[ September 16, 2024 by Bethel Anyebe 0 Comments ]

Mayor Eric Adams, African Presidents Set to Participate at the USAfrica Business Week in Boosting U.S. and African Trade

 

New York City, September 6, 2024www.usafricabusinessweek.org

In a significant move to continue enhancing export and import trade relations between the United States and Africa, the USAfrica Business Week is set to return to New York City from Monday, September 16 to Monday, September 23, 2024, in New York City, marking its seventh edition.

 

Over the past six editions, the event has facilitated numerous successful business partnerships, attracted high-profile speakers, and received positive feedback from participants, making it a trusted platform for fostering U.S.-African trade relations. The unique selling points of the event include its focus on African non-oil exports, the diverse range of attendees it attracts, and the high-profile speakers and government representatives who participate.

 

This prestigious event, to be held at the Millenium Hilton, UN Plaza, on the sidelines of UNGA, is more than just a trade event. It also serves as an enabling arena where opportunities are created, deals are made, and different government bodies engage in fostering a thriving U.S.-African bilateral relationship.

 

With this year’s theme, “Bridging Continents, Empowering Trade,” USAfrica Business Week is a multi-day event that celebrates U.S.-African diaspora culture, fashion, and cuisine while unlocking boundless opportunities for enterprises, individuals, small businesses, emerging markets, and start-ups.

 

For the third year, the Honorable Mayor of New York City, Eric Adams, will play host and has been a consistent supporter of initiatives to promote African export into the U.S. market. Last year, Mayor Adams led four leaders of his administration in unveiling the  “New York Open for Business: Trade and Investment Opportunities with Africa. He also gave a proclamation of the USAFRICA BUSINESS WEEK as a regional event in New York for the People of African descent, African Immigrants, and African Diaspora in New York City and those on the continent. 

 

The event is expected to attract a diverse range of attendees, including entrepreneurs, small business owners, professionals, Africans in the Diaspora, people of African descent, government representatives, development and trade partners, MSMEs, investors, off-takers, distributors, agencies, parastatals, political and diplomatic leaders from 54 African countries.

As the only B2B and B2G event during UNGA, it is committed to bringing opportunities in Africa and the U.S. together to help find the right people, funding, and Market for success. 

Four African countries are expected to present during the Doing Business in Africa spotlight sessions, which include Nigeria, Kenya, 

Highlights:

  • Insightful keynote speeches, interactive panel discussions, and engaging conversations with inspirational guest speakers.
  • Networking opportunities with businesses, top executives, diplomats, and like-minded individuals to identify new opportunities
  • High-level engagements and connections at the local, national, and international levels for collaborations and connections

Gbenga Omotayo, the Executive Director of USAfrica Trade and Business Network, highlighted the organization’s proactive approach to addressing the challenges faced by African exporters. “We are committed to providing market access for those looking to source African products and the African diaspora in importing products from verified and reliable businesses in Africa looking to scale and, in turn, prosper through white labelling, building equity in the long run.” Our approach is different; we provide crucial resources such as warehousing, logistics support, and direct engagement with key buyers in the US market,” Omotayo said.

The USAfrica Business Week will feature sessions by relevant government and industry experts, critical business and trade workshops, networking sessions, B2B matchmaking, and access to relevant vendors in the exhibitor hall.

Some partners and exhibitors include Berkeley College, The Bizio, Office of the NYC Mayor, The Nigerian Consulate, Federal Government of Nigeria, Tijani Tech, EXIM Bank, Department of tate, Small Business Development Corporation (SBDC), and more.

For more information, in-person participation, registration, exhibition, and sponsorship, please visit www.usafricabusinessweek.org, email info@usafricabusinessweek.org, or contact +1 (908) 540 6642

 

Further Readings:

USAfrica Business Week Press Release

 

[ January 18, 2023 by Bethel Anyebe 0 Comments ]

Press Release: USAfrica Business Expo returns to Newark, New Jersey, for its 5th Edition in March 2023.

 

 

 

Unlocking New Opportunities: USAfrica Business Expo returns to Newark, New Jersey, for its 5th Edition in March 2023.

NEW YORK, NY January 10, 2023 USAfrica Trade and Business Network is pleased to announce the fifth edition of the USAfrica Business Expo, a hybrid event on the margins of the 67th Session of the United Nations Commission for the Status of Women (UNCSW67) featuring a Pre-orientation tour, Conference, Exhibition, & Participation in select UN events and will hold from Tuesday 7th, March to Friday, March 17, 2023, at the Marriott International Airport Hotel, Newark, New Jersey.

