THE AFRICA MAR/APR 2019 EDITION eJOURNAL A N E W S L E T T E R B Y T H E C O R P O R A T E C O U N C I L O N A F R I C A senior officials from seven agencies. Our I N T H I S I S S U E panels are shaping up well, and we look forward to seeing you in Maputo for what I TEN HEADS OF STATE CONFIRMED TO ATTEND know will be a landmark event. THE U.S-AFRICA BUSINESS SUMMIT IN JUNE - P.2 The Summit is perfectly timed for American and African businesses to meet with A ROUNDTABLE government leaders from across the continent DISCUSSION WITH H.E. to take stock of a number of important JULIUS MAADA BIO, PRESIDENT OF SIERRA PRESIDENT'S MESSAGE events. At the top of the list is the completion BY FLORIZELLE LISER LEONE - P.3 of the ratification process for the African When I wrote to you in February, I Continental Free Trade Agreement (AfCFTA). forecast 2019 would be a busy and On April 29, two states deposited their CCA PRESIDENT AND CEO VISITS NIGERIA AND KENYA productive year. Even I had no idea just ratification instruments, reaching the required AHEAD OF 2019 SUMMIT - how busy it would be. I’m delighted to threshold of 22 to bring AfCFTA into force, P.4 report that, just under 50 days to the which will take place on May 30. This will U.S.-Africa Business Summit to be held make the upcoming meeting of the African As you can tell from this long list of in Maputo on June 18-21, we already Ministers of Trade July 7 in Niamey that much items, African countries are moving have eleven heads of state confirmed more important. Ministers are expected to quickly to lay the groundwork for (from co-hosts Mozambique, Botswana, approve a number of legal instruments that regional and continental economic Equatorial Guinea, Eswatini, Guinea will support AfCFTA’s implementation, integration. We were delighted to host Bissau, Kenya, Malawi, Namibia, including rules of origin, final schedules of a Trade Working Group on April 16 that Rwanda, Zambia, Zimbabwe), as well as tariff concessions for trade in goods, helped unpack some of the details, ministers from a number of countries. proposals to monitor and remove online non- including what the timelines for the next We’re honored that Secretary of tariff barriers, next steps on establishing a year or two look like. As part of our Commerce Wilbur Ross will again lead a digital payments and settlement platform, and panel, we hosted South Africa’s AfCFTA strong U.S. Government delegation to launch of the African Trade Observatory negotiator, Wamkele Mene, who the Summit, as he did in 2017, including Portal. ...continued on page 15 T E N H E A D S O F S T A T E C O N F I R M E D T O A T T E N D T H E U . S - A F R I C A B U S I N E S S S U M M I T I N J U N E King Mswati III H.E. Filipe Nyusi H.E. Paul Kagame H.E. Hage Geingob Kingdom of Eswatini President, Republic of Mozambique President, Republic of Rwanda President, Republic of Namibia H.E. Uhuru Kenyatta H.E. José Mário Vaz H.E. Peter Mutharika H.E. Edgar Lungu President, Republic of Kenya President, Republic of Guinea-Bissau President, Republic of Malawi President, Republic of Zambia H.E. Mokgweetsi Masisi H.E. Emmerson Mnangagwa President, Republic of Botswana President, Republic of Zimbabwe Corporate Council on Africa is honored to announce that the following Summit will engage key U.S. and African government Heads of State are confirmed to attend the 12th U.S.-Africa Business officials and decision makers to discuss their strategies, Summit in Maputo, Mozambique on June 18-21, 2019: King Mswati III, vision and initiatives to facilitate increased business and Kingdom of Eswatini; H.E. Filipe Nyusi, President, Republic of investment. The Summit will provide several opportunities Mozambique; H.E. Paul Kagame, President, Republic of Rwanda; H.E. for business executives to meet heads-of-state, ministers Hage Geingob, President, Republic of Namibia; H.E. Uhuru Kenyatta, and high-level U.S. and African government decision President, Republic of Kenya; H.E. José Mário Vaz, President, Republic makers to advocate for their business interests. of Guinea-Bissau; H.E. Peter Mutharika, President, Republic of Malawi; H.E. Edgar Lungu, President, Republic of Zambia; H.E. The Summit will also serve as a platform for businesses to Mokgweetsi Masisi, President, Republic of Botswana, H.E. Emmerson hear from leading U.S and African industry experts on best Mnangagwa, President, Republic of Zimbabwe. practices in sectors including agribusiness, energy, health, infrastructure, ICT and finance; explore new business and The Summit will bring together more than 1,000 leading U.S. and investment opportunities, meet and network with African private sector executives, international investors, senior potential business partners and obtain real-time leads; and government officials and multilateral stakeholders. Themed advocate to shape effective U.S.