Djibouti Opens New Port as Part of $7 bln/year Free-Trade Zone Plan

dj-mapDjibouti has formally opened one of four new ports designed to cement the tiny Horn of Africa nation’s position as a continental hub, a statement from the ports authority said on Wednesday.

Doraleh Multipurpose Port has been substantially upgraded as part of a Chinese-backed plan to establish Africa’s largest free-trade zone that can handle $7 billion of goods a year.

“The port of Djibouti is a gateway to one of the fastest growing regions of the world with 30,000 ships transiting the port each year,” the statement said.

“Located on two of the three busiest shipping routes in the world, the port provides a strategic platform for maritime activity connecting Asia, Africa, and Europe.”

Tiny Djibouti, with a population of 876,000, has long punched above its weight. It hosts large U.S. and French naval bases; China is also building a naval base. Djibouti also handles roughly 95 percent of the inbound trade for neighbouring Ethiopia, population 99 million.

Doraleh’s bulk terminal can handle 2 million tons of cargo a year, and offers space to store 100,000 tons of fertilizer, 100,000 tons of grain, and warehouses for other goods.

The break bulk terminal can handle 6 million tons of cargo annually, the statement said, and there are 40,000 slots for vehicles at the RO-RO terminal.

Two other ports designed to export salt and potash will open next month.

Djibouti mainly handles goods from Asia, representing nearly 60 percent of traffic, the statement said. In 2015, overall traffic to Djibouti increased 20 percent to 5.7 million tonnes.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
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China’s Sinoma to build $1 bln cement plant in Tanzania

China’s state-run Sinoma International Engineering Co. will start work in May to build a $1 billion cement factory in Tanzania, the East African country’s prime minister’s office said.

The cement factory to be built on the Tanzanian coastal town of Tanga will primarily target export markets in neighbouring Democratic Republic of the Congo (DRC), Uganda and Sudan.

“About 70 per cent of the cement output will be exported, with the remaining 30 per cent to be sold in the domestic market,” the prime minister’s office said in a statement late on Tuesday.

“The company will also build a wharf (at the Tanga port) to facilitate export of cement from the plant.”

The statement did not give details of the estimated capacity of the proposed factory.

Prime Minister Kassim Majaliwa held talks on Tuesday with the president of China National Building Materials Group Corp (CNBM), the Asian country’s biggest construction materials producer, to discuss the project.

Cement makers present in Tanzania include Dangote Cement, a unit of Nigeria’s Dangote Cement, Kenya’s ARM Cement and subsidiary plants of Germany’s Heidelberg Cement AG, Afrisam Mauritius Investment Holdings Limited and France’s Lafarge SA.

Tanzania produces around 7 million tonnes of cement a year, with demand seen growing at close to 10 per cent per annum, according to government estimates.

Cement consumption is viewed as a gauge of construction activity, one of the main drivers of economic growth in the country.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
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For Any / All Other Queries :
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Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

China Announces Ban on Ivory Trade by End of 2017

african-elephant-heard-bw

China will ban all domestic ivory trade and processing by the end of 2017, a move described by activists as a potential “game changer” for African elephants.

African ivory is highly sought after in China, where it is seen as a status symbol, and prices can reach as high as $1,100 a kg.

“China will gradually stop the processing and sales of ivories for commercial purposes by the end of 2017,” the official Xinhua news agency said on Friday, citing a government statement.

The announcement follows China’s move in March this year [2016 red.] to widen a ban on imports of all ivory and ivory products acquired before 1975 after pressure to restrict a trade that sees thousands of elephants slaughtered every year.

Xinhua said the complete ban would affect “34 processing enterprises and 143 designated trading venues, with dozens to be closed by the end of March 2017”.

“This is great news that will shut down the world’s largest market for elephant ivory,” Aili Kang, executive director of the Wildlife Conservation Society in Asia, said in a statement.

“I am very proud of my country for showing this leadership that will help ensure that elephants have a fighting chance to beat extinction. This is a game changer for Africa’s elephants.”

