Africa has seen significant growth in foreign direct investment (FDI) over the past year, with an 11% increase in FDI inflows, bucking the global trend.

The continent's FDI inflows reached $83 billion in 2021, with the UK and France being among the top investors, having invested $65 billion and $60 billion respectively.

The majority of FDI in Africa went to clean energy resource projects, with energy and gas supply projects increasing to $120 billion.

Egypt, South Africa, and Mozambique were among the top recipients of FDI in Africa, with Egypt aiming to increase foreign direct investment to 3% of GDP by 2025.

The AfCFTA aims to create a single market with 1.3 billion people, with a combined GDP of $3.4 trillion, and is expected to ease export goals for businesses and create new opportunities for foreign investment.

The renewable energy industry has seen significant investment, with renewable energy projects in Africa increasing to 71 in 2021, and a $20 billion wind energy project from Morocco to the UK announced.

Major foreign companies that have made investments or have committed to invest in Africa include those from the UK, France, India, Japan, and South Korea, with India being the fifth largest investor in Africa.

Gulf countries have pledged $22 billion in investments in Egypt, with European investors owning the largest FDI in Africa, and the UK leading FDI in Africa with $60 billion.

The International Finance Corporation (IFC) plans to mobilize $10 billion in private investment into Africa by 2030 annually, and the Africa Investment Forum coordinated $32.8 billion investments in Africa, with the largest deal being the $15.6 billion Lagos-Abidjan highway project.

African entities that have formed partnerships with foreign companies include Egypt, South Africa, Morocco, and Mozambique, with Egypt aiming to increase foreign direct investment to $10 billion.

The energy sector has seen significant investment, with bp investing in Senegal and Mauritania's LNG project, and Shell investing in Namibia's Orange Basin.

The agriculture sector has also seen investment, with Ghana's agriculture industry undergoing technological advancements, and Barika and Kraft providing financing services to global clients in West Africa.

The fintech industry has seen significant investment, with $1.8 billion in venture capital funding invested in Africa in Q1 2022, and fintechs accounting for 62% of startup investments in Africa.

The outsourcing industry in Egypt employs 110 thousand specialists annually, with an estimated revenue of 5 billion dollars, and potential annual revenue could reach 50 billion dollars with growth.

Language skills are crucial for working in foreign-invested companies, with proficiency in foreign languages determining call center salaries, and training courses improving language accents for the job market.

African universities can prepare students for careers in foreign-invested companies by implementing programs such as internships, collaborations with corporate entities, and sustainable development curricula.

The Mastercard Foundation has invested $275 million in Africa's digital transformation, aiming to develop the continent's scientists and innovators, and provide digital skills to 10,000 young Africans.

Carnegie Mellon University has partnered with the Mastercard Foundation to support African students, and the program aims to provide scholarship support to 300 students and recruit women, people with disabilities, and displaced persons.

The use of digital platforms and e-learning tools has improved the learning experience, and provided students with the skills needed to compete in the global market.

The African Tech Challenge has been instrumental in providing skills training to African youths, with a focus on reducing unemployment through skill transfers.

Partnerships between African entities and foreign companies have been formed to provide essential skills for the modern job market, with AVIC providing skills training to African students.

The China-Africa partnership has led to the provision of scholarships for African students to study abroad, with a focus on developing the skills needed to compete in the global market.

The investment in digital infrastructure and education is expected to have a positive impact on the African economy, with a focus on developing the skills needed to compete in the global market.

By 2030, Africa will have nearly half of the world's young people, and investing in education and digital infrastructure is necessary to prepare them for the future labor market.

The focus on STEM education is crucial, with EdTech bridging the gap between theory and practice in STEM education, and promoting critical thinking and problem-solving skills.

EdTech has made STEM education more accessible and inclusive, providing personalized learning experiences for students, and supporting students with different learning needs.

The digital transformation of education has improved education equity, with digital technology collecting and analyzing student learning data.

Overall, foreign investment in Africa is focused on developing the digital infrastructure and education sector, with a focus on providing the skills needed to compete in the global market.

Africa has seen significant growth in foreign direct investment (FDI) over the past year, with an 11% increase in FDI inflows, bucking the global trend.

Title:

Content: Free zones may be Africa’s best chance to accelerate wealth creation

By Sylvia Brune

Co-founder of AHOY – a flight booking and concierge app – Sylvia Brune discusses why free zones may be Africa’s best chance to accelerate wealth.

Given the demand for goods and services from Africa’s growing middle classes, the continent has huge potential for growth. Over the past year, Foreign Direct Investment (FDI) into Africa grew by 11%, bucking the global trend and potentially setting a bright precedent for the future.

Whether this upwards trend in FDI will have a positive effect on growth and wealth creation is, however, still unknown. Studies have shown that capital has little impact on an undeveloped foundation. Key components needed to enhance capital’s productivity are infrastructure (not just physical), a stable and transparent legal framework, and skilled labour.

Where these are lacking, investors into the continent have to first ‘build’ the commercial foundation, before commencing their projects. Like spending money on hiring advisors, lawyers, and accountants to navigate the various countries’ economic environments, political systems, and bureaucracy. This adds time and uncertainty to projects, acting as an effective ‘tax’ on any return on investment - meaning only projects with a very high upside will be embarked upon.

Evidence suggests that these key components are indeed lacking across most of Africa, albeit with a small handful of countries on the road to improvement.

Countries, like Senegal and Côte d'Ivoire, have made important strides to improve anti-corruption institutions. Cabo Verde and Gambia have managed to gain local trust with 85% and 84% believing their government is fundamentally sound. And Mauritius and Rwanda have made it into the top 35 countries in the world as measured by economic and personal freedom, with Mauritius marginally beating Norway in the global ranking.

The reality is, however, that corruption continues to undermine the rule of law across most of Africa (which hosts 13 of the globe’s 20 most corrupt countries). Rule of law relates to strong property rights, government integrity, and judicial effectiveness - the basis for a sound investment environment. What is even worse than corruption’s effect on FDI, though, is its effect on retaining and developing talent.

Instability and lack of opportunity continues to result in brain-drain - drawing talent and skill away from the continent. The World Bank estimates one-in-nine Africans with a tertiary education live away from Africa – a 50% growth since the mid-00s.

So, what’s the solution?

Given the long, tough road ahead towards building economically sound environments across Africa, I believe the only solution in the short run, is establishing 100s of Special Economic Zones (SEZs) throughout the continent.

For those unfamiliar with SEZs, they are areas which operate under a different legal framework to the country they inhabit – with investment-friendly laws around commercial transactions, taxes, and the protection of private property. SEZs’ advantage is that you avoid building on top of broken legacy system, instead creating a pre-packaged, investor-ready climate.

These zones have been successfully tested and run in China and the Four Tigers (Hong Kong, Singapore, South Korea and Taiwan) to attract considerable FDI, and experience decades of double-digit growth. This format could likewise be used to boost and sustain investor interest in Africa.

SEE ALSO:

SEZs as talent hubs

While SEZs are known mostly as attractive investment environments, with conducive infrastructure and legal frameworks, the secret to their success rate is actually in their ability to attract and retain talent and skilled labour in specialised hubs.

China showed just how powerful an industry focus within SEZs can be. Because they provide a magnetic effect of highly specialised knowledge hubs - comprised of domestic, regional, and international talent.

Capital is like fuel, it’s only effective where there is a flame to throw it on. And that flame is talent.

The potential is clear, and I believe Africa has a burgeoning pool of talent waiting to be tapped into. But whether they are able to put their talents to best use, collaborate, and innovate freely is uncertain, and will determine whether they stay, or search for opportunities elsewhere.

