Latest news with #subSaharanAfrica
Arab News
17 hours ago
- Business
- Arab News
Arab-Islamic Ministerial Committee holds press conference on Gaza ceasefire
Istanbul's 'suitcase trade' stalls as African merchants face crackdown ISTANBUL: Porters roam the narrow streets of Laleli in central Istanbul carrying parcels ready for shipment to customers all over the world. The maze of alleys that lead down to the Sea of Marmara have long been the center of the 'suitcase trade' to sub-Saharan Africa, a route through which merchants carry goods back and forth in their baggage. But Laleli's informal shipping scene, once a bustling hub of cross-continental trade, is now facing growing pressure from rising costs and tougher residency rules imposed by Turkish authorities. African traders, who helped drive demand for Turkish goods through the 'kargo' system – small-scale shipping services between Turkish wholesalers and buyers across Africa – say business has slumped, even as official export figures continue to rise. While some still make round trips, most trade now moves through shipping services. For agents like Fadil Bayero – a Cameroonian who runs a kargo business that ships clothing, cosmetics and home textiles from Turkiye to clients across Africa – business is slow. Turkish products have a very good reputation in Africa, he said. 'Before this room was filled to the ceiling. Today it is half-empty,' the 39-year-old said. Like many Africans in the neighborhood, he claimed that shipments have dropped, even as Turkish exports to Africa have generally soared – from $11.5 billion (€10.1 billion) in 2017 to $19.4 billion last year. Turkish textiles, once known for their affordability, have grown more expensive in recent years. Merchants say inflation – above 35 percent since late 2021 – has pushed African buyers toward cheaper suppliers in China and Egypt. But for Bayero, the explanation lies elsewhere. 'It's not inflation that's the problem, it's the arrests. Many people have been deported,' he said. Since 2022, Turkiye's migration policy has toughened, with the authorities blocking new residence permit applications in several districts of Istanbul, including Fatih, where Laleli is located. The goal is to limit the proportion of foreigners to 20 percent per neighborhood. 'The stores, the streets, everything is empty now,' said Franck, one of Bayero's colleagues. 'Look out the window – the sellers sit all day drinking tea while waiting for customers.' A few streets away, Shamsu Abdullahi examined his spreadsheets. In his dimly lit room, dozens of bundles are stacked on the white tiled floor, awaiting shipment. Since January, he and his two colleagues have shipped over 20 tons of goods by air freight and filled the equivalent of 15 maritime containers. The Nigerian has also made around 15 round trips to his homeland, bringing 80 kilos (176 pounds) of goods with him on each journey. 'My residence permit expires in two months, and I think the authorities won't renew it,' he said. He and his associates generate over a million euros a year in revenue. 'It's money spent in Turkiye that fuels the local economy,' he said. Historian Issouf Binate, a lecturer at Alassane Ouattara University in the Ivory Coast, said much of the trade is informal, making it hard to track. 'It's difficult to provide figures on the volume of Turkiye's exports to Africa because many businesses are informal,' he said. 'Kargos' are 'transitional businesses,' with improvised activity shared between friends or family members. Many in Laleli now believe that the golden age of the 'kargo' and suitcase trading is over. 'In one year we went from about three tons of shipments per week to 1.5,' said a young Congolese who has lived in Istanbul for five years and asked not to be named. 'Even if we still manage to find low-cost products, we cannot compete with China,' he added. Arslan Arslan, a Turkish merchant who sells African dresses a few meters (yards) away, painted the same picture. 'Before, I had customers from morning to evening... but the authorities sent them back.' Now Arslan searches for his African customers on social media. 'I'm on Telegram, Instagram, Facebook. But here, everything has become expensive,' he said. 'I've lost 70 percent of my revenue in a year.'
