Us africa trade April 2015

SELECTUSA 2015: U.S OPENS TO THE WORLD

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Interviews, New features, Business Trends

CONTENTS

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04 WORLD/AFRICA -- NORTH AMERICA: Canada’s move to S.A mining -- EUROPE: Third meeting of the EU-Africa High Level Policy Dialogue Expert Working Group -- ASIA: China trade with Africa to surpass $200 Billion in 2015

12 SPECIAL REPORT

17 LOGISTICS

-- U.S. Vows to Catalyze Egypt’s Economy

-- Air Cargo Africa 2015, Opportunities are bigger than challenges

25 SPOTLIGHT

23 OPINION

-- Gabon

-- Reasons to invest in Africa

18 SECURITY

08 INVESTMENT

-- Desperation?

21 AIRLINES BIZ

-- SelectUSA 2015, U.S opens to the World -- OPIC Bolsters Tunisian Small Businesses

20 INITIATIVE

-- Kenya Airways faces inquiry after Museveni 'snub'

11 ECONOMY -- Better outlook for African economies 2015

11 CHAMBER OF COMMERCE

-- USAID graduates more than 100 women trained in entrepreneurship and leadership

21 ENERGY

-- American chamber of commerce in Kenya

-- Nigeria looking for new source of revenue away from oil.

14 BIZ AFRICA

06 DIPLOMACY

-- African Trade Ministers’ visit to Washington -- Report Dissects Brand Success in Africa -- U.S. Supplier Seals Mega Housing Deal With Nigerian State

22 TOURISM -- Tunis attack, another hit to Africa’s Tourism industry

24 TRADE AGENDA 26 CURRENCY SNAPSHOT

-- Mali: Six Peace Corps Volunteers Swear In

07 TALK NUMBERS

23 ON THE RADAR

07 THEY SAID

-- U.S Customs and Border Protection (CBP)

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WORLD NEWS-AFRICA

NORTH AMERICA: Canada’s move to S.A mining

BY JACKSON ETA

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ast month, South African Resources Minister Ngoa ko Ramatlhodi and Canada’s Minister of International Tr a de, Ed Fast signed a memorandum of Understanding (UoM) pertaining to the co-operation in mining and minerals development.

According to Minister Fast, it was a commitment of partnership between the two governments, a co-operation to increase a reciprocal investment in exploration and prospecting activities, with a particular focus on the junior to mid-tier mining sector.

Canada is a significant investor in South Africa. Canadian investments largely focus on the mineral and mining sector, as well as transportation, food

processing, hospitality, information and communication technologies, and instrumentation sectors.

According to Statistics Canada, Canada’s bilateral merchandise trade with South Africa totaled

over $1.1 billion in 2013, consisting of more than $468 million in exports to, and more than $686 million in imports from South Africa.

ASIA: CHINA TRADE WITH AFRICA TOP $200 BILLION IN 2014

BY GERALD NATHALIE

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over the next decade to create a shoe-manufacturhina’s foreign direct investment (FDI) in Africa is growing in fast pace. Africa AFRICA IS ONE OF CHINA ing cluster that exports to other African nations, is one of China largest trading Europe and North America.

LARGEST TRADING partner. Bilateral trade to surpass US$200 In November 2014, China Railway Construction PARTNER. BILATERAL billion in 2015. Trade with Africa is small in TRADE IS EXPECTED TO Corp signed China’s largest-ever overseas investment terms of China’s total trade, but it is strateSURPASS $200 BILLION deal, agreeing to build a 1400 kilometer railway gically important because of its composition. along the coast of Nigeria, Africa’s largest economy.

IN 2015 Commodities especially oil dominate China’s imports For Beijing, it’s more about investment, for Africa, from Africa. Also China has been investing heavily in different part China’s low-cost manufacturers have helped to stimulate consumer of Africa, such as rail road, Mining, infrastructures, and manufacturmarkets. However experts think that low cost manufacturing products ing. In Ethiopia, China’s Huajian Group plans to invest $2 billion have selectively threatened domestic industries, such as textiles.

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EUROPE: Third meeting of the EU-Africa High Level Policy Dialogue Expert Working Group

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arch 2015, Third meeting of the EU-Africa High Level Policy Dialogue (HLPD) Expert Working Group (EWG) on food and nutrition security and sustainable agriculture was held in London.

The HLPD Expert Working Group met for the third time to make progress on their input to a roadmap developing a long-term EU-Africa Research and Innovation Partnership with a particular focus, initially, on food and nutrition security and sustainable agriculture (FNSSA). This meeting followed an external consultation phase on the draft input that was launched in February 2015. The draft input focusses on three thematic pillars: sustainable intensification, agriculture and food systems for nutrition and agricultural markets and trade and some cross-cutting ones, such as innovation, social science, gender and capacity-building. The final input is expected to be presented to the EU-Africa HLPD Bureau on 27 April in Brussels.

The EU-Africa HLPD Bureau (co-chaired by the European Commission (DG Research and Innovation) and Congo Brazzaville replaced at this meeting by Namibia; the African Union Commission, DG Agriculture and Rural Development, DG International Cooperation and Development, South Africa, Latvia, Germany, UK, France and Portugal were present) also met. The HLPD Bureau will now work on transforming the input of the EWG into a final roadmap towards the EU-Africa Research and Innovation Partnership, specifically developing the potential modalities of cooperation and instruments to be used in the short-, medium- and long-term, before submitting it to the senior officials of the EU-Africa HLPD for their approval in March 2016 in Addis Ababa (tbc).

On both sides, pre-meetings took place with those countries that are not currently seated in the EU-Africa HLPD Bureau (additional countries present were Belgium, Sweden, Kenya, Angola and Egypt).

In addition, a first meeting with potential funders took place, building on the successes achieved with the FP7 initiated international ERANET, ERAfrica. ERAfrica enabled 15 European

U.S AFRICA TRADE

The EU-Africa HLPD Bureau (co-chaired by the European Commission (DG Research and Innovation) and Congo Brazzaville replaced at this meeting by Namibia; the African Union Commission, DG Agriculture and Rural Development, DG International Cooperation and Development, South Africa, Latvia, Germany, UK, France and Portugal were present) also met and African countries to pool financial resources through a virtual fund for a total of 10.7 MEUR to fund collaborative research projects. Those funding agencies present (from France, Belgium, Finland, Norway, the Netherlands, Austria, Germany, UK, Portugal, Switzerland, Italy, Angola, Kenya, South Africa, Egypt, Ivory Coast, Namibia) indicated a clear commitment to the roadmap of the EU-Africa Research & Innovation Partnership on FNSSA. Source: Africa-EU partnership

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INITIATIVE

USAID graduates more than 100 women trained in entrepreneurship and leadership

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he U.S Government, through the United States Agency for International Development (USAID), held a graduation ceremony today for 107 women trained on women entrepreneurship and leadership in livestock businesses from the Amhara, Oromia, SNNP, and Tigray regions of Ethopia. Focusing on technical, business and leadership skills, the training will assist the graduates to become successful business operators as well as mentors to other women in their communities.

