The African Minerals Development Centre (AMDC) together with the Minerals and Energy for Development Alliance (MEfDA) and the World Bank, has delivered the first of two regional workshops on transfer pricing in Africa’s mineral sector.
Burundi has acceded to the Agreement for the Establishment of the African Export-Import Bank (Afreximbank), making it a participating state of the continental trade finance bank.
[Kenya] Ban on plastic bags will cut jobs and affect livelihoods, Kenya Association of Manufacturers
Kenya Association of Manufacturers (KAM) has stated that local manufacturers were not consulted on the impending ban of plastic bags following the ban to use, manufacture and import all plastic bags.
The Trade Development Bank (TDB), formerly known as PTA Bank, and the African Export-Import Bank (Afreximbank) have closed a $500 million dual-tranche syndicated loan facility for the Government of Kenya which acted through the country’s National Treasury.
Following a meeting with G20 finance ministers and central bank governors, World Bank Group President Jim Yong Kim today announced a record $57 billion in financing for Sub-Saharan African countries over the next three fiscal years.
The Federal Government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity, ascribing the feat to Dangote Cement which spearheaded the backward integration policy introduced by the government.
The Government has announced plans to revive the Kenya National Shipping Line that has the potential to contribute $3 billion into the country’s economy annually.
Africa Progress Panel Report on Electrifying calls on governments to bridge continent’s energy deficit
Former UN Secretary-General, Kofi Annan, and the President of the African Development Bank, Akinwumi Adesina, have called on African Governments and their partners to do everything possible to close the continent’s huge energy gap.
A $350 million deal to finance an 80 megawatt (MW) peat to power project in Rwanda, which will improve access to electricity for the three quarters of the country's population that is currently off the grid, has reached financial close.
Algeria signs $43 million deal with European Union to develop renewable energy and modernize public finance
At the high level EU-Algeria Association Council taking place in Brussels, the EU and Algeria signed a €40 million package to support Algeria diversify its economy and improve business climate through measures ranging from the development of renewable energy to modernisation of public finances.
The management of Dangote Salt and the National Agency for Food and Drugs Administration and Control (NAFDAC) () have expressed their readiness to collaborate and corroborate efforts to rid the food market of unwholesome practices by unscrupulous traders.
In the period since independence in the 1950s, Africa has undergone profound social, cultural, economic and political changes. Some inherited and historically rootless colonialist political and social systems have collapsed, been transcended and reconstituted.
South African government prioritizes creation of vibrant export culture to increase capability and capacity
The Department of Trade and Industry in partnership with Tshwane Economic Development Agency (TEDA) hosted the Exporter Development Training in Pretoria. The purpose of the training was to prepare small medium enterprises (SMEs) for the successful expansion of their businesses into international markets.
The National Bureau of Statistics (NBS) stated that Nigeria's real GDP growth contracted to -1.30% (year-on-year) in the fourth quarter of 2016.
A new United Nations Industrial Development Organization (UNIDO) project will develop an entrepreneurship curriculum for senior secondary schools in Nigeria.
Heritage Foundation released its 2017 Economic Freedom report in February revealing that Sub-Saharan African (SSA) countries are distributed primarily within the lower ranks of economic freedom.
Tunisia is preparing to sign the COMESA Treaty during the next COMESA Summit in October 2017. The signature will herald the admission of Tunisia to the regional economic community as its 20th member State.
Export – Import Bank of India has committed $93.50 million to the government of Cameroon for construction of the 225 kV Nkongsamba - Bafoussam and Yaounde – Abong Mbang Transmission Line.
President Uhuru Kenyatta has signed amendments to the Proceeds of Crime and Anti-Money Laundering (Amendment) Bill 2017, a tough legislation aimed at combating economic crimes, into law.
Innovative research released by The MasterCard Foundation is making the case for a new approach to youth employment training strategies in Africa. Invisible Lives: Understanding Youth Livelihoods in Ghana and Uganda sheds light on the working lives of African youth.
