Foreign direct investment (FDI) in Africa reached a record $83 billion in 2021, but declined to $45 billion in 2022, accounting for 3.5% of global FDI flows.

South Africa led the continent in FDI inflows in 2021, attracting $40.9 billion, primarily in mining and energy sectors, while Egypt ranked second with $5.1 billion, driven by green projects and real estate investments.

Emerging destinations like Mauritius and Rwanda have gained attention for their stable business environments and regulatory frameworks, fostering growth in private wealth and investment opportunities.

Key industries attracting foreign investment include renewable energy, agriculture, and mining, with countries like Namibia and Zimbabwe focusing on green hydrogen and critical minerals for energy technologies.

Major foreign companies investing in Africa include Toyota, Samsung, and Indian firms, targeting sectors such as automotive manufacturing, electronics, and agriculture.

The African Continental Free Trade Area (AfCFTA) is expected to boost foreign investment by creating a $3.4 trillion single market and reducing trade barriers.

African entities have formed partnerships with foreign firms, such as Algeria’s collaboration with Formosa Plastics Group and Mozambique’s expansion in medical materials with Mingji Sanfeng.

Special Economic Zones like Morocco’s Tanger-Med SEZ have attracted world-class investors, creating jobs and fostering industrial growth.

Graduates can leverage opportunities in sectors like sustainable finance and SEZs, aligning their skills with foreign investors’ focus on compliance and innovation.

Foreign direct investment (FDI) in Africa reached a record $83 billion in 2021, but declined to $45 billion in 2022, accounting for 3.5% of global FDI flows.

Title:

Content: FDI flows to North Africa down 5% in 2021
Foreign direct investment to North Africa fell 5 percent to $9.3 billion for the whole of 2021, according to a report on “Investing in the World ” released by the United Nations Conference on Trade and Development (UNCTAD) on June 9, 2022.
These investments, towards Tunisia, improved slightly from $652 million in 2020 to $660 million in 2021.
The same investment to Morocco increased by 52 percent to 2.2 billion dollars in 2021, compared with a 12 percent drop to 1.5 billion dollars in Egypt.
Despite the decline in these investments in Egypt, it remains the second country to benefit from the inflow of foreign direct investment in Africa.
According to the same report, the flow of foreign direct investment in Africa reached a record level of $83 billion for the whole of 2021, more than double the investment achieved for the whole of 2020.
Despite this significant growth, the flow of investment to Africa in 2021 represented only 5.2 percent of the global total, compared to 4.1 percent in 2020.
Most African countries saw a slight increase in foreign direct investment (FDI) in 2021.
These investments developed in South, East and West Africa, while they maintained their previous levels in Central Africa, while declining in North Africa.
Europeans remain the most important investors in Africa, led by investors from the United Kingdom ($65 billion) and France ($60 billion).
Increased investments in renewable energy
Despite the overall positive trend of foreign direct investment towards Africa, the announcement of new projects remained weak at $39 billion and shows only a weak recovery compared to $32 billion recorded in 2020 and less than $77 billion recorded in 2019.
In parallel, the number of international projects in the field of renewable energies in Africa increased to an estimated 71 projects, almost double the 36 projects completed in 2011.
Among these projects is a $20 billion project that aims to export wind energy to the UK from Morocco.
By laying 3,800 km of submarine cables.

What was the total FDI inflow to Africa in 2022 and how did it compare to 2021?

$45 billion, which was down from $80 billion in 2021

South Africa led the continent in FDI inflows in 2021, attracting $40.9 billion, primarily in mining and energy sectors, while Egypt ranked second with $5.1 billion, driven by green projects and real estate investments.

