CPAfrica http://www.cp-africa.com Celebrating Progress Africa #AfricaRising Fri, 18 Aug 2017 16:45:05 +0000 en-GB hourly 1 https://wordpress.org/?v=4.8.1 29978942 Libya: Crude Oil Production Stabilizes http://www.cp-africa.com/2017/08/18/libya-crude-oil-production-stabilizes/ http://www.cp-africa.com/2017/08/18/libya-crude-oil-production-stabilizes/#respond Fri, 18 Aug 2017 16:40:39 +0000 https://www.cp-africa.com/?p=55593 Libya is getting better at resolving stoppages in its oil industry, underpinning a growing perception that the Organization of Petroleum Exporting Countries (OPEC) member is closer to becoming a stable[...]

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Libya is getting better at resolving stoppages in its oil industry, underpinning a growing perception that the Organization of Petroleum Exporting Countries (OPEC) member is closer to becoming a stable producer again. This is because of the duration of incidents. 



While in prior years protests could shutter fields for months and years, now the stoppages are being resolved within days and barely hindering flows. Sharara, Libya’s biggest field, had several short disruptions this year, including two this month, after being closed for more than two years. Mustafa Sanalla, chairman of state-run National Oil Corp., was quick to visit Sharara to resolve the latest dispute, offering to revise security measures.




Libya is reviving its oil production and exports in spite of continuing political uncertainty. In July, crude production was at a four-year high and exports were the most in three years, according to data compiled by Bloomberg. While the expansion has helped Libya’s oil-dependent economy, the OPEC is trying to cut global supplies. That effort has been undermined by recovering output at OPEC members Libya and Nigeria.

The country pumped 1.6 million barrels a day before a 2011 revolt set off years of fighting between rival governments and militias. Workers at the Zueitina export terminal said recently they would not load tankers until their demands were met, including getting 20 months of back pay, union head Merhi Abridan said recently. The port reopened this week when workers were told their demands will be met, he said.

Under Sanalla’s tenure which started in May 2014, Libya has signed contracts with international companies, ended a blockade of ports, restarted exports and reopened fields, including Sharara in December following two years of closure. Oil production was at 250,000 barrels a day when he took over. In July, output was 1.02 million barrels a day, according to data compiled by Bloomberg.


Sharara Oil field, Libya


Libya’s output will be about 1.2 million barrels a day by the end of the year “if everything goes well,” said Derek Brower, managing director of research at Petroleum Policy Intelligence, a U.K.-based consulting company.



Bloomberg 

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6 Reasons why China’s African-Biz Policy Should be via Mauritius  http://www.cp-africa.com/2017/08/18/6-reasons-why-chinas-african-biz-policy-should-be-via-mauritius/ http://www.cp-africa.com/2017/08/18/6-reasons-why-chinas-african-biz-policy-should-be-via-mauritius/#respond Fri, 18 Aug 2017 16:24:23 +0000 https://www.cp-africa.com/?p=55590 The data published by the Mauritius central bank and central statistics bureau in April shows that in 2016 China is the second largest foreign investor in (US$70 million, following US$128[...]

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The data published by the Mauritius central bank and central statistics bureau in April shows that in 2016 China is the second largest foreign investor in (US$70 million, following US$128 million from France) and the largest exporter to (17.7%) Mauritius.

Mauritius

As investors consider investment in and trade with Africa, they need to structure the project and transaction from tax, legal and commercial perspectives. Mauritius is one of the most favorable destinations as the regional center for Chinese investment to Africa. These are 6 points to consuder:

  1. Mauritius has been selected by many foreign investors as the tax haven to invest in China. Some Chinese companies have established their operation headquarters for Africa in Mauritius–such as CAD Fund, Huawei and Shanxi Tianli Enterprise Group, which is expected to set a model for the other Chinese investors to follow.

  2. Tax planning should be one of the significant elements when Chinese investors are considering an ODI decision. Mauritius has concluded 50 Double Taxation Agreements (DTAs) with other countries, 43 of which are in force, and seven are waiting for ratification. There are another five DTAs waiting for execution, and 18 DTAs are under negotiation. 29 African countries are the parties to these DTAs. Utilizing the DTAs in force are states like Egypt, Zambia, the Republic of Congo, Botswana, Madagascar, Uganda and Zimbabwe; Chinese investors may have tax savings of 10.5% for dividends from Congo and of 30% for capital gains from Uganda.

