RENEW Strategies

In the News... The Africa Beats

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Biruk Abayneh
| June 14, 2013

Impact Investing
Raising the Profile and Opportunity in Africa
Rockefeller Foundation - "Although Africa is often the destination of impact investing capital, the continent has rarely been the genesis of the conversation. In the past two months, however, impact investing in Africa has been the topic of convenings bringing together investors, thought leaders, philanthropists and impact entrepreneurs from across the continent. Impact investing might seem to an obvious topic of common interest amongst the investor community in Africa, given the massive unemployment challenge and growing social inequities despite what is an incredibly positive growth picture."
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Invest in Ethiopia
Chinese Investment Creates a New Global Hub in Ethiopia
The Africa Report - "Huajian Group and other investors are creating a shoe manufacturing cluster that is set to employ more than 100,000 Ethiopians over the next 10 years."
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Brazil to Boost Investments in Ethiopia
Reuters - "Brazil signed cooperative agreements with Ethiopia on Friday and Brazilian companies are looking to expand investments in the fast-growing Horn of Africa country, an Ethiopian minister said. 'There is a desire on the part of Brazilian companies to involve themselves here and the government along with us is ready to inform Brazilian enterprises to engage in Ethiopia as there is a huge opportunity here,' Gebrekristos told journalists in Addis Ababa on the sidelines of an African Union summit."
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Ethiopia, Japan Hold Investment Forum
Bikya News - "Following the successful conclusion of the TICAD V summit, the Ethio-Japan Investment forum was held on Monday in Tokyo, at the headquarters of the Japan External Trade Office (JETRO). Minister of Foreign Affairs Dr. Tedros Adhanom, in his address, noted that Japan is a strategic partner of Ethiopia. He added that the two countries are enjoying a successful partnership. However, he pointed out that the trade and investment relation between the two countries leaves much to be desired and invited Japanese investors to take part in Ethiopia’s dynamic growth."
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Invest in Africa
Africa’s Emerging Middle Class Drives Growth and Democracy
Reuters - "After years of headlines about Africa's poverty, its emerging middle class is now grabbing attention as a driver of growth and democracy and an expanding pool of consumers for market-hungry retailers. Consumer demand is a motor of Africa's economic and investment surge, and analysts see middle class buyers with swelling disposable income as fuelling this boom from South Africa to Nigeria and Kenya. 'It's probably the fastest growing consumer class in the world, as a region,' said Michael Lalor, director of Ernst & Young's Africa Business Center in Johannesburg."
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Google Makes First Renewable Investment in Africa
EcoSeed - "Internet giant Google has made its first ever renewable energy investment in Africa. Located in the Northern Cape province of South Africa, the $12 million Jasper Power Project has 96 megawatts of solar photovoltaic capacity. The P.V. plant will be of the largest installations in the continent when completed, providing clean electricity to approximately 30,000 South African homes. 'We believe this investment not only makes financial sense, but also has potential to help grow the renewable energy industry and move the world closer to a clean energy future,' said Google, which has committed over $1 billion to renewable energy investments."
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Japan to Invest Billions in Africa
All Africa - "Japan will provide $1 billion in aid over the next five years to northern Africa for economic development and humanitarian efforts, including help with security and counter-terrorism measures. Japanese Prime Minister Shinzo Abe announced the assistance Sunday, on the second day of the three-day Tokyo International Conference on African Development, being held in Yokohama, south of the capital city. Abe says the investment of public and private funds over the next five years is aimed at helping growth on the continent and encouraging Japanese companies to invest there."
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Job, Wealth Creation will Liberate Africa
CapitalFM - "President Uhuru Kenyatta has called on African countries to invest enormous resources towards wealth and job creation. He said this will stimulate greater African social-economic integration and achieve the African aspiration for renewal and renaissance. President Kenyatta observed that to attain this great dream, African states must also avail the requisite resources to the African Union Commission to enable it implement programmes that promote peace and advance development of the continent."
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United Nations Calls for Peace in Africa to Promote Trade and Investments
Standard Digital News - "United Nations is calling on African Countries to promote peace to attract investments and grow its trade with other continents. Speaking on Sunday during a meeting to address issues relating to Private Sector,Trade and Investment as Engines of Development in the ongoing Tokyo International Conference on African Development (TICAD) in Japan, UN attributed the low foreign investments in the continent to unstable peace which scares potential investors. 'There is need for governments, players in the private sector and civil society organisations to enhance peace so as to create a conducive environment for economic development,' said Ban Ki-Moon, the UN Secretary General said. 'Exports from sub Saharan Africa to Europe, Asia and the West is still very minimal in the world and there is need for paradigm shift so as to integrate Africa in the world economies,' he said."
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