Zambia has called for increased international cooperation to achieve sustainable transportation at national and regional level.
Africa Development Bank Group Director General (DG), Southern Africa Regional Development and Business Delivery Office, Tonia Kandiero, and Zimbabwe’s Finance and Economic Development Minister, P.A. Chinamasa, signed a grant agreement on the Institutional support for State enterprise reform and delivery project (ISERDP) for a total amount of $4 million
Africa’s cities are growing in population – adding the size of another Nigeria to cities by 2025 – so have a critical role to play in their countries’ economic growth, says a new World Bank report.
The parlous story of African economic and social development since independence best expressed in the failure to achieve the autonomous capacity for self-actuated development and in particular to create conditions of national and continental modern mass production and prosperity is well known and need not be repeated.
South Africa has announced it is set to launch the Invest South Africa One Stop Shop to provide strategic guidance, reduce regulatory inefficiencies, and reduce red tape for all investors looking to invest in South Africa.
Rwanda’s economy is expected to remain stable and resilient in 2017 despite the downside risks registered in 2016.
February has seen Kenya’s inflation climb to its highest since 2016 as the effects of the ongoing drought continues to pile pressure on the cost of food according to recently released data from the Kenya Bureau of Standards.
Rating agency Standard and Poor’s says the Zambian government’s financing position remains very tight, with access to external debt markets and available domestic capacity both limited.
The Uganda Revenue Authority (URA) has launched three customs trade facilitation programmes that will improve the ease of doing business in Uganda and the East African Community, and also promote trade and investment.
The Securities and Exchange Commission (SEC) is in the process of unveiling higher standards for the securities industry in keeping up with the latest international development and to ensure the growth of the sector.
Common Market for Eastern and Southern Africa pushes for alternative dispute resolution to safeguard integration
The Common Market for Eastern and Southern Africa (Comesa) is working towards improving investment opportunities in the region by offering better protection to the business community against any violations relating to the regional integration agenda.
In the financial year 2017-2018, the Cameroon government has pledged to surface a total of 1,615 km of new roads, the Minister of Public Works, Emmanuel Nganou Djoumessi, announced.
A surprisingly large number of small businesses in Kenya are in the manufacturing industry. Out of the 700,000 micro enterprises captured in the Medium, Small and Medium Enterprises Report 2016 published by the Kenya National Bureau of Statistics, 175,000 or 12 per cent are in manufacturing.
[South Africa] National Empowerment Fund to be incorporated into Industrial Development Corporation to guarantee funding for black entrepreneurs
In a landmark breakthrough for South Africa’s quest for inclusive growth and radical economic transformation, the Ministers of Trade and Industry and of Economic Development announced in Cape Town that the National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC) in order to meet the considerable demand for funding by black entrepreneurs.
Kenya has floated treasury bond worth $288 million to fund infrastructure projects coming two weeks after it cancelled a similar bid, Central Bank has said.
Kenya’s taxman the Kenya Revenue Authority is replacing the tax collecting platform Simba System and replacing it with a modern integrated customs management system as it cracks the whip on tax evasion.
Ethiopia's parliament has approved a $250 million loan agreement made with China's Export-Import (Exim) Bank to finance major infrastructure construction in the country.
IFC, a member of the World Bank Group, and Kenya’s Capital Markets Authority have announced a training program to familiarize directors and issuers with the Code of Corporate Governance Practices for Issuers of Securities to the Public.
World Bank and government of South Sudan launch first public private partnership initiative in the country
The World Bank Group and the Government of Sudan have launched Sudan’s first Public-Private Partnership (PPP) initiative. Through a grant from the Public-Private Infrastructure Advisory Facility (PPIAF), the PPP Support Program aims to strengthen the policy and regulatory environment for PPPs in Sudan.
The Ugandan private sector now has a chance to access over $20 million Skills Development Fund to grow their businesses.
Kenya’s economy is expected to grow between 5 and 5.6 percent in 2017, supported by increased government spending and resilient performance in transport, trade and tourism.