Secretary Blinken and AU Commission Chairperson Discuss Strengthened Partnership at High-Level Dialogue
U.S. Secretary of State Antony J. Blinken on Wednesday held discussions with African Union Commission Chairperson Moussa Faki Mahamat in Washington, D.C., to inaugurate the Ninth Annual U.S.-AU Commission High-Level Dialogue. The meeting reaffirmed the robust partnership between the United States and the African Union (AU) and covered a range of critical issues that impact the African continent and the world. Strengthening African Representation and G20 MembershipDuring the meeting, Secretary Blinken reiterated the United States’ commitment to bolstering African representation in international organizations. Shared Commitment to Democratic Transitions and Global PrioritiesSecretary Blinken and Chairperson Faki expressed a shared commitment to supporting sustainable democratic transitions across Africa. African Union’s Agenda 2063The leaders emphasized their dedication to collaborating on shared priorities outlined in the African Union’s Agenda 2063.
Source:The North Africa Journal
November 02, 2023 12:13 UTC
President Biden Stresses Strong Support for AGOA Reauthorization
President Joe Biden on Wednesday expressed strong support for the reauthorization of the African Growth and Opportunity Act (AGOA), a pivotal bipartisan law that has been a cornerstone of U.S. trade relations with sub-Saharan Africa for over two decades. The benefits are felt on both sides of the Atlantic: AGOA fosters a more competitive environment for U.S. businesses operating in sub-Saharan Africa. Its primary focus is to facilitate discussions on strengthening trade and investment ties between the United States and sub-Saharan Africa. However, with AGOA’s current legislation set to expire in 2025, the 20th AGOA Forum takes on added importance. The benefits are mutual, as AGOA also creates a more competitive environment for U.S. businesses operating in sub-Saharan Africa.
Source:The North Africa Journal
November 02, 2023 12:08 UTC
PE investment in Africa down 16% YoY in Q3 2023
Finance(Ecofin Agency) - Private equity investors played it safe in the third quarter of 2023, as macroeconomic uncertainties persist in the global market. This amount, which is down 16% compared to the same period in 2022, brought the total PE investment on the continent in the first nine months of 2023 to $3.3 billion. The "Private Capital Activity in Africa Q3 2023: A quarter in review" report links this slowdown to enduring global macroeconomic uncertainties. Consequently, many private equity firms played it safe and adopted a more cautious approach, opting for smaller investment commitments. The report also reveals that managers of funds dedicated to Africa raised a total of $3 billion in the first nine months of 2023.
Source:The North Africa Journal
November 02, 2023 12:00 UTC
Sporting Club Casablanca – On a mission of affirmation
Sporting Club Casablanca Casablanca, hailing from Morocco, secured their place in this prestigious tournament, proving their dominance in the Union of North African Football Federation (UNAF) region championship qualifiers. Sporting Club Casablanca emerges as one of the promising contenders in the CAF Women's Champions League, backed by their outstanding performance in the Union of North African Football Federation region championship qualifiers. Sporting Club Casablanca's strong presence in the regional qualifiers positions them as formidable contenders for the Champions League title. Group Stage Fixtures:05 November 2023: Athletico Abidjan vs Sports Club Casablanca | 17:00 GMT - Korhogo08 November 2023: Mamelodi Sundowns vs Sports Club Casablanca | 20:00 GMT - Korhogo11 November 2023: Sports Club Casablanca vs JKT Queens | 20:00 GMT - San PedroKey Figures:Head Coach: Mehdi El QuichoriMehdi El Quichori is the tactical mastermind behind Sports Club Casablanca's strategy and recent successes. Key player: Chaymaa MourtajiChaymaa Mourtaji will need to be in her best form if Sports Club Casablanca are to excel at the CAF Women's Champions League.
