US Africa Trade Magazine

INVESTMENT: “ MARSHAL PLAN” FOR LIBERIA, GUINEA, AND SIERRA LEONE

FREE ISSUE | VOL 1. ISSUE 2. | NOVEMBER/DECEMBER 2014

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U.S PRODUCTS EXPORT TO AFRICA

54

WORLD TRADE East Africa South America: Mexico, South Africa sign a new trade agreement LOGISTICS Bollore Group bid on Cameroon sea ports Infrastructures AIRLINES BIZ Air Ethiopia: The rise of a giant in Africa TRAVEL The face of Luanda, Angola capital

This industry would be the game changer, as U.S struggles to be Africa first trade partner.

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PRODUCTION TEAM Managing Director Editor in Chief Finance and Operations Marketing and Distribution Advertising Operations:

Giscard Ayissi Helena Hart James walker Laure Same Lawrence Nkede

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Ferdinand Zoa

Adviser

Susan Senger

Writers-Reporters

James Walker Lawrence Nkede Kart Johnson Orlando Walker Messina Nadege

Africa chief Bureau South America correspondent Middle East Correspondent Correspondent Europe Designer

Michel Ngono Adeline Bertrand Gerald Nathalie Christian Labourge Mo Shine

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Additional

U.S. AFRICA TRADE NEWS COMING SOON ON

www.usafricatrade.org Interviews, New features, Business Trends

CONTENTS

WORLD TRADE Asia: Manufacturing China outsourcing JOBS to Africa ­............................. 4 South America: Mexico, South Africa sign a new trade agreement............................. 4

TRADE NUMBERS Trade Number.................................................. 5

THEY SAID They Said........................................................ 5

US-AFRICA DIPLOMACY South Africa- free app for antenatal information....................................................... 6

REGULATION How to bring or send items made from wood to the U.S.............................................. 7

ORGANIZATION World customs organization............................. 7

FOCUS U.S. top Ten Export Product to Africa: This industry will be the game changer, as U.S struggle to be Africa first partner. .................... 8

LOGISTICS Bollore Africa Logistics wants to decongest Doula seaport................................................ 10

AFRIK AIRLINES BIZ Air Ethiopia: The rise of giant in Africa sky...... 11

INVESTMENT “ Marshall plan “for Guinea, Liberia, and Sierra Leone?......................................... 12 The impact of Egypt trade deficit with the U.S................................................... 13

INITIATIVE African Development Center of Minnesota: A “shelter” for Africans Immigrants................. 14

CURRENCY SNAPSHOT African Currencies Versus U.S....................... 15

TRAVEL/TOURISM: The price of good life in Luanda..................... 16

TRADE AGENDA/ANNOUNCEMENT Trade Agenda/Announcement....................... 18

U.S AFRICA TRADE

November/December

2014

3

WORLD TRADE AND AFRICA

Manufacturing China outsourcing JOBS to Africa

BY GERALD NATHALIE

T

he cost of labor in China is going up, so Chinese manufacturers are moving to Africa, and they’re playing all the angles. With rising labor and energy costs, as well as tightening environmental restrictions, it is becoming increasing difficult for Chinese industrialists to get cheap goods at a massive scale in their own country like it was few years ago. Even as fresh university graduates suffer a high

A S I A

unemployment rate; few want to take jobs on factory floors. Africa is then becoming a new frontier for Chinese companies—cheap,

South Africa, Mexico sign a new trade agreement

S O U T H

trainable, abundant, and ready to work. Some Chinese businesses are confident that with time and proper training, they will be able to be efficient and productive workers.

To adapt to this new environment, Chinese government invested massively on the African infrastructures, and executed massive infrastructure projects like a railway connecting Tanzania and Zambia.

A M E R I C A

BY ADELINE BERTRAND

S

outh Africa is a priority partner in the strate g y of M e x ico’s a pproac h to A f r ic a .

