Connect with us

Business

United States Strategy toward Sub-Saharan Africa vs Chinese Influence in the Democratic Republic of Congo (By Jean-Pierre ALUMBA LUKAMBA)

Published

on

Congo

United States Strategy toward Sub-Saharan Africa vs Chinese Influence in the Democratic Republic of Congo (By Jean-Pierre ALUMBA LUKAMBA)

It is critical that the United States works to rebalance its relations with African countries, especially as the continent undergoes dramatic demographic and economic changes

JOHANNESBURG, South Africa, June 27, 2024/APO Group/ — 

By Jean-Pierre ALUMBA LUKAMBA. Jean-Pierre Alumba Lukamba is the International Executive Director for AFRICAN DIASPORA FOR DEVELOPMENT (http://www.African-Diaspora.org).

U.S. policymakers on both sides of the aisle have grown more anxious about Russia and China influence on the African continent as China/Russia-Africa relations have deepened in a variety of areas, including trade and commercial ties, military-security relations, and technology. However, American policymakers across the political spectrum have not prioritized African countries when it comes to U.S. foreign policy plans. Rather, Washington’s limited focus on Africa has lacked coordination and now is often unsettled by an ill-defined concept of “Chinese/Russia influence.” 

In August 2022, U.S. President Joe Biden launched U.S new Strategy toward Sub-Saharan Africa, but it looks also like another U.S. African strategy business as usually because it’s not talking to the African people. It’s a kind of up – up approach, not as it should be, bottom up approach with more emphasize on American and African people to people solidarity to strengthen the historical ties between the two peoples. 

It is critical that the United States works to rebalance its relations with African countries, especially as the continent undergoes dramatic demographic and economic changes. Africa’s population is expected to double to 2.5 billion by 2050, accounting for more than one-quarter of the global population. In addition, prior to the COVID-19 pandemic, the continent was home to 7 of the world’s 10 fastest-growing economies. As Africa expert Judd Devermont argues, “Every global problem is going to have an African dimension to it.” From climate change and pandemic responses to cyber governance, African countries are sure to play a significant role in the future of global affairs.

U.S. policymakers must realize that if they are unable to advance U.S.-Africa relations in the near future, especially in upcoming U.S – Africa Summit this in December, they will miss a crucial opportunity to participate in a rapidly changing region where American national interests are at stake.

Most importantly, the United States cannot continue to rely solely on a strategy of criticizing Chinese and Russian’s engagement across Africa.

This piece of opinion outlines key facts regarding the DRC that U.S. policymakers need to understand in order to get U.S. Africa-focused policy. Here are some key factors about the DRC:

  • The Democratic Republic of the Congo is the second largest country in Africa. It borders nine countries: Angola, Burundi, the Central African Republic, the Republic of Congo, Rwanda, South Sudan, Tanzania, Uganda, and Zambia;
  • With the population around 100 million, with estimated 74% of youth, the people of the DRC represent over 200 ethnic groups, with nearly 250 languages and dialects spoken throughout the country. Kinshasa, the capital, is the second largest French-speaking city in the world;
  • The DRC is among the most resource-rich countries on the planet, with an abundance of gold, cobalt, Uranium, Diamond, tantalum, tungsten, and tin – all minerals used in electronics such as cell phones and laptops, the country has also hydropower potential, significant arable land, immense biodiversity, and the world’s second-largest rainforest;

The U.S. should support the implementation of the DRC vision as a business land

  • Music is its biggest export;
  • On October 30, 1974, boxer Muhammad Ali, nicknamed “The Greatest,” reclaimed the word heavyweight title by winning the “Rumble in the Jungle” against George Foreman in Kinshasa, Zaire (now the Democratic Republic of the Congo);
  • Former NBA All-Star Dikembe Mutombo was born in the Democratic Republic of the Congo. In 1997, he founded a humanitarian foundation to improve the health, education and quality of life for the people in the DRC;
  • DRC is one of the most important countries in Africa for biodiversity conservation. More than 81 million people live here — as do a number of spectacular endemic species like the okapi, Grauer’s gorilla, bonobo, and Congo peacock along with over 400 other species of mammals, over 1,000 bird species, over 400 fish species, and over 10,000 species of plants;

In the DRC, only 1.8% of existing roads are tarred and less than 10% of the population has access to electricity today. Recently there have been pushes to improve, including the announcement of  $1 billion package from the World Bank for infrastructure development;

In view of the above, it can be seen that the DRC can easily offer business opportunities in the following sectors:

  • Agribusiness;
  • Infrastructure development;
  • Energy, water and sanitation;
  • Waste Management;
  • Property development;
  • Banking;
  • Insurance;
  • Media;
  • Clothing;
  • Food and beverage;
  • Education;
  • Health;
  • Hospitality industry;
  • Tourism;
  • Manufacturing industry;
  • Public transport;
  • Ports and airports;
  • Petrol and gas;
  • Mining.

