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The American Business Council through our Quarterly Economic Update partners with top global professional Service Companies and experts to share business insights with the business community. On the 17th of November, KPMG shared the top 10 Macro Trends that will shape 2021 which showed what business executives should be on the lookout for in 2021.

You can watch the economic update here and have an overview of the presentation view here

The American Business Council in partnership with MasterCard, held a webinar on the 27th of August to share insights on consumer preferences and behaviour in response to COVID-19.

At the webinar, Bola Asiru, Principal / Divisional Lead MasterCard Advisors, Sub-Saharan Africa shared that due to the pandemic, there has been clear shift in consumer behaviour; a shift to digital payments stemming from the hygiene concerns around cash, a rise in ecommerce transactions and a growing dependence on internet connectivity for both work and lifestyle needs. To stay ahead, businesses need to add value to evolving consumer needs.

As consumers shift to cashless payments, there has been a positive growth for financial services. For example, POS transaction volume and value reached a 4 year high with N416Bn of transactions in July, mobile transactions (interscheme) value also reached a 4 year high at N275bn of transactions, and also the use of Digital & Mobile platforms has had a positive growth impact on the telecoms sector.

Other sectors with improved growth in Q2 in response to changing consumer behaviour include, healthcare, pharmaceuticals, broadcasting and courier services.

On policy making, Bola stated that policies & guidelines must be consistent and reflect the shift in consumer environment and there should be improved engagement from Policy makers to leverage on private sector insights on consumer behaviour to shaping policies that will enhance consumer experience.

For more information on the presentation click here.

The American Business Council in partnership with the US Mission in Nigeria is organized a webinar on the 1st of July 2020 to share the project financing opportunities from the United States and how best to leverage on these funds. The US Government agencies, USDFC and USTDA shared the funding opportunities for businesses click below for more insights.

USTDA Project Financing Opportunities

Health and Prosperity Initiative General Eligibility Requirements

DFC Project Financing Opportunities

A presentation by the IMF Chief Mission of Nigeria, Ms Jesmin Rahman, on IMF’s diagnostics on Nigeria, showing a snapshot of the current economic situation and outlook, the key fiscal challenges aggravated by the COVID-19 pandemic, and the drop in oil prices. The presentation provides insights into the policies listed in Nigeria’s Letter of Intent.
 
You can find the IMF Report here.

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The American Business Council in partnership with US-Africa Business Centre, AmCham Ghana and the Africa Continental Free Trade Area (AfCFTA) organized a webinar “AfCFTA Implementation Post COVID-19” on the 29th of May.

 
click to download pdf

The American Business Council in partnership with US-Africa Business Centre, AmCham Ghana and the Africa Continental Free Trade Area (AfCFTA) organized a webinar “AfCFTA Implementation Post COVID-19” on the 29th of May.

 
click to download pdf

Prepared at the request of the U.S. Trade Representative (USTR), the U.S. International Trade Commission’s most recent report, as requested, provides information on sub-Saharan Africa’s (SSA) trade performance under the African Growth and Opportunity Act (AGOA).

The USTR also asked for specific information on how the enforcement of intellectual property rights and other policy measures affect trade and investment across the region, as well as a better understanding of growing markets for biotechnology and digital products and services, particularly for key markets such as South Africa, Nigeria, Kenya, Ghana, Rwanda, Ethiopia, and Côte d’Ivoire.

As requested by the USTR, the USITC report provides:

  • an overview of U.S. exports to and imports from SSA of goods and services, as well as U.S. outward foreign direct investment (FDI) to SSA countries over the 2016–2018 period;
     
  • examples of how products and services from the United States integrate into key SSA value chains;
     
  • a description of the intellectual property environment, including national and regional laws, enforcement measures, and infringement issues, in key SSA markets;
     
  • a broad overview and examples of technological innovation in the SSA food and agricultural production, processing, and marketing system;
     
  • a broad overview and descriptions of recent developments in the digital economy for key SSA markets;
     
  • a summary of the AGOA utilization strategies that have been developed by SSA countries;
     
  • a summary of recent developments of regional integration efforts in SSA.

Detailed highlights of the Commission’s findings can be found in the report’s Executive Summary.

View the report:  here

The USITC issued an earlier report on U.S. trade and investment in Sub-Saharan Africa in 2018.

 

This publication contains an analysis of the amendments contained in the Finance Act and the expected impact of these changes on tax administration, revenue generation and businesses operating in various sectors of the economy.
Click on the link below to download KPMG’s e-book on Finance Act, 2020.

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