Africa in business mood as Unctad conference in Nairobi ends

President Uhuru Kenyatta (centre) with United Nations Conference on Trade and Development (Unctad) secretary-general Mukhisa Kituyi (left) and other officials at the closing ceremony of the 14th session of the Unctad at Kenyatta International Convention Centre in Nairobi on July 22, 2016. PHOTO | SALATON NJAU |NATION MEDIA GROUP

What you need to know:

  • At the Unctad conference, 134 developing countries, under the Group of 77 and backed by China, were pitted against Japan, the US and Canada, and the EU.

  • The developing world’s push was underpinned by a desire to tame multinationals perceived to be dominating world trade.

  • The G77 wanted the Unctad mandate to include issues like illicit financial flows.

The past week saw world attention focused on the Unctad14 conference in Nairobi in which delegates deliberated on the changing geo-political architecture.

Considering the evolving economic landscape, delegates brainstormed steps to take to ensure disadvantaged countries achieved the UN’s 2030 world development agenda.

It was also hoped that during the forum, which brought together 7,000 delegates, the voice of Africa and the Third World would be heard.

With a need to address African agenda as the continent challenges western norms with regard to distributing economic and political power, the conference was clearly timely.

Notably critical was the fact that in recent times, there have been calls for the urgent correction of drawn-out north-south economic disparities.

But even as the conference was going on, other activities were taking place in Africa. They included last Sunday’s orderly presidential election in São Tomé and Príncipe and the ultimately aborted election of the AU Commission chairperson.

WON RACE

São Tomé and Príncipe media reported on Monday that Evaristo Carvalho, the candidate of the ruling Acção Democrática Independente party won the race.

Carvalho, 74, garnered 50.1 per cent of the vote in the first round, way ahead of incumbent Manuel Pinto da Costa, who garnered 24.8 per cent. He was closely followed by Maria das Neves who had 24.1 per cent.

The election to replace Nkosazana Dlamini-Zuma was postponed during the 27th AU summit in Kigali, Rwanda. The election was put on hold when none of the three contenders garnered two-thirds of the vote. Poignantly, the stalemate came after 28 of the 54 member states abstained from the final round of voting.

Before the election, many states expressed dismay at the lack of stature among candidates from Botswana, Equatorial-Guinea and Uganda. Dlamini-Zuma accepted to stand in until the next summit in January.

Back to Unctad, 134 developing countries, under the Group of 77 and backed by China, were pitted against Juscan (Japan, US and Canada) and the EU. The developing world’s push was underpinned by a desire to tame multinationals perceived to be dominating world trade.

The G77 wanted the Unctad mandate to include issues like illicit financial flows.