Diplomatic relations were established on October 26, 1993 and are characterized by a high-level political dialogue and mutual recognition of their influence, and power in their respective regions. Relations between South Africa and Mexico date back to

4

1993. On Friday, October 17th, 2014, both countries committed to working together to uplift their respective economies. South Africa is the second largest trading partner of Mexico in Africa after Nigeria. The first two months of 2010, bilateral trade totaled 64.5 million, an increase of 4.3% over the same period last year. The trade balance showed a deficit for Mexico of

U.S AFRICA TRADE

31.9 million. By March 2009, Mexican investment in South Africa was 1.9 million: tourism (1.5 million) and food (0.4) million. The Trade Agreement signed in October 17th, 2014, between the two countries will see further development in the field of trade, agriculture tourism, mining, manufacturing and job creation. International Affairs Minister, Maite Nkoana-Mashabane, says the signing of the agreements is line with the New Growth Path priorities as supported by the National Development Plan.

November/December

2014

TALK NUMBERS

$1.4

850

Trillion

Million

The number on new mobile phone subscribers by 2020. African mobile market is to grow at an annual rate of 21.27% from 2014 to 2020.

& Co)

The World Bank Group previously announced that it was mobilizing US $230 million for the three countries hardest hit by the crisis—Guinea, Liberia, and Sierra Leone—including a US$117 million emergency response.

( US based research firm Manifest Mind LLC)

$2.6 Trillion

Africa’s consumer spending by 2020 from about $860 billion in 2008.

The number of middle-income consumers—those who can spend for more than just the necessities—in Africa has exceeded the figure for India. (Consultancy McKinsey

Africa‘s collective DGP by 2020. 313 million: the number of Africa’s middle class by 2014. 40 percent of Africans live in urban areas, a portion close to China’s and continuing to expand. (Consultancy McKinsey & Co)

THEY SAID

President Obama “We welcome competition from other nations who have been aggressive in pursuing commercial opportunities in Africa, including China. Our only advice is to make sure it’s a good deal for Africa.”

Joe Biden “It’s never been a good bet to bet against America, and America is betting on Africa.”

U.S AFRICA TRADE

Xi Jinxing “China, as a developing country, still puts its ties with developing countries in Africa among the priorities of its foreign policies.”

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2014

Bill Gates “The real fuel for development will be the resources of African nations themselves – whether that’s in the form of government funding, private-sector investment, or just plain human creativity at all levels of society.”

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US-AFRICA DIPLOMACY

South Africa: A Free App For Antenatal Information Two months after its launching, the US-sponsored MomConnect app is booster for South Africa health system.

In April, South Africa’s Human Sciences Research Council found that the prevalence of HIV and Aids in South Africa was rising, partly because the country has the world’s fastest growth rate in new infections and partly because patients were surviving longer, due to an expanded antiretroviral treatment program.

BY JAMES WALKER

T Ambassador Patrick Gaspard Photo: U.S embassy in S.A

he U.S. Government, through the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) program has invested $4.9 million (R49million) towards MomConnect, a program aimed at preventing maternal mortality through the use of mobile phone technology.

Data released by South African ministry of health reveal that in the last 3 years, 50% of women have been killed by HIV Launching this project two months ago, in north of Pretoria on Thursday August 21, 2014, U.S. Ambassador to South Africa, Patrick Gaspard expresses his satisfaction to see that the use of this app will prevent HIV and improve health outcomes for women and children U.S government is invested $4.9million towards MomConnect.

With MomConnect, the South African Government expects to save more lives by following women in their communities via mobile phone text messages instead of waiting for mothers to return to clinics for health care services. MomConnect will permit all pregnant women in the public health system to be registered to receive standardized health promotion messages, reminders on their check-up updates, and reminders on taking medication.

Patrick Gaspard: U.S ambassador to South Africa, since August 26, 2013 Stats: 12.2% of South Africa’s population was infected with the HIV virus in 2012, compared with 10.6% in 2008 (South Africa’s Human Sciences Research Council) South Africa population in 2014 -53,139,528 (World population Review)

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U.S AFRICA TRADE

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REGULATION

How To Bring Or Send Items Made From Wood To The U.S.

F

inished, manufactured, or natur ally weather ed products i nclu di ng carvings, driftwood, furniture, picture frames, and musical instruments, and plywood are allowed into the U.S, but should be declared so that the items can be inspected by Customs Border Protection (CBP).

