title 1 of The Trade and

Development Act of 2000, an act offering tangible incentives for African countries to continue their efforts to open their economies and build free markets, has been efficient

to increase U.S investment in Africa so far. But as it appears, several dynamics are to be considered in order to predict what can constitute hurdles for the

U.S trade strategies for Africa.

GROWING TERRORISM IN AFRICA

If Al Shabbab in Somalia, a terrorist group linked to al-Qaeda,

has been less active the past 5 years with the efforts of Somalia's established government and with great contribu-tion from the

U.S, the few attacks they launched in Kenya past November 2014, with a bus shelling near Nairobi shows that terrorism in Africa is far to be cleared

up. On thing is certain: Al-Qaeda group continues to spray its

tentacles in Mali, Libya and in Algeria. Another terrorist group active in Africa is the nebulous terrorist group Boko Haram in Nigeria, which

lingers to weaken the northern part of the country and neighboring Cameroon. With a secret agenda, Boko Haram is determined to defy Nigeria and the international community. After the adduction



of girls and boys, suicide booming in villages of the Northern Nigeria. November 2014 was deadly. On the 25th, two female suicide bombers killed at least 44 in Maiduguri, Northeast Nigeria and on the 28th of the same month, at least 120 were killed in a mosque suicide bombing near Kanu.

To increase their resources, Boko harem might be trying to copy the strategy of Islamic State of Syria (ISIS).They even claimed allegiance to ISIS ideology. However with a large oil reserve, a sector where the U.S giant Shell Company is present, Nigeria battle against Boko Haram is just beginning.

May 17, 2014 in Paris, French President Francois Hollande invited the African head president to host a summit against the Boko Harem; Hollande is now a bigger terror threat-- beyond Nigeria and even Africa. Strategies to fight Boko Haram have been laid down. But still the results are not palpable. As a matter of fact Boko Haram continues to hold keys parts of the

FOCUS

northern part of Nigeria. Containing this terrorist group in Nigeria continues to be a harsh and ongoing process; as long as no one can predict the end of this terrorists group.

France effort to combat terrorism in Africa is not an isolate effort, as United States Africa Commands, (U.S. AFRICOM) has been established and effective in 2007 in the continent. A response for the U.S government to deal with security issues in Africa. U.S AFRICOM has been effective for the last decades. With African nations, African Union, and African regional security organization, U.S. AFRICOM is responsible for all U.S. Department of Defense operations, exercises, and security cooperation on the African continent. AFRICOM operational since Oct. 1, 2007, and has successfully assisted African governments to guarantee their inter-nal security and borders from terrorism. Apart from Nigeria, in the past 3 years, other parts of the continent remain safe besides some sporadic uprising due to political instability.

COMPETITION FROM ASIA

Africa's relationship with the rest of the World has shift from help to partnership. China is the country that quickly integrates this strategy while dealing with Africa. Beijing has poured billions of investment to Africa. This move from China has changed all U.S investment calculation in the continent. France president in a speech given last month in France acknowledged that “Africa has changed,and so do France. “China’s Premier Li Keqiang toured Africa for the first time since he took office in 2013. Li visited Ethiopia, Nigeria, Angola, and Kenya, meeting with numerous heads of state to discuss the developing relationship between China and Africa. According to Li, between 2014 and 2020, trade between China and Africa will double, and


Chinese outward foreign direct investment (OFDI) stock (the total accumulated value of assets) to the continent will quadruple to $100 billion. This year, China has surpassed the United States and Europe as Africa's largest trading partner. Bilateral trade was around eleven billion US dollars in 2000 and reached 160 billion dollars in 2011. Mid-November, Jack Lew, U.S Treasury Department made a trade tour of Africa. He went in Egypt and Tanzania. In an interview granted to BBC at that occasion, he said what he worried the most was the sustainability of U.S investment in the continent. However, he added. The goal for the U.S was to be Africa best partner. U.S Africa Leaders Summit held in Washington last August, 2014, under the theme "Investing in the Next Generation “has led down the strategic of U.S investment in Africa. Apart from China, other countries like Canada, India, Brazil, Japan, Russian and the European Union block are in Africa for the same purpose. With this compe-tition, U.S long term vision will be making the difference.CORRUPTION

