Category: News

Adapting to the Impacts of Climate Change

  • 18th November, 2022
  • 6 min reading

We tend to think of climate change as something that will happen at some point in the future. In fact, the effects of climate change are being felt already, and will continue to increase over time, with the potential for significant step changes in global weather patterns as climate warming continues to accelerate.

Global temperatures have already risen 1.1 degrees above pre-industrial levels, causing observable changes in weather patterns around the globe, resulting in loss of life, loss of property, political instability, displacement of populations, disruptions to ecosystems, loss of biodiversity, threats to global food supplies, and a host of other significant repercussions. Some of the observable events that are already occurring as a result of climate change include:

  • Drought – In 2012, the NOAA reported that about 33 percent of the contiguous US was affected by severe to extreme drought. In parts of the west scientists speculate that “megadrought” conditions are taking hold.
  • Flooding – So far in 2022, above average rainfall and devastating flooding have affected more than 5 million people in 19 countries across West and Central Africa. Severe floods across Pakistan beginning in June 2022 caused by above average monsoon rains and melting glaciers have killed more that 1,700 people and caused estimated damages of more that US $30 billion.
  • Wildfires – Since 2012, the US has averaged 49,303 wildfires per year, affecting 6,795,763 acres. So far in 2022, there have been 60,647 wildfires, affecting 7,227,371 acres. In Europe this past summer (June 4 – September 3), a prolonged heat wave and dry spell resulted in wildfires that burned a total of 508,260 hectares, compared with the 2006-2021 average of 215,548 hectares for the same summer period. And in Brazil, the National Institute for Space Research registered 31,513 fire alerts in the Amazon for the first 30 days of August, making it the worst August since 2010. 
  • Heatwaves – 2022 began with record heatwaves in the summer season in the southern hemisphere. Argentina experienced an historic heatwave that saw the country hit near record-high temperatures, which for a period made the country the hottest spot on the planet. This was followed by record heat waves in the summer in the northern hemisphere. NASA data indicated that the period from June to August 2022 tied with 2020 for the warmest summer worldwide since record keeping began in 1880.
  • Tropical Cyclones – The emerging scientific consensus is that global warming is likely not making tropical cyclones more frequent, but is increasing the intensity and strength of storms, resulting in greater damage. Rising ocean surface temperatures are increasing the strength of storms, and flooding caused by tropical cyclones is being made worse by rising sea levels.
  • Loss of glacial ice – scientists fear that a future is rapidly approaching where the more than 1 billion people who depend on glacial melt for water will be forced to find alternative sources of water. New satellite technology used to measure glacial depth indicates that glaciers may contain as much as 20 percent less water than previously thought. And as glaciers melt more rapidly, they can result in catastrophic flooding, rendering useless the water that they do contain, and further disrupting populations and agriculture.

How will we adapt to a rapidly changing climate

All of these issues post a range of serious challenges to global health, infrastructure, business and industry, the built environment, and perhaps most importantly, agriculture and food security. The adaptation requirements for each country vary based on the specific climate change related impact, whether droughts, flooding, tropical cyclones, or other climate change induced impacts.

The thematic day for Saturday November 12 was adaptation to climate change, with a particular focus on adaptive agriculture. The adaptation of agriculture value chains to climate change is an immensely important and yet complex topic, given the incredible variability of climes, agricultural systems, and topographies around the world. But at the root, all agriculture systems must adapt to provide populations with sufficient nutrition using increasingly scarce resources, primarily water.

What is Adaptive Agriculture?