Title:

Content: AFED: EGYPT RECEIVED $5.1 BILLION INVESTMENTS IN 2021
GDP growth is expected to rise to 4.4% this year
Abdulrahman Abu Al-Enein
6: 52 AM, Wednesday, 31 May 23
Recent data issued by the African Development Bank (AfDB) revealed that Egypt ranked second in terms of foreign direct investment flows in the continent in 2021 and attracted nearly $5.1 billion.
According to the Africa Economies Outlook 2023, South Africa was the largest recipient of foreign direct investment in 2021 with investments of more than $40.9 billion, nearly half of the total inflows to the continent in that year, followed by Egypt and Mozambique, which each attracted nearly $5.1 billion, representing about 6.2% of the total volume.
In the same context, the report expected Egypt ’ s GDP growth rate to decline to 4.4% this year from 6.6% estimated last year, and to rise to 5.1% next year.
The report pointed out that the inflation rate rose from 4.5% in the fiscal year 2020 / 2021 to 8.5% in the fiscal year 2021 / 2022 due to the rise in food and energy prices globally and the devaluation of the pound against the dollar.
He said that the current account deficit shrank to 3.5% of GDP in the fiscal year 2021 / 2022 compared to 4.4% in the previous fiscal year 2020 / 2021 due to the rise of tourism revenues to 10.7 billion dollars against 4.9 billion dollars, respectively.
The African Development Bank pointed out that the banking sector remains profitable and well capitalized, noting that the rate of non-performing loans reached 3.2% in June 2022, explaining that subsidies and social protection programs have reduced the impact of high food and energy prices on vulnerable families.
The Minister of Planning Hala Al-Said said in previous statements that despite the current effects of the Russian-Ukrainian crisis, which is likely to spread over the next year, the Egyptian economy is expected to grow by 4.2% by the end of the current fiscal year 2023-2022.
Al-Saeed said that with the development of inflationary trends in the Egyptian economy and despite the success of the state in curbing it and reducing it from very high levels (25% in 2017-2016) to less than 5% in 2021-2020, the rate increased to about 15% in 2022, and continued to rise, especially after the Russian-Ukrainian crisis.
Foreign direct investment in Mozambique increased by 68% in 2021, the report said, noting that these investments were largely directed to green projects in the energy sector.
Nigeria accounted for 5.8% of FDI inflows to Africa and Ethiopia 5.1% despite economic challenges.
The bulk of foreign direct investment in these countries is increasingly going to clean energy resource projects.
Mauritius and South Africa recorded the largest outflows in 2021, but a few countries recorded net inflows, including Egypt ($18 billion) and Nigeria ($5.9 billion).
The Bank estimates that capital flight through net investment outflows continued in 2022 at around $28 billion, which is close to the 2021 level due to higher interest rates linked to deflationary monetary policies in developed countries.
Official development assistance (ODA) to Africa stabilized at $65 billion in 2021 after the previous 28 percent jump in 2020.
The significant increase in such assistance since 2020 reflected the support provided by the international community to help African governments address the humanitarian, social and economic impacts of the coronavirus epidemic and the difficult global economic conditions.
The African countries that saw the largest increase in ODA in 2021 included Egypt (428%), Equatorial Guinea (115%), Angola (109%), Gabon (82%) and Sudan (60%).
The report pointed out that official development assistance to Egypt during 2021 amounted to about 8.2 billion dollars, Ethiopia 4 billion dollars, Sudan 3.8 billion dollars, the Democratic Republic of the Congo 3.5 billion dollars, Nigeria 3.4 billion dollars, and Kenya 3.1 billion dollars.
African countries need to leverage this external support to address existing vulnerabilities and build more resilient economies, given the risks that advanced economies are reallocating resources for reconstruction and humanitarian assistance in Ukraine at the expense of meeting the continent ’ s official development assistance commitments.
Ukraine received $16.1 billion in net official development assistance (ODA), equivalent to 7.8 percent of the total aid resources provided last year.
It is noteworthy that the report was launched in light of the annual meetings of the African Development Bank Group held under the auspices of President Abdel Fattah El Sisi in Sharm El Sheikh from 22 to 26 May.

Emerging destinations like Mauritius and Rwanda have gained attention for their stable business environments and regulatory frameworks, fostering growth in private wealth and investment opportunities.