How to deal with corruption in Africa? That is the growing concern of the U.S. If some Chinese firms have been accused by some econo-mists in Africa of being very open to any bribes and corruption with some Africans officials, the U.S, on its side, wants to play a fair game in contracts negotiation in Africa. That is the goal and the aim of the Foreign Corrupt Practices Act of 1977 (FCPA), a United States federal law known primarily for two of its main provisions, one that addresses accounting transparency requirements under the Securities Exchange Act of 1934 and another concerning bribery of foreign officials. Is this law playing against U.S interests in Africa, where other countries are not willing to play by the same rules? For some

international trade experts on the continent, it is a dichotomy and disadvantageous at certain points for U.S firms competing with other players, in an environment where some dominos are already set up. For others, the act is justified. As Africa grows, there is an impera-tive to establish a good macroeconomic foundation because there is nowhere in the world that corruption has developed a country. After launching AGOA fourteen years ago, U.S continues to initiate several charming trade campaign in the continent. By understanding the dynamic of the trade taking place now in Africa, U.S will adapt to the new challenges. It takes only the right choice of path to get there. U.S. investors could blaze this path with enormous success, and without contentious trade distortions or threats to U.S. jobs. Getting them to do so requires only that the U.S. government make Africa legally safer for U.S. private investment initiatives.

INVESTMENT

Business With Africa, U.S Persists And SignsU.S Secretary of Commerce Penny Pritzker traveled to Atlanta, Georgia, this mi-November to emphasize the importance of helping U.S companies launch and increase their business in A�ica at the “Discover Global Markets: Sub-Saharan A�ica” Conference.

The event brought together

U.S. government officials,

visiting U.S commercial diplo-

mats posted at embassies throughout

Sub-Saharan Africa, international

business leaders, trade finance experts,

and others to help companies identify and develop trade and investment opportunities on the continent.

Secretary Pritzker reiterated America’s commitment to solving the Ebola crisis, while emphasizing that fears about the virus should not get in the way of the facts on the ground in Africa. She added that Ebola was confined to just three countries with a total popula-tion of roughly 21 million, while the entire African continent is home to 1.1 billion. For Pritzker, the world public health apparatus is actively engaged, and doctors, nurses, and medical workers are using the proper proto-cols to treat patients and slow the number of new cases. Efforts to eliminate the virus are starting to turn the corner, and growth of the disease is slowing in Liberia. Despite the challenges presented by Ebola, Africa presents tremendous long-term growth opportunities, and both the U.S government and the U.S private sector are committed to deepening economic and commercial engagement on the continent. Africa is home to six of the ten fastest-growing

economies in the world – Chad, Congo, the Ivory Coast, Mozambique, Ethiopia, and Sierra Leone. Real income has increased more than 30 percent, reversing two decades of decline, and GDP is expected to rise 6 percent each year over the next decade. By 2040, Africa will boast a larger workforce than either India or China.

The Discover Global Markets Forum served to increase economic and commercial engagement in Africa by helping compa-nies launch or increase their business on

the continent. The event also built on the success of the first-ever U.S Africa Business Forum, which the Department of Commerce co-hosted in August. This F orum b rought together hundreds of American and African chief executive officers with nearly every African head of state to spur more trade and investment between the United States and Africa. At this Forum, U.S firms announced more than $14 billion worth of investments throughout the continent.

Source Department of Commerce

BY GISCARD AYISSI

Photo/D.O.C President Obama with Secretary Pritzker, mayor Bloomberg


CHAMBER OF COMMERCE

American Business Council (ABC) Of Nigeria

At a general Meeting of U.S companies

doing business in Nigeria in May 2005,

the need for an American Business

Council (ABC) WAS UNANIMOUSLY

ENDORSED like a "think tank". For

members, ABC focus on policy issues and practical implementation steps in support of Nigerian public and private sector leadership as well as ongoing reform initia-tives in the country.

It is designed to bring ABC's Nigerian based resources combined with the U.S support, to bear on selected issues and reform initiatives that show potential for WIN/WIN results in Nigeria's quest for stable economic devel-opment. Furthermore, ABC envisioned to make a significant impact on the investment

environment and Nigeria's future economic development. The ABC, which is also an affiliate of the U.S Chamber of Commerce, was incorporated by the Nigerian Corporate Affairs Commission in February 2007 as a non-profit making company limited by guarantee.

It objectives are to promote the devel-opment of commerce and investments between the United States of America and the Federal Republic of Nigeria, to provide a forum in which American business executives in Nigeria and other business executives with American interests may identify, discuss, and pursue common interests affecting their activities. ABC is the liaison with the Chamber of Commerce of the United States and other

chambers of commerce and institutions pursuing similar objects and advocates the views of the American business community in Nigeria to public and private interests in the United States and Nigeria.

ABC goals are to create awareness of Nigeria's business and investment opportu-nities in the U.S and among the American business community in Nigeria, and to develop program for capacity building and human capital development in Nigeria.