Zawya
3 days ago
- Business
- Zawya
Etu Energias Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 to Detail Strategies for Achieving 80,000 Barrels Per Day (BPD)
Edson dos Santos, Chairman and CEO of Etu Energias – Angola's largest private oil producer – has joined the African Energy Week (AEW): Invest in African Energies 2025 conference to discuss its plans for scaling-up operations across Angola's upstream and downstream sectors. The company plans to increase crude production to 80,000 barrels per day (bpd) by 2030 while expanding downstream distribution and lubricant production. Dos Santos' participation at Africa's largest energy event will offer insight into how Etu Energias will achieve this. Etu Energias' expansion plan is built on five key pillars, namely operational excellence, growth, financing, people and ESG. In 2024, the company reported its strongest financial results to date, achieving a 53% increase in net profit compared to 2023. During the year, the company also increased its portfolio of operated and non-operated assets from 6 to 15, with the company's oil reserves growing 2.5 times to reach 106 million barrels. By 2030, Etu Energias seeks to increase its reserves to 387 million barrels through investments in both exploration and development assets. At AEW: Invest in African Energies 2025, dos Santos will detail the company's future development plans. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Upstream, Etu Energias is undertaking an ambitious drilling and production plan in 2025, with ongoing projects including eight exploration projects, 10 development projects and seven redevelopment projects. Onshore, the company signed a Risk Service Contract for Block CON 4 in May 2025, granting the company a 25-year operating licensing for the block. Of this, five years is allocated for exploration while 20 years is allocated for production. Etu Energias is the operator of Block CON 4, alongside Block CON 1 – whereby the first phase of studies has been completed and a seismic survey has been defined. The survey targets 430 km of 2D data in the first phase. Meanwhile, Etu Energias continues its 3D seismic campaign at Block FS/FST. Deforestation and demining are on track for May 2025 while the first exploration well is expected to be spud this year. Offshore, the company plans to complete exploration studies for its operated Block 2/05 in 2025, with well-drilling targeted for 2025/2026. This follows an increase in block acquisitions in 2024, including in Block 2/05 from 30% to 36%, in Block 14 from 20% to 29%, in Block 14K from 10% to 14.5% and in Block 17/06 from 5% to 7.5%. Downstream, Etu Energias is expanding its retail and distribution network through the development of storage facility and lubricant infrastructure. The company launched a 1,000-ton-per-month lubricant line in 2024 in collaboration with Glide Petroleum and plans to start production in 2025. Plans to develop a storage and export terminal are also underway, with the company weighing options for an inland terminal or FSO lease. Further, Etu Energias plans to hold an Initial Public Offering (IPO) in 2026. The IPO will support efforts to raise capital as the company seeks new block opportunities in both the onshore and offshore market. The IPO will not only support debt reduction and capital raising, but enhancing the company's credibility. Access to a wider investment pool will further support the company's expansion plans in Angola. At AEW: Invest in African Energies 2025, dos Santos is expected to share further updates. 'Etu Energias is a prime example of an Angolan oil company unlocking significant value from Africa's oil and gas reserves. Through its diverse portfolio of exploration and development blocks, its commitment to sustainable and inclusive growth, and dedication to strengthening downstream distribution, the company is driving impactful growth in Angola's oil market. Looking ahead, investments made by Etu Energias will help chart a new future of energy security in southern Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Mail & Guardian
3 days ago
- General
- Mail & Guardian
Antibiotic resistance profiles of oral flora in hippopotami (Hippopotamus amphibius): implications for treatment of human bite wound infections
Name of research institution: University of Pretoria Name of Faculty: Veterinary Science Name of department: Veterinary Tropical Diseases First author of the paper: Professor Anita Michel Authors: Maralize Engelbrecht, Francois Roux2 Jeanette Wentzel and Annelize Jonker Email address: Name of submitter: Professor Karen Keddy Capacity of submitter: Head of Department: Veterinary Tropical Diseases Email address of submitter: Submitting authority: Faculty of Veterinary Science Short description of the research: The common hippopotamus ( Hippopotamus amphibius ) which occurs in rivers, lakes and wetlands in sub-Saharan Africa, is known for its aggressive behaviour when defending its territory. This leads to numerous attacks on people close to water often leading to life-threatening injuries and severe wound infections. Our study investigated the bacterial spectrum common to the oral cavity of the hippopotamus and the antibiotic susceptibility profiles of those bacteria as this is of crucial importance to the effective treatment of bite wound infections caused by hippopotami. The findings showed that the bacteria usually residing in the hippopotamus' mouth are aquatic bacteria with a high level of antibiotic resistance to several antibiotic drugs which are commonly used to treat bite wound patients. This study highlights the need for revised, more effective treatment protocols that take into consideration the antibiotic susceptibility profiles reported in this paper. For the full paper see below:
Zawya
3 days ago
- Business
- Zawya
EU, Germany back new renewable energy investment platform in Zimbabwe
