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BUSINESS & DEVELOPMENT

US-Africa Business Forum 2016

The United States Chamber of Commerce and the Bloomberg Philanthropies co-hosted the US-Africa Business Forum in New York on 21 September. The forum played host to African business and political leaders and their American counterparts.Development in Africa is really shaping up, as more trade partnerships are being made with several global investors and stakeholders towards evolving the continent’s image, rather …

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“Let us come together in Hamburg,” NIDO president invites Nigerians in Germany

The president of the Nigerians in Diaspora Organisation (NIDO) Germany, Kenneth Gbandi, has called on his compatriots to turn out in large numbers at the forthcoming 4th Nigerian Business & Investment Summit scheduled for 30 September and 1 October in Hamburg. The event, part of the activities of the NIDO Germany Day 2016 to mark Nigeria’s 56th independence celebrations, will …

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What German companies found during a recent exploratory visit to DR Congo

Cologne-based business lawyer Christophe Kabambe accompanied a German business delegation on an exploratory visit to the Congolese city of Lubumbashi. He reports on the revelations of the journey.A delegation of German businessmen recently visited the city of Lubumbashi in the deep south of the Democratic Republic of Congo (DRC) in June. Lubumbashi, with an estimated population of more than two …

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Nigerians in Germany to deliberate on the way out of their country’s economic crisis | 30 September-1 October

The German chapter of the Nigerians In Diaspora Organization (NIDO) will hold its annual summit in Hamburg on 30 September-1 October. The event will feature a business conference and an award ceremony.The 4th Nigerian Business & Investment Summit is dedicated to discussions on the necessity for, and opportunities in, the diversification of the Nigerian economy, which is currently experiencing difficulties …

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Sierra Leone ready for business again

Koroma woos foreign investors for post-Ebola growthSierra Leone is still counting the costs of the Ebola epidemic, not least on its economy which contracted in 2014 and 2015, after several years of solid growth. Now the West African country is trying to woo back investors and attract new ones.Though Sierra Leone has been declared free of the dreaded Ebola since …

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MoneyGram renews commitment to Nigeria

Sequel to the decision of the Central Bank of Nigeria (CBN) allowing only three companies to offer money transfer services to the country, MoneyGram International, Inc. has announced a renewed commitment to its operations in Nigeria.The CBN decision, announced on 2 August, named Western Union, MoneyGram and Ria as the only officially licensed providers of remittance services to Nigeria. The …

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Study: Migrant entrepreneurs provide millions of jobs in Germany

One study has found that entrepreneurs with foreign backgrounds in Germany have created around 1.3 million jobs in Germany. The study said the cliché of migrants owning Dönner shops and kiosks does not reflect reality.The number of business-owners with migrant roots and the people they employ has risen in Germany, according to a Bertelsmann Foundation study released recently. “We show …

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Uganda’s President Museveni makes case for investing in Africa at the Business Day in Berlin

Afrika-Verein demands more action from the German government as Uganda’s President Museveni makes case for investing in Africa.The federal government must do more to encourage a greater engagement of German companies in Africa, demanded Dr Stefan Liebing, chairman of Afrika-Verein, at this year’s German Africa Business Day in Berlin. He called for the removal of hurdles preventing German companies from …

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What Africa can learn from Germany’s energy transition

How Africa can learn from Germany’s successful ongoing transition to renewable energy was the theme of the 10th German-African Energy Forum, which took place recently in Hamburg, reports Femi Awoniyi.Willi Meixner, chief executive of the Power and Gas Division of Siemens AG, has advised African countries to focus on creating an encouraging regulatory environment if they are to attract investment …

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MoneyGram opens new office in Frankfurt, expands operations in Germany

As part of the massive expansion of its operations in Germany, the global CEO of the worldwide operating money transfer provider MoneyGram, Alex Holmes, was in Frankfurt recently to open the company’s new head office in Germany.The occasion provided opportunity to talk about money transfer in a time of refugee crisis and the social responsibility of operators in the sector.Mr …

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UK sanctions Cameroon timber traders for EU violations

The UK Authorities charged with enforcing the EU timber regulations (EUTR), have taken action against 14 UK importers sourcing timber from Cameroon linked to illegal logging.[1]Green Peace Press ReleaseThis news was presented at a Chatham House meeting in London on June 16, following comparable action by the Netherlands in early March, demonstrating that timber from Cameroon is coming under increasing …

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Special Report: Money Transfer to Africa

Remittance business undergoes silent revolutionBefore Western Union started offering money transfer services to Africa in 1995, the first company to do so, it used to take weeks if not months to find somebody travelling home to take the envelope along. And the brave ones among us who hid money in mails were often unlucky after post office workers in Africa …

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President Mukherjee’s visit strengthens Indian-African economic ties

At the end of his three-nation African trip in June, Pranab Mukherjee, the Indian President, said: “We have, through these visits, conveyed the message that India takes its engagement with Africa seriously and intends to follow up with determination on the announcements made at the India-Africa Forum Summit. India is committed to further consolidate our cooperation with all African countries.”Indeed, …

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Why Ethiopia is on track to become Africa’s industrial powerhouse

Ethiopia seems to be attracting the attention of economists interested in Africa, and for good reason. Except for Rwanda, Ethiopia is the only African country whose economic growth has been consistently high for more than a decade without relying on a natural resource boom.Between 2004 and 2014, per capita growth in Ethiopia was 8% per year. This was the highest …

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German development bank grants US$150 million loan to Africa Finance Corporation

Africa Finance Corporation (AFC) has announced its acceptance of a US$150 million 15 year loan facility from German development bank KfW. The loan agreement was signed on 22 June in London by Andrew Alli, CEO of AFC, and Jan Martin Witte, Head of Division for Infrastructure at KfW.The funds will be used to refinance projects across the corporation’s current and …

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INTERVIEW: Why Ghana is the best place to invest in Africa

Ghana is very serious about attracting foreign investment, says Mawuena Adzo Trebarh, chief executive of the Ghana Investment Promotion Centre (GIPC). During an exclusive interview with our correspondent Francis Sackitey in Accra recently, she talked about the incentives offered by her country, the preferred sectors for investment and the advantages of doing business in Ghana, among other issues.Why should an …

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Germany-based companies explain why groupage container service to Nigeria pays

Two companies have recently commenced groupage container service to Nigeria from Germany. Groupage means the consolidation of several small shipments into a single container.Eze Shipping Service in Hanover and Vin Kem Shipping in Frankfurt/Main said they introduced the service in response to demand from their customers who would like to regularly send small consignment of goods to Nigeria.It has been …

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Journey to Africa’s Middle Class

The Western media’s picture of Africa is characterised by two extremes: usually depicted are either the very poor masses who cannot feed themselves and who are all allegedly knocking on the door of Fortress Europe or the very rich who make their money at the expense of those poor people. The middle segment of society, however, is ignored in foreign …

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