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MESSAGE the Mission of the Corporate Council on Africa Is to Increase Trade and Investment Between the U.S

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MESSAGE the Mission of the Corporate Council on Africa Is to Increase Trade and Investment Between the U.S The SEP A 2015 AFRIC eJOURNAL The monthly newsletter of The Corporate Council on Africa PRESIDENT’S MESSAGE The mission of the Corporate Council on Africa is to increase trade and investment between the U.S. and the countries of Africa. It has been and will continue to be a challenging mission in the immediate future. Putting aside the intricacies and Stephen Hayes inconsistencies in how trade is measured, what is relevant to our members is whether they are in fact increasing their opportunities to do business in Africa. The L-R: CCA President and CEO, Stephen Hayes, Amb. Adebowale Adefuye, and fact is that the larger companies are better CCA Vice President, Amb. Robert Perry at the U.S.-Africa Leaders’ Summit in August 2014 equipped to do business in Africa than are smaller companies. To do business in TRIBUTE TO AMB ADEBOWALE ADEFUYE, Africa requires patience, staying power and sufficient financial resources necessary for AMBASSADOR OF THE FEDERAL REPUBLIC long-term investments. While return on investments may be higher than in many OF NIGERIA TO THE UNITED STATES countries in the world outside of Africa, the time to see those returns can also be quite We offer our condolences to Mrs. Catherine of the Nigerian opportunities. The ebullient long. The greater your financial resources Adefuye and family on the sudden passing personality and confidence in his mission the more likely you are to see a return on on August 27, 2015 of our friend and won the support of Nigerian compatriots your investment. colleague Ambassador Adebowale Adefuye. and American partners. I have fond He came to the United States in 2010 memories of many visits in his office when Over the years I have seen hundreds with a mission to strengthen and deepen he would recount the requests of Ministers of small businesses come to us seeking the relationship between Nigeria and the in Abuja, the challenges presented by assistance for their ideas in Africa. I always United States in many arenas. He quickly American stakeholders, and his plans for ask such businesses the same question: engaged The Corporate Council on Africa win-win solutions that we implemented. “Are you prepared to be involved with as the key American partner to promote In those sessions, he told tales about his us for several years ?” I ask that question increased trade and investment between visits to cities across America meeting with not because I am seeking their money the United States and Nigeria, and our Nigerian diaspora groups, and American for several years, but because in most relationship blossomed, as we worked business and cultural groups to tell cases it will be several years before they together toward a common goal. Nigeria’s real story. I enjoyed dinners at his see a return on investment. They must be residence with diverse guests, and meeting prepared for a longer term engagement in My friendship and respect for him grew most cases. as we envisioned and planned investment his children when they visited in 2014. He conferences to raise the Nigerian profile was the most effective Nigerian ambassador To do business in Africa, as in many other with the American business community, that I have known in representing Nigeria’s places around the world, you need to and the trade missions to enable American interests and building common ground with find reliable partners on the ground. The business representatives to “kick the tires” Americans. private sector in Africa is growing but is Continued on next page... still relatively small when it comes to the ability to do business internationally. An American small business is still larger than its counterparts in Africa. It takes time to find the right partner and in the right business environment. I know of no better Continued on page 7... CCA HOSTS TRIBUTE TO AMB ADEBOWALE ADEFUYE ...continued from front page. THREE PRIVATE My lasting memories of him will be his smile, positive attitude, integrity, professionalism and ability to touch everyone he encountered. Ambassador Adefuye has been a model for me in diplomacy and cultural bridge building. He spoke with clarity on his SECTOR FORUMS positions, while empathizing with the views of others in a spirit of mutual respect. Ade is a friend that I will remember and miss, and feel blessed by knowing him. My PRESENTING deepest sympathies to his wife and family. PRIVATE SECTOR Ambassador Robert C. Perry (ret.) RECOMMENDATIONS Vice President, The Corporate Council on Africa AT AGOA The 14th African Growth and Opportunity Act (AGOA) Forum was held in Libreville, Gabon from August 24-26, 2015. This was the first AGOA Forum to be held in a central African country. CCA organized and moderated three private sector forum discussions. The first panel session looked at the AGOA legislation itself, and its focus on unilateral trade preferences. The panel also took a deeper dive into what has occurred on the continent since the inception of AGOA with respect to trade and investment from the private sector’s perspective. The second panel focused on wider trade opportunities (beyond individual country investment and trade deals) offered by the Continental Free Trade Area (CFTA) and the COMESA- EAC-SADC Tripartite Free Trade Area, with a focus on economic leadership and regulatory reform across different aspects of the market, including trade facilitation, goods and services. The third panel focused their discussion on the challenges of AGOA beyond the legislation as viewed from the private sector perspective. All three panels had senior-level representation from the U.S. and African private sectors and government officials. Amb. Adefuye speaking during the U.S.