NEPAD Today 02 October 2013
02 October 2013
Lesotho pledge to increase investment in agriculture through CAADP
With the theme “Sustainable Investment in Agriculture – Gateway to Food Security and Prosperity and a Vehicle to Growth,” Lesotho became the thirty fourth country to sign the Comprehensive Africa Agriculture Development Programme (CAADP) Compact. At the signing ceremony in Maseru, on 4 September 2013, different stakeholders pledged to increase investment in Lesotho’s agriculture through the precepts of CAADP.
By signing the Compact, Lesotho has committed to achieving the goal of raising agricultural productivity by six percent and ensuring that ten percent of their budget is allocated to agriculture. Speaking at the event, the Minister of Agriculture and Food Security, Mr Litsoane Litsoane said, “The Lesotho CAADP Compact marks an important milestone in the long journey towards the transformation of the agriculture sector.”
Lesotho has now become the sixth country within the Southern African Development Community (SADC) to sign a Compact, which is an agreement between Ministries of Agriculture and Finance, non-state actors and the private sector on the priorities and strategy for a country’s agricultural development. Read More
Power manufacturers launch energy products in Nigeria
The showcase event for the African power industry opens in Lagos this week (2 October), bringing together headline organisations from Africa and around the world offering related products and services for a booming regional energy sector.
Taking place until 4 October at the Eko Hotel and Suites, Power Nigeria will serve as a comprehensive platform for exhibitors to showcase their wares in the power generation, transmission and distribution, lighting and renewable energy, nuclear energy and water sectors.
Leading the way is the Oman-based manufacturer of power and distribution transformers, Voltamp Energy, which will present their latest range of power transformers extending up to 315 megawatts.
“We’re expanding our product portfolio to further enhance our brand name in the local and African regional power sector,” said Aasit Naik, General Manager of Central Marketing at Voltamp Energy. The power transformers market is growing strongly and Power Nigeria will provide a platform to benefit from this growth while providing an opportunity to diversify our product portfolio.”
Source: informa plc
Nigerian billionaire and AfDB launch $500million Infrastructure fund
AfDB and Made in Africa Foundation (MIAF), which was co-founded by Nigerian billionaire Kola Aluko, and Ghanaian-born fashion designer, Ozwald Boateng, have launched a $500 million fund to co-manage and market initiatives to attract new infrastructural investment for the continent.
The launch which took place at the NASDAQ in New York, was attended by Hollywood actor Jamie Foxx, Head of Infrastructure Finance for the African Development Bank Tas Anvaripour, Quintin Primo III who is the Chairman of the fund’s financial partners, Capri Capital, and MIAF CEO Chris Cleverly.
The fund represents the project development unit of Africa50 – Africa’s largest infrastructure development vehicle created to date – and plans to secure the $500 million by the first half of 2014 with $250 million raised so far.
AfDB which has closed over 40 large infrastructure private sector projects in the past five years, invested $50 million in the fund. Nigerian energy and aviation tycoon, Kola Aluko has also invested $50 million in the fund.
Source: AfDB
Upcoming events (some dates or venue may change)
1. Mining and Power Synergy, 9 October 2013, Fleuve Congo Hotel, Kinshasa, DRC
2. Africa-NEPAD Week at 69th UN General Assembly, 18-25 October 2013
3. 21st Africa Partnership Forum – Dakar, Senegal, 7-8 November 2013
4. Dakar Investment Summit for African Infrastructure, Dakar, Senegal, 5-6 November 2013
5. 5th GEO Health & Environment Community of Practice (CoP), 23-25 July 2013, Washington D.C., USA