USAID supported the five-month training under its Agricultural Growth ProgramLivestock Market Development activity.

In many parts of Ethiopia, women are responsible for the production of livestock, such as fattening and breeding. Women are also extensively involved in feeding animals, milking dairy cattle, cleaning barns, processing milk and selling livestock products.

However, the lack of involvement in valueadded activities limits women from fully contributing to developing the country’s livestock sector.

USAID supports the Government of Ethiopia to improve livestock business results by addressing gender differences in productivity, profitability, participation and leadership. As a result of their training, today’s graduates are now the role models who are expected not only to become successful business women, but also be influential mentors for other women in their communities. Addressing the women graduates, USAID representative Gary Robbins said, “You are now serving as mentors to other women, demonstrating the practical skills you obtained over the past five months.

Challenging the status quo, you are truly role models of women leadership in agriculture and I applaud you.”

Under the U.S Government’s Feed the Future Initiative, USAID improves the productivity and competitiveness of the livestock value chains by identifying women, who are or have the potential to become livestock entrepreneurs and role models and by providing training as well as coaching. Today’s 107 graduates bring the total number of women trained in entrepreneurship and leadership to 211.

Source: usaid

DIPLOMACY

MALI: SIX PEACE CORPS VOLUNTEERS SWEAR IN

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ast February, a group of six Peace Corps Volunteers took their oaths of office, bringing to 19 the total number of Volunteers in Mali since restoration of the program in September 2014. The Volunteers will serve as Water/Sanitation/

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Nutrition and Small Enterprise Development Volunteers during their year of service in six communities in the Region of Sikasso. The Volunteers have all formerly served in other countries, including Mali, Guinee, Senegal, Togo and Cameroon.

The swearing-in ceremony was held at the residence of the U.S Chargé d’Affaires with a large crowd, including representatives from the Government of Mali, in attendance.

Source: US embassy in Mali

THEY SAID

“I know that the American private sector is absolutely committed. I read the papers; I know how some people spread rumors and some people want to sow the seeds of doubt, but let me dispel them firmly today. The United States of America is eager, ready and willing to be a catalyst in Egypt’s economic development, and we respect the efforts that you are already making, and we want to help you grow them,” -- John Kerry, U.S Secretary of State:

-“We, Africans, need to make the lead in telling our story, explaining the situation but also combatting some of the misconceptions of the continent.”

-"Abubakar Shekau must surrender.

We know where he is. If he doesn't give himself up he will suffer the same fate as his compatriots," Idriss Deby, Chad President -"We must all work together to change Africa”

-- Donald Kaberuka, African Development Bank

-- Kola Karim, Shoreline Energy International

TALK NUMBERS

$26 billion 26 savings, AGOA eligible export countries

$16 billion 7000 2014 AGOA eligible tariff-lines

African countries qualified for apparel preferences

Duty-free apparel for exports

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INVESTMENT

2015 SELECTUSA

President Obama opened a historic summit to boost foreign Investment in U.S

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he Obama administration created SelectUSA in 2011 in an effort to boost foreign investment in the U.S. With more than 2,600 people from more than 70 markets, and economic development organizations from all corners of the United States, a record attendance from 2013, the 2015 SelectUSA Investment Summit, this year, fulfill two goals of Obama administration: Show the World that more than ever U.S has become the hub for foreign investment, leading the World economy in 2015, and create jobs while at the same time investing in more research an innovation, enhancing trainings for investors, and expanding partnerships with state economic development organizations..

Addressing the crowd of investors coming from different part of the World, president Obama, gave a key speech during which he highlighted the reasons why investing in U.S is a win-win situation Obama also announced that the U.S. Citizenship and Immigration Services will increase clarity around the adjudication of the L-1B non-immigrant visa that allows international companies to temporarily deploy workers with specialized knowledge to the United States when launching or conducting operations in the U.S. The president the Commerce Secretary Penny Pritzker, during the opening ceremony highlighted the reasons why to select USA from other countries around the world. For the U.S Commerce Secretary, the strong enforcement of rule of law and intellectual property protections; U.S World class universities, financial markets, vibrant supply

BY GISCARD AYISSI chains; and our abundant, and affordable energy supply make U.S an efficient place for investment. Secretary Penny Pritzker stated that her department will establish the first-ever federal advisory committee to solicit formal input on the development and implementation of strategies and programs to attract and retain foreign direct investment in the United States a new partnership platform that will improve state-federal coordination, boost SelectUSA services and programs, and promote high standards

in investment-promotion activities across the country.

The two days summit gave the participants an opportunity to attend different panels of discussion, such as locating and integrating supply chain, U.S tax policy and the implication for foreign investors, partnership with universities and colleges, America New energy economy, start up resources, and investing in rural America.

During the two days summit, exhibition from Economic development organizations

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from all corners of the United States took place giving participants and investors the potentials and the different opportunities in the U.S’ 50 states.

Finally, before the concluding remarks from the U.S Commerce Secretary Penny Pritzker, secretary of State, John Kerry, was another key figure of Obama administration to brief participants on U.S foreign and investment policies.

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INVESTMENT

OPIC Bolsters Tunisian Small Businesses

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mall and Medium-scaled Enterprises (SMEs) in the Northern African nation of Tunisia have been financially boosted. The Overseas Private Investment Corporation (OPIC), the U.S Government’s development finance institution, recently announced its support of the Tunisia Credit Guaranty Facility (TCGF) in partnership with leading Tunisian financial institutions Amen Bank, ATB and Attijari Bank. OPIC support will guarantee up to $50 million of lending through TCGF. OPIC’s President and CEO, Elizabeth Littlefield, signed an agreement with the partner banks while speaking at the landmark Investment & Entrepreneurship Conference, which fosters business and commerce ties between the United States and Tunisia. “A robust lending environment in emerging markets, specifically for SMEs, creates enduring employment and is one of the cornerstones of stable, inclusive economic growth,” said Littlefield in a statement.

She added: “Our cooperation in this facility with established Tunisian institutions will not only boost growth in Tunisia’s franchise sector, but also builds on previous similar OPIC-supported projects that created or sustained thousands of jobs in the region and produced lasting economic growth.” The TCGF will support the Tunisian economy by catalyzing lending to eligible Tunisian small and mediumsized enterprises (SMEs), with specific support to those employing franchise business models. A similar OPIC-supported lending facility in the Middle East loaned over $132 million to regional SMEs, supporting 10,000 local jobs in the process.

