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CONTENTS July 2018 ISSUE N° 454 WWW.ICPUBLICATIONS.COM UNITED KINGDOM IC PUBLICATIONS 7 Coldbath Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: +44 20 7713 7898 icpubs@icpublications.com africanbusinessmagazine.com FRANCE IC PUBLICATIONS 609 Bat A 77 rue Bayen 75017 PARIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 info@icpublications.com www.icpublications.com FOUNDER Afif Ben Yedder EDITOR Lanre Akinola l.akinola@icpublications.com CHIEF FEATURES WRITER David Thomas d.thomas@icpublications.com DIGITAL EDITOR Taku Dzimwasha taku@icpublications.com SUB EDITOR Charles Dietz c.dietz@icpublications.com ART DIRECTOR Jason Venkatasamy jason@icpublications.com STRATEGIC DIRECTOR Christian Udechukwu CONTRIBUTORS Rafiq Raji Stephen Williams SUBSCRIPTIONS IC Publications Webscribe Unit 4, College Business Park College Road North Aston Clinton, HP22 5EZ UK Telephone: + 44 (0) 1442 820580 contact@webscribe.co.uk www.africanbusinessmagazine. com/subscribe GROUP PUBLISHER Omar Ben Yedder VP DEVELOPMENT Saliba Manneh s.manneh@icpublications.com SENIOR PROJECT MANAGER Darren Moore d.moore@icpublications.com ADVERTISING SALES DIRECTORS Medrine Chitty Baytir Samba Nick Rosefield ADVERTISING advertising@icpublications.com DISTRIBUTION distribution@icpublications.com PRODUCTION MANAGER Richard Briggs GHANA – SPECIAL PROJECTS AND ADVERTISING Silvia Salvetti Ollennu Top Reports Tel: +233 24 910 5995 top@topreports.org NORTH AFRICA Néjib Ben Yedder n.benyedder@icpublications. com IC EVENTS info@ic-events.net Printers Roularta Media Group Meensesteenweg 300 8800 Roeselare Belgium All pictures AFP unless indicated. Registered with the British Library. ISSN 0142-9345 ©2018 IC Publications Ltd N° DE COMMISSION PARITAIRE 0320 K 89343 Mensuel: Juillet 2018 Dépôt légal COVER STORY AFRICA’S BLUE ECONOMY BRIEFS 4 News from around Africa COVER STORY 10 Africa’s blue economy: An overlooked opportunity? INTERVIEW 22 Abebe Selassie, Director, Africa Department, IMF EGYPT-ETHIOPIA 28 Tensions ease over Ethiopia’s dam TUTU FELLOWS LEADERSHIP COLUMN 32 Mandela at 100: Pause to reflect on African leadership INTERVIEW 34 Carlos Lopes, Former Executive Secretary, UNECA FINANCE 36 How well are Africa’s sovereign wealth funds managed? EXPERT VIEW 40 How development banks can ‘shift the trillions’ DEVELOPMENT 42 What can Africa learn from South Korea? TUTU FELLOWS LEADERSHIP COLUMN 45 The circular economy GERMANY-AFRICA 48 Germany in Africa COUNTRYFILE 54 Cyril needs time to turn things round AFRICAN BUSINESS VIEW 56 Should development trump democracy? INTERVIEW 60 Pierre Guislain, Vice President Private Sector, Infrastructure and Industrialisation, AfDB EXPERT VIEW 61 Growth of agritech calls for rapid policy response HUMAN RESOURCES 62 How to retain top talent INTERVIEW 70 Robert Ochola, Director of Strategy and Innovation, Afreximbank LAST WORD 74 Aid transparency

CONTENTS

July 2018 ISSUE N° 454 WWW.ICPUBLICATIONS.COM

UNITED KINGDOM IC PUBLICATIONS 7 Coldbath Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: +44 20 7713 7898 icpubs@icpublications.com africanbusinessmagazine.com

FRANCE IC PUBLICATIONS 609 Bat A 77 rue Bayen 75017 PARIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 info@icpublications.com www.icpublications.com FOUNDER Afif Ben Yedder EDITOR Lanre Akinola l.akinola@icpublications.com CHIEF FEATURES WRITER David Thomas d.thomas@icpublications.com DIGITAL EDITOR Taku Dzimwasha taku@icpublications.com SUB EDITOR Charles Dietz c.dietz@icpublications.com ART DIRECTOR Jason Venkatasamy jason@icpublications.com STRATEGIC DIRECTOR Christian Udechukwu CONTRIBUTORS Rafiq Raji Stephen Williams SUBSCRIPTIONS IC Publications Webscribe Unit 4, College Business Park College Road North Aston Clinton, HP22 5EZ UK Telephone: + 44 (0) 1442 820580 contact@webscribe.co.uk www.africanbusinessmagazine. com/subscribe

GROUP PUBLISHER Omar Ben Yedder VP DEVELOPMENT Saliba Manneh s.manneh@icpublications.com SENIOR PROJECT MANAGER Darren Moore d.moore@icpublications.com ADVERTISING SALES DIRECTORS Medrine Chitty Baytir Samba Nick Rosefield ADVERTISING advertising@icpublications.com DISTRIBUTION distribution@icpublications.com PRODUCTION MANAGER Richard Briggs GHANA – SPECIAL PROJECTS AND ADVERTISING Silvia Salvetti Ollennu Top Reports Tel: +233 24 910 5995 top@topreports.org NORTH AFRICA Néjib Ben Yedder n.benyedder@icpublications. com IC EVENTS info@ic-events.net Printers Roularta Media Group Meensesteenweg 300 8800 Roeselare Belgium All pictures AFP unless indicated. Registered with the British Library. ISSN 0142-9345 ©2018 IC Publications Ltd N° DE COMMISSION PARITAIRE 0320 K 89343 Mensuel: Juillet 2018 Dépôt légal

COVER STORY AFRICA’S BLUE ECONOMY

BRIEFS 4 News from around Africa

COVER STORY 10 Africa’s blue economy:

An overlooked opportunity?

INTERVIEW 22 Abebe Selassie, Director, Africa Department, IMF

EGYPT-ETHIOPIA 28 Tensions ease over Ethiopia’s dam

TUTU FELLOWS LEADERSHIP COLUMN 32 Mandela at 100: Pause to reflect on African leadership

INTERVIEW 34 Carlos Lopes, Former Executive Secretary, UNECA

FINANCE 36 How well are Africa’s sovereign wealth funds managed?

EXPERT VIEW 40 How development banks can ‘shift the trillions’

DEVELOPMENT 42 What can Africa learn from South Korea?

TUTU FELLOWS LEADERSHIP COLUMN 45 The circular economy

GERMANY-AFRICA 48 Germany in Africa

COUNTRYFILE 54 Cyril needs time to turn things round

AFRICAN BUSINESS VIEW 56 Should development trump democracy?

INTERVIEW 60 Pierre Guislain, Vice President Private Sector, Infrastructure and Industrialisation, AfDB

EXPERT VIEW 61 Growth of agritech calls for rapid policy response

HUMAN RESOURCES 62 How to retain top talent

INTERVIEW 70 Robert Ochola, Director of Strategy and Innovation, Afreximbank

LAST WORD 74 Aid transparency

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