Wood that has bark attached is prohibited from China and is subject to a higher level of inspection from all countries.

Objects that have feathers are allowed if the objects are fully finished and the feathers are clean, dry, and free of skin. Bones that are

fully finished and ready to be used such as buttons, knife handles, and souvenirs are allowed as are tanned hides of domestic. It is important to note that all items made from wood, feathers, or bone may also be subject to endangered species regulations. The regulations on export and import of items made from wood are under on Cites and USDA. Source cbp.gov

ORGANIZATION

World Customs Organization

F

ormerly called Customs Co-operation Council (CCC), the World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. Created in January 26, 1952 , with 180 customs administrations members, WCO work areas are: Development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade

U.S AFRICA TRADE

facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR) are WCO work areas.

The organization also promotes and delivers sustainable capacity building to assist with customs reforms and modernization.

The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.

November/December

2014

7

FOCUS

U.S Top Ten Export Product To Africa THIS INDUSTRY WILL BE THE GAME CHANGER, AS U.S STRUGGLES TO BE AFRICA FIRST PARTNER.

US Trade’s Office of African Affairs develops and coordinates U.S. trade and investment policy for the 49 countries of sub-Saharan Africa. It leads the negotiation and implementation of U.S. trade and investment policies and objectives in the region. The Administration seeks both to expand markets for U.S. goods and services in sub-Saharan Africa and to facilitate efforts to bolster African economic development through increased global, regional, and bilateral trade.

BY GISCARD AYISSI

S

ub-Sahar an Africa presents many opportu nities for U. S . businesses as an emerging market for American exports.

For the International Monetary fund (IMF), in 2012, eight of the twenty fastest growing economies in the world were in sub-Saharan Africa.

U.S.-Sub-Saharan Africa Trade Data reveals that the total US two-way goods today with sub-Saharan Africa was $63 billion in 2013. Goods exports totaled $24 billion; Goods imports totaled $39 billion.

U.S. goods exports to sub-Saharan Africa in 2013

8

Photo: U.S Pavilion. Kallman.com

THE TOP 10 EXPORT CATEGORIES IN 2013 WERE • • • • •

Machinery ($4.9 billion), Vehicles ($3.6 billion), Mineral Fuel (oil) ($3.5 billion), Aircraft ($1.3 billion), Cereals (wheat and rice) ($1.3 billion).

U.S. exports of agricultural products to subSaharan Africa totaled $2.6 billion in 2013.

U.S AFRICA TRADE

November/December

• • • • •

Leading categories include: wheat ($1.1 billion), poultry meat ($513 million), rice ($94 million), vegetable oils (excluding soybean oil) ($95 million), • and coarse grains ($89 million) and weapons

2014

Photo: U.S Pavilion. Kallman.com

Photo: China North Industries Corp. (Norinco)

were $24 billion, up 6.9% ($1.5 billion) from 2012, and up 250% from 2003. U.S. goods exports to sub-Saharan Africa accounted for 1.5% of total U.S. goods exports in 2013. Roughly 30% of U.S. exports to sub-Saharan Africa went to South Africa in 2013. The top U.S. export markets in sub-Saharan Africa for 2013 were: South Africa ($7.3 billion), Nigeria ($6.5 billion), Angola ($1.5 billion), Ghana ($1.1billion), and Togo ($956 million).

WEAPONS INDUSTRY If there no major change in U.S export of good in categories such as cereals, wheat, poultry meat, vegetable oil wheat, rice, coarse grains, machinery, and renewable energy, there is an adjustment in defense industry. U.S competitors such as China, Russia, and Brazil are rushing in the continent to supply Africa states; a monopoly that the U.S held for many decades. At the Africa Aerospace and Defense (AAD) show, held in Pretoria from 17-21 September, 2014, where 70 foreign military delegations from 50 countries attended, together with 13 national pavilions and 300 companies, China’s Norinco present several prototypes of weapons, such as an improved version of its Sky Dragon 50 medium-range air defense system. It also unveiled the original Sky Dragon surface-to-air missile (SAM) system with the mobile IBIS-150 (or IBIS150) radar supporting the launcher vehicles, which each had four missiles carried by two vehicles.