Title:

Content: Archive / Global News
World Today – Two small countries driving strong growth in Africa ’ s private wealth
You are now following the news of two small countries driving strong growth in Africa's private wealth from the World News section and now we leave you with the full details
MOHAMMED, Abu Dhabi, March 4, 2023 09: 22 PM – Rwanda and Mauritius combined account for less than 5 percent of Nigeria ’ s GDP, but the two small countries are driving strong growth in private wealth in Africa which is expected to rise to $3 trillion by 2031 from the current 2.1 trillion.
According to Henley Global Consulting ’ s Africa Private Wealth Report, Africa ’ s smaller and better-regulated economies are fast becoming centres of wealth and home to more millionaires on the continent.
Private wealth in Mauritius is expected to grow by 80 percent over the next 10 years, compared with 60 percent for Rwanda.
Great for Mauritius.
The number of high net worth individuals in Mauritius will reach more than 8,000 by 2031, making it one of the fastest attracting markets for high net worth individuals in the world, along with Australia, New Zealand, Switzerland and Malta.
In 2022, Mauritius became the first African country in terms of per capita wealth, due to the significant growth in the number of wealthy people who have flocked to it in recent years, taking advantage of the easy environment to do business, with Mauritius ranked 13th globally in the latest World Bank report on the indicators of the business environment; and ranked by the New World Index as the safest country in Africa.
Adult Retreat
As small countries attract more wealth, countries that have historically been the epicenter of private wealth in Africa are experiencing a steady exodus of millionaires.
Over the past 10 years, about 4,500 people with more than $1 million have left South Africa.
Although South Africa remains a major bastion of wealth in Africa, with a strong market for luxury real estate and wealth management services, it has faced significant economic and security challenges in recent years.
Of the 2,668 billionaires in the world, 15 are born in South Africa, but only 5 still live there.
Nigeria, Africa ’ s largest economy, has seen a sharp decline in total wealth, having suffered in recent years from high unemployment, corruption and over-reliance on oil exports.
Positive outlook
The outlook for private wealth on the continent is largely positive, as African countries have become less reliant on extractive industries, and business conditions continue to improve in many countries.
On the other hand, rapid population growth is a magnet for financiers looking for larger consumer markets.
Khaya Munzima, editor-in-chief specializing in economic affairs at the South African Broadcasting Corporation, believes that the continent has a lot of potential that helps to grow private wealth, especially in the central sectors that include agriculture, mining, information and communications technology, real estate and others.
“Africa is the second largest continent in the world with a population of 1.2 billion people, which is important for consumer activities that attract private wealth. ”
“The global economy is so interconnected that it is undeniable that the impact of the Russian conflict in Ukraine has been enormous on Africa, and there is an urgent need to pay more attention to the development of the financial sector, which is a key pillar of private capital. ”
Challenging the business environment
For experts, the African countries best able to improve the business environment will be the most profitable for the most part.
The World Bank estimates that of the 35 least business-friendly countries in the world, 27 are in Africa.
In this context, experts point to several challenges that hinder financial flows to many African countries, including corruption, bribery and extortion, as well as security and political instability.
Investment consultant Khea Sithol says some African countries are treating foreign firms as tools to absorb the crises they face.
“They stalk and blackmail foreign companies when they feel they need more money, hard currency, or more taxes to run parts of the country. ”
The economic system in many African countries poses a real challenge to the wealthy, as the legal framework governing investment relations is linked to the survival or demise of power in a highly volatile political environment.
Important indicators
136,000 people in Africa have assets of more than $1 million, of whom about 7,000 have assets of more than $10 million and 305 have assets of more than $100 million.
21 individuals in Africa have net assets of more than $1 billion, most of whose investments are in real estate, mining, telecommunications, luxury goods trading and agriculture.
39,000 South Africans own $651 billion in South Africa, of which $370 billion is concentrated in Johannesburg and Cape Town, the two richest cities in Africa.
• 27% decline in private wealth in Nigeria over the past 10 years, and 10,000 private Nigerians currently own about $228 billion.
We hope to be able to convey the full details of two small countries that are driving strong growth in Africa ’ s private wealth.
In God ’ s care and protection.
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What trends are emerging for African startups in 2022?

Key industries attracting foreign investment include renewable energy, agriculture, and mining, with countries like Namibia and Zimbabwe focusing on green hydrogen and critical minerals for energy technologies.