Source:The North Africa Journal
November 02, 2023 11:58 UTC
Israel Risks a Pyrrhic Victory Over Hamas
Kamran Bokhari, PhD is the Senior Director, Eurasian Security & Prosperity Portfolio at the New Lines Institute for Strategy & Policy in Washington, DC. Dr. Bokhari is also a national security and foreign policy specialist at the University of Ottawa’s Professional Development Institute. He has served as the Coordinator for Central Asia Studies at the U.S. Department of State’s Foreign Service Institute. Follow him on Twitter at @KamranBokhari
Source:The North Africa Journal
November 02, 2023 11:32 UTC
Reforming electricity sector and public procurement in SA
He is of the opinion though that the electricity sector is undergoing “enormously positive transformation” that affects not only the utility but the entire system. Of referenceLeveraging PPPs for regional transmission lines“We are establishing an Infrastructure Finance and Implementation Support Agency that will systematically address the need to crowd-in private sector finance and expertise into the public infrastructure programme. Of interestGuide to implementing BESS projects through PPPsChanging public procurement methodsThe newly tabled Public Procurement Bill seeks to create a single regulatory public procurement framework which will empower procuring institutions to base their procurement systems on uniform norms and standards. The Public Procurement Bill has gone through an extensive consultation process and considers recommendations of the Zondo Commission. “Sixteen public procuring institutions are involved, together with civil society organisations, the private sector and labour.
Source:The North Africa Journal
November 02, 2023 10:24 UTC
WTCA
Under the ‘Drivers of Progress’ theme, the Forum showcased how WTC businesses are forging ahead to bolster economic growth on a local and global scaleThe World Trade Centers Association® (WTCA®), an international trade organization connecting more than 300 World Trade Center® (WTC®) locations in nearly 100 countries, fueled its ambitious “Road to 500” initiative at its 2023 WTCA Member Forum, held October 15-17 in New York City. Highlights from this year’s Member Forum included the launch of the WTCA Francophone initiative, binding French-speaking WTCA Members worldwide; the relaunch of the Biennial WTCA Champions Awards; riveting panel discussions on the future of global trade and the transformative potential of AI; best practices on how WTCA Members can expand their businesses and how they can play an active role within the Association via the Member Advisory Councils and Regional Advisory Councils; and charted priorities for the WTCA’s North American region. The Member Forum also marked the official countdown to the highly anticipated 54th annual WTCA Global Business Forum (GBF), which will be hosted by WTC Bengaluru on March 3-6, 2024. With the theme of “Empowering Progress through Innovation & Collaboration,” next year’s event aims to showcase the economic potential in India, particularly Karnataka, which has been called the “Silicon Valley of India.”“Under the banner of ‘Drivers of Progress,’ the 2023 WTCA Member Forum was an astounding showcase of ambition, innovation and the unwavering commitment to progress to shape the Association’s future,” said John E. Drew, WTCA Chair, Board of Directors. “This is evident in the way we bring together diverse cultures, all sharing a belief in global trade and prosperity.
Source:The North Africa Journal
November 02, 2023 10:13 UTC
Tunisian fintech startup My Easy Transfer raises $420k funding
Tunisian fintech startup My Easy Transfer, which facilitates secure diaspora funds transfers, has raised EUR400,000 (US$$420,000) funding to help speed its growth and expand its offering. Founded by brothers Ismaïl and Jabrane Khenissi in March 2022, My Easy Transfer is a remittances platform bridging Europe and Tunisia that has so far reached 10,000 customers. My Easy Transfer also plans to evolve its model to become the first payment super app for the diaspora, strengthening its presence in Tunisia through new partnerships and also expanding to new markets in Africa, such as Morocco, Mali, and Senegal. “We want to offer every Tunisian living abroad the possibility of managing all their financial transactions to Tunisia from their smartphone with our platform,” said Ismail Khenissi. “My Easy Transfer represents immense potential, capable of transforming the financial transfer landscape and offering faster and more economical solutions for users,” said Dhekra Khelifi, partner at 216 Capital.
Source:The North Africa Journal
November 02, 2023 09:22 UTC
Women More Likely to Have Obesity in Lower-Income Countries
TOPLINE:Women are 2-3 times more likely than men to have obesity in low- and middle-income countries, with the disparity as much as 10 times higher among women in the sub-Saharan region of Africa. Three hundred of the studies reported data on obesity in women and men in low- and middle-income countries. TAKEAWAY:Overall, the odds of obesity were 2.7-fold higher among women than men (odds ratio [OR] 2.72). The lowest differences between gender in terms of obesity odds were observed in studies from South Asia (OR, 1.43) and East Asia and Pacific (OR, 1.43). Causal relationships between obesity, type 2 diabetes, and hypertension could not be established because the study did not control for the timing of the diseases.
