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Developing World’s Share of Global Investment to Triple by 2030, Says New World Bank Report

Posted on 18 May 2013 by Africa Business

Seventeen years from now, half the global stock of capital, totaling $158 trillion (in 2010 dollars), will reside in the developing world, compared to less than one-third today, with countries in East Asia and Latin America accounting for the largest shares of this stock, says the latest edition of the World Bank’s Global Development Horizons (GDH) report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades.

Developing countries’ share in global investment is projected to triple by 2030 to three-fifths, from one-fifth in 2000, says the report, titled ‘Capital for the Future: Saving and Investment in an Interdependent World’. With world population set to rise from 7 billion in 2010 to 8.5 billion 2030 and rapid aging in the advanced countries, demographic changes will profoundly influence these structural shifts.

“GDH is one of the finest efforts at peering into the distant future. It does this by marshaling an amazing amount of statistical information,” said Kaushik Basu, the World Bank’s Senior Vice President and Chief Economist. “We know from the experience of countries as diverse as South Korea, Indonesia, Brazil, Turkey and South Africa the pivotal role investment plays in driving long-term growth. In less than a generation, global investment will be dominated by the developing countries. And among the developing countries, China and India are expected to be the largest investors, with the two countries together accounting for 38 percent of the global gross investment in 2030. All this will change the landscape of the global economy, and GDH analyzes how.”

Productivity catch-up, increasing integration into global markets, sound macroeconomic policies, and improved education and health are helping speed growth and create massive investment opportunities, which, in turn, are spurring a shift in global economic weight to developing countries. A further boost is being provided by the youth bulge. With developing countries on course to add more than 1.4 billion people to their combined population between now and 2030, the full benefit of the demographic dividend has yet to be reaped, particularly in the relatively younger regions of Sub-Saharan Africa and South Asia.

The good news is that, unlike in the past, developing countries will likely have the resources needed to finance these massive future investments for infrastructure and services, including in education and health care. Strong saving rates in developing countries are expected to peak at 34 percent of national income in 2014 and will average 32 percent annually until 2030. In aggregate terms, the developing world will account for 62-64 percent of global saving of $25-27 trillion by 2030, up from 45 percent in 2010.

“Despite strong saving levels to finance their massive investment needs in the future, developing countries will need to significantly improve their currently limited participation in international financial markets if they are to reap the benefits of the tectonic shifts taking place,” said Hans Timmer, Director of the Bank’s Development Prospects Group.

GDH paints two scenarios, based on the speed of convergence between the developed and developing worlds in per capita income levels, and the pace of structural transformations (such as financial development and improvements in institutional quality) in the two groups. Scenario one entails a gradual convergence between the developed and developing world while a much more rapid scenario is envisioned in the second.

The gradual and rapid scenarios predict average world economic growth of 2.6 percent and 3 percent per year, respectively, during the next two decades; the developing world’s growth will average an annual rate of 4.8 percent in the gradual convergence scenario and 5.5 percent in the rapid one.

In both scenarios, developing countries’ employment in services will account for more than 60 percent of their total employment by 2030 and they will account for more than 50 percent of global trade. This shift will occur alongside demographic changes that will increase demand for infrastructural services. Indeed, the report estimates the developing world’s infrastructure financing needs at $14.6 trillion between now and 2030.

The report also points to aging populations in East Asia, Eastern Europe and Central Asia, which will see the largest reductions in saving rates. Demographic change will test the sustainability of public finances and complex policy challenges will arise from efforts to reduce the burden of health care and pensions without imposing severe hardships on the old. In contrast, Sub-Saharan Africa, with its relatively young and rapidly growing population as well as robust economic growth, will be the only region not experiencing a decline in its saving rate.

In absolute terms, however, saving will continue to be dominated by Asia and the Middle East. In the gradual convergence scenario, in 2030, China will save far more than any other developing country — $9 trillion in 2010 dollars — with India a distant second with $1.7 trillion, surpassing the levels of Japan and the United States in the 2020s.

As a result, under the gradual convergence scenario, China will account for 30 percent of global investment in 2030, with Brazil, India and Russia together accounting for another 13 percent. In terms of volumes, investment in the developing world will reach $15 trillion (in 2010 dollars), versus $10 trillion in high-income economies. China and India will account for almost half of all global manufacturing investment.

“GDH clearly highlights the increasing role developing countries will play in the global economy. This is undoubtedly a significant achievement. However, even if wealth will be more evenly distributed across countries, this does not mean that, within countries, everyone will equally benefit,” said Maurizio Bussolo, Lead Economist and lead author of the report.

The report finds that the least educated groups in a country have low or no saving, suggesting an inability to improve their earning capacity and, for the poorest, to escape a poverty trap.

“Policy makers in developing countries have a central role to play in boosting private saving through policies that raise human capital, especially for the poor,” concluded Bussolo.

Regional Highlights:

East Asia and the Pacific will see its saving rate fall and its investment rate will drop by even more, though they will still be high by international standards. Despite these lower rates, the region’s shares of global investment and saving will rise through 2030 due to robust economic growth. The region is experiencing a big demographic dividend, with fewer than 4 non-working age people for every 10 working age people, the lowest dependency ratio in the world. This dividend will end after reaching its peak in 2015. Labor force growth will slow, and by 2040 the region may have one of the highest dependency ratios of all developing regions (with more than 5.5 non-working age people for every 10 working age people). China, a big regional driver, is expected to continue to run substantial current account surpluses, due to large declines in its investment rate as it transitions to a lower level of public involvement in investment.

Eastern Europe and Central Asia is the furthest along in its demographic transition, and will be the only developing region to reach zero population growth by 2030. Aging is expected to moderate economic growth in the region, and also has the potential to bring down the saving rate more than any developing region, apart from East Asia. The region’s saving rate may decline more than its investment rate, in which case countries in the region will have to finance investment by attracting more capital flows. The region will also face significant fiscal pressure from aging. Turkey, for example, would see its public pension spending increase by more than 50 percent by 2030 under the current pension scheme. Several other countries in the region will also face large increases in pension and health care expenditures.

Latin America and the Caribbean, a historically low-saving region, may become the lowest-saving region by 2030. Although demographics will play a positive role, as dependency ratios are projected to fall through 2025, financial market development (which reduces precautionary saving) and a moderation in economic growth will play a counterbalancing role. Similarly, the rising and then falling impact of demography on labor force growth means that the investment rate is expected to rise in the short run, and then gradually fall. However, the relationship between inequality and saving in the region suggests an alternative scenario. As in other regions, poorer households tend to save much less; thus, improvements in earning capacity, rising incomes, and reduced inequality have the potential not only to boost national saving but, more importantly, to break poverty traps perpetuated by low saving by poor households.

