Science, Technology, and Public Policy

The power of Pan-Africanism as a guiding vision for the continent’s development is widely studied, mostly as an aspirational phenomenon. At worst, Pan-Africanism has often been seen as a poor imitation of American federalism or European integration. Both of these perceptions do not reflect the profound nature of the role that the ideology of Pan-Africanism played in shaping the continent’s economic transformation. 

Last week, President Trump signed a new executive order that paves the way to impose sanctions against any foreign bank that conducts business with North Korea, going well beyond current UN financial sanctions. These so-called secondary sanctions, which are penalties applied to third-party foreign banks (i.e., not directly against North Korean entities), are particularly focused on Chinese banks.

"Although this phased-approach to sanctions relief under the JCPOA ensures that Iran does not receive benefits without first implementing its nuclear commitments, uncertainties remain. The agreement does not affect U.S. and EU non-nuclear sanctions, such as those that target human rights abuses, support for terrorism, and money laundering. One question is whether or not relief from nuclear-related sanctions will affect the usefulness of non-nuclear sanctions."

"For US regulators, 2014 was a banner year for collecting fines against sanctions violators, according to The Economist. In June, BNP Paribas—France’s largest bank, and one of the largest in the world—agreed to shell out $9 billion to the US Department of Justice for violating sanctions against Cuba, Iran, and Sudan. This past month, US regulators slapped Germany’s Commerzbank—the country’s second-largest bank, with a similar global presence—with a $1 billion fine, after launching an investigation into its dealings with sanctioned countries. The increases in fines have signaled an aggressive, zero-tolerance policy toward violators, as well as a willingness to use the extraterritorial provisions of sanctions, which allow regulators to punish foreign-based banks..."

Cell phone use has grown faster in Africa than in any other region of the world since 2003....Of course, South Africa—the most developed nation—still has the highest penetration, but across Africa, countries have leapfrogged technology, bringing innovation and connectivity even to remote parts of the continent, opening up mobile banking and changing the way business is done.

"The surge in interest in Africa by China and India requires a different approach that does not view the continent as a helpless victim of foreign influence. To that end African countries are seeking to replace classical foreign policy that focuses on access to markets in return for raw materials with a new vision of economic diplomacy."

"The map of Africa as a hopeless collection of failing post-colonial economies is being redrawn before our very eyes. Credit should go to African leaders for their stubborn refusal to accept the future as predicted by others but to seek to change it. As they say, for Africa, the future is not what it used to be."

"Mwapachu will be remembered as a true entrepreneur with a passion for creating new institutions that improve the lives of the majority of people. He operationalised the EAC Customs Union, led negotiations for the EAC Common Market that came into force in 2010 and laid the groundwork for the forthcoming EAC Monetary Union. He also oversaw the admission of Rwanda and Burundi into the EAC."

"African countries need new constitutional orders to cope with modern economic challenges, Calestous Juma said at a recent lecture....A major challenge is based in the constitutions and laws left behind for the newly liberated countries. 'What was being negotiated as independence was really an exercise in constitutional continuity from the colonial period through independence,' Juma said....While there is enormous pressure on African countries to focus on economic programs, they are unable to because the governmental framework left behind did not integrate the economic role of the colonizer into the new role of president."

Foreign direct investment (FDI) has been touted as the tide that would raise all development ships.