Africa Archive

  • This facility will help address critical market demand for trade finance in Africa TUNIS, Tunisia, May 23, 2013/ — The Board of Directors of the African Development Bank (AfDB) (http://www.afdb.org) approved on Tuesday, May 22, a USD 100 million unfunded Risk Participation Agreement (RPA) between the AfDB and Commerzbank AG under which the two banks will share the default risk on a portfolio of qualifying trade transactions originated by issuing banks in Africa and confirmed by Commerzbank AG. This facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. It will foster financial sector development, regional integration, and increase government revenue generation ultimately improving Africa’s sustainable economic growth. The majority of African banks have small capital bases which constrain their ability to obtain adequate trade limits from international confirming banks and to undertake sizeable […]

    AfDB Approves a USD 100 million Risk Participation Agreement with Commerzbank AG to Boost Trade Finance in Africa

    This facility will help address critical market demand for trade finance in Africa TUNIS, Tunisia, May 23, 2013/ — The Board of Directors of the African Development Bank (AfDB) (http://www.afdb.org) approved on Tuesday, May 22, a USD 100 million unfunded Risk Participation Agreement (RPA) between the AfDB and Commerzbank AG under which the two banks will share the default risk on a portfolio of qualifying trade transactions originated by issuing banks in Africa and confirmed by Commerzbank AG. This facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. It will foster financial sector development, regional integration, and increase government revenue generation ultimately improving Africa’s sustainable economic growth. The majority of African banks have small capital bases which constrain their ability to obtain adequate trade limits from international confirming banks and to undertake sizeable […]

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  • As successive editions of the African Economic Outlook have shown, Africa’s rate of growth has outperformed the global rate over the last decade. Yet high growth is not sufficient to guarantee productive employment for all. Large sections of the population, and particularly the young, can be left behind and become frustrated. In the absence of a political process allowing them to express their views and produce policy changes, instability can result, as it did last year in a number of North African countries. This is an opportune time to reset the policy agenda of African governments towards an inclusive, employment-creating and sustainable growth strategy, aimed particularly at addressing the special needs of the young. Africa has the world’s youngest population and it is growing rapidly. Hundreds of millions of young Africans will be leaving school over the next decades, at every level, and looking for jobs. The challenges and obstacles […]

    Promoting Youth Employment in Africa

    As successive editions of the African Economic Outlook have shown, Africa’s rate of growth has outperformed the global rate over the last decade. Yet high growth is not sufficient to guarantee productive employment for all. Large sections of the population, and particularly the young, can be left behind and become frustrated. In the absence of a political process allowing them to express their views and produce policy changes, instability can result, as it did last year in a number of North African countries. This is an opportune time to reset the policy agenda of African governments towards an inclusive, employment-creating and sustainable growth strategy, aimed particularly at addressing the special needs of the young. Africa has the world’s youngest population and it is growing rapidly. Hundreds of millions of young Africans will be leaving school over the next decades, at every level, and looking for jobs. The challenges and obstacles […]

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  • The concept of ‘Green Growth’ is one which has understandable political currency, highlighted by its prominence in this year’s ‘Rio+20’ meeting hosted by the United Nations Conference on Sustainable Development. In promising to reconcile the goals of low-carbon and sustainable development with other valued outcomes such as job creation, poverty reduction and economic growth, it appears to offer a win-win solution for confronting the growing threat of climate change. This is the tenor of many recent reports on the concept, such as the Organization for Economic Cooperation and Development’s Towards Green Growth (2011) or the United Nations Environment Programme’s Towards a Green Economy: Pathways to Sustainable Development and Poverty Eradication-A Synthesis for Policymakers (Danielle Resnick and James Thurlow, UNU-WIDER, 2011) http://www.wider.unu.edu/publications/newsletter/articles-2012/en_GB/06-07-2012-green-growth/

    Green Growth: A Win-Win Approach to Sustainable Development?

