Connect with us

World

US, Africa to Strengthen Trade Through AGOA, Private Sector Collaboration

Published

on

forex black market

By Kestér Kenn Klomegâh

With over 1300 delegates at the US-African Business Summit held in mid-July in Gaborone, Botswana, the main focus was on mapping out strategies to strengthen trade and economic relations between the United States and Africa. Most speakers emphasized reviewing and widening collaboration between governments, while others underlined the importance of the private sector as the key driver in achieving robust economic growth in African countries.

African leaders, corporate business executives, and most participants called for an extension of the Africa Growth Opportunities Act (AGOA), which grants African countries the freedom to export products tax-free into the American market. It is the traditional market from where most of them earn revenues for their national budget.

Renewing the African Growth and Opportunity Act AGOA immediately would remove uncertainty about the pact’s future and allow for suppliers and partners to plan better and maintain investments in African economies, ministers said during discussions in Botswana.

Chairman of the Board of Directors for the US Corporate Council on Africa (CCA), Dr Jeffrey L. Sturchio, underlined the importance of collaboration between governments and private sectors, describing partnerships as a vital ingredient for achieving robust trade and economic targets during the previous years.

The Corporate Council on Africa organized the mid-July summit as a follow-up to the December 2022 US-African Leaders Summit in Washington under the patronage of President Joe Biden, where the White House and the United States offered $55 billion for tackling various development projects across Africa.

African leaders urged renewal of the long-standing Africa Growth Opportunities Act (AGOA), which gives some African countries preferential or even tax-free access to the US for their exports.  The agreement is due to expire in 2025, and African delegates at the summit want the deal renewed without much delay. As already known, AGOA has been credited with creating employment in Africa and bolstering exports to the United States.

“It is also our earnest hope that in consonance with the letter and spirit of the U.S.-Africa Leaders Summit, the Biden administration will renew the African Growth and Opportunity Act initiative, which expires in 2025,” Botswana President Mokgweetsi Masisi, addressing delegates gathered in Gaborone. “The AGOA renewal now, with expanded mandates, will give a strong signal and confidence to the markets and serve as a catalyst for Africa’s industrialization and inclusion into the global value chains.”

Florie Liser, chief executive and president of the Corporate Council on Africa, which organizes the U.S.-Africa Business Summit, said there is a need to examine AGOA in light of the newly established African Continental Free Trade Area (AfCFTA). And United States is exploring opportunities that the African single market offers.

A lot has changed in Africa and beyond since AGOA came into practical operation more than two decades. Florie Liser pointed out that “the advent of the African Continental Free Trade Area is fostering much closer economic and commercial integration on the continent, which will spur the creation of regional and continental value chains and increase value-added across key sectors. In many ways, the question is how best we can support this development.”

The Atlantic Council Africa Center produced a report titled – The Future of U.S.-Africa Trade and Investment, which analyzes the future of the AGOA. The report was issued at the summit.

Frannie Leautier, a senior fellow at the Atlantic Council and the report’s lead author,, explained that the idea of extending or renewing AGOA is to realize the potential of AGOA for long-term development through greater certainty, planning and skilled up support for capacity development and investment flow.

The first recommendation is straightforward: just extend it. The second one is to provide longer-term certainty about AGOA eligibility because investors are waiting for that.

He said the act “should be renewed by the US Congress for at least a ten-year period as soon as possible.” There was also a call by ministers for the AGOA rules to be streamlined and made less cumbersome in order for more countries to be able to benefit from the program.

“There is a compelling case to reauthorize the AGOA,” wrote Daniel F. Runde and Thomas Bryja for the Washington DC-based Centre for Strategic and International Studies (CSIS) in a new paper on calling for AGOA to be renewed.

According to reports, not all African countries benefit from AGOA. Some, like Ethiopia, Mali and Guinea, were barred because of coups and human rights violations. These African countries were not invited to the Washington December gathering. South Africa’s eligibility is being reviewed over the alleged sale of arms to Russia.

South Africa has been the biggest beneficiary of the 23-year-old AGOA act in monetary terms, largely thanks to the car sector. The South African media has also reported that President Cyril Ramaphosa sent senior members of his cabinet to Washington to discuss the future of AGOA.

Scott Nathan, chief executive of the U.S. International Development Finance Corporation, who is leading the U.S. government delegation at the summit, pledged continued support for Africa. “The United States is focused on what we will do with African nations and people, and not for African nations and people. We work to deepen and understand our partnership, amplify African voices and support the empowerment of Africans,” according to Scott Nathan.

Zambia’s trade and commerce minister, Chipoka Mulenga, said his country had benefited from the trade agreement but remained “at the bottom of the benefits of the AGOA platform” due to a lack of the industrialization needed to produce more “value-added products” rather than merely exporting raw materials such as minerals or agricultural produce.

If the U.S. government want to see AGOA succeed in Africa, it must support African countries to industrialize to give value addition. Mokhethi Shilele, trade minister from Lesotho, cautioned against a complete revamp of AGOA for fear of delaying the act’s renewal. “There is a sentiment that AGOA should be reformed or changed, but I’m indifferent to that because if we push for that, how are we going to get it renewed this year?”