Conservationists estimate that more than 20,000 elephants were killed for their ivory last year, with similar tolls in previous years.

The WWF campaign group says 415,000 of the animals remain.

The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), which took effect in 1975, banned ivory trade in 1989.

Like other countries, China permits the resale of ivory bought before the ban, and also has a stockpile purchased with CITES approval in 2008, which it releases for sale with certification.

WWF also praised China’s move to a complete ban but called on the Chinese territory of Hong Kong to bring forward a plan to end its ivory trade by 2021.

“With China’s market closed, Hong Kong can become a preferred market for traffickers to launder illegal ivory under cover of the legal ivory trade,” said Cheryl Lo, senior wildlife crime officer at WWF.

Originally reported by Al Jazeera.

Note: An Al Jazeera undercover team penetrated the network of dealers, agents and traffickers who profit from the multi-million dollar trade in Rhino horn. An illegal business that is decimating the Rhino population close to the point of extinction – a video on the investigation published on November 12, 2016 can be viewed here.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

How Haidar el Ali Became one of Africa’s Best-Known Environmentalists

Haidar el Ali started out in his family’s furniture business but then dedicated his life to protecting the oceans and other habitats.

At 25 years old, Haidar el Ali had a vision that changed his life.

Like most Lebanese in Senegal, Mr. Ali came from an entrepreneurial family. It had several furniture stores and workshops spread across Dakar’s densely packed Médina neighborhood. Every morning at 7 o’clock, Ali would join his father for a quick cup of coffee and chat before they started work. But one morning, while crossing the street, Ali had a moment he can only describe as “mystical.”

“Suddenly I saw myself sitting in my dad’s place waiting for my own son. My entire life as a businessman flashed before my eyes,” he explains. “By the time I reached my dad, I told him I needed to change my life. The next day I quit. Everyone was asking what happened to me, but honestly, I didn’t know.”

It wasn’t until a couple of years later that Ali understood. He had always been drawn to nature. It wasn’t unheard-of for him to spend weeks on end in the forest, away from the consumerism attending urban life back in Dakar. So Ali made a decision. He turned his passion for the environment into a vocation for life.

To some, his next steps might not seem to make sense: He got trained as a professional scuba diving instructor in France, and shortly thereafter he opened a diving company in Dakar. But as Ali describes it, the move makes perfect sense.

“What I really wanted to do was speak out against how we were destroying our ocean,” he says. “Fishermen were, at this time, still using explosives to catch their food, and I started to film what I was seeing underwater – how the natural ecosystems were being destroyed and degraded by human activity. I took these images to villages and then to the media, which ended up getting a lot of attention. This ultimately gave me the courage to follow my dreams.”

Ali’s parents were immigrants from Lebanon who “got stuck” in this small West African country en route to the United States in the 1930s, and it took them some time to understand why their son would abandon a life of security and comfort. But Ali says he was simply being true to himself.

And he has become one of Africa’s best-known environmentalists, holding several notable positions. He has been indispensable to the work of Oceanium, an environmental nongovernmental organization based in Dakar that he joined in 1985. Almost three decades later, from 2012 to 2014, Ali served in Senegal’s government, as minister of environment and then as minister of fisheries. He also heads the country’s Green Party (FEDES).

Ali is passionate when talking about the planet, raising the alarm about its future.

“Our environment is being attacked. And it’s so easy to kill, because trees don’t cry and branches don’t fall on traffickers,” says Ali, who is now in his 60s. “Unfortunately for us, we are headed towards a place of no return. Time is not on our side.”

Of course, he has not sat idly by. In addition to trying to protect the underwater world, he has also taken up land management and reforestation projects, which he has done with Oceanium. Ali served as the organization’s president for several years, and he is now an honorary member.

The Challenges For Forests

Senegal’s forests have faced multiple challenges. Severe droughts hit the country in the 1970s and ’80s, and the rise in urbanization cleared thousands of acres of trees. Mangroves – one of the richest ecosystems in the world – have been especially affected.

