The International Air Transport Association (IATA) urged governments to abide by international agreements and treaty obligations to enable airlines to repatriate close to nearly $1 billion in blocked funds from the sale of tickets, cargo space, and other activities.
“Governments are preventing nearly $1 billion of airline revenues from being repatriated. This contravenes international conventions and could slow the recovery of travel and tourism in affected markets as the airline industry struggles to recover from the COVID-19 crisis. Airlines will not be able to provide reliable connectivity if they cannot rely on local revenues to support operations. That is why it is critical for all governments to prioritize ensuring that funds can be repatriated efficiently. Now is not the time to score an ‘own goal’ by putting vital air connectivity at risk,” said Willie Walsh, IATA’s Director General.
Approximately $963 million in airline funds are being blocked from repatriation in nearly 20 countries. Four countries: Bangladesh ($146.1 million), Lebanon ($175.5 million), Nigeria ($143.8 million), and Zimbabwe ($142.7 million), account for over 60% of this total, although there has been positive progress in reducing blocked funds in Bangladesh and Zimbabwe of late.
Blocked Airline funds could slow recovery
Africa Consortium announces new cable branches
The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, stc, Telecom Egypt, Vodafone and WIOCC, announced the addition of four new branches to the 2Africa cable. The branches will extend 2Africa’s connectivity to the Seychelles, the Comoros Islands, and Angola, and bring a new landing to south-east Nigeria. The new branches join the recently announced extension to the Canary Islands.
2Africa, which will be the largest subsea cable project in the world, will deliver faster, more reliable internet service to each country where it lands. Communities that rely on the internet for services from education to healthcare, and business will experience the economic and social benefits that come from this increased connectivity.
Alcatel Submarine Networks (ASN) has been selected to deploy the new branches, which will increase the number of 2Africa landings to 35 in 26 countries, further improving connectivity into and around Africa. As with other 2Africa cable landings, capacity will be available to service providers at carrier-neutral data centres or open-access cable landing stations on a fair and equitable basis, encouraging and supporting the development of a healthy internet ecosystem.
Italy, Ethiopia sign two agreements
Italy and Ethiopia signed the implementing agreements related to two initiatives within the Ethio-Italian Cooperation Country Framework. On 1st July, the Ambassador of Italy to Ethiopia, Arturo Luzzi, and Yasmin Wohabrebbi, State Minister for Economic Cooperation of the Ministry of Finance, signed the agreement to implement the programme “Entrepreneurship development and employment creation for women entrepreneurs Focus on supporting women to enter or grow in the leather sector”. The programme, with a budget of 1 Million Euro, aims at promoting entrepreneurial development and employment opportunities for women in the leather sector enhancing entrepreneurial skills, strengthening market linkages, and networking opportunities. On 19th July, Ambassador Luzzi and Ahmed Shide, Minister of Finance, signed the Implementing Agreement regarding the initiative “Building Labour Market Intermediation that supports Economic Transformation in Ethiopia”. With a grant of 4 Million Euros, the overall objective of the project is to improve labour market outcomes for the rural population in Ethiopia by building effective Public Employment Services. The project aims to establish pilot rural job centers in three regions of the country providing services to vulnerable job seekers.
