In 2012, the United Nations banned wood charcoal imports from Somalia. Almost no-one took notice of the United Nations’ stand against terrorism in the horn of Africa: al-Shabab, the militant organization responsible for the horrifying attack on Garissa University in Kenya this April among other atrocities, funds the majority of its activities through the sale of wood charcoal.
Al-Shabab receives an estimated $50 million per year from charcoal exported through Somalia’s major ports.
During Japanese Prime Minister Shinzo Abe’s last visit to Africa, he emphasized, in a press conference in Ethiopia, that Japan’s focus in the continent are “young people,” who will shoulder the responsibility for the future of Africa, and women, who will give life to the continent’s future generations. Japan presents its policies regarding Africa as altruistic and humanitarian but some critics say it is driven very much by Realpolitik. In the past century, Japan’s activities in Africa have ranged from mostly business relationships to what Japan’s Ministry of Foreign Affairs calls an aid-based diplomacy. What are we seeing now and what are Japan’s true intentions going forward?
Trade relations between Africa and Japan started developing significantly during World War I, with Egypt and South Africa being the main trade partners. Between the World Wars, substantial trade relationships developed between Japan and Uganda, as well as Egypt, both of which supplied cotton for the Japanese textile industry with Japan supplying manufactured goods.
Igho Sonami is one of Africa’s most socially and economically influential people today whose success is seen on an international scale. Having transformed the dynamic of the oil and power world, he has become a major success in his own right, and continues to diversify the landscape of the oil and power industries, while playing an integral role in the social and economic development of Western Africa.
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In light of the downing of a Moroccan F-16 jet in Yemen, the question “Why is Morocco intervening in the Yemen crisis?” must be asked. The Foreign Ministry has abandoned its legendary discretion and The Royal Air Force – along with a Saudi Arabia led coalition- is engaging in Yemen against Houthi Shiite rebels. Why does Morocco have an interest in this? Here are some explanations.
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In mid- January 2015, many real-estate developers and financial experts were worried: with Dubai World’s debt-restructuring talks looming overhead, a stock market meltdown and subsequently devastating property crash seemed almost inevitable. (more…)
The increasing number and capitalization of Chinese investment funds in Africa causes both opportunities and losses for African countries.
According to the latest China-Africa Economic and Trade Cooperation White Paper published in 2013, cumulative Chinese OFDI (outward foreign direct investment, showing the total accumulated value of assets) to Africa amounts to US$21 billion (by official figures). Statistics published by Chinese Ministry of Commerce show that Chinese yearly OFDI flows to Africa increased sharply from $317 mn in 2004 up to $2.52 bn in 2012. Chinese premier minister Li Reqtang, while his official visit to Africa in 2014, predicted that Chinese OFDI to Africa will reach $100 bn by 2020. (more…)