ABC focuses on pilot projects such as infrastructure-power, transportation, seaports, roads and railways.

Source ABC

BUSINESS PRESS RELEASE

U.S. Secretary of Commerce Penny Pritzker

today announced the appointment of 15

private sector leaders to the newly estab-

lished President’s Advisory Council on Doing Business

in Africa (PAC-DBIA). PAC-DBIA members – representing

small, medium, and large companies from a variety of

industry sectors – were selected to advise the President, through the Secretary of Commerce, on strengthening commercial engagement between the United States and Africa.“U.S Government and private sector leaders see tremendous opportunity in Africa, and they want to seize it,” said U.S. Secretary of Commerce Penny Pritzker. “Africa is home to six of the 10 fastest-growing economies in the world, and the demand for U.S. goods and services on the continent is high. The President’s Advisory Council will be a critical part of our efforts to strengthen our trade and investment ties across Africa, so we can do more business together.”

�e diverse appointees of the President’s Advisory Council on Doing Business in Africa are:Walé Adeosun – Founder and Chief Investment Offi cer, Kuramo Capital ManagementDominic Barton – Global Managing Director, McKinsey & CompanyJ.P. Bilbrey – President and CEO, Th e Hershey CompanyShelley Broader – President and CEO, Walmart EMEATeresa Clarke – Chairman and CEO, Africa.comMelissa Cook – Founder and Managing Director, African Sunrise PartnersKaren Daniel – Chief Financial Offi cer, Board Member, and Leader of Africa Growth Initiative, Black & VeatchPeter Grauer – Chairman, Bloomberg LPJay Ireland – President and CEO, GE AfricaKevon Makell – President and CEO, SEWW EnergyEdward Mathias – Managing Director, Carlyle GroupMartin Richenhagen – Chairman, President, and CEO, AGCODavid Storch – Chairman and CEO, AAR CorporationDow Wilson – President and CEO, Varian Medical SystemsRahama Wright – Founder and Chief Executive Offi cer, Shea Yeleen

U.S. Secretary Of Commerce Appoints Advisory Council to Advance President's Business Priorities For Africa


How African economy deals with U.S sanctions on Russia

Z imbabwe's Pen East Investments

has teamed up with Afronet, a

consortium of three Russian

pa r t n e r s , t o f o r m G r e at D y k e

Investments, which is developing the

US$3 billion Darwendale platinum

project. At full development in 2024, the mine will produce 800,000oz platinum, pushing Zimbabwe's output over one million ounces, and creating 8,000 jobs. After a message of indignation by the Zimbabwe government, the project was put on hold. Same message was issued later to South Africa, and this time by the United Kingdom Prime Minister David Cameron, who rebuffed South Africa after Johannesburg announced it had entered into a $10 billion nuclear energy deal with Russia, ignoring US-EU sanctions against the country.

To Cameroon, Jacob Zuma, South African President, opposed by saying nobody is supposed to tell his country whom his friends are.

During his presidency, Dmitri Medvedev has worked tenaciously to warm up and set a new area for African and Russian relations. During a visit to South Africa in 2012, President Medvedev made a signifi-cant statement in this respect: “Nowadays, political dialogue, business affairs and humanitarian interaction between Russia and African states assume a new evolu-tion; it allows us to look to the future with optimism”. Meanwhile, in 2012 the context was different. Crimea was not invaded and Russian had no crunch with Ukraine.

Tension between the West, and Russian was not at time that predictable. Nevertheless, before what some international observers are calling the cold war resurrection,Russia has always been doing business in Africa Russian investment in the mining sector in Africa is considerable. More than 30Russian companies are already involved in developing Africannatural resources,and negotiating projects, and weapons sales. Most business transaction in Africa being done in Dollars. Some African countries’ currencies are tied to the U.S dollar, it is difficult for the countries in the continent to deal with the Russian rubble, a plunging currency in international trans-actions. Russian exports to Africa were $354 billion dollars in 2007.

It was projected to reach $900 billion in 2020. The export of engineering products was intent to increase more than 6 times and reach $110-130 billion dollars in 2014. But the situation has different facets since May 2014.According to some economists in the continent, Africa economy are not really tied or exposed to Russia. Here it seems

as Russia needs Africa and Africa needs Russia. During the Cold War, Russia was scrambling to get allies in Africa in order to stem western influence. But after the cold war, the situation has changed.

Russia needs Africa’s limitless resources to keep its economy growing and look for a strategic position to dilute western influence in Africa. But Russia's plan is facing fierce opposition from most of African countries whose economies are 80 percent tied to their former colonial power mostly members of the European Union. Meanwhile for now nobody can predict Russian's next plan.

