AU leadership met to discuss infrastructural development

 

 The leadership of the African Union Commission (AUC), the African Development Bank (AfDB) and the Economic Commission for Africa (UNECA) are meeting at the AU headquarters in Addis Ababa, Ethiopia to update on issues of crucial importance with regard to the development agenda of the continent.

 

 Dr. Nkosazana Dlamini Zuma, Chairperson of the African Union Commission, Dr. Donald Kaberuka, president of the African Development Bank and Mr.  Carlos Lopes, Executive Secretary of the United Nations Economic Commission for Africa and the RECs representatives will for two days exchange views on infrastructure development and cross-border transit including the integrated high-speed train network; the implementation of the Inga Dam Project; the Pan African E-network; agriculture, continental free trade area and aviation development in the continent, among others.

 Other items on the agenda of the meeting include:  the development of a commodity strategy that will result in Africa regaining the pricing of key commodities and the establishment of the virtual university by consolidating African initiatives and strategies on accelerated human capital development, science, technology and innovation while capitalizing on the digital revolution and global knowledge. 

Agenda 2063 will also be at the center of discussion during the meeting of the three continental organizations.

 Meanwhile, the three organizations will tomorrow 5 June 2014, meet at the level of the committee of ministers, to follow up on the implementation of the Bahir Dar Ministerial retreat and discuss issues arising from the e-mail from the future of Dr. Dlamini Zuma.

 

 

 

Leading African experts opens an international Forum on investment to Africa

he Africa Finance & Investment Forum was officially opened by Prof Monty Jones, EMRC President, alongside Bruno Wenn, CEO of DEG (Deutsche Investitions - und Entwicklungsgesellschaft mbH), in front of a crowd of 200 plus participants coming from across Africa and beyond, in the DEG headquarters in Cologne on 4th June 2014.

“This is a critical moment for the African continent. We need to explore the best means to ensure that the continent’s private sector can suitably access finance – each and every sector depends on access to finance in order to grow. Without this, there is not growth,” Prof Monty Jones said. “This gathering is therefore significant for everyone working with and in Africa. Lets find solutions that can help us grow.”

Entitled ‘Financing Business Opportunities’ the Forum’s first day spotlighted innovative solutions for access to finance, promoting global trade networks and trade relations between South-South and North-South amongst other related topics.

The likes of Babacar Ndiaye, former & Honorary President of the African Development Bank, Luiz Eduardo Melin, Managing Director of the Development Bank of Brazil (BNDES) and Bamanga Tukur, President of the African Business Roundtable addressed the audience alongside many other financial experts.

The afternoon session saw the three nominees for the EMRC Project Incubator Award present their business projects to the audience. Ismael Yameogo representing Maam Expertise from Burkina Faso, Jacques Mabanza head of Fonds d’Actions Mutuelles of the Congo and Magloire N’ Dakon from Extend Finance of the Ivory Coast gave the audience a breakdown of what they had so far achieved and what they were planning to do with the potential cash prize of US$15,000.

Magloire N’ Dakon from Extend Finance of the Ivory Coast was eventually crowned the winner during the networking evening with the select committee highlighting the project’s sustainability and the role it provided in promoting job creation and income creation.

In addition to the Project Incubator Award, approximately 600 B2B meetings took place over the space of two hours as participants sat down and discussed their individual needs and business opportunities with potential donors and investors.

AFIF2014 partners also include: BNDES (Bank of Development of Brazil); AFREXIMBANK; EIB (European Investment Bank); ICD (Islamic Corporation for the Development of the Private Sector;)IFC (World Bank); UN/WTO – International Trade Centre; ADC (African Development Corporation); Delta State (Nigeria); Shell Foundation and the German Trade/Business organizations AfrikaVerein and SAFRI (Southern Africa Initiative of German Business).

EMRC’s approach to grow and strengthen Africa’s private sector is in parallel with DEG’s policy to promote business initiative in developing and emerging market countries by making long-term financing and advice available to private enterprises investing in these countries.

Continental Reinsurance Plc appoints new Head of Life Operations

Continental Reinsurance Plc, Africa’s largest private reinsurer, outside of South Africa, has appointed Mr Abayomi Oluremi-Judah as the Company’s new Head of Life Operations.

Mr Oluremi-Judah trained and worked as an actuary in the UK and Europe over the past 13 years, and brings his extensive insurance and reinsurance experience to Africa. He holds a Bachelor of Science in Mathematics and Economics (University of Warwick) and is an Associate of the Institute of Actuaries.

“We are very pleased to bring Nigerian-born Oluremi-Judah back to Africa to support Continental Reinsurance to realize its vision to be the premier pan-African reinsurer,” said Dr Femi Oyetunji, Group Managing Director/CEO of Continental Reinsurance. "He is an exceptional addition to our Company and will bring outstanding global experience to the role and to the re/insurance industry in Africa.”

Oyetunji further said: “Africa has vast potential to develop a world-class reinsurance market, however to achieve this we need reinsurance skills, including analytical, actuarial, underwriting and asset management skills as well as local knowledge to grow and support Africa’s renaissance and economic development.”

Continental Reinsurance is fully committed to addressing the skills shortage by developing local talent, providing training and knowledge to local markets and to bring the diaspora back to Africa.