The goal of adaptive agriculture is to help farmers focus on sustainable crops and growing methods that will deliver maximum nutritional value while addressing the impacts of climate change. A number of new initiatives focused on adaptive agriculture were introduced at COP27. The goal of these initiatives is to decrease food insecurity, protect the livelihoods of farmers, and generally build more resilience into global agriculture systems. Some of the areas that adaptive agriculture looks at include:

  • Soil quality and soil health – adaptive agriculture looks at crop mix, farming techniques, water use, and the use of additives in order to maintain the healthiest possible levels of soil.
  • Crop mix – the crops that are grown impact water consumption, adaptiveness of crops to temperature variations, impact of specific crops on soil (nutrient extraction), provision of nutrition, and overall sustainability to ensure that the most appropriate mix of crops are grown. In particular, this leads to a focus on native plant species, which are generally more resilient to variations in local weather patterns.
  • Water conservation – one of the most damaging – and unpredictable – elements of climate change is the impact on water supplies. Climate change is causing loss of seasonal ice melt, changes in rainfall patterns (extended periods of drought, and paradoxically, periods of intense rainfall), and loss of groundwater reserves.
  • Other agriculture inputs – adaptive agriculture seeks to minimize the need for other inputs, including fertilizers, herbicides and insecticides. By focusing on organic farming techniques, the goal is to develop more resilient crop varieties that can better withstand the impacts of climate change.
  • Business models – new technologies and approaches to agriculture – for example, greenhouse-based urban farms that use aquaponics to grow vegetables for local populations – reduce food waste, increase food security for local populations, minimize the impact on scarce resources, and help create employment opportunities. Adaptive agriculture encourages innovations in business models to deliver more sustainable agriculture systems, particularly for the poorest parts of the world.

Key initiatives discussed at the adaptive agriculture session

The theme day on Adaptation and Agriculture covered a range of topics and included the launch of several key initiatives intended to help countries deal with the threats that climate change poses to food security from disruptions to agriculture value chains. Some of the key topics and initiatives included the following:

FAST – Food and Agriculture for Sustainable Transformation Initiative
This session featured the official launch of the COP27 FAST initiative, which aims to increase climate finance contributions for agriculture and food systems. The initiative aims to do this by targeting the most vulnerable countries.

iCAN – Initiative on Climate Action & Nutrition
This session featured discussions on developing a multi-stakeholder, multi-sectoral initiative intended to help foster collaboration and accelerate transformative action while addressing the critical nexus of health, nutrition and climate change, and accelerating implementation in areas that reduce stunting, reduce wasting, reduce anemia among many other risks. The ultimate objective is to raise international awareness on malnutrition and urge state & non-state actors to act by pledging increased investment and support.

Climate Responses for Sustaining Peace (CRSP) Initiative Official Launch
The session evaluates the confluence of conflict, climate change, natural disasters, and environmental degradation, which pose a growing and pressing challenge, further spurring insecurity and vulnerability, as well as exacerbating existing fragilities across the globe.

“Shaping the way forward on Adaptation Action and Support”
A ministerial session on how to further capture progress on adaptation, including specific measures such as developing a comprehensive monitoring process, raising additional funds for adaptation initiatives, and support needed for NAPS development.

How to avert, minimize, and address Loss and Damage to infrastructure (Focus on Early Action and Early Warning Systems)
This session highlighted the role of Al and data analytics in early warning systems in reducing the aftermath of droughts and floods in countries exposed to climate change. Additionally, a key objective will be to raise additional funds for the development of EWS in developing countries.

Adaptation Technologies
Adaptation is in dire need for practical and implementable solutions and technologies that can be easily transferred to the developing world. From innovations around infectious diseases, to safeguarding against floods, insurance tools and capitalizing on progress in sensor technologies, this session will shed light on how technology can better serve us in adapting to climate change.

“From Malabo to Sharm ElSheikh”: Enhancing climate resilience and agriculture sustainability to attain food security in Africa
This session aims to shed light on the measures taken in African and Arab Countries since the 2014 Malabo Declaration which is considered a re-commitment to the Comprehensive Africa Agriculture Development Programme (CAADP) principles adopted by AU Heads of State and Government to provide effective leadership for the attainment of its goals by the year 2025, including ending hunger, tripling intra-African trade in agricultural goods and services, enhancing resilience of livelihoods and production systems, and ensuring that agriculture contributes significantly to poverty reduction.

