Egypt has introduced the country’s first bankruptcy law which among others seek to minimize the need for individuals or companies to resort to courts while abolishing imprisonment in bankruptcy related cases.
Moroccan billionaire Othman Benjelloun was ranked first in Morocco in Forbes’ 2016 list of the richest people in the Arab world. With a fortune estimated at more than $1.9 billion, the Moroccan businessman and investor also ranked as the 19th richest people in the Arab world
[Morocco] Heirs Holdings and Banque Centrale Populaire in deal to scout for investment opportunities in Africa
Leading Morocco bank Banque Centrale Populaire and African proprietary investment company Heirs Holdings have signed a Memorandum of understanding to collaborate on investing, co-financing, and exchange of information encouraging the identification of mutually beneficial investment opportunities across Africa.
Old Mutual Zimbabwe is set to be the first company to trade its empowerment shares on the Financial Securities, FINSEC, Alternative Trading platform as it seeks to endorse government’s indigenization programme.
Are you an African company looking to trade with U.S. Companies, import U.S. goods or attract U.S. investors?
The first forum that has brought up Algeria and Mali economists has come up with a resolution to set up first of its kind joint business council to spearhead the interests of both countries.
France, United Arabs Emirates and Spain are the largest sources of foreign direct investment in Morocco depicting a changing landscape in recent years according to a recent study released by the Moroccan government.
In a move credited with government’s stepping up services it offers to investors, Kenya has moved 21 places in the Ease of Doing Business 2017 ranking to position 92 globally out of 190 countries making it the third most improved economy for two years in a row.
Centum Investments Limited has announced that it has appointed four high profile new non-executive directors to the company.
The Board of the African Development Bank (AfDB) has approved the institution’s proposal to launch an ‘Africa Investment Forum (AIF)’ - a meeting place for investors interested in Africa.
Sub-Saharan Africa will, over the next few decades, attract the highest rates of foreign direct investment inflows per capita of any developing region, according to a report by PWC. Many new businesses are expected to start up and grow as a result of this investment.
As a proud Kenyan and champion of business opportunities in Africa, the optimistic chat on Twitter from last week’s US Africa Business Forum in New York popped up on my radar.
Community-based financial solidarity and fundraising are an integral part of the African culture and traditions. Across Africa, communities are accustomed to pooling funds to support various charity-focused, social and economic local projects.
The President of Dangote Group, Aliko Dangote has assured that despite the current economic challenges, he will continue to scale up the value of his investments not only in Nigeria but also across the entire continent.
Lagos-based real estate classifieds start-up ToLet.com.ng today has raised a $1.2 million Series A round of funding from Frontier Digital Ventures.
At separate bilateral meetings on the sidelines of the ongoing 71st United Nations General Assembly in New York, United States of America, the Nigerian leader welcomed more investment and economic partnerships.
The Chief Executive Officer of Jumia Travels, Mr. Paul Midy, has said that the ongoing recession and falling value of the naira has made Nigeria a cheaper place to do business.
Africa Works!, the largest event in The Netherlands that focuses on doing business in Africa, will take place in November under the theme ‘Innovation in finance.’
Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes, is returning to TANZANIA on September 24, 2016
African Bank announced on Monday that it has repurchased $207m worth of from its foreign currency-denominated bond holders issued under its $6bn Euro Medium Term Note (EMTN) programme.
President Jacob Zuma has arrived in Guangzhou, Guangdong province, in China, for the 2nd investing in Africa Forum, the presidency said on Monday.
South Africa-based payment services provider Net1 UEPS Technologies said that it will invest $40 million (Rs 268 crore) in mobile payments start-up MobiKwik.
The Egyptian government has finalized modalities required to allow it access a $500 million World Bank loan facility geared towards what the government says will be domestic development program for Upper Egypt.
Ghana has received support from the World Bank to strengthen its institutional capacity in domestic revenue mobilization, public investment management, debt management, and governance of State owned Enterprises (SOEs).
Many West African countries are on the rise in globalization according to Wikipedia chart of 2015. Nigeria, until very recently overtaken by South Africa, had the largest GDP in Africa with a nominal value of $480.066 billion, making her the largest and the leading economy in Africa for a long time.
African Ministers, World Bank and Partners Meet in Mauritius to Catalyze Investments for the Ocean Economy
The World Bank Group, in collaboration with the Republic of Mauritius, is organizing the African Ministerial Conference on Ocean Economies and Climate Change, on September 1 – 3, 2016.
President Muhammadu Buhari has requested for increased participation of the Japanese government and the private sector in the Nigerian economy.
