Pan-African legal and business advisory group has opened an office in Pointe Noire, in the Republic of the Congo. The firm will provide direct legal support for current and upcoming hydrocarbon projects.

The launch ceremony took place at the Atlantic Hotel on June 19 and was attended by Zion Adeoye, CEO of CLG; Strayson Vermeulen – Group (CFO)&COO; Yves Olivier, Director of CLG Congo; and Oneyka Ojogbo, Deputy Managing Director of CLG.

“CLG goes beyond just being a law firm, we are partners to our clients,” stated Adeoye, adding, “We are hoping that you can count on us on the ground in the Congo, across the Central African region and across the continent. We are here to build the industry, to ensure that Congo itself has legal professionals who are highly trained and highly skilled to assist you in your business.”

CLG represents oil and gas companies across 16 African countries, including emerging markets like Namibia and Sierra Leone and established players like Gabon and Nigeria. As such, CLG’s new office in the Republic of the Congo is poised to offer direct support for energy professionals navigating complex transactions and legalities in the oil, gas, mining and renewable energy sectors.

“We are known for our expertise in the areas of corporate tax, employees tax, indirect tax, international tax and other corporate investment vehicles including mergers and acquisitions,” stated Ojogbo, adding, “Our lawyers assist with arbitration, mitigation and other dispute resolution methods around the world and in Congo. If you have any requests, legal or tax or business in any industry or for any matter, think CLG.”

Renowned for its expertise in structuring, financing and developing energy projects, CLG’s local presence provides essential on-ground assistance, minimizing risks and protecting assets.

The Republic of the Congo – boasting over 1.8 billion barrels of proven oil reserves – is a key player in Africa’s oil and gas sector and has ambitions to double hydrocarbon production to 500,000 barrels per day. In February 2024, it became a liquefied natural gas exporter with its inaugural shipment from the Congo LNG project, which monetizes gas from the Marine XII concession.

International oil companies Perenco, Eni, and TotalEnergies are intensively exploring both offshore and onshore reserves, drawing new entrants to the market and heightening the need for specialized legal and strategic advisory services.

For more information about CLG and its service offerings, visit https://CLGGlobal.com/.

Distributed by APO Group on behalf of CLG.

Strengthening cooperation between the Economic Community of West African States (ECOWAS) and the United States of America was the main topic of discussion on 19 June 2024 in Abuja, Nigeria, between the Vice-President of the ECOWAS Commission, Mrs Damtien Larbli Tchintchibidja, and an American delegation led by congresswomen French Hill and Chrissy Houlahan.

On behalf of the President of the ECOWAS Commission, Dr Omar Alieu Touray, Mrs Tchintchibidja expressed her deep gratitude and sincere appreciation to the United States of America for its ongoing support to ECOWAS in achieving its objectives.

The meeting was also attended by a number of senior staff from the ECOWAS Commission, including the President’s Director of Cabinet, Abdou Kolley, and the Director of Peacekeeping and Regional Security, Dr Cyriaque Agnekethom.

Cooperation between ECOWAS and the United States of America covers several areas, mainly security, economic development, humanitarian assistance, democratic governance and institutional strengthening.

Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).

Within the framework of the ECOWAS Gender Strategy and Action Plan 2020-2030 for gender-sensitive disaster risk reduction, the ECOWAS Centre for Gender Development (ECGD) is organising the official launch of the implementation of its gender programmes in the Republic of Côte d’Ivoire on 21 June 2024 at the auditorium of the Office of the Prime Minister in Abidjan, Côte d’Ivoire.

The event is being held under the patronage and in the presence of His Excellency Mr Robert BEUGRÉ MAMBÉ, Prime Minister and Head of Government of the Republic of Côte d’Ivoire. The meeting will be held in partnership with the Ministry for Women, the Family and Children (MFFE) and the Ministry attached to the Minister of Foreign Affairs, African Integration and Ivorians Living Abroad, responsible for African Integration and Ivorians Living Abroad, through the ECOWAS National Office.

This event will also be attended by His Excellency Dr. Omar Alieu TOURAY, President of the ECOWAS Commission, the Honourable Hadja Memounatou IBRAHIMA, President of the ECOWAS Parliament, Mrs Fatou SOW SARR, ECOWAS Commissioner for Human Development and Social Affairs, Mrs Massandje TOURE-LITSE, ECOWAS Commissioner for Economic Affairs and Agriculture and the Honourable Veronica Kadie SESAY, Representative of the Economic Community of West African States Association of Women Parliamentarians (ECOFEPA).

This event demonstrates the ECGD’s commitment to working closely with its Member States, as well as with regional and international institutions and civil society organisations, to advance gender equality and the empowerment of women and girls at regional, continental and global levels.

For the record, since 2010, the ECGD has initiated technical and financial support programmes for women, men, young people and children. These include the Medical and Financial Support Programme for Women and Girls Suffering from Obstetric Fistula, which aims to improve the health of women and girls suffering from this condition, to enable them to lead productive, useful lives and give women their dignity.

