PIERS Supports the World Trade Center Africa Initiative
Published:20 May 2015 01:05:40 PST
Mochron Investments, the holding company of the World Trade Center Africa Initiative (an initiative which consists of the ownership and operation of a network of World Trade Centers in sub-Saharan Africa), is now using global trade intelligence from PIERS, the Standard in Trade Intelligence, to accelerate international trade with Africa.
A few visionary individuals supported by various governments and private sector companies across Africa and Europe, have embarked on creating successful operating World Trade Centers across Africa. These World Trade Centers function as an integrated Pan-African Network of centers of excellence with a common goal–to develop trade with Africa.
With the hub of The World Trade Center Africa Initiative in Cape Town, South Africa, the main purpose of the centers is to stimulate local economies and provide a platform for companies of all sizes to gain access to international markets. Mochron’s ultimate goal is to increase trade with Africa by 1%. This will potentially generate US$70 billion, which is three times the amount of aid Africa currently receives from the G8 countries.
The current countries that are benefiting from the World Trade Center Africa Initiative are; South Africa (WTC Cape Town and Johannesburg), Botswana (WTC Gaborone), Burundi (Bujumbura), DRC (WTC Kinshasa), Kenya (WTC Nairobi), Mozambique (WTC Maputo), Namibia (WTC Windhoek), Rwanda (WTC Kigali), Tanzania (WTC Dar Es Salaam), Uganda (WTC Kampala), Zambia (WTC Lusaka) and Zimbabwe (WTC Harare).
The African Network of World Trade Centers forms sophisticated links between businesses across Africa that serve a diverse range of economic sectors. These sectors include: mining, energy, construction, agriculture, tourism, finance, communication, logistics, health, and technology.
It aims to support the Small Medium Enterprises of Africa, which is the primary economic driver to develop jobs and stimulate a consumer driven economy. These enterprises typically suffer from a lack of access to growth capital, a lack of understanding of, and access to international markets and frequently experience large corporate and foreign company exploitation. These are among the primary elements that The World Trade Center Africa Initiative seeks to address, thus helping the local companies to sell more of their products and services abroad. This will enable them to grow their businesses in the region of a World Trade Center presence and to employ more human resources in these regions. It achieves this objective by engaging with more than 300 other World Trade Centers globally and thereby developing new markets for its clients.
To support Mochron’s efforts, two key trade intelligence solutions from PIERS, PIERS Prospects? and PIERS StatsPlus? are being implemented across the centers as the basis for their strategic planning efforts. Using Prospects, the centers will gain access to actionable intelligence, which connects companies importing and exporting goods, as well those companies servicing importers and exporters. StatsPlus combines international trade statistics with market specific trade information to provide a global picture of commodities being traded as well as the companies importing and exporting them.
Gavin Carter, Executive Vice President of PIERS said, “The formation of this partnership between PIERS and the World Trade Center Africa Initiative complements our other ongoing initiatives in emerging markets and partnering with economic development organizations. Over the past year, PIERS has been focusing heavily on understanding new problem domains and developing technology and solutions to help address these. Africa’s growing role is at the forefront of these developments, which makes this partnership not only rewarding, but exciting as well.”
Julius Steyn, CEO of Mochron Investments said, “This collaboration between the strategic partners – PIERS and Mochron Investments, will propel Mochron Investments and the World Trade Center Africa Initiative to new heights and will significantly aid in reaching Mochron’s 1% goal for increasing trade with Africa.”
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