A common hurdle, for example, is work visa rules between African countries, which means it’s easier for talent to find good opportunities outside Africa than within Africa. Talented individuals want to work alongside other talent. Similarly, talent and specialists from outside Africa face considerable barriers when trying to obtain work permits.

For example, Mr. Eazi’s emPawa Masterclass, like many creative undertakings, is dependent on bringing together the best talent. Earlier this year, emPawa struggled to bring artists, producers, and mentors together from across Africa. Due to visa rules and uncertain processing times, some were only provided with visas after the masterclass was already over, some not at all.

Here, again, SEZs are a solution. SEZs are able to receive visa allocations relating to their area of specialisation, which increases the likelihood of collaboration and innovation - which in turn attracts capital.

The Andela example

There’s plenty of evidence that talent wants to stay, provided there are the right conditions to do so. A great example is tech recruitment platform Andela, which proves that when start-ups in Africa have access to the best talent, including a global support network, and then tap into local opportunity, they can raise substantial foreign capital, and the local business community benefits as well.

Andela trains candidates for six months before pairing them with clients, many are the Fortune 500 and a number of Silicon Valley start-ups. So far, more than 90% of Andela’s first batch of alumni are still working in Nigeria.

SEZs would be able to turbocharge the work of companies like Andela. After talent has been developed, they need environments where they can make most use of their skills.

Already, countries like Mauritius, Senegal, and Rwanda have and are in the process of creating SEZs, with the view to building infrastructure, a stable legal framework, and enticing skilled labour – it’s an exciting time and I for one, am eager to see the results as more African countries follow their footsteps.

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The continent's FDI inflows reached $83 billion in 2021, with the UK and France being among the top investors, having invested $65 billion and $60 billion respectively.

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.

The majority of FDI in Africa went to clean energy resource projects, with energy and gas supply projects increasing to $120 billion.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
It has reached $11 billion.
UN highlights doubling of foreign direct investment in Egypt
The United Nations Trade and Development Board (UNCTAD) said in its annual report on foreign direct investment flows for the year 2022, on Wednesday in Geneva, that Egypt witnessed an increase in foreign direct investment more than doubled to $11 billion as a result of increased cross-border M & A sales.
Investment flows to Africa fell to $45 billion in 2022 from a record $80 billion in 2021 and accounted for 3.5 percent of global foreign direct investment, the report said, adding that international project financing deals targeting Africa showed a 47 percent drop in value.
The report pointed out that the number of announcements of new projects increased by 39% to 766, and that six of the 15 largest new investment mega projects (those worth more than $10 billion) announced in 2022 were in Africa, stressing that Egypt witnessed an increase in foreign direct investment more than doubled to $11 billion as a result of increased cross-border M & A sales.
The number of new projects has more than doubled to 161, and the value of international project financing transactions has increased by two-thirds to $24 billion.
FDI inflows have risen over the past five years in four of the continent ’ s regional economic groupings, with FDI in the Common Market for Eastern and Southern Africa (COMESA) growing by 14% to $22 billion, and inflows also rising in the Southern African Development Community (SADC) (quadrupled to $10 billion) and the West African Economic and Monetary Union (WEMU) (doubled to $5.2 billion). East African Community (up 9% to $3.8 billion).
According to the report, the largest increase in 2022 was in new field projects announced in energy and gas supply (to $120 billion from $24 billion in 2021), and the value of projects in construction and extractive industries rose to $24 billion and $21 billion, respectively, while the information and communication sector recorded the largest number of projects.
European investors remain by far the largest owners of FDI in Africa, led by the United Kingdom ($60 billion), France ($54 billion) and the Netherlands ($54 billion).

Egypt, South Africa, and Mozambique were among the top recipients of FDI in Africa, with Egypt aiming to increase foreign direct investment to 3% of GDP by 2025.

Title:

Content: « Money » monitors the forecasts of economic analysts for foreign investment flows in the current year
A number of them predicted it would reach $10 billion.
Samar Al-Sayed
Praying for Mahmood
6: 59 AM, Wednesday, 27 Jul 22
Wael Ziadeh: The Russian-Ukrainian war is an opportunity for the Egyptian stock exchange to attract more capital
Esraa Ahmed: Clean energy, infrastructure and digital financial services are the most attractive sectors
Hani Geneina: Companies should be encouraged to reinvest their profits instead of transferring them to parent entities abroad
Naaman Khaled: Most of the money will come from Gulf markets
The Egyptian government aims to increase foreign direct investment flows, especially the Gulf, in the local market in the coming period, in light of the repercussions of the Russian-Ukrainian war on the global and local economies, and a number of analysts and macroeconomic experts estimated the value of these investments to reach $10 billion, driven by various factors, including the decline in the stock prices of companies on the stock exchange, and the exchange rate of the pound against the dollar.
The latest report issued by UNCTAD in June on the volume of foreign investment flows in 15 African countries last year showed that Egypt ranked second in the list, recording the volume of flows about 5.122 billion dollars compared to 5.852 billion in 2020 compared to 9.010 billion in 2019.
South Africa came first last year with a 1,235% jump in investment inflows of $40.889 billion compared to $3.062 billion in 2020 and $5.125 billion in 2019.
Wael Ziadeh, founder and CEO of Zela Capital, said that the Russian-Ukrainian war had negatively affected foreign direct investment flows in the world, while inter-state assistance had increased to counter the negative consequences of the war.
He explained to Al-Mal that these negative effects included the exit of investment flows from some emerging countries, which led to the impact of their trade balance, especially as their imports of food and oil more than their exports, for example Turkey and many European countries, as well as Sri Lanka.
On the other hand, the war represents a positive area for these countries, especially in activating the stock market sector, he said, adding that in this context, the Egyptian Exchange has opportunities to attract more foreign investments in the coming period.
He predicted that Egypt will take no more than six months to recover its trade balance once the war is over, as the prices of petroleum products and food will fall rapidly, as they rose rapidly after the outbreak of the war.
The objectives of the Egyptian government published in July 2021 in the second and final review report of the Credit Standby Arrangement Program signed with the International Monetary Fund, amounting to about $5.4 billion, indicated that the percentage of net foreign direct investments of GDP will rise to 2.5% in the current fiscal year compared to 2% in the last fiscal year, adding that it recorded 1.4% in the fiscal year 2021 / 2020, 2% in 2019 and 2.6% in 2019. / 2018.
These targets pointed out that the proportion of net foreign direct investment will jump to 3% of GDP in the fiscal year 2025 / 2024 compared to 2.9% in 2023 / 2024.
The government also expected in the report to increase the volume of foreign direct investment flows in the local market to about 11.7 billion in the current fiscal year against 8.6 billion dollars in the last fiscal year 2022 / 2021 to rise to 14.9 billion in the next fiscal year (2023 / 2024) and 16.5 billion in 2025 / 2024.
According to the Central Bank of Egypt ’ s forecasts issued in its statistical bulletin for May, the proportion of net foreign direct investment in GDP declined to about 1.3% in the fiscal year 2020 / 2021 compared to 2% in the fiscal year 2019 / 2020, adding that it was 2.7% in the fiscal year 2018 / 2019 and 3.1% in the year 2017 / 2018.
Economist Hani Geneina predicted that the value of net foreign direct investments in the local market will exceed 10 billion dollars in the coming period, due to several different factors, including the decline in the prices of shares of companies in the stock exchange and the exchange rate of the pound against the dollar.
However, Egypt was the second largest recipient of foreign direct investment in the African continent, he said, adding that recent pledges from Gulf countries to invest about $22 billion in various sectors will boost foreign direct investment in the future.
The number of new green projects in Egypt has more than tripled to $5.6 billion, according to the UNCTAD report, pointing out that for example, the UAE real estate company Reportage announced a real estate project worth $1.5 billion.
According to the report, the volume of foreign direct investment flows to North Africa declined by 5% to $9.3 billion last year.
Geneina told Al-Mal that the flows of foreign direct investments to the markets are divided into three types, the first is the acquisition of one company on another by more than 10%, pointing out that this investment happened last fiscal year, such as the acquisition of the UAE Holding “ADQ ” on several Egyptian companies, pointing out the importance of this type of investment, but it is not very useful in the list of foreign investments.
This type of rapid investment is encouraged by the decline in both stock prices on the stock exchange and the exchange rate of the pound against the dollar, as well as the recent government stimulus measures that included the implementation of the state ownership document.
The document of state ownership announced by the government in mid-June revealed the most prominent sectors that will witness the stabilization or reduction of government investments (while allowing the participation of the private sector), a number of activities in the transport, education, mining, real estate, electricity, telecommunications and sports sectors.
Geneina said that the second type of flows is the reinvestment of a foreign company present in the market for its profits again, pointing out that this type is classified in the balance of payments as foreign direct investments.
He added that the most prominent local sectors that will go to this type of investment is oil and gas, due to the high value of its profits achieved last fiscal year, and will therefore reinvest its large financial surpluses during the current fiscal year.
He pointed out that the third type of investment is the most difficult, which is the establishment of a new company or project from the beginning, and the employment of new workers, pointing out that for example, Dana Gas announced that it will expand its operations implemented in the local market.
This area is likely to witness an increase during the current fiscal year, especially in the oil and gas sectors and related sectors, namely petrochemicals and fertilizers, especially by Gulf investments in light of the features announced recently by the government, namely the state ownership document, the gold license, as well as the large financial surpluses they have, which motivates them to invest in the local market.
In mid-May, Prime Minister Mostafa Madbouly announced a number of concessions on the industrial sector, most notably the issuance of the golden license for some projects, pointing out that it will be granted once and include three areas as a start, namely green hydrogen, electric car manufacturing and infrastructure, seawater desalination projects and renewable energy.
Geneina stressed the importance of the government encouraging foreign companies to reinvest their profits in the local market instead of transferring them to parent companies abroad by providing incentives to urge them to take this step.
According to the latest UNCTAD report, Mozambique ranked third in the list of foreign investment flows to 15 African countries last year, and its inflows rose by 68% to $5.102 billion compared to $3.035 billion in 2020, while it recorded 2.212 billion in 2019.
Nigeria ranked fourth on the list, attracting inflows of 4.844 billion over the past year, an increase of 103 percent from the previous year, the data added, adding that it recorded 2.385 billion in 2020 and 2.305 billion in 2019.
Ethiopia followed in fifth place, and foreign direct investment inflows increased last year by 79% to $4.259 billion compared to $2.381 billion in 2020.
In the sixth place came « Congo » with the volume of flows of $3.691 billion, a decline of 8% from its value in 2020, and recorded 4.016 billion dollars, followed by Ghana in the seventh place in the list and increased flows by 39% to reach 2.614 billion dollars during 2021 compared to 1.876 billion in 2020.
According to data from the UNCTAD list, foreign direct investment flows in Senegal jumped by 21% to 2.232 billion against 1.846 billion dollars in the previous comparison period.
According to the report, the value of flows to Morocco increased by 52% last year to $2.153 billion, and a major international financing deal was announced there, a $20 billion construction project for a 3,800km transmission line to the UK with a capacity of 3.6 gigawatts, sponsored by English company Xlinks.
The Democratic Republic of the Congo ranked 10th on the list, with investments up 14% to $1.870 billion compared to $1.647 billion in 2020.
Gabon came in eleventh place, with direct investment flows falling by 5% last year to record 1.635 billion dollars compared to 1.717 billion in 2020, followed by Uganda, with flows rising by 31% to 1.142 billion dollars compared to 874 million in 2020.
Tanzania ranked 13th, with foreign investment up 35 percent in 2021 to $922 million compared to $685 million in 2020.
According to the bulletin, investment flows in Algeria decreased by 24% last year to $870 million compared to $1.143 million in 2020, pointing to the decline of investments in Tunisia to $660 million compared to $652 million in 2020 to be ranked 15th.
Esraa Ahmed, a macro-economic analyst at the investment bank “Ahly Pharos ”, agrees with Geneina ’ s opinion as she expects the volume of net foreign direct investment in Egypt to rise to about $10 billion during the current fiscal year (2022 / 2023), up from levels that will not exceed $7 billion in the fiscal year ending 2021 / 2022.
She added that this rise is driven by the Gulf investment flows that have been announced recently, and the acquisition deals that we see are witnessing activity during the current period.
There are other factors that may prevent net foreign direct investment from rising to larger numbers in the near future due to the continuation of the war in Ukraine and its repercussions on the global economy.
According to Ahmed, these factors are the economic situation of the European Union, which is an important partner for Egypt in terms of trade and investment, in addition to the general reluctance globally to risk starting new projects, and the prevailing outlook for emerging markets and the risks of their currencies.
On the sectors that may witness foreign inflows during the coming period, she said that the most prominent of them are clean energy, new infrastructure driven by the expansion of the state in this field, in addition to digital financial services, and some branches of manufacturing industries.
For his part, Numan Khalid, a macro-economic analyst at Arqaam Capital, said that the current circumstances in the world prevent the possibility of predicting the volume of foreign direct investment flows in the local market during the coming period.
He added that most of the investments come from the Gulf market, especially from Saudi Arabia and the UAE, pointing out that these two countries have benefited greatly from the recent increases in oil prices, and thus have a great financial solvency through which to invest in surrounding countries, especially in Egypt, which is one of their target markets.
He pointed out that health, hotels, real estate and the financial sector will witness an increase in the volume of investment flows to them during the coming period.
During his participation in the Qatar Economic Forum last June, the Minister of Finance, Mohamed Maait, looked forward to increasing the volume of Gulf investments with the transformation of their deposits in Egypt into real investments that benefit from the promising development opportunities available in various fields.

Which African countries are driving the venture capital ecosystem?

The AfCFTA aims to create a single market with 1.3 billion people, with a combined GDP of $3.4 trillion, and is expected to ease export goals for businesses and create new opportunities for foreign investment.

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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The renewable energy industry has seen significant investment, with renewable energy projects in Africa increasing to 71 in 2021, and a $20 billion wind energy project from Morocco to the UK announced.

Major foreign companies that have made investments or have committed to invest in Africa include those from the UK, France, India, Japan, and South Korea, with India being the fifth largest investor in Africa.

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 European countries lead investment in Africa?

Which countries are actively investing in Africa besides China?

Gulf countries have pledged $22 billion in investments in Egypt, with European investors owning the largest FDI in Africa, and the UK leading FDI in Africa with $60 billion.

Which African countries are driving the venture capital ecosystem?

Which European countries lead investment in Africa?

Which African countries are driving the venture capital ecosystem?

Which European countries lead investment in Africa?

The International Finance Corporation (IFC) plans to mobilize $10 billion in private investment into Africa by 2030 annually, and the Africa Investment Forum coordinated $32.8 billion investments in Africa, with the largest deal being the $15.6 billion Lagos-Abidjan highway project.

