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Musings From Abroad

Rishi Sunak, President Kagame meet again over UK/Rwanda migration deal

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CRishi Sunak and Rwandan President Paul Kagame met on Monday.

The British government said on Monday, the UK-Rwanda migration partnership raised the need to disrupt the activities of smugglers while addressing humanitarian concerns.

Downing Street said in a statement, “the leaders committed to continue working together to ensure this important partnership is delivered successfully.”

The statement added, the leaders also discussed the escalating violence in the Democratic Republic of Congo and international efforts to support a lasting peaceful resolution to the conflict.

The UK government had reached an agreement with Rwanda in April to deport people who enter the country illegally to the East African country in an exchange deal worth £120 for millions in development aid.

Musings From Abroad

Ivory Coast’s Ouattara becomes IMF executive board member

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Wautabouna Ouattara of Ivory Coast has been appointed as the third director for Sub-Saharan Africa on the executive board of the International Monetary Fund (IMF), which strengthens the region’s influence in policy-making by serving as the lender of last resort.

There are now 25 members of the executive board, which is in charge of the fund’s daily operations, thanks to the new role.

“The addition of a third African chair to our Board reflects the continent’s tremendous progress in developing its human and economic potential,” IMF Managing Director Kristalina Georgieva said in a statement on Friday.

After an election, an additional regional representative was formally appointed to the board, according to the IMF. It is its first expansion since 1992 when the Soviet bloc broke up and two postings were established for the former Soviet Union nations.

Despite having 18% of the world’s population, Africa’s 54 nations—the largest bloc in terms of number among the IMF’s 191 members—only have 6.5% of voting rights. About half of that comes from Sub-Saharan Africa’s vote portion.

A year ago, in Marrakech, Morocco, the new position for the area on the board was unveiled. However, detractors claim that, while the region struggles with debt, it does not adequately meet its requirements.

As nations like Zambia and Ghana restructured their loans and others, like Kenya, looked to the Fund for greater liquidity support because of rising debt interest obligations, the IMF has been playing an increasingly important role in the management of economies in Sub-Saharan Africa in recent years.

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Musings From Abroad

Brazil’s Embraer to invest in Morocco’s aerospace sector

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Morocco’s industry ministry has announced that Brazilian aircraft manufacturer, Embraer, has reached an initial agreement to invest in the country’s defence and civilian aerospace sectors, including the establishment of a maintenance and repair facility.

According to a Moroccan industry insider who asked to remain anonymous, Embraer’s prospects of obtaining a piece of a recent plane acquisition tender issued by Moroccan airline RAM are expected to increase with the new maintenance, repair, and overhaul (MRO) facility.

At the opening of the Marrakech Air Show, where the Embraer transaction was finalised, RAM CEO Abdelhamid Addou stated that the company intends to quadruple its fleet to 200 within the next 14 years to solidify its position as a carrier connecting Africa to Europe and the Americas.

Safran, a manufacturer of aircraft engines, and the Moroccan government inked an agreement Monday to construct an MRO plant valued at 130 million euros ($141.14 million).

To emulate its success in auto production, Morocco’s government has recently promoted aerospace suppliers to invest in the nation by establishing hubs to streamline supply chains and exchange knowledge.

With $2.2 billion in exports last year, the nation’s 147 aerospace industrial units produce everything from cables to sophisticated engine parts, supplying international giants like Boeing and Airbus.

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