Investing in infrastructure and human resource development are crucial for Africa to realise Agenda 2063, a high-level panel during the Sixth Tokyo International Conference on African Development (TICAD VI) heard Saturday in Nairobi.
Kenya to reap big for being first African country to host Tokyo International Conference on African Development
Kenya is set to play host to over 10,000 delegates attending the sixth session of Tokyo International Conference on African Development (Ticad), the first time the conference is being held in Africa.
Developing countries like South Africa need FDI (foreign direct investment). They are investments in a business by an investor from another country for which the foreign investor has control over the company purchased.
As you may be aware, Egypt’s housing and residential sector has been experiencing exceptional growth over the last 5 years. We have been in discussions with a number of the major developers in Egypt and they are very bullish about the future.
Financial institution African Export Import Bank (Afreximbank) has provided a $150 million funding support for Heritage Bank Limited.
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $73.5million loan facility to OIS Indorama Port Limited, to support the development of a multi-purpose port terminal at Onne in Port Harcourt.
Nigeria's Minister of Trade & Investment, Okechukwu Enelamah, is to lead a trade delegation from Nigeria for a four-day trade and investment road show in London scheduled for July 11 to 15.
Africa Finance Corporation is acting as lead arranger for an up to US$425m senior mezzanine facility for New Age (African Global Energy) Limited, a privately held oil and gas exploration, development, and production company with assets primarily across Africa, to develop its existing assets and expand operations.
The first ever international aerospace and airport show to be hosted by Nigeria is expected attract about $50 billion investments from local and foreign investors to the country’s aviation industry.
Business Processing Outsourcing (BPO) firm, iSON has revealed plans to expand its investments in call centre operations in Nigeria and other sub- Saharan African countries.
Financial firm, Stellar.org has launched its platform into the Nigerian financial space, with a strong promise to remove all obstacles that could hinder access to smooth financial transactions within and outside the country.
Investing in science and research has massive benefits for Africa’s economy - AfDB President, Akinwumi Adesina
The Bank’s President Akinwumi Adesina was speaking at the 7th Agriculture Science Week (AASW) and the Forum for Agricultural Research in Africa (FARA), where he was awarded the FARA Leadership Prize for advancing agricultural science, technology and innovation in Africa.
Shell Companies in Nigeria spent a total of $195.5 million on social investments in the country in 2015, making Nigeria the largest concentration of social investment spending in the Shell Group.
Bilateral trade investment between Ghana and India is targeted to increase to five billion US dollars by 2020, President of India has disclosed.
Few years ago, Kenyan banks and other financial institutions shuddered at the thought of financing traditional investment groups which they considered high risk. But the implosion of these saving outfits which have morphed into financial machines
[South Africa] Old Mutual Investment Group reaffirms commitment to African investment through equity stake in UFF African Agri Investments
Old Mutual Investment Group has announced a deal to increase its overall effective equity stake in African agriculture investment group, UFF African Agri Investments, to 49%.
Being invited to attend the ACET inaugural Africa Transformation Forum was somewhat of an honour for me. It was a chance to mingle with key policy decision makers in Africa’s rich continent, from institutions like the IMF, AU and World Bank to NGOs like USAID and Ministry parastatals.
The Deputy Minister of the Department of Trade and Industry, Mr Mzwandile Masina is leading a delegation to the Annual Investor Meeting (AIM) which is hosted under the patronage Sheik Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.
Hotel development in Africa jumps 30% to 64,000 rooms, Nigeria leading in numbers, followed by Angola
The number of planned hotel rooms in Africa has soared to 64,000 in 365 hotels, up almost 30% on the previous year, according to new figures from the annual W Hospitality Group Hotel Chain Development Pipeline Survey.
Ford Motor Company is investing R2.5-billion ($170 million U.S. dollars) to expand operations in South Africa at its Silverton Assembly Plant in Pretoria, South Africa, to produce the all-new Ford Everest, along with the new Ford Ranger that was launched at the end of last year.
United Bank for Africa (UBA) Plc, Etisalat, and Afrinvest, are among several local and international companies that have confirmed their participation at the forthcoming Enugu State Investment Summit scheduled to hold from April 12 – 14, 2016 in Enugu.
Jeremy Rubel is Director at Gannibal, and expert in building strategic relations and business developments between Africa and China. Jeremy will participate in the Amsterdam Business Networking Event, March 8.
In attempt to drive innovation and momentum for disruptive technologies in Nigeria, Sasware Nigeria has launched the Start-up in Residence (STAIR) program.
Zimbabwe-focused investor Cambria Africa has revealed it is considering the terms of an offer from Consilium Investment Management in relation to a dispute over the payment of a debt, while its finance director has stepped back to take a non-executive role in the company.