The Middle East and North Africa has significant scope for financial market development, which has the potential to sustain investment but also, along with aging, to reduce saving. Thus, current account surpluses may also decline moderately up to 2030, depending on the pace of financial market development. The region is in a relatively early phase of its demographic transition: characterized by a still fast growing population and labor force, but also a rising share of elderly. Changes in household structure may also impact saving patterns, with a transition from intergenerational households and family-based old age support to smaller households and greater reliance on asset income in old age. The region has the lowest use of formal financial institutions for saving by low-income households, and scope for financial markets to play a significantly greater role in household saving.

South Asia will remain one of the highest saving and highest investing regions until 2030. However, with the scope for rapid economic growth and financial development, results for saving, investment, and capital flows will vary significantly: in a scenario of more rapid economic growth and financial market development, high investment rates will be sustained while saving falls significantly, implying large current account deficits. South Asia is a young region, and by about 2035 is likely to have the highest ratio of working- to nonworking-age people of any region in the world. The general shift in investment away from agriculture towards manufacturing and service sectors is likely to be especially pronounced in South Asia, with the region’s share of total investment in manufacturing expected to nearly double, and investment in the service sector to increase by more than 8 percentage points, to over two-thirds of total investment.

Sub-Saharan Africa’s investment rate will be steady due to robust labor force growth. It will be the only region to not see a decrease in its saving rate in a scenario of moderate financial market development, since aging will not be a significant factor. In a scenario of faster growth, poorer African countries will experience deeper financial market development, and foreign investors will become increasingly willing to finance investment in the region. Sub-Saharan Africa is currently the youngest of all regions, with the highest dependency ratio. This ratio will steadily decrease throughout the time horizon of this report and beyond, bringing a long lasting demographic dividend. The region will have the greatest infrastructure investment needs over the next two decades (relative to GDP). At the same time, there will likely be a shift in infrastructure investment financing toward greater participation by the private sector, and substantial increases in private capital inflows, particularly from other developing regions.

Source: WorldBank.org

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Developing countries to dominate global saving and investment, but the poor will not necessarily share the benefits, says report

Posted on 18 May 2013 by Africa Business

STORY HIGHLIGHTS
  • Developing world’s share of global investment to triple by 2030
  • China, India will be developing world’s largest investors
  • Boost to education needed so poor can improve their well-being

In less than a generation, global saving and investment will be dominated by the developing world, says the just-released Global Development Horizons (GDH) report.

By 2030, half the global stock of capital, totaling $158 trillion (in 2010 dollars), will reside in the developing world, compared to less than one-third today, with countries in East Asia and Latin America accounting for the largest shares of this stock, says the report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades.

Titled ‘Capital for the Future: Saving and Investment in an Interdependent World’, GDH projects developing countries’ share in global investment to triple by 2030 to three-fifths, from one-fifth in 2000.

Productivity catch-up, increasing integration into global markets, sound macroeconomic policies, and improved education and health are helping speed growth and create massive investment opportunities, which, in turn, are spurring a shift in global economic weight to developing countries.

A further boost is being provided by the youth bulge. By 2020, less than 7 years from now, growth in world’s working-age population will be exclusively determined by developing countries. With developing countries on course to add more than 1.4 billion people to their combined population between now and 2030, the full benefit of the demographic dividend has yet to be reaped, particularly in the relatively younger regions of Sub-Saharan Africa and South Asia.

GDH paints two scenarios, based on the speed of convergence between the developed and developing worlds in per capita income levels, and the pace of structural transformations (such as financial development and improvements in institutional quality) in the two groups. Scenario one entails a gradual convergence between the developed and developing world while a much more rapid one is envisioned in the second.

In both scenarios, developing countries’ employment in services will account for more than 60 percent of their total employment by 2030 and they will account for more than 50 percent of global trade. This shift will occur alongside demographic changes that will increase demand for infrastructural services. Indeed, the report estimates the developing world’s infrastructure financing needs at $14.6 trillion between now and 2030.

The report also points to aging populations in East Asia, Eastern Europe and Central Asia, which will see the largest reductions in private saving rates. Demographic change will test the sustainability of public finances and complex policy challenges will arise from efforts to reduce the burden of health care and pensions without imposing severe hardships on the old. In contrast, Sub-Saharan Africa, with its relatively young and rapidly growing population as well as robust economic growth, will be the only region not experiencing a decline in its saving rate.

Open Quotes

Policy makers in developing countries have a central role to play in boosting private saving through policies that raise human capital, especially for the poor. Close Quotes

Maurizio Bussolo
Lead Author, Global Development Horizons 2013

In absolute terms, however, saving will continue to be dominated by Asia and the Middle East. In the gradual convergence scenario, in 2030, China will save far more than any other developing country — $9 trillion in 2010 dollars — with India a distant second with $1.7 trillion, surpassing the levels of Japan and the United States in the 2020s.

As a result, under the gradual convergence scenario, China will account for 30 percent of global investment in 2030, with Brazil, India and Russia together accounting for another 13 percent. In terms of volumes, investment in the developing world will reach $15 trillion (in 2010 dollars), versus $10 trillion in high-income economies. Again, China and India will be the largest investors among developing countries, with the two countries combined representing 38 percent of the global gross investment in 2030, and they will account for almost half of all global manufacturing investment.

“GDH clearly highlights the increasing role developing countries will play in the global economy. This is undoubtedly a significant achievement. However, even if wealth will be more evenly distributed across countries, this does not mean that, within countries, everyone will equally benefit,” said Maurizio Bussolo, Lead Economist and lead author of the report.

The report finds that the least educated groups in a country have low or no saving, suggesting an inability to improve their earning capacity and, for the poorest, to escape a poverty trap.

“Policy makers in developing countries have a central role to play in boosting private saving through policies that raise human capital, especially for the poor,” concluded Bussolo.

Regional Highlights:

East Asia and the Pacific will see its saving rate fall and its investment rate will drop by even more, though they will still be high by international standards. Despite these lower rates, the region’s shares of global investment and saving will rise through 2030 due to robust economic growth. The region is experiencing a big demographic dividend, with fewer than 4 non-working age people for every 10 working age people, the lowest dependency ratio in the world. This dividend will end after reaching its peak in 2015. Labor force growth will slow, and by 2040 the region may have one of the highest dependency ratios of all developing regions (with more than 5.5 non-working age people for every 10 working age people). China, a big regional driver, is expected to continue to run substantial current account surpluses, due to large declines in its investment rate as it transitions to a lower level of public involvement in investment.

Eastern Europe and Central Asia is the furthest along in its demographic transition, and will be the only developing region to reach zero population growth by 2030. Aging is expected to moderate economic growth in the region, and also has the potential to bring down the saving rate more than any developing region, apart from East Asia. The region’s saving rate may decline more than its investment rate, in which case countries in the region will have to finance investment by attracting more capital flows. The region will also face significant fiscal pressure from aging. Turkey, for example, would see its public pension spending increase by more than 50 percent by 2030 under the current pension scheme. Several other countries in the region will also face large increases in pension and health care expenditures.