One thing is sure, U.S sanctions against Russia are reshaping the Russia-Africa axe of coorperation. If in some African countries, Russian investment is going to pay the price of the sanctions, South Africa appears to be the gainer after Moscow announced that it's giving access to South African seafood exports to Russia. This opportunity will resume seafood exports to Russia for the first time in almost two decades.

In October 2014, the United States reportedly warned Zimbabwe about its growing economic deals with Russia a�er Harare recently sealed an agreement with Moscow for a US$3billion platinum mine.

BY GI

INVESTMENT


Country / Entity(sorted alphabetically)

Currency Name

Currency Code

In U.S Dollar ($ 1=)

ALGERIA Algerian Dinar DZD 83.3083 DZD

ANGOLA Kwanza AOA 8.8454 AOA

ARUBA Aruban Florin AWG 1.79000 AWG

BENIN CFA Franc BCEAO † XOF 515.066 XOF

BOTSWANA Pula BWP 9.10750 BWP

BURKINA FASO CFA Franc BCEAO † XOF 515.066 XOF

BURUNDI Burundi Franc BIF 1,555.00 BIF

CABO VERDE Cabo Verde Escudo CVE 1,555.00 BIF

CAMEROON CFA Franc BEAC ‡ XAF 515.001 XAFCENTRAL AFRICAN REPUBLIC

CFA Franc BEAC ‡ XAF 515.001XAF

CHAD CFA Franc BEAC ‡ XAF 515.001XAF

COMOROS Comoro Franc KMF 386.332 KMF

CONGO CFA Franc BEAC ‡ XAF 515.066 XOFCONGO, DEMOCRATIC REPUBLIC OF THE

Franc Congolais CDF 918.508 CDF

CÔTE D’IVOIRE CFA Franc BCEAO † XOF 515.066 XOF

DJIBOUTI Djibouti Franc DJF 180.838 DJF

EGYPT Egyptian Pound EGP 7.15243 EGPEQUATORIAL GUINEA

CFA Franc BEAC ‡ XAF 515.001XAF

ERITREA Nakfa ERN 10.4700 ERN

ETHIOPIA Ethiopian Birr ETB 20.0390 ETB

GABON CFA Franc BEAC ‡ XAF 515.001XAF

GAMBIA Dalasi GMD 41.3753 GMD

GHANA Ghana Cedi GHS 3.20749 GHS

GIBRALTAR Gibraltar Pound GIP 0.619938 GIP

GUINEA Guinea Franc GNF 0.619994 GIP

GUINEA-BISSAUGuinea-Bissau PesoCFA Franc BCEAO also accepted

GWP 0.619996 GIP

KENYA Kenyan Shilling KES 89.0290 KES

LESOTHOLoti South African Rand (ZAR) also accepted

LSL 11.0342 LSL

LIBERIA Liberian Dollar LRD 92.4999 LRD

LIBYA Libyan Dinar LYD 1.30525 LYD

Country / Entity(sorted alphabetically)

Currency Name

Currency Code

In U.S Dollar ($ 1=)

MADAGASCAR Malagasy Ariary MGA 2,687.00 MGA

MALAWI Kwacha MWK 433.824 MWK

MALI CFA Franc BCEAO † XOF 515.066 XOF

MAURITANIA Ouguiya MRO 290.910 MRO

MAURITIUS Mauritius Rupee MUR 31.4399 MUR

MOROCCO Moroccan Dirham MAD 8.71074 MAD

MOZAMBIQUE Mozambique Metical

MZN 31.2629 MZN

NAMIBIANamibia Dollar South African Rand (ZAR) also accepted

NAD 11.0345 NAD

NIGER CFA Franc BCEAO † XOF 515.066 XOF

NIGERIA Naira NGN 165.540 NGN

RWANDA Rwanda Franc RWF 686.000 RWFSAO TOME AND PRINCIPE

Dobra STD 13.6858 SCR

SENEGAL CFA Franc BCEAO † XOF 515.066 XOF

SEYCHELLES Seychelles Rupee SCR 13.6858 SCR

SIERRA LEONE Leone SLL 4,348.39 SLL

SOMALIA Somali Shilling SOS 824.967 SOS

SOUTH AFRICA Rand ZAR 11.0351 ZAR

SOUTH SUDAN South Sudanese Pound

SSP 5.69630 SDG

SUDAN Sudanese Pound SDG 5.69630 SDG

SWAZILAND Lilangeni SZL 11.0327 SZLTANZANIA, UNITED REPUBLIC OF

Tanzanian Shilling TZS 1,695.49 TZS

TOGO CFA Franc BCEAO † XOF 515.066 XOF

TUNISIA Tunisian Dinar TND 1.79497 TND

UGANDA Uganda Shilling UGX 6,370.00 ZMK

ZAMBIA Kwacha ZMK 6,370.00 ZMK

ZIMBABWE Zimbabwe Dollar ZWD 361.900 ZWD

Source: International Standards Organization. �is currency list table data was last updated Nov 2014