This year could be a hard time for property investors in South Africa as the country's economy is currently experiencing crisis, resulting to slower rate of property investment.
The Egyptian cable maker company called Elsewedy Electric Group is set to establish industrial zone in Ethiopia within the upcoming two years. This was stated at the African International Business Forum which was held in Egypt recently.
The Great Lakes Region Private Investment Conference is opening Wednesday in Kinshasa, Democratic Republic of the Congo.
Former Nigeria’s President, Chief Olusegun Obasanjo and over 18 Heads of State and Government, as well as over 1,500 leaders from business and society are expected at the 3rd Commonwealth Africa Summit 2016 from the 14th – 16th March in London, United Kingdom under the theme: Shared Prosperity, Mutual Security.
A new disease control hub is set to be launched in Egypt, which will use technology to trace and control diseases, predict outbreaks and engage communities in affected areas across Africa.
Oracle Enables Leading Global Transfer Agency to Launch New Retirement & Life Products in South Africa
Maitland, a global independent third-party fund administrator has launched its new investor servicing Retirement and Life products to the South African market with the help of Oracle FLEXCUBE Investor Servicing.
Jennifer Richard Shigoli is founder of Malkia Investments Company Limited, as well as Tanzania Institute of Manufacturing (TIM). Professionally a Diplomat and Lawyer, she’s a firm believer in education, innovation and hard work. Her interview with Africa Business Communities:
The United States (US) secretary of commerce, Penny Pritzker, has disclosed that out of over 70 large American companies operating in Nigeria, a survey showed that the cumulative amount of direct investment committed to the country by just 11 of them since 2011 totaled $10.9 billion.
Travelstart Raises $US40 Million to Extend Market Leadership and Capture Africa’s Dollar Online Travel Market
Travelstart, the South African-based Online Travel Agency (OTA) with offices throughout Africa and subsidiaries in the Middle East and Turkey, today announced a US$40 million funding from Amadeus Capital Partners, the global technology investor.
Visiting Italian Premier Matteo Renzi has said Italy is genuine and passionate about its investment in Ghana.
“Our plans for increased investment will also bring about employment opportunities in the country as workers will be recruited for the new production line, and in the farms for the production and sourcing of local raw materials.”
The World Bank revealed Saturday details of the $3 billion loan to the Egyptian government which entail reducing the government's wages bill, energy subsidies, while raising tax revenue and electricity prices.
The Ambassador of Poland to Nigeria, Andrzej Dycha, has said that his country is set to partner with Nigeria through investments in developmental areas bordering on agriculture, energy, construction and pharmaceuticals.
A wide range of energy sources exist on the continent. Yet, more than 600 million Africans lack access to affordable, reliable and modern energy services.
Malawi’s government said Monday that investors can now access the country’s Geophysical data following a successful Airborne Geophysical survey under the Mining Governance and Growth Support Project funded by the World Bank.
Promoting sustainable development in Africa through the facilitation of networking and business opportunities in African tourism constitutes the main objective of the Tourism Investment and Business Forum for Africa, organized by the World Tourism Organization and Casa Africa at the FITUR International Tourism Fair.
Prudential Financial, Inc. and LeapFrog Investments announced today the launch of a $350 million investment partnership to access high-growth markets in Africa. Managed by LeapFrog, the new investment vehicle will target investments in life insurance companies in leading economies on the continent, including Ghana, Kenya and Nigeria, to be made over a three- to five-year period.
It is a situation that mirrors the giant oil industry, where Nigeria has abundant resources but has lacked the capacity, will or ability to exploit it, forcing a reliance on imports.
At a time when the African continent is witnessing fast growth globally in foreign direct investments (FDIs), a high-level delegation from the Annual Investment Meeting 2016 has conducted a pan African road show to strengthen the African participation in the forthcoming edition of the event.
Egypt’s net invested capital increased to 924.7 billion Egyptian pounds in fiscal year 2014/2015 from 830.3 billion EGP in FY 2013/2014, with an increase of 11.4 percent
In a 2016 report entitled Global Economic Prospects: Spillovers amid Weak Growth released last week, the World Bank said structural reforms are needed to alleviate domestic impediments to growth and to accelerate economic diversification.
Initially I had wanted to do a recap of Blue Luxury Investments in the year 2015. But a few days into the New Year, I just want to reiterate this phrase: “We attract what we are ready for”. I will leave that for you to chew on.
The provincial director of Fisheries in Benguela, José Gomes da Silva, admitted that the increase of raw salt production levels in Baía Farta municipality, currently ranging between thirty and forty thousand tons per year to 170,000 tons by the year 2017, depends on large investments.