-Africa trade and “Advancing a Resilient and Sustainable Partnership”, CCA’s 2019 2 investment policies. A R O U N D T A B L E D I S C U S S I O N W I T H H . E . J U L I U S M A A D A B I O , P R E S I D E N T O F S I E R R A L E O N E From L to R: Florizelle Liser, CCA, H.E. Julius Maada Bio, Sierra H.E. Julius Maada Bio addresses delegates at the private Leone, Jean Boulle, The Boulle Company roundtable discussion On March 11, 2019, Corporate Council on growing techniques to match the average civil war and Ebola, and creating a much Africa (CCA) hosted a roundtable level of other West African producers healthier story of a country that is discussion with the President of Sierra could add another $1 billion per year. In developing the potential of its people. He Leone, Julius Maada Bio. Before President addition, the country is looking to make described programs his government has put Bio spoke, his adviser on Economic and better use of its extensive fishing in place to reduce corruption and make Financial Policy, Joe Demby, provided an resources, a potentially rich area for government more accountable, while also overview of the National Development development and job creation in a sector focusing on the practical issues needed to Plan’s top goals. Simply put, Demby said that has been badly neglected for more create jobs and get the economy moving. President Bio is trying to get his country than a decade. The government is also President Bio explained that he specifically to reach the ranks of Middle Income planning on investing in improved roads came to Boston and Washington as part of Countries. Demby was frank in admitting and ports, which will significantly boost an effort to reach out to American that this would require at least doubling the country’s competitiveness (the three companies to convince them to examine the current GDP of $3.7 billion to reach most productive parts of the country are Sierra Leone’s potential – particularly lower middle income status, and tripling not currently served by national beyond just looking at Freetown, mining and to reach upper middle income status. infrastructure networks). Demby and tourism. Nonetheless, the government has come Deputy Finance Minister Patricia Laverly up with a plan to do that. One of the explained measures the government is The President and his delegation answered a most important targets is increasing implementing to improve laws and number of questions from the audience, revenue from the agricultural sector, regulations to make it easier to invest and including agreeing to follow up with several which employs 90% of the population. trade, while also invest in education to companies that expressed interest in the The government is focusing on the improve the capacity of Sierra Leonean agricultural, construction and financial country’s two largest export earning workers. sectors. The Trade and Development Agency crops, rice and coffee. Reducing the also provided a quick overview of three volume of crops lost between President Bio took the podium and projects it has recently signed in the country harvest and processing or delivery to port explained to the capacity crowd that he is to support several sectors, including off grid below the current 50% level could serious about changing Sierra Leone’s and renewable energy generation. generate $1.2 billion in annual revenue. story from what the international This event took place with the generous Expanding the area under cultivation for community knows now of a country that sponsorship of Jean Raymond Boulle and the these two crops by 25% and upgrading has suffered the ravages of a prolonged Boulle company. 3 C C A P R E S I D E N T A N D C E O V I S I T S N I G E R I A A N D K E N Y A A H E A D O F 2 0 1 9 S U M M I T From L to R: Ms. Carol Karuiki, KEPSA, Ms Florizelle Liser, CCA, Ms. From L to R: Ms. Sonia Mfasoni, CCA, Mr. Kiprono Kittony, KNCCI, Ms. Sonia Mfasoni, CCA Florizelle Liser, CCA Ms.