Tag Archives: Democratic Republic of Congo
The economy of Democratic Republic of Congo (DRC) is losing 1,637 billion Congolese francs, or more than a billion dollars a year, to the effects of child undernutrition. This is equivalent to as much as 4.5 percent of Gross Domestic Product (GDP).*
Spine Africa Project appoints Dr. Denis Mukwege as Vice President and Dr. Roger Luhiriri as Executive Director
NEW YORK /PRNewswire/ — Spine Africa Project (SAP) has appointed Dr. Denis Mukwege , MD, as Vice President, and Dr. Roger Luhiriri , MD, as Executive Director. Drs. Mukwege and Luhiriri have been influential in raising international awareness of health issues and human rights violations in the regions of the eastern Congo. Their advocacy will bolster the efforts of the Project to raise funds to provide medical outreach and training and to build education infrastructure in the Democratic Republic of the Congo (DRC), important components of the larger mission to bring lasting social change to the country.
NEW YORK, December 5, 2012/African Press Organization (APO)/ – All sides of the conflict in eastern Democratic Republic of the Congo should halt attacks on journalists and media outlets, the Committee to Protect Journalists said today after a radio station was attacked and taken off the air.
ADDIS ABABA, Ethiopia, October 31, 2012/African Press Organization (APO)/ – Rwandese leader, President Paul Kagame today in Kigali opened the 7th African Economic Conference, calling it an opportunity for leading African economists to look beyond purely economic factors for solutions to Africa’s developmental problems.
Crisis in the east of the Democratic Republic of Congo / The European Union and its member states should withhold their budget support to Rwanda
BRUSSELS, Kingdom of Belgium, August 24, 2012/African Press Organization (APO)/ – Eurac welcomes the decision of several EU member states to temporary freeze their budget support to Rwanda. This decision comes following the publication by the Security Council of the interim report of the Group of Experts on the DR Congo (S/2012/348) as well as an addendum to the report addressing Rwanda support to armed groups in DR Congo . The freeze of budget support was temporary while awaiting the response of the government of Rwanda to the allegations contained in the Addendum. On July 27th the Government of Rwanda published its response.
The largest youth Soccer initiative in Africa
Business in Africa is booming. But are the commercial laws strong enough to sustain long-term growth ?
GREENVILLE, S.C., July 23, 2012 /PRNewswire/ — KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today announced that it is positively cited in the U.S. Government Accountability Office (GAO) report Conflict Mineral Disclosure Rule: SEC’s Actions and Stakeholder-Developed Initiatives (GAO-12-763). This report highlights KEMET’s “Making Africa Work” initiative of establishing a “closed-pipe” supply chain for responsible sourcing of tantalum from Katanga Province in the Democratic Republic of Congo (DRC).
WASHINGTON, June 26, 2012 — The World Bank today approved an International Development Association (IDA)* US$15 million technical assistance grant to strengthen Organisation pour l’Harmonisation en Afrique du Droit des Affaires (Organization for the Harmonization of Business Law in Africa) OHADA’s institutional capacity to support, in its sixteen member countries, selected aspects of investment climate reforms, including improved corporate financial reporting.
The Improved Investment Climate within OHADA project grant will also include a reform of the OHADA laws and institutions that aim to provide businesses with a more secure and cost-effective business legal framework, thus facilitating business formation and growth. Reform aims to facilitate regional integration by providing businesses with a common legal framework to foster economies of scale and increased competition across the region.
“Many of the investment climate hindrances that constrain investment are embedded in the OHADA Uniform Act,” says Elizabeth Lule, Acting Director, Africa Regional Integration (AFCRI) Unit. “One example is the high level of minimum capital requirements currently set at US$2,000 which is beyond the means of most entrepreneurs in the region. In contrast, most countries in the world have set no or a low capital requirement minimum because they recognized that a high minimum capital requirement hindered business formation and did not effectively protect creditors,” concludes Lule.
The key outcomes expected from the project are increased numbers of (a) commercial disputes referred to alternative dispute resolution (ADR) mechanisms; (b) newly registered companies within OHADA member countries; and (c) professional accountancy organizations admitted as members of IFAC. Regarding this last aspect, the admission of accountancy organizations as members of IFAC will be achieved by: (a) improving accounting standards, (b) strengthening professional standards and practices, and (c) developing a regional professional qualification curriculum.
Gilberto de Barros, the co Team Leader, noted that “Improving the investment climate through a regional project is also going to be more effective since the country by country approach already started has failed to substantially improve the investment climate.” The OHADA Project will thus complement the actions that are being implemented by OHADA member countries at the country level and improve help the investment climate since doing so requires the combination of reforms at both the regional and national levels in a context where the legal framework comprises both national and regional laws.
OHADA – Organization for the Harmonization of Business Law in Africa – was established in 1993 through a Treaty to improve the legal security and predictability of doing business in West and Central Africa. The 16 current member states are: Benin, Burkina Faso, Cameroon, Central African Republic (CAR), Chad, Comoros, Republic of Congo, Côte d’Ivoire, Gabon, Equatorial Guinea, Guinea, Guinea-Bissau, Mali, Niger, Senegal and Togo. The Democratic Republic of Congo (DRC) is due to become the 17th member in 2012. Throughout, this project appraisal document refers to 16 member countries.
The estimated population of the OHADA member countries is about 200 million-25percent of Sub-Saharan Africa (SSA), with a median GDP per capita of US$363 (US$754 for SSA).
* The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing loans (called “credits”) and grants for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 81 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change for 2.5 billion people living on less than $2 a day. Since 1960, IDA has supported development work in 108 countries. Annual commitments have increased steadily and averaged about $15 billion over the last three years, with about 50 percent of commitments going to Africa.
In Washington: Aby K. Toure, (202) 473-8302, email@example.com;
Stevan Jackson, (202) 458-5054, firstname.lastname@example.org
For more information on World Bank’s activities in Africa, visit: www.worldbank.org/afr
For more information on IDA, please visit: www.worldbank.org/ida
Visit us on Facebook: http://www.facebook.com/worldbankafrica
Be updated via Twitter: http://www.twitter.com/worldbankafrica
For our YouTube channel: http://www.youtube.com/worldbank
Africa Loses Billions in Potential Trade Earnings, Falls Short of Vast Promise in Cross-Border Business―New World Bank Report
Press Release No:2012/239/AFR
Washington, February 7, 2012 – With African leaders now calling for a continental free trade area by 2017 to boost trade within the continent, a new World Bank report shows how African countries are losing out on billions of dollars in potential trade earnings every year because of high trade barriers with neighboring countries, and that it is easier for Africa to trade with the rest of the world than with itself.
Unrestricted revenue critical in assisting the vulnerable during crises