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Content: The “green ” energy transition announced by the European Union in the name of combating global climate change requires a huge amount of cheap resources to deploy a network of renewable energy sources (RES).
Therefore, environmentally concerned politicians not only of the EU, but also of the United States, once again turned their eyes to Africa, where China is already in full control.
Bidding for Africa
Ivan Shilov © IA REGNUM
These countries are placing a big bet on Africa, hoping to meet the growing demand for renewable energy and at the same time promising the continent fantastic economic growth.
It is possible to buy green electricity from African countries: according to current estimates, solar power generation is 10 TW, hydropower - 350 GW; wind power - 110 GW.
Mozambique is considered one of the greenest countries in the world - it receives 81% of its electricity from hydropower.
However, much of Africa's energy resources remain largely untapped.
This is where foreign investors put their feet.
With the help of international consulting and investment agencies, they estimate that Ethiopia has solar and hydropower capacity of more than 60,000 MW, while in South Africa, the potential for wind power is estimated at 67,000 GW.
Having adopted the rules of the game of potential investors and decided that renewable energy is the source of their enrichment, some African countries have set themselves goals in the field of green energy development.
By 2030, Ghana aims to increase the share of its national “green ” energy balance from 42.5 MW to 1,363 MW, Angola is ready to use RES by 70% by 2025, and Senegal is doing everything possible to increase the share of RES in the country ’ s energy balance to 30% by 2030.
Windmills
Myriams-Fotos
The Paris climate agreement has forced many African governments to take the climate agenda more seriously, leading to the inclusion of RES provisions in national legislatures, including reforms aimed at encouraging foreign direct investment and private business participation in the process.
Paradoxically, for all the attractiveness of the African continent for “green ” investors, African countries are experiencing an energy crisis: currently more than 600 million people do not have access to electricity, and more than 900 million people do not have access to clean fuels for cooking.
Energy demand is growing every year across the continent due to population growth, with developing countries expected to account for more than 90% of the world ’ s population growth by 2050.
Electrifying their own territories has become a priority for many African governments, which requires significant investment, and here the whole calculation is on foreign investors.
It should not be forgotten that Africa is the second largest mining industry in the world, with many countries of the continent dependent on exploration and mining.
Already, the “green ” energy transition is orienting this industry towards the extraction of elements necessary for the production of electric vehicles, batteries and other clean energy technologies.
Although nearly 50% of South Africa ’ s export value comes from the development and trade of fossil fuels, the main focus is shifted to nickel, copper and cobalt mining – these minerals serve as important components in renewable energy technologies, and demand for them is expected to grow exponentially in the coming decades.
Countries rich in copper and nickel, such as the Democratic Republic of the Congo, Zimbabwe and Zambia, are likely to be especially loved by foreign investors.
To understand what promises these investors entry to the continent, it is enough to study the latest data on the size of mineral deposits, so necessary for the production of renewable energy.
Zimbabwe boasts the world ’ s second largest platinum deposit (2.8 billion tons) and rich chrome ore deposits (10 billion tons), as well as Africa ’ s largest lithium deposit.
The mining sector of the country is estimated at $12 billion a year.
With the growing demand for batteries, Zimbabwe is poised to become one of the world ’ s largest exporters of lithium, and is currently developing four major industrial projects.
Lithium
Dnn87
Another contender for an investment boom is Zambia, which has about 6% of the world ’ s proven copper reserves, as well as some of the richest deposits in the world, making the country the seventh largest copper producer in the world.
In addition, Zambia has prospects for uranium, gold, coal and diamonds.
The resources of the Democratic Republic of the Congo are estimated at tens of trillions of dollars - these are unused reserves of gold, cobalt, diamonds and high-quality copper.
In 2019, this South African country produced a total of 100,000 metric tons of cobalt, accounting for 70% of global production.
The country boasts some of the highest quality copper deposits in the world.
According to an E & Y report titled “Africa ’ s Attraction Program, ” Africa ’ s young, vibrant population and significant economic potential make it a tidbit for foreign investors.
However, the extraction of minerals and the construction of power plants does not mean that the lives of the African
Rather, it means more exploitation of cheap labor and enrichment of decision makers on how to dispose of the natural resources of their States.
Read earlier in this story: Africa is waiting for the irreversible consequences of the European green course
Read the development of the plot: Copper mining companies in Zambia plan to attract to gold mining

Major foreign companies investing in Africa include Toyota, Samsung, and Indian firms, targeting sectors such as automotive manufacturing, electronics, and agriculture.