Latin America and the Caribbean, a historically low-saving region, may become the lowest-saving region by 2030. Although demographics will play a positive role, as dependency ratios are projected to fall through 2025, financial market development (which reduces precautionary saving) and a moderation in economic growth will play a counterbalancing role. Similarly, the rising and then falling impact of demography on labor force growth means that the investment rate is expected to rise in the short run, and then gradually fall. However, the relationship between inequality and saving in the region suggests an alternative scenario. As in other regions, poorer households tend to save much less; thus, improvements in earning capacity, rising incomes, and reduced inequality have the potential not only to boost national saving but, more importantly, to break poverty traps perpetuated by low saving by poor households.

The Middle East and North Africa has significant scope for financial market development, which has the potential to sustain investment but also, along with aging, to reduce saving. Thus, current account surpluses may also decline moderately up to 2030, depending on the pace of financial market development. The region is in a relatively early phase of its demographic transition: characterized by a still fast growing population and labor force, but also a rising share of elderly. Changes in household structure may also impact saving patterns, with a transition from intergenerational households and family-based old age support to smaller households and greater reliance on asset income in old age. The region has the lowest use of formal financial institutions for saving by low-income households, and scope for financial markets to play a significantly greater role in household saving.

South Asia will remain one of the highest saving and highest investing regions until 2030. However, with the scope for rapid economic growth and financial development, results for saving, investment, and capital flows will vary significantly: in a scenario of more rapid economic growth and financial market development, high investment rates will be sustained while saving falls significantly, implying large current account deficits. South Asia is a young region, and by about 2035 is likely to have the highest ratio of working- to nonworking-age people of any region in the world. The general shift in investment away from agriculture towards manufacturing and service sectors is likely to be especially pronounced in South Asia, with the region’s share of total investment in manufacturing expected to nearly double, and investment in the service sector to increase by more than 8 percentage points, to over two-thirds of total investment.

Sub-Saharan Africa’s investment rate will be steady due to robust labor force growth. It will be the only region to not see a decrease in its saving rate in a scenario of moderate financial market development, since aging will not be a significant factor. In a scenario of faster growth, poorer African countries will experience deeper financial market development, and foreign investors will become increasingly willing to finance investment in the region. Sub-Saharan Africa is currently the youngest of all regions, with the highest dependency ratio. This ratio will steadily decrease throughout the time horizon of this report and beyond, bringing a long lasting demographic dividend. The region will have the greatest infrastructure investment needs over the next two decades (relative to GDP). At the same time, there will likely be a shift in infrastructure investment financing toward greater participation by the private sector, and substantial increases in private capital inflows, particularly from other developing regions.

 

Source: WorldBank.org

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Global Trade Partners in the 21st Century

Posted on 15 May 2013 by Africa Business

WASHINGTON, May 15, 2013/African Press Organization (APO)/ — Remarks

Robert D. Hormats

Under Secretary for Economic Growth, Energy, and the Environment

World Economic Forum

Pretoria, South Africa

May 14, 2013

 

 

As Prepared

 

Thank you Lyal for the kind introduction.

I am delighted to be in South Africa again. I visited last fall with Secretary of State Hillary Clinton.

What was most striking then, and continues to be the case today, is the extent to which the image of Africa has changed. According to the IMF, growth in sub-Saharan Africa will surge to 6.1% next year, well ahead of the global average of 4%.

Africa is booming in nearly every sector, ranging from massive energy developments in Mozambique, Tanzania, Ghana, and other countries; to the growth of Rwanda and Kenya’s information and communications technology sectors; to South Africa’s thriving auto industry. And, though far from declaring victory, Africa is reaching a turning point in its hard-fought battles against poverty and corruption.

Today’s Africa looks nothing like what, in 2000, The Economist referred to as the “Hopeless Continent.” It is critical that we concentrate the world’s eyes on the new image of Africa, that of progress and promise. Perspectives are evolving—in 2011, The Economist referred to Africa as the “Rising Continent” and, last March, as the “Hopeful Continent.”

Trade is at the heart of Africa’s economic resurgence. So, in this context, I will speak first about America’s vision for global trade in the 21st century and then, focus on implications and, indeed, opportunities for Africa. America’s global trade agenda in the 21st century is shaped by a foundation laid, in large part, in the mid-20th century. After World War II, American and European policymakers worked together to build a set of international institutions that embodied democratic and free market principles.

The GATT—which led to the WTO—World Bank, IMF, and the OECD were designed to foster international economic cooperation. These institutions were vital to the economic prosperity of the United States, and to the success of America’s foreign policy and national security for the next three generations.

As we move into the 21st century, a new multi-polar global economy has surfaced. The emergence of a new group of economic powerhouses—Brazil, Russia, India, and China, of course, but also countries in Africa—has created momentum (if not necessity) for greater inclusiveness in the global trading system.

At the same time, these new players must assume responsibilities for the international economic system commensurate with the increasing benefits they derive from the global economy. In addition to the geography of international trade, the nature of trade and investment has evolved to include previously unimaginable issues such as e-commerce and sustainability.

So, part of our vision for trade in the 21st century is to build a system that is more inclusive, recognizes the new realities of economic interdependence, and matches increased participation in the global trading system with increased responsibility for the global trading system.

We are making progress with bringing new players into the global trading system as equal partners. Free Trade Agreements with Korea, Colombia, and Panama entered into force last year.

And, we are continuing negotiations on the Trans-Pacific Partnership—or TPP as it is more widely known. With Japan’s anticipated entry into the negotiations, TPP will grow to include 12 countries of different size, background, and levels of development. The agreement, when finalized, will encompass nearly 40% of global GDP and one-third of global trade.

In addition to TPP, we are embarking on a Transatlantic Trade and Investment Partnership with the European Union. TTIP—as it is being called—will strengthen economic ties between the United States and Europe, and enhance our ability to build stronger relationships with emerging economies in Asia, Africa, and other parts of the world.

TPP and TTIP are truly historic undertakings. Our objective is not only to strengthen economic ties with the Asia-Pacific and Europe, but also to pioneer approaches to trade and investment issues that have grown in importance in recent years.

These agreements will seek to break new ground by addressing a multitude of heretofore unaddressed non-tariff barriers, setting the stage for convergence on key standards and regulations, and establishing high quality norms and practices that can spread to other markets. TPP, for example, will raise standards on investment and electronic commerce, and afford protections for labor and the environment.