Approximately 133,000 acres of mangroves disappeared in Senegal between 1980 and 2005, according to a study by the United Nations’ Food and Agriculture Organization. The study estimates that as of 2005, about 284,000 acres were left, mostly in the country’s lush and tropical southern Casamance region. These tidal shrublike trees help deter land erosion; provide homes to numerous fish, mollusks, and crabs; and have carbon-sequestering capabilities greater than those of rainforests.

To help fight against mangrove degradation, Ali, through Oceanium, organized massive replanting efforts with hundreds of villages in Casamance, where he is now based. This region is the greenest part of Senegal and was once referred to as the country’s breadbasket, but it’s been far from immune from environmental problems.

Between 2006 and 2012, countless villagers helped replant about 35,000 acres in Casamance, and another 2,500 or so acres were replanted elsewhere in Senegal. It’s one of the largest mangrove replanting efforts in the world.

Ali has worked with coordinators spread across the country who help organize seed distribution among residents.

“Before Haidar came, we didn’t have nearly the number of fish or birds that we do now,” says Aliou Badiane, a planting coordinator with Ali since 2008 who’s based in a Casamance village with no running water or electricity. “The hardest part [for us] is collecting seeds, but now we have a planting system in place that’s saving us.”

Denouncing Loggers

Ali and his network have also devoted attention to a forest restoration project to protect rosewood trees. They’re denouncing the loggers who are illegally transporting these trunks into neighboring Gambia, where they’re shipped to China. As a result of the scrutiny, tree-cutters are not able to cut as much wood, which has driven up the cost of it. A year ago, a 6-1/2-foot trunk sold for 10,000 CFA francs ($17). Today, the same size runs 10 times that price.

“The increase in the selling price proves we are making their work harder,” says Ali, who says forest rangers alert the network two or three times a day about any environmental threats they witness. “Just today, for example, I got an alert of some 5,000 tree trunks found. I’ll first send some other people over to look; then I will go back myself. If this is verified, I’ll call the press to denounce it.”

According to Ali, politicians might say they’re against illegal logging, but on the ground nothing ever changes. “The government is quick to say they encourage me [in my work], but it ends there,” he says. “In my mind it’s never a question of means. It’s one of human determination and will.”

“Haidar is a man of his word,” attests Jean-Michel Kornprobst, professor emeritus of science at the University of Nantes in France, who established Oceanium in 1984, a year before Ali joined. “He has never used his environmental efforts – for which he is so strongly physically and intellectually-linked – for his own personal gain…. [He] is fundamentally honest and is genuinely fighting for future generations…,” says Professor Kornprobst, who commented via email.

Going the Extra Mile

Ali’s tree planting is fueled today as much by personal conviction as by the desire to ensure that the trees, butterflies, and fish are around for “his greatest successes” – his two youngest children, ages 1 and 3. And not only does Ali practice what he preaches, but he also goes the extra mile to compel others to follow suit.

“I’m someone who can’t tell people to plant trees if I’m not doing it myself,” he says. “In my tree nursery [just outside Casamance’s capital city, Ziguinchor], I planted some 20,000 trees of all different types – from mahogany and rosewood to orange, grapefruit, avocado, and palmyra palms. And when I travel from Dakar to Ziguinchor [about 280 miles], I take the car just so that I can personally give out seeds in every village I go through. It’s a fastidious job, but it works.”

According to Ali, Senegal can be a role model for the rest of the region, and even the world, on how people can fight to preserve a natural way of life.

“I’m an optimist because I believe in humanity and the force of humans to react,” he says. “I believe in a nonviolent citizen revolution that is aware of our power to change things and is aware of our potential as the solution. And I see this movement taking hold a bit all over the world. People are starting to become more aware that having a love for all that is living is primordial for the survival of humanity.”

