Latest news with #GlobalGateway
Business Insider
24-05-2025
- Business
- Business Insider
EU backs Central African trade growth with €40 million corridor upgrade
The European Union is reinforcing its commitment to Africa's economic development with a €40 million investment aimed at modernizing the Douala N'Djamena trade corridor. The EU is investing €40 million to modernize the Douala N'Djamena trade corridor, a key route in Central Africa. This initiative is part of the EU's Global Gateway strategy to promote sustainable infrastructure globally. Upgrading the corridor is expected to lower trade costs, increase efficiency, and strengthen EU-Africa partnerships. This strategic route connects Douala, Cameroon's largest port and economic hub, to N'Djamena, the capital of Chad, facilitating trade and transport across Central Africa. This investment is part of the EU's Global Gateway initiative, a comprehensive strategy to promote sustainable infrastructure projects globally by mobilizing public and private sector financing. Specifically, the funding for the Douala N'Djamena corridor is structured under a guarantee mechanism developed jointly by the EU and the International Finance Corporation (IFC). This mechanism is designed to reduce investment risks and encourage private sector participation in critical infrastructure projects. Koen Doens, Director General for International Partnerships at the European Commission, emphasized the broader objectives of this corridor upgrade. According to Doens, the project is not solely about improving trade logistics; it also aims to strengthen regional integration, generate employment opportunities, and enhance stability throughout Central Africa. These goals align with the EU's evolving approach towards Africa transitioning from traditional aid giving to fostering strategic partnerships and investments that support sustainable development and economic sovereignty. Inside the Douala-N'Djamena trade route The Douala N'Djamena corridor plays a crucial role in linking landlocked Chad with international markets through Cameroon's port facilities, thereby facilitating the movement of goods, services, and people. Enhancing this corridor is expected to reduce transit times and transport costs, which have historically hindered trade efficiency and economic growth in the region. While specific details of the infrastructure improvements were not outlined in the announcement, the investment likely encompasses upgrades to transport infrastructure and border management systems, given the corridor's role as a major trade artery. Improving these elements can significantly impact the ease of doing business, attract further private investment, and promote intra-African trade. Coordination between the European Union and the governments of Cameroon and Chad is central to the success of this project. The EU is focused on ensuring that financial resources are managed with transparency and accountability, supporting governance reforms to maximize the development impact. This initiative represents a clear shift in the EU's Africa policy, signaling a move away from one-way aid models towards partnership-based engagement.
See - Sada Elbalad
18-05-2025
- Sport
- See - Sada Elbalad
EU, CAF Forge Landmark Partnership to Empower African Youth Through Football
Ahmed Emam In a step intended to strengthen youth development and visibility of European investments across Africa, the European Union (EU) and the Confederation of African Football (CAF) decided to ink a three-year cooperation and sponsorship agreement. The deal, which was formalized ahead of the CAF Under-20 Africa Cup of Nations Final in Cairo, is set to deepen collaboration between Europe and Africa through sport, education, and community engagement. Signed by European Commissioner for International Partnerships Jozef Síkela and CAF President Patrice Motsepe, the agreement marks a strategic alliance between the EU and Africa's football governing body. It will channel support toward CAF's youth and safeguarding programmes while promoting the EU's Global Gateway initiative, which seeks to mobilize up to €150 billion in sustainable investments across Africa by 2027. At the heart of the partnership is the CAF African Schools Championship—Africa's largest youth football competition. Since its launch in 2022, the tournament has involved more than 1.9 million boys and girls from 46 countries. With the EU's backing, the competition is expected to expand to 33,000 schools, combining football with leadership training, education, and community involvement. The initiative is designed not only to foster talent on the pitch but to instill critical life values such as respect, perseverance, and teamwork. Prize money awarded to winners is reinvested into schools through infrastructure projects and educational resources. The EU-CAF agreement also bolsters efforts to protect young athletes through the continent-wide Safeguarding Programme, launched by CAF in 2022. The initiative includes the appointment of dedicated safeguarding officers in all 54 CAF member associations, training sessions on preventing exploitation and trafficking, and a series of awareness campaigns under the banner #ProtectTheDream. These measures aim to create safe environments for children and teenagers involved in football as they transition from grassroots to elite levels. Beyond youth competitions, the EU will be actively involved in several of CAF's flagship tournaments, including the Women's Africa Cup of Nations in 2025 and 2026, the Men's AFCON in 2025 and 2027, and ongoing safeguarding and school-based activities. These events provide a significant platform for the EU to enhance its presence and reinforce its commitment to Africa's development goals. The partnership reflects a broader EU strategy to use sport as a driver for social change. Through the Global Gateway initiative, the EU is investing in areas ranging from renewable energy and digital infrastructure to education and healthcare. Projects such as the Lobito Corridor in Southern Africa, the Nachtigal Hydropower Plant in Cameroon, and vocational training programmes in Angola and Senegal underline Europe's long-term commitment to Africa's sustainable growth. Motsepe praised the agreement as a transformative step for African football and youth empowerment. 