 

The USAfrica Business Expo Week is a B2B Trade Show, Conference & Networking event that will have a line-up of diverse and world-class speakers, relevant Government & Industry Experts in attendance for critical business & trade workshops to kick-start collaboration, relevant networking Sessions that create new opportunities, Display opportunities, and access to relevant resources in the Exhibitor Hall, a Fun, High-Energy & Collaborative Environment, and B2B Matchmaking with a potential investor, Franchisor or Partner.

 

The Expo, under the theme “Advancing International Trade through the Export and Prosper Program for US and African MSMEs,” aims to improve the trade relations between the United States and Africa. It will bring together Government Officials, Diplomats, and Private Sector practitioners from 193 member States attending the UNCSW67 and offers enormous leverage for navigation to International markets and an enabling arena where opportunities are created, deals are made, and where different government bodies engage for thriving business relations and trade cooperation. 

 

We are honored to host this event during the UNCSW67 to provide a platform, especially for women-owned businesses, to connect and engage in meaningful business opportunities. We believe that the Export and Prosper Program will play a vital role in driving economic growth and prosperity for US and African female entrepreneurs,” said Gbenga Omotayo, Executive Director USAfrica Trade and Business Network. 

 

The Export and Prosper Program aims to support U.S. and African MSMES in expanding their international trade by providing access to resources, networks, and support services. The program will focus on helping businesses identify potential customers, suppliers, and partners and provide training and mentoring on export-related topics. “The core of our organization is to help MSMEs harness the Export and Prosper Program at this edition of the USAfrica Business Expo. Our goal is to connect the US and African MSMEs with the resources they need to expand their international trade and drive economic growth and prosperity,” said Gbenga Omotayo, the Executive Director of USAfrica Trade and Business Network.

 

For over six years, The USAfrica Trade and Business Network has hosted multiple events at the UN to connect organizations and enterprises with new buyers, suppliers, and investment opportunities. Many connections made at these events have led to long-term relationships and strategic partnerships. USAfrica Trade and Business Network will ensure the Expo offers an experience of the same unrivaled energy and quality that it has become known for, specifically in networking experience, expo booths, demo presentations, and workshops. 

 

This edition will bring together 100+ small business owners, Investors, CEOs, Entrepreneurs, Top Govt Leaders & Senior Execs, top business executives, Franchisees, Exporters and Manufacturers, and Senior Business, Political, and Diplomatic leaders. 

 

For more information, in-person participation, registration, exhibition, and sponsorship, 

please visit https://www.usafricabusinessexpo.com/, email partner@usafricahub.com, or contact +1 (917) 826 3566

[ January 18, 2023 by Bethel Anyebe 0 Comments ]

Mayor, Eric L. Adams Declares New York Open For Business

New York City Mayor, Eric L. Adams Declares New York Open for Business with Africa at the USAfrica Business Expo During the 77th General Assembly in New York

 

NEW YORK, NY September 16, 2022 — On September 16, the eve of the 77th session of the United Nations General Assembly (UNGA77), Mayor Eric L. Adams – 11th Mayor of New York, delivered the Keynote address on “New York Open for Business: Trade and Investment Opportunities with Africa” at the USAfrica Business Expo — a B2B trade show, conference, award & networking event aimed at helping African businesses expand into international markets and equally connect business owners to resources needed to be successful.

Mayor Eric Adams, New York City International Relations commissioner Mr. Edward Mermelstein, and his deputy, Mr. Dilip Chauhan, unveiled New York City’s plan for economic recovery through NYC – Africa export-import trade and Sister City Agenda. This address was made to a section of Head of Missions, UN Agencies, Captains of Industry, Development & Trade Partners, MSMEs, Investors, and Political & Diplomatic Leaders from across the continent of Africa and the five boroughs of New York. 

“This UNGA UN General Assembly week was so important and significant to me. I couldn’t wait for the opportunity of ensuring that I can reconnect with the African diaspora. Throughout my travels to Sierra Leone, South Africa, Nigeria, Ghana, and all the places that I went to reconnect with my ancestors personally, just to get the spiritual energy, I knew that this opportunity was a significant one,” said Mayor Eric Adams, who has continued to build a prosperous relationship with the African continent. 

Gbenga Omotayo, the Executive Director of USAfrica Trade and Business Network, spoke about the USAfrica Business Week, highlighting that at a UN Event the previous day, they engaged in a discussion on AfCFTA, the African Continental Free Trade Area, which is a market of 1.3 billion of people without any frontiers, no limitations or barriers and this is why the vision of the USAfrica trade and business network is to help the emerging African market by facilitating the trade agreement between Africa and the United States.

