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News Digest from Africa
Based on the recent news, we are able to highlight that African states are willing to promote green economy and sustainability. States including Senegal, Egypt, Nigeria, Morocco, Kenya show developments in economic sphere, relieving restrictive measures that do not allow to attract FDIs and promote private sector possibilities. Also, Morocco is willing to boost its tourism sector with the development of its national carrier RAM.
06/07: Senegal to lift restrictive taxes and customs to attract investors.
Senegalese President Macky Sall promised investors that "difficult and repressive" customs and tax rules would be reformed as the state nation seeks to lure more foreign capital. He stated that Senegal had to simplify its administrative processes to make its business climate more attractive.
10/07: LeapFrog plans to invest $500 million in Asian, African climate transition firms.
Sustainability-focused asset manager LeapFrog Investments said it plans to invest $500 million in companies addressing climate change in Asia and Africa, with projects it hopes will reach up to 50 million low-income people. The representatives state that some tech now 30-40% cheaper than high-carbon alternatives so it is a lucrative prospective to invest in green technologies and sustainable businesses.
10/07: Morocco named pre-qualification firms in 400 MW solar project.
Morocco's renewable energy agency Masen said on Monday six consortiums pre-qualified to build a 400-megawatt solar plant in the Atlas mountains, dubbed Noor Midelt II.
11/07: State-owned Nigerian National Petroleum Co. Ltd. will launch an initial public offering (IPO) soon.
NNPC runs joint venture operations with major oil companies. Company’s representatives said it would be ready for an IPO by mid-2023, as it seeks to sell shares to the public. "We will go to the market and this is going to happen soon. This is the new direction, and I can confirm to you that Mr President is completely committed," Mele Kyari said at an energy conference in the capital, Abuja.
11/07: Credit rating firm S&P Global sees positive economic policy developments in Nigeria and Kenya.
Nigeria and Kenya have both had positive economic policy developments in the last couple of months, one of S&P Global's top sovereign rating analysts said on Tuesday, adding that South Africa was a slow-moving story of steadily rising debt to GDP.
12/07: Egyptian government is willing to boost private sector.
The Egyptian government announced on Tuesday it had signed a number of deals to sell off $1.9 billion dollars worth of stakes in state-owned companies. Among the sales is the country's large state-owned communications company, Telecom Egypt. This measure is part of a major privatization reform to sell stakes in at least 32 state-owned companies, from petrochemical firms to major banks, in a bid to downsize Egypt's public sector.
13/07: Morocco to expand national carrier Royal Air Maroc for tourism sector boost.
Morocco's national airline Royal Air Maroc (RAM) intends to quadruple its air fleet by the end of the next decade, in order to support the development of the tourism sector. RAM is going to quadruple its fleet from the current 50 aircraft to 200 over the next 15 years.
14.07: South African designers give new life to Western fashion waste and turn it into authentic African fashion products.
Two South African aspiring designers, Khumo Morojele and Klein Muis, buy clothes at second-hand street market in Johannesburg looking for fashion items. Then upcycles what they find into clothing or accessories they state express uniquely African style.
Авторы: Ладыгина-Глазунова и Хлюбко Д.