By addressing the shortage of credit available to Tunisian SMEs, this facility will stimulate growth in Tunisia’s private sector resulting in job creation and improved supply chains. TCGF is expected to impact 250 SMEs over 10 years. TCGF’s support to Tunisian businesses will enable them to acquire and operate franchises, produce goods and services to supply franchise businesses, and support growth of the broader SME market.

The Middle East Investment Initiative (MEII), a non-profit organization dedicated to stimulating economic growth through innovative finance options for SMEs, will manage the credit facility and work directly with local banks to support additional lending to Tunisian SMEs in local currency. Enclude, an advisory firm dedicated to

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OPIC’s President and CEO, Elizabeth Littlefield

A SIMILAR OPIC-SUPPORTED LENDING FACILITY IN THE MIDDLE EAST LOANED OVER $132 MILLION TO REGIONAL SMES, SUPPORTING 10,000 LOCAL JOBS IN THE PROCESS. building more inclusive and sustainable local economies, will partner with MEII to deliver technical assistance and capacity building to TCGF’s partner banks.

It is worth noting that OPIC is the U.S. Government’s development finance institution which mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad.

OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects, generated an estimated $76 billion in U.S. exports and supported more than 278,000 American jobs.

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Better outlook for African economies 2015

BY JAMES WALKER

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orth and Southern Africa are expected to experience acceleration in growth, from 1.6 per cent and 2.9 per cent in 2014 to 3.9 percent and 3.6 percent in 2015, respectively. Central and West Africa, on the other hand, are expected to experience a moderate increase in growth, from 4.3 percent and 5.9 percent in 2014 to 4.7 percent and 6.2 percent in 2015, respectively. A 2015 United Nations report projects that the continent economies will continue to grow in

2015 due to private investment and consumption, which have been key drivers of Gross Domestic Product (GDP) over the past years.

Another report from the same organization, released in Addis Ababa, predicts that Africa's GDP is expected to accelerate from 3.5 percent last year to 4.6 percent in 2015 and 4.9 percent in 2016.

East Africa will witness the fastest growth, reaching 6.8 percent in 2015 and 6.6 percent in 2016.

CHAMBER OF COMMERCE

American Chamber of Commerce in Kenya

BY MICHEL NGONO

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merican Chamber of Commerce in Kenya is a professional association of major U.S, foreign and local enterprises doing business in Kenya. The Chamber is one of 86 international Chambers in 76 countries that are affiliated with the U.S Chamber of Commerce. The organization advocates for U.S business in Kenya

and promotes a vibrant economy, while protecting and advancing the interests of our members, and the community as a whole.

The Chamber works in conjunction with other local Chambers and Business Associations, Government Bodies, and Private Sector Alliances to provide an enabling business environment, to improve government engagement on favorable policy

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amendments concerning the private sector, to promote trade, commerce and investment between the US and Kenya, to provide a forum in which American and Kenyan business people can identify and discuss common areas regarding their commercial interests in Kenya.

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FOCUS

U.S Vows to Catalyze Egypt’s Economy

BY VALENTINE MULANGO

Egypt’s troubled economy is getting ready for a boost and the United States is not only eager and ready but willing to be part of the revamping plan. U.S Secretary of State John Kerry recently urged businesses to invest in Egypt and praised Egypt’s President Abdel Fattah el-Sisi's government for reforms to restore investor confidence and boost the economy.

Speaking at an investment conference in the Red Sea resort of Sharm El-Sheikh Reception hosted by the American Chamber of Commerce of Egypt, Kerry said the United States would support Egypt's economic progress “in any way we can” to ensure lasting growth and to attract needed investment.

Egypt believes the conference will help boost investment in an economy still recovering from years of turmoil after a 2011 uprising toppled veteran leader Hosni Mubarak.

WHY EGYPT? America’s job, according to Kerry, is to encourage investment and help break down the barriers to the building of confidence that is essential for the movement of capital. “We want to promote around the clock shared prosperity in Egypt and across the region, but particularly, I say, in Egypt.

And we want to do that we want to do that.” He said. The U.S. is particular about Egypt because the country has always had an extraordinary business corps. Egypt has great capacity. This is not something new.

In addition, Egypt has always had a vibrant civil society. And it has been there for the hub of thinking, of progress, of energy, of direction in this region – not to mention

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the fact that it represents a quarter of the population of the Arab world.

It has always, in Kerry’s judgment, had the ability to demonstrate entrepreneurial energy.

And prior to the first Tahrir Square, the economy was growing at 7 percent and rising.

In Egypt, according to the World Bank, the youth unemployment rate is around 30 percent.

But a lot of young people have a combination – in some cases, education; in some cases, a cell phone and mobile device; in many cases, both – and they can communicate with people anywhere anytime.

This provides much greater demand. That’s why the business conference hosted by the American Chamber of Commerce of Egypt was really so important.

EAGER, READY, WILLING “I know that the American private sector is absolutely committed. I read the papers; I know how some people spread rumors and some people want to sow the seeds of doubt, but let me dispel them firmly today.

The United States of America is eager, ready and willing to be a catalyst in Egypt’s economic development, and we respect the efforts that you are already making, and we

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want to help you grow them,” Kerry assured Egyptian Authorities.

Last year, U.S. companies invested more than $2 billion in Egypt. American company Apache Corporation is Egypt’s largest oil producer.

And since 2011, Microsoft has doubled its employment in the country and developed the so-called citizen’s portal, giving Egyptians access to more than 300 government services online.

Nearly 30 percent of Egypt’s installed power capacity, 30 percent comes from General Electric. And American companies are top-flight corporate citizens.

The U.S. says is working so hard with the Egyptian Government to help support their efforts to implement reforms. And President Sisi has engaged on a bold and critical path to implement reforms. He’s committed to restoring investor confidence in Egypt’s future. He is taking steps to stabilize Egypt’s macro economy and improve the climate for doing business.

He has launched a serious effort to phase in the costly – to phase out the costly energy subsidies. And he’s promising tax reform and new investment that aims – the new investment law.

U.S. Secretary of State John Kerry speaking at an investment conference in Egypt

THE PLEDGE “The United States, President Obama, myself – we are committed to working with you and with the government to address your concerns.

Going forward, I promise you we’ll do everything we can to make it easier for you to create jobs, make it easier for you to build shared prosperity, while also contributing to a stronger and more fully positive relationship

Kerry and Egypt’s President Abdel Fattah el-Sisi's discusses current relations

between the United States and Egypt,” Kerry told the Egypt conference on investment.