  3. Domestically, Mauritius has a unique hybrid of French and English legal systems providing a stable legal and regulatory framework for foreign investors. There is no foreign exchange control, and funds can be remitted in and out of Mauritius without any hindrances from the government and the financial institutions. Free movement of money may not be realized in most African countries, which continuously worries foreign investors.

  4. Moreover, Mauritius has concluded 45 Investment Promotion and Protection Agreements (IPPAs) with other countries, 23 of which are with African countries. For those African countries which have not concluded Bilateral Investment Treaties (BIT) with China, such as Burundi, Zambia and Senegal, Mauritius is highly recommended in the shortlist of holding companies’ destination for African investment.

  5. Under the African Growth and Opportunity Act (AGOA), Mauritius is one of the eligible countries to enjoy duty-free for approx. 6500 kinds of products to enter the United States, if such product is eligible under the Generalized System of Preferences (GSP) or Normal Trade Relations (NTR), known formerly as Most Favored Nations (MFN). This will give option to Chinese manufacturers on those antidumping and countervailing duty investigations frequently brought by the US Department of Commerce.

  6. Mauritius signed the Economic Partnership Agreement (EPA) with the European Union in 2009. The EPA includes the elimination of duties and quotas for imports from these countries to the EU, and rules of origin, fisheries, trade defense, development cooperation provisions and mechanisms for settling disputes.


China


Therefore, through Mauritius, Chinese investors will have more opportunities to extend their business to the US and EU with well-designed structure. Mauritius, as an island in the Indian Ocean, can not only be the gate for investment and trade between China and African countries, but also the hub for Chinese investors to step up at the international platform.

jdsupra

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Dangote desires Arsenal FC http://www.cp-africa.com/2017/08/18/dangote-desires-arsenal-fc/ http://www.cp-africa.com/2017/08/18/dangote-desires-arsenal-fc/#respond Fri, 18 Aug 2017 15:53:37 +0000 https://www.cp-africa.com/?p=55586 Commodities billionaire Aliko Dangote, the richest man in Africa according to Forbes, wants to buy Arsenal and sack long-reigning manager Arsène Wenger. Dangote has a net worth of $12.5 billion[...]

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Commodities billionaire Aliko Dangote, the richest man in Africa according to Forbes, wants to buy Arsenal and sack long-reigning manager Arsène Wenger. Dangote has a net worth of $12.5 billion (£9.7 billion) and owns Dangote Group, a multinational conglomerate currently constructing an $11 billion (£8.5 billion) oil refinery in Nigeria’s capital, Abuja.



Once the refinery is built, Dangote wants to takeover Arsenal, according to a recent interview. The Nigerian believes majority shareholder Stan Kroenke, who has a 67.05% stake in the club, and Alisher Usmanov, who owns 30.04% of the club, can be convinced to sell.




“If they get the right offer, I’m sure they would walk away. Someone will give them an offer that will make them seriously consider walking away. And when we finish the refinery, I think we will be in a position to do that,” Dangote said.




If his takeover bid was successful, he would fire Wenger immediately. “The first thing I would change is the coach,” Dangote said. Wenger has led the Gunners to three Premier League titles and seven FA Cup trophies, but fans are divided over whether he is the right man to take the team forward.


Dangote says Wenger “has done a good job,” but believes “someone else should try his luck.”


Aliko Dangote

Kroenke resisted a takeover offer in May when Arsenal’s second-largest investor, Usmanov, tested Kroenke with a $1.3 billion (£1 billion) bid. The approach valued the club at $2 billion (£1.55 billion). Arsenal is worth $1.9 billion (£1.5 billion), according to Forbes.

bizinsider

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Africa gets US AGOA commitment http://www.cp-africa.com/2017/08/18/africa-gets-us-agoa-commitment/ http://www.cp-africa.com/2017/08/18/africa-gets-us-agoa-commitment/#respond Fri, 18 Aug 2017 15:10:58 +0000 https://www.cp-africa.com/?p=55581 The United States and Africa can jointly create a better business environment and chart a path towards a stronger and more sustainable trade relationship, US Trade Representative (USTR) Robert Lighthizer[...]

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The United States and Africa can jointly create a better business environment and chart a path towards a stronger and more sustainable trade relationship, US Trade Representative (USTR) Robert Lighthizer recently told the 16th forum of the Africa Growth and Opportunity Act (AGOA) in Togo’s capital Lome. “The United States is committed to Africa,” he said. 