Innovative tools by the private sector in Agriculture and Food Systems
The session aims to discuss the role of technological innovation within the domain of climate smart-agriculture and food initiatives with a focus on delivery of investment in innovative technologies through highlighting the role of the private sector and the multinational telecommunications companies in that sphere.

Finance for Climate Smart Agriculture and De-risking the Agriculture Sector
The session discussed ways of increasing investments for Climate Smart Agriculture and de-risking schemes of how to promote rural and agricultural finance, in order to find ways to increase affordable finance for smallholder farmers.

Food Security, Nutrition and Climate Change
The goal of the session was to discuss the current state of Food Security and Nutrition in developing countries, presenting key scientific findings; discussing methods of action and support; and scaling up cost-effective interventions and programs, and attracting additional funds for bilateral and multilateral initiatives.

In our next posting, we will discuss the challenges we are facing in meeting our targets for reducing greenhouse emissions and try to better understand some of the actions that have been proposed at COP27 to mitigate further releases of GHG into the atmosphere. Let us know your thoughts on any of the topics we’ve discussed, or anything else that has taken place at COP27.

Brent Barnette is a Non-Executive Director with ETK. He helps lead our focus on issues relating to sustainability, ESG reporting in Africa, and climate change.

If you’d like to discuss how ETK Group can help you achieve your climate change goals, please email us at admin@etkgroup.co.uk

Financing the Shift to a Sustainable Future

  • 14th November, 2022
  • 4 min reading

Among the most contentious topics affecting international cooperation on climate change is the question of what responsibility richer countries bear for helping poorer countries deal with the costs of a warming planet. The question of how to finance the costs associated with climate change were covered in the sessions on Wednesday, November 9 where the thematic topic of the day for COP27 was climate finance in the broadest sense. The costs for dealing with climate change largely fall into three broad categories: adaptation, mitigation, and loss and damage.

  • Adaptation – These are the costs associated with implementing the necessary changes to deal with the impacts of climate change. This includes things like strengthening infrastructure, adapting agriculture and industry, and other costs associated with building in a more climate resilient way.
  • Mitigation – These are the costs associated with implementing the necessary systems to reduce greenhouse gas emissions – things like switching power grids to more renewable sources of energy, helping businesses reduce emissions associated with their operations, helping households to become more energy efficient, and generally meeting national commitments to reductions in greenhouse gasses.
  • Loss and Damage – These are the costs of dealing with the impacts of climate change, whether “acute”, as in damages resulting from catastrophic storms or flooding events, or “chronic”, such as dealing with long term impacts to things like agriculture systems, chronic health conditions caused by climate change, or displacement of populations resulting from the loss of sustainable sources of water.

Loss and Damage Debate

What is loss and damage in the context of climate change? While there have always been issues and discussions on how to help poorer countries deal with all of the costs associated with climate change, the issue of loss and damage has long been the most contentious because of the issue of assumed liability. Wealthier countries have long feared the slippery slope of admitting responsibility for the damaging effects of climate change by explicitly paying for the damages associated with any given climate event, rather than – as has traditionally been done – by providing aid after the fact. Scientists can now use computer modeling to determine with a high degree of accuracy the degree to which any particular climate event has likely been caused by increased concentrations of greenhouse gas emissions in the atmosphere.  This makes it much easier to link the “cause” of increased GHG emissions by wealthier countries with the “effect” of a particular storm on a particular population. 

When the UNFCCC was first being drafted in the early 90s, a group of small island states pulled together and suggested the creation of an international insurance fund that would provide compensation for the damages associated with rising sea levels and increasingly ferocious storms. While the language ultimately was not included in the final text, the idea has persisted, and has been discussed with increasing urgency as the worlds’ most vulnerable places face what has become for many an existential threat.

