PACCI Executive Council representatives and 18 non-member business association leaders gathered in Addis Ababa on March 20, 2023, to discuss how to enable SMEs benefit from the AfCFTA and to review PACCI’s performance and strategies for the year 2022.
In his opening speech Mr. Djamel Ghrib, African Union Commission Director of Economic Development, Trade, Industry and Mining said “AfCFTA is one of the 13 flagship projects to achieve 2063. The financial needs of the continent are estimated to USD432 Billion. AfCFTA presents an opportunity to develop the potential of its resources and youth wit

h the market expected to a grow to a GDP of USD15Trillion in 2063.”
The Council observed that Africa is struggling with persistently high levels of unemployment, informality, inequality, and poverty and all of which have been further exacerbated by the COVID-19 pandemic and now by the war in Ukraine. It stated that Africa is facing economic challenges which include uncompetitive business environment, a lack of diversification, a largely informal small and medium enterprise (SME) sector, and limited support for SMEs and entrepreneurs.

The Council noted the efforts made to date by the AfCFTA Secretariat in moving forward the AfCFTA agenda and used the occasion to renew the Chamber’s call for the acceleration of the AfCFTA implementation. It (the Council) insisted that chambers of commerce and other business associations need to push Africa’s policy makers to accelerate the practical impacts of the agreement which has remained rather minimal.
A representative from South Africa urged that African governments do more to put in place a facilitative regulatory framework for export. It is heartening to see, she said, our exporters struggle unnecessarily to get shipments through because of bureaucracies and excessive regulations.

In terms of recommendation, the Council requested PACCI to include in its 2022-2025 strategy a robust campaign for free movement of people and for efficient border security and processing. Recognizing that African chambers of commerce face various chal¬lenges and noting the need to realign the services they provide their members to remain effective advocates of businesses the Council recommended PACCI to mobilize local and international resources to transform African chambers of commerce to innovate in order to remain relevant in the face of new realities.

French charity organization, Bleu Blanc Rouge Foundation launches the second phase of its Wubanchi project named after a girl killed by a drunken man who tried to rape her.
The foundation officially launched the project in a ceremony held March 23, 2023 at the Skylight Hotel in the presence of government officials and partners. As indicated on the launching event, Wubanchi Project is centered on supporting, improving and sustaining the lives of institutionally vulnerable children through community based services and was created directly by Bleu Blanc Rouge Foundation to support young people in and ageing out of the care system.
The project aims to take care of orphans by bringing them together through; building houses with a family setup, education including training, reintegration, and rehabilitation. As a result, the project envisions rebuilding the lives of children into the society by allowing them to become productive citizens with independent lives.
As indicated, the project is titled after the name of a girl named Wubanchi who was a victim of a poor care system, who left her orphanage when she was 15 when it got shut down and manage to live by sponsors together with her two friends. Wubanchi’s life tragically came to an end when she raped and brutally killed in Addis Ababa, seven years ago in 2016, at the tender age of 17.
The foundation has budgeted 206 million birr to implement the project which is said to stay for three years from 2023-2025.
“Wubanchi provides residential homes and wrap-around support to vulnerable young people who came out from orphanages which shut down due to certain reasons in Ethiopia, and provides physical, social, and psychological assistance, as well as education and training,” said Tsedey Tefera, Country Manager of Bleu Blanc Rouge Foundation.
The project will benefit a total of 750 citizens. Out of those 400 will be directly supported by establishing houses with family contents, and the rest will be youths in fostering centers under government institutions.
Bleu Blanc Rouge Foundation has been working in Ethiopia since 2019 after launching its Wubanchi project which supports teenagers who left orphanages and slowly adjusts and inserts the orphans back into society and assist them to be socially and economically independent.

Bringing together projects, technology & financing in Addis Ababa

The AENCon23 Renewable Energy Investment Conference will be held at the Sheraton Hotel in Addis Ababa, Ethiopia from 25-26 April 2023 to engage international financiers and technology providers on renewable energy investment opportunities in Ethiopia and Tanzania.
In partnership with the Ministry of Water and Energy of Ethiopia and the Ministry of Energy of Tanzania and their respective utility companies, African Energy Now is hosting AENCon23 to showcase concrete opportunities in existing and upcoming renewable energy projects, including in solar, wind, hydro and geothermal energy.
According to Moritz Weigel, Executive Director, African Energy Now “AENCon23 will allow participants to gain latest insights into the renewable energy sector of Ethiopia and Tanzania and to engage bilaterally with decision-makers through pre-scheduled 1-on-1 meetings throughout the two conference days. We look forward to welcoming financial institutions and technology providers in the beautiful and vibrant city of Addis Ababa”.
Ethiopia, with a population of 120 million and strong economic growth, has a rapidly increasing demand for electricity. The Government of Ethiopia aims to invest USD 40 billion over the next ten years to expand its hydropower generation capacity, while also increasing power generation from solar, wind and geothermal sources. Ethiopia has undertaken comprehensive reforms to attract investment into its renewable energy sector, including by restructuring its utility companies, introducing a new public-private partnership (PPP)/independent power producers (IPPs) framework, and paving the way for becoming a regional power supplier to neighboring countries as part of the Eastern Africa Power Pool.
Tanzania, with a population of 62 million and steady economic growth, is well endowed with solar, wind, hydro and geothermal energy sources. The Government of Tanzania is committed to the energy transition and entered into a series of new international partnerships for unleashing the country’s vast renewable energy potential. To facilitate investment in the sector, the government has converted debt of its utility companies into equity in a move to strengthen the companies’ balance sheets. At the United Nations Climate Change Conference COP 27 in November 2022, President Samia Suluhu Hassan presented a USD 18 billion investment case for powering the Southern African Power Pool with renewables. Tanzania is part of both the Eastern and the Southern African power pools and therefore holds great potential to serve regional and inter-regional power supplier.
African Energy Now (AEN) is a grant-funded programme that supports African governments to secure financing for investment-ready projects in the renewable energy sector. AEN provides expertise on technical and financial aspects of renewable energy projects and supports investments from the initial engagement of investors up to negotiated terms for financial close.