Africa – rich in critical minerals – will accelerate intra-continental trade and harness its natural resources for sustainable development by rolling out effective trade policies, to benefit from the global rush for green energy transition.

With approximately 30% of the world’s mineral reserves, including cobalt, lithium, and nickel, which are considered essential for the green transition, African countries need to exploit these resources to drive its development, particularly trade and industrialization, experts say.

An Expert Group Meeting (EGM) on Africa’s Critical Minerals in the Context of Trade Policy hosted by the African Trade Policy Centre (ATPC) of the United Nations Economic Commission for Africa (ECA) on December 16–17, 2024 in Addis highlighted that Africa already has the right strategies and policies in place to harness its mineral resources. However, what is missing is deliberate action to realise this potential as the continent risks losing the full benefits of these critical minerals to global investors.

Speaking at the opening of the EGM, ECA Deputy Executive Secretary, Antonio Pedro, stressed it was time for Africa to leverage its political and economic integration for development. The continent already has policies to promote the development of its mineral resources.

A resilient and financially empowered city is essential to the country’s broader goals of industrialization, economic transformation, and inclusive, and sustainable growth, says Atkeyelsh Persson, Chief, Urbanization and Development Section, Gender, Poverty and Social Policy Division, of the Economic Commission for Africa.

Persson was speaking on behalf of Sweta Saxena, Director of the Gender, Poverty, and Social Policy Division, ECA at a Senior Officials and Experts Meeting, to review and validate the Financial Performance Assessment Report of Addis Ababa City in Bishoftu, Ethiopia.

ECA organized the meeting in collaboration with UN-Habitat, the UN Capital Development Fund (UNCDF) and the Municipal city of Addis Ababa to offer a valuable opportunity to exchange experiences and lessons learned from Addis Ababa with other African cities.

In the context of the rapidly expanding city of Addis Ababa, she said financial performance assessment is critical for expanding the city’s financial capacity as it helps evaluate financial management, identify areas for improvement, and ensure efficient use of resources.

The Industrial Parks Development Corporation (IPDC) has announced its dedication to increasing the engagement of investors from Fujian province in Ethiopia.

During a meeting with senior officials from Fujian, CEO Fissheha Yitagesu (PhD) emphasized that the IPDC will offer support and undertake monitoring and follow up to ensure greater participation of investors from Fujian in Ethiopia.

To facilitate these investments, the IPDC has established international-standard manufacturing facilities and allocated cultivated land within its Special Economic Zones, complete with various incentives to attract investors.

The CEO assured the delegation of the corporation’s commitment to provide all the necessary support to investors of the province who decide to invest their resources and expertise in Ethiopia.

Huang Wenhui, Vice-Chairman of the Political Consulate of Fujian province and head of the delegation, remarked that Ethiopia’s reforms aimed at attracting foreign direct investment, alongside the transformation of industrial parks into special economic zones, present significant opportunities for Fujian investors. (FBC)

Kenya’s President William Ruto has incorporated even more opposition figures to his cabinet in a move seen as trying to solidifying his hold on power amidst increasing criticism of his administration…[A]nalysts see the inclusion of the opposition as a strategy to address the unpopularity of his government, especially in the key central Kenya region that has become hostile following the recent impeachment of Rigathi Gachagua as deputy president. Anger at Ruto’s government climaxed in June when momentous anti-tax protests erupted, forcing him to retract a controversial finance bill that included more tax increases…Aware of the potential political consequences of Gachagua’s impeachment ahead of the 2027 elections, Ruto last week visited his Kenyatta at his rural Ichaweri home in central Kiambu county. Although Kenyatta said there was nothing out of the ordinary about the meeting, three of his allies were named in Ruto’s cabinet barely 10 days later…Their nomination is seen as Ruto’s strategy to assuage the region that has become hostile to the president and his allies. The president has hardly visited Mt Kenya since Gachagua was ousted…Ruto has also appointed opposition members to head several state agencies, including the revenue department. BBC