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BUSINESS & DEVELOPMENT

Quality of Chinese-built cars better than European ones, Volvo executive admits

Swedish car maker Volvo says its vehicles built in China might actually be superior in quality to those it makes in Europe. In an interview with Australia’s Go Auto, Volvo’s senior vice-president of design, Robin Page, admitted that some were concerned about the automaker’s decision to build many of its vehicles in China. “What we’re finding is that the quality …

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Top 10 fastest growing economies in Africa in 2018

Africa’s economy is projected to continue to rise to 3.2% in 2018 and to a further 3.5% in 2019. This is according to the latest World Bank report released early 2018. According to the report, non-resource intensive countries are expected to expand at a solid pace, helped by robust investment growth. South Africa, Nigeria and Angola, the region’s largest growing …

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AfricanTide Union kicks off training programme for migrant entrepreneurs in Germany

AfricanTide Union, an organization that runs a refugee shelter and multiple programs for migrants and refugees in Dortmund, Germany, inaugurated its latest project on Monday, 9 April. Under the name “Friend”, the association now offers regular training for entrepreneurs with a migration background. “People with a migration background are quick to take entrepreneurial risk. However, it often comes to the …

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Hamburg hosts German-African Energy Forum 2018

Political and business leaders from Germany and Africa will gather at the Hamburg Chamber of Commerce on 24-25 April for the 12th German-African Energy Forum. The annual event offers a platform for players in the energy sector for interaction, networking and deal-making. The event this year will focus on the increasing role of renewable energies in the African continent’s electricity …

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Morocco ranked most attractive investment destination in Africa

According to the latest Africa Investment Index 2018 by Quantum Global Research Lab, an independent research arm of Quantum Global, Morocco has been named the most attractive investment destination in Africa, followed closely by Egypt and Algeria. ‘‘Morocco has been consistent in attracting an inward flow of foreign capital, specifically in banking, tourism and energy sectors and through the development …

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New Dawn for Africa as 44 countries sign continental free trade deal

Representatives of 44 out of 55 member countries of the African Union have signed an agreement on the African Continental Free Trade Area at an extraordinary AU Summit in Kigali. The African Continental Free Trade Area Agreement (CFTA ) could enter into effect by the end of this year following signing by 44 countries yesterday at the 10th extraordinary African …

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New book launches with stories of African female entrepreneurs

Founding Women is a collection of the inspirational, first-hand accounts of 20 African women who are defying the odds to build successful businesses in technology on the continent. Among the successful entrepreneurs interviewed in the book are Rebecca Enonchong – CEO of AppsTech ( Forbes 10 Female Tech Founders To Watch In Africa) and Hilda Moraa – Founder & CEO …

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Zimbabwe aims to meet 20% of global lithium demand

Zimbabwe is on the verge of new riches as it pledges to significantly increase its production of lithium used in batteries for electric vehicles. If its production potential is realized, the metal will bring the African country fabulous wealth, say analysts. Zimbabwe aims to supply 10 percent of the world’s lithium and could reach 20 percent, the mines minister from …

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Nigerians getting poorer, reforms urgently needed, says IMF

Nigerians are getting poorer despite the country’s slow recovery from recession, and economic reforms are urgently needed, the International Monetary Fund (IMF) said in a report seen by Reuters on Wednesday. The Fund expects the government to “muddle through” in the medium term, and any progress could also be threatened if elections next year consume political energy and resources, the …

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Ghana’s president makes strong case for increased German investment in Africa

The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, says Africa must build value-added, industrialised economies with modernised agriculture, which takes full advantage of the digital revolution, if she is to create wealth and prosperity for her peoples. Akufo-Addo made this known on Tuesday, 27 February when he delivered the keynote address at the 5th German-African Economic Forum, …

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Google now accepts payments for apps via Kenya’s M-Pesa service

Google Play apps and games store has started accepting payments in Kenya through Safaricom’s mobile phone M-Pesa service to boost downloads in a market where many people do not have a credit card. M-Pesa, which enables customers to transfer money and pay bills via mobile phone, has 27.8 million users in the nation of 45 million people where Google’s Android …

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Germany: Ghana’s President Akufo-Addo addresses business conference in Dortmund

The economy of many African countries are booming. How can German small and medium enterprises profit from this success? The 5th German-African Business Forum  NRW (das 5. Deutsch-afrikanische Wirtschaftsforum NRW) will deal with this question on Tuesday 27 February 2018 in the western German city of Dortmund at which President Nana Akufo-Addo of Ghana will deliver a keynote speech. Under …

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MILESTONE! Undersea Cable connecting Africa and South America lands on Brazilian coast

Landing of South Atlantic Undersea Cable in Brazil signals new chapter in Africa-America’s Telecoms Angola Cables, a telecommunications multinational, has reported that the South Atlantic Cable System (SACS) has made landfall at Fortaleza on the Brazilian coast. Company CEO, António Nunes, said that the arrival and installation of SACS on the Brazilian coast was “an important strategic milestone for the …

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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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