    The concept of ‘Green Growth’ is one which has understandable political currency, highlighted by its prominence in this year’s ‘Rio+20’ meeting hosted by the United Nations Conference on Sustainable Development. In promising to reconcile the goals of low-carbon and sustainable development with other valued outcomes such as job creation, poverty reduction and economic growth, it appears to offer a win-win solution for confronting the growing threat of climate change. This is the tenor of many recent reports on the concept, such as the Organization for Economic Cooperation and Development’s Towards Green Growth (2011) or the United Nations Environment Programme’s Towards a Green Economy: Pathways to Sustainable Development and Poverty Eradication-A Synthesis for Policymakers (Danielle Resnick and James Thurlow, UNU-WIDER, 2011) http://www.wider.unu.edu/publications/newsletter/articles-2012/en_GB/06-07-2012-green-growth/

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  • Aid for Trade to Africa surpasses other regions, says ECA-led study ECA Press Release No. 90/2011 Web: http://www.uneca.org/ Addis Ababa, 21 June 2011 (ECA) – African trade experts from member State capitals and the Geneva-based African trade negotiators assembled on Tuesday in Geneva for a roundtable organized by the United Nations Economic Commission for Africa (ECA) in preparation for the 18-19 July, 3rd Global Aid for Trade (AfT) review. The aim of the Review will be to assess the impact of AfT on economic growth, trade creation and poverty reduction. According to the Information and Communication Service of the ECA, the day’s roundtable discussed a collaborative study prepared under the auspices of the African AfT Working Group. The Working Group comprised the African Development Bank, the ECA and the World Trade Organization (WTO). Speaking at the meeting, Stephen Karingi, Acting Director of the ECA Regional Integration and Trade Division said, […]

    Aid for Trade to Africa surpasses other regions, says ECA-led study

    Aid for Trade to Africa surpasses other regions, says ECA-led study ECA Press Release No. 90/2011 Web: http://www.uneca.org/ Addis Ababa, 21 June 2011 (ECA) – African trade experts from member State capitals and the Geneva-based African trade negotiators assembled on Tuesday in Geneva for a roundtable organized by the United Nations Economic Commission for Africa (ECA) in preparation for the 18-19 July, 3rd Global Aid for Trade (AfT) review. The aim of the Review will be to assess the impact of AfT on economic growth, trade creation and poverty reduction. According to the Information and Communication Service of the ECA, the day’s roundtable discussed a collaborative study prepared under the auspices of the African AfT Working Group. The Working Group comprised the African Development Bank, the ECA and the World Trade Organization (WTO). Speaking at the meeting, Stephen Karingi, Acting Director of the ECA Regional Integration and Trade Division said, […]

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  • With their low-carbon profile, rich natural assets and promising policy initiatives, the world’s 48 least developed countries are well-positioned to jump start the transition to a green economy, according to a new UN report released at the start of the Fourth UN Conference on Least Developed Countries (LDC-IV). Carla September reviews the report, titled Why a Green Economy Matters for the Least Developed Countries. http://www.world-economy-and-development.org/wearchiv/042ae69ee20b05812.php According to a new report released by the UN Conference on Trade and Development (UNCTAD), most of the investments taken in LDCs have not yet resulted in significant economic growth and job creation. ”Such investment has not tended to ‘fertilize’ LDC economies by leading to greater links between foreign businesses and local firms that can spread know-how and technology and help spur broad-based, long-term economic growth,” the body emphasised. In order to effectively address those countries’ economic potential, the international community should strengthen the ability […]

    LDCs set to jump start to a green economy

    With their low-carbon profile, rich natural assets and promising policy initiatives, the world’s 48 least developed countries are well-positioned to jump start the transition to a green economy, according to a new UN report released at the start of the Fourth UN Conference on Least Developed Countries (LDC-IV). Carla September reviews the report, titled Why a Green Economy Matters for the Least Developed Countries. http://www.world-economy-and-development.org/wearchiv/042ae69ee20b05812.php According to a new report released by the UN Conference on Trade and Development (UNCTAD), most of the investments taken in LDCs have not yet resulted in significant economic growth and job creation. ”Such investment has not tended to ‘fertilize’ LDC economies by leading to greater links between foreign businesses and local firms that can spread know-how and technology and help spur broad-based, long-term economic growth,” the body emphasised. In order to effectively address those countries’ economic potential, the international community should strengthen the ability […]

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  • To catch up and, more important, to meet its own development objectives, Africa needs to promote rapid industrialization that will promote innovation, technological adoption, entrepreneurship, high value added and employment-generating manufacturing. This will enable the continent to overcome the low contribution of industry and manufacturing to GDP and employment. The formulation and implementation of industrial policy will enable African governments to target particular activities or sectors for support. Each country will have to identify niche industries where it has competitive advantages or the capability to develop dynamic advantages. This in turn will contribute to Africa’s industrial development. However, unlike most countries in post-independence Africa, which thwarted the emergence of a capitalist class, the 21st century African developmental state has to vigorously attempt to build an indigenous capitalist class. Also, unlike the experiences of the 20th century developmental States elsewhere, industrialization in Africa in the 21st century will have to be […]

    Governing Development in Africa – Economic Report on Africa 2011 – Focused industrial policy

