BUSINESS

Business is booming in Africa, tipped as a continent to watch in the coming years. This is principally because African economies have experienced an influx of foreign investment interest and an explosion of local entrepreneurship in recent years. From the continent commanding the spotlight on solar energy to the businesses propelling the ‘Made In Africa’ label across the globe, the business world …

A total of 31.41 per cent of goods imported into Nigeria are from China, the National Bureau of Statistics (NBS) has reported. The NBS revealed in its latest report on ‘Foreign Trade in Goods Statistics’ for the second quarter of 2020, that Spain topped the list of Nigeria’s exported goods. “Nigeria’s imports, by country of origin, shows goods were imported …

When the coronavirus pandemic spread in early 2020, economies around the world closed down and most people were relegated to remote work. But for the young African professionals taking part in the latest AFRIKA KOMMT! programme, the pandemic brought the additional challenge of being in a foreign country and taking part in a highly competitive programme. According to Ilka Wiskemann, …

The African Continental Free Trade Area (AfCFTA) agreement was initially scheduled to enter into force in July 2020. As a result of the COVID-19 pandemic, the commencement of the implementation of the continental deal has been postponed until January 2021. NJ Ayuk*, international legal practitioner and founder of one of Africa’s most successful law chambers, explains why the global health …

“In many African countries, debt service payments take up more place in the budget than investments in education, health or social security. Not only do they lack the financial leeway to effectively tackle the corona crisis in their countries, but in the worst case, they are even threatened with national bankruptcy”

After Senator Johnston Arthur Sakaja’s recent brush with the law over flouting Covid-19 restrictions, the legislator has got back to doing what legislators do best. Drafting bills. His latest brainchild is the Kenyan Diaspora Startup Bill 2020. The bill has good intent but is weak in practice, argues David Monda.  The Kenyan Startup Bill 2020 is an innovative bill that …

Employees of African origin in Berlin’s tech companies have started a group to promote diversity in the sector. Called “Black in Tech Berlin”, the group networks and shares ideas to bring change in the industry, where Black people are underrepresented. It counts six hundred members and was founded by Kave Bulambo, who is originally from the DR Congo but grew …

A new magazine, published bimonthly and bilingual in English and German to serve self-employed Africans in Germany, was launched at a colourful ceremony on Saturday in the western German city of Dortmund. The African Merchant (TAM) would support African entrepreneurship by focusing on opportunities and challenges of self-employment in Germany, Dr Rosalyn Dressman, publisher of the new magazine, said at …

“Illicit financial flows rob Africa and its people of their prospects, undermining transparency and accountability and eroding trust in African institutions”

Kenya’s President Uhuru Kenyatta is currently on a visit to Paris to sign major agreements with French companies on water, infrastructure and energy and attend events to further Franco-Kenyan economic and political ties.. President Uhuru Kenyatta kicked off his 5-day official visit to France on Wednesday evening at Elysee Palace where he was received by his host, French President Emmanuel …

The publication of the magazine is a response to the increasing numbers of Africans entering self-employment as a defensive response to difficulties in accessing jobs commensurate with their qualifications and experience. Many are also establishing businesses to respond to market opportunities.

"All across Africa we’re seeing immense talent in the tech ecosystem, and I’m proud that with the upcoming opening of our new office, we’ll be building products for the future of Africa, and the rest of the world, with Africans at the helm. We look forward to contributing further to the African tech ecosystem.”

NJ Ayuk, founder of one of Africa’s most successful law chambers, supports the Senegalese leader's call on the G20 to help African countries balance their obligations to international creditors with their obligations to their own citizens in the face of the COVID-19 pandemic. He explains why debt relief is crucial to Africa's recovery from the economic fallout of the global health crisis

  As Africa starts its recovery efforts against the immense challenges caused by the Covid-19 pandemic, Pedro Guerreiro, Managing Director for Central Africa at SAP – the global leader in enterprise software,  takes a closer look at the continued economic success story of the East African region and argues why it is an example for how the rest of the …

The Economic Community of West African States has postponed the planned launch of its single currency, the Eco. The body agreed to maintain a gradual approach for the launching of the currency. ECOWAS explained that a new date for the launch would be announced later. This was contained in a communiqué issued at the end of the 57th Summit of …

“Covid-19 also opens up new opportunities and a greater sense of urgency to build Africa’s manufacturing capacity, industrial development, and critically-needed industrial value-chains that must be supported by enabling infrastructure and policies"

The leading pan-African banking group Ecobank has won the Award for Innovation in Financial Services at the 2020 edition of the prestigious African Banker magazine Awards. The Awards, which reward banking excellence in Africa, were announced at a virtual ceremony held on 26 August. The African Banker’s judging process sought to recognise the African banks that have demonstrated original and …

President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has been reelected to a second 5-year term by the Board of Governors of the international financial institution. The election took place at the bank’s annual general meeting held via video conferencing on Thursday. Adesina was the first AfDB president to be re-elected with 100% votes of both African and …

Ecobank Group, the pan-African banking giant, on Thursday announced the winners of its Ecobank Fintech Challenge 2020 after an exciting virtual event streamed live from Accra, Ghana. Nokwary Technologies, edged out the rest of the finalists to emerge winner of the competition. The first and second runner up spots were taken by Ukheshe Payment and Solutions Growth Factor Technologies respectively. …

The Jack Ma Foundation’s search for Africa’s Business Heroes continues, with the top 20 finalists revealed on 19 August – representing over 50% female candidates, 11 key sectors and 14 countries: the twenty finalists have impressed the judges with their vision and entrepreneurial prowess, and are ready to progress to the semi-finale stage of the competition, for a chance to …