“We will continue to work with Egypt, to bolster its economic reforms. We’re supporting the World Bank and the IMF efforts to provide technical expertise, which we know will also contribute to investor confidence.

And we will continue to do our part in expanding opportunities for U.S. businesses in the Egyptian marketplace,” he added. The United

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States established diplomatic relations with Egypt in 1922, following its independence from protectorate status under the United Kingdom. U.S. assistance to Egypt has long played a central role in Egypt’s economic and military development, and in furthering the strategic partnership.With Egypt embarking on a transition to democracy, U.S. support can bolster Egypt’s nascent democratic system and achieve inclusive economic growth.

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BUSINESS AFRICA

African Trade Ministers’ visit to Washington African Union mission, in collaboration with the African Ambassador Group of Washington, DC and the African Development Bank with the support of the Africa Trade Fund Project on boosting US-Africa trade, hosted, in January 2015, a high-level delegation of African Ministers of Trade focused on promoting the expeditious renewal of the African Growth and Opportunity Act (AGOA).

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he delegation was led by S’khulumi Ntsoaole, Minister of Tr a de a n d I n dust ry, Cooper atives and Marketing in Lesotho, who was accompanied by Gabriel Tchango, Minister of Trade, Small and Medium Size Enterprises, Handicrafts and the Development of Services in Gabon, and Etienne Ghislain Sinatambou, Minister of Foreign Affairs, Regional Integration and International Trade in Mauritius.

The visit offered the delegation a unique opportunity to hold important consultations with representatives of the US Government, including the National Security Council at the White House, the State Department, the Office of the US Trade Representative, key members of both houses of Congress, and other critical US stakeholders, including the private sector, civil society, and think tanks, on the importance of AGOA’s timely reauthorization for the US-Africa strategic partnership. The consultations also highlighted the implications of that partnership for the shared interests of economic opportunity and the stability and prosperity of Africa.

The series of meetings made it possible for the Ministers to underscore particularly the urgent need for an expeditious reauthorization of AGOA as a critical avenue for boosting US-Africa trade, at the latest during the first quarter of 2015 before the eligible countries face huge economic and social challenges.

The Ministerial delegation also called upon the US Congress and US Administration to not attach the potential AGOA bill to other trade policy bills (e.g. the Trade Promotion Authority), apart from the Generalized System of Preferences, which is related to AGOA, but to have it stand alone so as to separate AGOA from any lengthy negotiations or controversial pieces

of proposed legislation that could harm or delay its chance of being reauthorized in a timely fashion. The visit was successful in establishing a better understanding of the importance of the AGOA and its expeditious renewal, and the importance of trade and investment occurring on a predictable and certain basis.

The representatives of the US Administration at the US Trade Representative (USTR), National Security Council (NSC) and State Department all reiterated President Obama’s strong commitment to a long extension of AGOA and the readiness of his Administration to do everything it can to ensure that AGOA reauthorization happens quickly. AGOA enjoys a great deal of bipartisan and bicameral support, and US Government officials from the Administration and Congress indicated that the key question was not whether AGOA would be renewed, but when, how, and what legislative vehicle should be used.

The Administration and some Members of Congress also attached great importance to the enhancement of AGOA, to increasing and expanding its utilization, and to increasing its role in fostering deeper regional integration. Currently, most countries that are AGOA-eligible export using the preferences available under AGOA. However, while almost 900 different types of products were exported, this is still less than the 6,400 product-lines available, and one-third of these product-lines saw exports below $20,000. These numbers seem to indicate that, while countries are better utilizing the benefits available and new export product sectors are developing, there are still barriers to fully utilizing and scaling product exports.

As stated by the UN Economic Commission for Africa (ECA), these flows still do not reflect the economic relationship that should exist between the world’s largest

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economy, and the world’s fastest-growing region. Supply-side challenges and problems complying with US market requirements still remain. The uncertainty and fixed duration of AGOA preferences also results in diminishing incentives for American firms to trade with and invest in Africa.

Making US-Africa trade more effective and addressing supply-side weaknesses requires a comprehensive focus on incorporating trade capacity and trade facilitation provisions into AGOA and individual country trade development strategies. There are some resources currently provided to AGOA-eligible countries to address these constraints, like the USAID Trade Hubs that work to enhance AGOA utilization and assist with sector export strategies.

The delegation highlighted the efforts that are currently being made by individual countries to increase their utilization of AGOA’s benefits. Many countries have already created and others are currently developing or updating their national AGOA export strategies.

During the course of this year the African Development Bank under the Africa Trade Fund (AfTRA) hopes to support the development of two national AGOA Strategies for Côte d'Ivoire and Malawi to enhance utilization of US trade preferences. Producers are also increasing their collaboration with the USAID trade hubs. For example, the West Africa Trade Hub is targeting support towards value chains for cereals, cashew, shea, apparel and mango. There is, however, always scope to scale up support.

The African Union mission, the African Ambassador Group and the African Development Bank will continue to work closely with key members of the private sector and civil society and policy-makers to advocate for and highlight the importance of AGOA’s renewal in the first quarter of 2015.

Source: AfDb 2015

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Report Dissects Brand Success in Africa

BY VALENTINE MULANGO‫‏‬

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or brands eager to tap into the growing African markets and the region’s estimated 350 million middle class consumers, relying solely on macro-economic data such as GDP growth, population trends and regulatory governance data to identify opportunities and predict success can lead to costly missteps, according to a new report from Nielsen. Nielsen Holdings N.V. is an American global information and measurement company with headquarters in New York (USA) and Diemen, the Netherlands.

The findings, which are featured in Africa: How to navigate the retail distribution labyrinth – a new report released this week – show it is the companies that combine retail data from both modern and traditional trade and consumer shopping behavior with broader macro-environment indicators that are better positioned to identify the right markets, products, marketing and retail execution strategies that lead to sustainable growth and profitability in Africa.

“Conventional knowledge has held that where there is growth in population and GDP, and a stable business environment, a brand can succeed by being launched in the market. Those insights alone don’t provide a complete picture of Africa’s consumer opportunities,” Head of Africa for Nielsen Allen Burch said in a statement.

“We found that successful consumer brands in Africa understand three key pieces of retail information: who shops where and for what, which retail outlets are the best for the product to generate sales, and how

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Head of Africa for Nielsen Allen Burch

to build demand amongst retailers and consumers.”

In 2013 Nielsen began conducting a quarterly analysis of consumer, retail and business outlook data, as well as macro-economic data across seven Sub-Saharan countries – Nigeria, Kenya, Ghana, South Africa, Tanzania, Uganda and Zambia – with plans to expand to additional countries over time. Historically, one complaint has been the lack of market data within Africa.