Atlantic Council views an interconnection between the AGOA and the new African Continental Free Trade. For the future of US-Africa trade and investment, policymakers in the US and Africa must decide the basis for stronger US-Africa trade going forward. With the African Growth and Opportunity Act (AGOA) set to expire in 2025, the U.S. has an opportunity to update its economic offer for Africa.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Online African Women Conference: From Adaptation in Russia to Issues of Health and Spirituality

Published

on

Online African Women Conference

By Kestér Kenn Klomegâh

Women, generally, are fighting for their own empowerment in society. Gender equality dominates their activities, flexing their feminine muscles for higher positions, with men, in diverse professional aspects, including politics and entrepreneurial spheres of activity.

Such consistent struggle was backed by a collective declaration, worldwide observing March 8 as International Women’s Day. Until today, March 8 commemorates women’s fight for equality and liberation along with the women’s rights movement. In addition, the March 8 celebration focuses on issues such as gender equality, reproductive rights, and violence and abuse against women.

On the eve of March 8, the Cameroonian Diaspora (Diaspocam) and the “African Business Club” together with Russian women’s organisations, held a special online conference under the theme: “How to Succeed as a Woman in Russia”, which brought together over a hundred participants from different regions, including Africa.

The discussion was dedicated to the challenges of adaptation, career prospects, health, and spiritual security of a fast-growing number of young African women living in the Russian Federation. The conference was moderated by Louis Gouend, a specialist in business communications between Russia and Africa, President of the African Business Club, and an expert of the Council of Russia-Africa Cooperation under the State Duma, lower chamber of Russian legislators.

Louis Gouend congratulated the women participants while extending to them good health, wisdom, and new achievements. The main goal of the conference was to create a space of trust and exchange views on the full spectrum of women’s multidisciplinary approach to questions.

On adaptation and legislation: Alina Andrukh, Director of the International Department, spoke on the topic “Global Adaptation of Foreign Citizens in Russia.” She thoroughly examined educational trajectories for women, employment opportunities, and new legislative realities that foreign women need to consider when building a career in the Russian Federation.

The speaker further placed special emphasis on how to avoid getting into trouble, complying with Russian laws, and protecting one’s rights.

Health Without Barriers and Support Centres: One of the most anticipated speeches was given by Ekaterina Glok, a midwife by profession. In her presentation on “The Health of an African Woman in Russia,” she touched upon the delicate topics of reproductive and sexual health. The expert gave practical advice on how to overcome the language barrier and shyness when visiting a gynaecologist, and explained the specifics of the Russian healthcare system for foreign patients.

Ekaterina, however, reminded the women of the importance of regular medical check-ups: visiting a doctor, at least, once a year is necessary even in the absence of complaints. She informed the participants about the existence of support centres for women and single mothers, where they can turn to in difficult life situations. Additionally, the speaker announced her upcoming working missions in the Republic of Cameroon, planned for May 2026, and gave many practical tips on maintaining women’s health.

Social and Cultural Challenges – Warning About Dangers: An important block of questions concerning safety and conscious motherhood was highlighted by Mme Zima épouse Ndong Toung Celestine Charlotte, Cultural Advisor at the Embassy of Cameroon. She had a frank conversation, warning the girls about scammers and dishonest individuals offering attractive working conditions, behind which often lie indecent earnings and dangerous situations.

The Advisor reminded that for those who came to Russia to study, education should remain their main priority. She urged lady students to be vigilant, not to give in to dubious offers, and to postpone questions of pregnancy and starting a family to a later period, after completing their studies. She touched upon the legal and moral aspects of unwanted pregnancy, calling on the girls to engage in conscious life planning.

Economic Independence and Earning Opportunities: Luciana Tchami, a member of the executive bureau of Diaspocam, a non-profit social organisation, presented a report on “Women’s Capabilities: Professions and Part-Time Jobs for Young Women in Russia.” She gave examples of successful strategies for earning money and building a career within the conditions of the Russian labour market that are accessible to foreign students and young professionals.

The speaker detailed specific areas of work: young women can take short-term training courses and work in beauty salons (manicure, pedicure); many cafes and restaurants offer convenient part-time jobs. Luciana also mentioned specialised websites with attractive conditions for job seekers and opportunities for remote work: becoming a freelancer and helping with tasks online, for online stores, and in other areas.

Spiritual Support: A Reminder of a Woman’s Value. The conference concluded with Pastor Gustave Mbeng, responsible for charity at Diaspocam. His prayer-speech was dedicated to women’s rights and spiritual awakening. As a pastor, Mbeng reminded the participants that woman is the last and most ideal creation of God, perfect in all parameters of the universe. He emphasised that women are more beautiful and harmonious than men, and urged the girls to take care of themselves and not to distance themselves from God, so that there would be fewer difficulties and questions in life.

Pastor Gustave further paid special attention to the theme of preserving life. He took a stand against abortion, reminding that every child is a creation of God, and in the eyes of the Almighty, there is no such concept as abortion. If pregnancy does occur, it is important to preserve the child’s life and trust in God’s providence.