The second programme involves support for the promotion of girls in the specialised technical and vocational training sector through the provision of scholarships for excellence to bright young girls from poor families, in order to help young girls in the ECOWAS region to obtain a quality education and skills in agricultural research, biotechnology, molecular biology and other areas of specialised technical and vocational training.

The third programme focuses on technical and financial support for women processors of agricultural, fishery and craft products, with the aim of strengthening the economic power of women involved in the processing of agricultural, fishery and craft products, so as to empower them completely. Finally, the 4th programme is the “50 million African Women Speak” project, which aims to facilitate the empowerment of women through the creation of a virtual platform for networking, sharing and accessing financial and non-financial information with a view to creating and developing their businesses in Africa.

As part of the implementation of the Fistula Programme, Côte d’Ivoire is one of the beneficiary countries of an exceptional allocation from ECOWAS for the medical and financial care of 60 women suffering from fistula, the rehabilitation of the unit for the care of fistula victims, the training of medical staff and social workers, and awareness-raising and information activities on the causes and consequences of fistula.

These programmes are run by the Ministry for Women, the Family and Children (MFFE) in collaboration with the technical ministries and institutions involved. The Ministry attached to the Minister of Foreign Affairs, African Integration and Ivorians Living Abroad, responsible for African Integration and Ivorians Living Abroad, through the ECOWAS National Office, coordinates and monitors the implementation of these programmes.

Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).

Somalia’s economy is expected to grow at 3.1 percent in 2023 up from 2.4 percent in 2022. This rebound in growth was driven by improved weather conditions and policy reforms instituted by the government to reach the Heavily Indebted Poor Countries (HIPC) Completion Point.  

The latest Somalia Economic Update notes that the medium-term growth outlook will remain modest, with growth projected at 3.7 percent in 2024 and 3.9 percent in 2025. While this growth faces significant risks, including persistent climatic shocks, security threats, and global economic shocks, the Federal Government of Somalia (FGS) continues to maintain broad-based fiscal stability. Inflationary pressures have also eased, driven by declining food prices, improved weather, and easing of global commodity prices.

“Addressing climate challenges and risks is essential for sustainable and resilient economic growth,” said Kristina Svensson, World Bank Country Manager for Somalia. “There is an urgent need for the Government of Somalia to support sustained and long-term growth, anchored on macroeconomic stability, broad-based structural reforms, and longer-term resilience to climate change at the whole-of-economy level.”

Growth overall has been supported by favorable rains in 2023 that led to a stronger-than-expected rebound of the agriculture sector. Similarly, the livestock sector also recovered quickly, with livestock exports increasing significantly. The FGS also registered robust growth in domestic revenue, although it is still too low to finance increasing expenditure needs. Additionally, improved performance by Somalia’s banks signals increasing confidence in the financial sector.

The special focus section of this economic update examines how climate action can help drive economic growth for Somalia. The report finds that Somalia needs to get ahead of the impacts of acute climate disasters – investing in resilience and preparedness, rather than spending on humanitarian aid continuing to consume the bulk of external assistance. This will require investments in disaster risk management, social protection, and more resilient rural livelihood systems.

The report projects  modest medium-term growth outlook anchored on continued political stability and reduced security risks. The government will also need to gradually scale-up its public spending in energy, transportation, education, and health sectors to maintain this growth path.  Outlook prospects would also depend on macroeconomic stability and government policies.

External trade will continue to improve, assuming favorable weather conditions continue, and the global environment strengthens. Financial sector reforms and related institutional capacity building are expected to continue increasing confidence, integrity, and financial deepening. Reforms to tax policies and administration are expected to mobilize additional domestic revenue. The wage bill, together with goods and services expenditures, will continue to drive spending, both accounting for two-thirds of the budget in 2024. Higher domestic revenues will make room for greater spending on public investment and social services. The government will need to keep inflation low, and cushion household incomes.

“Somalia’s economic outlook remains positive, with economic growth set to accelerate, albeit at modest pace,” said Abdoulaye Ouedraogo, World Bank Economist and author of the report. ”Completing the HIPC process and accession the to East African Community should boost investors’ confidence and support regional integration. Economic reforms and increased public investment should also boost investor confidence and attract foreign direct investment, encouraging increased broad-based private sector activity and investment.”

The report offers some policy recommendations for the post-HIPC Environment. Budget deficits should be manageable through prudent fiscal policy -strengthening domestic resource mobilization, containing the wage bill and security spending, and advancing public finance management reforms. It is imperative for government to  further strengthenen debt management legislation and functions including prioritizing concessional financing sources. Advancing discussions on federalism can help to improve the stability of the state, which can enhance the overall environment for doing business and strengthenen public systems to deliver services. Overreliance on external grants can put macroeconomic stability at risk, especially if there are any shocks in the flow of grants. There are substantial risks of re-accumulating debt arrears.

Distributed by APO Group on behalf of The World Bank Group.