Mauritania
Continuity in new government
First democratic transition of power
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Côte d'Ivoire is the market that has most rapidly improved its trade growth potential over the past decade, according to new research issued by Standard Chartered.
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His Excellence Sidi Mohamed Mohamed Radhi, Consul General of Mauritania in Las Palmas, Gran Canaria, knows very well how tight are the relations between Spain and his country. Starting in Gran Canaria that has a community of around 3,000 Mauritanians who live, work and invest there and bridging to Mauritania, where investors from Canary Islands are growing by the day. "Spain is the first commercial partner of Mauritania in Europe, but around 75% of that investment comes from the islands", says the Consul. There are agreements with the local authorities and Mauritania in many sectors. Starting with the fisheries, but moving to many different areas, Gran Canaria entrepreneurs have finally understood the potential of Mauritania. "Our priority is health", says the Consul. We need hospitals and medical devices in our country and for that I'm working with renown institutions in the islands like San Roque Hospital. eBizguides Mauritania will portray Mauritania´s business and tourism as a whole including the most attractive sectors to invest and the places to visit and enjoy. It will also profile the top 100 companies and will include interviews with the top decision makers of the country.. The guidebook is set to be published around February 2020 and will be distributed globally.
The tourism sector in Mauritania offers many possibilities for international investors and visitors. With an incredible sea line, the desert and the ancient cities and traditions, Mauritania has everything a country needs to boost tourism. Mohamed Mahmoud, General Director of the National Office of Tourism explains to eBizguides all the treasures of his country. "We are working with international tourism organisations to launch our tourism experiences. We are a safe country with a wild nature that combines all an adventurer wants to find when going on vacations". Although Mauritania is a rich country in natural resources, tourism is one of the most democratic sectors that when developed will be spread to all the local population. That is why the National Office of Tourism is finding the ways to launch Mauritania to the tourism agenda. No doubt that this will happen in less than five years taking into account the speed changes are shaping a new Mauritania. "We need you more than you need us" says Mahmoud. "Our book will help us to launch all our tourism plans internationally". eBizguides Mauritania will portray Mauritania´s business and tourism as a whole including the most attractive sectors to invest and the places to visit and enjoy. It will also profile the top 100 companies and will include interviews with the top decision makers of the country.. The guidebook is set to be published around February 2020 and will be distributed globally.
Mr. Niang Djibril Hamady, General Secretary of the Government of Mauritania with Sidi Mohamed Rahji, Consul of Mauritania in Canary Islands and eBizguides team. The General Secretary of the Government of Mauritania, Mr. Niang Djibril Hamady, explained today to eBizguides team the importance of having our business guidebook published in Mauritania since the lack of information about the country is a major obstacle for international investors when taking decisions. "Having a business guidebook like eBizguides published in Mauritania is a great opportunity to let the world know that we are here to welcome investors and that we are working to make it easy for them to come", said Mr. Hamady. eBizguides Mauritania will portray Mauritania´s economy as a whole including the most attractive sectors to invest. It will also profile the top 100 companies and will include interviews with the top decision makers. The guidebook is set to be published around mid 2020 and will be distributed globally.
The board of directors of the Union National du Patronat Mauritanien with Sidi Mohamed Rahji, Consul of Mauritania in Canary Islands and eBizguides team. "Today Mauritania starts a new beginning" said Mr. El kory Abdel Mola, General Secretary of the Patronal in Mauritania as we walked in his meeting room to talk about business in Mauritania. "From today, he said, we will change forever". This is how Mauritanian´s feel about the new discovery of gas at the Orca-1 well in waters offshore Mauritania that potentially will bring the country´s GDP to historic high rates with the estimated extraction of around 50 trillion cubic feet of gas. No wonder they feel blessed, since Mauritania´s and neighbouring Senegal basins have become a magnet for international investors all over the world. If the country have changed dramatically in the past four years without this breakthrough, we all can imagine how will Mauritania be in the upcoming years. A country with about four million people and double the size of Spain is a land of opportunities for everything. Gas is the trending issue now, but sectors like tourism or real estate are still virgin.
I Premio Saliou Traoré, Gran Canaria, Africa, eBizguides, Casa Africa, EFE, Teresa de la Vega, Augusto Hidalgo, Carmen Darias, Ayuntamiento de las Palmas, Pepe Naranjo
The Spanish Think Tank Institute El Cano recently organised a roundtable with Ecowas vicepresident, Finda Koroma and other Africa related guests and figures, such as South African Ambassador in Spain (left). With an impact in almost 1 billion people, Africa´s single market is now a reality for 52 out of the continent's 55 countries. As one of the world’s largest single markets it has an aggregate GDP of over $2 trillion and the World Economic Forum estimates $4 trillion in spending and investment according to the World Economic Forum. The challenges ahead are enormous, but which is the priority? Our priority is to create a single currency in a peacefully borderless region. The security has worsen on the back of increasing terrorism with almost 30,000 deaths in only four years but ECOWAS forces are ready to repel any terrorist action in the region. Also, 2020 is a year of many changes with 6 presidential elections within ECOWAS member states and 2 or 3 more in 2021. ECOWAS has also set a vision for 2020. What would be the main objectives for next year? We want to create an investment commission and an international court. We are also looking to a single currency market, with free movement of businesses and people in a single continental market. We are working in the harmonisation of statistical methods, inflation target and convergence criteria. But without security, there is no investment. What are the main investment projects ahead for international investors? Most of them have to do with infrastructure and railway access like the West African Corridor. With our single market created, we have now to enhance road transportation, the development of rail, etc.. all for a fast tracking integration. We are also looking at a unified regional electricity market and electricity exchange. We also want to develop ecotourism, which is natural to our continent and has a great potential. How is global warming affecting Africa? What are the consequences? Africa contributes 4% to global greenhouse gases while having the 16% of the world population. However, we are the most affected continent by the climate change which is creating what I call climate refugees . Our State of development goals 2030 includes measures to fight climate change in Africa. You are one of the first African women to reach a top political position. What has been your experience? I'm the first female vice-president of Ecowas but I have counted with an unprecedented support from my colleagues, including all State Presidents.