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Content: Africa Investment Forum announces coordination of investments worth $32.8 billion - Sunrise Portal
Friday 18 March 2022 7: 02 AM Cairo Cairo 24 °
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Africa Investment Forum Announces $32.8 Billion Investment Coordination
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Published on: Friday 18 March 2022 - 6: 02 AM | Last updated on Friday 18 March 2022 - 6: 02 AM
African Development Bank (AfDB) President Akinwumi Adesina announced that the forum was successful in coordinating investment deals for projects in Africa worth $32.8 billion.
At the end of the Africa Investment Forum, Adesina said that the largest deal reached at the African Investment Forum, which was held by default, during the period from 15 to 17 March, amounted to $15.6 billion for the Lagos-Abidjan highway, which connects two major cities in West Africa, Nigeria and Ivory Coast.
The 1,200-kilometer highway will consist of four to six lanes and will take about six years to complete, he said.
The projects addressed by the forum touched on the sectors of agriculture, education, energy, climate, health care, minerals, mining and information and communication technology.
Adesina noted that other projects will include the creation of a new medical city in the Senegalese capital of Accra, a fund for health services for low-income populations in South Africa, and two platforms for the manufacture of pharmaceutical products: one in West Africa and the other in Kenya.
These projects are part of the bank ’ s response to COVID-19.
The forum was originally scheduled for late last year in the Ivorian capital Abidjan, but was postponed due to an increase in the number of Omicron cases.
Adesina said: “Through the African Investment Forum, we aim to offset some of the decline in investments that occurred as a result of the COVID-19 pandemic, where“ project funding decreased by about 49%, affecting infrastructure. ”
The AfDB sees its focus on infrastructure as boosting intra-African trade, which today accounts for only about 15% of the continent ’ s total trade, as investment flows are set to help accelerate the implementation of the African Continental Free Trade Area (AfCFTA), which is expected to be fully operational in 2030, to include a market of 1.2 billion people with a GDP of $2.5 trillion.
The African Export-Import Bank is also developing a system that will enable the transfer of funds between African countries instead of settling payments through US and European banks, an initiative that is expected to save the continent $5 billion in annual transaction costs.
“We have no choice but to make the African Continental Free Trade Area (AfCFTA) operational as soon as possible. ”
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Content: Creating the framework to attract private investment into Africa

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By Omar Ben Yedder. Published on November 3, 2022

The International Finance Corporation (IFC) is on course to mobilise $10bn of private sector investment annually into Africa by 2030 says its vice president for Africa.

African entities that have formed partnerships with foreign companies include Egypt, South Africa, Morocco, and Mozambique, with Egypt aiming to increase foreign direct investment to $10 billion.

Which African countries are driving the venture capital ecosystem?

The energy sector has seen significant investment, with bp investing in Senegal and Mauritania's LNG project, and Shell investing in Namibia's Orange Basin.

Title:

Content: Global investment in upstream oil and gas is set to reach $570 billion in 2024, showing a 7% rise compared to 2023 expenditure. Of this, 33% is expected to be directed towards frontier fields, presenting a strategic opportunity for undeveloped oil and gas markets in Africa. With lack of investment representing one of the biggest challenges to project development across the continent, the African Energy Chamber (AEC) (www.EnergyChamber.org) will host a networking reception on July 11 in London – Europe’s financial capital. Taking place at the Four Seasons Hotel London at Park Lane from 17:00 to 21:00, the reception bridges the gap between European financiers and African energy projects, promoting synergies, deals and future collaborations.

Despite holding some of the largest untapped oil and gas resources worldwide, Africa is faced with an energy crisis, with 600 million people currently living without access to electricity and 900 million people without access to clean cooking solutions. The African Development Bank estimates that to address this crisis, the continent requires between $40 billion and $70 billion in annual investment. Presently, Africa receives on average $35 billion in global financing for fossil fuels and clean energy projects, with merely 5% of global energy investment directed towards the continent. This showcases a clear investment gap and a strategic opportunity for European funders and project developers.

With over 125 billion barrels of proven crude oil, 620 trillion cubic feet of natural gas and abundant opportunities in solar, wind and geothermal, Africa continues to attract investment from some of the world’s biggest players. The continent’s greenfield upstream spending, for example, is projected to reach $37 billion by 2025 and $50 billion by 2050, with companies eager to unlock the full potential of undeveloped oil and gas. Specifically, a strong slate of London-based oil and gas firms are driving a wave of project developments across the continent.

These include energy major bp, who is developing Senegal and Mauritania’s inaugural LNG project – the Greater Tortue Ahmeyim (GTA) facility – and Mozambique’s Coral Sul FLNG project. GTA is on track for first production in 2024 while bp delivered first gas from Coral Sul in 2022, marking the first LNG cargo for the country. Additionally, energy major Shell is making strides towards opening up the Orange Basin in Namibia. The company’s Graff-1 discovery in 2022 was play-opening and Shell has made an additional five discoveries since then. The company is investing 25% of its deepwater exploration budget in the country this year.

Additionally, independent hydrocarbon producer Perenco inaugurated the $50 million Batanga LPG plant in 2023 and is developing the $1 billion Cap Lopez LNG terminal in Gabon. The company is also investing in shallow-water and marginal assets across the continent, acquiring Eni’s core assets in the Republic of the Congo in June 2023 for $300 million. Oil and gas company Tullow Oil anticipated commercial oil production in Kenya in 2028 while transitional energy company Chariot oil and gas recently signed a gas commercialization agreement with Vivo Energy in Morocco. These developments – all led by London-based companies – represent just some of the many underway across the continent.

The AEC Reception builds on these deals to promote new investment in African energy. Taking place in London – both Europe’s financial capital and its biggest stock market – the reception is all about connecting companies to opportunities. The total value of companies listed on the London Stock Market reached $2.18 trillion in June 2024, highlighting a commercial and strategic opportunity for the reception and African energy projects.

The AEC London Reception takes place ahead of the continent’s largest energy event, the African Energy Week (AEW): Invest in African Energy conference, scheduled for November 4-8 in Cape Town. Under a mandate to make energy poverty history by 2030, the event unites global investors and technology providers with African energy projects, with discussions tailored around unlocking high returns and generating mutually beneficial opportunities. Participants at the AEC’s London Reception have the chance to gain exclusive insight into AEW: Invest in African Energy 2024 while engaging with a suite of African stakeholders.

This year’s AEW: Invest in African Energy will host the African Energy Finance Summit – a platform that galvanizes financial support for African energy projects, while promoting deal-signing and partnerships. Hosted in partnership with multilateral financial institution the African Export-Import Bank and global market intelligence firm S&P Global Commodity Insights, the summit brings capital to Africa with the aim of making energy poverty history by 2030.

Don’t miss the chance to be at the forefront of Africa’s energy transformation. Register for the AEC’s London Reception at https://apo-opa.co/3KUx0qt or contact register@aecweek.com.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Distributed by APO Group on behalf of African Energy Chamber.

The agriculture sector has also seen investment, with Ghana's agriculture industry undergoing technological advancements, and Barika and Kraft providing financing services to global clients in West Africa.

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Content: There were 1,560 press releases posted in the last 24 hours and 222,474 in the last 365 days.

Financially facilitating extra-ordinary businesses to participate in the Economic Boom of West Africa

Barika and Kraft, Dubai based financier talks about unprecedented opportunities that businesses face during the economic prosperity of the West African Region.

“Across our corporate base globally the interest in Africa is high and growing, and I would say it is about the level that it was in Asia 30 years ago.”
— Dominic Barton, global managing director of McKinsey & Company
DUBAI, UNITED ARAB EMIRATES, August 18, 2022 /EINPresswire.com/ -- As West Africa’s population booms, its economy continues to expand, the opportunities for businesses to trade across the region are vast. The rising need economy has presented various opportunities across all industries in West Africa. Previously an agriculturally driven economy is now facing a transition. Majority of the newly established businesses are catering the growing needs of the people of west Africa, which include industries such as Hospitality, Healthcare and Banking.