These business opportunities between the United States and the DRC can only be possible through the existence of a responsible leadership in the DRC. This will enable respect of human rights, democracy, good governance, social well-being, open society, peace and security, trade and investment, development and excellent business climate.

Currently the country is plagued by corruption, embezzlement of public funds, mismanagement squanders natural resources, food insecurity, bad governance, abuse of human rights, destruction of fauna and flora by the Chinese, lack of adequate public infrastructure, poverty, lack of development vision as well as security conflicts with certain neighboring countries. Added to this is the 2023 chaotic election which created a lot questions regarding the legitimacy of the current DRC regime.

However the U.S. administration and CSOs can work together with the Congolese people through the CSOs and FBOs to change the current situation for the betterment of both people and pave the way for peace, stability and development in the DRC.

Recommendations

  • US to have a significant discussions with the DRC current regime in considering peace talks with the current main Congolese armed group the Alliance Fleuve Congo “AFC” lead by Corneille NANGAA;
  • US officials to distance themselves from the DRC officials involved in organizing the country 2023 chaotic elections including all who are involved in systemic corruption, hate speeches, state crimes, serious abuse of human rights and the leaders of the urban militia group called Forces du Progrès operating mainly in Kinshasa;
  • US to identify and work with new emerging potential visionary leaders in the DRC for peace, stability and the development of the DRC and the Great Lakes Region of Africa;
  • To encourage U.S. companies and CSOs to invest and implement projects in the following sectors : economy, Health, Education, Tourism and Agribusiness;
  • To promote  sport and cultural exchange projects between U.S. and Congolese citizens;

CONCLUSION

What facilitates the Russian and Chinese influence in the DRC is the ease in obtaining visa as well as the numerous scholarships that these countries grant to Congolese, especially to young people. If the U.S. wants to maintain and guaranty his ties with the DRC, the U.S. policies and decisions makers should take into account the above strategy used by Russian and Chinese emphasizing sustainable development, human right, social well-being of the population, youth entrepreneurship and open society.

The U.S. should support the implementation of the DRC vision as a business land.

Distributed by APO Group on behalf of African Diaspora for Development (ADD).

Business

African Development Bank Partners with Interpol to Combat Financial Crime and Strengthen Anti-Corruption Efforts in Africa

Published

on

African Development Bank

According to Interpol’s 2024 Global Financial Fraud Assessment, business email compromise, romance baiting, phishing, and other online frauds pose growing threats to Africa’s digitalized economy

ABIDJAN, Ivory Coast, February 21, 2025/APO Group/ –The African Development Bank Group (www.AfDB.org) has taken a significant step forward in its fight against corruption and financial crime by signing a Letter of Intent with the International Criminal Police Organization (Interpol) today. The Bank Group is the first multilateral development bank to establish such a collaboration with Interpol.

The Letter of Intent was signed on Wednesday by African Development Bank Group President Dr. Akinwumi Adesina and Interpol Secretary General Valdecy Urquiza, who visited the Bank’s headquarters in Abidjan.

The partnership will enhance collaboration between the Bank’s Office of Integrity and Anti-Corruption (https://apo-opa.co/3QrB4ku) and Interpol’s Financial Crime and Anti-Corruption Centre. It will focus on sharing expertise, enhancing investigative capabilities, and developing preventive measures against emerging financial crime threats, including cybercrime, anti-corruption measures, and counter-terrorism financing.

This initiative comes as Africa faces significant challenges of illicit financial flows, estimated at nearly $90 billion annually—a loss of resources that could otherwise be invested in critical development needs including water, sanitation, health, food, and energy infrastructure.

As an institution that deploys approximately $10 billion annually in development financing, with the majority going to government projects, the African Development Bank Group brings crucial insight into regional financial flows and development challenges, Adesina said.

Corruption and financial crime are among the biggest obstacles to economic and social development in Africa and around the world

“This partnership demonstrates our commitment to protecting development resources and ensuring they reach their intended beneficiaries,” said Adesina. “As the world’s most transparent financial institution for two consecutive editions (https://apo-opa.co/41o3TVt) [according to Publish What You Fund’s assessment of sovereign portfolios], we maintain zero tolerance for corruption and terrorism financing. By joining forces with Interpol, we are strengthening our capacity to help African countries build robust systems against money laundering and financial crime.”

Rapid advancements in digital technology have also led to an increase in internet-enabled financial crimes. According to Interpol’s 2024 Global Financial Fraud Assessment, business email compromise, romance baiting, phishing, and other online frauds pose growing threats to Africa’s digitalized economy.