The annual forum brings together senior government officials, business leaders, and civil society actors from the United States and 38 sub-Saharan Africa nations to discuss ways to boost trade and maximize the effectiveness of the AGOA program, which has been the foundation of US-Africa trade ties since 2000.





The theme of the 2017 was ‘The United States and Africa: partnering for prosperity through trade’, according to a press release from the US Embassy in Lome. The event was attended by about 1,000 delegates.




Key topics discussed were the role of regional integration and transportation infrastructure in developing competitive supply chains, tools for maximizing the returns on infrastructure investments, models for increasing agricultural productivity and scaling up agri-business investments for agriculture, and the role of small and medium enterprises, especially those led by women, in driving economic growth.



fibre2fashion


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South Africa: Mpumalanga Digital Centre Empowering Women in Tech http://www.cp-africa.com/2017/08/18/south-africa-mpumalanga-digital-centre-empowering-women-in-tech/ http://www.cp-africa.com/2017/08/18/south-africa-mpumalanga-digital-centre-empowering-women-in-tech/#respond Fri, 18 Aug 2017 13:33:28 +0000 https://www.cp-africa.com/?p=55573 The IT industry is in a unique position to rapidly change the roles of women in the workplace and society – as new technology-enabled learning, employment and business opportunities emerge[...]

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The IT industry is in a unique position to rapidly change the roles of women in the workplace and society – as new technology-enabled learning, employment and business opportunities emerge in the digital era.


Suddenly, one’s location becomes less important, as women in rural areas gain more opportunities to empower themselves. With technology, the ‘location’ issue: “where women are excluded from business due to where they live” could be solved.



The T-Systems Digital Learning Centre in Hazyview, Mpumalanga, for instance, handles up to 300 child or adult learners at any time – a vast majority being women and girl children, plugging into a world of online opportunities and developing the skills that could change the destinies of thousands of families in the region’s surrounding areas. Many other local technology companies have developed similar initiatives, and as more and more corporates see the potential of technology-led community development initiatives.



Within the IT sector, being a historically a male-dominated field, not enough young girls are choosing technology as their path into a brighter future. As an industry, much haven’t been done (when compared, for example, with the Engineering industry) to attract girls into the field.



Women in leadership positions within the ICT industry have a responsibility to attract the next generation of female innovators, to become role models that aspiring girls can look towards and want to emulate. By interacting with women that have progressed in this industry, new horizons open-up, as our girls’ creativity and vision meets with technology opportunity.



But while attracting young girls to the technology industry may not be easy, it’s certainly possible. In the T-Systems ICT Academy, close to half of the over 2000 learners that have graduated through the programme are female. An expansive majority of these are now working within the sector, rising through the ranks, and slowing changing the gender imbalance.


A graduand receiving her award


All across the continent, the innovations that technology is creating are designed to solve uniquely-African problems – from Agriculture to Healthcare, from Energy to Telecoms – and every other industry in between.

itnewsafrica

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Ghana: Low-cost IVF Technique records 1st Birth http://www.cp-africa.com/2017/08/18/ghana-low-cost-ivf-technique-records-1st-birth/ http://www.cp-africa.com/2017/08/18/ghana-low-cost-ivf-technique-records-1st-birth/#respond Fri, 18 Aug 2017 13:18:13 +0000 https://www.cp-africa.com/?p=55569 A rare type of in-vitro fertilisation (IVF) called The Walking Egg (TWE) technology has been used to produce a baby in Ghana. The healthy 3.3-kilogramme baby boy was delivered last[...]

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A rare type of in-vitro fertilisation (IVF) called The Walking Egg (TWE) technology has been used to produce a baby in Ghana. The healthy 3.3-kilogramme baby boy was delivered last week after using the low cost alternative of the expensive IVF methods available.

Belgian fertility specialist Professor Dr. Willem Ombelet


The parents of the baby were childless for eight years and had been unsuccessful with the technology twice. This third successful attempt at a hospital in the capital Accra, made Ghana the first country in Africa to produce a baby through this technology.




The Walking Egg technology is another artificial fertility method that enables the fertilisation of the sperm and egg outside the human body for about two to five days. The fertilised egg is then placed back into the womb for the natural gestation period.




This technology was developed in 2014 by Belgian fertility specialist Professor Dr. Willem Ombelet and his team of fertility experts at the Genk Institute for Fertility Technology in Belgium. The professor’s aim for developing this revolutionary technology was to help couples with fertility issues in developing countries where resources are unavailable. So far, 89 healthy babies have been born using the method in Belgium, the Netherlands and Germany.




