BUSINESS

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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First “Made in Rwanda” Volkswagen rolls off assembly line

Rwanda took a big step forward in its quest for industrialisation on Monday when the first “Made in Rwanda” Volkswagen Polo rolled off the assembly line in the Kigali Special Economic Zone. President Paul Kagame, personally graced the “historic moment” and he expressed his delight to see German vehicles produced in his country. He described the event as “a pride …

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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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German government, SAP join forces to create more jobs in Africa’s digital sector 

German software company SAP and the German Federal Ministry for Economic Cooperation and Development (BMZ) plan to jointly create 450 jobs for highly qualified personnel in the IT sector in ten African countries. The collaboration, which was presented in Berlin today by German Development Minister Gerd Müller and by Michael Kleinemeier, member of the Executive Board of SAP SE and …

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US launches economic initiative for Africa in Maputo

US-Africa Business Summit successfully advances trade, investment and commercial partnership between the US and Africa Heads of State, Vice Presidents, and Prime Ministers from nine African nations attended the Corporate Council on Africa’s 12th US-Africa Business Summit in Maputo, Mozambique on June 18-21. They were joined by Ministers of Finance, Foreign Affairs, Commerce, Economy, Public Works, and ICT from more …

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Nigeria: Diaspora remittances exceeded oil earnings in 2018 – forex dealers’ association

Concerned with the stagnant state of the nation’s economy marred with inconsistent foreign exchange earnings through oil export, the Association of Bureaux De Change Operators of Nigeria (ABCON) has disclosed that forex remittances from Nigerians in the Diaspora far exceeded the country’s earnings from crude oil export last year. The President of ABCON, Alhaji Aminu Gwadabe, who disclosed this to …

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Rwanda opens first gold refinery

Rwanda has opened its first gold refinery to process gold from all over Africa and to discourage the export of the minerals from the continent. The new refinery, built at a cost of $5 million by Aldango Company is located at the Kigali Special Economic Zone in Gasabo District. Aldango which was previously running as a business dealing in gold …

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