“Without that insight, even companies with the right products for the right market can fail to get them in the right stores, leading to poor sales growth.

By bringing together the standard macro-economic indicators with more granular consumer, retail and business data, it is possible to solve the distribution challenges that are so central to success in Africa,” Nielsen said in a statement. The report notes that for most of Africa, the percentage of sales

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through modern trade is still small. “While international retailers are making investments in modern trade formats, traditional retail, like the kiosk and table top – a stall set up on the roadside or in a local market area to capture passing trade – is where the majority of consumer retail transactions occur.

Even in South Africa, which has the most modern trade within Sub-Saharan Africa, 40 percent of sales come from traditional retailers,” the report adds.

While the preferred traditional retail channel varies by country (i.e. table tops, kiosks, market stalls, grocer, etc.), traditional retail outside South Africa accounts for roughly 90 percent of all consumer goods spending within the region. What a given retailer stocks, in what quantity, the price, the supplier and how often stocks are replenished, varies by retail format. This also influences the purpose and frequency of consumer visits, the report says.

Understanding the willingness of Africa’s consumers to try new products, the report notes, is also essential.

“With six of the 10 fastest growing economies in the world located in Sub-Saharan Africa, and populations that are growing in size and spending power, there is tremendous promise and opportunity for consumer brands in Africa.

Companies – be they global multinationals or the rapidly growing slate of home-grown African brands – that look beyond macro-environment data will be best positioned to meet the needs of consumers in this important region,” said Burch.

LOGISTICS

Air Cargo Africa 2015, Opportunities are bigger than challenges

D

uring the roundtable session 1 at Air Cargo Africa 2015, moderated by Glyn Hughes, Global Head of Cargo, IATA, panelists delved on Africa’s role in global air cargo. Fitsum Abady, managing director of Ethiopian Cargo provided some interesting figures and statistics for the audience to reflect upon. “Africa has a lot of potential for growth as the 2nd fastest growing continent experiencing 6 percent GDP growth for the next decade.” Determining the importance of logistics to the African continent, he added that the region currently accounts for 42 percent of gold, 12 percent oil and 90 percent of the diamond reserves.

It was discussed that despite the challenges in terms of infrastructure, closed borders, the key is to focus on the opportunities but with a local know-how. “There should be a combination of global knowledge as well as local knowledge,” said Markus Muecke, global head air freight tradelane management and procurement at Panalpina.

Barry Nassberg, group chief operating officer of Worldwide Flight Services opined that opening of new markets goes hand in hand in driving the logistics in the continent.

“We are in very early stages of seeing these developments. We see growth in Asia-Africa trade, and China-Africa trade growth is staggering from what it used to be a decade back. But what we are going to see

U.S AFRICA TRADE

is the increasing growth rate in the South-South trade.” As Africa’s middle class continues to grow, air cargo is going to be the major force of trade for the continent, noted Abady. In terms of challenges, he also said that directional imbalance in African market is a challenge that should be addressed, but “opportunities are bigger than challenges” With pharmaceuticals being a major import commodity into Africa, Hughes pointed out that shippers are getting sophisticated and they are now monitoring and measuring their shipments. “They demand visibility and better control on their assets.”

Though Africa is a very developing region tremendous with opportunity, Ulrich Ogiermann chief officer cargo of Qatar Airways, commented that operating a dense network with high load factors is the key to go.

Apart from the key commodities, there are resources that need to go by ship taking away the focus from air cargo. “The oil and gas sector has many opportunities for specialized engineering equipment where air cargo is need of the hour,” said Oliver Evans, chairman of TIACA. Shahe Ouzounian, COO of Chapman Freeborn noted that the scenario of air cargo in the continent is changing from what it used to be decades ago. “Trend is very positive. Africa is a region with exciting opportunities.”

Source: Africa aerospace MARCH

2015

17

SECURITY

Desperation?

BY GISCARD AYISSI

With tightening security in U.S and Europe, terrorists want to establish their sanctuary in Africa. Are they going to succeed?

O

ver the past 10 years, Africa, a continent of now more than 1 billion inhabitants, has seen a decreased in political instability.

Over the past decades, unrest, punches have been less and less recurrent. In ten years, many countries have witnessed fair elections resulting in democratic transition.

With rich natural’s resources, and vast foreign investment in infrastructures, health and education, the continent became a new frontier. However, in recent years, terrorism has become a new reality in Africa. A term that is now at the center of most state

18

policy. If the Western countries such as U.S and Europe have the best intelligence and capability to fight the secular evil, Africa is less equipped.

Africa, has been a growing threat to international shipping. While bearing all aspects of organized crime, piracy remained a complex issue overcome by combining political and

OVER THE PAST 10 YEARS, AFRICA HAS BEEN A SCENE A CONTINENT OF NOW MORE THAN 1 BILLION INHABITANT HAS SEEN A DECREASED IN POLITICAL INSTABILITY IS AFRICA THE NEW SANCTUARY FOR TERRORISM? Since the mid-2000s, piracy in the Western Indian Ocean, specifically in the horn of

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2015

diplomatic efforts with military. U.S led coalition against Al shabab has been very efficient to fight against piracy, a war that seems to be won. The most recent attack in

Nairobi Mall, in September 2013, where several shoppers were killed seems to show that Al shabab’s fight has been moving to a different front. November last year, Al-Shabab fighters hijacked a bus in Kenya's north and killed 28 people.

Another hit from terrorists in Libya with the ousting of Kaddafi. On the evening of September 11, 2012, Islamic militants attacked the American diplomatic compound in Benghazi and murdered U.S ambassador in Benghazi. Recently, the World was astonished on February 18, 2015, when a masked jihadi led the executions of 21 Egyptian Christians. Another terrorist group making the news in Africa is Boko Haram; which was founded in 2002 in Nigeria.

Boko Haram emerged out of nowhere to become the notorious terrorist group in Africa.

Since 2002, their popularity has grown and the groups has done everything to establish its notoriety. From multiple attacks of Nigerian Villages that resulted in thousands of civilian’s deaths and mass displacement of civilians, the group has grown to become invasive.

Last year, they tried many incursions in the Cameroonian, Chad, and Niger territory, challenging Africa Union and international community. Meanwhile, last month, in Mali, masked gun men opened fire in a bar in the capital killing 5 foreigners, and in Tunisia on March 18th, a Tunisian museum was storm with bullets leaving 19 foreign people dead.

To all these bloody events, one thing is sure, Africa is the new sanctuary for terrorism.

WHAT TO EXPECT IN THE FUTURE Last month incident in Tunisia reminds us how volatile security is in Africa. Out of tumultuous independence and long war, the continent entered a new era. The era

within the Peace and Security Department of the Commission and the African Centre for the Study and Research on Terrorism.

