Home 54° Across Africa Kagame woos US investors to Africa | #54DegressAcrossAfrica

Kagame woos US investors to Africa | #54DegressAcrossAfrica

President Paul Kagame, while opening the four-day Corporate Council on Africa (CCA) Leaders Forum, encouraged American investors to take advantage of the economic opportunities that will follow as Africa emerges out of the Covid-19 recovery process for mutual benefit. 

Go deeper: The African Union launched a medical supply platform pooling the procurement of essential health items implemented in partnership with the African private sector, and spearheaded by business magnate Strive Masiyiwa.  

Kagame noted that there is room for American private sector participation in the initiative. An additional opportunity on the continent is to work together in trade especially with the upcoming launch of the African Continental Free Trade Area. 

Authorities continue arrest of people involved in South Africa’s ‘biggest bank robbery’ 

The arrest of municipal officials – reportedly the next in line after the Hawks and National Prosecuting Authority (NPA) arrested eight kingpins last week – will bring the authorities closer to the engine room of the VBS Mutual Bank heist. 

Backstory: Between 2015 and 2018, some 20 municipalities deposited R3.5 billion at VBS and withdrew R2 billion. When the bank crashed in March 2018, there were 15 of these municipalities with a collective R1.5 billion in the bank, all of which they lost. Full story here.  

10 bodies found in mass graves in Libya’s Tarhuna 

The Director of the Department of Search for Remains of the Libyan General Authority for Research and Identification of Missing Persons, Lutfi Al-Misurati Tuesday, said that 10 unidentified bodies have been found inside a mass grave in the city of Tarhuna. 

This further confirms fears that civiians were disproportionately harmed in the sectarian crisis that has enveloped the country in the four years.  

Backstory: Libya’s eastern-based army and the UN-backed government were engaged in a deadly armed conflict for more than a year in and around the capital Tripoli, which ended recently with the UN-backed government announcing taking over all of western Libya after withdrawal of the rival eastern-based army. 

Kenyattadeputy defy austerity measures, spend Sh422m on entertainment  

President Uhuru Kenyatta and his deputy William Ruto raised their entertainment budget by Sh422 million in the nine months to March 2020, defying the government’s austerity drive in the face of a current economic downturn hastened by the Coronavirus pandemic.  

Data from the Controller of Budget shows the Presidency — which comprises the offices of Kenyatta and Dr Ruto — spent Sh1.18 billion on parties and receptions in the period compared to Sh758.2 million spent at a similar period a year earlier. 

Go deeper: Expenditure on hospitality for 71 ministries, State departments and agencies (MDAs) increased 18 per cent to Sh4.5 billion compared to the Sh3.8 billion spent a year before. 

At Sh1.18 billion, the Presidency entertainment budget accounted for a quarter of the Sh4.5 billion that public offices spent on parties and receptions. 

Coronavirus dashboard 

COVID-19 threatens health care in S.Sudan – UN official 

There are now 324,696 reported cases, 8,618 deaths and 154,170 recoveries across Africa.  

Zambia approves $438 million COVID-19 stimulus package

Uganda’s president Monday expressed his frustration with the World Health Organisation (WHO), saying they are not gods and should be modest as they set out guidelines to contain the spread of the coronavirus

Liberia’s education minister is undergoing treatment for Covid-19 as his ministry prepares to reopen schools next week



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