August 25, 2022
Rwanda Regains Control of Upper Airspace After 30 Years
According to AllAfrica news, Rwanda will now have full control over its upper aerial space after more than three decades in the hands of the Tanzanian government. Both governments signed a handover deed after Rwanda notified of its intention to withdraw and directly discharge her responsibility of providing air traffic services in her upper airspace. State officials said that some of the reasons for Rwanda's request were that it needed to improve safety in Kigali Flight Information Region and meet regulatory requirements such as Search and Rescue obligations.
South African Citrus Farmers Face EU Produce Ban
South African citrus farmers are facing difficult times with the latest European Union (EU) legislation that requires all produce from the country to undergo extreme cold treatment of between 30°F to 32°F for at least 16 days before export to stave off false codling moth (FCM) contamination. The government sent a complaint to the World Trade Organization on the matter but has since managed to negotiate the clearing of citrus containers stuck in ports of entry in the EU. If the legislation stays, citrus fruits like blood oranges, Turkey, Salustiana, Benny, and Midknights will be most affected as they cannot withstand those freezing temperatures.
South African consulting firm opens in Egypt.
According to Andrew Mizner from African Law & Business, South African sustainability consultancy IBIS Consulting has entered Egypt with the acquisition of a local business. The new site is the company's eighth office in its seventh country. It has offices in Cape Town, Casablanca and Nairobi in Africa, with additional offices in Singapore, Hong Kong and Paris. The environmental, social, and governance business said it had identified Egypt and Morocco as key financial centres in the North African region and that many of its clients are based in Cairo, such as development finance institutions, banks, credit agencies, private equity firms and other investors and institutions. This new office will help the firm's consulting work more efficiently in Egypt.
World bank resumes grants to Mozambique after scandal.
Redaction AfricaNews recently shared that the World Bank gave $300 million to Mozambique following six years of suspended aid following a financial scandal involving the government. Mozambique's finance minister, Max Tonela, said the funds disbursed by the multilateral organization in the form of a grant would be used for infrastructure projects to support the economy and improve the population's living conditions. The World Bank's country director for Mozambique, Idah Pswarayi-Riddihough, insisted that the funds allocated by his organization should come "in support of structural reforms" and extend the efforts undertaken in recent years to strengthen accountability and transparency in the public sector.
African Finance Corporation supports titanium processors.
Robert Li from African Law & Business shares that Africa Finance Corporation (AFC) has invested in South African natural resources company Nyanza Light Metals. AFC acted as co-mandated lead arranger, co-founder, and co-developer along with the project's African Export-Import Bank (Afreximbank). South Africa is the world's second-biggest supplier of titanium ores yet imports the vast majority of value-added titanium products it needs for paints, plastics, pharmaceuticals and construction materials. The project is significant since it will be the African continent's first titanium dioxide pigment production facility.
UK firm plans to develop Kigali green city master plan.
According to Michael Nkurunziza from the New Times, Feilden Clegg Bradley Studios (FCBStudios), a British architectural design firm, has been selected to develop the green city Kigali master plan and detailed designs for the pilot phase. The firm is known for its sustainable and social design work. The Kigali Green City project will provide green and affordable housing in the Kinyinya neighbourhood of the capital in the Gasabo district and serve as a model for sustainable urban development, connecting affordable housing with climate change adaptation and mitigation measures.
The University of Ghana wins a $165 million judgment debt case.
A District Court in the United States of America has turned down a request to compel the University of Ghana (UG) to pay ACE American Insurance Company an amount of $165,000,000. This is the judgment debt the school was to pay the company for allegedly breaching its obligation under a construction project. There were several reasons why the court dismissed the case against UG, including the lack of jurisdiction to hear the matter.
KPTL, leading NSE listed power firm, wins arbitration in Paris Court
Kalpataru Power Transmission Limited (KPTL), a leading company listed on India's largest National Stock Exchange (NSE), has won an arbitration award against Rwanda Energy Group (REG) in a Paris Court. The dispute was over a contract to install and commission a power transmission network interconnecting the Democratic Republic of the Congo and Rwanda. During settlement discussions, REG coerced KPTL to reduce their claim by signing a settlement agreement. After hearing both parties, the arbitral tribunal upheld the ruling of the Dispute Adjudication Board in favour of KPTL. The tribunal also concluded that the settlement agreement that KPTL had to sign was signed under duress and was, therefore, not valid at all. The Judicial Court of Paris recognized the Arbitral Award, which makes the Arbitral Award legally binding in France and opens the door for KPTL to seek enforcement in France by recovering against the assets of REG.
Why China locked Kenya out of new debt relief deal
According to Brian Ngugi from Business Daily Africa, Kenya's elevation to a middle-income status saw China lock the country out of a new list of African nations that will receive a Beijing debt relief this year. Kenya, East Africa's largest economy, joined the league of the world's lower middle-income nations in 2014. After reaching this status, Kenya, unfortunately, faced a deteriorating cash-flow situation. A large portion of China's loans to Kenya were made on a commercial basis by government agencies, quasi-public corporations and by state-owned banks. Supporters have praised China's debt relief strategies for providing vital financing to infrastructure-starved countries. However, critics like the United States say the program is overloading poor nations with debt.
EVENTS- 08.25.2022
"Africa Climate Week." Economic Commissions for Africa. Malabo, Gabon. 29, August 2022- 6, September 2022.
"Namibia Investment Summit." Invest Africa. NYC, New York, USA. September 22 2022.
"Enhancing the Role of Counsel and Arbitrator in African Arbitration." African Arbitration Association. Accra, Ghana. November 2 2022.