September of 2014, African leaders met in Nairobi to discuss how to tackle terrorism and extremism across the continent; a first summit organized by the African Union on this topic. The Nairobi security summit

To better tackle terrorist in Africa, Africans leaders understood that to share the wealth of the countries with the mass of the population. The international community, along with the U.S should better promotes good governance to reestablish or to foster the establishment of democracy. of secular “terrorcratik”, where terror is the mean to rule and a way of expression.

Across the continent, the feeling of rupture with the painful past of colonialism and war is perceptible.

Even though terrorism took Africans by surprise, the riposte is significant. The synergy against terrorism in Africa keeps growing. Organization of African Union (OAU) has taken many resolutions to fight terrorism. Following its Plan of Action, the Protocol to the OAU Convention on the Prevention and Combating of Terrorism, provided further that the Commissioner of the PSC be assisted by a Unit established

U.S AFRICA TRADE

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was attended by six heads of state -- from Nigeria, Chad, Niger, Kenya, Tanzania and Somalia as well as leaders from several other African countries. Seven months later, the extraordinary summit of Heads of State of the Economic Community of Central African States, known as ECCAS on the fight against the terrorist sect Boko Haram was held in Yaoundé. Africans, in each countries are massively denouncing terrorism. After colonialism and wars, Africans are more preoccupy with planning their future. Any attempt to turn the gear against stability and better future, away from keeping peace, will be rejected massively.

2015

19

INITIATIVE

U.S Supplier Seals Mega Housing Deal With Nigerian State

BY VALENTINE MULANGO

N

igeria - Africa’s economic giant - is still waxing strong, despite a tensed socio-political climate. One of such booming business sectors is the r eal estate wher e International Green Structures (IGS Ltd) and Nigeria's Countrywide Housing Company (CHC Ltd) in along with the Nigerian delegation met recently with the Export-Import Bank of the United States about a $5.7 million pilot project to build sustainable housing in Kano, Nigeria.

The agreement offers prime example that business goes on despite Nigeria's current challenges, including a close presidential election, Boko Haram violence, and depreciating currency due to falling oil prices.

His Highness Muhammadu Sanusi II, Emir of Nigeria’s Kano state, led a powerful delegation to the United States to ink the deal. The project, which is to build 504 low-cost houses in Kano, is supported by PricewaterhouseCoopers (PwC) in West Africa.

“We are honored to be entrusted by His Highness Muhammadu Sanusi II to be a part of the drive to solve the housing crisis in Nigeria,” IGS CEO Richard China stated in a release. IGS is an American company that offers a unique technology to use rice straw and other agricultural waste products to create quality building materials. The IGS housing structures, which will be assembled in a matter of days upon delivery, are expected to be one of the first housing developments to take shape in Kano with a US manufacturer and supplier. Nigeria has an urgent need for effective affordable housing

20

THE CURRENT BUSINESS DEAL BETWEEN IGS AND CHC IN KANO WAS INITIATED AT IGD'S 2014 FRONTIER 100 FORUM IN NEW YORK, WHERE IGD BROUGHT TOGETHER IGS AND PWC TO DISCUSS A POTENTIAL PARTNERSHIP IN WEST AFRICA AIMED AT ADDRESSING THE REGION'S HOUSING CRISIS. solutions. According to The World Bank, Nigeria would need 17 million houses to address the current housing deficit crisis.

This housing crisis is particularly acute in Nigeria's northern regions, including Kano State. “We believe housing will address some of the underlying issues in the economy, and see that IGS offers us one of the most cost effective and best quality solutions,” Emir Muhammadu Sanusi II who is also former Central Bank Governor of Nigeria said in a statement.

The current business deal between IGS and CHC in Kano was initiated at IGD's 2014 Frontier 100 Forum in New York, where IGD brought together IGS and PwC to discuss a potential partnership in West Africa aimed at addressing the region's housing crisis. "We were pleased to bring these two parties together as housing is a crucial driver of an economy and an essential element in

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2015

building a strong middle class,” noted Dr. Mima Nedelcovych, CEO of IGD. Nigeria is currently facing several serious challenges, including a closely contested presidential election, violence from Boko Haram, and a depreciating currency due to falling oil prices. “This important agreement and the visit of His Highness Muhammadu Sanusi II to the United States prove that despite these challenges, business in Nigeria continues,” added Dr. Nedelcovych.

The Initiative for Global Development (IGD) is an organization that drives poverty reduction by catalyzing business growth and investment in the developing world. IGD brings together an influential Frontier Leader network of CEOs and senior executives with the interest and capacity to make strategic investments in high-need, high-potential regions of Africa. IGD's signature Frontier Leader Network, which includes companies such as IGS and PwC, shape global frontier insights, promote business-driven development, and create economic growth in Africa.

For its part, International Green Structures (IGS) offers a total economic model that solves the global housing crisis. By converting agricultural residue into durable panels and pairing it with pre-engineered framing system, IGStructures can be produced creating green, innovative structures for houses, schools and health care facilities. IGStructures are ideal for permanent or temporary housing, rapid response, and global humanitarian structures.

Photo caption: IGS CEO Richard China and His Highness Muhammadu Sanusi II, Emir of Nigeria’s Kano state in Washington DC during the agreement signing.

ENERGY: Nigeria looking for new source of revenue away from oil

BY JUMA

W

ith petroleum accounting for 9 0 pe rce n t of t h e country’s export revenue, the need for diversification is an imperative if the country want to stabilize its economy. Several factors point to this evidence. The volatility of oil price in the last few years has being detrimental to Nigeria annual budget. Last January the price of oil was below $50 dollars hitting hard most OPEC members like Nigeria.

One of the way out is Gas exploration that the country. Nigeria has among the largest reserves of gas in the world, but the stateowned. Here finance is a problem. So far the government has looked to the Nigerian National Petroleum Corporation, the state oil company, to fund big infrastructure developments. The most challenging part the limited

implication of private sector. Banks in Nigeria remained resilient to get involve in the financing of the sector, leaving the government for

the government of Abuja to seek for foreign investment situation.

AIRLINES BIZ: Kenya Airways faces inquiry after Museveni 'snub'

K

enyan lawmakers will investigate the national airline for turning down a request by Uganda's president to fly him to Nairobi, an MP has told the BBC. The investigation was needed because of the "potential embarrassment" to Kenya, Ndung'u Gethenji stated. Kenya Airways declined a request by President Yoweri Museveni to pick him up from his home town in western Uganda on February 20th. The airline said the incident was regrettable, Kenyan media reports.