China’s Poly Technologies also displayed a new ‘low-collateral’ version of its DZJ08 disposable 80 mm rocket launcher. For Russia, Africa Aerospace and Defense (AAD) 2014 show was an occasion to attract Africans buyers.

Rosoboron export has the training and combat Iak-130 aircraft, the military transport aircraft Il-76MD-90A, the military transport helicopter Mi-35M combat, armored BMP-3 and BTR-80A,

U.S AFRICA TRADE

the Kornet-E anti-tank rockets / EM and special infantry weapons.

According to CAI, Consultancy Africa Intelligence, in May 2014, the military spending as percentage of GDP grew reach 9.4% in 2014 from 0.2% decades ago. The same source reveals that Chinese arms, in Africa is believed to account for 11% of Chinese exports of major arms from 2006–2010, and the continent accounted for an estimated 14% of Russia’s arms exports from 2009–2013.

In the weapons industry in Africa, Israel is also a key player, even though the sales has dropped in 2013, the Times Of Jerusalem revealed that Israel sold $223 million worth of arms to African countries in 2013, compared to $107 million in 2012 and $127 million in 2011.

A 2007 report by the non-governmental organization Oxfam International, conservatively estimated that armed conflict cost in Africa is US$ 18 billion a year. U.S continues to maintain the grip on this industry in Africa but its competitors such as China and Russia are catching up. China gains ground as arms supplier, but US stays on top. But some experts remain very skeptical on U.S ability to maintain this position in the next 10 years.

November/December

2014

9

LOGISTICS

Bollore Africa Logistics Wants To Decongest Douala Seaports

BY MICHEL LEANDRIN

T

h e congest ion created by the high n u m ber of abandoned containers by importers over 90 days at the terminal of Douala seaport remains a concern for Cameroon customs authorities.

Occupancy of export and import of parks rates are respectively about 67% and 89% in 2004 against 147% in May 2014.

To accelerate the economic performance of the country, it will be substantially necessary important to improve the performance of its container terminal, key element for economic development of Cameroon. By doing so, it will speed up the delivery by

10

La Douala international terminal (DIT.) is stateowned Enterprise but with 40% Bolloré Group stake, 40% Maersk, 15% Cameroon 5% private sector.

trucks and ships. Douala port continues to play in the socioeconomic development of Cameroon, Chad and RCA. Decongesting Douala port, one of largest port in Cameroon being an imperative, Bolloré Logistics Africa, a French company, has invested over $8 million.

The Douala International Terminal (DIT.), an entity of the Bolloré group, in September, 2014, put into service four new cranes to strengthen the competitiveness of the port hub during the decongestive

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2014

phase. With an average capacity of 120 container moves per hour, the 4 yard gantries that cost over $8 million have been operational since August 2014.

AFRIK AIRLINES BIZ

Air Ethiopia, The Rise Of Giant In Africa’s Sky Air Ethiopia, the largest airline in Africa, was announcing on 26 June 2014 the delivery of its 8th Dreamliner Boeing 787.

BY MARRY ISABELLA

A

ir Ethiopia was the first in the world outside Japan to receive the Boeing 787 in August 2012. The airline took delivery of further two Boeing 787s in 2014. Currently, Ethiopian Airlines is the largest operator of the Boeing 787 in Africa, serving routes to Africa, Brazil, Europe, the U.S, Canada and China with the aircraft. Air Ethiopia’s Boeing 787 offers passengers unparalleled on-board comfort with greatly reduced noise, higher ceilings, biggest windows in the sky, and higher humidity and unique lighting.

The aircraft also enables the airline to fulfill its green corporate social responsibility with greatly reduced carbon footprint. Ethiopian Airlines (Ethiopian) is the fastest growing Airline market in Africa. In its operations, in the past close to seven decades, the Airline has become one of the continent leading carriers.

Ethiopian shares of the pan-African passenger and cargo network operating the youngest and most modern fleet to more than 82 international destinations across five continents. In fact, Ethiopian is the first airline in Africa to own and operate these aircraft.

