Musings From Abroad

Finally, Egypt, Ethiopia, others are new members of BRICS

Published

9 months ago

August 24, 2023

Emerging economies group, BRICS has finally announced the expansion of the bloc after the integration of six new members from January 2024.

The group, which was initially made of Brazil, Russia, India, China, and South Africa at its Summit in Johannesburg, announced on Thursday Argentina, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates are also joining it.

The “historic enlargement” was praised by the president of China, Xi Jinping, who also projected a “radiant future for the Brics.” Beijing, the economic powerhouse of the union, supported this extension, which was the main topic of the 15th summit. The summit began on Tuesday and ends this evening.

A total of forty nations from around the world had either submitted membership applications or showed interest in doing so.

According to the “club of five,” which generates a quarter of global wealth and unites 42% of global population, this is a symptom of the growing power of emerging nations on the international scene.

Leader of newly included states have been commended for their admissions. Ethiopia’s Prime Minister, Abiy Ahmed, regarded Ethiopia’s inclusion as “an important moment” for his country.

“Ethiopia is ready to cooperate with all for an inclusive and prosperous world order”, Ahmed said in a social media post.

United Arab Emirates President, Mohammed ben Zayed stated that his country “respects the vision of the Brics leaders” in expressing support for the deal.

Egypt, which expressed a desire to “make the voice of the countries of the South heard,” stated the same thing.

Related Topics:Argentina BRICS Egypt Ethiopia Featured Iran Saudi Arabia UAE

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Musings From Abroad

Nigeria’s Air Peace accused of safety violation by UK regulator

Published

1 day ago

May 20, 2024

Ifeoluwa Dada

Nigeria’s Civil Aviation Authority has received a letter from the United Kingdom Civil Aviation Authority claiming that Nigerian carrier, Air Peace, had allegedly broken several aviation safety laws.

The allegation comes just three months after the Nigerian airline initiated the Lagos-London route.

“United Kingdom SAFA Ramp Inspection Report with reference number: CAA-UK, -2024-0217” and “NATS Management System Safety Report” were the titles of the CAA’s letter of complaint that was sent to the NCAA. Additionally, the NCAA has written to Air Peace to elucidate the matters at hand.

The letter was labelled “United Kingdom SAFA Ramp Inspection Report” and has the reference number NCAA/DOLTS/APL/Vol.11/03624 on it. Capt. O.O. Lawani, the NCAA General Manager of Operations, signed the document, which had the date May 14, 2024.

The NCAA stated in the letter that the flight captain acknowledged using an electronic flight bag for navigation and that the UK CAA had alerted it to the lack of operational approval for Electronic Flight Bag functions that could compromise the aircraft’s safety.

NCAA added that “no mounting device for the use of EFB, no charging points, or battery for backup” was mentioned in the letter from the CAA.

Air Peace has started flying from Murtala Muhammed International Airport in Lagos to London Gatwick as part of Nigeria and the United Kingdom’s bilateral air services agreement.

As of the time of publication, Stanley Olisa, the Air Peace spokesperson, could not be reached.

Since Air Peace started operating flights from Lagos to London, international airlines including British Airways, Virgin, and others have reduced their fares on the route.

Several industry watchers have urged Nigeria’s government to back Air Peace by opposing ‘aero politics” along the route and taking retaliatory measures to undermine Air Peace’s viability there.

Musings From Abroad

China’s Hailiang, Shinzoom to establish vehicle battery installations in Morocco

Published

5 days ago

May 16, 2024

Ifeoluwa Dada

Hailiang and Shinzoom, Chinese car battery makers, will establish two separate operations in Morocco as the country strives to adapt its burgeoning automotive sector to rising demand for electric vehicles, Moroccan officials announced on Tuesday.

Tanger Tech, the Moroccan northern industrial zone’s development authority, said Hailiang intends to establish a $450 million copper facility on a 30-hectare plot of land. Shinzoom, a subsidiary of Hunan Zhongke, plans to invest $460 million in an anode plant spanning 20 hectares, according to a statement.

In April, the Moroccan government approved Chinese electric battery company BTR New Material Group (835185.BJE)’s plans to build a factory in Tangier to manufacture crucial component cathodes.

Another Chinese firm, CNGR Advanced Material (300919.SZ), plans to develop a cathode plant in Jorf Lasfar, 100 miles south of Casablanca, where the government has set aside 283 hectares for electric battery sectors.

Last year, the Moroccan government and China’s Gotion agreed to examine establishing an electric vehicle battery plant in the country, with a potential investment of up to $6.3 billion. Last month, Industry Minister Ryad Mezzour told Reuters that the Gotion project was moving forward, with conversations over its footprint and location.

Morocco’s strategic location on the Strait of Gibraltar, free trade agreements with important EU and US markets, and existing automotive sector cluster all attract Chinese enterprises.

In 2023, the automotive sector topped Morocco’s industrial exports with $14 billion, a 27% increase. Morocco is home to Stellantis (STLAM.MI) and Renault (RENA.PA) production factories with an annual combined capacity of 700,000 automobiles, as well as a network of local suppliers.