Originally reported by the Christian Science Monitor.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Interpol arrests alleged ringleader of £45m scamming network

A Nigerian man accused of being the ringleader of an online fraud network that scammed more than $60m (£45m) from companies around the world has been arrested after months of investigation, Interpol said.

The 40-year-old, known only as Mike, was arrested in June along with a 38-year-old in the Nigerian oil capital of Port Harcourt.

He is accused of scamming hundreds of victims and running a network of at least 40 people working from Nigeria, Malaysia and South Africa.

The man is also said to have money-laundering contacts in China, Europe and the US, who provided bank account details for the illicit cash flow.

“In one case, a target was conned into paying out $15.4m,” Interpol said. “The network compromised email accounts of small to medium businesses around the world including Australia, Canada, India, Malaysia, Romania, South Africa, Thailand and the United States.”

The scams included a supplier’s email being compromised and fake messages sent to a buyer with instructions for payment to a bank account under the network’s control, or the email account of a high-level executive being taken over and a request for a wire transfer sent to an employee responsible for handling such requests.

Noboru Nakatani, the executive director of the Interpol Global Complex for Innovation, said such crime “poses a significant and growing threat, with tens of thousands of companies victimised in recent years”. The public, and especially businesses, he added, needed to be alert to this type of cyber-enabled fraud.

The arrest was carried out with the support of Nigeria’s anti-fraud agency, the Economic and Financial Crimes Commission (EFCC).

“Following his arrest in Port Harcourt in southern Nigeria, a forensic examination of devices seized by the EFCC showed he [the suspect] had been involved in a range of criminal activities, including business email compromise and romance scams,” Interpol said.

The suspects face charges including hacking, conspiracy and obtaining money under false pretences. They are on bail pending further investigation.

Originally reported by The Guardian.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all security matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable security advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Ethiopia: Chinese Company to Produce 40 Billion Gallon Gas – Professional Business Consultancy by CWIIL Group

A Chinese company engaged in natural gas exploration with a capital of five billion USD in Ethiopia is expected to produce 40 billion gallon gas after three years.

President Dr Mulatu Teshome held talks with Chinese Poly Technology Company Vice President Huang Geming at the National Palace yesterday.

President Mulatu said the relationship between Ethiopia and China would help attract more huge companies into Ethiopia.

The people-to-people, party-to-party as well as government-to-government relations are very strong and Chinese companies have been contributing a great deal to the rapid economic growth of Ethiopia, the president noted.

President Mulatu appreciated the company for also engaging in construction, mineral exploration and other investment sectors, including power, in Ethiopia.

The Company Vice President said on his part Ethiopia and China are very friendly countries.

A pipeline that connects Ogaden to port of Djibouti is under construction to export the gas to Europe and others nations, he said.

These materials are not intended and should not be used as legal / investment advice or other recommendation. If you need a legal / investment opinion on a specific issue or factual situation, please contact a lawyer / investment advisor. Anyone using these materials should not rely on them as a substitute for legal / investment advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries or to Request a Personal Quote Feel Free to Contact :

Mr. Francis Thomas Matthews,
Deputy Global Director, No. 8
Marketing Research & Development Division,
Email : deputy.gd.8@cwiilgroup.eu
Voice : +45.8176.1924
Connect : LinkedIn I Twitter I Facebook I Tumblr

For Queries Specific to Africa :
Email: africa@cwiilgroup.comhq@cwiilgroup.eu
Web: www.cwiilgroup.comwww.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Can Africa Fund Its Own Growth? – Investment Advice From CWIIL Group

Despite witnessing exceptional growth in development finance in recent years, Africa is still faced with the arduous task of mobilizing adequate resources to fund its growth and future transformation agenda. Given the paucity of external development assistance, and low commodity prices for its goods and services, Africa has awakened to the fact that it must rely on its own financial resources for sustainable development.