Title:

Content: Japan, Korea and India experience to expand Africa, Taiwan and Africa entrepreneurs association
The “Taiwan-Africa Entrepreneurs Association ”, commissioned by the International Trade Bureau of the Ministry of Economic Affairs, attracted more than 130 enterprises interested in exploring the African market. The exhibition and consultation desk at the representative office showed that our company's desire to expand the African market is very hot.
The theme of the event was “The Key to Success for Foreign Investors (Japan, Korea and India) in Expanding Africa ”. The event was addressed by Wang Ximeng, Secretary General of the Foreign Trade Association, Liu William, Deputy Director of the Bureau of International Trade of the Ministry of Economic Affairs, Msibi, Ambassador of the Kingdom of Swaziland, and Chen Shu-fang, President of the Association of Taiwan Commerce. In addition, Hung Sheng Packaging General Manager Tang Jung-hung, Yi Ho Industrial General Manager Fu Yang-li, and Nam Wei Industrial Strategy Director Yang Wei-han analyze the development opportunities in Africa from their practical experience in the packaging, building materials, and textile industries.
Wang Ximeng, secretary general of the Foreign Trade Association, pointed out that in addition to the competition between Europe, America and China over the layout of the African continent, Japan, South Korea, India and other countries in Asia are committed to increasing investment and economic cooperation in Africa.
There are more than 1.3 million people of Indian descent in Africa, such as in East Africa, where more than 60% of the economic lifeline is controlled by Indians.
In addition, 18 of India's 25 newly established embassies and consulates are located in Africa, and India has become the fifth largest investor in Africa, while Japanese automobile manufacturers Toyota, Nissan, and electrical appliance giant Toshiba have already planted flags in Africa; South Korea's Hyundai, Samsung, LG and other large enterprises have also been stationed in Africa.
Through this event, we hope to help our business people to learn from foreign companies such as Japan, Korea and India, as well as African market leaders, and shorten the path to enter the African market.
Liu, deputy director of the International Trade Bureau, said that in recent years, the global economy has continued to be volatile due to changes in the international situation such as Sino-US trade frictions, global inflation, and the Russian-Ukrainian war, but Africa has shown great resilience during this period.
In addition, foreign direct investment in Africa reached US $45 billion in 2022, which has returned to the pre-epidemic level, indicating that confidence in investment in Africa has gradually recovered. In 2022, the total import and export value of Africa reached a new high in recent years, with imports reaching US $694.5 billion, up 14%, and exports reaching US $661.4 billion, up 19%. It is hoped that through the activities of the association, upstream and downstream companies in various industries can learn from each other and share their experiences, and work together to promote Taiwan-Africa economic and trade relations.
The event will be held in conjunction with AGOA, a major textile manufacturer in South China, and the representative offices of African embassies in Taiwan, Africa-related associations, and import and export banks providing trade and financial services. For more information, please visit africa.taiwantrade.com for more information.

Which Asian countries are investing in Africa?

Which countries are actively investing in Africa besides China?

Which international brands have a presence in Mauritius investment hubs?

Which sectors received the most foreign investment?

The African Continental Free Trade Area (AfCFTA) is expected to boost foreign investment by creating a $3.4 trillion single market and reducing trade barriers.

Title:

Content: Global investors waiting to pour in money in Africa to firewall China

By IANS | Published: August 2, 2021 02:09 PM2021-08-02T14:09:05+5:302021-08-02T14:25:34+5:30

New Delhi, Aug 2: After a tepid inflow of foreign direct investments (FDI) into Africa in 2020 amid the ...

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New Delhi, Aug 2: After a tepid inflow of foreign direct investments (FDI) into Africa in 2020 amid the Covid-19, investors are once again warming up to the continent. According to the United Nations Conference on Trade and Development (UNCTAD), FDI flows into Africa declined by 16 per cent in 2020 to $40 billion, from $47 billion in 2019.