Before the administration of Mayor Eric Adams, America had traded with many countries and established significant relationships, but it seemed that Africa had been left off of the conversation. “Africa has been ignored…every other country allows people to leave their country, come to America, use their political strength, economic strength, and know-how to go back to their country and build that country. We have not done that. That day ended on January 1, 2022, when I became the mayor of New York City,” declared Mayor Eric Adams. “Right now, you have the most important city in the most important country, some would say, on the globe. Now you have the mayor, who’s the Mayor of African ancestry, and that door of no return has been opened, and we will return and build back our relationships. We cannot squander or waste the moment, added Mayor Eric Adams.

Mr. Edward Mermelstein, International Affairs Commissioner for New York City, highlighted that this is a very different administration from previous administrations by saying, “we are here to engage the international community, especially with Mayor Adams’ interest with respect to the continent of Africa. We are here to engage with African businesses, and we are here to promote and have NYC and its businesses invest in the continent of Africa” He postulated that if New York were a country, it would be the 11th largest economy in the world.

Mr. Dilip Chauhan, Deputy Commissioner for Trade, Investment, and Innovation for the office of the New York City Mayor’s Office for International Affairs, emphasized that New York is a multicultural city, and to quote Mr. Chauhan, “The mayor and I are proud that New York City is the largest home for the diplomatic community…and now New York City is very much engaged and now open for business…New York City is internationally connecting this business community and helping businesses expand in NYC.” 

Speaking about the Import and Prosper Program of the USAfrica Hub, Gbenga Omotayo underscored that the main aim of the USAfrica Trade and Business Network is to enhance trade and investment in Africa by empowering Africans to break into the international market. He stated that one of the challenges African businesses face is a lack of visibility due to limited market access. “There are no infrastructures, retail chains, global retail brands, and distributor networks. The diaspora is Africa’s secret weapon, and for Africa to thrive, we have to leverage the power of the diaspora. Many African diasporas want to do business on the African continent and have challenges doing this. Hence, the Hub, with the help of its veritable partners, provides this market access for the African diaspora to import products from verified and reliable businesses in Africa looking to scale and, in turn, prosper through white labeling and in turn, build equity in the long run,” said  Gbenga Omotayo, Executive Director of USAfrica Trade and Business Network.

The event, which was held at the United Nations Headquarters from Monday, 12, September to Saturday, September 17, 2022, was themed “Facilitating Export-Import Opportunity for US-Africa MSMEs for Sustainable Development” positions New York City and the State of New York as favorable destinations for Africa’s business & political leaders looking to create new trade partnerships. This edition brought together 100+ small business owners, Investors, CEOs, Entrepreneurs, Top Govt Leaders & Senior Execs, top business executives, Franchisees, Exporters, Manufacturers, Senior Business, Political, and Diplomatic leaders. Also in attendance were New York Elected Officials. 

The USAfrica Business Expo is produced by USAfrica Trade and Business Network, a 501(c)(3) Non-Profit organization that has for over six years worked to promote and strengthen international trade and investment between the U.S and Africa. This is achieved by connecting U.S. and African organizations and businesses with new buyers, suppliers, and investment opportunities. Many of the connections made at this have led to long-term relationships and strategic partnerships.

For more information, to register for the next event, or join the USAfrica Hub, please visit https://www.usafricabusinessexpo.com/ or Email – partner@usafricahub.com.

newsNigeria
[ February 25, 2020 by Gbenga Omotayo 0 Comments ]

FREELANCE VACANCY AT PACETAS AGENCY

TWO OPEN POSITIONS

  • SOCIAL MEDIA AND CONTENT DEVELOPER INTERN
  • DIGITAL MARKETING INTERN

 

SOCIAL MEDIA AND CONTENT DEVELOPER INTERN (FREELANCE)

Pacetas Agency is a full-service advertising, marketing and event production company servicing government agencies, small businesses and global brands looking to target Africa niche markets within and outside of the United States.

We are committed to creating iconic, niche-focused event brands that connect and strengthen African communities in the continent and the diaspora.

Job Description

We are currently looking for a Social Media & Content Developer Intern to join our growing team

The ideal applicant will possess strong knowledge of various social media sites and will be responsible for contributing to designs, monitoring and posting on our social media networks

Responsibilities

  • Monitoring social media trends and implementing strategies to keep up with trends and key to trends.
  • Responsible for day to day activities on all our social media pages especially Facebook, LinkedIn, Twitter and Instagram pages.
  • Designing strategies to promote brand awareness on social media and developing content to ensure high engagements, also maintain timely interaction with users on social media.
  • Posting of daily promotional content for the website blog.
  • Sharing of posts, promotional content and so on to relevant groups on Facebook and LinkedIn.
  • Preparing and submitting weekly reports on social media performance including growth achievements, engagements, conversions.
  • Developing and managing the online brand persona of the business.
  • Monitor analytics with social media team to identify viable ideas
  • Create engaging social media content
  • Assist with streamlining company social media accounts (e.g. Facebook, Instagram, Twitter, and other social media platforms), ensuring uniform content and tone of voice for landing pages, graphics, and other elements within the communities.