While rich countries have long resisted calls to provide explicit support for damages caused by climate change, poorer countries have continued to press their case. Loss and damage was first recognised as a legitimate topic for discussion at COP19 in Warsaw, Poland in 2013.  Coming out of the Conference, The Warsaw International Mechanism was established to further study the loss and damage concept, but it resulted in nothing but further dialogue and analysis with no commitment of funds to help affected countries. Finally, under mounting pressure, at COP26 in Glasgow in 2021, Scotland became the first country to commit to providing funds to support loss and damage claims.

With this year’s COP taking place in Egypt, as the conference opened on Sunday, rich countries for the first time agreed to discuss funding arrangements for loss and damage as a specific agenda item at the COP proceedings. While this is a long way from agreeing the specific mechanisms of how a loss and damage fund might be managed, or agreeing specific funding targets for wealthier countries, having the topic formally on the agenda was seen as some level of progress.  

And momentum seems to be gathering for rich countries to commit money to support loss and damage claims. This week, the President of the EU Ursula von der Leyen endorsed the idea, which was followed by pledges of funding from Ireland, Denmark, Austria and Belgium. Still, this falls far short of the estimated $580 billion in annual damages that countries are expected to experience from climate change by 2030.

Meanwhile, the world’s second largest emitter of greenhouse gasses has yet to fulfill the pledges made by President Biden in 2021, when he promised to provide $11.4 billion in loss and damage funding per year by 2024. So far the US has only managed to provide just $1 billion per year toward that goal – and this in years when the US Congress was controlled by Democrats. And notably, the US was absent earlier in the week from discussions on establishing a loss and damage fund, and was not among the countries that made explicit pledges to support loss and damage claims going forward.

Meanwhile, anger among the world’s poorest countries continues to grow, and those most affected continue to pursue options for securing the funding to help address the growing toll caused by climate change. Pakistan, which currently chairs the influential coalition of the “G77 and China” – and which experienced catastrophic flooding this year that affected approximately 10% of the country and caused an estimated $30 billion in damages – has gotten behind a plan by the Alliance of Small Island States to create a dedicated loss and damage response fund.

As the threats and damages from climate change continue to wreak havoc on poorer countries, many of which are in Africa, the discussions around loss and damage will most certainly continue, and will likely become more contentious as the costs continue to mount. While COP27 has not offered anything close to a definitive answer, at least the parties are now discussing the implications, considering options, and are beginning to commit funds.

In our next posting, we will look at the challenges associated with adapting to the impacts of climate change, with a particular focus on agriculture. Let us know your thoughts on any of the topics we’ve discussed, or anything else that has taken place at COP27.

Brent Barnette is a Non-Executive Director with ETK. He helps lead our focus on issues relating to sustainability, ESG reporting in Africa, and climate change.

If you’d like to discuss how ETK Group can help you achieve your climate change goals, please email us at admin@etkgroup.co.uk

Key Topics for Consideration at This Year’s COP27

  • 10th November, 2022
  • 2 min reading

As COP27 gets underway in Sharm El-Sheikh Egypt, and leaders from around the world gather to formulate an updated statement on the world’s commitment to collective action on climate change, there are a number of key issues that the delegates will face. This meeting of the Conference of Parties is happening 30 years after the drafting of the United Nations Framework Convention on Climate Change (UNFCCC) and 7 years since the Paris Climate Agreement was adopted at COP21. 

The COP meetings have now become an annual event, with an agenda covering a range of topics, from climate finance, to plans for decarbonization, impacts of climate change on youth and by gender, biodiversity, water resources, energy innovations, and solutions to the challenges of adapting to climate change and mitigating further emissions of greenhouse gasses.

It is now all but certain the goal set out in the Paris Climate Agreement of limiting global temperature rises to 1.5 degrees above pre-industrial levels will be missed. Global temperatures have already risen 1.1 degrees above preindustrial levels, and scientists predict that there is a near certainty (93% chance) that the world will experience temperatures 1.6 degrees above preindustrial levels by 2026.