China, the primary investor in the continent, has also slowed down its investments into the continent leaving an opportunity for other investors.

While the UNCTAD projected FDI inflow into Africa to grow this year, it said that the slow vaccine roll-out programme is a cause for concern. According to UNCTAD, FDI to the continent is projected to grow by only 5 per cent in 2021. But analysts said Africa as an investment destination has led to "an unprecedented curiosity" among other countries, which are now aggressively looking to mute China's dominance in the continent.

"Africa is critical in the new geopolitical and geo-economic contours. The continent, with its vast natural resources, offers a ready growth platform," an analyst told India Narrative.

According to a study published by Brookings Institution last week, Africa is home to 17 per cent of the world population. However, by 2050, it will have 26 per cent of the global population 2.53 billion people. "If Africa is not successfully integrated into the global economy, there could be a major threat to global prosperity and stability," the study said, adding that by 2050, the continent will be home to an estimated $16.12 trillion of combined consumer and business spending.

The African Continental Free Trade Area (AfCFTA) – the mega trade could give a push to intra-continental investment.

Touted as one of the biggest trade deals in the world, the AfCTA aims to create a single market comprising 1.3 billion people with a combined GDP of about $3.4 trillion.

Meanwhile, the US may have woken up late in recognising the potential of Africa but is making all attempts to make up for the lost time.

The Group of Seven or G7 has already decided to support US President Joe Biden's proposal of carving out a mega infrastructure plan under the "Build Back Better World" (B3W) initiative, expected to bring in transparency and sustainability. Besides, the initiative will be carried out only in consultation with local communities.

The G7 in its meeting in June also announced that it will increase its support to the Indo Pacific and Africa. "We resolve to collaborate with partners around the world, including in the Indo-Pacific and Africa, to actively promote these shared values for the good of all," said the statement.

India too has pressed the pedal on investments in the region. Sources said that the still-born Asia Africa Growth Corridor—the mega infrastructure project that was launched in 2017 to connect Asia and Africa must be revived.

Carnegie Endowment for International Peace noted that Chinese financiers committed $153 billion to African public sector borrowers between 2000 and 2019. "After rapid growth in the 2000s, annual lending commitments to Africa peaked in 2013, the year the BRI was launched. By 2019, though, new Chinese loan commitments amounted to only $7 billion to the continent, down 30 percent from $9.9 billion in 2018," it said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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What trends are emerging for African startups in 2022?

African entities have formed partnerships with foreign firms, such as Algeria’s collaboration with Formosa Plastics Group and Mozambique’s expansion in medical materials with Mingji Sanfeng.

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Content: Go to main content
Trade Association Africa Business Opportunity Day and Taiwan-Africa CEO Forum Promotes Over US $30 Million in Business Opportunities
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Foreign Trade Association held the 2023 Africa Business Opportunity Day and the Taiwan-Africa CEO Forum on the 6th and 7th, inviting 25 buyers from 10 countries including Swaziland, South Africa, Nigeria, Somaliland, Egypt, Algeria, Kenya, Rwanda, Mozambique and Ivory Coast to hold 216 talks with 96 companies, resulting in 31.48 million US dollars of business opportunities.
Major buyers include Egypt ’ s El Sewedy Group, which operates energy and wire manufacturing with annual turnover of more than US $1 billion, Algeria ’ s Conserverie Du Maghreb, which operates food processing with annual turnover of more than US $100 million, etc. Products, food processing machinery, medical materials and green energy.
Among them, Formosa Plastics Group and SARL SMTP (AGGOUN GROUP) from Algiers rope manufacturer negotiate the purchase of PP plastic raw materials; Mingji Sanfeng medical materials and Mozambique buyers successfully contact, in the future, if the "disposable dialysis consumables" successfully enter the Mozambican market, there is a chance to expand sales to other neighboring countries in Africa.
As for the theme of the "Taiwan-Africa CEO Forum" focusing on the business opportunities, challenges and market trends in Africa under the long chain - short chain - multi-chain of global supply chains, the site attracted nearly 200 companies to participate.
Guo Wenliao, president of the Taiwanese Chamber of Commerce in Nigeria, said that he is optimistic about the potential of Africa and Nigeria as a whole, and it is worth our business to actively explore deep roots.
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Which sectors received the most foreign investment?