Skills/Requirements

  • Excellent Speaking and written communication skills
  • Good Command of English
  • Content Development Skills
  • Must have a solid grasp of all social media networks.
  • Experience with social media analytics, including Google Analytics and Facebook Insights

Benefits and Renumeration

  • Monthly Stipend of N15,000 to cover data, communication etc.
  • Gain connection, exposure and high-class professionalism working with an international organization
  • Access to top notch learning and creative working environment and team
  • Jumpstart your career to a global stage
  • Certificate of Internship
  • Work remotely

Method of Application

Interested and qualified candidates should send their CV and cover letter to nathaniel@usafricahub.com  using the Job Title as the subject of the mail.

 

DIGITAL MARKETING INTERN (FREELANCE)

Pacetas Agency is a full-service advertising, marketing and event production company servicing government agencies, small businesses and global brands looking to target Africa niche markets within and outside of the United States.

We are committed to creating iconic, niche-focused event brands that connect and strengthen African communities in the continent and the diaspora.

Job Description

  • Develop engaging social media posts in line with content marketing strategy
  • Assist in the general distribution of press releases and media alerts
  • Post, monitor and engage on blogs, emails, forum, and social networks
  • Provide social media-based end-user support for clients and staff
  • Create Leads and prospects via the social media channels
  • Support ongoing reporting for social and paid advertising campaigns.
  • Develop customer journey maps and support the team with content mapping
  • Research and evaluate competitor marketing and digital content.
  • Support the marketing team
  • Prepare weekly updates and reports to track growth and success rates of campaigns
  • Assist in the creation of signage, mock-ups, email campaigns, and social media content
  • Seek and analyze competitor marketing material and digital content
  • Create and maintain tracking reports of digital and traditional marketing efforts
  • Develop new social media campaigns, considering current and planned promotional activities.
  • Any other task assigned by the head of the department

Skills/Requirements

  • Excellent Speaking and written communication skills
  • Good Command of English
  • Content Development Skills
  • Must have a solid grasp of all social media networks.
  • Experience with social media analytics, including Google Analytics and Facebook Insights

Benefits and Remuneration

  • Monthly Stipend of N15,000 to cover data, communication, etc.
  • Gain connection, exposure and high-class professionalism working with an international organization
  • Access to top-notch learning and creative working environment and team
  • Jumpstart your career to a global stage
  • Certificate of Internship
  • Work remotely

 

Method of Application

Interested and qualified candidates should send their CV and cover letter to nathaniel@usafricahub.com  using the Job Title as the subject of the mail.

 

Application Ends – February 29th, 2020 

[ August 22, 2019 by Gbenga Omotayo 0 Comments ]

Diplomats & Business Executives to Join Ambassador Arikana at the USAfrica Business Expo during the 74th General Assembly in New York

NEW YORK, NY August 15, 2019—On September 20, the eve of the 74th session of the United Nations General Assembly, Her Excellency Dr. Arikana Chihombori-Quao – African Union Ambassador to the U.S.A., will lead other diplomats, and business leaders to the USAfrica Business Expo — a B2B trade show, conference & networking event aimed at helping African businesses expand into international markets and to equally connect business owners to resources needed to be successful.

“The expo has been created as an effective platform to help increase the exports of developing countries by aiding African businesses, exporters and government agencies maximize initiatives such as AGOA, Prosper Africa and AcfTA, and to help find new international markets for export-ready products.” said Gbenga Omotayo, CEO Pacetas Agency and founder of the USAfrica Business Expo.

Slated to be held at the Millennium Hilton One UN Plaza, this year’s event themed “US-Africa Opportunity for Business & Trade Development” positions New York City and State as favorable destinations for Africa’s business & political leaders looking to create new trade partnerships.

To be marked with targeted B2B matchmaking, keynotes speeches and panel discussions, attending will be small business owners and entrepreneurs, investors and diplomats as well as political figures and government officials who will discuss the latest policy and opportunities.

“Following the successful launch of the African Continental Free Trade Area (AfCFTA), Africa is now the single largest market with over $1.2 billion consumers with no frontiers and offers new markets for the U.S. made products. Similarly, the U.S. serves as an untapped market under the African Growth and Opportunity Act (AGOA) for authentic African products,” concludes Gbenga Omotayo.

