Recently renewed by U.S. President Barack Obama, the African Growth and Opportunity Act, or AGOA, allows qualifying African countries to export certain products to the U.S. duty free. U.S. exports to Africa, however, are subject to customs duties. Incoming President Donald Trump isn’t going to go for that, says Herman Cohen, a former U.S. ambassador to several African countries. “I have the feeling that he will ask African governments to accept reciprocity in trade relations,” Cohen said.
Agriculture: Latest News
Dana Sanchez, 11:20 pm
Foreigners have been invited to invest in Ethiopia’s state-owned shipping and logistics company. Will telecommunications and banks be next? Ethiopia is one of the last African countries to have a state monopoly in telecoms. The U.S. hopes to bring its technology, know-how and managerial skills to Ethiopia. The American Chamber of Commerce of Ethiopia was launched in November. “The private sector needs a level playing field that allows fair competition with state-owned enterprises,” a U.S. stakeholder said.
Dana Sanchez, 10:57 am
A scholarly tradition tied to agriculture, stargazing in Ethiopia predates Christianity. Some historians argue that the first study of celestial bodies can be traced back to Ethiopia. Ethiopia’s space ambitions could make it the first country in the Horn of Africa and Northeast Africa to become a space power. Developing satellites and rocket launchers locally in Ethiopia could prompt Kenya, Uganda, Egypt and even Sudan to accelerate their own space ambitions.
Peter Pedroncelli, 1:25 am AFKI Original
The year 2016 was not an easy one for South Africa, but investor outlook for the year 2017 certainly looks more positive. Having survived a tough year, investors are now looking at South Africa to gauge whether or not to invest their funds in the emerging market, but there are a flurry of reasons to give the country a second glance in 2017. We take a look 12 things that are expected to improve investor outlook in South Africa during 2017.
Dana Sanchez, 4:10 pm
Around 60% of all products in South African stores are halal certified. Despite Muslims forming 1.5% percent of the population, this huge percentage of halal products is due to the large quantity of exports sent north in the continent, much of which is Muslim. South African traders make up about half of Africa’s fast-moving consumer goods sector, and 35 percent of these traders are Muslim. SA has helped other African countries set up halal certification including Zambia, Namibia, Botswana and Mozambique.
Dana Sanchez, 6:15 pm
Teodorin Obiang, the vice president of Equatorial Guinea, is in line to succeed his father, the president. The son also faces 10 years in prison and a $105 million fine for money-laundering. The country’s treasury paid almost $115 million into Obiang’s personal account. Africa’s only Spanish-speaking country is often criticized for repression, torture, corruption and unlawful killings. France is preparing cases against relatives of other African leaders including from Congo, Gabon and CAR.
Dana Sanchez, 1:19 pm
Hardly a day goes by when US. marijuana attorney Hilary Bricken does not get a call from someone overseas (often South Africa) asking about cannabis real estate opportunities in the U.S. With plans underway to legalize medical marijuana in South Africa, locals there hope to come up with alternative products that costs less and benefit the country more than Western treatment counterparts. South Africa is a major player in the global cannabis industry, producing a top strain — Durban Poison “The (South African) economic implications are absolutely astronomical if you look at what is going on in the rest of the world,” a local stakehoder said.
Dana Sanchez, 3:50 pm AFKI Original
Trained as a pastry chef, Obado Obadoh learned his craft working for major Kenyan hotel chains. In 2011 he had an opportunity to buy out an existing restaurant. The result is Café Deli, Kenya. His secret to success? “Paying your debts,” he said. “When an investor or a bank gives you their money, just pay it back. They will trust you and help you in future.” Obadoh advises entrepreneurs not to get caught up trying to impress people with things they can’t afford. “I don’t … waste funds trying to live a life that’s not yet mine,” he said.
Kurt Davis Jr., 4:29 pm AFKI Original
A sense of what Zimbabwe can expect post-Mugabe. Partnership in the fight against terror for Tunisia. Better strategies combating poverty and HIV in Swaziland. These are just a few of the wishes that a U.S. investment banker visualizes for African countries as the old year winds down and 2016 gives way to 2017.
Staff, 4:53 pm
Ethiopia’s controversial Gibe III dam got an official inauguration Saturday. UNESCO has condemned it. Human rights groups say it has displaced people in the Omo Valley and will decrease water downstream all the way to Kenya’s Lake Turkana. A far more controversial Ethiopian dam, Africa’s largest ever, is scheduled for completion in 2017. The Grand Renaissance Dam will produce the equivalent electricity of six nuclear reactors.
Dana Sanchez, 11:16 am
It wasn’t easy getting ECOWAS members to hold a conference in Israel. The 15-member Economic Community of West African States held their first-ever seminar outside West Africa. They learned hands-on about Israeli irrigation technology and how a tiny Middle Eastern country under attack from all sides has managed to thrive in adversity. “In Israel we make the impossible possible,” a conference organizer said. “This conference is an example.” Netanyahu plans to visit West Africa in a few months.
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