Our agenda also includes strengthening the multilateral trading system through the World Trade Organization. For example, the United States would like to see a multilateral Trade Facilitation Agreement, which would commit WTO Members to expedite the movement, release, and clearance of goods, and improve cooperation on customs matters. A Trade Facilitation Agreement would be a win-win for all parties—Africa especially.

Cross-border trade in Africa is hindered by what the World Bank calls “Thick Borders.” According to the latest Doing Business Report, it takes up to 35 days to clear exports and 44 days to clear imports in Africa. Clearing goods in OECD countries, in contrast, takes only 10 days on average and costs nearly half as much. Countries like Ghana and Rwanda have benefited tremendously from the introduction of trade facilitation tools and policies.

Ghana, for instance, introduced reforms in 2003 that decreased the cost and time of trading across borders by 60%, and increased customs revenue by 50%. A multilateral Trade Facilitation Agreement will create a glide path for increased trade with and within Africa.

Our views for 21st century global trade partnerships go beyond Europe and the Asia-Pacific, and efforts at the WTO. We are committed to supporting Africa’s integration into the global trading system. The cornerstone of our trade relationship with sub-Saharan Africa is the African Growth and Opportunity Act—known as AGOA. Of all of our trade preference programs, AGOA provides the most liberal trade access to the U.S. market.

Exports from Africa to the United States under the AGOA have grown to $34.9 billion in 2012. While oil and gas still represent a large portion of Africa’s exports, it is important to recognize that non-petroleum exports under AGOA have tripled to nearly $5 billion since 2001, when AGOA went into effect. And, compared to a decade ago, more than twice the number of eligible countries are exporting non-petroleum goods under AGOA.

South Africa, in particular, has made great strides in diversifying its exports to the United States. Thanks to AGOA, the United States is now South Africa’s main export market for passenger cars, representing more than 50% of exported value in 2012. Because AGOA is such an important mechanism for African countries to gain access to the U.S. market, the Administration is committed to working with Congress on an early, seamless renewal of AGOA. Our trade relationship with Africa goes beyond AGOA. For instance, AGOA represents only one-quarter of South African exports to the United States. The composition of South Africa’s exports to the United States, moreover, reflects complex interdependencies and industrial goods.

And, our trade relationship with Africa is not just about one-way trade. There is an immense opportunity for U.S. companies to do business on the continent.

We recently launched the “Doing Business in Africa Campaign” to help American businesses identify and seize upon trade and investment opportunities in Africa. The campaign was announced in Johannesburg, in part, because South Africa can play a prominent role in directing U.S. investment into other parts of the continent.

Although progress has been made on diversifying exports beyond energy, there is much more to be done. African ingenuity and entrepreneurship must be unleashed to drive innovation and growth throughout the continent. This requires closer integration to share ideas, transfer knowledge, and partner on solutions. Through AGOA and the “Doing Business in Africa Campaign”, we are promoting a business climate in Africa that enables and encourages trade and investment. However, realizing these goals is goes beyond trade preferences and commercial linkages.

Africa is also featured in America’s vision for global trade in the 21st century.

For example, we recently launched the U.S.-East African Community Trade and Investment Partnership—the first of its kind—to expand two-way trade and investment. The Partnership is designed to build confidence among the private sector by building a more open and predictable business climate in East Africa. We are considering a variety of mechanisms to accomplish this, including a regional investment treaty and trade facilitation agreement. The Partnership highlights our desire to help Africa integrate and compete in today’s global economy.

I will conclude with one final point. I began by saying that trade is at the heart of Africa’s economic resurgence. Trade is also at the heart of America’s economic recovery. We have a common interest and a common goal.

When it comes to enhanced trade, what is good for Africa is good for America. And what is good for America is good for Africa.

Thank you.


SOURCE

US Department of State

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IMF Executive Board Concludes 2013 Article IV Consultation with Seychelles

Posted on 15 May 2013 by Africa Business

VICTORIA, Mahé, May 15, 2013/African Press Organization (APO)/ On May 8, 2013, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Seychelles. 1

Background

In the few years since the 2008 debt crisis, Seychelles has made remarkable strides, quickly restoring macroeconomic stability and creating room for private-sector activity. Macroeconomic developments in the tourism-based island economy have been favorable, despite the challenging global environment. Notably, growth held up as the tourism industry successfully attracted arrivals from non-traditional markets as European arrivals slumped, while a surge in foreign direct investment (FDI) supported construction in recent years. For the most part, inflation remained contained, and the external position improved markedly following liberalization of the exchange rate in 2008 and debt restructuring started in 2009.

In 2012, despite robust tourist arrivals, growth moderated to 2.9 percent as large investment projects were completed. Inflation spiked in July 2012 to 8.9 percent fueled by global as well as domestic developments, but has since abated as a result of successful monetary tightening. The external position continued to improve, albeit modestly. In particular, the current account deficit declined slightly, but remained high at around 22 percent of gross domestic product (GDP), but was fully financed by FDI and external borrowing, leading to a modest rise in reserves. Debt restructuring is nearly complete, with only one loan agreement awaiting signature.

Fiscal policy in 2012 continued to support debt sustainability. The primary surplus is projected to have risen to 6.2 percent of GDP, in part due to sizable windfall revenues which were partly saved. Buoyant revenue and grants paved the way for needed capital expenditure. Notwithstanding, public debt increased by over 3 percentage points of GDP due mostly to currency depreciation and the government assuming liabilities of Air Seychelles.

Monetary policy was tightened sharply in 2012 in response to rising inflation and an unhinging of the exchange rate, and has since been relaxed. Starting in late-2011, rising global food and fuel prices coupled with adjustments in administered prices pushed prices higher. This was reinforced by current account pressures resulting from lower exports of transportation services in the wake of the restructuring of Air Seychelles. The looming inflation-depreciation spiral was broken in mid-2012 by two small foreign exchange market interventions by the Central Bank of Seychelles and a tightening of monetary policy. By end-2012, inflation had fallen to 5.8 percent and the exchange rate had strengthened beyond its end-2011 level.

Broad-based structural reform over the past five years has worked to improve financial performance of the public sector and increase private sector participation in economic activity. Statistical capacity continues to be strengthened. Seychelles subscribes to the IMF’s General Data Dissemination Standard (GDDS) and is making progress at compiling higher frequency economic data which will support strengthened macroeconomic oversight and analysis.

Executive Board Assessment

Executive Directors commended the authorities for their strong policy implementation. Macroeconomic stability has been restored and growth has remained resilient. While the outlook is favorable, the economy is vulnerable to an uncertain global environment and domestic risks. Directors called for continued commitment to sound policies and structural reforms to preserve macroeconomic and financial stability, build policy buffers, and foster strong and inclusive growth.