One of the catalysts and driving forces for this economic can be seen from active participation of the West Africa Trade & Investment Hub (Trade Hub, which is a 5-year, $140 million trade and investment facilitation activity designed to improve private sector productivity, profitability, and competitiveness in West Africa through market-based approaches. The West Africa Trade and Investment Hub is a one-stop shop that partners with banks/financial institutions to provide financial support and business development services, capacity building, and best practices with the aim of making businesses viable and export ready, through the African Growth Opportunity Act (AGOA).

One of the largest economies in West Africa, Nigeria has seen significant surge in Energy usage. The government has been looking at alternate sources of energy such as Solar & Waste-to-Energy plants which has led to the inception of green power projects across the region. Barika and Kraft has been actively participating in this sector with a multitude of projects securing Seed-funding under the patronage of Barika and Kraft.

Apart from Nigeria, another nation observing a significant spike in economic prosperity is Ghana. Consumer expenditure has seen a large growth which is an early sign of nation-wide development. This west African nation is seeing a remarkable growth in exports as their dominant industry being Agriculture has undergone immense technological advancements which has benefited local farms to increase their yields. A lot of entrepreneurs are capturing the opportunity of being the first mover to establish/grow their presence in Ghana and Barika and Kraft has been actively reviewing opportunities of participation.

A representative from Barika and Kraft has informed us that there are a magnitude of projects currently being presented on a daily basis. Barika and Kraft focus on sourcing financial resources to the best of the projects that present their competence. Current projects that Barika and Kraft participate in include Green Energy, Hospitality, Fin-Tech, and Agriculture.

Barika and Kraft is a Dubai-based company providing financing services to global clients. More information is available by visiting its website at www.barika-kraft.com or email: info@barika-kraft.com

VALERY GARCIA
BARIKA AND KRAFT
vg@barika-kraft.com
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What trends are emerging for African startups in 2022?

Which countries are preferred FDI destinations in Africa?

Which sectors received the most foreign investment?

The fintech industry has seen significant investment, with $1.8 billion in venture capital funding invested in Africa in Q1 2022, and fintechs accounting for 62% of startup investments in Africa.

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Fintech and crypto success is making it harder for the rest in tech

South Africa is haemorrhaging vital tech skills to global companies, in some instances hobbling companies in the IT sector. This is being made worse by skills-hungry fintechs and crypto startups which have the VC funding to attract the scarce skills they need, over and above the pandemic, and the resulting normalisation of work-from-home, that has resulted in companies realising that they can find better skills, more cost-effectively, globally. However, a local software engineering company says the answer is more complex than simply offering bigger salaries.
Martin Dippenaar

“While we have been lucky compared to some, the ability to work remotely, boosted by lockdowns, has opened up a whole world of opportunities for our scarce developer, data analysts, data scientist as well as general IT skills, and most local companies simply can’t compete with international salaries,” explains Martin Dippenaar, CEO at software engineering specialists, Global Kinetic.

Dippenaar’s sentiments are backed up by recent studies, including OfferZen’s 2022 State of the Developer Nation report, which reports that more than 30% of South African developers are looking to move jobs within the next 12 months. The company also warns that one in five remote South African developers work for companies based in a different city, underpinning the impact of remote work has had on the country’s limited skills base.

Dippenaar says the skills crisis has been felt most by medium and smaller companies which can’t easily offer the bigger salaries required to keep scarce skills.

“Even the largest companies like Meta and Apple, which have put moratoriums on upper management and C-suite hires are still onboarding engineers. Unfortunately these guys have the capital to hold onto skills and, with this financial clout, can source the skills from anywhere across the globe. In this kind of environment, partnering with a company that can provide managed software delivery services, and who has the staff, becomes especially advantageous,” he explains.

Fintech and crypto boom adding pressure

The current reality in the South African technology industry is that in-demand skills are so sought after that workers can pick and choose where they go.

“The market out there is so competitive that we have seen developers leave because they are being offered a salary equivalent to that of a director in smaller companies. We also see the significant growth in fintechs and especially crypto startups exacerbating our current dilemma. In addition, when a tech team member is attracted to global companies the lure of staying long enough to qualify for an EU or other passport is huge, which will prevent them returning to the country in the near future,” Dippenaar shares.

The need for skills in the fintech space is huge and Dippenaar says that not only is there a demand, but the firms looking for the skills now have the cash to secure them.

The last quarter of 2021 and early 2022 have been a boomtime for local and continent-wide tech funding, with the total venture capital funding in Africa hitting $1.8bn in the first quarter of 2022 alone – a 150% increase compared with the same period last year, according to Africa-focused database The Big Deal. Moreover, fintechs accounted for 62% of all startup investments last year, according to Briter Bridges.

A new way of incentivising

The lure of foreign shores has been amplified over the last few years with global companies quickly realising just how valuable South African workers are. Dippenaar points out that there are some things that local companies can do to convince a young technologist to stay. It is tricky though when they are being offered a sizable salary increase along with all their relocation costs taken care of – not to mention the added incentive of dual nationality after just five or six years.

The latest stats from McKinsey shows that the main reason for quitting a job (41%) is lack of career advancement, slightly ahead of poor remuneration at 36%.

“Money is always going to be at the top of the list, and one could even argue that people are more comfortable saying it is career advancement when it actually has more to do with money. However, even taking that into account, there are many things a company can do to retain staff. The most important thing is to ensure your staff have a sense of purpose, that they feel valued and that they are in a supportive team environment that will allow them to grow and thrive,” Dippenaar shares.

While he acknowledges that these indicators can be harder to cater for, Dippenaar is quick to point out that there is technology that can be used to help IT leaders address their staffing challenges.

“We all know that to make incremental changes we must first have the ability to measure the current and future state of affairs. We have developed Team First, which has been designed to help detect where there are issues inside teams. This may not be the entire solution, but it adds data-based insight that can assist leaders to begin to craft a more holistic value proposition. As a technology company which relies on our skills, the one thing we know for sure is that we must take action to create an environment where all our team members can find meaning and purpose. It will be the differentiator which could ensure our survival,” he says.

About Global Kinetic

Global Kinetic is a premium software business with extensive experience and expertise in enterprise grade software engineering and digital transformation projects. Trusted across multiple global industries, and with deep expertise in banking and fintech, Global Kinetic has pioneered innovative solutions to complex enterprise projects for almost 20 years. A matured and perfected managed team approach guarantees high quality and predictability, augmented by unique strategic technology consulting services and software delivery accelerators. With just over 100 permanent employees in Cape Town and Palo Alto, Global Kinetic is an evangelist of agile, cloud, mobile and enterprise software engineering.

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What trends are emerging for African startups in 2022?

The outsourcing industry in Egypt employs 110 thousand specialists annually, with an estimated revenue of 5 billion dollars, and potential annual revenue could reach 50 billion dollars with growth.