Technical organisation, moderation, translation and coordination of the conference were provided by Iness Zengue Abeng, President of the Association of International Students “Russia-Africa,” and Belle-Grâce Euphrasie, Dean, who acted as interpreter during the online event.

Conclusion and Future Plans: At the end, Louis Gouend extended gratitude to all participants, speakers, and presenters for the warm and trusting atmosphere.

The conference was held in an open dialogue format on the”Yandex Telemost” platform, which allowed women from different parts of Russia to ask questions live and receive moral support. Following the meeting, the organisers decided to hold such an online gathering, including organising a series of meetings not only for women but also for foreigners living in Russia.

The topics of future conferences will aim at education, open discussions, and debate on issues important for Africans in the Russian Federation: knowing one’s rights, being able to avoid unpleasant situations, behaving correctly in difficult life circumstances, and preserving cultural and spiritual identity.

Until now, prejudice and reactionary attitudes have denied full-fledged civic rights to millions of women, who are considered as workers, mothers, family partners, and citizens worldwide. Nevertheless, International Women’s Day, with its chequered history, is a public holiday in several countries. The United Nations observes the holiday in connection with a particular issue, campaign, or theme in women’s rights across the world.

Continue Reading

World

Beijing Readies to Hand Over New ECOWAS Building Complex

Published

on

China-financed ECOWAS Building Complex Abuja

By Kestér Kenn Klomegâh

Beijing’s decades-long policy decision to expand Chinese presence in Africa has, largely, transcended into gifting buildings. The African Union and Africa’s CDC to Zimbabwe’s parliamentary village, Ghana’s Foreign Ministry headquarters, and Egypt’s sports stadium, among many others, are classic examples. Following all these, China will hand over the new headquarters of the Economic Community of West African States (ECOWAS) in mid-March 2026.

Since the turn of the 21st century, China has risen to become Africa’s geopolitical partner, addressing concrete infrastructural projects across the continent. As is well-known, Beijing does so, with the sole aim of spending thousands of dollars to gain strategic control of the continent’s critical resources.

In an official news release, the regional bloc’s president, Dr Omar Alieu Touray, said that the new headquarters complex in Abuja, Nigeria, which will house the Commission, Parliament, and Court of Justice of the Economic Community of West African States (ECOWAS), will be operational in March 2026.

Built on a 7-hectare site along the road to Abuja airport, the building is currently completed. Known as the ‘Eye of West Africa,’ the new ECOWAS headquarters complex is entirely funded and built by the People’s Republic of China through the China International Development Cooperation Agency (China Aid).

It is a modern and functional administrative building, designed to meet the needs of the West African organisation. It will provide services to create a favourable working environment for the community’s staff members. The new complex comprises a main administrative building with three restaurants/cafeterias, banking rooms, a crèche, a gym, and three blocks containing 899 workstations: block A (central) has 11 floors, and blocks B and C have eight floors each.

It also includes a multipurpose building with security facilities, shops, a water tank, and archive rooms, as well as car parks with a total capacity of 702 parking spaces, a 720-seat auditorium, two committee rooms, a conference room, an equipment room, guard posts, and a helipad.

The new ECOWAS headquarters complex is seen as a symbol of the strengthening cooperation between China and the regional organisation. It is part of a technical and institutional partnership aimed at further supporting ECOWAS’ operational capacities, as well as part of ongoing cooperation between the two parties.

Accordingly, the headquarters complex will enable greater operational efficiency, reduced costs, and increased staff productivity. ECOWAS has expressed deep gratitude and sincere appreciation to China for its commitment and support to the regional organisation through the construction, seen as a ‘symbol of Beijing’s steadfast commitment to West African integration.’

Continue Reading

World

Iranian Supreme Leader Ali Khamenei Dies After Air Strikes

Published

on

Ayatollah Ali Khamenei

By Dipo Olowookere

Iranian Supreme Leader, Mr Ayatollah Ali Khamenei, has died after coordinated airstrikes carried out by the United States and Israel on Tehran on Saturday morning.

His death was confirmed on Sunday morning by Iranian state media, which also disclosed that his daughter and grandchild were among those killed in the bombardment, which destroyed his compound.

Mr Khamenei was killed during a meeting with top leaders of the Middle East country yesterday, including the Defence Minister Amir Nasirzadeh and Revolutionary Guard commander Mohammad Pakpour, who reportedly died too.

His elimination has sparked mixed reactions, with some Iranians on the streets celebrating his demise, and others condemning the joint air strikes.

The President of the United States, Mr Donald Trump, described the late Iranian leader as “one of the most evil people in history,” expressing satisfaction at the action, which he said was “successful,” as it represented justice for both Iranians and Americans.

Meanwhile, Tehran has vowed to further respond to the attacks after initially firing missiles at six neighbours, including Qatar, Saudi Arabia, Kuwait, UAE, Bahrain, and Jordan.

Flight operations in the region have been disrupted because of the retaliatory action of Iran over the weekend, though most of the missiles were intercepted.

Continue Reading

Trending