The 2018 AGOA Forum—named for the African Growth and Opportunity Act passed in 2000 and extended three years ago to 2025—could be a turning point in U.S.-African commercial relations. AGOA abolished import duties on more than 1,800 products manufactured in eligible countries sub-Saharan Africa (those with established or making continuous progress with market-based economy, rule of … Continue Reading
Witney Schneidman, Chair of Covington’s Africa Practice, recently participated in a number of media interviews where he discussed various business trends on the continent. Below are links to those interviews. An interview with CGTN that compared the commercial approaches of China and the United States in Africa. LINK CNBC-Africa’s Closing Bell had Witney Schneidman on … Continue Reading
There are ample studies that quantify Africa’s infrastructure deficit in terms of projects and funding. The World Bank estimates $93 billion of annual upkeep investment is needed for projects and Ernst and Young estimates that there are some 800 projects, largely in the power and transportation sectors, that require approximately $700 billion in new investments. … Continue Reading
Given recent developments in the global economy, especially Brexit and the Trump administration’s “America First” policy, it is worth assessing how Africa’s three largest commercial partners—China, the European Union, and the United States—are likely to impact the region in the near future as it relates to trade and investment trends. The China-in-Africa story may be … Continue Reading
In this blog, Covington’s Africa practice highlights ten key issues to watch in Africa in 2018. U.S. Policy: The derogatory remarks that President Trump made about Africans and Haitians, which he denies having said, create a negative image for the U.S. across the region as the year begins. Nevertheless, the administration will push forward on … Continue Reading
In late December, the Trump Administration released the “National Security Strategy of the United States of America.” The nearly 70 page document lays out the foreign policy priorities of the current Administration in both thematic and regional approaches. At the time of its release, the press focused on the strategy’s emphasis on Russia and China, … Continue Reading
The election of Cyril Ramaphosa as president of the African National Congress (ANC), and now the leading contender to become South Africa’s next president, was hailed as a “humbling rebuke” of South Africa’s President Jacob Zuma and a stark rejection of his policies, which have led to anemic economic growth, widespread corruption, and rising frustration in one … Continue Reading
Hurricane Harvey bombarded the Gulf Coast of the United States, leaving more than 250,000 people without power and causing substantial financial, physical, and emotional damage in its wake. Though record-breaking, Harvey was not a singular event. In 2017, severe rain events like Harvey have impacted many communities and businesses around the world. Africa is no … Continue Reading
The global trade environment is rapidly changing and already affecting the U.S.-Africa trade relationship. Indeed, the African Growth and Opportunity Act (AGOA) was not intended to be permanent. The program was designed as a stepping stone to a more mature trade relationship between the U.S. and the continent. AGOA’s expiration date in 2025 may seem … Continue Reading
Next week, some 40 African finance and trade ministers, along with a large contingent of senior U.S. government officials will descend upon the coastal city of Lomé, Togo for the annual African Growth and Opportunity Act (AGOA) Forum. There will be more eyes on this year’s Forum. Aside from Secretary Ross’ brief address at the … Continue Reading
Earlier this month Witney Schneidman appeared on CNBC Africa at the close of the G-20 meetings to discuss Germany’s plan for Africa. In this segment, Mr. Schneidman focuses on increasing foreign direct investment, and the related opportunities and challenges. The full clip can be found here. … Continue Reading
The contours of Trump’s Africa policy are emerging, although key appointments, such as the assistant secretary of state for African affairs, have yet to be made. On February 13, President Trump had telephone conversations with President Muhammadu Buhari of Nigeria and President Jacob Zuma of South Africa—his first with leaders from sub-Saharan Africa. The calls, … Continue Reading
The end of the 22-year reign of former Gambian President Yahya Jammeh, ushered in by the December election of opposition candidate Adama Barrow, is widely seen as a win for democracy in Africa. More so than anything else, this is a win for the Economic Community of West African States (“ECOWAS”) and regional self-policing in … Continue Reading
Nana Akufo-Addo, the 72-year-old leader of the New Patriotic Party (NPP), was elected Ghana’s president on December 9 by a margin of 1 million votes, affirming the country’s status as a leading democracy on the continent. The peaceful election supports former assistant secretary of state for African affairs and election observer Ambassador Johnnie Carson’s recent … Continue Reading
For Africa, at stake in this election of Donald Trump is the strong bipartisan consensus in Congress that has been the cornerstone of U.S. policy toward the continent for the last three administrations. This consensus, supported by Presidents Clinton, Bush, and Obama, was predicated on the notion that Africa has opportunities worth U.S. attention and … Continue Reading
According to the 2016 Global Slavery Index, an estimated 45.8 million men, women and children around the world are ensnared in some form of modern slavery, which includes slavery, servitude, forced labor and human trafficking. Sub-Saharan Africa is particularly vulnerable to this scourge: Estimates of modern slavery in Sub-Saharan Africa accounted for approximately 14 percent … Continue Reading
On May 25th, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made the long-awaited announcement that the country would no longer peg the naira at N197 to the dollar. This change went into effect on Monday, which was the first time in recent history that the naira’s value was determined by market … Continue Reading
Solar energy is a very good and important investment in sub-Saharan Africa. The energy is cheap, clean and relatively easy to install. It is also very beneficial to consumers. As Andy Herscowitz, the coordinator for Power Africa notes, individuals do not have to rely on an electricity grid that can be unreliable, and once they … Continue Reading
Is Africa becoming a strategic priority for Japan? The Sixth Tokyo International Conference on African Development (TICAD VI), held in Nairobi, Kenya August 27-28, suggests that Japan is looking at Africa differently than in the past. For one, the five previous TICADs have been held in Japan; this is the first to be convened on … Continue Reading
This past June, the Senate Foreign Relations Subcommittee on Africa and Global Health Policy held a hearing to discuss U.S. sanctions in Sub-Saharan Africa. The United States, the European Union, and the United Nations impose far more sanctions on Sub-Saharan African targets than on any other region, and these sanction regimes have been changing over … Continue Reading
In 2015, African Union (AU) Commissioner for Political Affairs, Dr. Aisha Abdullahi, indicated that a plan was underway to implement a single African passport. After recent announcements that the AU passport would be unveiled at the AU Summit in Kigali this month, the long-awaited continental e-passport has finally been revealed. The first recipients of the … Continue Reading
In 2010, Africa’s leaders gathered at the African Union in Addis Ababa to celebrate 50 years of independence. In Washington, President Barack Obama marked the occasion by hosting a town hall meeting of young African leaders from nearly 50 countries. What looked at the time to be a curious way to mark a significant moment … Continue Reading
On May 25th, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made the long-awaited announcement that the country would no longer peg the naira at N197 to the dollar. This change went into effect on Monday, which was the first time in recent history that the naira’s value was determined by market … Continue Reading
Ten months ago, on August 26, 2015, Zimbabwe’s 92-year old leader, Robert Mugabe announced a 10-point plan to revitalize economic growth. Since then, the government has taken steps that signal the intention to transform a moribund economy. But the question is whether a Mugabe-led government can be successful in restoring growth and confidence in a … Continue Reading