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Content: Announcement
Experts: Developing language skills for university students drives outsourcing industry growth
05: 36 PM Tuesday 16 July 2024
Masrawy Application
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Proficiency in foreign languages is one of the most important features of call center service employees, as well as the main determinant of their salaries. The more fluent he is in more demanding languages such as English, German, French and Spanish, the more valuable his salary will be.
Outsourcing companies and call centers in Egypt face a strong challenge: the availability of human cadres who master foreign languages, which makes companies in constant competition to attract these cadres, at the same time Egypt has a large base of young graduates who can qualify and learn foreign languages to work in call centers.
Dr. Adel Danch, an outsourcing industry expert, said that there are a large number of institutes and colleges specialized in languages in Egypt, such as Alsun colleges and foreign language departments at the Faculty of Arts, which graduate tens of thousands of young people annually, thus understanding the enormous human capacity that must be exploited in the development of the telecentres industry.
Danch believes that training courses should be organized for these young people during university studies to improve the accent of the language they are studying, making them qualified for the job market in the outsourcing industry or other sectors if they wish.
He believes that the private sector of companies specialized in call centers can be a key partner in these courses so that young people are qualified in proportion to the need for work, which accelerates the development of the market.
For his part, Eng. Amr Mahfouz, former head of the Information Technology Industry Development Authority (ITIDA), said that it is necessary to work on the development of two basic skills in the youth to qualify them for the labor market in the outsourcing industry commensurate with the needs of the industry, namely:
Develop the technical skills of students and graduates in terms of the ability to deal with computers and its applications and the use of some artificial intelligence tools necessary for the industry, as well as improve their language skills in the foreign languages they study.
Mahfouz proposed the launch of a 3-year post-preparatory diploma for the Call Center, so that the industry would be provided with trained human cadres to work in the services of call centers, which would push the market to grow faster.
According to reports, the outsourcing industry in Egypt employs about 110 thousand specialists with an estimated revenue of about 5 billion dollars annually, and if the number of workers in the industry increases to about one million specialists, the revenues of outsourcing services may reach 50 billion dollars annually, according to the report.
It is worth mentioning that the number of graduates of universities and higher institutes in Egypt is currently estimated at about 650 thousand graduates, and the number of students in all stages of school education is estimated at about 23.6 million students distributed as follows: primary 13.7, preparatory 5.8, secondary 4.1 as well as about 3.3 million students in universities and higher institutes.
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Language skills are crucial for working in foreign-invested companies, with proficiency in foreign languages determining call center salaries, and training courses improving language accents for the job market.

African universities can prepare students for careers in foreign-invested companies by implementing programs such as internships, collaborations with corporate entities, and sustainable development curricula.

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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. ”
She said dr.
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.
Presented by dr.
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.

The Mastercard Foundation has invested $275 million in Africa's digital transformation, aiming to develop the continent's scientists and innovators, and provide digital skills to 10,000 young Africans.

Title:

Content: Kenyan students to benefit from Sh33b Mastercard digital scheme

Kenyan students will be among 10,000 young people from across Africa set to benefit from a $275 million (Sh33 billion) digital transformation investment programme in Africa by the MasterCard Foundation.

The foundation, in partnership with Carnegie Mellon University and the Rwandan government, has announced a partnership deal aimed at scaling up opportunities for young people from economically disadvantaged communities on the continent.

The University of Nairobi is among the universities recently added to the African Engineering and Technology Network (Afretec) and set to benefit from the partnership.

In the deal, the foundation will invest $175 (Sh21 billion) in grants to fund Carnegie Mellon University-Africa (CMU-Africa), based in Rwanda, and another $100.7 (Sh12 billion) to fund CMU-Africa’s Centre for the Inclusive Digital Transformation of Africa.

CMU-Africa, on the other hand, will expand its instructional capacity, grow the annual cohort of students by more than 33 percent and provide additional financial assistance to more students.

Some 300 students will get direct scholarship support.

The university will also run programmes to recruit and provide opportunities for marginalised groups, including women, people with disabilities and the displaced.

In his speech, Mastercard Foundation president and CEO Reeta Roy said scholars and graduates from this programme will be at the forefront of creating technologies and companies that will generate jobs and enhance Africa's economic competitiveness

“We are excited that this initiative will strengthen the role of African universities in developing the continent's scientists, innovators, and problem-solvers, as well as generating knowledge that will benefit society more broadly,” Mr Roy said.

For his part Mr Farnam Jahanian, president of Carnegie Mellon University, said the investment will provide an opportunity to 10,000 young people to gain the skills to compete in the global marketplace, innovate, design new tools that solve regional and global challenges and bring those tools to the market.

“With this new collaboration, we will accelerate our shared mission and provide life-changing educational and career experiences for students across the continent,” Mr Jahanian said.

Among the opportunities for beneficiaries, particularly young women, young people with disabilities and forcibly displaced young people, are financial assistance to enroll at CMU-Africa, research collaborations through the Afretec network of higher learning institutions and pilot programmes for English-language immersions.

They will be offered to undergraduate students from other African universities to help prepare them for graduate study.

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What trends are emerging for African startups in 2022?

Carnegie Mellon University has partnered with the Mastercard Foundation to support African students, and the program aims to provide scholarship support to 300 students and recruit women, people with disabilities, and displaced persons.

The use of digital platforms and e-learning tools has improved the learning experience, and provided students with the skills needed to compete in the global market.

Title:

Content: Sunday, 05 November 2023 06: 31 GMT
5 Solutions Schools Apply to Improve Quality of Education
(MENAFN- Al-Bayan)
Schools have witnessed significant developments in the field of education and the use of technology during the past period, and educational institutions competed to implement a package of educational solutions that have been developed to improve the quality of education and enhance the experience of students.
The educational expert Mohammed Al-Omda said that improving the quality of education has become the main concern for educational institutions, as each seeks to achieve quality and work to improve its objectives to graduate students capable of facing challenges; therefore, educational institutions resort to some new educational solutions and apply them so that they can catch up.
These solutions aim to enhance interaction and critical thinking and enhance students ’ self-learning skills, and it is important that each educational institution applies these solutions according to its educational system and available capabilities.
He explained that project-based learning is one of the educational solutions that many organizations are looking for, and this method focuses on learning students through practical projects they undertake, in which students work to solve a complex problem or create a product or implement an experience, thus gaining knowledge and skills in a real and tangible context.
Teamwork
The Mayor stressed the importance of taking into account collaborative learning, which encourages teamwork and collaboration between students and teachers, which in turn contributes to enhancing critical thinking and developing communication and teamwork skills, in addition to applying game-based learning through the use of educational games to make the learning process fun and interactive.
For its part, Alef Educational Solutions said that it is keen to provide students with the tools that enable them to achieve their educational goals, and seeks to empower students through innovative educational solutions, and provide them with the necessary tools and resources to achieve excellence in the digital age, through the use of the capabilities of artificial intelligence and machine learning.
During the current academic year, Alef Education is developing a variety of technology-based educational solutions for students, including core programs and tracks, which aim to enhance student success by integrating game elements and motivational tools into its system. For example, once goals are completed, students receive stars and badges. Liv.
Students also get a place on the leaderboard of the class. Teachers can automatically create and deliver student testimonials, with easily printable copies available. These solutions aim to recognize students ’ outstanding performance and perseverance in the learning journey, and motivate them to move forward in achieving their educational goals.
Alf stressed that it offers additional means to enrich the educational experience and diversify the learning experience, including additional educational resources, advanced learning materials, and interactive activities to help students acquire wider knowledge.
ALF provides multi-trial adaptive diagnostic tests and various diagnostic tests to help teachers and students assess their performance and educational level.
This feature includes the ability to download performance reports in PDF format, limit the number of attempts, temporarily postpone tests to give students extra time to prepare, and the platform can be accessed and logged in using iPad and other smart tablets, allowing students to easily access learning materials and tests.
Quality of Education
Frank Oliveira, Consumer Sales Manager at Epson Middle East, said technology plays a crucial role in improving the quality of education, and according to a study of 1,400 respondents from the region, 60% of respondents in the education sector believe technology gives students better access to educational materials.
The company is working to support new roles for teachers and increase the level of interaction and creative engagement in the classroom, with Epson investing around €1.14 million in research and development, reflecting the company ’ s commitment to a culture of creativity and innovation.
Oliveira pointed out that they offer a range of technical solutions, such as modern ink-free and heat-free printers, interactive projectors, scanning solutions and document cameras, all of which contribute to providing an ideal interactive learning environment.
For her part, Badria Al Yasi, Director of Salma Al Ansari Foundation School for Girls in Dubai, explained that online learning is a way for students to access educational materials, lessons and information anytime and anywhere, and they can learn at their own pace, so we are keen to make online learning a way for our students to enable them to learn on their own.
She said: We seek to employ the use of technology in education by focusing on educational applications, and multiple mediums to enhance learning, to improve the quality of education.
In addition to a blended learning application that combines traditional classroom instruction with online learning, students use online learning techniques to access learning materials and perform additional learning activities outside the classroom, while using the classroom to interact with the teacher and colleagues and apply the concepts learned online.
Education Technology
Robert Speed, Vice President of International Sales at Power School, said everyone is aware of the widespread and significant growth that education technology has recently achieved, with the global market size of the education technology sector reaching $85 billion in 2021.
Global education and training expenditures are expected to reach $10 trillion by 2030, driven by population growth in developed markets and the consequent need to expand expenditures, as well as the development of technology that requires the acquisition of new skills and the refinement of skills in more advanced economies.
Technology is key to improving the quality of education, as technologies help attract students ’ attention and provide interactive and personalized learning experiences, so we have been keen to provide a comprehensive platform that provides solutions that cover the needs of classrooms and students in homes, administrative and teaching bodies.
Smart Platforms
Education expert Akram Zaki Ibrahim, at the Emirates Private School in Abu Dhabi, pointed out that there are digital platforms supporting the subjects that can provide practical solutions and help the student to innovate, self-learn, research and audit. Video clips.
He pointed out that the platform (Alex) is an educational tool aimed at students in the subjects of science and mathematics.
The platform provides students with educational video content in Arabic and English in mathematics based on the style of learning and play, as well as the platform (Teg Tag).
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The African Tech Challenge has been instrumental in providing skills training to African youths, with a focus on reducing unemployment through skill transfers.