It is currently implementing a 15-year strategic plan called Vision 2025 that will see it become the leading aviation group in Africa with seven business centers: Ethiopian Domestic and Regional Airline; Ethiopian International Passenger Airline; Ethiopian Cargo; Ethiopian MRO; Ethiopian Aviation Academy; Ethiopian In-flight Catering Services; and Ethiopian Ground Service.

To understand the company success story, aviation experts believe it all tied to managerial team and their willing to succeed in a challenging environment where European and Asian Airlines are eager to share the

Founded 21 December 1945; 68 years ago and commenced operations 8 April 1946. Member of Star Alliance Number of Fleet size: 71 Destinations: 101 (Passenger) and 23 (Cargo) Parent company: Ethiopian Government (100%) Headquarters: Bole International Airport, Addis Ababa, Ethiopia

“ In its operations, in the past close to seven decades, the Airline has become one of the continent leading carriers.” pie. Also, the company policy to engage in a very good international marketing paid off. Africa presents tremendous opportunity with its growing middle class.

For the International Lease Finance Corporation (ILFC), the continent presents a real opportunity for the aviation industry to expand. With a fierce competition in Africa, with other major key players in the airline industry such Kenya Airways, South Africa, Morocco Airlines, and other European Airlines, the fight for the control of Africa Sky is just beginning.

U.S AFRICA TRADE

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2014

11

INVESTMENT

MARSHALL PLAN “FOR GUINEA, LIBERIA, AND SIERRA LEONE? Hit hard by the Ebola outbreak, low consumer and investors confident, the three countries from West Africa, might need a bail out to jump start their respective economy

BY GISCARD AYISSI

G

uinea’s economic growth could be r educed by 2 .3 percentage points next year while Sierra Leona’s growth would cut by 8.9 percentage points. Liberia would be hardesthit, with a reduction of 11.7 percentage according to the World Bank, that later at the end of October, warns of financial ‘catastrophe’ for Ebola-hit Africa.

(ACN), American International Group (AIG), Chevron (CVX), Cisco Systems (CSCO), Citigroup (C), Morgan Stanley (MS) and Starwood Hotels (HOT),would also affected even though their business size in West Africa is not considerable.

BAIL OUT? The largest-ever outbreak of Ebola could drain billions of dollars from economies in West Africa by the end of 2015 if the epidemic is not contained, the World Bank said last month. From the same source, Cost of Ebola could top $32 billion. Now, the World Bank estimates the outbreak will cost Sierra Leone $163 million, or

INVESTORS’ RELUCTANCE ExxonMobil CEO Rex Tillerson said at a press conference in October 2014 in Houston that the company is having second thoughts about plans to start offshore drilling in some areas in West Africa due to concerns of Ebola outbreak.

ExxonMobil’s first exploration well offshore Liberia, and their projections were long-term projections. Some U. S Companies such as S&P Capital IQ, they are Accenture

12

Conakry, guinea capital city

Population of Liberia: total population of 4.4 million people Population of Guinea: total a population of 10.5 million Population of Sierra Leone: Population, 6.092 million, 2013 (World Population Review)

U.S AFRICA TRADE

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2014

3.3% of its GDP this year. If the epidemic continues to spread, the World Bank estimates it could lose as much as 8.9% of its GDP in 2015. For Liberia, the worst case estimates of cost are $234 million, or 12% of GDP. Ebola outbreak would cost Guinea $142 million, or 2.3% of GDP. The post Ebola will be painful for some financial experts.

The consequences of Ebola on these 3 countries will be significant and comparable to war IMF intervention will be needed next year when the virus will be contained. A massive injection of fund will be critical for Liberia, Sierra Leone, and Guinea, three struggling economy before the outbreak.

A Marshall plan, a program by which the United States gave large amounts of economic aid to European countries to help them rebuild after the devastation of World War II, will be an alternative, for these countries, in a time, when global economy are interrelated.

