Trade efficiency systems in Zanzibar are expected to become efficient with the launch of an NTB monitoring and electronic certificate of origin systems by the Zanzibar National Chamber of Commerce Industry and Agriculture (ZNCCIA).
Presently, there are 145,000 millionaires in the continent with a combined wealth of $800 billion.according to the Africa Wealth Report which also states that there will be 36% more millionaires by the year 2020.
The Somali government and high level business actors have endorsed a Public-Private Cooperation Agreement to Accelerate Somalia’s Economic Recovery.
Hughes Network Systems, LLCthe global leader in broadband satellite solutions and services has announced that its JUPITER System has been selected to bring high-performance connectivity throughout the Sub-Saharan Africa.
The Mobilitas-AGS group’s new multimodal logistics platform in Gauteng province, South Africa has officially been delivered.
An innovative trade initiative which is expanding opportunities for business, employment and prosperity in African, Caribbean and Pacific countries will be extended to February 2019.
The African Development Bank (AfDB) has provided a roadmap to the growth of agriculture in African countries with a plan to inject nearly US $2.4 billion every year for 10 years to build roads, irrigation infrastructure and storage facilities within Africa to attract high-value investors.
Vodacom, in partnership with Huawei, have successfully completed the launch of Africa’s first live NarrowBand IoT (NB-IoT) site which is fully compliant with the standardised 3rd Generation Partnership Project(3GPP) NB-IoT specifications.
International Finance Corporation, a member of the World Bank Group, Google Inc., Convergence Partners, and Mitsui & Co. have agreed to invest up to $100 million in CSquared, a partnership focused on deploying wholesale, carrier-neutral, open-access fiber optic networks across Sub-Saharan Africa.
[Ghana] GE and Ministry of Health in partnership to give Greater Accra Ridge Regional Hospital facelift
GE, the world’s Digital Industrial Company has partnered with the Ghana Ministry of Health and Bouygues Batimat International with the support of the US Government to overhaul the Greater Accra Ridge Regional Hospital in the Ridge District of Accra, Ghana.
Islamic body on private sector development and China-Africa Development Fund ink deal to boost infrastructure in Africa
The Islamic Corporation for the Development of the Private Sector, the private sector arm of Islamic Development Bank (IDB) Group and China-Africa Development Fund, CADFund, a Beijing-based private equity firm and subsidiary of the China Development Bank which focuses on Africa have signed a historic agreement.
[South Africa] $2million Vulindlela Heights Industrial Park unveiled as part of government radical economic transformation
Government’s radical economic transformation received a boost with the launch of the Vulindlela Heights Industrial Park in Mthatha, Eastern Cape.
[Nigeria] Infrastructure summit calls for bolder action from private sector to reduce Africa's infrastructure deficit
Africa's premier infrastructure summit has opened in Abuja, Nigeria. Andrew Alli, President and CEO of AFC, said: "In 2014 we held our inaugural African infrastructure summit, bringing together our expertise, knowledge and experience in infrastructure financing.
TerraPay, the world's first mobile payments switch, has received the Frost & Sullivan Visionary Innovation Leadership Award for international remittances in Sub-Saharan Africa.
Global trade enabler DP World has celebrated its 30-year port concession for the management and development of a multipurpose port project at Berbera, Republic of Somaliland which started on 2 March 2017.
ATI supported $4 billion worth of trade and investments in 2016 with call for increased participation
The African Trade Insurance Agency (ATI) held its 17th Annual General Meeting with sustained commodity price decline and current geopolitical uncertainties taking centre stage.
A gravel road snaking through an open swath of land outside Ndola in Masaiti has no distinct name, but as one completes its 10-kilometre stretch, one name becomes clear – Dangote.
Sierra Leone has officially unveiled a new purpose- built Murray Town Jetty which it is counting on to tackle the maritime industry’s greatest threats including unregulated fishing and smuggling.
Africa’s leading freight logistics chain Transnet has been on an expansion binge and is expected to set up shop in eight more African countries including Kenya, Liberia, Ghana, Nigeria, DR Congo, Senegal, Togo and Benin.
[South Africa] Johannesburg Chamber of Commerce and Industry signs export, import and investment MOU with China Trade Council
The Johannesburg Chamber of Commerce and Industry and the China Council for the Promotion of International Trade have signed a Memorandum of Understanding (MoU) to enhance liaison and cooperation in the fields of export, import, investment, business information
The Standards Organisation of Nigeria (SON) on Sunday inaugurated its Seme border office with assurance to intensify efforts at checking influx of substandard products into the country through land borders.