Source:The North Africa Journal
November 02, 2023 09:18 UTC
The Wagner Group’s Web in Libya
Russia has developed a complex network of influence in Libya through the Wagner group and will likely keep using private military actors to maintain its leverage. The two men reportedly discussed the future role of the Wagner Private Military Company in the country, and more broadly, on the African continent. Moscow needs the Wagner group not only for strategic reasons, but primarily for economic ones. Russian Foreign Minister Sergei Lavrov took the first step toward assimilating Wagner into the Russian military shortly after the attempted mutiny by Prigozhin and his men in June. Mr. Lavrov stated that the Wagner group would continue to operate in the Central African Republic, Mali and Burkina Faso, as well as in Libya.
Source:The North Africa Journal
November 02, 2023 09:08 UTC
Hikma adjusts expectations amid injectables challenges
Hikma Pharmaceuticals reported solid global growth in its injectables business on Thursday, with strong customer demand for its product portfolio in North America, although some challenges meant it expected revenue and operating margin growth at the lower end of guidance. Hikma said it was committed to expanding its injectables business through substantial investments. In the branded sector, Hikma saw strong demand, particularly for medicines used to treat chronic illnesses in key MENA markets. Finally, in the generics business, Hikma said it was having a successful year due to favourable market dynamics in its base business and stronger-than-expected revenue from its authorised generic of sodium oxybate. As a result, Hikma said it now expected 2023 revenue to fall within the range of $920m to $940m, with a core operating margin of around 20%.
Source:The North Africa Journal
November 02, 2023 09:00 UTC
Italy bracing for flood risks in north, heatwaves in south
Rome, Nov 2 (IANS) Italy has been bracing for the latest round of extreme weather, with heavy rains and potential flooding forecast for large parts of central and northern Italy. Orange alerts have been issued across large parts of northwestern and central Italy, including Milan, Xinhua news agency reported. The coming thunderstorms are likely to spark floods that could close roads, interrupt commercial and passenger sea transport, and damage crops. In the south, October saw unseasonal high temperatures surpassing 35 degrees Celsius on multiple occasions. Italian agricultural union Coldiretti said earlier this week that the high temperatures in August and the predicted thunderstorms were bad news for the agricultural sector.
Source:The North Africa Journal
November 02, 2023 08:55 UTC
Agility Logistics Park Abidjan earns IFC Green Building status
Agility announced that the warehouses at its Agility Logistics Park in Abidjan are the first in Cote d’Ivoire and West Africa to receive EDGE Advanced certification as green buildings. Agility received EDGE Advanced certification for the current 27,000 SQM of warehousing at its Abidjan park. The Abidjan facility is the second Agility warehouse to receive EDGE Advanced certification. Tenants at Agility Logistics Parks include international and local businesses in the retail, consumer goods, technology, automotive, energy and e-commerce sectors. The growing network of Agility warehouse parks are aligned with the significant opportunities being created by the AfCFTA to improve and expand trade both regionally and internationally.”
Source:The North Africa Journal
November 02, 2023 07:46 UTC
25 Middle Eastern and North African artists join forces to create song for Palestine
A collective of 25 artists from the Middle East and North Africa have collaborated to produce a song titled ‘Rajieen,’ with the proceeds earmarked for the Palestinian Children’s Relief Fund. The song serves as a moving tribute to the courage of the Palestinian people while also imploring Arab leaders to support them. The music video skillfully interweaves real-life footage depicting Palestine under Israeli occupation and scenes of the artists within a dimly lit studio, all dressed in black. The song poignantly highlights the challenges faced by the Palestinian people, who often struggle to voice their grievances and lead normal lives. Towards the conclusion of the music video, the artists pay tribute to journalists and photojournalists in Palestine and Gaza, recognizing their essential role in documenting the ongoing situation.
Source:The North Africa Journal
November 02, 2023 00:16 UTC