As the world’s leaders gather for the first time in Africa, the focus will be on the increasingly severe impacts of climate change on populations in the global south, as rising warming temperatures disproportionately affect the poorest countries. The IPCC estimates that approximately 50% of the planet’s population is highly vulnerable to the increasing impacts of climate change. Those living in the most vulnerable regions are 15 times more likely to die from storms, droughts and floods. 

The disparity between the regions that are responsible for the most emissions, and places that are suffering the most from climate change will be one of the key themes running through the meetings in Sharm El-Sheikh.

Cop27 Climate Change

ETK Groups’ recommendations for climate change actions to monitor

Following is a listing of some of the key topics to keep an eye on throughout the proceedings, and that will be addressed in the various sessions and no doubt in the final communique. Over the next few days we will publish a series of more detailed discussion around these topics. Please join in on the discussion, and let us know your thoughts.

  1. “Loss and Damage” debate and the financial obligations of richer nations to poorer nations that are suffering the most.
  2. The impacts of climate change are here, now. How will we adapt? Impacts on food supplies, increased ferocity of storms, changes in weather patterns that are already having a real impact.
  3. We are not on track to meet our commitments in terms of reducing greenhouse gas emissions. What can be done?
  4. The world’s biggest emitters are still struggling with their commitments. Where will the global leadership come from that is desperately needed?

If you’d like to discuss how ETK Group can help you achieve your climate change goals, please email us at admin@etkgroup.co.uk.

Bolaji Sofoluwe, Managing Director at ETK Group has been appointed Chairwoman at BGEN International

  • 30th September, 2021
  • < 1 min reading

We are excited to announce that Bolaji Sofoluwe, Managing Director at ETK Group will be joining BGEN in a non-executive role as Board Chair, in their new subsidiary, BGEN International.

BGEN’s new subsidiary will complement their existing International Department and has been specifically formed to expand and support their client base in Nigeria, and Africa in general. Vinnie Edge, who is responsible for BGEN’s International operations, will oversee the new entity.

To ensure its success, BGEN International has made two key appointments to form a dynamic team with a wealth of overseas experience. Bolaji Sofoluwe has been appointed in a non-executive chair role after impressing the BGEN board with her contribution to BGEN International’s entry strategy into the African market. Don Foy will serve as Managing Director.

We know that Bolaji will do a fantastic job whilst maintaining her Managing Director position at ETK Group, and ensuring the company goes from strength to strength.

Click HERE to read more

ETK Group Become Members of The British Exporters Association

  • 12th July, 2021
  • < 1 min reading

ETK Group is extremely happy to announce that we have become members of The British Exporters Association (BExA), which is an independent national trade association representing the interests of the export community and exists as a lobbying, promoting, educating and networking organisation for UK exporters and associated services providers.

BEXA was established in 1940 as the National General Export Merchants Group, it became the British Export Houses Association and then in 1988 adopted the name of British Exporters Association when it recruited manufacturing companies as members.

Who is BExA?

BExA is a not-for-profit and non-party political organisation that’s led by its members, for its members.   Its membership is drawn from a wide cross-section of organisations within the exporting community, including large corporates, MSBs, SMEs and micro-exporters and their bank, credit insurance, legal and other service providers.  BExA seeks to promote the interests of its members and all UK exporters, with a particular focus on trade finance and export credit insurance.

What does BExA do?

BExA is a valued contributor to, and is engaged with, many Government departments and committees to drive export policy forward.  These include the Department for International Trade, UK Export Finance, the Foreign, Commonwealth & Development Office, and Houses of Parliament Select Committees.

First published in 2010, BExA also authors an UK Export Finance Benchmarking Paper which compares the performance of the UK’s export credit agency against others around the world. It has become the go-to guide to measure UK Export Finance’s product range, activities and quality of support to ensure that no viable UK export fails for lack of finance or insurance.

