Special

World’s biggest fair for food and agriculture opens in Berlin

The International Green Week has opened today in Berlin. The exhibition, which is the world’s biggest fair for food, agriculture and horticulture, will run until 29 January. In a total of 26 exhibition halls, about 1,500 national and international exhibitors present typical regional products and services and invite visitors to discover the world’s foods and other treats. The International Green …

Read More »

Germany’s ‘Marshall Plan’ for Africa unveiled in Berlin

German Development Minister Gerd Müller has presented his long-awaited new Africa strategy. He’s proposing a new level of development cooperation, as Daniel Pelz reports from Berlin. Fighting poverty in Africa is not just a moral obligation, but also in the self-interest of wealthy countries like Germany, German Development Minister Gerd Müller said as he presented his long-awaited “Marshall Plan” for Africa in …

Read More »

President Xi Jinping in Davos: Don’t Blame Economic Globalization for the World’s Problems

17 January 2017, Davos-Klosters, Switzerland – Chinese President Xi Jinping delivered a robust defence of globalization to business, government and civil society leaders in the opening plenary session of the 47th World Economic Forum Annual Meeting. China, Xi said, is committed to fulfilling its international responsibilities and contributing to addressing pressing global challenges, including climate change, the need for new …

Read More »

Eight billionaires own same wealth as half of world’s population, says Oxfam

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos. The eight individuals named in the report are Bill Gates, Inditex founder Amancio Ortega, veteran investor Warren Buffett, Mexico’s Carlos …

Read More »

Nigerians abroad remitted $35b so far in 2016

Remittances from Nigerians living abroad from January to November 2016 have hit $35 billion, Senior Special Assistant to the president on Foreign Affairs and the Diaspora, Mrs Abike Dabiri-Erewa has said. She revealed the figures on 20 December in Abuja when she paid a courtesy call on the Chairman, Federal Inland Revenue Service (FIRS), Tunde Fowler. She said she was …

Read More »

Cybercriminals target African countries with ransomware

JOHANNESBURG, South Africa, 21 December 2016,-/African Media Agency (AMA)/- Check Point, the largest global pure-play network cybersecurity vendor, has revealed that five African nations were among the top 10 most-attacked countries in November as cybercriminals made increasing use of ransomware attacks using the Locky and Cryptowall viruses. Botswana was the most-attacked country in Check Point’s list of 117 at-risk nations, …

Read More »

Nigeria to eliminate forex black market, says Finance Minister

Nigeria’s Finance Minister, Kemi Adeosun, has announced on Tuesday that the federal government had instructed the Central Bank to eliminate currency black market, where foreign currencies fetch more naira than the official rate. “The CBN has promised to do something by putting a system in place to eliminate the black market because it’s damaging the economy,” Ms Adeosun told a …

Read More »

Egypt sees ‘three-year strategy’ to revive economy

AFP│ Egypt has an ambitious three-year reform plan that, with foreign help, can revive its struggling economy, the minister of international cooperation said. In an interview, Sahar Nasr said the “three-year strategy” will lead to a return of investments, boost industrial production and create jobs.  It comes as Egypt faces not only falling growth and a currency crisis following years …

Read More »

How Zimbabwe is responding to limitations of hydro power

James Shepherd, Managing Director, Aggreko Africa, on how his company is partnering with the government of Zimbabwe to solve the country’s energy crisis caused by extended drought in the region. There are parts of Zimbabwe where consistent drought is putting intolerable pressure on local communities. Indeed, many rural areas are in difficulty thanks to the impact of the extreme weather, …

Read More »

Nigeria bans importation of vehicles through land borders

The Federal Government of Nigeria has banned the importation of vehicles into Nigeria through the land borders. The ban takes effect from 1 January 2017. According to a statement by the Public Relations Officer of the Nigerian Customs, Wale Adeniyi, “The prohibition order covers all new and used vehicles.” He added, “The ban is sequel to a Presidential Directive restricting …

Read More »

Using training and technology to help women entrepreneurs in Africa grow their business

Njideka Harry, in commemoration of this year’s Women’s Entrepreneurship Day, writes on how Youth for Technology Foundation in partnership with Mastercard supports two women’s journey to self-fulfillment and financial freedom in Africa’s most populous country. Statistics show that female entrepreneurs in Africa serve as the backbone of the economy and have the power to drive incredible growth. A Global Entrepreneurship …

Read More »

Scepticism greets Zimbabwe’s new bond notes

Struggling with a shortage of cash Zimbabwe has introduced a new currency, a “bond note”, redeemable against US dollars, which has been the country’s official currency since 2009. However, many people fear the bond note will wipe out savings and trigger printing of money, which raged out of control in 2008, leading to the adoption of the dollar. The secrecy …

Read More »

Volkswagen to build car assembly plant in Algeria

Volkswagen has signed a deal with its Algerian sales partner Sovac for the construction of a vehicle assembly plant in the North African country, officials told a news conference on Sunday [26 November]. Under the deal, worth 160 million euros, the plant will produce its first car in June 2017 and is expected to increase output to more than 100 …

Read More »

German-South African Binational Commission meets in Berlin

On 15 and 16 November, the 9th session of the German-South Africa Binational Commission took place in Berlin. High ranked representatives from both countries come together every other year to debate on global challenges and establish an agenda for future joint co-operation. The Binational Commission (BNC) is an important instrument to steer intra-governmental relations between Germany and South Africa. On …

Read More »

Lagos woos German investors as Charles Huber visits Nigeria

The Speaker, Lagos State House of Assembly, Mr Mudashiru Obasa, has said that the state, Nigeria’s most populous and its economic heartbeat, remains a prime destination for foreign investors, considering its improved infrastructure and secured environment. Obasa made the assertion when a delegation of German parliamentarians paid a courtesy call on him in his office at Ikeja on Monday, 31 …

Read More »

MoneyGram offers transfers into personal bank accounts in Nigeria

MoneyGram now offers customers in France, Germany, Ireland, Italy and Spain the possibility of sending money directly into personal bank accounts in Nigeria. Users of the MoneyGram’s cash to account service in the European countries can send money to friends and family in Nigeria who have bank accounts with First Bank, UBA, Ecobank, Fidelity, GTB, Zenith Bank and other banks …

Read More »

Mauritius, Rwanda, South Africa make doing business easier, says new World Bank report

WASHINGTON, 25 October 2016 – Sub-Saharan Africa economies carried out a record number of reforms in the past year to improve the business climate for local entrepreneurs, says the World Bank Group’s annual ease of doing business report. “Doing Business 2017: Equal Opportunity for All,” released today, finds that 37 of the region’s 48 economies adopted 80 reforms in the …

Read More »