Confirmed speakers include:

● HE Dr. Arikana Chihombori-Quao – African Union Ambassador to the U.S.A.
● HE Benaoyagha Okoyen – Consul General, Nigerian Consulate New York
● HE Prof. Samuel Amoako – Consul General, Ghanaian Consulate New York
● Gregg Bishop – Commissioner, NYC Department of Small Business Services
● Dr. Cheryl Hill – Special Advisor on Bilateral Trade & Investment
● Madam Afua Asare – CEO, Ghana Export Promotion Council
● Fred Oladehinde – Chairman, AGOA Civil Society Network
● Gbenga Omotayo – Founder, Pacetas Agency

This event is produced by Pacetas Agency, a New York-based full-service marketing and event firm servicing global brands looking to target Africa niche markets.

To register or exhibit, visit https://USAfricaBusinessExpo.com/ or contact – 1-888-201-0447 or partner@usafricahub.com


AfricaBusinessNigeriaPress Release
[ May 21, 2019 by Gbenga Omotayo 0 Comments ]

Nigerian Garment Manufacturers Would Benefit Greatly from AGOA Textile Visa Stamp – Awolowo

Recently, the Nigerian Export Promotion Council (NEPC) AGOA Trade Resource Centre, Lagos unveiled the AGOA Textile Visa Stamp. The Textile Visa Stamp according to the NEPC would enable garment manufacturers in Nigeria to have tariff concession on textile and garments manufactured in the country for export to the USA under AGOA.

In this interview, CEO of the NEPC, Mr. Olusegun Awolowo in this interview with FRIDAY EKEOBA, explained the Textile Visa Stamp; its importance and benefit for Nigerian garment manufacturers. Awolowo who was represented at the Asian-African Chambers of Commerce and Industry’s inauguration in Lagos recently is of the opinion that the NEPC and the Nigerian Customs Service would synergise to ensure the Textile Visa Stamp is well utilised for the benefit of garment manufacturers to bring more revenue to the Federal Government of Nigeria. Excerpts:

NEPC – AGOA Trade Resource Center recently organised a workshop on utilisation of the AGOA Textile Visa Stamp, can you enlighten the public on this Textile Visa Stamp?
The AGOA Textile Visa Stamp is an instrument established by the US government for use by the AGOA eligible countries for textiles and apparels export into USA. The instrument is to be administered by the Nigerian authorised Customs Officers on the Commercial Invoice of garment manufacturers exporting to the US under AGOA. It is a major requirement for the export of textiles and garment under the scheme and has to be strictly adhered to by Nigerian garment exporters in order to benefit from the tariff concession provided by the Act.

What was the role of the Nigerian Customs at the Workshop?
The esteemed uniformed officers of the Customs were invited to the Workshop because they are the sole administrator of the Visa Stamp. The Stamp is in their custody and they need to be informed on its application and as well as interface with the Nigerian garment manufactures. More importantly, the interface facilitated expression of challenges by garment manufactures in accessing the Visa Stamp from the Customs.

Are the Nigerian Customs officials well trained on this AGOA Textile Visa Stamp’s administration since they are the officials Nigerian exporters would be interacting with at the export desks?
They are now well informed on the Visa Stamp administration so also on AGOA. The Custom Officers were always invited to training programmes on AGOA organised by the NEPC AGOA Trade Resource Center. The garment manufactures now know the locations of Customs officers to access the Visa Stamp.

What would the Nigerian Garment manufacturers benefit from the Visa Stamp?
Nigerian Garment manufacturers have a lot of gains by utilizing the Visa Stamp. Their products – textiles and apparel will enjoy duty-free access to the US market under AGOA. The tariff concession will give made in Nigeria products more competitive advantage over non-AGOA countries that must pay normal tariff rates to enter the United States. They will also be able to retain market share regarding certain apparel products. More jobs related to apparel manufacturing are created through increased production. Trade relationship with US investors and other sub-Saharan AGOA eligible countries counterparts will be built. Through technical assistance provided for garment manufacturers they will be able to comply with US standards as well as international market standards in the garment world.

Nigerians still depend largely on imported garments, especially from Asia. Do you think Nigerian manufacturers can ever meet the garment needs at home?
Indeed, the Nigerian garment markets are saturated with products from Asia but Nigerian garment manufactures through trainings are now informed and have embraced the value chain production systems. They only need to be encouraged and be well funded because, value chain system of mass production is capital intensive and many of the manufacturers are still at the workshop level struggling to meet delivery. If they are well funded for expansion into large factories, backed up with firm-level technical training and government policy support for solely made in Nigeria garments; the Nigerian manufacturers can meet the needs at home because it will be more profitable. Take the case of the use of General System of Mobile (GSM) telephone, it started late in Nigeria, but within a limited period, market women of course now use mobile phones such that Nigeria is now the largest user of mobile telephones in Africa. When there is a will, there will be ways.

