BUSINESS

Spain’s Prime Minister Pedro Sanchez has unveiled a new policy “Africa Focus 2023”. He wants to build closer economic and institutional ties with various African countries. Emma Wallis reports Spain is looking to strengthen its political, economic and institutional ties with various African countries. On Monday, March 29, the prime minister, Pedro Sanchez, unveiled his new plan at an event: …

The AfCFTA Secretariat and the UN Development Programme (UNDP) have signed a strategic partnership to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis, and as a driver of sustainable development particularly for women and youth in Africa, in line with the SDGs and Agenda 2063 common vison for the continent. The agreement was sealed yesterday by …

LAGOS, Nigeria, March 23, 2021/ — There is a common misconception that the most dangerous threats to encounter on modern users’ digital journeys are likely to appear during Internet surfing. The reality however, based on the most recent analysis of cyberattacks in South Africa, Kenya and Nigeria in 2020 by Kaspersky experts demonstrates that users are in fact more likely …

The Director General of World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has pledged that the organisation would assist African women entrepreneurs to improve their businesses. Okonjo-Iweala, who recently assumed office at the global organisation, gave the assurance during a visit to Nigeria’s Minister of Women Affairs, Mrs Pauline Tallen, on Wednesday in Abuja. She said the visit of the WTO …

The prestigious US magazine, Global Finance, specializing in financial markets and investment banking, has named the African Development Bank (AfDB) as the “Best Multilateral Financial Institution in the world for 2021”. The award is a global recognition for the path breaking efforts of the African Development Bank as it transforms itself into a solutions bank for Africa, through a combination …

The widespread insecurity in Nigeria is scaring away prospective investors. Speaking in Abuja on Tuesday, the Netherlands Ambassador to Nigeria, Harry van Djik, said the Nigerian government should address insecurity as this was a crucial factor that had been affecting investment in the country’s economy. Djik spoke during a visit to the Minister of Industry, Trade and Investment, Adeniyi Adebayo. …

The 11th edition of the Orange Social Venture Prize in Africa and the Middle East (POESAM) has been launched. PARIS, France, March 9, 2021/ — Tuesday 9 March 2021 marks the start of submissions to the 11th Orange Social Venture Prize in Africa and the Middle East. Until 4 June 2021, entrants will be able to submit their projects on …

As part of its incentives to boost the inflow of foreign currency in the country, the Central Bank of Nigeria (CBN) on Saturday introduced a reward of N5 for every $1 of fund remitted to Nigeria through International Money Transfer Organisations in its new forex policy. The CBN announced the new policy in a circular to all deposit money banks, …

Dr Ngozi Okonjo-Iweala has officially resumed as Director-General of the World Trade Organisation (WTO).  As she took up her new role on Monday at the organisation’s headquarters in Geneva, Switzerland, the former Nigerian finance and foreign minister said she was eager to get straight to work as the first woman and first African to lead the global body. “I am …

ABIDJAN, Ivory Coast, February 24, 2021/ — Digital platforms in Africa should scale up to take advantage of the continent’s surging demand for creative content, said Africa Investment Forum Senior Director Chinelo Anohu, adding that the African Development Bank flagship entity is providing advisory services and investment support to creative players. The Africa Investment Forum was working to promote content …

In order to strengthen political dialogue and promote economic relations, Professor Robert Dussey, Minister of Foreign Affairs, African Integration and Togolese Abroad, held diplomatic talks on February 16, 2021 with his Russian counterpart, Foreign Minister Sergey Lavrov, in St. Petersburg. According to reports, Professor Dussey’s visit was on the invitation by Moscow, and came on exactly one year after their …

A look into the ban on cryptocurrency in Nigeria by Ibrahim Moshood and Oneyka Cindy Ojogbo, Associate and Senior Associate respectively of the international law firm Centurion Law Group In a letter dated 5 February 2021[1], the Nigerian government through its apex bank – the Central Bank of Nigeria (“CBN”) – clamped down on cryptocurrencies in Nigeria. The letter specifically …

Mastercard and MTN empower millions of consumers in Africa to make payments on global platforms, advancing digital financial inclusion · Partnership will enable millions of MTN customers to pay on global online platforms with a Mastercard virtual payment solution linked to MTN MoMo wallet · Mastercard’s technology will enable new digital commerce opportunities for consumers and merchants with or without …

The global pandemic has accelerated the need for true digitisation as African customers demand a more seamless digital customer experience from their communications service providers (CSPs), writes Pikie Monaheng, CEO at Amdocs South Africa JOHANNESBURG, South Africa, February 17, 2021/ —  It’s no secret that CSPs need to transform their businesses to compete in the continent’s highly competitive communications landscape …

The World Trade Organisation has confirmed Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala as the next Director-General. She is the first woman and the first African to lead the international trade body. According to a statement by the organisation on Monday, her term is scheduled to start on 1 March 2021. The term, which is renewable, will expire on 31 August 2025. …

Munich/Pforzheim, February 11, 2021 – Photovoltaics (PV) is booming in Europe, with around 18.7 gigawatts (18,700 megawatts) of new capacity installed last year. In addition to rooftop and ground-mounted solar module installations, the development of new areas of production – such as on façades, artificial bodies of water and fields – is key. Agrivoltaics involves the use of agricultural land …

The Central Bank of Nigeria has reacted to criticisms trailing its declaration that  the use of cryptocurrencies in Nigeria contravenes existing laws. The apex bank had issued a statement on Friday warning banks and other financial institutions to desist from transacting cryptocurrencies and dealing with entities who do same. According to the CBN in a new statement on Sunday, cryptocurrencies …

For the second time, Berlin is awarding prizes to entrepreneurs with a migration background operating in the city, which is also a federal state. The prize Vielfalt unternimmt – Berlin würdigt migrantische Unternehmen, first awarded in 2019, gives public recognition to the achievements of minority entrepreneurs who are contributing greatly to the economic development of the city. There are three …

Following a directive banning cryptocurrency trading by the Central Bank of Nigeria (CBN), Nigerians have expressed strong displeasure of the decision of the federal government under the leadership of President Muhammadu Buhari. In a circular dated 5th February 2021, the CBN notified banks and other financial institutions against doing business in Crypto and other digital assets. According to Wikipedia, a …

In an exclusive interview with our Moscow correspondent Kester Kenn Klomegah, a member of the newly created Public Council under the Secretariat of the Russia–Africa Partnership Forum, Armen Khachatryan, argues that the first Summit held in October 2019 ultimately seeks to inject a new dynamism into Russia-Africa relations. According to Mr Khachatryan, who is also Deputy Chief Executive Officer and …