The Impact Of Egypt Trade Deficit With The U.S

Photo: Cairo,Egypt

BY MICHEL LEANDRIN

E

gypt’s trade deficit w it h t h e Un it ed States grew in 2013, according to an August report by state statistics agency CAPMAS. Although Egypt’s exports to countries around the globe increased by 5.9 percent overall, its exports to the United States fell by 37.6

percent to LE 8.1 billion. Egypt

figures, the value of exports from

oil, plastics and animal fats. Egypt’s

imported LE 35.8 billion worth

Egypt reached LE 18.57 billion in

has set a target of 20% power from

of American goods.

May, up 7.6 percent from the same

wind, hydro, and solar by 2020, and the Suez Canal Regional. The government’s $18 billion strategic energy plan and $2.2 billion investment in efficient energy projects provide excellent opportunities for U.S. companies.

In related news, for the

month last year, due primarily to

10th month in a row, Egypt’s

increased shipments of crude oil,

global trade deficit narrowed,

fresh fruits, plastics and potatoes.

reaching LE 17.37 billion in May

Meanwhile, imports dropped by

2014, a decrease of 28.6 percent

13.6 percent to reach LE 35.93

compared to the same month last

billion, driven by a drop in imports

year. According to CAPMAS

of petroleum, iron and steel, crude

U.S AFRICA TRADE

November/December

2014

13

INITIATIVE

A “shelter” For Africans Immigrants African Development Center Of Minnesota

African Development Center is amongst these players and thinks that synergy should be created around African immigrant’s empowerment. For the new team led by Nasibu Sareva, who joined the organization in 2006, the legacy of the organization founder remains intact.

BY JAMES WALKER

M

innesota is home to over one-hundred thousand African immigrants, many of whom face language, cultural, and religious barriers. However there are many organizations that work to help these different communities to fully integrate U.S in general and Minnesota in particular.

African Development Center is amongst these players and thinks that synergy should be created around African immigrant’s empowerment. ADC, founded by the Somali-American , Hussein Samatar, who was stroke by death in 2013 works within the African communities of Minnesota to

14

Nasibu Sareva, Executive Director of ADC

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2014

sustain successful businesses, build wealth, and promote community reinvestment through workshops and consultations on financial literacy, business development, and home ownership.

For the new team led by Nasibu Sareva, who joined the organization in 2006, the legacy of the organization founder remains intact. ADC, since its creation, is dedicated to the economic empowerment and success of African immigrants and actively works to reduce barriers and create a path for African immigrants to achieve financial success.

Many branches are already opened across Minnesota.

CURRENCY SNAPSHOT

AFRICAN CURRENCIES VERSUS U.S Currency Name

Country / Entity

(sorted alphabetically)

Currency Code

In U.S Dollar ($ 1=)

(sorted alphabetically)

MADAGASCAR MALAWI

ALGERIA

Algerian Dinar

DZD

83.3083 DZD

ANGOLA

Kwanza

AOA

8.8454 AOA

Currency Name

Currency Code

In U.S Dollar ($ 1=)

Malagasy Ariary

MGA

2,687.00 MGA

Kwacha

MWK

433.824 MWK

Country / Entity

ARUBA

Aruban Florin

AWG

1.79000 AWG

MALI

CFA Franc BCEAO †

XOF

515.066 XOF

BENIN

CFA Franc BCEAO †

XOF

515.066 XOF

MAURITANIA

Ouguiya

MRO

290.910 MRO

BOTSWANA

Pula

BWP

9.10750 BWP

MAURITIUS

Mauritius Rupee

MUR

31.4399 MUR

BURKINA FASO

CFA Franc BCEAO †

XOF

515.066 XOF

MOROCCO

MAD

8.71074 MAD

BURUNDI

Burundi Franc

BIF

1,555.00 BIF

MOZAMBIQUE

MZN

31.2629 MZN

CABO VERDE

Cabo Verde Escudo

CVE

1,555.00 BIF

CAMEROON CENTRAL AFRICAN REPUBLIC CHAD

CFA Franc BEAC ‡

XAF

515.001 XAF

NAMIBIA

NAD

11.0345 NAD

CFA Franc BEAC ‡

XAF

515.001XAF

NIGER

Moroccan Dirham Mozambique Metical Namibia Dollar South African Rand (ZAR) also accepted CFA Franc BCEAO †

