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Koroma woos foreign investors for post-Ebola growth Sierra Leone is still counting the costs of the Ebola epidemic, not least on its economy which contracted in 2014 and 2015, after several years of solid growth. Now the West African country is trying to woo back investors and attract new ones. Though Sierra Leone has been declared free of the dreaded …

The Central Bank of Nigeria (CBN) has licensed 11 new International Money Transfer Operators (IMTOs). The new entrants are joining Western Union, MoneyGram and Ria, which had been cleared by the CBN in early August. The new operators are Trans-Fast Remittance LLC; WorldRemit Limited, UAE Exchange Centre LLC; Wari Limited, Homesend S.C.R.L, Small World Financial Services Group Limited and Weblink …

Sequel to the decision of the Central Bank of Nigeria (CBN) allowing only three companies to offer money transfer services to the country, MoneyGram International, Inc. has announced a renewed commitment to its operations in Nigeria. The CBN decision, announced on 2 August, named Western Union, MoneyGram and Ria as the only officially licensed providers of remittance services to Nigeria. …

One study has found that entrepreneurs with foreign backgrounds in Germany have created around 1.3 million jobs in Germany. The study said the cliché of migrants owning Dönner shops and kiosks does not reflect reality. The number of business-owners with migrant roots and the people they employ has risen in Germany, according to a Bertelsmann Foundation study released recently. “We …

Afrika-Verein demands more action from the German government as Uganda’s President Museveni makes case for investing in Africa. The federal government must do more to encourage a greater engagement of German companies in Africa, demanded Dr Stefan Liebing, chairman of Afrika-Verein, at this year’s German Africa Business Day in Berlin. He called for the removal of hurdles preventing German companies …

The Central Bank of Nigeria (CBN) has announced that only three companies are henceforth allowed to offer money transfer services to Nigeria. The three operators are Western Union, MoneyGram and Ria. The decision was backed by a warning, issued on Tuesday, 2 August, which advises Nigerians at home and abroad to “beware of the unwholesome activities of some unlicensed International …

The International Decade for People of African Descent, 2015–2024, was proclaimed by the UN General Assembly and adopted on 23 December 2013. The theme of the Decade is “People of African descent: recognition, justice and development”. The Decade highlights the human rights situation of the African diaspora worldwide and aims to fight racial discrimination and create visibility for the contribution …

How Africa can learn from Germany’s successful ongoing transition to renewable energy was the theme of the 10th German-African Energy Forum, which took place recently in Hamburg, reports Femi Awoniyi. Willi Meixner, chief executive of the Power and Gas Division of Siemens AG, has advised African countries to focus on creating an encouraging regulatory environment if they are to attract …

The journey has been an arduous one. The historian Paulette Reed-Anderson informs us that in 1682, a ship bearing slaves from Africa docked in Hamburg. Twenty-five years later (1707), African musicians are employed in Prussian military units and Mohrenstrasse is christened in Berlin. By 1877, however, the first of the dreadful Völkerschauen (‘ethnographic exhibitions’) were staged in Hamburg and Berlin.  …

Charles Mohamed Huber, MP (Bundestag)  The former TV actor (59) was born in the Bavarian city of Munich to a Senegalese father and a German mother. Huber, who represents the western city of Darmstadt in the Federal Parliament, was the first Black actor in a national TV series, “Der Alte”, where he played the inspector Henry Johnson. The member of …

A number of leading Russian companies plan to invest US$4.6 billion to create an industrial zone next to the Suez Canal by 2035, Lenta.ru cites the Russian Trade Ministry in a new report. Most of the money will come from private investors. Russian companies Kamaz, GAZ, UAZ, Transmashholding, Gazprom Neft, Tatneft, Inter RAO and others will be part of the …

As part of the massive expansion of its operations in Germany, the global CEO of the worldwide operating money transfer provider MoneyGram, Alex Holmes, was in Frankfurt recently to open the company’s new head office in Germany. The occasion provided opportunity to talk about money transfer in a time of refugee crisis and the social responsibility of operators in the …

The UK Authorities charged with enforcing the EU timber regulations (EUTR), have taken action against 14 UK importers sourcing timber from Cameroon linked to illegal logging.[1] Green Peace Press Release This news was presented at a Chatham House meeting in London on June 16, following comparable action by the Netherlands in early March, demonstrating that timber from Cameroon is coming …

Remittance business undergoes silent revolution Before Western Union started offering money transfer services to Africa in 1995, the first company to do so, it used to take weeks if not months to find somebody travelling home to take the envelope along. And the brave ones among us who hid money in mails were often unlucky after post office workers in …

Because of unfavourable demographic developments, Germany is in dire need of foreign skilled workers. To persuade them to choose Germany over other countries, the Federal Republic is even reviewing its almost institutionalised reservations vis-à-vis migrants and foreigners. Migrants already living in Germany can get their professional certificates and degrees earned abroad recognised thanks to a special law, and the government …

The Initiative Schwarze Menschen in Deutschland (Initiative of Black People in Germany or ISD) marked the 30th anniversary of its founding recently. The ISD is the first and the most important group formed by the African diaspora after World War II in this country for the promotion of its interests. Although Blacks have not attained the level of social prominence …

At the end of his three-nation African trip in June, Pranab Mukherjee, the Indian President, said: “We have, through these visits, conveyed the message that India takes its engagement with Africa seriously and intends to follow up with determination on the announcements made at the India-Africa Forum Summit. India is committed to further consolidate our cooperation with all African countries.” …

Ethiopia seems to be attracting the attention of economists interested in Africa, and for good reason. Except for Rwanda, Ethiopia is the only African country whose economic growth has been consistently high for more than a decade without relying on a natural resource boom. Between 2004 and 2014, per capita growth in Ethiopia was 8% per year. This was the …

Africa Finance Corporation (AFC) has announced its acceptance of a US$150 million 15 year loan facility from German development bank KfW. The loan agreement was signed on 22 June in London by Andrew Alli, CEO of AFC, and Jan Martin Witte, Head of Division for Infrastructure at KfW. The funds will be used to refinance projects across the corporation’s current …

Ghana is very serious about attracting foreign investment, says Mawuena Adzo Trebarh, chief executive of the Ghana Investment Promotion Centre (GIPC). During an exclusive interview with our correspondent Francis Sackitey in Accra recently, she talked about the incentives offered by her country, the preferred sectors for investment and the advantages of doing business in Ghana, among other issues. Why should …