What is NEPC’s role in addressing this?
The Council established the Human Capital Development Center (HCDC) in 2006, with modern industrial machines and engaged both local and international garment experts to train and manage the Center for mass production of garments for export under AGOA into the US. In 2016 to be precise, the NEPC engaged five garment experts from The Philippines and four local resource persons to train at the garment factory on how to make garments of international standards within limited time and the value chain system of mass production. Each batch of training at the center was usually for a minimum period of three months on pattern drafting and garment production except for special requested cases. NEPC has consistently offered this service at Zero cost to the trainees and even offered free lunch for students.

The good news is that after graduation, some of the students were retained at the NEPC Factory to perfect their skills and then employed to produce for other fashion designers, a few were gainfully employed by some Nigerian garment factories thus reducing unemployment, others form synergy and established enterprises to mass produce T-shirts for sale and for other industries. Kudos to Vlisco Academy Nigeria, which at one time collaborated with NEPC for training at the HCDC in Lagos. So far from inception, over 850 people have been trained and graduated from the HCDC.

In addition to the above, the NEPC is currently providing technical support for export ready garment companies by bringing into Nigeria and paying for the services of international garment experts from Sri Lanka and Ghana. The technical support started with the Calabar Garment Factory in Cross Rivers State where firm-level training was conducted for over 600 factory hands in December 2018. The garment experts are now at Wessy Creations garment factory in Abeokuta, Ogun State. This is to assist in bringing the companies to the level of mass production in line with international standard practice and for export to the US under AGOA.

With individual efforts, government supports (policy wise and financially) for the existing garment factories, navigation of the numerous garment workshops to factories and establishment of more garment factories, the garment manufacturers can meet the garment needs of Nigerians because we have cheap labour readily available.

Business
[ May 20, 2019 by Gbenga Omotayo 0 Comments ]

Nigerian Investment Promotion Council Stresses on Improved Investment Climate

The Nigerian Investment and Promotion Commission (NIPC), has stressed the need to constantly improve the business environment at the sub-national level to attract more investment into the country.

The Chief Executive Officer of NIPC, Ms Yewande Sadiku, while addressing participants at the Renaissance Capital 10th yearly Pan –Africa Investors Conference, in Lagos, Wednesday, said apart from the improvement recorded at the national level, it is also important to ensure that the business climate in the states become more attractive for investment.

“I encourage governors to compete with each other for proactive investment attention, because Nigeria is competing with the rest of the world. I will rather recommend that the competition for investment attention be between states in Nigeria than between Nigeria and a third party country.”

She reiterated federal government’s commitment to progressively improve overall business environment, noting that since the long-term growth potential remains compelling, the country must remain the investment hub for existing and prospective investors.

She said the NIPC was created to enhance Nigeria’s business climate while soliciting the support of professionals in advocating policy changes that align with investor expectations.

Sadiku said the Commission will support states government in profiling investment opportunities that would attract foreign investors to the state.

She said NIPC is also creating a platform for capacity building, and profiling investment opportunities; starting with a tool that would help in profiling small and medium scale enterprises (SMEs).

Sadiku highlighted foreign investors concerns to include policy stability, power, foreign exchange stability, and insecurity, saying: “… when it concerns going beyond certain parts of Nigeria, many investors draw a line; and there are areas that they are not as present as they should be.”

She added: “There are some concerns in their minds in terms of estimating what their returns are. The bulk of the investors that we deal with are not short-term investors. They take a really long-term view, and what we tell them is that there might be short flips, but in the context of the long-term basics Nigeria’s fundamentals remain strong.”

The Board Chairman, Renaissance Capital, Christophe Charlier, said the key take-away from the conference is that investors focus too strongly on the risks, often missing the chance to turn some of the country’s key challenges into viable prospects.

“Opportunities abound, and Renaissance Capital remains committed to Nigeria and West Africa, which is evidenced by the firm’s growing share of market and deal pipeline.”

[ May 20, 2019 by Gbenga Omotayo 0 Comments ]

Africa Free Trade Agreement Is in Nigeria’s Interest – THE NATION

The National Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA) has called on the federal government to sign the African Continental Free Trade Agreement (AFCTA), saying it will help reposition the country’s competitiveness in the area of locally manufactured goods.

The immediate past President of the Association, Chief Iyalode Alaba Lawson, who disclosed this while speaking to Commerce and Industry Correspondents during the commissioning of Ide John C. Business Centre at NACCIMA headquarters in Lagos, noted that signing the agreement would make the local manufacturers to enhance their capacity utilisation.

She pointed out that it will further put the government on its toes, adding that such trade treaty will lead the country to fixing and improving on the much needed infrastructure required for global competitiveness.