Special Economic Zones like Morocco’s Tanger-Med SEZ have attracted world-class investors, creating jobs and fostering industrial growth.

Title:

Content: RFI Interview / African Economy
Special Economic Zones in Africa have achieved average results.
Africa – The continent of Africa has 237 Special Economic Zones (ZES-Zones Economiques Spéciales) spread across 37 countries, inheriting the Free Trade Zone.
Africa ’ s special economic zones were once thought to be the key to development, as China did three decades ago.
However, some economists in Africa and Europe have analyzed that the effect of these special economic zones is average.
This is one of the latest topics on this week ’ s RFI French-language “Chronique Afrique Economie ” column.
The head of the Senegal Economic Outlook Office feels that success stories are rare.
And Morocco has an admirable example of success.
Advertisement
On Monday, May 1, 2023, the French website RFI published a new interview by economic journalist Olivier ROGEZ in the column "African Economy", introducing the special economic zones of the African continent.
The original title of this article on the RFI column in French is: [Les Zones économiques spéciales en Afrique, un bilan mitigé].
In Chinese, it can be translated as [Special Economic Zones in Africa, with mixed results].
Below is a brief summary for sharing.
-- Morocco has a special economic zone with a global reputation -
This article in the Chronique Afrique Economie column of the French channel RFI first pointed out that in the past 20 years, the African economic zones have been plucked from the ground like grass in winter.
Kenya has 61, Nigeria has 38 and Ethiopia has 18.
In Africa, Special Economic Zones are the new name for free trade zones, but larger and more modern.
In this way, Africa hopes to replicate the model of export-oriented special economic zones in Asian countries.
But not all of them had the desired effect.
This is an analysis by the head of the Senegal Economic Outlook Office.
Morocco ’ s special economic zone in the Mediterranean port of Tanger-Med is a model around the world, the expert said.
And Mauritius, although already in a bit of a recession.
And in Ethiopia, boosted by Chinese and European investment.
In Gabon, the Nkok Special Economic Zone made a breakthrough in the timber industry.
-- Africa's Special Economic Zones have not had much success --
Most of Africa ’ s special economic zones are not specialized enough.
Morocco ’ s success story is based on professionalism.
In the automotive sector, world-class investors bring their equipment vendors and suppliers, creating hundreds of thousands of jobs.
Ethiopia, on the other hand, is heavy on textiles and leather.
-- The state needs to give full support to the Special Economic Zones -
This article in the Chronique Afrique Economie column of RFI concludes that successful SEZs are managed at the highest level with the support of the heads of state and government.
Today, 15% or even 50% of SEZs can be sold in the local market, subject to tax.
Therefore, it is necessary to adjust and encourage African products.
Therefore, the most important thing today is not exports, but the basis for developing industrial production in Africa.
The free trade zone is a first-class opportunity, and the special economic zone has future prospects.
(Translated and edited by RFI Radio Nikolai)
~.
Fin. ~

Graduates can leverage opportunities in sectors like sustainable finance and SEZs, aligning their skills with foreign investors’ focus on compliance and innovation.

Title:

Content: CIB - Egypt Announces at Climate Conference Ways to Launch ‘ Sustainable Finance Academy ’
To support international financial institutions
Iman Ashraf
6: 32 PM, Mon, 21 Nov 22
CIB aims to integrate the concepts of climate action and awareness with the education and training system of the banking sector, as well as bridging the awareness gap on the United Nations Sustainable Development Goals. The initiative was launched during a panel discussion entitled “Education for Sustainable Development ”, which was moderated by CIB on the sidelines of the COP27 Climate Conference on Civil Society Day. November 15 under the theme“ COP27 Sharm El Sheikh: From Africa to the World ”.
The seminar was moderated by dr.
Dalia Abdelkader, CIB ’ s Head of Sustainable Finance, was a keynote speaker.
David Orr is Professor of Environmental Studies at Paul Sears College of Oberlin College.
James Marsh, a professor at the University of Vermont, and Natalie Mangondo, a member of the United Nations High-Level Champions of Climate Change in Finance team.
Jonathan Bedley, Dean of Henley Business School, Africa
Dina Abdel Fattah, Assistant Professor and Head of the Department of Economics at the American University in Cairo.
Helmy Abouleish, President of Heliopolis University for Sustainable Development and CEO of SEKEM Group, and Mikhail, Head of Learning and Development at CIB
She explained dr.
Despite the establishment of the United Nations Sustainable Development Goals (SDGs) under the Paris Agreement, held during COP21 in 2015, which committed signatory countries to confront climate change, the world is still going through remarkable developments, and global temperatures have increased dramatically over the past five years. The educational system is still based on 20th century concepts that have fragmented knowledge into isolated islands of independent specialized curricula that lack the holistic perspective and “system thinking ” that is the basis of sustainability.
She added: “We will find that graduates with finance degrees do not necessarily have any scientific knowledge or knowledge of environmental standards and environmental protection laws, which in turn attracts financial institutions annually thousands of graduates who lack knowledge of the application of sustainable development standards and practices required by working in the banking sector in compliance with the guidelines and instructions of the Central Bank of Egypt for sustainable development. Its educational curricula provide scientific and practical knowledge of sustainable development standards and practices. ”
COP27 focuses on mobilizing financing for climate action and developing innovative solutions to address obstacles to sustainable development, and one of the main themes of the panel was “Are education systems in the 21st century meeting the requirements of the Sustainable Development Goals? ”
In this context, Fr.
David Orr said that changing ideas and concepts has a high priority over changing economic policies and technological systems in order to address the worsening climate change crisis, stressing that this change requires the development of education systems.
He pointed out dr.
He stressed that African companies, universities and business schools should focus on adopting the idea of   achieving African renaissance and shared prosperity, instead of focusing on profitability only, stressing that capital investments based on profit only incur very high costs, as the impact of pressing issues such as poverty, exclusion, climate change and others will certainly negatively affect everyone and lead to undesirable consequences in the future.
Bidley added that the phenomenon we are currently facing is the lack of an alternative plan or plan to address such issues, and efforts should be concerted among all business schools to embed the idea of   achieving renaissance and shared prosperity in the ideology and minds of senior management and teams of institutions and companies, instead of efforts limited to achieving profitability only.
The new role that African universities and business schools should play is to establish a new approach in which an economic system is established that meets the requirements of the times, instead of the old curricula that do not keep pace with the surrounding developments.
The panel also addressed ways to bridge the gap between education systems and the current needs of companies and organizations to integrate sustainability standards and practices into their activities and businesses, in compliance with national regulations and laws.
Marcos Mikhail, CIB ’ s Head of Learning and Development, said: “Raising knowledge and scientific awareness of sustainability standards and practices is no longer optional, but an urgent necessity for everyone.
CIB is investing heavily in educating and training new graduates on the science and fundamentals of sustainable finance, raising their awareness of regulatory frameworks and policies in this area in general, and the objectives of CIB ’ s Sustainable Development Strategy in particular. ”
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Education systems based on raising awareness of sustainability have become an indispensable tool to enable future generations to adapt and deal with the escalating climate challenges and reduce them, stressing that climate change has become an undeniable reality, and sustainability has become a matter of urgency and rooted in the minds of business leaders.
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Helmy Abouleish highlighted his experience at Heliopolis University and stressed that the only way to address climate change is to conduct a community dialogue in which every citizen participates in order to propose new ideas to improve the quality of sustainable development education, and to present and discuss all the challenges faced by citizens, while making fundamental changes to the educational system at all levels to include various sciences and practices of sustainable development.
The panel discussion was a platform to announce the Bank ’ s plan to develop the Sustainable Finance Academy, which is part of the Bank ’ s sustainable finance strategy. CIB is keen to spread the science and knowledge of sustainable finance and the tools to enhance it, in order to enhance the capabilities of its team, all banking teams and all stakeholders.
Through these efforts, the Bank aims to integrate financial institutions operating in the Middle East and North Africa markets to adhere to sustainability standards and practices, as well as to enable future generations to continue on this path.