'DAMAGE RELATIONS' President Museveni then flew to the regional heads of state meeting, hosted by Kenya's President Uhuru Kenyatta, on an

U.S AFRICA TRADE

Ethiopian Airlines flight. Mr Gethenji said he was not aware of an official complaint against the airline. However, parliament's foreign affairs and defence committee, which he chairs, would investigate the incident as it was part of its mandate to try and "understand anything" that could potentially embarrass the government or damage relations with friendly nations, he added.

The committee also needed to know from the airline whether it was "standard industry practice" to charter flights and if it was, then why in this instance did it fail to do so, Mr Gethenji said. Kenya Airways has not said why it rejected President Museveni's request.

Source: BBC APRIL

2015

21

TOURISM

Tunis attack, another hit to Africa’s Tourism industry

M

arch 18th 2015, was a worst day for Tunisians and the entire tourism industry in Africa. Nineteen people, including 17 foreign tourists, were killed in a gun attack on the Bardo museum in the Tunisian capital, Tunis. Those killed included citizens from Japan, Italy, Colombia, Australia, France, Poland and Spain.

Also on the list of the victims two Tunisians nationals, one a police officer. Tourism in Africa has being on the spot from the second times in less than two years. Last year, with the Ebola pandemic, which affected Sierra Leone, Guinea, and Liberia dramatically impacted the tourism industry. The cost of

22

BY GISCARD AYISSI

THE TOURISM SECTOR NOW REPRESENTS 6.5% OF TUNISIA'S GDP AND PROVIDES 340,000 JOBS OF WHICH 85,000 ARE DIRECT JOBS, OR 11.5% OF THE WORKING POPULATION WITH A HIGH SHARE OF SEASONAL EMPLOYMENT this pandemic was an estimated $2 billion to airlines per day due to many trips cancellation in Africa.

The attack on Tunis tourism Museum known as Museum Bardo is another setback to the tourism industry across the continent.

The tourism sector now represents 6.5% of Tunisia's GDP and provides 340,000 jobs

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2015

of which 85,000 are direct jobs, or 11.5% of the working population with a high share of seasonal employment.

According to the World Travel & Tourism Council estimates that 3.8 million jobs (including 2.4 million indirect jobs) could be created by the tourism industry in Sub-Saharan Africa (SSA) over the next 10 years.

ON THE RADAR: U.S. Customs and Border Protection

U

BY MARYVONNE ISABELLE

.S. Customs and Border Protection (CBP) is the largest federal law enforcement agency of the United States Department of Homeland Security charged with regulating and facilitating international trade, collecting import duties, and enforcing U.S. regulations, including trade, customs, and immigration.

While its primary mission is preventing terrorists and terrorist weapons from entering the United States, CBP is also responsible for apprehending individuals attempting to enter the United States illegally including those with a criminal record, stemming the flow of illegal drugs and other contraband, protecting United States agricultural and economic interests from harmful pests and diseases, and protecting American businesses from intellectual property theft.

CBP has a workforce of over 58,000 employees, including officers and agents, agriculture specialists, aircraft pilots, trade specialists, mission support staff, and canine enforcement officers and agents.

More than 21,180 CBP Officers inspect and examine passengers and cargo at over 300 ports of entry. Over 2,200 CBP Agriculture Specialists work to curtail the spread of harmful pests and plant and animal diseases that may harm America’s farms and food supply or cause bio- and agro-terrorism.

Over 21,370 Border Patrol Agents protect and patrol 1,900 miles of border with Mexico and 5,000 miles of border with Canada.

There are 327 officially designated ports of entry and an additional 14 pre-clearance locations in Canada, Ireland and the Caribbean.

CBP is also in charge of the Container Security Initiative, which identifies and inspects foreign cargo in its origin country before it is to be imported into the United States.

CBP also works with the U.S Food and Drug Administration to screen high-risk imported food shipments in order to prevent bio-terrorism/agro-terrorism.

Through the Container Security Initiative (CSI), CBP works jointly with host nation counterparts to identify and screen containers that pose a risk at the foreign port of departure before they are loaded on board vessels bound for the U.S. CSI is implemented in 20 of the largest ports in terms of container shipments to the U.S and at a total of 58 ports worldwide.

U.S AFRICA TRADE

OPINION: Reasons to invest in Africa

BY GISCARD AYISSI

S

ub-Saharan Africa is home to six of the world's 10 fastest-growing economies, and its middle class is set to triple to more than one billion people in the next half-century. About 42 percent of Africans will be earning between $4 and $20 a day (as opposed to $1 or $2, the general definition of "living in poverty") by 2060, according to a report from the African Development Bank. Many reasons can justify any investment initiative in Africa. -It's population is also incredibly young -- more than half of Africans are under 20 -- so in a few decades it will have a massive working-age population. -The continent large natural resources is another points of attraction that required investment.

That is the reason why mining in Africa grows, According to a recent report by the African Development Banks, Africa's growth tends to be concentrated on a limited range of commodities and the extractive industries. Most Africa commodities are trading well.

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23

TRADE AGENDA

MGTA SEMINAR: Afro Food 2015 Date: May 14-17, 2015 Where: Cairo, Egypt register: afrofood.net E-Mail: info@ afrofood.net.

AISTECH 2015 When: May 4-7, 2015 Where: Cleveland Convention Center, Cleveland, Ohio Registration: Email: memberservices@aist.org, Phone: +1.724.814.3000-Fax: +1.724.814.3001

MGTA SEMINAR: Importer Security Filing (ISF) Where: Target Corp.

(Target North Campus Location) 7000 Target Parkway North Room NCE-1420 Brooklyn Park, Minnesota 55445 United States

WORLD ECONOMIC FORUM ON AFRICA 2015 Where: Cape Town, South Africa When: 3-5 June 2015

OFFSHORE TECHNOLOGY CONFERENCE

AIRCARGO AFRICA Where: in Nairobi, Kenya at the Kenyatta International Conference Center When: from the 2 - 4th of May 2015 Registration: www. expogr.com/ buildexpokenya Contact: Corporate Headquarters Level 25, Office Number: 2514, Monarch Office Tower, P.0. Box - 333840, One Sheikh Zayed Road, Dubai - UAE Tel : +971-4-3721421 Fax : +971-4-3721422 Working Hours : 9 AM - 5:30 PM (UTC+04:00)( Saturday to Thursday)

Date: May 5-8, 2014 Reliant Center Convention Center Houston, TX, OTC 2014 Founded in 1969, the Offshore Technology Conference organizes the world's foremost events for the development of offshore resources in the fields of drilling, exploration, production, and environmental protection. OTC is held annually at Reliant Center in Houston.