One of the leading pan-African bodies, the United Nations Economic Commission for Africa (ECA), says infrastructure development in Africa has the potential to raise gross domestic product (GDP) by 2% and develop the backbone for rapid industrialization, which in turn could boost the capacity of the continent to generate more domestic resources.

In its Innovative Financing for the Economic Transformation of Africa report, published in March 2015, ECA reckons that Africa’s current infrastructure needs stand at a whopping $93 billion annually, out of which $45 billion is mobilised, leaving an annual deficit of almost $50 billion.

Thus, as Côte d’Ivoire’s President Alassane Ouattara aptly put it, Africa’s greatest challenge is ensuring that its transformation is bolstered by sufficient and innovative sources of funding.

“One solution would be to speed up the development of our financial markets with a view to sparking the transformation of African economies,” President Ouattara told the Ninth African Development Forum in Morocco last year. “To do so, we must come up with innovative financial products and set up effective national and regional financial institutions and services.”

While Africa is fully cognizant of the significant strides it has made since the Monterrey Consensus in March 2002 in mobilizing financial and technical resources for development, it contends that there is a huge gap.

“Current policy, financing and investment patterns are not delivering the future we want. There are enormous unmet financing needs for sustainable development. Estimates vary due to the complexities of quantifying needs, but consistently point to a significant financing shortfall,” African heads of state and governments affirmed in a zero draft of the outcome document of the Third Financing for Development (FfD) Conference, held  in Addis Ababa, Ethiopia, in July.

What Are The Options?

Development analysts say Africa has realized that traditional sources of development finance, such as official development assistance and foreign direct investment, which have buoyed the continent’s development efforts over the years, are not sustainable and cannot be relied upon as its main sources of funding, as was shown during the 2007–2008 global financial crisis.

Oswell Binha, president of the Association of SADC (Southern African Development Community) Chambers of Commerce and Industry, says Africa can create a $2 trillion dollar economy if it can simplify rules that govern trade and domestic investment. “When you look at the thread of World Trade Organisation and economic partnership discussions around the continent, Africa has realised that intra-Africa trade is a serious opportunity from which to raise internal resources,” Binha told Africa Renewal.

Mateus Magala, African Development Bank (AfDB) resident representative in Zimbabwe, says Africa has the greatest investment potential of all frontier markets globally.

“These include sovereign wealth funds, pension funds, foreign reserves and remittances, among others. In addition, the continent has substantial natural resources and countries with extractive industries can tap into this important source of revenue,” Magala said in an interview with Africa Renewal.

He noted that with political determination and leadership to create appropriate governance mechanisms, Africa’s extractive revenues could drive the continent’s transformation by enabling it to invest in competitiveness, diversification and efficient and sustainable use of resources.

At an African Group Perspective Conference on FfD in March, stakeholders said they were committed to funding sustainable development by mobilizing domestic resources, clamping down on corruption and illicit financial flows (IFFs) and addressing issues surrounding good governance.

“To finance its development priorities, Africa has developed a financing framework that prioritises domestic resource mobilization and trade as main sources of financing structural transformation and sustainable development, with a focus on infrastructure, human capital and sustainable agriculture, which is essential for achieving African Sustainable Development Goals [SDGs],” Adam Elhiraika, the director of macroeconomic policy at the ECA, said at a recent regional meeting in Addis Ababa.

ECA says Africa’s resource potential is enormous. The continent can support, develop and implement viable domestic finance instruments such as financial flows from securitizing remittances, earnings from minerals and mineral fuels, international reserves held by central banks and the growing marketplace for private equity funds.

This is bolstered by evidence from the New Partnership for Africa’s Development (NEPAD) and other sources, which show that African countries raise more than $527.3 billion annually from domestic taxes, compared to $73.7 billion received in private flows and $51.4 billion in official development assistance.

Mr. Magala says $550 billion can be raised from official foreign reserves, $200 billion from pension funds, $150 billion from sovereign wealth funds, $50 billion from foreign direct investments, $60 billion from remittances and $20 trillion from monetizing natural resources.