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Content: Technology transfer essential to unlocking jobs for African youths

25 Nov, 2022 - 00:11 0 Views
Ezekiel Machogu

The Herald

NAIROBI. – The young and expanding working-age population in Africa has been identified as the force which will drive the continent’s technological growth if properly harnessed. During an event held in Nairobi, Kenya on Tuesday to award students in technology, speakers said to remain competitive in the employment market, it is vital for African youth to gain new tech skills since they are the continent’s most valuable asset.

They were speaking at the awards ceremony of the seventh Africa Tech Challenge competition, sponsored by the Aviation Industry Corporation of China Limited in partnership with China’s embassy in Nairobi.

While addressing attendees during the awards ceremony in the Kenyan capital, Zhou Meifen, cultural counselor at the Chinese embassy in Nairobi, said the competition is significant because it is an avenue to reduce unemployment through skill transfers.

She hailed the program for expanding since it was launched in 2014 to 248 institutions with a reach across 10 African countries. Zhou also promised the Chinese government’s support in increasing the number of scholarships awarded to students in the program to study in China.

The seventh season of the technology challenge targeted 259 contestants from Kenya, Uganda, Ghana, Egypt, Zambia and Zimbabwe, with the top six teams walking away with numerous prizes. Titled ‘Limitless innovation’, this year’s competition focused on the rapidly developing construction industry, notably the design component. 65 teams from 45 schools took part in the competition.

Speaking at the awards ceremony, Xu Fei, AVIC vice-president for East and Central Africa, said the competition had made a comeback after a hiatus in the 2020/2021 season due to the Covid-19 pandemic.

“This season’s training was done online using an AVIC online learning platform. Following successful completion of online training, the participants will be provided with interview opportunities for internships or jobs. This is in addition to scholarships to pursue further studies at top institutions in China,” Xu said.

He added over the last six years, AVIC has devoted resources to providing essential skills to African youth for the modern job market through training and equipping technological institutions with the latest machines.

Ezekiel Machogu, Kenya’s minister for education, expressed pride in his ministry’s partnership with the Africa Tech Challenge program and encouraged more Chinese enterprises to invest in upskilling African youth as a way to spur employment and entrepreneurship.

“The Africa Tech Challenge has been instrumental in equipping our technical and vocational education and training institutions which have started manufacturing machine spare parts, some of which were exported to China,” Machogu said.

“We welcome more participants from the private sector including Chinese investors to participate in programs like the Africa Tech Challenge, which not only create employment but transfer the necessary skills for our young people to be entrepreneurs by opening businesses through the skills they acquire.”

The overall award in this year’s competition went to Luyanzi Institute of Technology from Uganda. – ChinaDaily.com

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Partnerships between African entities and foreign companies have been formed to provide essential skills for the modern job market, with AVIC providing skills training to African students.

The China-Africa partnership has led to the provision of scholarships for African students to study abroad, with a focus on developing the skills needed to compete in the global market.

The investment in digital infrastructure and education is expected to have a positive impact on the African economy, with a focus on developing the skills needed to compete in the global market.

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Content: World News
ECA president calls for digital education in Africa
Gatete, Executive Secretary of the African Union (AU), said Africa must accelerate digital connectivity, accessibility and affordability to bridge the continent ’ s digital divide, speaking at the 44th Ordinary Session of the AU Executive Council.
Education was a fundamental human right and a duty, as a key tool for achieving Africa's collective social and economic development goals.
The African Union must commit to transforming the education system on the continent into a "fit for purpose" system in today's world.
The session, which brings together foreign ministers of African Union member states from 14 to 15 February, takes place under the African Union ’ s 2024 theme: “Africa ’ s education ready for the 21st century: building resilient education systems to increase access to education ”, to inclusive lifelong learning, quality and relevance in Africa.
He urged the countries of the continent to make the necessary investments in infrastructure, mobilize resources and develop appropriate approaches that would enable them to reap the benefits of their natural and human capital, as well as demographic dividends.
“By 2030, almost one in two young people in the world will be African, but the changing demographic dynamics are not matched by the acquisition of vital skills that enable Africans to fully participate in the changing workforce.
While recalling that African leaders had questioned the importance of the colonial education system in 1960 to meet the continent's development needs, the Executive Secretary urged African countries to prepare their youth for the future labour market.
He also urged African governments to focus more on science, technology, engineering and mathematics (STEM) to generate more wealth on the continent.
“There is no doubt that it makes sense to increase investments in the African education system in areas that improve productivity and enhance global competitiveness, ” Gatete said.
According to the Executive Secretary, insufficient resources, lack of education and lack of basic computational skills limit Africa ’ s STEM landscape.
So we have to ask ourselves, “What investments do we need to make today to generate a workforce for the future? ”
Gatete urged African leaders to strengthen transcontinental education networks and knowledge sharing within Africa, as well as reduce the gender digital divide to improve education on the continent.
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By 2030, Africa will have nearly half of the world's young people, and investing in education and digital infrastructure is necessary to prepare them for the future labor market.

The focus on STEM education is crucial, with EdTech bridging the gap between theory and practice in STEM education, and promoting critical thinking and problem-solving skills.

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How Education Technology Can Prepare Younger Adults For STEM Careers

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The landscape of STEM (Science, Technology, Engineering, and Mathematics) careers is evolving rapidly, demanding a new approach to education that prepares younger adults for future challenges and opportunities. At the heart of this transformation lies education technology (EdTech), which has become a vital tool in equipping students with the skills and knowledge they need to succeed.

One of the critical ways EdTech impacts STEM education is by bridging the gap between theoretical knowledge and practical application. Traditional education methods often struggle to keep pace with the rapid advancements in STEM fields. However, EdTech tools, such as interactive simulations, virtual labs, and online coding platforms, enable students to engage with complex concepts in a hands-on manner. These technologies make abstract ideas tangible, allowing students to experiment and learn through doing, which is crucial for grasping STEM subjects.

