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BUSINESS & DEVELOPMENT

BREAKING! Nigeria: Buhari appoints new Economic Advisory Council

A new body replacing the economic management team led by Vice-President Yemi Osinbajo has been appointed by President Muhammadu Buhari on Monday. The announcement, which was contained in a statement by the Special Adviser to the President on Media and Publicity, Femi Adesina, gave details, “This advisory council will replace the current Economic Management Team and will be reporting directly …

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Ethiopia unveils blueprint to create ‘economic miracle’

The government of Ethiopia has unveiled what it describes as a “Homegrown Economic Reform” agenda aimed at unlocking the country’s development potential. “Several months in the making and spearheaded by some of Ethiopia’s finest minds, our initiative aims to propel Ethiopia into becoming the African icon of prosperity by 2030,” said Prime Minister Abiy Ahmed of Ethiopia. He made the …

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African women hold entrepreneurship conference in Berlin

Women in Tech Week 2019, an event that celebrates women globally in the technology and entrepreneurship space, will hold in Berlin, Germany, on 9 October. Organised by Women in Tech Africa and sponsored by SAP SE – the German multinational software corporation that makes software for the management of business operations, the theme of this year’s event is “Scaling Technology …

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What Dark Continent? Understanding Investment Opportunities in Africa

Muftau Muyiwa* writes on the changing narrative of Africa. Once depicted as a “hopeless” place incapable of installing and sustaining democratic rule or effective governance, it’s now being trumped as a continent of opportunities. The author explains that Africa has always been a haven of business and economic opportunities and what the world must do engage the continent’s reality to …

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Deutsche Telekom rolls out 5G mobile network in 5 German cities

Deutsche Telekom has announced that its 5G mobile network had gone live in five German cities. 5G is the fifth generation cellular network technology, offering faster speeds and more reliable connections on smartphones and other devices than ever before. Deutsche Telekom, the German communications market leader, paid 2.2 billion euros for 5G spectrum at a recent auction and the regulator …

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Afrolynk holds Africa Tech & Entrepreneurship Week in Berlin

Afrolynk, an organisation that promotes increased African-European business relationship with a focus on technology, will hold its 2019 conference in Berlin, Germany, from 16-20 September. The five-day ‘Africa Tech & Entrepreneurship Week’ will feature workshops, an ecosystem tour and a start-up night.    This year’s conference, with the theme ‘strategic partnerships for sustainable growth’, will focus on how to transform businesses …

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More than a quarter of development aid funds remains in donor countries – study reveals

More than 25 percent of development aid funds are not spent in developing countries, according to a new study, which shows that expenditure on refugees in Germany takes increasing share of overseas assistance. Researchers warn of the risks of this policy. A significant part of funds for development aid is spent by rich donors within their own borders. This is …

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German software giant SAP honours outstanding African digital successes

The SAP Quality Awards were established in 2005 as a means of recognising companies that have excelled in their use of SAP technologies to achieve digital transformation against a number of key metrics. This year, a total of 19 organisations from West, East and Southern Africa were recognised for their outstanding results across a number of successful implementations.

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Experts deliberate on the future of work in Africa at Accra summit

More than one hundred Human Resource (HR) Professionals have gathered in Accra for the 2019 Ghana HR Summit organised by Mercer, a global consulting leader in advancing health, wealth and career , in partnership with Learning Organisation Ghana to brainstorm on the future of work and how it will be created.  The two-day Summit which started on 13 August 2019 took …

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Europe-based dealers alarmed as China begins export of used cars to Africa

Until now, used vehicles sold in most African countries are usually from Western Europe, United States and Japan. The announcement that China had joined the trade of supplying second-car cars to the continent is causing jitters among other exporters. The news came unexpectedly two days ago. The Chinese Ministry of Commerce announced that it had commenced the export of used …

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Business association wants to fund Germany-based companies to invest in Africa

A business association wants to lure German start-ups with millions of euros to the African continent. They should benefit from the economic upturn there. The Germany Africa Business Forum (GABF) wants to promote German energy start-ups with several million euros. This was announced by the private association, which has its offices in Berlin and Johannesburg. GABF co-founder Sebastian Wagner said: …

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Why sending money to Africa more expensive than to other continents

Money sent by people living outside their countries of origin accounts for the largest foreign exchange inflow for many nations, indicating the huge importance remittances have assumed as a factor of economic development. For example, Africa received an estimated US$65 billion in remittances in 2018. Sending money to the continent is however more expensive than sending to any other region …

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Can Siemens save Nigeria’s chaotic power sector?

The Nigerian government has agreed to a deal with the German energy company in an attempt to fix the country’s unreliable electricity grid. But will the agreement bring succour to Nigerians who have been suffering under inadequate power supply for decades? Ineke Mules of DW (Deutsche Welle) reports Nigeria has signed a six-year power deal with German energy giant Siemens, which …

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Outstanding African projects win awards in Berlin

Many organisations and individuals working on African issues presented their work to the public at the Fair for Bridge Builders (Messe der Brückenbauer), part of the activities celebrating the Kenako Afrika-Festival in Berlin (3-14 July). The fair is a platform for committed people from Germany and the African diaspora to exhibit their projects for the development of Africa and present …

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Young Ghanaian innovator shows Africa’s future lies in its talented youth

Self-taught coder develops model for diagnosing breast cancer; looks to solve some of the continent’s biggest challenges and inspires youth across the continent as Africa Code Week Youth Ambassador for 2019. “It takes a village to raise a child”: as the Fourth Industrial Revolution sweeps across Africa and more of its youth develop coding and other digital skills, there may …

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Event on funding opportunities for Afro-European businesses holds in Hamburg

Afrolynk, an impact venture that supports and connects innovators, entrepreneurs and other stakeholders in the EU-African market, have partnered with Dr. Akuma Saningong, a master communicator, in unlocking the potential of African business ventures. Afrolynk will hold a Community Meet-Up on 10 July in Hamburg and it’s inviting attendees from Hamburg’s business sector, including start-ups, NGOs and public and private …

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