The Walking Egg technology was introduced in Ghana in 2015 after a fertility conference. Currently, the second African baby from this technology will soon be born by another Ghanaian woman who is 7 months pregnant.


The Walking Egg technology costs less than one-third, the cost of a conventional IVF.





africanews

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Africa’s Job Sourcing Market gets a new Addition  http://www.cp-africa.com/2017/08/18/african-job-sourcing-market-gets-a-new-addition/ http://www.cp-africa.com/2017/08/18/african-job-sourcing-market-gets-a-new-addition/#respond Fri, 18 Aug 2017 13:04:52 +0000 https://www.cp-africa.com/?p=55563 Digital publishers, One Africa Media, has set up The African Talent Company (TATC), a new company that’ll ease job recruitments across African borders. The new company is an attempt to[...]

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Digital publishers, One Africa Media, has set up The African Talent Company (TATC), a new company that’ll ease job recruitments across African borders. The new company is an attempt to cover more grounds for hiring and consultations across the African continent.


Alongside Jobberman and Brighter Monday, also owned by the digital giant, TATC will offer African employers more in the areas of recruiting the best candidates for jobs. This is so, for there are many companies in Africa who face a lot of hardship in getting to the best candidates from other African countries. TATC will ease the burden these companies have to go through during a hiring process by finding the right skill and talent that they need from where they need it from on the continent.



Jobberman and Brighter Monday already cover East, West and Southern Africa, so it’s easier for TATC to help its clients find candidates across the continent.



According to Lekan Olude, Jobberman co-founder and partner for TATC, “Just because we were structured as a job website there were engagements that we couldn’t deliver so we decided to setup this company known as TATC. TATC is that company that gives clients the opportunity to be able to hire in any African country.”




The TATC portal has a combined 10 million profiles and over 1 billion data points of candidates across Africa. The company also provides “exhaustive related data researches from salary surveys to manpower migration”.



pulseng

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Alibaba’s African Young Entrepreneurs Fund Launched  http://www.cp-africa.com/2017/08/18/alibabas-african-young-entrepreneurs-fund-launched/ http://www.cp-africa.com/2017/08/18/alibabas-african-young-entrepreneurs-fund-launched/#respond Fri, 18 Aug 2017 12:03:03 +0000 https://www.cp-africa.com/?p=55559 This week, Ma, a Chinese business magnate who is the founder and executive chairman of Alibaba Group, a family of Internet-based businesses, launched the African Young Entrepreneurs Fund worth $10 million. It has[...]

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This week, Ma, a Chinese business magnate who is the founder and executive chairman of Alibaba Group, a family of Internet-based businesses, launched the African Young Entrepreneurs Fund worth $10 million. It has been further revealed that he plans to also roll out a partnership with African universities to teach internet technology, artificial intelligence and e-commerce. He announced the creation of a African Young Entrepreneurs Fund, during the Youth Connekt Africa Summit co-hosted by UNCTAD and the Government of Rwanda last week.


Ma said that he would also work with UNCTAD to help bring 200 budding African businesspeople to his homeland China to learn from Alibaba hands on. “I want them to go to China, meeting our people, seeing all the things we have been doing, all the great ideas China has,” he said. “They know what they want. And when they know what they want, we can support it,” Ma further remarked.


UNCTAD is working with Ma to explore opportunities with African businesses to participate in global trade. As well as to raise awareness of the 2030 Agenda for Sustainable Development. Which was adopted by the international community in 2015. In addition, to his role as an adviser to UNCTAD. Ma also serves as a UN Sustainable Development Goals Advocate.


Ma also pointed to the big implications for economies and the labour market. He continued, “I think e-commerce, internet, big data is the future. You can never stop it. You like it or don’t like it. But you will never stop it. Every time you have a technological revolution, it will kill a lot of jobs and it will create a lot of jobs. This is what history tells us.”


Ma emphasized on the importance of his plan to roll out a partnership with African universities to teach internet technology, artificial intelligence and e-commerce. He has been sharing his experience of having built his company, founded in 1999, into a global e-commerce giant valued at more than $231bn. And how he met the string of challenges that he faced along the way.




The Youth Connekt Africa Summit which held in Kigali, Rwanda brought together more than 1,500 participants from government, entrepreneurial and investor communities, multinationals, and startups shaping the African technological ecosystem.  Unlocking Africa’s e-commerce is a key priority for UNCTAD, given the potential of online trade to power development.

news24

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