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10/5/2015 Africapitalism Institute Newsletter
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Dear *|FNAME|*,
Over the last month, we have beenproducing a series of short essays on localvalue creation as part of the lead up to therelease of our white paper on Local ValueCreation in Africa at the end of March.
Over the last several years, governmentsthroughout Africa have been implementingpolicies that promote local content. InNigeria for example, President GoodluckJonathan signed the local content law forthe nation’s oil and gas industry. Thislegislation encourages indigenous firms to
participate in the industry so that more of the benefits from the country’s naturalresources accrue to the Nigerian people rather than just enrich foreign companiesoperating in the country. The government in Mozambique has also put in placemeasures to promote the local oil and gas industry. Like Nigeria, Mozambique hashuge reserves of gas and explicit measures need to be put in place to ensure thecitizens benefit more from their use.
Also in this issue, new research funded by The Tony Elumelu Foundation andconducted by the African Institution of Technology shows that Africans are findingbetter ways of solving local problems through innovation. The Nigerian Clusters ofInnovation report identifies pockets of innovation that are cropping up around thecountry and includes recommendations for creating ecosystems that sustain andscale these industries.
In Southern and Eastern Africa, the Africa Clean Energy Corridor initiative is workingto transform the continent’s energy mix by promoting the development of clean,indigenous, costeffective renewable power options, taking advantage of Africa’snatural conditions to capitalize on solar, hydro, and wind power as an importantelement in the bridging of Africa’s still vast electric power deficit.
As always, we encourage your feedback.
Sincerely,
David Rice
Director of the Africapitalism Institute
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Encouraging regional integration.
Empowering Nigerian communities by investingin them.
Innovation will unlock the African economy.
The Accelerating Trade inWest Africa ProjectAccelerating Trade in West Africa (ATWA) isa new initiative aiming to establish adurable, multidonor vehicle dedicated toadvancing regional integration, expandingtrade and lowering trade costs along keytrade routes in West Africa.
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Investing in OurCommunitiesNigeria’s oil industry supports thousands ofjobs. The country itself depends on the oilindustry for approximately 95% of exportearnings and 80% of government revenue.But for decades, international oil companiesdominated the fields. The local content lawis quietly changing that. Today, there are anumber of proficient, indigenous companies
breaking into the industry.
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Improving Innovation inAfricaOpportunity is on the rise in Africa. Newresearch, funded by The Tony ElumeluFoundation and conducted by the AfricanInstitution of Technology, shows that withinAfrica, innovation is accelerating and thecontinent is finding better ways of solving
local problems, even as it attracts top technology global brands.
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Mozambique encourages local value creation asa means to economic growth.
Africa must shift focus to industrialise.
Clean energy as the way forward in Africa'senergy sector.
Local Content Review:MozambiqueMozambique’s impending resource boomhas projected the topic of Local Content tocentre stage. Both the Government ofMozambique and the private sector arefocused on establishing an environmentthat is conducive to the development andparticipation of Mozambican businesses andMozambican citizens in the context of
potentially substantial levels of FDI driven by the oil & gas and mining industries.
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Africa Must Shift Focus toIndustrialiseAfrica’s ability to industrialise is hamperedby misguided notions, such as the one thatemphasises adding value to its rawmaterials.Taiwan was once one of theworld’s leading exporters of mushrooms. Itdid not become a global leader in the semi
conductor industry by adding value to mushrooms. Neither did Finland dominate theworld mobile phone market by adding value to wood. Dubai did not become one ofthe world’s leading aviation hubs by adding value to dates.
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Africa Clean EnergyCorridorThe Africa Clean Energy Corridor initiativeaims to transform the continent’s energymix by promoting the development ofclean, indigenous, costeffective renewablepower options. A comprehensive reportfrom the International Renewable EnergyAgency (IRENA) examines the evolving
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infrastructure of Eastern and Southern Africa for the generation and transmission ofelectricity, highlighting challenges and opportunities for the rapid scaleup ofrenewable energy.
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