-Africa Leaders’ Summit in August 2014 U.S. Trade Representative Ambassador Michael Froman addresses the AGOA Forum. At the conclusion of the three private sector panel discussions, CCA moderated a discussion among U.S. and African private sector participants to provide recommendations to improve the implementation of AGOA’s trade and investment goals. The Africa e Journal 2 CONTINENTAL FREE TRADE AREA: CELEBRATING BOOSTING INTRA-AFRICA TRADE SOUTH AFRICAN AND FOSTERING REGIONAL INTEGRATION AIRWAYS’ DIRECT FLIGHT FROM DC TO ACCRA The African Union Assembly launches the Continental Free Trade Area (CFTA) negotiations June 17, 2015 in Johannesburg, South Africa. On Monday, August 24, CCA, with the and services. Issues may arise from some assistance of the International Visitor sectors that are strategic for only some Leadership Program (IVLP), hosted a specific countries. The negotiations are On Wednesday, August 5, CCA hosted delegation from the African Union to based on three principal pillars: marketing, a breakfast to celebrate South African discuss planning for the Continental Free infrastructure and integration. However, Airways’ direct flight linking Washington, Trade Area (CFTA) pact. The delegation was infrastructure has been considered the D.C. to Accra. Stephen Hayes, president composed of 10 African economist trade primary focus. Other negotiations are going and CEO of CCA welcomed the attendees officials from Central Africa Republic, Cote slowly. Another challenge may concern and reminded them of the organization’s d’lvoire, Egypt, Malawi, Morocco, Nigeria, funding, as more research and technical long partnership with South African Airways Uganda and Zimbabwe. support may be needed. and the Republic of Ghana. He cited this new flight as a tangible example of CCA Regarding the strengthening of a more members’ successes in Africa that included efficient administrative framework across an added benefit for the country. Mr. Hayes borders and addressing customs issues, concluded by stating that this flight will Christian Sambia, representative of Central increase business between the U.S. and Africa Republic, Tax and Customs Expert, West Africa in general, and the Republic of Economic Community of Central African Ghana in particular. States, noted that The World Customs Organization’s Mercator Programme revised Following Mr. Hayes’ welcome remarks, the Kyoto Convention on the simplification Marc Cavaliere, senior vice president, and harmonization of Customs procedures, Americas, at South African Airways which includes a full range of trade renewed his gratitude to the Republic of facilitation measures that form the basis for Ghana and its authorities present at the modern customs operations, which were breakfast for helping make this flight a taken into consideration in the negotiations. reality. He also noted how this direct route The program ensures connectivity at could help increase trades between Ghana with an emphasis on the cargo business. CCA members and AU delegation discussing CFTA borders, along international trade supply chains in order to provide a consolidated Charles Kwame Asare, managing director, Babajide Olumide Sodipo, representative platform for advancing the smooth flow of Ghana Airports Company Limited of Nigeria, Regional Trade Advisor, African goods being traded around the world. commended South African Airways for Union Commission opened the discussion partnering with Ghana and explained that by introducing CFTA as a decision adopted this will reinforce his institution’s drive to by the Assembly of Heads of State and diversify its sources of funding to improve Government of the African Union in 2012. the infrastructure in Ghana. Negotiations for CFTA were launched during the 25th African Union Summit An impressive delegation from Ghana in South Africa in June 2015, with a goal composed of high-level government to complete them by 2017. CFTA would officials was in attendance, including link the economies of 54 countries with senior representatives from the aviation a combined population of more than one sector, the Ghanaian Embassy, and private billion people and a combined GDP of sector businesses, led by Hon. Dzifa Aku more than $3.4 trillion. Attivor, Minister of Transport. The South African Airways delegation was led by Mr. Rashid Kibowa, representative of Uganda, Cavaliere. Director of Trade, East African Community Secretariat, pointed out some challenges and lessons learned from NAFTA and CCA Vice President, Robert Perry and CAFTA.
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