Directors welcomed the steps to improve financial discipline at the central government level and the recent introduction of the VAT. They agreed that strengthening the oversight and financial position of parastatals, including through adequate price mechanisms, and further progress in public financial management will be key to ensuring fiscal sustainability. For the medium term, Directors supported the authorities’ fiscal policy stance which aims at targeting a primary fiscal surplus and reducing public debt to 50 percent of GDP. They welcomed that the debt restructuring is nearly complete and encouraged the authorities to exercise caution when contracting new external debt.

Directors called for continued efforts to improve the monetary framework in order to stabilize inflation expectations and policy interest rates. Absorbing excess liquidity over time will be important to strengthen the monetary anchor and monetary transmission mechanism. Directors considered that a further increase in international reserves, as market conditions permit, would provide a stronger buffer against shocks. Directors noted that the financial system is sound and welcomed the steps being taken to improve the functioning of the credit market.

Directors commended the efforts towards improving the business and investment climate, which is key to avoid a potential middle-income trap and to support broad-based growth. They encouraged the authorities to foster private sector-led growth by addressing infrastructure gaps, engendering lower cost and improved access to credit, correcting data weaknesses, and moving ahead with plans for greater workforce education and capacity building.

 

Seychelles: Selected Economic and Financial Indicators, 2010–14

 

2010    2011    2012    2013    2014

Actual    Actual    Est.    Proj.    Proj.

 

(Percentage change, unless otherwise indicated)

National income and prices

 

Nominal GDP (millions of Seychelles rupees)

11,746    13,119    14,145    15,292    16,461

Real GDP

5.6    5.0    2.9    3.3    3.9

CPI (annual average)

-2.4    2.6    7.1    4.5    3.4

CPI (end-of-period)

0.4    5.5    5.8    4.3    3.1

GDP deflator average

-3.6    6.4    4.8    4.6    3.6

(Percentage change, unless otherwise indicated)

Money and credit

 

Credit to the economy

21.4    6.2    2.5    13.0    …

Broad money

13.5    4.5    -2.3    0.1    …

Reserve money

34.7    -2.7    6.9    12.3    …

Velocity (GDP/broad money)

1.6    1.7    1.9    2.1    …

Money multiplier (broad money/reserve money)

4.2    4.5    4.1    3.6    …

(Percent of GDP)

Savings-Investment balance

 

External savings

23.0    22.7    21.7    23.2    18.4

Gross national savings

13.6    12.4    17.3    15.1    15.5

Of which: government savings

7.8    10.6    14.3    12.1    11.0

Gross investment

36.6    35.1    39.0    38.2    33.8

Of which: government investment

8.6    8.1    12.0    9.2    7.8


Government budget


Total revenue, excluding grants

34.1    35.8    37.6    36.4    35.6

Expenditure and net lending

32.5    35.7    40.2    38.5    36.0

Current expenditure

27.2    27.6    28.8    28.8    27.3

Capital expenditure and net lending

5.3    8.1    11.4    9.8    8.7

Overall balance, including grants

2.5    2.5    2.4    1.8    2.0

Primary balance

8.6    5.4    6.2    5.1    4.4

Total public debt

81.6    74.3    77.3    72.0    65.3

Domestic1

32.5    28.0    27.7    25.7    18.6

External

49.1    46.2    49.6    46.3    46.7

(Percent of GDP, unless otherwise indicated)

External sector

 

Current account balance including official transfers

-23.0    -22.7    -21.7    -23.2    -18.4

Total stock of arrears (millions of U.S. dollars)

30.3    9.0    2.7    …    …

Total public external debt outstanding (millions of U.S. dollars)

478    490    512    558    597

(percent of GDP)

49.1    46.2    49.6    46.3    46.7

Terms of trade (= – deterioration)

-6.7    -6.4    -0.4    0.6    1.2

Real effective exchange rate (average, percent change)

4.4    -7.4    …    …    …

Gross official reserves (end of year, millions of U.S. dollars)

254    277    305    317    326

Months of imports, c.i.f.

2.3    2.5    2.6    2.7    2.7

Exchange rate


Seychelles rupees per US$1 (end-of-period)

12.1    13.7    13.0    …    …

Seychelles rupees per US$1 (period average)

12.1    12.4    13.7    …    …

 

Sources: Central Bank of Seychelles; Ministry of Finance; and IMF staff estimates and projections.

1 Excludes debt issued in 2012 for monetary purposes (5.4 percent of GDP), as proceeds are kept in a blocked account with the Central Bank.

1 Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.imf.org/external/np/sec/misc/qualifiers.htm

 

SOURCE

International Monetary Fund (IMF)

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China and Russia commit to World Energy Congress

Posted on 14 May 2013 by Africa Business

“Most important energy event in the world this year”

SEOUL – May 14, 2013: The Chinese and Russian governments have committed to sending high-level delegations to the World Energy Congress in South Korea in October, organizers said.

The Organizing Committee for the 2013 World Energy Congress said it had been notified that China’s National Energy Administration (NEA) would send a ministerial-level delegation to the event and that the government body had advised Chinese energy companies of its plan to attend.

The Chinese delegation will be one of the largest to the Congress, which will host up to 5,000 delegates from around the world, organizers said.

The Committee further announced that Alexander Novak, the Minister of Energy of the Russian Federation, would lead a delegation that will include the Russian ministries of Natural Resources and Environment, and of Foreign Affairs, as well as Gazprom, Transneft, Rosneft, RusHydro, the State Atomic Energy Corporation and other major energy companies.

The Russian delegation is planning a “Russia Day” event at the Congress.

The World Energy Congress is the world’s premier energy gathering and will take place on 13–17 October in the city of Daegu.

More than 200 prominent speakers, including energy ministers, industry CEOs and top experts and researchers, will answer the most pressing questions facing the global energy industry today

Under the theme of ‘Securing Tomorrow’s Energy Today’, topics range from the future prospects of the oil & gas, coal, nuclear, and renewables sectors to the tough policy decisions needed to balance the often conflicting priorities of energy security, universal access to affordable energy, and environmental protection. Delegates will also be given insights into how finance and innovation are shaping our energy future.

“We are delighted with the decision by the governmental and industry leaders in China and Russia,” said Dr. Christoph Frei, Secretary General of the London-based World Energy Council, which hosts the triennial event. “Having just been in China and Russia I know that this high level participation in the Congress will provide a fascinating overview of the opportunities and challenges of our energy world in transition. Such engagement by the world’s biggest players is crucial for a meaningful event.”

“Both countries are in the centre of many critical energy developments. We want to understand, within the global energy transformation, whether there is a refocus of ambition within the respective governments,” he said.

“We look forward to hearing more about developments in Russia and the energy challenges and opportunities in China at the World Energy Congress in October,” said Cho Hwan-eik, Chair of the Organising Committee of the 2013 World Energy Congress.