Secretary General Urquiza, who was elected to his position in November 2024, said, “Corruption and financial crime are among the biggest obstacles to economic and social development in Africa and around the world. The evolving nature of financial crime, particularly in the digital environment, requires strong partnerships between law enforcement and financial institutions. Interpol’s closer relationship with the African Development Bank Group will help law enforcement agencies and financial institutions across Africa tackle increasingly sophisticated financial crime threats.”

Adesina said the Bank will continue to tackle these challenges by:

  • Building capacity and supporting African countries in strengthening transparent and accountable governance and strong institutions capable of driving inclusive and sustainable growth and resilient economies.
  • Strengthening Know Your Customer and Due Diligence systems to prevent and to fight fraud and corruption.
  • Ensure that the Bank’s resources are used for their intended purposes in a transparent and accountable manner, a practice that has led to the Bank being recognized for two consecutive editions as the most transparent multilateral development bank in the world by Publish What You Fund.

The high-level Interpol delegation that accompanied Secretary General Urquiza included Mr. Silvino Schlickmann, Director of Governance and Ms. Paule Ouedraogo, Head of Interpol’s Regional Bureau.

The African Development Bank Group was represented by members of President Adesina’s senior management team including the director of the Office of Integrity and Anti-Corruption, Ms. Paula da Costa.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Continue Reading

Business

World-leading Crypto Event Launches APAC’s Largest Debut with Consensus Hong Kong 2025

Published

on

Blockchain

Over 350 side events transformed mega digital assets event to mega festivities
HONG KONG SAR – Media OutReach Newswire – 21 February 2025 – Regarded as the “Super Bowl of Blockchain” and “the World Cup of Web3”, Consensus, the most influential and longest-running event of the crypto world, picked Hong Kong as a destination to expand beyond North America, with a record-setting debut of nearly 10,000 from over 100 countries and regions converging at the Hong Kong Convention and Exhibition Centre from 18-20 February.

Phoebe Shing, Director, Business Development Team Lead, MICE • MICE-Business Development of the Hong Kong Tourism Board (HKTB), said, “The tremendous success of Consensus’s Hong Kong debut marked the city as one of the most conducive destinations to expand the global footprint of proven events. More than a world’s meeting place, Hong Kong is also a super-connector in the world of finance, innovation and technology (I&T) and global cultures. This mega crypto event also puts Hong Kong on the forefront of accelerating the region’s advancement, while generating high-yield tourism spending and business activities to fuel Hong Kong’s economy.”

A convergence of who’s who in the world of blockchain, digital assets and web3

Asia’s top financial policymakers, crypto thought-leaders and investors shared the main stage with Mainland and world pioneers in blockchain, digital assets and web3 fields, defining what’s next and mapping the way forward for greater impact. The cast of stellar speakers notably included Richard Teng, CEO of Binance, the largest crypto exchange by trading volume; Adam Back, CEO and co-founder of Blockstream, a global leader in Bitcoin and blockchain technologies; Yat Siu, Co-Founder & Chairman Animoca Brands, a global leader in blockchain and gaming; Hong Fang, President of OKX, a leading Web3 technology company and leading crypto exchange, and many more.

Sara Stratoberdha, CEO of CoinDesk said, “Consensus has been running for over 10 years and is one of the longest-running and comprehensive digital assets events in the world. Hong Kong, a Fintech hub in Asia serves as a global center for crypto and web3 technologies, with favourable policies and a large pool of talent for blockchain, digital assets and web3 to thrive. We are thrilled to see that over 75% of attendees are coming from outside Hong Kong. A truly international event! The city has proven the ideal choice for expanding Consensus beyond North America.”

A strong line-up of over 350 side events, delivering huge commercial value

Consensus Hong Kong 2025 was embellished with more than 350 side events, giving the energetic global crypto community diverse opportunities to showcase their expertise, create and renew partnerships and party to the heart’s content.

Michael Lau, Chairman of Consensus Hong Kong, added, “The scale of the inaugural Hong Kong event has surpassed our expectations, with nearly 10,000 attendees and what truly surprised us is that the community and industry were eager to participate and the fact that we ended up hosting over 350 side events is a strong testament to Hong Kong as a leading global FinTech hub where we have a vibrant ecosystem, entrepreneurial spirits, innovative cultures that nowhere else can replicate. I am also appreciative of the support from the HKTB in securing the event for the city I call home.”

Transforming business events into mega festivals

Consensus Hong Kong also spectacularly transformed a leading business event into a mega festival, kicking off with its Opening Party – Rooftop Revelry, held at Cloud 39, the ultra-luxury rooftop ballroom of iconic landmark in Central The Henderson that set the tone for the event’s sophisticated networking occasions. Action continued all the way to its long-established tradition of Music Festival and Crypto Fight Night, extending to Hong Kong’s unique horse-racing and night party at Lan Kwai Fong. The conference concluded with a bang with the Consensus Closing Party in Lan Kwai Fong, where participants were treated to an open bar, live music and fun networking.

