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An interview with Ewadele Butler, Senior Associate, Hogan Lovells US and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing the Better Utilisation of Investments Leading to Development Act, or the BUILD Act, which President Trump signed into law in October 2018. This legislation is set to increase investment into the continent, in a bid to counter the narrative that China’s influence in Africa is rising, while the US falls off with its ‘America first’ approach.
Tension between the two economic giants in the world, China and the United States (US), might have a silver lining for Africa. The administration of president Donald Trump is set to increase investment into the continent, in a bid to counter the narrative that China's influence in Africa is rising, while the US falls off with its 'America first' approach.
If Africa wants to change how it trades with the rest of the world, it needs to start by rethinking how it trades with itself. Without urgent improvement, Africa risks remaining a supplier of solely primary materials to which others add value. But to succeed in moving higher up the global value chain, Africa will first need to develop efficient local and regional supply chains to facilitate higher levels of trade within the continent itself.
The paper Bill of Lading has been the foremost shipping document for centuries, and even today is all pervasive. Around 90% of international trade takes...
"Significant amounts of lost revenue and foreign exchange earnings to the state due to trade misinvoicing (underinvoicing and overinvoicing) have devastating implications for African countries - most of which are commodity dependent,” says Prof Charles Adjasi, head of the Development Finance programmes of the University of Stellenbosch Business School (USB).
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