Lawson maintained that when proper trade policies are put in place and judiciously enforced, the country has nothing to be afraid of, stressing that it would only bring out the best from Nigeria.

The outgoing NACCIMA boss, who regretted that unemployment rate is still high, recalled that she launched an empowerment programme ‘Catch them young and teach them how to become an entrepreneur using their talents.’

Pressed further, she said, she partnered with some government agencies like the Federal Institute of Industrial Research, Oshodi (FIIRO), Nigeria Export Promotion Council (NEPC), for capacity building, training, and workshops to harness the talents of the prospective startups.

Specifically, Chief Lawson disclosed that she opened the Youth Entrepreneur Centre in 17 states which has trained and empowered over 50 thousand youth entrepreneurs.

“NACCIMA Export Promotion Group is doing extremely well to improve our Gross Domestic Product (GDP), you need to have very good strong export group that will obey the rules and regulations of each country, so that we can compete favourably all over the world,” she said.

Africa
[ May 8, 2019 by Gbenga Omotayo 0 Comments ]

Africa Just Created a Major Free Trade Bloc

After the west African nation The Gambia ratified the African Continental Free Trade Area (AfCFTA) in April, the twenty-two-nation threshold needed for the trade pact to come into effect has now been reached. This is great news for Africa, because not only will a continent-wide free-trade area boost the region’s economy, but the AfCFTA represents an important ideological shift away from the socialist tendencies that have haunted much of the continent since its independence.

Unfortunately, most African nations fully embraced the socialist economic model when they were freed from their colonial rulers. As the president of the Free Africa Foundation George Ayittey notes, “capitalism was identified with colonialism, and since the latter was evil and exploitative, so too was the former.” Quite simply, socialism “was advocated as the only road to Africa’s prosperity.”

Africa’s socialist experiment started in 1957, when Ghana became the first nation on the continent to be granted their independence. Ghana’s first leader Kwame Nkrumah was a self-proclaimed “Marxian Socialist,” and encouraged other African states to seek independence and pursue the “complete ownership of the economy by the state.”

Many African leaders followed Nkrumah’s socialist example: Modibo Keita of Mali, Sekou Touré of Guinea, and Leopold Senghor of Senegal—just to name a few. These rulers were often dubbed “the main architects of African Socialism.” But in spite of their early socialist influence, today, all four of these countries are opening themselves up to freedom with the AfCFTA.

In 1963, the Organization of African Unity (OAU)—the predecessor to the African Union (AU)—was created largely thanks to Nkrumah and Julius Nyerere, the president of Tanganyika and then-Tanzania. They believed “a united socialist Africa (was) necessary condition for the realization of the African personality.” The market-friendly policies championed by the AU today couldn’t be further opposed to Nkrumah and Nyerere’s socialist intentions for the original OAU.

The AfCFTA, a project of the AU, was introduced in March 2018 by Paul Kagame, the President of Rwanda and (at that time) leader of the AU. Ideologically, Kagame describes himself as an avid free-trader and a disciple of Lee Kuan Yew, the first prime minister of the free-trading nation of Singapore. Kagame’s capitalistic views are not fringe beliefs and, following the trade area’s introduction, forty-four of the fifty-five of the AU nations instantly signed the agreement to show their support. Today, just three countries have yet to sign.
Africa’s turn toward economic liberalization spells good news for the continent because, as Professor Ayittey notes, Africa’s historic love affair with socialism led to nothing but “economic ruin, dictatorship and oppression.”

In solid contrast to socialism’s economic ruin and oppression, the AfCFTA’s implementation will likely push intra-regional trade to skyrocket by 52 percent in just a few years. This figure could then double again once the final 10 percent of tariffs on “sensitive goods” are phased out. This boost in trade will add billions to the continent’s economy.

Another benefit of the AfCFTA lies in uniting many African states under a single market, making it easier for Africa to trade with the rest of the world. If all AU member-states were to ratify the AfCFTA, just one set of trade deals is needed to be negotiated with each external trade partner—rather than fifty-five individual trade agreements for each African nation.
That’s not to say that Africa’s broad turn toward economic liberalization will solve all of the continent’s problems, or that Africa has been completely taken over by free-trading tendencies. So far, only twenty-two AU member-states have ratified the free-trade area, and although more are expected to join in the coming months, there is still a long way to go until the entire continent joins the trade area. Similarly, Nigeria, which has the continent’s largest economy, remains vehemently opposed to the trade deal.

