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An African Chamber for Africa's Business
Midrand, Johannesburg – In a ceremony held at the Pan-African Parliament (PAP) the Presidents of the Pan-African Parliament, Hon. Bethel Nnaemeka Amadi and the National African Federated Chamber of Commerce and Industry (NAFCOC), Mr. Lawrence Mavundla, signed a Memorandum of Understanding (MOU) between the two organizations.
The MOU will allow for joint cooperation between the two organizations on issues of promotion of Intra-African Trade; the creation of wealth and employment through the generation of new economic opportunities for the African people; and promotion of economic integration of the continent and self-reliance for shared prosperity. NAFCOC will also endeavour to mobilize support for the PAP through the facilitation of sponsorship from the African private sector.
The MOU is seen as a very important step in the cooperation between the public and private sectors in Africa and the support of the latter to the institutions of the African Union (AU).
It is to be recalled that the AU in its June 2011 Summit in Malabo, Equatorial Guinea, decided to “operationalise without delay the decisions already taken on the issue of alternative African sources of funding the activities of the African Union”. 
Honorary Membership of NAFCOC
The Diplomatic Society and The Diplomatic and Executive Networking Centre were granted Honorary Membership of the National African Federated Chamber of Commerce and Industry (NAFCOC). Consisting of half a million members Nafcoc is the largest business chamber in Africa.
Established in 1938 it is also the oldest. Accepting the membership Kirtan Bhana Managing Editor of The Diplomatic Society Publication Foreign Exchange and Peter Verrijdt President of the Diplomatic and Executive Networking Centre felt privileged to be associated with the Chamber and have been actively engaged in realising the value that this partnership brings, especially in fulfilling the Foreign Direct Investment (FDI), Trade and Tourism requirements for economic diplomacy.
Call to Innovate
Monhla Hlahla Chair of the Industrial Development Corporation (IDC) has heeded the call for innovation and has set a course to recreate the IDC to meet the challenges of an evolving global economy.
She was speaking at the announcement of the IDC's financial results in Johannesburg.
The results indicate that a change in tack which will allow for new models of financing for high employment projects, SMME and the green economy will spark innovation and localisation.
National Days
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