He added: “This will be the first time in the 90-year history of the event that China will have participated in such a significant way. For both the Chinese and Russians now to commit to the Daegu event underscores the fact that the Congress is the most important event on the global energy calendar this year.”

The Organising Committee also confirmed that a number of other governments are currently planning significant activity for the Congress. Mr. Cho added, “The discussions we are having with many governments at this early stage in our planning only serve to highlight the importance of this global event being staged in the heart of Asia at a time of significant transition in the energy sector.”

Media Enquiries:

Organizing Committee, World Energy Congress

Inang Park

Tel: +82 (2) 739 7016

M: 010 3213 7465

Email: inang.park@insightcomms.com

John Burton

Tel: +82 (2) 739 7045

M: +82 (0)10 2437 6265

Email: john.burton@insightcomms.com

World Energy Congress – international

Seán Galvin

Tel: +44 (0)20 7269 7133

M: +44 (0)7788 568 245

Email: sean.galvin@fticonsulting.com

World Energy Council

Monique Tsang

Tel: +44 (0)20 3214 0616

Email: tsang@worldenergy.org

About the World Energy Congress

The World Energy Congress is the world’s premier energy gathering. The triennial World Energy Congress has gained recognition since the first event in 1923 as the premier global forum for leaders and thinkers to debate solutions to energy issues. In addition to the discussions, the event provides an opportunity for executives to display their technologies and explore business opportunities. With the upcoming Congress in Daegu the event will have been held in 20 major cities around the world since its founding.

Further details at www.daegu2013.kr and @WECongress

About the World Energy Council (WEC)

The World Energy Council (WEC) is the principal impartial network of leaders and practitioners promoting an affordable, stable and environmentally sensitive energy system for the greatest benefit of all. Formed in 1923, WEC is the UN-accredited global energy body, representing the entire energy spectrum, with more than 3000 member organisations located in over 90 countries and drawn from governments, private and state corporations, academia, NGOs and energy related stakeholders. WEC informs global, regional and national energy strategies by hosting high-level events, publishing authoritative studies, and working through its extensive member network to facilitate the world’s energy policy dialogue.

Further details at www.worldenergy.org and @WECouncil

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IFC fait la promotion des services financiers mobiles en Côte d’Ivoire afin de favoriser un développement inclusif

Posted on 14 May 2013 by Africa Business

ABIDJAN, Côte d’Ivoire, 14 mai 2013/African Press Organization (APO)/ IFC, un membre du Groupe de la Banque mondiale, et la Fondation MasterCard ont réuni aujourd’hui des acteurs majeurs de l’industrie financière afin de donner un élan supplémentaire aux services financiers mobiles en Côte d’Ivoire. L’événement a permis de souligner le potentiel considérable du marché, notamment pour étendre l’accès au financement aux foyers à faibles revenus, aux petites entreprises et dans les zones difficiles d’accès.

 

En Côte d’Ivoire, la pénétration de la téléphonie mobile est supérieure à 90 pour cent, mais 14 pour cent seulement des Ivoiriens ont accès à des services financiers. Les opérateurs de réseau mobile ont enregistré plus de deux millions de clients des services financiers mobiles au cours des trois dernières années. Le marché ivoirien des services financiers mobiles est le plus grand et le plus dynamique de la région de l’Union économique et monétaire ouest-africaine.

 

« Pour favoriser une prospérité partagée par tous en Côte d’Ivoire, il est important d’améliorer l’accès au financement. IFC et la Fondation

MasterCard souhaitent aider les institutions financières locales à mener à bien le développement des services bancaires et financiers mobiles proposés par des distributeurs en Côte d’Ivoire, ce qui permettra d’étendre la couverture des services financiers à ceux qui ne sont actuellement pas bancarisés », a déclaré Cassandra Colbert, représentante résidente d’IFC en Côte d’Ivoire.

 

Lors du séminaire qui s’est tenu à Abidjan, IFC a présenté l’argument commercial en faveur de la participation au développement des services financiers mobiles en Côte d’Ivoire. L’atelier marquait le commencement de la mise en œuvre d’un programme de quatre ans entrepris par IFC et la Fondation MasterCard, visant à contribuer au développement et à l’expansion des services financiers mobiles dans le pays.

 

IFC et la Fondation MasterCard considèrent que l’accès aux services financiers est un outil essentiel à la réduction de la pauvreté, susceptible de véritablement changer les vies des personnes marginalisées sur le plan économique.

 

À propos du Partenariat pour l’inclusion financière En janvier 2012, IFC et la Fondation MasterCard ont lancé le Partenariat pour l’inclusion financière, un programme de 37,4 millions d’USD sur cinq ans destiné à permettre à 5,3 millions de personnes non bancarisées en Afrique subsaharienne d’avoir accès à des services financiers. L’objectif du programme est de développer des modèles d’entreprise de microfinance durables capables de fournir des services bancaires à grande échelle et bon marché, et d’apporter une assistance technique aux opérateurs de réseau mobile, aux banques et aux fournisseurs de services de paiement afin d’accélérer le développement de services financiers mobiles bon marché.

 

À propos d’IFC

IFC, membre du Groupe de la Banque mondiale, est la principale institution de développement au service exclusif du secteur privé. Elle aide les pays en développement à atteindre une croissance durable en finançant des investissements, en mobilisant des capitaux sur les marchés financiers internationaux et en fournissant des services-conseil aux entreprises et aux pouvoirs publics. Au cours de l’exercice 2012, IFC a porté ses investissements à un niveau record de plus de 20 milliards de dollars en exploitant les capacités du secteur privé pour créer des emplois, stimuler l’innovation et résoudre les problèmes de développement les plus pressants.

Pour plus d’informations, veuillez consulter le site : http://www.ifc.org.

 

SOURCE

International Finance Corporation (IFC) – The World Bank

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« Forum de la BAD sur l’Egalité de Genre » « Transformer l’Etat de l’Egalité de Genre en Afrique»

Posted on 13 May 2013 by Africa Business

GROUPE DE LA BANQUE AFRICAINE DE DÉVELOPPEMENT
AFRICAN DEVELOPMENT BANK GROUP

Tunis le 10 mai 2013

La Division du Genre et du Développement Social de la Banque Africaine de Développement (BAD) a organisé ce vendredi 10 mai 2013 à Tunis, le premier Forum sur l’Egalité de Genre en présence de plusieurs personnalités de renommée internationale parmi lesquelles de nombreux ministres Africains en charge du Genre, des acteurs de la société civile, des opérateurs du secteur privé et des représentants des institutions internationales.

Emmanuel MBI EBOT, Vice-Président de la BAD, a ouvert le Forum en déclarant  que « faire avancer l’égalité du Genre, c’est faire avancer l’Afrique, sa croissance économique et son développement humain ». Il a par ailleurs ajouté que «  l’Afrique est un continent de contrastes qui cumule par exemple les taux les plus élevés et les plus faibles quant à la participation des femmes à la vie politique ».