'Football is more than a game. It's a platform to build futures, strengthen communities, and create lasting partnerships,' he said. Commissioner Síkela echoed the sentiment, calling the partnership 'a bridge between continents' that will deliver impact where it's needed most. read more Japan Stun Spain 2-1 to Qualify for World Cup Last 16 World Cup 2022: Get to Know Confirmed Line-ups of Japan and Spain Group E Decider Saudi Arabia Bid Farewell to World Cup after 2-1 Loss to Mexico Tunisia Achieve Historic Win over France but Fail to Qualify Tunisia to Clash against France in World Cup Sports Get to Know Squad of Group D Teams in World Cup Sports Al Ahly Gift EGP 70,000 to Players After Claiming Egyptian Super Cup Title Sports Bencharki Hits First 2 Goals with Al Jazira Since Leaving Zamalek Sports Arsenal Possible Line-up for Nottingham Forest News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Zawya
16-05-2025
- Business
- Zawya
Nigeria: Shettima calls for EU-Africa collaboration to deliver transformative impact
Vice President Kashim Shettima has urged the European Union (EU) and African nations to deepen their strategic partnership and harness their collective potential for transformative development across the continent. Speaking on Thursday at the Presidential Villa during a courtesy visit by a delegation from the EU led by Ambassador Gautier Mignot, the EU Ambassador to Nigeria and ECOWAS, Shettima described the EU as Nigeria's 'natural partner' and stressed the need to move beyond promises to tangible outcomes in areas such as infrastructure, trade, education, and digital inclusion. Shettima said, 'Our expectations as Nigerians and as Africans are clear. We want this partnership to graduate from well-meaning commitments to transformative outcomes. We want more joint ventures, deeper trade facilitation under the AfCFTA, and irreversible investments in energy, education and digital inclusion.' He reiterated Nigeria's commitment to leveraging the EU's Global Gateway initiative to fast-track priority projects such as high-speed rail, renewable energy infrastructure, port modernisation, and vocational training centres. 'The EU are our natural allies. I am guided by logic and rationality, not sentiment. We see this relationship as long-term and strategic. 'We hope to see the EU move from being a donor to being a co-creator of African prosperity. We really want to be partners, not just aid recipients,' he said, while advocating for a shift from donor-recipient dynamics to a model of co-creation and shared prosperity. Shettima also highlighted the shared values between Nigeria and the EU, including democratic governance, freedom of worship, gender empowerment, and climate resilience. On the African Union (AU), the Vice President commended the current leadership of the AU Commission for reinvigorating the institution's vision, noting, 'They are poised to reposition Africa not just as a subject of global discussion, but as a co-author of the world's next chapter.' In his remarks, Ambassador Mignot emphasized the long-standing and deep-rooted relationship between the EU and Africa, which he said is celebrating 25 years of strong bilateral cooperation. 'The EU is Africa's first trading partner, first investor, first provider of development aid, and first humanitarian donor,' Mignot noted. 'Our foreign direct investment in Africa reached €309 billion in 2022—more than the U.S. and China combined.' The Ambassador said the visit was also to review the progress of the Joint Vision for 2030, a framework agreed at the 2022 AU-EU Summit, which aligns with Africa's Agenda 2063 and the implementation of the African Continental Free Trade Area (AfCFTA). In a separate engagement on Thursday, Vice President Shettima reaffirmed Nigeria's commitment to sustaining the strong bilateral ties between Nigeria and Zambia. He gave the assurance while receiving Dr. Samuel Miambo, Special Envoy of Zambian President Hakainde Hichilema, who delivered a personal message to President Bola Ahmed Tinubu. Describing Nigeria and Zambia as 'fraternal nations,' Shettima lauded Zambia's contributions to the liberation struggles of southern Africa and its continued democratic stability. He assured of Nigeria's support for Zambia in its efforts to improve governance and the lives of its citizens. Dr. Miambo, on his part, sought Nigeria's backing for his candidacy for the presidency of the African Development Bank (AfDB), outlining a vision focused on energy security, infrastructure development, and the establishment of an African Centre of Excellence for Energy in Nigeria. He said Nigeria's leadership role on the continent would be pivotal to the success of such a candidacy. The envoy was accompanied by Zambia's High Commissioner to Nigeria, Ambassador George Imbuwa, and senior advisers to the Zambian president, Mr. Manfred Ndonuie and Mrs. Elita Mwambazi.
