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BUSINESS & DEVELOPMENT

Namibia’s roads the best in Africa – WEF

Namibia has as once again been accorded the top position of having the best roads in Africa by the World Economic Forum (WEF). The results were released via the WEF’s Global Competitiveness Report for 2017/18, which tracks the performance of approximately 140 countries on 12 pillars of competitiveness, including the quality of road infrastructure development. The development of road infrastructure …

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Britain to add Nigeria’s naira to list of accepted trade currencies

Britain’s Export Finance Agency will add the naira to its list of “pre-approved currencies”, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency. The naira will become one of three West African currencies that UK Export Finance has pre-approved for its programme of funding transactions that promote trade with Britain, it said. Britain voted …

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DHL Global appoints Country Managers for Kenya, Nigeria

DHL Global Forwarding, a leading provider of air, sea and road freight services, has appointed Agnaldo Laice and Maureen Adibuah as Country Managers in Kenya and Nigeria respectively. Both of them are industry veterans who possess strong local market knowledge and have been with DHL for almost two decades – having risen through the ranks in different portfolios. They will …

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German unemployment hits new low in January

Unemployment in Germany hit a new low in January, official figures showed on Wednesday, as Europe’s largest economy made a strong start to the year while Berlin inches towards forming a government. Just 5.4 percent of workers were jobless in January, the Federal Employment Agency (Bundesagentur für Arbeit or BA) said in figures adjusted for seasonal and calendar variations, down …

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US government blocks MoneyGram sale to Chinese

The US government has blocked the sale of Texas-based international money transfer company MoneyGram to Chinese online retailer Alibaba, both corporations have announced. The MoneyGram deal is the latest in a series of Chinese acquisitions of American companies that have failed to clear US financial authorities. The $1.2 billion deal’s failure represents a blow for Jack Ma, the executive chairman …

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African presidents reach strong consensus for inclusive growth at Africa 2017

African presidents have reached a strong consensus to focus on regional integration, inclusive growth and youth empowerment in order to achieve continued and sustained growth on the continent at the Africa 2017 Forum in Sharm El Sheikh, Egypt. President Abdel Fattah Al Sisi of Egypt hosted African heads of state and business leaders including President Alpha Condé of the Republic …

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Sierra Leone’s ‘Peace diamond’ sold for $6.5m in New York auction

A 709 carat uncut diamond discovered in March 2017 in Sierra Leone fetched a lower-than-expected $6.5m at a New York auction on Monday (4 December). The stone was found by diggers working for Pastor Emmanuel Momoh in Koryardu, located in the country’s eastern Kono district. It is one of the largest ever discovered in Sierra Leone and the 14th largest …

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Thousands of Togolese to enjoy electricity as solar programme takes off

Awagomè, 4 December 2017 – The Government of Togo’s “CIZO” initiative has made a significant stride forward as BBOXX, a new generation utility which provides reliable energy access to communities with its solar home systems, officially launched its operations in Togo today. President Faure Gnassingbé, President of the Republic of Togo, visited one of BBOXX’s first customers in the rural …

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EU sugar-coats Swazi absolute monarchy’s bitter pill

EU-support for Swaziland’s monarchy-controlled sugar industry undermines the fight for democracy, even though it nominally benefits smallholders, says new report from Danish solidarity organization, reports Peter Kenworthy. A new report from Afrika Kontakt commends the EU for supporting Swaziland’s sugar industry, which benefits thousands of smallholder growers of sugar cane. The problem is, however, that the smallholder growers are also …

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Open for business: How South Africa is delivering on its potential

A trip to South Africa can be life-changing. Every year, millions of people visit the vibrant country to enjoy its unique natural beauty and experience its rich cultural diversity. South Africa’s reputation as a world-leading tourist destination is firmly established, and the nation is increasingly an exciting proposition for investors from across the globe. In the 21st century, South Africa …

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Business conference to market Ghana and Ethiopia to Bavarian Investors

Investment potential in the African nations of Ghana and Ethiopia will be key focal points during the Germany African Business Forum, to be held on 28 November in Munich. Hon. Ibrahim Mohammed Awal, Minister for Business Development for Ghana, and H.E. Dr. Mebrahtu Meles, State Minister for Industry of Ethiopia, will be delivering key presentations to attending investors at the …

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Start-up Night! brings German and African businesses together in Berlin

German Minister for Economic Affairs and Energy Brigitte Zypries opened the Start-up Night! Africa on 26 October in Berlin. The Start-up Night! Africa is the latest event to take place as part of the successful series of Start-up Nights!, a string of business-matching events hosted by the Federal Ministry for Economic Affairs designed to bring young businesses and established companies …

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African leaders discuss challenges to continent’s industrialisation  

Unemployment and poverty are serious concerns for the continent, where more than 70% of the working age population is unemployed or has no job security, prompting the UN to declare 2016-2025 as the Third Industrial Development Decade for Africa (IDDA III). African leaders deliberated in New York on how to industrialise the continent in a socially inclusive, environmentally sustainable manner to …

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West Africa to introduce single currency by 2020

Four West African presidents said on Tuesday they planned to accelerate the creation of a shared currency for the 15-country ECOWAS bloc by 2020, according to a joint statement. The future currency, whose name is yet to be determined, would replace the dominant CFA Franc introduced by former colonial power France in 1945 and whose treasury still backs it. “Our …

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Pirates kidnap six crew from German-owned ship off Nigeria

Six crew members from a German-owned container ship, including the captain, have been kidnapped off the coast of southern Nigeria, maritime security analysts said. The Sea Guardian consultancy said the Demeter “was attacked by pirates” at about 7:00 am (0600 GMT) on Saturday south of the Nigerian oil city, Port Harcourt. “Pirates boarded the ship, kidnapped six crew, including (the) …

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Nigerians to converge on Lisbon for NIDO housing investment summit

Nigerians from across Europe will converge on the Portuguese capital, Lisbon, on 9-11 November for the annual general meeting or AGM of the Nigerians in Diaspora Organisation Europe (NIDOE). The congress will deliberate on the state of the organisation and on issues important to the Nigerian Diaspora generally. Moreover, NIDOE members will discuss developments at home as they affect the …

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Ghana to give free chocolate to every student daily – President

Ghana’s President Nana Addo Dankwa Akufo-Addo has promised to initiate a programme that will ensure every student receives free chocolate or cocoa products every day. He said the decision is tied with the government’s plans of boosting the local consumption of cocoa products from the world’s second largest producer of the cash crop. “Our target is to provide every Ghanaian …

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International court favours Ghana in maritime border dispute with Côte d‘Ivoire

Ghana wins three-year case as the International Tribunal of the Law of the Sea rules that it did not violate the rights of its neighbour in oil exploration, report Emma Farge and Kwasi Kpodo. The International Tribunal for the Law of the Sea, sitting in Hamburg, Germany, on Saturday drew an ocean boundary favouring Ghana in a dispute with its …

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