Ukraine plans to send 57,000 tons of grain as humanitarian aid to Nigeria, Sudan and Somalia, Deputy Minister of Agrarian Policy and Food Markiyan Dmytrasevych said during a meeting with Deputy Executive Director of the World Food Program (WFP) Carl Skau.
According to the press service of the Ministry of Agrarian Policy, the parties discussed sending ships with Ukrainian humanitarian grain to Nigeria (25 thousand tons) and Sudan (32 thousand tons) under the Grain from Ukraine program. They also discussed the possibility of sending humanitarian cargo to Somalia.
In addition, the parties discussed preparations for the next international food security summit in Kyiv.
“In particular, it is possible to expand the geography and range of supplies on the initiative of Grain from Ukraine,” the Ministry’s website said.
Ukrainian Foreign Minister Dmytro Kuleba will visit the Federal Republic of Nigeria on May 28-29 for the first time since 1991, the Foreign Ministry’s press service said.
“This will be the first visit of the Ukrainian Foreign Minister to Nigeria since the establishment of diplomatic relations in 1992,” the statement said.
It is noted that the Ukrainian foreign minister will take part in the inauguration of the newly elected President of Nigeria Bola Tinubu. He will also hold a series of bilateral meetings with the heads of delegations of African countries.
“The key topics of the Minister’s meetings will be the intensification of political dialogue between Ukraine and African countries, the promotion of the Formula of peace President Vladimir Zelensky, food security, increase in trade and deepening cooperation in international organizations,” – stressed in the department.
On March 28, 2023 the Henley & Partners company provided the annual report on prosperity of Africa.
According to the Africa Wealth Report 2023, published by Henley & Partners in partnership with New World Wealth, the total amount of private wealth currently owned by individuals on the African continent is USD 2.4 trillion. This figure is expected to rise by 42% over the next 10 years.
South Africa, Egypt, Nigeria, Kenya and Morocco are the “big five” in terms of concentration of private capital, together they account for 56% of all wealthy people (HNWI) of the continent and more than 90% of its billionaires. There are currently 138,000 HNWIs in Africa with a personal net worth of USD 1 million or more, as well as 328 cent-millionaires with a net worth of USD 100 million or more, and 23 dollar billionaires.
Despite a challenging past decade, South Africa still has at least twice as many wealthy people as any other African country and 30% of the continent’s cent-millionaires. Egypt leads in the number of billionaires, while Mauritius boasts the highest wealth per capita in Africa at USD 37,500, followed by South Africa at USD 10,880 and Namibia at USD 10,050.
The fastest growing markets in the world
Andrew Amolis, head of research at New World Wealth, notes: “Africa is home to some of the fastest growing markets in the world, including Rwanda, Mauritius and the Seychelles, where wealth growth has been 72%, 69% and 54% respectively over the past decade.” Mauritius is expected to show strong private capital growth of 75% over the next decade (until 2032). This would make it the fourth fastest growing country in the world for the period in terms of millionaire growth, behind Vietnam, India and New Zealand.
richest cities in africa
4 of the 10 richest cities in Africa are in South Africa: Johannesburg has the largest number of millionaires in Africa (14,600), Cairo is in second place with 7,400 ultra-wealthy residents, followed by Cape Town (7,200). Lagos (5,400) is fourth, Nairobi (4,700) is fifth. Two other South African cities, Durban (3600) and Pretoria (2400), are ranked sixth and eighth respectively.
Namibia – the new star of Africa
Namibia is predicted to become one of Africa’s fastest growing markets, with the ultra-rich projected to grow by more than 60% by 2032. By December 2022, the country’s total investment wealth was USD 26 billion, and the number of dollar millionaires was 2,100 people. Launched in March 2023, the Residential Residency (RP) offer by investment could attract even more wealthy investors from around the world.
Investment migration is an innovative financial instrument
Dominique Volek, head of private banking at Henley & Partners, notes that more and more African countries are aiming to attract wealthy people through the provision of residence permits and citizenship by investment. These direct investments have the potential to seriously transform the economy: “As wealth grows on the continent and countries realize the benefits of promoting economic progress, we expect investment migration in Africa to continue to gain momentum in the coming years. This applies not only to demand in the domestic market on the part of investors from African countries, but also on the supply side. More and more African countries are looking to launch their own investment migration programs to increase the influx of both capital and talent.”