Zawya
05-05-2025
- Business
- Zawya
European Union and Botswana partner on digital transformation
Anchored in the EU's Global Gateway strategy, which aims at boosting smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world, and aligned with Botswana's digital transformation priorities, this new programme illustrates the solid partnership between the EU and Botswana. The launch event tomorrow, 6 May will highlight the achievements of the EU-Botswana digital partnership to date, while outlining the strategic objectives of the programme to enhance digital skills and entrepreneurship, strengthen digital governance, and promote inclusive access to public services, especially for the youth, women, and underserved communities. Informed by European best practices in digital governance, regulatory reform, and digital entrepreneurship tailored to Botswana's ambitions, the programme will be implemented with the support of Team Europe members, France, Estonia and Finland, who will mobilise technical expertise and investments to support Botswana's digital journey. The event will convene Ministers for State President, Communication and Innovation, senior government officials, representatives from the European Union and Team Europe, civil society organisations, and the private sector as key partners of the digital transformation process. Distributed by APO Group on behalf of Delegation of the European Union to Botswana and SADC.
The Hindu
28-04-2025
- Business
- The Hindu
‘IMEC will work if India, Europe together keep agri sector out'
The India-Middle East-Europe Economic Corridor's (IMEC) potential can be realised if Europe and India can find common grounds by keeping the agriculture sector aside, Steven Ciobo, Australia's former minister of trade and defence, said on Monday. He said at a time when the world is undergoing a third industrial revolution, the impact of artificial intelligence will be extraordinary. 'The core of IMEC should be built on what is going to be 20 years from now. The UAE, Saudi Arabia are already trying to leverage their position to make sure they are on top of AI. India is on the top when it comes to the talent pool related to AI. IMEC stands to achieve when it realises this,' he said. Mr. Ciobo was speaking during the first India-Middle East-Europe Economic Corridor Summit held here. Maharashtra Chief Minister Devendra Fadnavis said that the State would be a gateway for the IMEC. . In his message for the first IMEC Summit, Prime Minister Narendra Modi said, 'The IMEC Corridor is reviving a trade route that connected civilisations and became the harbinger of flourishing trade and commerce, resulting in shared prosperity for the entire region. With the strengthening of these pathways, ancient partners will find newer ways of cooperation and collaboration. As the Corridor becomes a reality, it will unfold a futuristic blueprint for connectivity, commerce and culture. As India continues to expand its engagement with West Asia making our relationships stronger than ever before, this summit is yet another reaffirmation of India's deep-rooted commitment to integrate more deeply with global value chains and nurture inclusive growth.' Representing the European Union, Finland's Consul General in Mumbai said that the EU, which is the second largest economy, looked at EU not just for trade route, but also for political connectivity. 'IMEC is complementary to the Global Gateway initiative by the EU. Till now, the focus was on Africa. But now, it is on Asia too,' he said. Bullet train During a fireside chat at the summit, Mr. Fadnavis said while Gujarat had moved faster when it came to the bullet train project, Maharashtra too had increased the pace of work. The bullet train will be operational by 2028. From Vadhwan port, it will reach BKC in 20 minutes, he said. He also said that a new airport at Vadhwan would be operational to increase the capability of the port. 'Maharashtra has the aspiration to become the gateway for IMEC. Mumbai, Maharashtra will play a pivotal role in IMEI corridor. When we talk of the plans to become a trillion dollar economy, look at the infrastructure push in the last few years. Entire Maharashtra feels connected now. We have a great opportunity to become the logistics capital. Agritech, manufacturing, clean energy push, green manufacturing – these will be the drivers for IMEC corridor,' he said. Mr. Fadnavis said that the planned corridor would be a gamechanger for the State's electric vehicle (EV) plans. The port-led development model would give Mumbai an added advantage, he said. 'When Vadhwan port's construction is completed, it will be among the first 10 ports of the world. A port and an airport together will create a huge impetus for business. An entire ecosystem for manufacturing will be created there. The new port is to be operational in three to four years. We also plan to build edu-city, health city and innovation city as part of the third Mumbai we intend to develop,' he said, adding that Mumbai had missed out on the IT boom because of the high rentals. Industry representatives and dignitaries from several countries were present for the maiden summit organised by VishwaMitra Foundation, the Emirates Center for Strategic Policy & Research from UAE, and the Institute for Maritime Policy Research from Israel.