Dans sa présentation du rapport sur l’état de l’Egalité de Genre en Afrique, Ginette-Ursule YOMAN, Chef de la division du Genre et du Développement à la BAD, a souligné que :

la croissance africaine est accompagnée d’une persistance des inégalités et des disparités liées au genre.

les disparités limitent la participation des femmes à la croissance économique

les pays qui ont le plus fort taux de croissance économique sont ceux où les droits des femmes sont les plus élevés

la BAD a établi la première carte constat sur l’état de l’Egalité de Genre en Afrique

Les participants du Forum ont salué l’engagement actif de la BAD dans sa volonté de réduire les disparités de Genre. Ils se sont félicités de la richesse des débats, et du caractère divers et concret des expériences présentées qui sont extrêmement pertinentes pour élaborer un plan d’action.

Ils ont également salué la stratégie à 10 ans de la BAD dont l’objectif est la transformation du continent à travers une croissance inclusive mettant l’accent sur l’égalité de Genre.

La première édition du Forum sur l’Egalité de Genre s’est terminée sur le souhait de l’ensemble des participants de renouveler cette journée d’échange et, comme l’avait proposé le Vice-Président de la BAD dans son discours d’ouverture, de se retrouver l’an prochain.

Contact Medias:

Mehdi Ben Hama : mehdi.benhamza@ogilvy.com +216 21 261 201

Dimitri Lucas : dimitri.lucas@agencepublics.com +216 50 77 92 46 ou +33 6 88 21 52

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14th Annual FPSO Congress 2013. Driving FPSO Project Profitability through Sustainable Business Models and Technological Advancements

Posted on 07 May 2013 by Africa Business

We have reached a milestone for our 14th FPSO Congress this year. As we look back at the past 13 years, the growth of our event has indeed mirrored that of the FPSO industry, and this year is no exception.

The topics and themes for this year’s Congress have been specifically handpicked by our Advisory Board and aligned to complement the evolving trends in the FPSO market.

With three dedicated streams per day focused on FPSO topside technology, construction and design, turrets and moorings, asset integrity, process safety, FPSO field operations from the North Sea, Asia, Africa and Brazil, and FPSO financing and contracting, the Congress this year reinforces its position as the world’s largest meeting for the FPSO community.

The presence and participation of 15+ C-level officers and senior management from leading vessel owners and oil operators including BW Offshore, MODEC, SBM Offshore, Bumi Armada, Petrofac Production, Petrobras, PNOC, Tullow Oil and more is testament to the quality of this event.

With the Technology Hall this year doubled in size plus a brand new Demonstration Area to include 50+ key industry players such as ABB, Kongsberg, Wartsila and GE Oil and Gas, vendors and solution providers recognise that the FPSO Congress is the definitive platform to expand their business horizons and network with existing and new clients.

What’s New This Year?

1. Meet the Cs– An unprecedented line up of 15+ C-Level speakers and attendees including BW Offshore (CEO & CTO), Bumi Armada (CEO), Maersk FPSOs (COO), Petrofac Production (COO), EMAS Offshore (COO) and more

2. More Oil Operators Speaking– including Petrobras, Apache Energy, Tullow Oil, Premier Oil, Husky CNOOC Madura Limited, NPDC, PNOC and more

Visit Pages 12-13 for further details

3. Dedication and Focus- 3 streams each day focusing on topside construction, FPSO field operations, turrets and mooring systems, financing FPSO projects, topside technologies, asset integrity, process safety and emerging markets

Visit Pages 6-9 for further details

4. Global Stage –Case studies and project spotlights from Asia, the North Sea, West Africa and Brazil

5. Double the Size, Double the Opportunities – We have doubled the size of our Technology Hall and added the FPSO Demonstration Area; Find the right technology and solution at the Congress

Visit Pages 14-15 for further details

Join us this year at the FPSO Congress, 17 – 18 September at MAX Atria @ Singapore Expo, and hear insightful and critical presentations from CEOs, COOs, VPs, and Engineering and Commercial Heads from oil operators, vessel operators, EPCs, subcontractors and financiers. Even better, take this opportunity to network with your counterparts and industry colleagues. This four-day Congress is the industry event that you absolutely cannot afford to miss.

To find out more, please visit our website http://bit.ly/10faic7 or email us at enquiry@iqpc.com.sg

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Le Prix de l’innovation pour l’Afrique annonce les finalistes de l’édition 2013

Posted on 25 April 2013 by Africa Business

 

Des spécialistes de toute l’Afrique développent des solutions orientées vers le marché pour répondre aux enjeux liés à l’assainissement, au paludisme, à l’énergie, et bien d’autres, tout en stimulant la croissance économique sur le continent

À propos du PIA

Le Prix de l’innovation pour l’Afrique (PIA) est une récompense créée par la Fondation africaine pour l’innovation (http://www.africaninnovation.org) et la Commission économique des Nations unies pour l’Afrique (http://www.uneca.org). Il mobilise des innovateurs et des entrepreneurs africains en offrant un total de 150 000 USD aux lauréats qui fournissent des solutions axées sur le marché pour un développement mené par l’Afrique. Le PIA honore et encourage des réalisations innovantes qui contribuent au développement de nouveaux produits, améliorant l’efficacité et générant des économies pour l’Afrique. Le prix encourage également les investisseurs de fonds privés, les dirigeants des gouvernements et les leaders du développement à investir dans tous les secteurs et à créer un climat qui favorise la croissance économique de l’Afrique. Pour tout complément d’information, veuillez consulter le site Internet http://www.InnovationPrizeforAfrica.org. Pour de plus amples informations à l’intention des médias, rendez-vous à l’adresse Internet http://www.AfricanInnovationNews.org.

 

LE CAP, Afrique du Sud, 25 avril 2013/African Press Organization (APO)/ Dix innovateurs africains ont développé des solutions pratiques pour résoudre certains des problèmes les plus insolubles du continent. Sélectionnés parmi plus de 900 candidatures venues de 45 pays, les finalistes du Prix de l’innovation pour l’Afrique (PIA) 2013 (http://www.innovationprizeforafrica.org) représentent des exemples pratiques du potentiel d’investissement de l’Afrique.

Les lauréats du PIA 2013 seront annoncés lors d’un dîner de gala qui se tiendra le 7 mai au Cap, en Afrique du Sud, organisé par la Graduate School of Business de l’Université du Cap et par la Sekunjalo Development Foundation. Le gagnant recevra 100 000 USD pour la meilleure innovation du point de vue de la qualité marchande, de l’originalité, de l’évolutivité, de l’impact social et du potentiel commercial visible. Un second prix de 25 000 USD sera décerné à l’innovation présentant le plus grand potentiel commercial, et un autre finaliste recevra 25 000 USD au titre du prix spécial pour l’innovation sociale.

