AfriKnowledgeBase

Official Twitter account for AfriKnowledgeBase. News, Knowledge and Opinions about Africa.

Email: [email protected]

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Have ever considered cocoa cultivation in Ghana? Did the high cost of starting or lack or expertise put you off?
Learn how you can gain exposure to the Ghanaian cocoa industry without living in Ghana.

https://t.co/2YDjfWKfqV

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Republic of Seychelles Minister of Transport, Mr Anthony Derjacques, added that SAATM would open up Africa’s skies and promote the value of aviation throughout the continent.

Source: Sun News

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At the 5-day International Civil Aviation Organization (ICAO) Air Services Negotiation Event (ICAN2022) in Abuja, Nigeria's Minister of Aviation, Sen. Hadi Sirika, stated Africa has resolved to implement a Single Air Transport Market in Africa (SAATM) to advance liberalization.

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SAATM is set to ensure aviation plays a major role in connecting Africa, promoting its social, economic and political integration and boosting intra-Africa. trade and tourism.

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Morocco is a North African country bordering the Atlantic Ocean and Mediterranean, with it's economy highly dependent on agriculture, tourism and phosphate materials.

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Morocco’s economic freedom score is 59.2, making its economy the 97th freest in the 2022 Index. Morocco is ranked 6th among 14 countries in the Middle East and North Africa region, and its overall score is above the regional average but below the world average.

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Specifically, the project will help strengthen the frameworks (strategic, policy, regulatory and conceptual) and cross-cutting (gender, climate change and resilience) dimensions for the development of Africa’s digital economy.

Source: AfDB

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The African Union Commission (AUC) and the African Development Bank have signed a $9.73 million grant agreement to implement Phase 1 of the Upstream Project for Digital Market Development in Africa.

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The project supports the AUC’s implementation of digital economy projects to enhance a continental single digital market. Phase 1 of the project runs from 2023 to 2026 & will focus on 3 main components: digital enablers; digital trade & e-commerce adoption; & support actions.

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On the other hand, late-stage deals (which more than doubled in the last year) are appearing with increasing frequency in Africa’s startup ecosystem as startups raise larger, highprofile funding rounds earlier in their funding lifecycle.

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According to the AVCA VC Mid Year Report 2022, seed stage deals continually comprise the largest proportion of VC deal volume in Africa and demonstrated a robust 97% YoY increase from the previous year.

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This means that the country is set to fully participate in the AfCFTA, and partake in enhanced opportunities for value chain development economic diversification and expansion to achieve economic transformation.

Source: UNECA

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The Namibian Government in collaboration with the Economic Commission for Africa (ECA) and the United Nations System in Namibia has launched the national AfCFTA Implementation Strategy and Action Plan for 2022 to 2027.

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This will drive AfCFTA implementation and enable the country to take full advantage of market access opportunities in the continent.

Namibia signed the AfCFTA Agreement on July 2, 2018, and deposited the instruments of ratification on February 1, 2019.

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This is to achieve the trillions needed for climate adaptation in Africa.
4. Strengthening climate and disaster risk finance and insurance mechanisms to protect vulnerable populations against climate hazards.

Source: Naira metrics

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Speaking at COP 27 on November 16, Frans Timmermans, Executive Vice President of the European Commission, announced the European Union's €1 billion in support of climate adaptation in Africa.

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1. Collection and analysis of climate risk data
2. Reinforcements of early warning systems, both at regional and national levels.
3. The development of multi and single-country proposals to mobilize international climate finance, including from the private sector.

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According to a recent report by the International Monetary Fund, the top African countries with the highest percentage of GDP growth projection for 2023 include Senegal, Uganda, Ethiopia, Mali and Madagascar.

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3. Agreement on a Compact between governments and Africa’s private sector, academia and the civil society to bring about desired and aligned policy decisions, investment financing, institutional and human capital dedicated towards Africa-Industrialisation.

Source: African Union

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The African Union Summit on Industrialization and Economic Diversification is being held in Niamey, Niger from 20-25 November.

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2. Policy decision for an AU-led, cross-sector consultation to develop an up-to-date, implementable and results-based Africa-Industrialisation Policy Framework.