Morning boats leave a quiet Pacific inlet, diesel hum in the air, gulls loud and nosy. News travels fast there. The $24.5M Grant from Bezos Earth Fund to Launch First Cross-Border Marine Biosphere Reserve in Latin America sets a clear signal. A large, practical step. Not theory. And yes, it anchors the phrase many groups […]
Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
Dangote Cement exports from Nigeria to neighbouring countries fell 41% in 2019 when Nigeria’s government closed the land borders. The development has made the dominant cement company in Africa move its exports to Congo Republic, producing from plants in those countries. Nigeria shut its land border in August to curb the smuggling of rice to […]
The port of Pointe Noire is constantly expanding. President of the Republic of Congo Denis Sassou Nguesso on Wednesday inaugurated new infrastructure for the Congo terminal. It is the concessionaire of the Autonomous Port of the Congolese economic capital. Managers of the port hope this will further consolidate its position as a transit country. “The […]
Talal Abu-Ghazaleh International Organization, said that Egypt’s economy is set to become the sixth strongest in the world by the year 2030, during an interview with Russia Today (RT) on Thursday, February 20. Highlighting a US study, Ghazaleh pointed out that Egypt will follow close behind the globe’s major economies in 2030, such as China, […]
MCAs want county assemblies to be financially independent in proposals to the Building Bridges Initiative. The County Assemblies Forum said the county assemblies’ financial autonomy was key to the proper dispensation of their mandate as well as respect for separation of powers. The forum is pushing for a complete financial de-linking of county legislatures from […]
Finance Minister in an interview with the Sunday Mail said the mono currency situation is here to stay and the government wants to enforce the use of the Zimbabwe Dollar and they will penalise those who deviate from charging and pricing in local currency. Said Professor Mthuli: Zimbabwe is in a mono-currency situation. We introduced […]
Rabat – Rand Merchant Bank (RMB) has named Morocco the second most attractive country for investment in Africa, emerging stronger than South Africa and second only to Egypt in the bank’s 2019 index. The index, “Where to Invest in Africa,” aims to provide easily digestible data and analysis to firms considering investing in Africa. The […]
The joint South African Airways (SAA) business rescue practitioners (BRP) on Sunday defended steps taken to turn the embattled airline around, but also pledged to continue engaging stakeholders and to include inputs in the final business rescue plan. The BRPs, Les Matuson and Siviwe Dongwana, have noted the comments made by the relevant unions, the […]
Wema Bank Plc has reported a 32.5% increase in its after-tax profit for Full Year 2019 compared to the corresponding period of 2018. The full account of the bank’s financial performance in the review period is published in its Unaudited Financial Statements for the Period Ended 31 December 2019, posted on the website of the […]
With crude oil prices shedding over $11 per barrel this year to $55, thus alarming the producers, a panel set up by the Organisation of Petroleum Exporting Countries (OPEC) and its allies have recommended a provisional cut of 600,000 barrels per day in oil supply to the international market, in response to the Coronavirus outbreak, […]
Foreign investors have overlooked pertinent domestic risks and rushed into rand-denominated bonds, prompting the yields on 10-year government bonds to fall to their lowest levels in almost five months on Thursday. Global markets recovered this week as efforts to tackle the deadly coronavirus and positive news regarding US-China trade ties lifted investor sentiment. Foreign investors, […]
Cell C, which has defaulted on almost R3bn of debt, said on Wednesday it had renewed its sponsorship agreement with Sharks Rugby. “Our sponsorship over the last six years has proven exceptionally valuable as a brand engagement platform for our customers as we endeavour to connect with them through their passion whilst driving key brand […]
South African billionaire Patrice Motsepe apologized for telling U.S. President Donald Trump that Africa loves him, but warned the growing perception that the continent is anti-America may hamper investment. Motsepe’s remarks to Trump at a business dinner during the World Economic Forum in Davos last week sparked a debate among his countrymen who questioned his […]
Nigeria’s Minister of Communications and Digital Economy, Dr. Isa Pantami, has urged the 36 states of Nigeria to key into the nation’s policy of national digital economy and strategy designed to fast-track growth.President Muhammadu Buhari had unveiled the National Digital Economy Policy on November 29, 2019 under the Ministry of Communications. The policy is part […]
Genghis Capital, one of the leading investment banks in Kenya on Tuesday released a report predicting that the Nairobi Securities Exchange (NSE) will offer both local and foreign investment opportunities for the year 2020.According to the report, the year presents an opportunity to investors to continue diversifying their portfolios, and post positive returns, in a […]
President Muhammadu Buhari has unveiled progress of his administration and the strides in agriculture, leading almost to self-sufficiency in rice and other grains.He told British Prime Minister Boris Johnson on Monday in London on the side line of the UK-Africa Investment Summit that the gains in agriculture had saved the country billions of dollars, which […]
The United Kingdom is positioning itself to be the ‘investment partner of choice’ for Africa, holding a summit with leaders of 21 African countries on Monday, days before it leaves the European Union (EU). Britain’s prime minister, Boris Johnson, who secured the country’s January 31st departure from the EU trading bloc is determined to enter […]
The African Continental Free Trade Area (ACFTA) will top discussion as Dr Akinwumi Adesina, the President of African Development Bank (AfDB) is expected in London for the milestone investment summit. The bank’s Communication and External Relations Department made this known in a statement in Abuja on Friday. The AfDB said new opportunities for bilateral trade […]
Six West African countries have criticised what the changes of the regional CFA Franc currency to Eco, saying its not in line with what was agreed for the adoption of a single regional currency. Last month, French president Emmanuel Macron and his Ivorian counterpart Alassane Ouattara announced that the West African Economic and Monetary Union […]