Yet although socialism does continue to show its ugly face across Africa, we can all celebrate the fact that the socialist ideology that plagued the continent for decades is no longer mainstream. The AfCFTA truly has the potential to grow Africa’s economy and lift many out of poverty. When the deal is implemented later this year, it should be seen as a sign that Africa is turning it back on its socialist past and is embracing a new, prosperous, free-trading future. Africans should hope that this trend will continue.
Alexander C. R. Hammond is a Senior Fellow at African Liberty. He is also a researcher at a Washington D.C. think tank and a Young Voices contributor. Hammond writes about economic freedom, African development and global well-being. To keep up with his latest work follow him on Twitter @AlexanderHammo.

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[ April 25, 2019 by Gbenga Omotayo 0 Comments ]

Ghanaian Women Turned Basketweaving into a Million Dollar Industry

Law enforcement personnel remove evidence from the Freund home on Dole Avenue in Crystal Lake, Ill. as the investigation into the case of missing 5-year-old Andrew “AJ” Freund continues on Wednesday, April 24, 2019.

In Bolga, women weave baskets to supplement their income.© CNNIn Bolga, women weave baskets to supplement their income.
Under the scorching afternoon sun of Bolgatanga, a rural community north of Ghana, Patience Apambila is splitting strands of dry grass in preparation for weaving them into baskets.

Apambila is one of 60,000 women in Bolgatanga, Bolga for short, who create handwoven Veta Vera grass baskets, famously known as Bolga Baskets.

One of Ghana’s biggest Bolga basket exporters, Dominic Abakuri says the practice of weaving baskets is a traditional skill as old as the community and has been passed on from generations.

“Once you are born here, you grow up with the skill from childhood, and then, you do it as a kind of extra activity,” he told CNN.

Bolga’s soil is not fertile enough for commercial agricultural activities alone. As a result, handwork like pottery and basket weaving are undertaken by women too.

But weaving Bolga baskets is beyond continuing an age long tradition, it is also about creating jobs.

Exporters and local retailers organize these women all year round and pay them to weave the Bolga baskets based on demand.

A lot of women from the community are poor, so, making and selling baskets serve as an additional source of income for them.

Apambila, for example, can take care of some family needs from the money she makes weaving these baskets. “It helps us to set up our children’s school bills and do a lot of things,” she said.

Boosting the economy

Ghana’s non-traditional export sector, which basket weaving falls under, contributes about 20% to the country’s export trade, says Afua Asabea Asare, CEO of Ghana Export Promotion Authority.

Through Bolga basket exports to key markets such as the UK, US, Australia, and New Zealand, the sector is increasing its sales potential.

Asare added that in 2017, Ghana exported roughly $800,000 worth of baskets to the international market,

“A lot of countries are interested in our baskets. Denmark, and even the Ghanaian markets,” she said.

Abakuri, a Bolga basket exporter, says HomeGoods and HomeSense, both subsidiaries of TJX Companies are some of the big names his company exports to.

Canadian – Ghanaian luxury retailer, Viola Labi, says she grosses $4,000 every month by exporting the baskets to Canada and Zambia.

By 2023, the Ghanaian market hopes to double its exports and international markets for the baskets.

Creating a decent space

The Bolga baskets are undoubtedly booming in and out of Ghana, but weaving them is not without problems.

According to Bolga basket weaver, Apambila, there is no decent place to sit while working. Primary infrastructure like sheds for the weavers to sit in and weave is unavailable. A lot of them stay at home or in different rooms to create the baskets at their leisure time, and this reduces productivity and the ability to meet demand.

“We need a room to sit in whilst weaving. We need a decent meeting place,” Apambila said.

If the women get conducive working spaces, they’ll be much faster at making the baskets and by extension increase in the volume of baskets produced.

Also, given that the raw material used by these women to make the baskets is not grown in Bolgo, transportation is another challenge.

Straws used in weaving are derived from the tropical Veta Vera grass grown in the southern part of Ghana.

Transporting them to the north for weaving, and storing during the harvest season requires investment and money that a lot of exporters and weavers cannot afford.

To combat these issues and further boost the market for Bolgo baskets, Ghanaian authorities are working towards planting the Veta Vera grass in the northern region of the country.

The idea is to help the weavers cut transport costs by bringing their raw material closer to them.

“There’s going to be a pilot run to see how the grass will do. Hopefully, if this does well in the Northern regions, it means we will have the grass readily available to weavers,” Asare told CNN.

Alongside planting grass, the Ghana Export Promotion Authority wants to create spaces and warehouses for weavers.

Electricity, shade, baby nurseries and pretty much anything that will motivate the women to work harder is in consideration, according to Asare.

Upscaling the Bolga basket business is one of the key priorities for Ghana’s non-traditional export market to meet its proposed target of doubling the product exports by 2023.

And the women in Ghana’s north are working towards this goal, one basket at a time.

By Aisha Salaudeen, Rachel Wood and Sandy Thin, CNN