German companies are known in Africa for quality and German companies are believed to be strong in manufacturing.
The listing of Tanzania's power utility firm on the Dar es Salaam Stock Exchange will be the highlight of the government's plans to attract private investors to the energy sector this year
As the New Year turns in, it will be very rewarding to position well so as to finish strongly in the year. If you had known 15 years ago what you now know today, would you have been more successful?
Banks are desperately searching for how to invest the over N1 trillion of excess cash in their vaults. This desperation was reflected in trading for treasury bills (government securities) where banks and other investors demanded for 291 percent more bills than the amount offered for sale by the Central Bank of Nigeria (CBN).
Information technology (IT) spending in Nigeria will top $5.3 billion in 2016 as organisations increasingly embrace digital transformation initiatives in a bid to streamline their costs and bolster flexibility according to technology research and consulting services firm, International Data Corporation (IDC).
The government needs to ensure that there is a growing ICT sector to stimulate growth in job-rich sectors like manufacturing and services. The public sector must also lead by creating a favourable regulatory environment for investment in ICT and new technology.
Speaking at the fourth quarterly Investors’ Clinic targeted at the youths, the Head of Corporate Services Division, NSE, Mr. Bola Adeeko The Nigerian Stock Exchange (NSE) last Friday urged the youths to start early to secure themselves financially.
I listen to a lot of pitches. This is part of my job description and I am able to tell someone who is passionate about something from someone who is just going in for a trial and error.
“Now that policy rate is presumably below the neutral interest rate to buttress Nigeria’s stance on expanding the economy, there is no room for an insensible fiscal interaction”.
Mr Kofi Ampong, Chief Executive Officer of Broll Ghana Limited, property managers, has described the inaugural West Africa Property Investment Summit 2015, as the milestone in the development of business in Ghana and Nigeria.
Commercial Bank of Africa and Agence Française de Développement have entered into a €10 million funding agreement (Sh1.08 billion) for renewable energy projects in Kenya.
Imagine you are in a shopping arcade; say one of the Nakumatt retail outlets and you are just about done with the cashier when you spot a former workmate with his family walking in your direction and towards the exit. You just set up your company a few months ago and are actively seeking out new clients.
The World Bank has devised a $16bn (£10.6bn) strategy designed to help Africa adapt to climate change and prevent millions of people from sliding into poverty.
AfDB Approves Ghana's Public Financial Management and Private Sector Competitiveness Support Program
The Board of Directors of the African Development Bank on Wednesday, 18 November 2015 approved a US$ 56.2-million African Development Fund loan to support Ghana's Public Financial Management and Private Sector Competitiveness Program.
Deputy Agriculture Secretary Krysta Harden and Ghanaian Minister of Food and Agriculture Fifi Kwetey will announce two Food for Progress agreements today to support agricultural development and trade within Ghana's poultry sector.
The Board of Directors of the African Development Bank (AfDB), on Wednesday, November 18, 2015 in Abidjan, approved an unfunded US $100-million Risk Participation Agreement (RPA) for Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE) to support issuing banks in Africa expand their trade finance operations.
Allied Mobile Africa announced today that they have signed a strategic finance and partnership agreement with the Public Investment Corporation (PIC) for debt funding facility of $55 million (approximately R800million).
I have learned a lot and I don’t think I will be able to compress it all into this single post. I really just wanted to write about something that is close to my heart, “Giving Back” what corporate organizations will call “Corporate Social Responsibility.”
Australia’s Triton Minerals says it plans to raise $11.3 million to continue graphite exploration in northern Mozambique.
Maersk Oil has agreed to acquire half of Africa Oil Corporation’s shares in three onshore exploration licences in Kenya and a further two in Ethiopia.
Deutsche Bank and Ecobank Limited have signed a Memorandum of Understanding (MoU) to expand their trade finance business.
At their regular meetings on Wednesday, 4 November 2015, the Boards of Directors of the African development Bank (AfDB) approved three loans totaling US$ 94 million to finance a Cashew Infrastructure Development Project in Zambia
Cuba is a country on the rise with South Africa recognising its growing importance as an economic player in the world, says Trade and Industry Deputy Minister Mzwandile Masina.
Safaricom – through its Spark Fund – has announced its investment in Sendy, a Nairobi-based package delivery start-up.
Agence Française de Développement (AFD), Chase Bank Kenya have today signed a credit line valued at 10 Million Euros (approximately Ksh 1.12 Billion) to finance Green Energy Projects in Kenya.
The African Development Bank Group's (AfDB) Board of Executive Directors approved a US $33.3-million grant to set up a Post Ebola Recovery Social Investment Fund