African Business - 03-02-2020 - English

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The Best selling Pan-Af r ican Business Maga zine African BUSINESS An IC Publication | 54th Year | N° 470 | February 2020
Features UK woos Africa at agship summit West Africa clashes over currency future Music streamers steal a march on global giants Liberia’s Weah struggles to deliver promises The bank delivering hope to refugees
SPECIAL REPORT US-CHINA TRADE DEAL GIVES HOPE TO AFRICAN MINERS
Walking the tightrope
● ● ● ● ● ● ● ● Euro Zone €5.00 UK £4.00 USA $6.50 Algeria DA 500 Canada $6.50 CFA Zone CFA 2 900 Egypt E£ 60 Ethiopia R 150 Gambia GMD 200 ● ● ● ● ● ● ● ● Ghana GH¢ 20 Kenya KShs 350 Liberia $5 Mauritius MR 150 Morocco Dh 40 Oman OR 2.00 Qatar QR 20 Rwanda RWF 3000 Saudi Arabia Rls 20 Sierra Leone LE 40,000 Singapore $7.50 South Africa R40 (inc. tax) Other Southern African Countries R 35.10 (excl. tax) ● ● ● ● ● ● ● ● ● ● ● ● Sweden SKr 33 Switzerland SFr 8.70 Tanzania TShs 6,500 Tunisia DT 5 Turkey TL 10.000Y UAE Dh 20 Uganda USh 15,000 Zambia ZMW 50
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C O N T E N T S Contents February 2020 Issue Nº 470 www.icpublications.com
Cover story Sudan:Walking the tightrope
Business intelligence 4 News and deals  from around Africa
Cover story 10 Sudan walks the tightrope 14private sector Sudan’s  shows promise
Features 18lies ahead What  for Africa in 2020? 22The View:Is Africa  ready for the AfCFTA? 24West Africa clashes  over single currency 26Second-hand car  market goes digital 29UK woos Africa at  London summit 32 Making the case for trade 36Why Africa needs big ideas 40Africa must listen  to the voice of youth 44Tony Blair’stips for  new presidents 48Bank delivers hope to refugees
50Young leaders focus on refugee challenges 52African music streamers challenge global giants
Special report: Mining 56US-China deal raises hopes for sector
Interview 61Abdillahi Adaweh Sigad,CEO, Doraleh Container Terminal Management  Company
Countryiles 64Challenging child  labour in Malawi 66Liberia’s Weah struggles to deliver promises
Review 72Can the free market be moral?
Last Word 74Freedom of expression under threat in South Africa
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6African BusinessFebruary 2020
Business IntelligenceNews
The chief executive of the continent’s most proîtable carrier, Ethiopian Airlines, has announced plans to start building Africa’s largest airport later this year. The $5bn facility in Bishoftu, southeast of Addis Ababa, will have a capacity of 100m passengers a year, according to Tewolde Gebremariam. The existing Bole International Airport in Addis Ababa has a capacity of about 19m passengers annually.
Moyo appeals Old Mutual court decision Peter Moyo will appeal against the Johannesburg High Court’s ruling that South African înancial services îrm Old Mutual does not have to reinstate him as CEO. Litigation has been ongoing since Moyo was suspended in May 2019 over an alleged conict of interest concerning NMT Capital, a îrm he founded and in which an Old Mutual subsidiary was the only institutional investor at the time of his îring.
Ethiopia to build world’s largest airport
UN: Trade tensions could derail economic recovery The world could see a slight uptick in economic activity in 2020 if risks are kept at bay, according to the UN’s World Economic Situation and Prospects 2020report. Growth of 2.5% in 2020 is possible, but an increase of trade tensions, înancial turmoil, or an escalation of geopolitical tensions could derail a recovery. In a downside scenario, global growth would slow to just 1.8% this year. The global economy suered its lowest growth in a decade in 2019, slipping to 2.3% amid global trade tensions.
Nile countries reach initial deal on Renaissance Dam Egypt, Ethiopia and Sudan have reached a provisional deal for the îlling and operation of the contentious Grand Renaissance Dam. The countries have been locked in a dispute over how much Nile water should be diverted into the Ethiopian dam, which the country wants to use to generate electricity amid Egyptian concerns over water supplies. At a meeting in Washington DC brokered by the US, the three countries agreed that the dam should be îlled in stages during the July to August rainy season.
Below: AU Commission chair Moussa Faki Mahamat (left), Ethiopian prime minister Abiy Ahmed (centre) and Ethiopian Airlines CEO Tewolde Gebremariam (2nd from right) slice a cake to celebrate the inauguration of a new passenger terminal at Addis Ababa Bole airport in 2019.
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