« Alors que les leaders mondiaux se réunissent à l’occasion du Forum économique mondial sur l’Afrique pour discuter des approches pour respecter les promesses faites à l’Afrique, ces innovateurs montrent que la meilleure manière de renforcer les capacités du continent est d’investir dans l’innovation et l’entrepreneuriat locaux », a déclaré Jean-Claude Bastos de Morais, cofondateur de la Fondation africaine pour l’innovation et du PIA.

De la Tunisie à l’Afrique du Sud, les finalistes du PIA 2013 sont des leaders dans les domaines de l’agriculture, de l’environnement, de la santé, des TIC et de la production. Ils comprennent :

•    Le convertisseur éolien sans pales (Tunisie) – Les innovateurs Hassine Labaied et Anis Aouini de Saphon Energy, une start-up tunisienne de R&D, ont développé une éolienne sans pales qui ne tourne pas – elle utilise une technologie inspirée des voiliers pour créer une énergie rentable par le biais d’un mouvement de va-et-vient en 3D.

•    SavvyLoo (Afrique du Sud) – L’innovateur Dr. Dudley Jackson a développé des toilettes sèches pour les zones rurales et les campements provisoires qui séparent les liquides et les solides pour améliorer l’impact environnemental, réduire les risques de maladie, limiter les odeurs et assurer une meilleure élimination.

•    Le filtre à eau TBag (Afrique du Sud) – L’innovateur Prof. Eugene Cloete a créé un filtre à eau qui utilise un matériel en forme de sachet de thé électrofilé pour assurer que même l’eau la plus polluée soit totalement potable.

•    Le kit de diagnostic pour le paludisme pf/PAN (pLDH) (Afrique du Sud) – L’innovatrice Ashley Uys a créé un nouveau test pour le paludisme qui indique en 30 minutes si un traitement est efficace. Ce kit de diagnostic est un des neuf à avoir été développé dans le monde entier et est le seul test de ce type à être entièrement détenu par une société africaine.

•    La décortiqueuse de fonio (Sénégal) – L’innovateur Sanoussi Diakite a développé une machine électrique et thermique qui décortique 5 kilogrammes de fonio – une céréale d’Afrique occidentale – en seulement 8 minutes.

•    Le système de construction Novatech (Cameroun) – L’innovateur Njokikang Faustinus a créé un processus de construction efficace. Son produit vedette est une presse à briques manuelle qui fabrique en toute facilité 3 000 briques emboîtables par jour.

•    Mobenzi (Afrique du Sud) – L’innovateur Andi Friedman et son équipe ont développé un logiciel qui fournit une solution mobile de collecte de données et d’études de terrain, permettant de déployer des moyens de recherche sophistiqués dans toute l’Afrique par le biais d’Internet ou de téléphones mobiles.

•    La production d’énergie solaire à partir du mimosa (Nigeria) – L’innovateur Justus Nwaoga a développé une nouvelle manière de recueillir l’énergie solaire renouvelable en utilisant la racine de mimosa pudica, une plante médicinale africaine.

•    La ferme modèle d’agroforesterie (Soudan) – L’innovateur Muna Majoud Mahoamed Ahmed a créé une ferme modèle d’agroforesterie à Khartoum qui génère des sources de revenu innovantes à partir des feuilles et des graines de moringa et des graines de jatropha.

•    AgriProtein (Afrique du Sud) – Une équipe de chercheurs innovante d’AgriProtien Technologies a développé une nouvelle source de protéines destinées à l’alimentation animale qui réduit le coût de l’alimentation pour les fermiers et les producteurs africains.

« Nous observons une forte tendance aux innovations qui ont un impact social important en Afrique », a affirmé le Dr François Bonnici, directeur du Centre Bertha pour l’innovation sociale à la Graduate School of Business de l’Université du Cap.

Le prix encourage les Africains à développer des solutions créatives pour relever les défis du quotidien.

Le comité de sélection du PIA est composé d’investisseurs de fonds privés, de bailleurs de fonds, d’investisseurs en capital-risque, d’entrepreneurs et de leaders du développement en quête de nouvelles idées qui font avancer l’Afrique.

L’appel à candidatures pour le PIA 2014 sera annoncé en juillet 2013. Pour de plus amples renseignements sur les catégories du concours, les modalités de participation et les détails de candidature, rendez-vous à l’adresse Internet : InnovationPrizeForAfrica.org (http://www.innovationprizeforafrica.org). Pour des faits marquants et de plus amples renseignements, suivez le PIA sur Twitter (https://twitter.com/#!/IPAprize) et Facebook (https://www.facebook.com/InnovationPrizeforAfrica).

 

SOURCE

Prix de l’innovation pour l’Afrique (PIA)

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New Dates & Agenda the Africa Food Security Conference & Agri Exhibition

Posted on 22 April 2013 by Africa Business

The Africa Food Security Conference & Agri Exhibition is now scheduled to be held in Nairobi Kenya on the 13-15 August 2013 at the Kenyatta International Conference Centre.

To allow comprehensive discussions and business networking, this forum will now be held for three days and will feature:

Main conference – Africa Food Security Conference on the 14-15 August 2013

Livestock Forum – 13 August 2013 09 am – 02pm

Poultry Forum 13 August 2013 12pm – 05pm

Horticulture Forum- 14 August 2013 08am – 02pm August

Why should you consider exhibiting at this event?

Industry experts are now predicting that the continent’s agriculture could triple in economic size in coming years, (topping a trillion dollars by 2030) fuelled by the massive increase in domestic and international demand. This Forum which will be attended key stakeholders in Africa agriculture sector and there is no better forum to showcase your products and strengthen your traction in this market. Opportunities exist in fertilizer supply, silos, farm machinery etc. Participation and sponsorship of the Africa Food Security Conference & Agri Exhibition will denote your company’s leadership in this sector

Food security has become a growing concern for governments and industry leaders and has become a focus of reform for most African states. However, ensuring food security can be a daunting task. There are myriad factors and interrelated parts that, in combination, make food security a complex challenge.

The Exhibition will run alongside the event and will show case latest technologies, products, and other innovative products

A wide range of opportunities are available to corporate and leading institutions to showcase and market their products and services. If your company wishes to sponsor a session and therefore chair the session and organize a panel, please send an email to the ruth@aidembs.com

Bring the Industry Leaders on one Platform- That is what we do

The Aidem Business Solution (ABS), organizes world class forums and conferences for the African market in close partnership with key leading industry players

More details at: http://aidembs.com/africafood-security_conference/

Contact: Hellen Ndirangu

Tel: +254202218114

Mobile: 0700248840

Email: hellen@aidembs.com


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