Click HERE to read more about BExA

ETK Group CEO Joins the oNetwork at the University of Oxford

  • 1st July, 2021
  • < 1 min reading

ETK Group are extremely proud and excited to announce that our Managing Director Bolaji Sofoluwe will be joining the oNetwork at the Entrepreneurship Centre at Saïd Business School, University of Oxford as an Entrepreneurship Expert.

Bolaji will be introducing fundamental and innovative concepts on globalisation and international trade, as a core component of entrepreneurship and business development. This is an amazing achievement for an outstanding person and professional.

The oNetwork announced the fabulous news this month as they welcome 17 new members to the oNetwork, which sees their community of experts reach gender parity and echoes the Centre’s commitment to building diverse communities and ensuring that they connect the best and brightest minds to the students and alumni that they serve.

Sorina Campean, Stakeholder Engagement Lead for the Entrepreneurship Centre and curator of the oNetwork, says, ‘Making space for diverse voices, and women in particular always translates into more creative ideas and solutions. The benefits of advancing women entrepreneurs and innovators are substantial. Experts estimate that closing the entrepreneurial gender gap could boost the global economy by up to $5 trillion. This is more important than ever now, as economies around the world strive to recover from the challenges posed by the pandemic. Therefore, as I am transitioning out of my role with the Entrepreneurship Centre, I am extremely proud to leave behind a truly gender-balanced community, which I know will continue to work hard alongside our staff, students and alumni to help advance the School’s entrepreneurial ambitions.’

Please click HERE to find out more.

Nigeria’s Twitter Ban and the Unintended Consequences

  • 10th June, 2021
  • 2 min reading

Nigeria’s Twitter Ban was announced on Friday, June 4, 2021, by Nigeria’s Minister of Information and Culture, Lai Mohammed, who confirmed the indefinite suspension of Twitter in the country.  He also disclosed the government’s directive to the National Broadcasting Commission (NBC) to start licensing all over-the-top (OTT) and social media operations. Nigerians are naturally outraged by the action, which they regard as another government infringement on freedom of expression. While this has come as a shock to most people in and outside of Nigeria, we seem to forget that this is becoming a growing trend amongst African countries over the last eight years; for example, between 2007 and 2015, Uganda, Cameroon, Ethiopia, Guinea, Algeria, Burundi, Chad, Mali, Sudan, Togo, Tanzania, and Zimbabwe all implemented full or partial shutdowns. However, with these actions free speech is not the only thing that is being harmed.

The unintended consequences of the Twitter ban – effects on trade

The ramifications of Nigeria’s Twitter ban have already spread beyond politics; for example, the gagging order has begun to wreak havoc on Nigeria’s beleaguered economy, resulting in a loss of N10 billion in the last four days. According to NetBlocks, a watchdog organisation that monitors cyber-security and governance of the Internet, each hour of the social media gagging costs Nigeria about $250,000 (N102.5 million), bringing the daily loss to N2.5 billion.

The digital platform has always been the haven of Nigeria’s youth, who are renowned for their resourcefulness and have been able to utilize the platform in such a way that it has provided a channel for them to conduct business, find employment, and start their careers. Young people in Nigeria have benefited from Twitter’s ability to bypass the country’s extremely restricted and fragmented physical infrastructure.

Furthermore, twitter has been a vital connection in the operations of millions of small and medium-sized businesses; it enables for the type of commercial rivalry that provides consumers with choices, resulting in innovation and improved products and services.

Gbenga Sesan, executive director of the Paradigm Initiative, a pan-African social enterprise working on digital inclusion and rights, stated that the suspension of Twitter sends the wrong signal to foreign investors, adding those small businesses using Twitter as a source of livelihood in Nigeria will be affected.

The way forward?