eBizguides director, Pascal Belda, talks with Sidi Aly, Ambassador of Mauritania in Spain Mauritania has recently held democratic elections resulting in a continuity government, how would you explain the results? in two words: political stability. In recent years, many things have changed in Mauritania. We have a new constitution, a new parliament, a new senate and a new vision of politics. There has been a pacific change of government in a free election where all politicians recognised the new president. However, Mauritania has been one of the hot spots for terrorists in West Africa. How safe is the country nowadays? We haven’t had a terrorist attack since 2010. We took it very seriously. It is the only approach towards stability. We are working from the roots with education, and economical, cultural and social specific actions. So with political stability and safety improvements in the country. How is the economy behaving? That combination of stability and safety has prompted a growing economy and attracted foreign direct investment. What are the benefits Mauritania offers to international investors? We have a liberal economy with double-taxation exemption bilateral agreements. We have started a whole new process for company registration and we have created a one window office to start business in only one week. We also have the Free Zone at Nouadhibou which offers 0% tax. We have a whole new Mauritania. Where are the main business opportunities for international investors? One new and important gas field has recently been discovered. It should be producing by 2022. Other sources are fishery and of course, mining. We have a gold mining Australian company located in the Free Zone. What are the challenges ahead? We are a young country. On the 20th of November 1960 we gained independence from France, but at that time, our government was in Senegal. We had to build our state from scratch. We created a new country XXX with political instability and constant military coups. Now we have integrated all voices in the government, even the extremists. Our economy needs to continue diversifying and modernising.
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SONANGOL LEADS RENEWABLES CONVERSION IN AFRICAREAD MORE
Africa Positive
Mara Group, a Rwandan-based smartphone company, unveiled the Mara X and Mara Z smartphones. The phones carry the pride of being the first handsets manufactured and assembled completely in Africa. Mara Group hopes that the phones are merely the beginning of a tech revolution that will boost Rwanda's economy and standing in the region. Mara Group, a new tech company based in Rwanda, Africa, made history earlier this week by launching the world’s first “Made in Africa” smartphones. While a few select parts of the Mara X and Mara Z were imported, most of the phones’ internals were manufactured and assembled on the continent.
African economies come first and third in the Standard Chartered Trade20 Index, which identifies the markets with the greatest potential for future trade growth. Côte d'Ivoire is the market that has most rapidly improved its trade growth potential over the past decade, according to new research from Standard Chartered. The Trade20 index, which identifies the 20 rising stars of trade, places African markets Côte d'Ivoire in the top spot, and Kenya at number three. The Trade20 index determines each market’s trade growth potential by analysing changes within the last decade across a wide range of variables, grouped into three equally-weighted pillars: economic dynamism, trade readiness and export diversity. The study examines 66 markets around the world. It finds that while existing trade powers like China and India continue to rapidly improve their trade potential, African economies are making particularly strong progress from a relatively low starting point. Kenya is consolidating its position as the trading hub of East Africa, while Côte d'Ivoire is cementing its position as a West African trading hub. Ghana also performs well in the index, placing just outside the top 10. The key findings of the Trade20 index for African markets are: Côte d'Ivoire and Kenya have significantly improved their trade readiness, demonstrating that investments in infrastructure and business environment improvements are paying off. Côte d'Ivoire and Ghana also fare well for economic dynamism, with Côte d'Ivoire enjoying robust GDP and export growth, and Ghana seeing an influx of FDI. Saif Malik, regional co-head, Global Banking, AME, Standard Chartered, said: “Home to some of the world’s fastest-growing economies, Africa has the potential to become a much bigger player on the global trade stage. Already connected with the trading powers in Asia, particularly China, through the Belt and Road Initiative, and with the launch of the African Continental Free Trade Area, we see numerous growth opportunities for trade and investment in the years ahead. Additionally, the growing young, digitally-savvy population and an increasing female workforce will aid in the continent’s economic transformation.” 66 markets Trade20 examines 12 metrics across 66 global markets – the major global economies plus the major economies in each region – to reveal the 20 economies that are most rapidly improving their potential for trade growth. While most traditional trade indices are based on a market’s present performance, the Trade20 index captures changes over time to reveal the markets that have seen the most improvement within the last decade. This enables us to identify the economies where recent positive developments may point to an acceleration in trade growth potential. These markets are identified by measuring changes in 12 metrics under three pillars: economic dynamism (foreign direct investment, export and GDP growth), trade readiness (infrastructure, e-commerce, and ease of doing business) and export diversity (the range of exports). While most traditional trade indices are based on a market’s present performance, our index captures changes over time to reveal the markets that have seen the most improvement during the last decade. A high ranking also suggests a market that is improving as a possible outsourcing location. By Bizcommunity.com
