Special

The Central Bank of Nigeria has warned operators against paying recipients of diaspora remittances in local currency despite the existing directive requiring them to pay in foreign currency, especially in US dollars. The apex bank warned that violators of the order, which it issued on 3 December, could lose their operational licences if they failed to comply with its guidelines …

Netflix has announced it has appointed top Zimbabwean businessman and philanthropist Strive Masiyiwa to its board. Masiyiwa is the founder and executive chairman of Econet Global, a telco company that traverses 29 countries in Africa, Europe, Asia and Latin America. Econet group offers mobile payment, broadband distribution and satellite services. His appointment is interpreted by analysts as a strategic move …

Our contributing editor Kester Kenn Klomegah reports from Moscow on a recent conference on how Russia seeks to increase its economic engagement with African countries as the country reels under US and EU sanctions   On 23 November, Russian Senators and experts gathered to discuss the export of non-oil Russian commodities to Africa at an interactive webinar organised by the …

  The L’Oréal-UNESCO For Women in Science Programme recognizes South African female Scientists for their groundbreaking research JOHANNESBURG, South Africa, December 17th, 2020,-/African Media Agency (AMA)/- 2020 marks the second edition of the L’Oréal-UNESCO For Women in Science South African National Young Talents Programme. The programme supports young female scientists and rewards scientific excellence. Created in 1998 and led by …

JOHANNESBURG, South Africa, December 14, 2020 -/ African Media Agency (AMA)/- The SAP Young Professional Program, which forms part of the broader Skills for Africa initiative, has extended its footprint with a revised, fully virtual model that has enabled young candidates in several African countries to participate in the program, despite the pandemic. Since its launch in 2012, the program …

Despite allegations of malpractices by the opposition, our contributing editor, Kester Kenn Klomegah, explains why Ghana’s latest elections are a good sign for the country   Ghana has admirably shown its democratic credentials by holding another peaceful elections, both presidential and parliamentary, early December. In a tightly contested presidential election, Nana Addo Dankwa Akufo-Addo, an experienced politician and highly successful …

An association of German companies and institutions active in Africa has hailed the re-election of Ghana’s President Nana Akufo-Addo. In a press statement issued on Monday (14 December), Afrika-Verein der deutschen Wirtschaft e.V. said Akufo-Addo’s victory at the country’s recent elections signals political continuity and creates security for companies doing business in the country. “The re-election of incumbent Nana Akufo-Addo …

Dr RosaLyn Dressman, president of the Nigerians in Diaspora Organisation Germany (NIDOG), has been appointed Ambassador for Investment of Bayelsa State by Governor Douye Diri. With a population of about 1.7 million, Bayelsa, one of Nigeria’s 36 federal states, is situated in the southern coastal region of the country and is rich in oil and gas deposits as well as …

  Africa’s internet economy is booming. According to a report by the World Bank, Africa will add $180 billion to its economy by 2025, thanks to the recent growth of its eCommerce activities. One good example has been the current aggressive expansion of MallforAfrica,  which will now be available to consumers in Senegal, Sierra Leone, and nine other new markets. Other …

As part of efforts to connect Russia with Nigeria and to lure potential Russian investors and businesspeople to Nigeria and vice versa, a business lecture platform “Doing Business with Nigeria” has been created in November. Its primary aim is to get the Russian business community to understand the economic and investment potential as well as the current market conditions in …

ARC Power, a British Startup, is currently helping Rwanda, a member of the Southern African Development Community (SADC), with Solar Business Parks alongside its roll-out of solar mini-grids – a collection of solar-powered commercial units – the latest energy initiative to light up Rwanda. Rwanda is increasingly adopting solar energy due to its affordability and easy accessibility to electricity for use in both …

Webb Fontaine has been presented with a double header of prestigious titles at this year’s Nigerian Technology Awards (NiTA). A leading provider of solutions for Trade Facilitation powered by Artificial Intelligence, Webb Fontaine was one of the event’s big winners, landing the two of the most sought-after honours: Most Enterprising Tech Company of the Year and Most Enterprising Tech CEO …

President of the African Development Bank Group, Akinwumi Adesina, has said up to 30 million jobs would be lost in Africa by the end of 2020. According to the former Nigerian agriculture minister, while speaking at the ‘Virtual 2020 International Forum on African Leadership’ in Ivory Coast, the lockdown occasioned by the COVID-19 pandemic earlier this year dealt a terrible …

Nigeria has ordered International Money Transfer Operators (IMTOs) offering remittance services to the country to pay recipients of money sent to the country from abroad in the foreign currency used by the senders it they so desire. This means, if you send 500 euros from Germany to your sister in Nigeria, she must be paid 500 euros or the equivalent …

PRESS RELEASE – ESPRIT Group and Honoris United Universities Join Forces to Accelerate STEM Education in Africa.  Tunis, 1 December 2020 – Today, Honoris United Universities, the first and largest pan-African network of private higher education institutions, deepened its focus on STEM education for the next generation of African leaders and entrepreneurs by welcoming ESPRIT Group into the organization. Founded in 2003 …

Dr Ngozi Okonjo-Iweala, chair of Gavi, the Vaccine Alliance, has been unveiled as the recipient of its 2020 African of the Year Award.  The former Nigerian finance minister was ceremoniously awarded during a special broadcast on CNBC Africa on Monday night. This year marks the 3rd annual instalment of the African of the Year Award, an honorary category of the …

Austrian professional footballer David Olatokunbo Alaba has been appointed by the government of President Muhammadu Buhari as a Clean Nigeria Campaign Ambassador. Alaba, who plays for German club Bayern Munich and the Austria national team, was appointed to support the country’s efforts towards the attainment of the Sustainable Development Goal (SDG) Number 6, aimed at providing clean water and sanitation …

How to support Africa’s recovery from the impact of the Covid-19 pandemic through increased multilateral co-operation was the focus of G-PAD 2020, which took place on 27-28 November. Several speakers at the virtual conference, organised by the Germany-based global non-governmental organisation Lead Africa International e.V., agreed that the global crisis had revealed the fundamental structural weaknesses in African economies and …

How to deploy digital solutions to drive post-Covid African recovery was a major focus at the 2020 Global Partnership for African Development (G-PAD) forum, which took place on 27-28 November. At a panel discussion on how digitalisation can help promote economic growth and development in Africa, entitled Digitization and Development: The African Perspective, Sunil Geness, Director for Global Government Affairs …

The global coronavirus pandemic is having a devastating impact on the economies of countries around the world. Africa is one of the regions worst affected as state revenues have taken a big hit. The structure of the continent’s external trade is to blame for the particularly harsh effect of COVID-19 on African countries, Khaled Sheriff, Vice President, Regional Development, Integration …