For the sake of Nigerian domestic and international trade, which is crucial for post-pandemic recovery, it is critical that both parties find a solution to this issue. If the Nigerian government wishes to ‘regulate’ platforms, the core basis for that would need to be clearly defined – freedom of expression and national security are on very different ends of the spectrum, where one is a fundamental human right and the other is a core responsibility of government. From an economic perspective, lost productivity and commerce is at stake, as well as long-term reputational damage to the country’s ability to attract investment to its digital economy. In other words, the actions of the government need to reflect that the country is truly, open for business.

The UK Aims to Be Africa’s “Investment Partner of Choice”

  • 18th December, 2020
  • 2 min reading

Strategic sessions concerning the UK post-Brexit have been organised across the country. Promoting and encouraging export for British businesses has been the top of the agenda for most of these meetings, highlighting the financial and technical support available for businesses wishing to export.

At a meeting of The Department of International Trade (DIT) Export Champions, attended by Graham Stuart MP, Minister for Exports, ETK Group‘s Managing Director, Bolaji Sofoluwe, asked a pertinent question. She noted that the Foreign, Commonwealth and Development Office (FCDO) was promoting investment on the continent and wanted more information on collaborative efforts between FCDO and DIT. Here is the response:

£10bn to be spent to tackle poverty in 2021

“DIT will continue to work closely with DFID’s successor organisation, FCDO, to keep international development and poverty reduction at the heart of the UK’s trade and investment policy. DIT was already working closely with the FCDO on shared objectives and the recent reduction in ODA does not mean we are stepping back from our global role in the world. The UK will spend more than £10bn next year to fight poverty, tackle climate change, improve global health and boost trade and investment. DIT and the FCDO will continue working together to maximise Britain’s influence around the world.

Trade is a key driver of economic growth which can trigger positive changes in a country’s economy, helping to raise incomes, create jobs and lift people out of poverty. This is particularly important as the world responds to the challenge and recovers from the economic impact of COVID-19.

We are delivering continuity in our trading arrangements with developing countries and exploring options to expand our relationships. In addition to FTAs, we pursue a mixture of informal and formal dialogues with key and emerging markets, for example JETCOs with Brazil and India, and the recent UK/Nigeria Economic Development Forum. These activities help secure better access for specific products or sectors and strengthened trading relationships which can lay the groundwork for future FTAs.

Managing Director, Enterprise Trade and Knowledge Group, Bolaji Sofoluwe, will be participating in the UK-Africa Investment Summit in 2021.

The UK’s ongoing investment commitment

The UK-Africa Investment Summit held on 20 January is an example of how DIT works with FCDO and its predecessors, each of us focusing on delivering our areas of expertise towards a shared goal of being Africa’s investment partner of choice. At that event, we saw the announcement of over £15bn of commercial deals and £1.5bn of development programmes directed towards supporting economic development in Africa, to create more opportunities for the private sector over the medium- to long-term.

Through these particularly challenging months, we have concentrated our efforts on supporting existing UK investors in Africa, through regular engagement in forums such as the Africa Investors Group (which was announced at the UK-AIS; has met four times this year; and is co-chaired by HMTC Africa and Andrew Skipper from Hogan Lovells). None of the deals announced at the Summit have fallen away despite the difficult period this year”.

There are ongoing funding opportunities for British businesses to develop projects and meaningful collaborations with African enterprises through FCDO. ETK Group’s MD will be participating in the UK-Africa Investment Summit in January 2021.

How ETK can help businesses through coronavirus crisis

  • 1st April, 2020
  • 2 min reading
The coronavirus is significantly impacting with all businesses feeling the effects. Here Bolaji Sofoluwe explains how ETK Group has expanded its services in response to the pandemic. There is no question that the outbreak of Covid-19 has had a huge impact on services, supply chains and staff provision. The disruption affects new trade relationships between the UK and Africa, so it is important that, as a company, we respond to the new demands. To help our clients, and potential new business, we are adapting our services. We know that it is very uncertain around the world, and that in a lot of cases, systems as we knew them before, are on a temporary go slow. In response, ETK will be offering support with expediting payments, managing human resource relationships, in-country representation, supply chain interruption and resilience consulting.