Brad Spies, Vice President of Consensus, said, “Hong Kong has a long legacy of finance, banking and some of the deepest capital markets in the world; but it’s also such a vibrant and diverse city with the best restaurants, fantastic venues and unique experiences. The city simply fulfilled the promises of delivering the best of business and fun. Hong Kong is such a world-class city for people to come and transform business events into mega festivals.”

Continue Reading

Business

Saudi Arabia Expands Energy Ties with Africa: A Look at Key Investments, Partnerships

Published

on

Following Saudi Arabia’s latest energy efficiency cooperation agreement with Egypt, the African Energy Week: Invest in African Energies 2025 conference will provide a vital platform to accelerate partnerships and secure new deals between Saudi Arabia and African countries

CAPE TOWN, South Africa, February 21, 2025/APO Group/ –Earlier this week, Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and Saudi Arabia’s Minister of Energy Abdulaziz bin Salman Al Saud signed an agreement to develop an executive plan for energy efficiency cooperation, strengthening bilateral ties in the energy sector and fostering sustainable development. This follows another significant development in September, in which Egyptian Prime Minister Mostafa Madbouly secured a $5 billion pledge from Saudi Arabia’s PIF, representing the “first phase” of a larger investment strategy.

As a leading global energy giant, Saudi Arabia has been actively investing in Africa’s energy sector, aiming to expand its energy reserves, advance energy diplomacy and compete with other global superpowers. This strategic push not only strengthens Saudi Arabia’s influence in the region, but also paves the way for deeper economic and political ties with African nations.

To date, the lion’s share of investment in Africa’s energy sector has focused on clean energy advancements. With total project costs reaching $7 billion across the continent, Saudi developer ACWA Power stands as the leading private-sector investor in African renewable energy. In October 2024, the company announced that its Redstone solar plant in South Africa was set to achieve its full 100 MW capacity, while its Kom Ombo solar PV plant in Egypt successfully reached its full capacity of 200 MW. ACWA Power is also leading Project DAO, South Africa’s largest hybrid renewable power plant, with an $800 million investment. The project is expected to come online by 2026 and aligns with the Kingdom’s broader Vision 2030 goals.

In addition to renewable energy, Saudi Arabia is diversifying its investments to secure critical minerals for clean energy technologies. In October, Saudi Arabia’s Manara Minerals, a joint venture between Ma’aden and the Public Investment Fund (PIF), entered advanced talks to acquire a minority stake in First Quantum Minerals’ Zambian copper and nickel assets. The potential investment, valued between $1.5 billion and $2 billion, underscores Saudi Arabia’s strategy to secure critical minerals that are vital for the global clean energy transition.

Turning to broader regional commitments, Saudi Arabia’s financial support for Africa’s energy infrastructure has grown. In October, the Kingdom announced a major funding initiative, pledging at least $41 billion for sub-Saharan African nations. This includes $1 billion for development, $5 billion for startups, $10 billion in financing from the Saudi Export-Import Bank and $25 billion in private sector investments over the next decade.

Meanwhile, the Saudi Ministry of Energy has established the “Empowering Africa” initiative as part of its broader commitment to supporting sustainable development across the continent. In collaboration with the Ministries of Communications and Information Technology and Health, the initiative aims to deliver clean energy, connectivity, e-health and e-learning solutions to enhance lives and promote long-term growth in Africa. Building upon the Clean Fuel Solutions for Cooking Program, it focuses on providing cleaner cooking solutions to vulnerable populations, aiming to reduce reliance on traditional biomass fuels and improve health outcomes for millions of households. Minister bin Salman Al Saud has emphasized energy as a fundamental human right and is spearheading efforts to improve access to clean cooking technologies across the continent.

Additionally, state-owned petroleum company Saudi Aramco is strengthening its partnerships with African nations to support energy investments and mobilization. These collaborations are expected to drive infrastructure development, enhance oil and gas production capacity and facilitate knowledge transfer between Saudi and African energy stakeholders, while aligning with broader energy security and sustainability goals.

In the multilateral arena, the African Energy Chamber is working with Saudi Arabia to support South Africa’s G20 energy investments and mobilization. This partnership is set to facilitate greater financing and policy coordination, ensuring Africa’s energy priorities are well-represented in global energy discussions. The upcoming African Energy Week: Invest in African Energies conference in Cape Town serves as a key platform to facilitate and support these investments, bringing together Saudi stakeholders, African governments and global energy leaders to advance new projects, strengthen partnerships and accelerate the continent’s energy transition. These collaborations are essential in addressing energy challenges, driving economic growth and fostering long-term sustainability. As Saudi investments expand – alongside those of other G20 nations – their impact on Africa’s energy landscape will only deepen.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event. 

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Trending