    To catch up and, more important, to meet its own development objectives, Africa needs to promote rapid industrialization that will promote innovation, technological adoption, entrepreneurship, high value added and employment-generating manufacturing. This will enable the continent to overcome the low contribution of industry and manufacturing to GDP and employment. The formulation and implementation of industrial policy will enable African governments to target particular activities or sectors for support. Each country will have to identify niche industries where it has competitive advantages or the capability to develop dynamic advantages. This in turn will contribute to Africa’s industrial development. However, unlike most countries in post-independence Africa, which thwarted the emergence of a capitalist class, the 21st century African developmental state has to vigorously attempt to build an indigenous capitalist class. Also, unlike the experiences of the 20th century developmental States elsewhere, industrialization in Africa in the 21st century will have to be […]

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  • Africa Platform for Development Effectiveness (APDev) | Inspiring Change. APDEv is an African-led and owned physical and virtual multi-stakeholder platform and organizing mechanism for mobilizing African policy makers and practitioners towards achieving sustainable development results. The Platform focuses on 3 inter-related themes of Aid Effectiveness and South-South Cooperation with Capacity Development as a core driver for development effectiveness (DE) fostering “knowledge and evidence-based innovation processes” which is one of the six cornerstones of the AU-NEPAD CDSF.

    Africa Platform for Development Effectiveness (APDev) | Inspiring Change

    Africa Platform for Development Effectiveness (APDev) | Inspiring Change. APDEv is an African-led and owned physical and virtual multi-stakeholder platform and organizing mechanism for mobilizing African policy makers and practitioners towards achieving sustainable development results. The Platform focuses on 3 inter-related themes of Aid Effectiveness and South-South Cooperation with Capacity Development as a core driver for development effectiveness (DE) fostering “knowledge and evidence-based innovation processes” which is one of the six cornerstones of the AU-NEPAD CDSF.

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  • EADI: EDC2020 Publication “Rising Powers and New Global Challenges” – Bonn Sustainability Portal. The challenges facing European development cooperation have changed substantially in recent years. Analysts and politicians have commented on the increasing influence of China in Africa and the challenges this poses for EU influence to the EU strategic and policy objectives. In fact, both China and India have expanded their development cooperation programmes in Africa and are using aid as a means to gain economic and political influence and access to strategic resources, above all energy resources. In doing so, they appear to challenge the aid principles agreed by the OECD Donor Assistance Committee (DAC). Because of China’s high-profile in Africa, much of the discussion about new donors has centred on China’s role as a new actor in development cooperation, and the differences between its approach to development cooperation and the DAC principles. But the challenge for EU […]

    EADI EDC2020 Publication: Rising Powers and New Global Challenges

    EADI: EDC2020 Publication “Rising Powers and New Global Challenges” – Bonn Sustainability Portal. The challenges facing European development cooperation have changed substantially in recent years. Analysts and politicians have commented on the increasing influence of China in Africa and the challenges this poses for EU influence to the EU strategic and policy objectives. In fact, both China and India have expanded their development cooperation programmes in Africa and are using aid as a means to gain economic and political influence and access to strategic resources, above all energy resources. In doing so, they appear to challenge the aid principles agreed by the OECD Donor Assistance Committee (DAC). Because of China’s high-profile in Africa, much of the discussion about new donors has centred on China’s role as a new actor in development cooperation, and the differences between its approach to development cooperation and the DAC principles. But the challenge for EU […]

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  • Aid to developing countries in 2010 will reach record levels in dollar terms after increasing by 35 per cent since 2004. But it will still be less than the world’s major aid donors promised five years ago at the Gleneagles and Millennium + 5 summits. Though a majority of countries will meet their commitments, the underperformance of several large donors means there will be a significant shortfall, according to a new OECD review. Africa, in particular, is likely to get only about USD 12 billion of the USD 25 billion increase envisaged at Gleneagles, due in large part to the underperformance of some European donors who give large shares of official development assistance (ODA) to Africa. Eckhard Deutscher, Chair of the DAC, noted that: ”Aid has increased strongly as 16 donors have honoured their commitments. But underperformance by the others, notably Austria, France, Germany, Greece, Italy, Japan, and Portugal, means […]