Moreover, EdTech promotes critical thinking, problem-solving, and adaptability—skills that are indispensable in STEM careers. Through gamified learning experiences and project-based assignments, students are encouraged to approach problems creatively and collaboratively. This shift from rote memorization to active learning helps students develop a deeper understanding of STEM concepts and prepares them for real-world challenges. EdTech platforms also provide personalized learning experiences, catering to individual learning styles and paces, ensuring that no student is left behind.

In addition to enhancing academic achievement, EdTech plays a significant role in making STEM education more accessible and inclusive. Online courses and digital resources can reach students in remote or underserved areas, providing them with opportunities that would otherwise be unavailable. This democratization of education helps to level the playing field, allowing a more diverse group of students to pursue STEM careers. Additionally, EdTech can support students with different learning needs by offering adaptive learning technologies that tailor content to individual requirements.

I recently came across Jeffrey Harvey PE’s work. Harvey is a seasoned professional engineer and author, who brings invaluable insights into the intersection of EdTech and STEM education, particularly through his recent work in the K-12 space. His research highlights the pivotal role EdTech plays in shaping the next generation of STEM professionals.

Harvey's work in EdTech underscores the importance of early and continuous exposure to STEM concepts. By integrating innovative learning tools into K-12 education, students are not only prepared for higher education but are also inspired to pursue careers in STEM fields. His approach emphasizes the need for educators and policymakers to invest in EdTech solutions that foster a lifelong love of learning and curiosity in STEM subjects.

Harvey, with over 30 years of experience in the STEM fields, has dedicated his career to guiding young professionals. Having held leadership roles in Fortune 500 companies, he possesses a deep understanding of the technical and soft skills required in the industry. His latest book, STEM Secrets for Interviewing: 4 Secret Mindsets Essentials to Conquer Interviews Including the Top 71 Interview Questions, offers practical strategies for mastering STEM job interviews.

One of the challenges in integrating EdTech into STEM education is ensuring that teachers are adequately trained to use these tools effectively. Professional development programs and ongoing support are essential for educators to maximize the potential of EdTech in their classrooms. Schools and districts must prioritize teacher training and provide the necessary resources to help educators stay abreast of the latest technological advancements.

Furthermore, the implementation of EdTech must be accompanied by a thoughtful curriculum that aligns with industry needs. Collaboration between educational institutions and industry leaders can ensure that the skills being taught are relevant and up-to-date. Harvey's career, which spans both educational and industrial spheres, illustrates the importance of such partnerships in creating a robust STEM education ecosystem.

Looking ahead, the role of EdTech in preparing younger adults for STEM careers will only become more critical. As technological advancements continue to accelerate, the demand for skilled STEM professionals will grow. By embracing EdTech, we can equip students with the tools they need to thrive in this dynamic field. Jeffrey Harvey's insights and experiences serve as a testament to the transformative power of EdTech in shaping the future of STEM education.

Dr. Katie Bouman, Assistant Professor of Computing and Mathematical Sciences at the California Institute of Technology (Caltech), played a key role in developing the algorithm that created the first-ever image of a black hole, showcasing the power of interdisciplinary STEM research. While Dr. Katie Bouman is primarily known for her groundbreaking work in imaging black holes, she has indeed emphasized the importance of education and inspiring the next generation of scientists.

The integration of EdTech into STEM education is essential for preparing the next generation of professionals. By providing interactive, personalized, and accessible learning experiences, EdTech empowers students to develop the critical skills needed for success in STEM careers. Jeffrey Harvey's work highlights the importance of early exposure, effective teacher training, and industry collaboration in maximizing the impact of EdTech. As we look to the future, investing in EdTech will be crucial in ensuring that students are equipped to meet the challenges and opportunities of the evolving STEM landscape.

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EdTech has made STEM education more accessible and inclusive, providing personalized learning experiences for students, and supporting students with different learning needs.

The digital transformation of education has improved education equity, with digital technology collecting and analyzing student learning data.

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Continue to open up a new digital track for education
Related LINKS http: / / www.CRNT.com 2024-01-25 17: 20: 37
Beijing, January 25 / Recently, the National Education Work Conference in 2024 was held, and the key tasks of education throughout the year were deployed, which clearly proposed that "we should continue to open up a new digital track for education."
Adhere to the application of the king to take the road of integration, to intelligently empower education and governance, expand new international space, and lead education reform and innovation. "
General Secretary Xi Jinping pointed out in the fifth collective learning of the Political Bureau of the CPC Central Committee: "Education digitalization is an important breakthrough for China to open up a new track for education development and shape the new advantages of education development." At present, the rapid development of digital technology, accelerating and leading education reform and innovation, and constantly opening up a new digital track to further promote digital education, will provide effective support for China to promote education modernization.
In recent years, the digital construction of education in China has been rapidly promoted, and the results have been remarkable.
Data show that the current national primary and secondary schools (including teaching and learning points) Internet access rate reached 100%, 99.9% of the school export bandwidth reached more than 100M, more than 3 / 4 of the school to achieve wireless network coverage.
The national intelligent education public service platform has become an important channel for personalized independent learning, covering primary and secondary schools, vocational education, and higher education, and has basically built the world's largest education and teaching resource library.
With the deepening of the new round of scientific and technological revolution, new generation digital technologies such as big data, cloud computing, Internet of Things, and blockchain have been widely applied to achieve deep integration in various fields.
The core of the digital transformation of education lies in making full use of advanced digital information technology means, aiming at digital, networked and intelligent, and carrying out in-depth reform and innovation in the education and teaching process to improve teaching efficiency, improve teaching quality, and promote education equity.
Focus on the breadth and integration of technology applications.
Digital education breaks the geographical limitations of traditional education, which is conducive to the optimization and integration of high-quality educational resources, online courses, virtual classrooms, mobile learning and other learning methods, so that learning is more flexible and efficient.
On the current basis, it is necessary to further promote the iterative upgrading of technology, strengthen the application of digital technology, such as the introduction of virtual simulation, robots, AI big models and other technologies, and actively explore the deep integration of technology and education, and use it in classroom teaching and education management to maximize the value of various technical means in education.
Make full use of all kinds of digital technologies to build a large platform, large resources, and large service system, build an intelligent and connected smart campus and smart classroom, work together to build a digital learning environment for families and society, create an inclusive digital learning platform and content, create an “educational brain ” and learning portal, and build a digital education system that is fair, inclusive and open and cooperative.
Improve the efficiency and level of education with intelligent technology.
Give full play to the advantages of intelligent technology interconnection and open sharing, integrate digital technology into classroom teaching, promote and improve online and offline combined teaching mode, improve teaching quality and efficiency, and use virtual reality, augmented reality, metaverse and other technologies to create a more vivid and intuitive learning experience for students.
Through digital technology to collect and analyze students' learning data, to provide educators with a more comprehensive picture of students, help to achieve personalized and accurate teaching, tailor-made learning programs for each student, and achieve accurate knowledge drip irrigation.
Integrate into the digital technology upgrade training base, through intelligent technology training, practice and other methods, such as the development of virtual simulation teaching resources, explore virtual reality teaching, online experiments, gamified learning, etc., to carry out core skills training "do secondary school", improve teachers and students' digital literacy and ability, strengthen learning ability and efficiency.
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Overall, foreign investment in Africa is focused on developing the digital infrastructure and education sector, with a focus on providing the skills needed to compete in the global market.

Which sectors are Chinese investments in Africa focusing on?