Mobile money has turned into the main money rail across parts of Africa. The shift looks simple on the surface, but it is big: How Mobile Money Became More Powerful Than Banks in Parts of Africa is now a real business story, not a slogan. Telecom-led wallets, agent points, and quick transfers have reached markets […]
A Bahraini entrepreneur has announced the opening of a new smart cities management firm to transform the way modern cities work and develop. The company that has been created aims at providing holistic digital solutions that improve mobility, infrastructure effectiveness and experiences among citizens. The firm is a total ecosystem that integrates technology, automation and […]
Somalian weavers are battling to preserve the use of local fabrics and the wearing of traditional clothes. Influx of cheap clothes and textiles from China and other countries is threatening the livelihood of weavers and a ones lucrative business. “I have been working on this craft for forty years. I only earn a total of […]
Following the seizure of 25 supercars from Equatorial Guineas vice president as part of a Swiss money-laundering probe, an auction held by Bonhams on Sunday fetched nearly $27 million (27 million Swiss francs). Geneva prosecutors said in February that they had closed an inquiry into Teodoro Nguema Obiang for money laundering and misappropriation of public […]
The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane, is of the opinion that Nigeria lacks the mental discipline to execute plans for the growth of the economy. Mr. Rewane stated this on Tuesday while speaking at The Platform, a programme by the Covenant Christian Centre to mark Nigeria’s 59th Independence […]
On Thursday the International Monetary Fund said Zimbabwe needed to intensify its efforts to reform the country’s economic and political fate and improve meaningfully on transparency. The warning according to VOA came on the same day as a report by the Financial Times said the government was warned against state payouts to local company Sakunda […]
Zambia’s communications regulator said on Thursday it had cancelled the licence for Vodafone’s local franchise holder, citing a lack of technical and financial capacity. Vodafone in 2016 licenced Afrimax, a telecommunications service provider in sub-Saharan Africa to offer customers high speed 4G data services using the Vodafone Zambia brand. The company, registered as Mobile Broadband […]
The International Monetary Fund said on Thursday that Zimbabwe needed to intensify efforts on economic and political fronts, adding that the country faced a steep economic contraction this year. “Policy actions are urgently needed to tackle the root causes of economic instability and enable private-sector led growth,” the IMF, which visited Harare this month to […]
President Uhuru Kenyatta has said the Kenyan government is rolling out the Universal Health Coverage (UHC) program as part of a grand plan to transform the county into a newly industrializing, middle-income country by 2030. The President said access to affordable and quality health services will help end extreme poverty and improve productivity, especially in […]
Madagascar’s cool fresh water and inexpensive labour has inspired the production of the luxurious caviar. Three French entrepreneurs set up the farm. Today, they produce Rova Caviar with 300 tonnes of fish from 6 different sturgeon species. Delphyne Dabezies is the CEO of Rova caviar. “The day we produced the first caviar in Madagascar was […]
Nigeria’s apex financial institution, the Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the newly introduced cashless policy will cause. Godwin Emefiele, the Governor of Central Bank, made the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Friday. He stated this when he was […]
The World Bank says it is in talks with the Nigerian government for a $2.5 billion loan to resolve the problems of the country’s power sector. World Bank’s Vice President for Africa, Hafez Ghanem said this while addressing journalists in Abuja, Bloomberg reported on Wednesday. “We’re talking about a new set of programmes of about […]
Farmers and traders are distressed after Nigerian President, Muhammadu Buhari closed all neighbouring borders around the country with a plan to end Nigeria’s economic dependence on oil, by developing domestic agriculture and industry. The border closure means Nigeria is choked off from supplies until the next harvest by local farmers. “These tomatoes are rotting in […]
The World Bank and Nigeria are in talks for as much as $2.5bn (R37bn) in a new tranche of concessionary lending to Africa’s most populous country, Vice President for Africa Hafez Ghanem said. In the past year Nigeria received $2.4bn from the World Bank, Ghanem said in an interview in Abuja, the West African nation’s […]
Ambassadors of Ghana, Croatia and Cyprus accredited to Pakistan along with a team of Sindh Board of Investment visited the Federation House, Karachi and held meeting with Dr. Mirza Ikhtiar Baig, acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), S. M. Muneer, former president FPCCI and office bearers and members […]
President Abdel-Fattah El-Sisi has issued decree no. 83 of 2019 approving a loan agreement between the Egyptian government and the Kuwaiti Fund for Arab Economic Development.to build four sea water desalination stations in South Sinai. The 15-million-dinar agreement was signed in Sharm el Sheikh on 8 December, 2018. The decree was published in the official […]
Zimbabwe and Belarus have signed deals worth US$350 million, which are set to transform Zimbabwe into the region’s transport and logistical hub. Two agreements were signed this Tuesday, with six more yet to be finalised. After witnessing the signing ceremony, President Emmerson Mnangagwa said the agreements have cemented relations between the two countries. “This has […]
United States Mission in Nigeria and the American Business Council, in partnership with the Nigerian Government and members of the private sector, met in Lagos, Monday, on Intellectual Property (IP). DAILY POST reports that the symposium theme, “The Bane of Counterfeit Pharmaceuticals and Piracy”, brought together stakeholders including senior officials from federal ministries, departments and […]
Talks between Egypt and Ethiopia over the latter’s dam project on the River Nile, have hit yet another deadlock, even as ministers from the two countries met with Sudan on Monday. The meeting, which was the first in over a year, produced no agreements or disagreements, according to the spokesperson at Ethiopia’s foreign ministry, Nebiat […]
The United Nations Development Programme (UNDP), is awarding grants worth over 200 million CFA to three Micro Finance Institutions (MFI) to scale up their capacity to provide financial products and services adapted to the needs of young people, women and rural populations in the project intervention areas of Far North, North, Adamawa and East regions […]