Federation of West African Chambers of Commerce and Industry
The Federation of West Africa Chambers of Commerce was set-up around 1970s by the presidents of the 15 chambers of commerce of the West African region with a view to giving the business community of the region a voice and a tool to foster development and reduce poverty.
To translate that vision into reality, the founding members of FEWACCI set to create transnational corporations, which would have presence in all ECOWAS member countries and whose capital would be built by nationals of all 15 member countries.
It was in that context and in recognition of the important role that access to finance plays in the growth of businesses that the FEWACCI founding fathers thought that the first transnational corporation to establish should be a regional bank, that would understand the need of the people and that would dedicate itself to meeting those needs.
Thus they promoted and set-up the first West African bank, ECOBANK Transnational, which today has grown to be one of the leading banks in Africa as its operations and reach have gone beyond the confines of the West African Region.
FEWACCI is currently promoting a regional maritime company, the West Africa Sealink Company to provide reliable and affordable maritime transport services to business operators.
FEWACCI advocates on behalf of the private sector of the ECOWAS region for:
1. A greater involvement of the private sector in policy making decisions
2. Improvement of the business climate for the development of private investment
3. Public-private partnership in the development of projects and more particularly, regional projects covering more than one ECOWAS-member country, such as roads, railways, etc.
4. Institutionalised public-private dialogue
5. Good corporate governance
FEWACCI is also active in capacity building for its members through the organization of seminars, workshops and offers various platforms for members to exchange ideas and share experiences.
FEWACCI is a democratic institution with a six-member Bureau elected for a two-year term renewable only once. The Bureau reports to the General Assembly and appoints the management team who run the secretariat in Abuja, Nigeria.
NEW DELHI—India’s government on Monday eased foreign-direct investment restrictions in several sectors to increase inflows, a move that also could pave the way for Apple Inc. to open its own stores in one of its main growth markets.
A surge in cross-border mergers and acquisitions boosted global foreign direct investment flows around the world last year to $1.76 trillion, the most since the 2008-2009 financial crisis, the United Nations said in a study.
The ‘Foreign Direct Investment in Latin America and the Caribbean’ 2015 report published by Economic Commission for Latin America and the Caribbean (ECLAC) showed that Mexico recorded inflows of US$ 22.795 billion in 2014. Brazil continues to be the largest recipient of FDI in the region, though inflows US$ 62.495 billion, while Chile remains the … Continue reading Organisers of Annual Investment Meeting 2016 call for building investment bridges between Middle East and South America
The role of foreign direct investment into the continent remains significant: on average the government budgets of African countries currently depend on corporates domiciled in other countries for 14% of their funding.
Africa is now positioning itself as a major business opportunity for investors, according to ICAEW’s latest Economic Insight report.
China’s outbound direct investment (ODI )is expected to surpass $1 trillion for the first time in 2015, as slowing economic growth and rising internationalisation of Chinese business see more local companies investing overseas.
When the PM travels to the US this week to woo businesses there, one of the key facts that the government will be tomtoming about is the surge in foreign direct investment since Narendra Modi took over and how his personal touch has helped.
Foreign direct investment (FDI) in Turkey reached $3.39 billion in July, according to a report from the Ministry of Economy on Sept. 30.
The total volume of foreign investments in the UAE, at present a regional base for over 500 international companies, exceeded $100 billion in the past 10 years, Minister of Economy Sultan bin Saeed Al Mansouri said on Wednesday.
NEW DELHI: India has emerged on top of the foreign direct investment league table, overtaking China and the United States, according to the FT data service.