OTC ranks among the largest 200 trade shows held annually in the United States and is among the 10 largest meetings in terms of attendance.

24

U.S AFRICA TRADE

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2015

U.S. Commercial Service Trade Winds – Africa When: September 14 21, 2015 Business Development Conference and Trade Mission, Angola, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Africa, Tanzania

international trade administration When: September 1421, 2015 Trade Mission to Angola, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Africa and Tanzania in Conjunction with Trade Winds-Sub-Sahara Africa.

SPOTLIGHT

Gabon

BY FRANCIS IVO

L

ocated In the west coast of Africa ,astride the Equator, Gabon is one of the region's more stable countries. A former French colony, which gained its independence in 1960 and 2009, the country has made its economy on oil- and political stability. Gabon's economy is dominated by oil. Oil revenues comprise roughly 46% of the government's budget, 43% of gross domestic product (GDP), and 81% of exports.

Oil production is now declining rapidly from its high point of 370,000 barrels per day in 1997.The economy is also highly dependent on extraction of abundant primary materials. Prior to the discovery of oil, logging was the pillar of the Gabonese economy. Today, logging and manganese mining are the other major income generators. Recent explorations point to the presence of the world's largest unexploited iron ore deposit. Due to its oil exports and a small population, the country enjoys more wealth per head of population than many of its neighbors.

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25

CURRENCY SNAPSHOT

CURRENCY SNAPSHOT

AFRICAN CURRENCIES CURRENCIES VERSUS VERSUS U.S U.S AFRICAN Currency Name

Currency Code

In U.S Dollar ($ 1=)

(sorted alphabetically)

Algerian Dinar

DZD $1= DZD

83.3083 DZD

LIBERIA

Country / Entity

(sorted alphabetically)

ALGERIA ALGERIAN DINAR

DZD

Currency Code

In U.S Dollar ($ 1=)

Liberian Dollar

LRD

84.56 LRD

LIBYA

Libyan Dinar

LYD

1.32 LYD

MADAGASCAR

Malagasy Ariary

MGA

2584.85 MGA

MALAWI

Kwacha

MWK

465.00 MWK

MALI

CFA Franc BCEAO †

XOF

556.52XAF

MAURITANIA

Ouguiya

MRO

291.00 MRO

MAURITIUS

Mauritius Rupee

MUR

31.80 MUR

MOROCCO

Moroccan Dirham Mozambique Metical Namibia Dollar

MAD

9.12 MAD

MZN

33.9894 MZN

RWF

686.000 RWF

ANGOLA

Kwanza

AOA

103.049 AOA

ARUBA

Aruban Florin

AWG

1.79000 AWG

BENIN

CFA Franc BCEAO †

XOF

556.52XAF

BOTSWANA

Pula

BWP

BURKINA FASO

CFA Franc BCEAO †

XOF

9.50796 BWP 556.52XAF

BURUNDI

Burundi Franc

BIF

1,568.00 BIF

CABO VERDE

Cabo Verde Escudo

CVE

1,568.00 CVE

MOZAMBIQUE

CAMEROON CENTRAL AFRICAN REPUBLIC CHAD

CFA Franc BEAC ‡

XAF

556.52XAF

CFA Franc BEAC ‡

XAF

556.52XAF

CFA Franc BEAC ‡

XAF

556.52XAF

COMOROS

Comoro Franc

KMF

CFA Franc BCEAO †

XOF

CONGO CONGO, DEMOCRATIC REPUBLIC OF THE CÔTE D’IVOIRE

CFA Franc BEAC ‡

XAF

409.954 KMF 556.52XAF

NAMIBIA SOUTH AFRICAN RAND (ZAR) ALSO ACCEPTED NIGER NIGERIA

Naira

183.45 NGN

STD

20.360.00 STD

XOF

556.52XAF

SEYCHELLES

Seychelles Rupee

SCR

556.52XAF

SIERRA LEONE

Leone

SLL

4230.00SLL

SOMALIA

Somali Shilling

SOS

724.95 SOS

SOUTH AFRICA

Tanzanian Shilling

1107.05 TZS

RAND

ZAR

TZS $1= ZAR

XOF

556.52XAF

DJIBOUTI

Djibouti Franc

DJF

178.000 DJF

EGYPT EGYPTIAN POUND EQUATORIAL GUINEA ERITREA

CFA Franc BEAC ‡

XAF $1= EGP

515.001XAF

Nakfa

ERN

10.4700 ERN

SOUTH SUDAN

ETHIOPIA

Ethiopian Birr

ETB

20.3500 ETB

GABON

XAF

SUDAN

CFA Franc BEAC ‡

GAMBIA

Dalasi

GMD

515.001XAF 42.6000 GMD

GHANA

Ghana Cedi

GHS

3.21500 GHS

GIBRALTAR

Gibraltar Pound

GIP

0.652422 GIP

GUINEA

Guinea Franc

GNF

7,2115.00 GNF

LSL

11.0342 LSL

LESOTHO

Loti South African Rand (ZAR) also accepted

XAF

GWP

556.52XOF

92.4999 LRD

KES

90.7500 KES

LSL

11.7059 LSL

U.S U.SAFRICA AFRICATRADE TRADE

556.52XAF 689.00 RWF

CFA Franc BCEAO †

CFA Franc BEAC ‡

13.6858 SCR

RWF

556.52XAF

10.4700 ERN

NAD

NGN

CDF

EGP

NAD

RWANDA Rwanda Franc SAO TOME AND Dobra PRINCIPE SENEGAL CFA Franc BCEAO †

Franc Congolais

GUINEA-BISSAU Guinea-Bissau Peso CFA FRANC BCEAO ALSO GWP ACCEPTED KENYA Kenyan Shilling

26 30

8.8454 AOA

Currency Name

Country / Entity

515.066 XOF

South Sudanese Pound Sudanese Pound

SDG

5.69 SPG

SWAZILAND TANZANIA, UNITED REPUBLIC OF TOGO

Lilangeni

SZL

11.70 SZL

Tanzanian Shilling

TZS

1738.45 TZS

CFA Franc BCEAO †

XOF

556.52XAF

TUNISIA

Tunisian Dinar

TND

1.88 TND

UGANDA

Uganda Shilling

UGX

2784.00 UGX

ZAMBIA

Kwacha

ZMK

5250.81 ZMK

ZIMBABWE

Zimbabwe Dollar

ZWD

361.900 ZWD

SSP

$ 1 = SSP

Source: International Standards Organization. T is currency list table data was last updated January 2015

APRIL JANUARY

2015 2015

AFRICA IS THE NEW FRONTIER

54

states, Investment Opportunities Join other U.S companies already established in Africa Let us be part of your success. Find better place to Export in Africa with us.

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