AFRICAN CURRENCIES VERSUS U.S

CURRENCY SNAPSHOT


TRAVEL/TOURISM

E B OL ARecovery from


For instance, in 2013, the continent saw

international arrivals increase 5% over

2012, the equivalent of 3 million more

tourists, to reach 56 million based on data

released by the World Tourism Organization

(WTO) statistics in 2013. Though no figures

have been released on the overall impact Ebola has had on African tourism, in the first half of 2014, the industry has been experiencing impressive growth rates.

According to the WTO 2014 global travel report, Africa was due to see 4 to 6% tourism growth this year. But the Ebola outbreak resulted in a lot of cancellation in flight bookings. In Africa already, the panic pushed some states in the continent to close their borders to the traveler from East African countries affected by the Ebola virus. Botswana, for instance, reportedly suspended entry for travelers in mid-2014. In the last 6 months, the number of people visited Liberia, Guinea, Nigeria and Sierra has dropped dramatically. With few cases registered in mid-No-vember in Mali, there is a sense that the situation is

far from over. In Tanzania, all major border posts have mandatory health screening in place, including all international airports. South Africa refuses to admit foreign citizens arriving from Ebola-affected countries in West Africa early end October, while South African citizens were allowed to re-enter, but only after being subject to strict screening.

From Port Louis, Mauritius to Dakar in Senegal, almost 5000 miles distance apart and from Lagos, Nigeria to Durban, South Africa, a distance of more than 2000 miles, the waves of Ebola and its effect on tourism can be felt.

A global trade association

that promotes travel and tourism to the African tourism industry, Africa Travel Association (ATA) has witnessed

economic losses that resulted from massive flight cancellations low or even long day of inexistence booking to Africa.

The recovery in tourism industry will be slow. But with a vast tourism potential, African countries are laying down strategies to mitigate the loss and to let visitors understand that only three out of 54 states are concerned with Ebola.

Images: 1.Lagos,Nigeria2.Durban, SouthAfrica3.St Louis,Mauritius

Africa's Tourism Industry

Since,THE Ebola outbreak in Guinea, Liberia, and Sierra Leone, Africa, a continent always viewed abroad as one country, has its destination hit hard. Tourism, in the 54 states con-tinent, with thousands of local languages, represents a source of income and a neural-gic sector for many African countries.

E B OL ARecovery from

BY GERALD NATHALIE


TRADE AGENDA

E-PPP - PUBLIC PRIVATE PARTNERSHIP AFRICA 2014When: January 17-18, 2015Where: Abidjan Ivory CoastRegistration:districtabidjan.org

Urban Equipment &Engineering Investors-African PPP (Public Private Partnership) Conference Trade Public once a year

Afro Food 2015Date: December 3-11, 2014 Where: Cairo, Egyptregister: afrofood.net E-Mail: info@ afrofood.net.

Particpants: 20,000 visitors are coming from Egypt, Tunisia, Morocco, Sudan, Algeria, South Africa, Kenya, Senegal, Tanzania, Kuwait, Saudi Arabia, Bahrain, Syria, Lebanon, Libya, Jordan, France, Germany, Greece, Italy and Turkey.

Select USA Investment SummitWhen: March 23-24, 2015Where: at the Gaylord National Resort and Convention Center in National Harbor, Maryland, in the Washington, DC met-ro area.

MGTA SEMINAR: Harmonized System Product Classi� cation and Workshop12/11/2014When: Dec 11, 2014. 8:00 a.m. to 4:15 p.m.

Where: 3M Innovation Center. 2350 Minnehaha Ave E. Maplewood, Minnesota 55119 United States

Offshore West Africa 2015When: January 20-22 2015Where: LAGOS Nigeria

Over 1,200 visitors regularly attend Offshore West Africa. The 19th annual conference and exhibition provide visitors with a wide range of market leading products and services. The exhibi-tion will also present visitors with a whole host of network-ing opportunities

Registration and general Summit [email protected]

+1-800-315-4333 toll free

(M-F 9:00 am - 6:00 pm EST) or

+1-785-841-8194 M-F 9:00 am - 6:00 pm EST)

+1-785-841-2668 fax


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