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Owning a house in their home countries is a common investment Diaspora Africans have to make. They do so for a variety of reasons. Building a home at home is like building a future at home as many migrants would like to spend life after retirement in their countries of origin. Some also build to provide a home for ageing …

Germany’s Development Minister Gerd Müller has called for more German engagement in Africa at the just concluded 2nd German-African Business Summit  in Nairobi. He argues that investments help reduce poverty. Daniel Pelz reports. Dr Gerd Müller does not hesitate. With a huge smile, the minister picks a white coat and heads to the manufacturing hall of Kevian, a leading Kenyan …

The 2nd German-African Business Summit (GABS) takes place in Nairobi, Kenya from 8 to 10 February 2017. The first edition of the event, held in Berlin in September 2015, provided a forum for some 400 participants from the worlds of business and politics, from Germany and Africa, to discuss Africa’s prospects and potential and to make new contacts. In his …

Germany’s ‘Marshall Plan’, which calls for an equal partnership to industrialize Africa, has received positive feedback among African business leaders at the World Economic Forum in Davos, which took place from 17-20 January. But some are a bit wary, reports Martina Schwikowski. Germany’s Marshall Plan with Africa has received a lot of praise but also criticism. Some call the economic plan too …

The Federal Government of Nigeria and General Electric (GE) are in talks over the planned concession of railway projects in the country on the basis of Public Private Partnership. “We are negotiating with GE to take over the narrow gauge from Lagos to Kano-Funtua-Yobe, and from Port Harcourt to Borno,” Nigeria’s Minister of Transportation, Chibuike Rotimi Amaechi, has said. He …

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 …

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 …

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 …

The 2nd German-African Business Summit (GABS) will take place in Nairobi, Kenya from 8 to 10 February 2017. The first edition of the event, which took place in Berlin in September 2015, provided a forum for some 400 participants from the worlds of business and politics, from Germany and Africa, to discuss Africa’s prospects and potential and to make new contacts. …

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 …

A recently published study on the long-run effects of mobile money on economic outcomes in Kenya provides some valuable insights that will benefit economic development and financial inclusion policies across Africa.

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 …

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, …

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 …

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 …

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, …

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 …

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 …

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 …

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 …