    Donors’ mixed aid performance for 2010 sparks concern

    Aid to developing countries in 2010 will reach record levels in dollar terms after increasing by 35 per cent since 2004. But it will still be less than the world’s major aid donors promised five years ago at the Gleneagles and Millennium + 5 summits. Though a majority of countries will meet their commitments, the underperformance of several large donors means there will be a significant shortfall, according to a new OECD review. Africa, in particular, is likely to get only about USD 12 billion of the USD 25 billion increase envisaged at Gleneagles, due in large part to the underperformance of some European donors who give large shares of official development assistance (ODA) to Africa. Eckhard Deutscher, Chair of the DAC, noted that: ”Aid has increased strongly as 16 donors have honoured their commitments. But underperformance by the others, notably Austria, France, Germany, Greece, Italy, Japan, and Portugal, means […]

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  • More than 50 Washington D.C.-based members of the African Diaspora participated in the launch of the 2008/2009 Africa Development Indicators (ADI) report . As this year’s ADI focuses on ‘‘Youth and Employment in Africa – The Potential, The Problem, The Promise”, the launch targeted Diaspora with an interest in youth development and promoting job creation in Africa. ‘‘The ADI launch in D.C. targets people who can really make a difference to Africa – the Diaspora,” said Shantayanan Devarajan, Chief Economist of the World Bank’s Africa Region, in his opening remarks. He further explained that data can be a good tool for accountability to help citizens hold leadership responsible for measurable results. http://tinyurl.com/d4s24k

    Diaspora to Promote Job Creation and Youth Development in Africa

    More than 50 Washington D.C.-based members of the African Diaspora participated in the launch of the 2008/2009 Africa Development Indicators (ADI) report . As this year’s ADI focuses on ‘‘Youth and Employment in Africa – The Potential, The Problem, The Promise”, the launch targeted Diaspora with an interest in youth development and promoting job creation in Africa. ‘‘The ADI launch in D.C. targets people who can really make a difference to Africa – the Diaspora,” said Shantayanan Devarajan, Chief Economist of the World Bank’s Africa Region, in his opening remarks. He further explained that data can be a good tool for accountability to help citizens hold leadership responsible for measurable results. http://tinyurl.com/d4s24k

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  • The objective of this year’s report is to examine Africa’s export performance after trade liberalization in order to draw relevant lessons that could be used to craft future trade and development strategies. The main message is that the efforts made by African countries in terms of trade liberalization over the last twenty-five years have removed most of the policy-induced barriers considered as the main impediments to these countries´ export performance. Though there has been some improvement in Africa’s export performance, the level and composition of the continent’s exports have not substantially improved. African countries have not diversified their exports towards more dynamic primary commodities and manufacturing goods, which are less prone to the vagaries of international markets. The Report proposes some policies that could help Africa to refocus its development priorities on structural transformation in order to increase the continent’s supply capacity and export response. These policy proposals are underscored […]

    UNCTAD: Economic Development in Africa 2008

    The objective of this year’s report is to examine Africa’s export performance after trade liberalization in order to draw relevant lessons that could be used to craft future trade and development strategies. The main message is that the efforts made by African countries in terms of trade liberalization over the last twenty-five years have removed most of the policy-induced barriers considered as the main impediments to these countries´ export performance. Though there has been some improvement in Africa’s export performance, the level and composition of the continent’s exports have not substantially improved. African countries have not diversified their exports towards more dynamic primary commodities and manufacturing goods, which are less prone to the vagaries of international markets. The Report proposes some policies that could help Africa to refocus its development priorities on structural transformation in order to increase the continent’s supply capacity and export response. These policy proposals are underscored […]

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  • The Economic Commission for Africa has released the second edition of its flagship publication, the Sustainable Development Report on Africa (SDRA). This edition of SDRA is devoted to a five-year review of the implementation of the World Summit on Sustainable Development Outcomes in Africa (WSSD+5). Several African countries have made progress in economic governance, public financial management and accountability and the integrity of the monetary and financial systems. As a result, the situation in Africa today is better than it was a decade or so ago. However, a great deal remains to be done. In the area of corporate governance, countries have made efforts to promote private sector-led growth and development. http://www.uneca.org/eca_resources/Publications/books/sdra/index.htm

    Sustainable Development Report on Africa (SDRA)

    The Economic Commission for Africa has released the second edition of its flagship publication, the Sustainable Development Report on Africa (SDRA). This edition of SDRA is devoted to a five-year review of the implementation of the World Summit on Sustainable Development Outcomes in Africa (WSSD+5). Several African countries have made progress in economic governance, public financial management and accountability and the integrity of the monetary and financial systems. As a result, the situation in Africa today is better than it was a decade or so ago. However, a great deal remains to be done. In the area of corporate governance, countries have made efforts to promote private sector-led growth and development. http://www.uneca.org/eca_resources/Publications/books/sdra/index.htm

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