XOF

515.066 XOF

CFA Franc BEAC ‡

XAF

515.001XAF

NIGERIA

Naira

COMOROS

Comoro Franc

KMF

386.332 KMF

CONGO CONGO, DEMOCRATIC REPUBLIC OF THE CÔTE D’IVOIRE

CFA Franc BEAC ‡

XAF

515.066 XOF

CFA Franc BCEAO †

XOF

DJIBOUTI

Djibouti Franc

EGYPT EQUATORIAL GUINEA ERITREA

NGN

165.540 NGN

RWANDA Rwanda Franc SAO TOME AND Dobra PRINCIPE SENEGAL CFA Franc BCEAO †

RWF

686.000 RWF

STD

13.6858 SCR

XOF

515.066 XOF

SEYCHELLES

Seychelles Rupee

SCR

13.6858 SCR

SIERRA LEONE

Leone

SLL

4,348.39 SLL

515.066 XOF

SOMALIA

Somali Shilling

SOS

824.967 SOS

DJF

180.838 DJF

SOUTH AFRICA

ZAR

11.0351 ZAR

Egyptian Pound

EGP

7.15243 EGP

SOUTH SUDAN

SSP

5.69630 SDG

CFA Franc BEAC ‡

XAF

515.001XAF

SUDAN

Rand South Sudanese Pound Sudanese Pound

SDG

5.69630 SDG

Nakfa

ERN

10.4700 ERN

Lilangeni

SZL

11.0327 SZL

ETHIOPIA

Ethiopian Birr

ETB

20.0390 ETB

GABON

CFA Franc BEAC ‡

XAF

515.001XAF

Tanzanian Shilling

TZS

1,695.49 TZS

CFA Franc BCEAO †

XOF

515.066 XOF

Franc Congolais

CDF

918.508 CDF

GAMBIA

Dalasi

GMD

41.3753 GMD

SWAZILAND TANZANIA, UNITED REPUBLIC OF TOGO

GHANA

Ghana Cedi

GHS

3.20749 GHS

TUNISIA

Tunisian Dinar

TND

1.79497 TND

GIBRALTAR

Gibraltar Pound

GIP

0.619938 GIP

UGANDA

Uganda Shilling

UGX

6,370.00 ZMK

GNF

0.619994 GIP

ZAMBIA

Kwacha

ZMK

6,370.00 ZMK

ZIMBABWE

Zimbabwe Dollar

ZWD

361.900 ZWD

GUINEA

Guinea Franc Guinea-Bissau Peso GUINEA-BISSAU CFA Franc BCEAO also accepted KENYA Kenyan Shilling Loti LESOTHO South African Rand (ZAR) also accepted LIBERIA Liberian Dollar LIBYA

Libyan Dinar

GWP

0.619996 GIP

KES

89.0290 KES

LSL

11.0342 LSL

LRD

92.4999 LRD

LYD

1.30525 LYD

U.S AFRICA TRADE

Source: International Standards Organization. Updated Nov1st 2014.

Based on the Dollar fluctuation each African currency will automatically change

November/December

2014

15

TRAVEL/TOURISM

LUANDA, ANGOLA: THE PRICE OF GOOD LIFE IN THE CITY

BY YVON VIRGINIE

A

ngola boasts a fabulous $14.3 billion worth of international oil reserves known as black gold. Oil exports from here make it Africa’s second-largest after Nigeria and foreigners are flocking here to work.

Offices and accommodation are in short supply and the expats are overloading the city with their demands. Angola

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U.S AFRICA TRADE

is an oil-rich country that looks forward to a predicted 12 per cent growth in its economy this year.

While major powers lick their wounds over collapsing markets, Angola strides forward at breakneck speed, confident of double-digit growth for years to come. Shiny new shopping malls and satellite cities of condominiums and bungalows are springing up to hasten Luanda

November/December

2014

“

Expats are attracted by generous salary packages, free private education for their children, a driver and 4x4, and two business-class trips home each year. No wonder Mercer, a leading firm of financial analysts, has put Luanda at the top of its annual expat cost-of-living.

into the 21st Century. People earn good money, they want to enjoy life and they don’t look at the price. For its 18 million populations it is time to look at life differently after decades of war.