Domestic Savings

Carbon-finance mechanisms can also be explored in greater depth for the implementation of some of the continent’s projects. A number of African countries are considering carbon taxation as a form of mobilizing additional financial resources and tackling the challenges posed by climate change.

However, the ECA says that compared to domestic savings in other developing regions, those in Africa remain low largely due to an unbanked population, though the potential exists if the informal sector’s resources are tapped and the sector is given incentives to use formal banking services. Africa’s savings-to-GDP was about 22% between 2005 and 2010, compared to 46% in East Asia and the Pacific and 30% for middle-income countries.

Mr. Binha says African governments should also foster an environment for high-level public-private sector consultations, considering that the private sector has so far played a limited role in implementing Africa’s development. “Engaging with the private sector genuinely increases investments internally and also becomes an effective means of attracting external investment. There is no rapport between governments and the private sector. There is a them-and-us syndrome,” notes Mr. Binha.

The ECA estimates the private equity market in Africa to be worth about $30 billion. In 2011 alone, private equity firms raised $1.5 billion for business in Africa.

Reducing The Cost Of Remittances

While remittances have increased, averaging $21.8 billion over the past decade, with countries such as Nigeria and Senegal receiving about 10% of their GDP in remittances, experts say the cost of sending remittances to Africa has remained the highest in the world, with the cost of transfers within Africa even higher. For remittances to have an impact, they must be made cheaper and used effectively to spur development.

Sometimes tough anti–money laundering laws and counter-surveillance regulations meant to combat financial terrorism can stifle remittances, thereby negating the continent’s progress. This recently happened when US banks plugged remittance services to Somalia.

Curtailing IFFs remains a major challenge that Africa must vigorously undertake. Such outflows from Africa may have been as high as $854 billion between 1970 and 2008, which amounts to an annual average of close to $22 billion in lost finances – more than half of it coming from the extractive industries sector. The domestic resource mobilization effort will receive a significant boost if IFFs from the continent are curtailed.

Several policy options have been suggested to stem the flows, such as raising awareness and sharing best practices among African policymakers and other stakeholders on the magnitude and development impact of the IFFs.

Some of the key initiatives taken so far include African Union finance ministers’ setting up the High Level Panel on Illicit Financial Flows from Africa, and the establishment of regional initiatives such as the African Regional Anti-Corruption Programme (2011–2016) and the African Tax Administrative Forum (ATAF).

Mr. Binha says Africa’s biggest challenges are confidence, the unfavourable policy matrix, the rigidities of domestic trade and intra-trade and differences across nations. “Confidence is a huge deterrent to attracting sustainable, dependable and credible internal investment. African states have to create a dashboard around which there is proper governance, accountability and dependability with investors. The potential is there, but Africa has to first clearly define its priorities in Agenda 2063, their cost and the mechanisms to meet them,” added Mr. Binha. Agenda 2063 is the African Union’s economic development blueprint for the 50 years following 2013, when it was adopted.

Maintaining Growth

According to the World Bank, to raise enough funds from domestic sources, Africa will need to grow at a rate of 5% of GDP for the next two decades. The bank forecasts that economic growth for African countries will slow to 4.0% in 2015 from 4.5% in 2014, a downturn that largely reflects the sharp fall in global prices for oil and other key commodities.

The World Bank’s chief economist, Francisco Ferreira, told African finance ministers and central banks chiefs during a recent spring (April) meeting in Washington, DC, that the forecast was below the 4.4% average annual growth rate of the past two decades and well short of Africa’s peak growth rates of 6.4% in 2002–2008. Although the boom is over, Ferreira noted, the “Africa Rising” phenomenon predated the boom and should be able to outlive it.

Innovative domestic financing mechanisms such as Africa50, launched by the AfDB last year, are therefore expected to lead or complement other external resources and new financing forces like the BRICS countries (Brazil, Russia, India, China and South Africa) to achieve Africa’s ambitious development needs.

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