About the Africa Wealth Report 2023
The Africa Wealth Report 2023 is published annually by Henley & Partners in association with South African think tank New World Wealth. The study provides a comprehensive analysis of private equity across the continent, including trends in high net worth consumption, the luxury market and wealth management in Africa.
For more than a decade, New World Wealth has been tracking the wealth movements and buying habits of the world’s richest people. The firm’s research covers 90 countries and 150 cities around the world. It uses a model to determine wealth levels in each country with key wealth parameters from HNWIs own database of over 150,000 contacts, stock market and real estate statistics, and household income, savings and debt statistics in each market. The New World Wealth model also displays the historical growth trends of wealth in each country, taking into account fluctuations in the exchange rate against the US dollar, as well as movements in the stock market and real estate prices.
Read the report
Nigeria intends to implement new logistics projects to increase and make more predictable the exports of agricultural products from Ukraine, a similar intention announced earlier by Senegal.
The Minister of Agrarian Policy and Food of Ukraine Mykola Solskyi has reached the relevant agreements during the meeting with the Minister of Foreign Affairs of the Federal Republic of Nigeria Jeffrey Onyeama and the Minister of Agriculture and Rural Development Mohammad Mahmoud Abubakar, the website of the Ministry of Agrarian Policy reported on Wednesday evening.
It is specified that the meeting took place within the framework of the visit of the delegation of the Ukrainian Ministry to the countries of Africa.
The parties discussed opportunities for cooperation and expansion of trade relations between the countries, in particular the creation of a logistics hub for permanent supplies of agricultural raw materials and food products.
As reported, on January 9, Solskyy signed a memorandum of understanding in Senegal, which provides for the development of bilateral trade in agricultural products, cooperation in scientific research, investment, relations between public institutions and private organizations of Ukraine and Senegal.
It also refers to the possibility of storage of Ukrainian grain in the so-called grain hubs. At the same time, the head of the Ministry of Agrarian Policy said at the meeting that Ukraine is ready to export to African countries not only agricultural products, but also other goods, but it is necessary to focus on the development of logistics.
Ukraine and Nigeria have agreed to elaborate further on information that will ensure the effective implementation of Grain from Ukraine, a program to supply Ukrainian food to famine-stricken countries in Africa and Asia.
According to the website of the Ministry of Agrarian Policy and Food on Friday, the Minister of Agrarian Policy of Ukraine Nikolay Solsky and Federal Minister of Agriculture and Rural Development of the Federal Republic of Nigeria Mohammad Mahmud Abubakar discussed ways to implement the humanitarian initiative in practice.
The parties voiced their vision of cooperation at all stages of the implementation of the humanitarian mission. They discussed, in particular, the possibilities of transportation of products and available types of crops for supply.
As reported, the Grain from Ukraine humanitarian program, which was announced by Ukrainian President Volodymyr Zelensky at a speech before the G-20 and which will be implemented in partnership with the UN WFP, provides for the provision of grain to at least 5 million people until the end of spring 2023.
As part of the program, Ukraine has decided to send some of its grain reserves to those African countries where there is already a hunger problem. Some of the grain ready for export can be purchased by the project participating states, thereby international partners can simultaneously support the Ukrainian economy in a difficult situation and help poor African countries.
By the end of November 2002, more than 30 countries and international organizations had joined Grain from Ukraine, raising a total of more than $180 million.
Austria, Belgium, Bulgaria, Great Britain, Greece, Estonia, EU, Ireland, Spain, Italy, Canada, Qatar, Latvia, Lithuania, Netherlands, Germany, Norway, Poland, Portugal, Republic of Korea, Romania, Slovenia, USA, Turkey, Hungary, Finland, France, Croatia, Czech Republic, Switzerland, Sweden and Japan, as well as NATO and UN.
As a result of a pirate attack on the Curacao Trader ship in the Gulf of Guinea off the coast of Nigeria, 13 out of 19 crew members have been abducted, there are four Ukrainian citizens among the captured sailors, the Ministry of Foreign Affairs of Ukraine reported.
“On July 17, 2020, as a result of a pirate attack on the Curacao Trader ship in the Gulf of Guinea off the coast of Nigeria (200 miles southwest), 13 out of 19 crew members were kidnapped. Four citizens of Ukraine were among the seamen,” the press service of the Ukrainian Foreign Ministry told Interfax-Ukraine agency.
Embassies of Ukraine in Nigeria and the United Kingdom have established contact with the shipowner, the operator of the vessel and are clarifying the circumstances of the case, the Foreign Ministry noted.