This is future people from Angola dreamed after the death of Angola’s first president, Agostinho Neto, on 10 September 1979, José Eduardo dos Santos the actual president stabilize the country

U.S AFRICA TRADE

economy. Many jobs have been created and an increase in foreign investment of country, such as U.S and China. Foreign investment has a noticeable impact on Angola GDP. Expats are attracted by generous salary packages, free private education for their children, a driver and 4x4, and two business-class trips home each year. No wonder Mercer, a leading firm of financial analysts, has put Luanda at the top of its annual expat cost-of-living.

Meanwhile, Angola government has been bumping billions of dollar of investment. Infrastructures have been the key sector. Luanda, the capital city, became a modern city. But this comes with a price.

The housing market price is now soaring, and the cost of domestic commodities quiet expensive due to the massive amount of liquidity in circulation.

November/December

2014

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TRADE AGENDA

5th Global Entrepreneurship Summit

International Trade Exhibition 10th Tanzania Trade Show

Infrastructure Business Development Mission/ International Trade Missions

November 19-21 2014 Where: City of Marrakech, Morocco.

Registration: gesmarrakech2014.org

Date: 28 - 30 November 2014 Where: Dar-Es-Salaam Registration: growexh.com

GES 2014 Participants will be encouraged to sign up to our online marketplace module, which will allow participants to connect with other entrepreneurs, investors and government officials where there may be common ground and opportunities for technology transfer, investment, ment oring and growing and scaling businesses.

Participants: From over 20 countries & visitors from over 12 African countries 6800 business / trade / general visitors registered for the exhibition and 900 overseas trade visitors were recorded who came from Britain, Burundi, India, Hong Kong, Oman, Singapore, South Africa, Nigeria, Ethiopia, Kenya and Uganda.

December 3-11, 2014.

Event: Infrastructure Business Development Mission to Morocco, Egypt, &Jordan O r g a n i z e d b y t h e U. S .

Department of Commerce, this mission (with optional West Bank briefings) will enable U.S. firms will gain market insights, make industry contacts, network with key government officials and decision makers, solidify business strategies, and advance specific projects.

Afro Food 2015 Date: December 3-11, 2014 Where: Cairo, Egypt register: afrofood.net E-Mail: info@ afrofood.net.

Particpants: 20,000 visitors are coming from Egypt, Tunisia, Morocco, Sudan, Algeria, South Africa, Kenya, Senegal, Tanzania, Kuwait, Saudi Arabia, Bahrain, Syria, Lebanon, Libya, Jordan, France, Germany, Greece, Italy and Turkey.

INTERNATIONAL JOB OPENINGS

WORLD TRADE ORGANIZATIONS INTERNHIPS

BAIN & COMPANY Associate Consultant

AFRICAN DEVELOPMENT BANK Chief Treasury Officer Position title: Chief Treasury Officer Publication date: 13/10/2014 Closing date: 04/11/2014 Application.www.afdb.org/ en/careers/

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• Sharp problem-solving skills; • A results-oriented track record; • Leadership experience; • A passion for consulting and for life.

To learn more about specific offices and our recruiting process, please visit www.joinbain.com

U.S AFRICA TRADE

The WTO Secretariat maintains a limited internship program for post-graduate university students wishing to gain practical experience and deeper knowledge of the multilateral trading system. Only a limited number of such internship posts is available. To aplply,visit WTO’s E-Recruitment website at: www. wto.org. Duration: Up to 24 weeks.

November/December

2014

Offshore West Africa 2015 When: January 20-22 2015 Where: LAGOS Nigeria Over 1,200 visitors regularly attend Offshore West Africa.

The 19th annual conference and exhibition provide visitors with a wide range of market leading products and services. The exhibition will also present visitors with a whole host of networking opportunities

AFRICA IS THE NEW FRONTIER

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states, Investment Opportunities Join other U.S companies already established in Africa Let us be part of your success. Find better place to Export in Africa with us.

G.A EXIM

INTERNATIONAL

Your success is our first priority

7900 International Drive,Bloomington, MN suite 300 Phone: 6512469036. Email: usafricatrad@gmail.com. Web: www.usafricatrade.org