Yesterday, the and programs officially launched a new country window in Zimbabwe. Funded by the European Union and Germany, the announcement was made in Harare during the EU-Zimbabwe Economic Forum, attended by government officials, private sector players, and development partners. The country window is designed to drive private investment in renewable energy by making financing more accessible, supporting regulatory reforms, and providing technical and strategic guidance to project developers. It draws on the financial advisory services of including its EDGE Finance tool, and the policy and governance expertise of According to the International Energy Agency, hydropower accounted for 67% of Zimbabwe's electricity production in 2022. However, repeated droughts have weakened this dependency, creating an urgent need to diversify the country's energy mix. In response, the rollout of solar solutions has become a national priority to strengthen energy security. Speaking on behalf of the private sector, Isaiah Nyakusendwa, President of the Renewable Energy Association of Zimbabwe, welcomed the initiative. He said the country window had come at the right time and that the technical support to the public sector would help create a more attractive environment for private energy investment. With this launch, Zimbabwe joins a growing list of sub-Saharan African countries, including Nigeria, where recently introduced a similar national window. These platforms are tailored to local contexts and aim to remove key barriers to private sector investment in clean energy. Ultimately, the goal is to build a more resilient energy market that can attract the capital needed to meet electrification targets and support the energy transition across the region. © Copyright The Zimbabwean. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
CFA Institute Report Examines Policy Solutions to Capital Formation Barriers in Africa and the Role Private Markets Could Play in this Development
New research from CFA Institute ( Capital Formation in Africa: A Case for Private Markets ( examines the case for mobilizing private capital to support the structural investment needs of sub-Saharan Africa. The research identifies and analyses existing barriers to the development of capital markets and offers a series of policy recommendations for regulators, policymakers, the investment industry, and international institutions active in the region. Structured as a series of market-specific chapters, Capital Formation in Africa: A Case for Private Markets ( covers 11 African economies, with contributions from local investment industry leaders in Botswana, Ethiopia, Kenya, Mauritius, Nigeria, South Africa, Uganda, West Africa (with a focus on Côte d'Ivoire and Senegal), Zambia, and Zimbabwe. Dr. Phumzile Mlambo-Ngcuka, Former Deputy President of South Africa, writes in her foreword to the research: 'The CFA Institute research illuminates the current state of Africa's capital markets but also serves as a call for stakeholders to engage thoughtfully with the markets evolving dynamics. It is my hope that this work will inspire policy reform and innovative solutions that navigate the complexities of capital formation with investor protection and strategic foresight. In doing so, we can shape the future of finance and drive the socioeconomic development of Africa.' Ahmed Rashad Attout, Director of Financial Sector Development at the African Development Bank, also comments in his foreword to the research: 'At the African Development Bank, we are committed to building enduring partnerships with stakeholders who share our vision of a prosperous, inclusive, resilient, and integrated Africa. It is in that spirit that we welcome this important research from CFA Institute. The publication provides a much-needed local perspective on capital market development in Africa. Its conclusions and recommendations provide a basis for advancing the development of the investment solutions needed to build the efficient, dynamic, and integrated capital markets that Africa needs to drive its development agenda.' The research will be launched today in Abidjan, where the African Development Bank is holding its annual meeting, during a panel discussion ( moderated by Olivier Fines, CFA, Head of Policy Research and Advocacy at CFA Institute. Fines adds: 'There is historically a strong correlation in various parts of the world between capital market development and socioeconomic progress. This research seeks to consider the main barriers to capital formation in sub-Sahara Africa and whether private markets, particularly private equity and private debt, can be a catalyst for stronger capital market development in the region. The authors believe private capital is particularly suited to the region's current structural investment needs, including infrastructure and small- and medium-sized enterprise funding. The research also considers the potential for mixed finance projects and offers enduring lessons for sub-Saharan Africa based on the successes of the Asian tiger economies.' Recommendations in the report: For Regulators and Policymakers: Offer regulatory clarity and predictability through clear roadmaps and policy consultations when making significant changes to existing legislation Issue guidance on the regulatory treatment of private assets Develop strong and standardized corporate governance rules to improve corporate governance practices, the bedrock of investor confidence For Governments: Consider forming public-private partnerships to stimulate the growth of financial infrastructure Collaborate with local firms to deliver investor education campaigns and offer grants and scholarships to students and early-career professionals pursuing accredited professional licensing qualifications Consider initiating projects to create endowment-like funds aimed at generating economic growth in various sectors of the economy Coordination between public authorizers and the private sector can make clearer the objective to integrate capital markets within the economic fabric of society For Institutional Investors and the Investment Industry in Sub-Saharan Africa: Allocate resources and provide incentives for professionals to improve their skills; identify areas of skill deficits and recruit talent to address gaps Consider targeting small- and medium-sized enterprises in marketing campaigns that highlight the availability of funding and capital-raising options Develop private markets by aligning long-term and stable financing needs of SMEs and startups with private market's long-term investment horizon Leverage local institutional investors (local pension funds, insurance firms, and sovereign wealth funds) as long-term anchor investors in capital markets Distributed by APO Group on behalf of CFA Institute. For further information or to speak with the research authors, please contact: pr@ Follow CFA Institute on: LinkedIn X : @ CFAInstitute. About CFA Institute: As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors' interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 10 offices and 160 local societies. Find us at About the CFA Institute Research and Policy Center: The CFA Institute Research and Policy Center brings together CFA Institute expertise along with a diverse, cross-disciplinary community of subject matter experts working collaboratively to address complex problems. It is informed by the perspective of practitioners and the convening power, impartiality, and credibility of CFA Institute, whose mission is to lead the investment profession globally. Visit the Research and Policy Center at