Payments

Anyone experiencing delays in receiving payments from African suppliers or businesses can be helped by our finance and credit control experts. We have several trusted partners with whom we can work to ensure our clients experience the minimum possible hold-up. Our partners offer tailor-made, robust solutions to ensure that our clients receive their business-critical payments – vital in today’s climate.

In-country representation

This is handled by ETK’s global associates who work on the ground in Africa. The service is aimed at people who have been forced to cancel their trips to Africa due to travel restrictions. However, they still need to progress negotiations. Our team can represent our clients in many ways. ETK can provide help with crisis management in Nigeria, Egypt, Kenya, South Africa, Uganda, Ghana, Tanzania and Angola.

Supply chain interruption

ETK can communicate with existing suppliers or source alternatives for businesses who require help with supply chain interruption and resilience consulting. This is the case for both internal interruption such as the breakdown of vital machinery, or external, for example the disruption to the flow of raw materials or parts to the business. We will work with companies to undertake a comprehensive business impact analysis to prepare their firms to address the impact of possible future supply chain disruption. This will strengthen the existing supply chain, identify alternative supply chain partners and look at ways to manage product demand, and as a result, will protect sales, revenue, cash flow and business reputation.

Stansted to Dakar direct flight will help trade & investment

  • 23rd March, 2020
  • 2 min reading
London Stansted is set to open up the UK’s only direct service to the Senegalese capital, Dakar, from this summer. Here, Bolaji Sofoluwe explains why the move will help to bolster trade links for the East of England. Infrastructure is a key component for successful import and export relationships. This includes transport infrastructure (roads, railways, airports, seaports) and services as well as telecommunications networks – all of which play a part in physical infrastructure that is crucial for moving goods and services to and from different countries.
Aeroplane
In the past, emphasis has been placed on sea and land freight because it is less costly than air transport. However, in recent years the importance of air transport for trade has been increasing – especially when speed is of the essence.

Strengthening airports

A 2018 study by Steer for Airlines UK with support from Heathrow Airport Limited, Manchester Airports Group and the Freight Transport Association found that air freight services contribute £7.2 billion to the UK economy and support 151,000 jobs and that across all sectors of the economy, £87.3 billion of UK gross value added (GVA) is currently dependent on air freight exports. Air freight currently represents 49% of the UK’s non-EU exports by value (£91.5 billion) and 35% of non-EU imports (£89.9 billion) – over 40% of total trade by value but under 1% by volume of goods shipped. To expand on this, strengthening and expanding our airports is key. However, the quality of the UK’s air freight infrastructure is a major issue since they now cater to significantly more widebody freight capacity than the facilities were originally designed for. Many of our freight facilities at UK airports are often decades old and have suffered from continued under-investment. This means bellyhold cargo now accounts for more than 60% of total UK air freight volume, according to the Steer for Airline study, with forwarders and shippers utilising an extensive intercontinental passenger network.

Direct flights

This is why I welcome more direct flights to countries within Africa – which will provide more opportunities for trade as well as for forging new business relationships. And the news of the new service in Essex to Senegal is particularly interesting after the airline cherry-picked London Stansted for three flights a week starting on June 26. The reason for the choice could well be the fact that the East of England is already streets ahead in terms of developing relationships with Africa. After all, of all the businesses I work with, the majority come from Essex, Suffolk and Norfolk and this flight route will give them the chance to develop new trade and investment opportunities. The UK-Africa Summit held in January focused on sectors where our region has particular strengths, such as renewable energy, housing and technology and this extra boost to the infrastructure here will continue to boost our relationships between Africa and the East. It is also a great link for Africans in diaspora to the Western part of the continent.