AVCA recently organised a round table on the role of gender in private investments with leaders drawn from top institutional investors and development finance institutions(DFIs), as well as global and local private equity firms as it explored the role played by different gender in pooling resources for investments in Africa. The event’s proceedings were chaired by Michelle Kathryn Essomé, Chief Executive Officer, AVCA, who highlighted that gender was becoming an increasingly important priority for the Association’s members. Read more. Source| The Exchange
The African continent is set for a major shift in Private Equity investment trends after a major announcement was made in Nairobi this week. During the 16th annual African Private Equity and Venture Capital Association (AVCA) conference, fund managers from around the globe, mainly the US and European markets said they are ready to deploy up to US$1 trillion for investment in the continent. This is through PE funds, a move that now places the continent at a strategic position to tap into the funds for investments in various areas. Read more. Source | The Exchange
Rwandan President Paul Kagame said while opening the Africa CEO Forum at the Kigali Convention Center in Rwanda that 21 countries had ratified the Continental Free Trade Area. Ethiopia last week took the agreement through Parliament, becoming the 21st country to do so. For the trade deal that would create a market of $3 trillion and a market of 1.2 billion people with no tariff and border restrictions to be enforceable, 22 countries are required to ratify. The deal was negotiated over two years before being signed in Kigali last year. Read more. Source| The East African
The 7th edition of the Africa CEO Forum has officially opened in Kigali Rwanda with business leaders and trade experts calling for more reforms to make the continent more attractive to investments.The forum, which is arguably the continent’s largest international meeting of Africa’s private sector, has brought together more than 1,800 CEOs from top companies, international investors, experts and high-level policy makers from the continent and beyond. Read more. Source | EA Business Weekly
The 52nd session of the Economic Commission for Africa’s (ECA) Conference of African Ministers of Finance, Planning and Economic Development, will be held in Marrakech, Morocco, next week under the theme; Fiscal policy, trade and the private sector in the digital era: A strategy for Africa.The March 20-26 conference, according to organisers, will provide an opportunity for the African ministers to examine the fiscal policies necessary for the implementation of the African Continental Free Trade Area (AfCFTA). Read more. Source | New Times
Africa’s banking, investments and asset management industry is currently dominated by private institutional players and government pension and insurance bodies. These players dominate capital flows in the financial markets. They drive liquidity and they set the direction of overall investments and asset management climate. This is not sustainable and does not necessarily fully optimize available resources and strengths of our open society, at least not in the long-run. Read more. Source | New Times
The Extraordinary Summit on the African Continental Free Trade Area (AfCTFA) that took place in Kigali, Rwanda last year brought together African leaders during which the agreement for establishing the free trade area was presented for signatures. The agreement was signed by 44 of the 55 African Union (AU) member states adding another 5 during the AU summit in Mauritania in June bringing the total number of committed countries to 49 by the end of July 2018. The Continental Free Trade Area (CTFA), will unleash Africa’s potential assembling a population of 1.2 billion people, with a GDP of $3.4 trillion as the world’s largest free trade area since the inception of the World Trade Organisation (WTO). Read more. Source | The Eaxchange
After a slowdown in recent years, Africa is experiencing an uptick in growth. East and West Africa are leading the way: Ethiopia is predicted to grow at 8.5 per cent in 2018 while Cote d’Ivoire and Senegal aren’t far behind at 7.4 per cent and 7 per cent respectively.
However, while southern African countries like Botswana, Namibia, South Africa and Swaziland may lead in measures of human development, the SADC region is one of the slowest-growing regions on the continent, averaging 2.9 per cent in growth. Read more. Source | Daily News
African businesses engaged in agriculture, manufacturing, financial sector, and tourism, among other sectors, could soon start to access finance from the African Export-Import Bank (Afreximbank) as the institution edges closer to operationalisation of its newly created export fund.
The operationalisation of the Fund for Export Development in Africa (FEDA) moved into high gear on Sunday with the holding of the pre-incorporation meeting of the Board of Directors in Cairo, Egypt. Read more. Source | New Times
Sub-Saharan Africa is among regions in the world projected to record accelerated economic growth in 2019, amid a slowdown in global growth precipitated by heightened trade tensions and rising interest rates in the US. The International Monetary Fund says that GDP growth in sub-Saharan Africa will rise from 2.9 per cent posted last year to 3.5 per cent this year, and 3.6 per cent in 2020. Read more. Source | East African