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Pan African Chamber of Commerce and Industry (PACCI) Press Release April 10-11, 2016

27 April 2016
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The Pan African Chamber of Commerce and Industry (PACCI)

Executive Council Meets in Addis Ababa, Ethiopia

 

 April 12, 2016 – Addis Ababa, Ethiopia - The Executive Council of the Pan African Chamber of Commerce and Industry (PACCI) held its 9th Executive Council Meeting in Addis Ababa, Ethiopia on 10-11 April 2016.   

PACCI represents business communities, Chambers of Commerce and Industry, and other business support organizations in Africa. Membres of the Executive Council include: Chambre Algérienne de Commerce et d'Industrie, Fédération des Chambres de Commerce et d'Industrie et de Services du Maroc– Khémisset, Chambre de Commerce et d'Industrie Inde-Congo (C.C.I/I.C), Chambre de Commerce, d'Industrie, d'Agriculture et des Metiers de Brazzaville, Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA), Chambre Fédérale de Commerce et d'Industrie de Burundi (CFCIB), Ghana National Chamber of Commerce and Industry, Nigerian Association of Chambers of Commerce Industry Mines and Agriculture, Seychelles Chamber of Commerce and Industry, Zimbabwe National Chamber of Commerce. The Council is currently chaired by Dr. Appiagyei Dankawoso of the Ghana Chamber of Commerce and Industry, for the term 2014-2016.

The 2016 executive council discussed PACCI’s activities and finances for the year 2015 and reviewed progress and priorities for the next five years (2016-2020). Council members stressed the need to promote aggressive information campaign in support of the Continental Free Trade Area (CFTA) in Africa. It directed the Executive Director of PACCI to foster closer cooperation between the African Union Commission and PACCI in order to coordinate private sector’s perspective on the role of the CFTA integration process and in overcoming obstacles to intra-regional trade. The Council also recommended the PACCI Secretariat to develop closer coordination with regional economic communities and the private sector representatives in the sub regions. The First Vice President of PACCI and the President of Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA), Mr. Solomon Afework noted during the meeting that the private sector is a key partner in making the Free Trade Area a success and that its involvement in the entire process is critical and essential.     

The Council further made a number of recommendations, such as:

  • Improving coordination and the sharing of information between African Chambers of commerce to help drive long-term growth and development;
  • Building partnerships between African national chambers of commerce and regional development organizations in order to promote trade and investment to realize the continent’s maximum long-term economic potential;
  • Building fruitful relationships with regional economic communities such as ECA, ECOWAS, SADC to promote economic growth, and job creation;
  • Developing and strengthening PACCI to become an effective voice of business for enhanced continental cooperation and integration

Assessing the latest economic trends and challenges, PACCI Executive Director, Mr. Kebour Ghenna, said that growth according to the World Bank in Sub-Saharan Africa declined to 3% in 2015 from 4.5% in 2014, due to low commodity prices, weak global growth, rising borrowing costs, and adverse domestic developments in many countries.  The slowdown, according to the World Bank, was especially sharp in the region’s largest commodity exporters  But there were some bright spots, such as Côte d’Ivoire, which continued to experience robust, broad-based growth, supported by rising investment, and Kenya and Rwanda, where growth remained strong, helped by infrastructure spending, strong consumer demand, and a growing service sector.  He said that African businesses need a confidence boost and that government should act to minimize uncertainty and boost opportunity. 

Finally the Meeting thanked the Trade and Industry Division and the Economic Affairs Division of the African Union for their precious support to strengthen the Pan African Chamber of Commerce and Industry (PACCI).   

For more information or to speak to an expert from PACCI about this matter please contact Mr. Leul Wondemeneh, Program Manager at This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • Intra-African Trade Gets $1 Billion Push

    Intra-African Trade Gets $1 Billion Push

    The African Export-Import Bank (Afreximbank) and the Export Credit Insurance Corporation of South Africa SOC Limited (ECIC), yesterday, Johannesburg, unveiled a $1billion financing programme to promote and expand trade and investments between the country and the rest of Africa.

    The financing, under the South African-Africa Trade and Investment Promotion Programme (SATIPP), Afreximbank and ECIC will work together to identify, prepare and appraise trade transactions and projects.They will also explore co-financing and risk-sharing opportunities, as well as share knowledge, with particular emphasis on intra-African trade matters, through technical cooperation, staff exchange, research and joint events.

    This is coming few weeks after the continent's largest trade bank, reiterated its cooperation with Nigeria's quest for development and offered to arrange financing of up to $1 billion to support investments in trade enabling infrastructure.The pan-African multilateral lender said that its facilities had made major impact on critical sectors of the Nigerian economy, while the institution now has loans outstanding of about $3.5 billion in the country as at 31 December 2017.

    The bank identified the benefiting sectors of its to include financial institutions, transport, hospitality, manufacturing, agro-allied, oil and gas, power, and telecommunications.But addressing the business community, media and stakeholders from the public and private sectors, the President of Afreximbank, Dr. Benedict Oramah, said that the joint initiative would support businesses through capacity building and market information initiatives and would help small and medium-sized entrepreneurs to join regional supply chains.

    It would also provide advisory services and guarantees to South African investors seeking trade and investment opportunities in Afreximbank's regional member countries.According to him, the initiative provides a platform for the realisation of Afreximbank's strategic objectives in line with its strategy- Impact 2021: Africa Transformed, which prioritises intra-African trade, industrialisation and export manufacturing.

    The Chief Executive Officer of ECIC, Kutoane Kutoane, said: "We realise that one of the best ways to enhance our exporting capabilities as a country is by intensifying mutually beneficial trade with the rest of the continent." Today, Afreximbank commenced its yearly general meetings in Abuja, slated for July 11 to 14, while it also has the Intra-African Trade Fair in Cairo slated for December 11 to 17, in efforts to promote trade among African countries.

    Oramah said the trade fair, being promoted in collaboration with the African Union and the Egyptian government, would be the continent's single largest trade fair and the first of its kind.It will feature a seven-day trade show where Nigerian businesses could join others to showcase their capital goods and service offerings to a large market, including private sector corporates and government institutions from up to 55 African countries.

    Read the original article on Guardian.
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The Pan African Chamber of Commerce and Industry was established in 2009 by 35 founding national business chambers to influence government policy and create a better operating environment for business.

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