The World Bank's Board of Executive Directors has approved a $ 200 million International Development Association (IDA) credit under the IDA17 Scale-up Facility for Zambia to improve selected rural roads in six of Zambia’s ten provinces. Government will finance the remaining four provinces.
African leaders must build a new more 'human economy' to tackle inequality and poverty, Oxfam has said ahead of the World Economic Forum (WEF) on Africa. The meeting will bring political and business leaders together from across the continent to discuss how to achieve inclusive growth.
Sappi Southern Africa, a subsidiary of Sappi Limited, the world’s largest manufacturer of dissolving wood pulp (DWP), has selected Kuehne + Nagel as its preferred partner for seafreight order management.
According to EY’s latest Africa Attractiveness report, heightened geopolitical uncertainty and “multispeed” growth across Africa present a mixed FDI picture for the continent.
The African Export-Import Bank (Afreximbank) has granted a $300-million financing facility to the National Bank of Egypt (NBE) to support Egypt’s industrialisation efforts.
Artisan Training Institute (ATI), a leading technical skills training organization and the MasterCard Foundation have partnered to launch a program that will bolster the capacity of Training, Vocational, and Educational Training institutions (TVETs) to provide quality education to young people in South Africa’s artisanal and skilled trades sectors.
Bolloré Transport & Logistics Ivory Coast has launched public water transport vehicles in the Ebrié Lagoon. Six water buses, which will be operated by Société de Transport Lagunaire (STL)
Construction of new and modern cross border market facilities worth $2.2 million has commenced in Rusizi at the border of Rwanda and Democratic Republic of Congo (DRC), following the ground breaking ceremony. Hon. Francois Kanimba, the Minister for Trade, Industry and East African Affairs (MINEACOM) presided over the event.
In support of Rwanda’s Sustainable Development Goals, the Mastercard Center for Inclusive Growth has confirmed its commitment to a grant of up to $1 million over three years to support the growth of small business owners in Rwanda.
The East African Community Partner States have undertaken a number of reforms over the past four years to facilitate implementation of the EAC Common Market Protocol, this is according to the East African Common Market Scorecard.
To better serve the growing power and grid reliability needs in Africa, GE’s Distributed Power announced that it has recently signed an agreement with Clarke Energy to serve as GE’s distributor of Jenbacher gas engines for six additional countries in Africa, including Cote d’Ivoire, Democratic Republic of Congo, Ghana, Kenya, Morocco and Rwanda
American President Lines, APL, a US international shipping company has stated that it is resuming operations at the coastal port of Sudan after a 20 years’ hiatus.
[Angola] AfDB country support strategy focuses on Agricultural Transformation, Infrastructure Development in the next five years
The Board of Directors of the African Development Bank Group (AfDB) has approved the Bank’s Angola Country Strategy Paper (CSP) to guide its interventions in the country in the next five years, focusing on Inclusive growth through agricultural transformation and supporting sustainable infrastructure development.
Given the long history of drought in this continent, I believe that it is time we stop viewing it as an exogenous shock and more as a structural problem that we can address with our own abundant resources.
In order to increase the operational capacity of Abidjan’s container terminal, four new gantry cranes (RTG) were put into service. These new modern equipment will help improve the port of Abidjan development.
Nigeria based logistics and distribution firm Courier Plus has opened a Nairobi branch as it mulls expanding to other countries in the region to sate the growing demand for logistical services.
TradeMark East Africa has proposed the need to adapt its engagement in Burundi by investing in projects that strengthen new export potential value chains, enhance cross border trade and increase the country’s participation in the regional market.
MTN and Huawei have partnered to bring the first LTE Licensed Assisted Access (LAA) network in Africa. LTE LAA is an evolution of the LTE-Unlicensed mobile technology, which enables LTE to utilise unlicensed spectrum to significantly enhance network capacity.
Angola Cables completes system connecting Africa and the Americas to create new route for Internet traffic
Taking a step closer to completing a valuable new route for the global telecommunications sector, Angola Cables today announced the completion of the marine survey for the South Atlantic Cable System (SACS), as well as the start of cable loading on the Angolan side of SACS.
The African Development Bank Group (AfDB) Director-General for the West African Region, Janvier Litse visited the Republic of Benin from 10 to 12 April 2017 as part of a dialogue mission with the country's authorities.
AfDB provides $10.61m supplementary loan to rehabilitate and expand electricity distribution networks in Juba, South Sudan
The Board of Directors of the African Development Bank Group (AfDB) approved an African Development Fund (ADF) supplementary loan of US $14.57 million to rehabilitate and expand the distribution networks in Juba, South Sudan.
Africa has a bright future ahead of it. Productivity and growth will improve as African economies continue to place more emphasis on services and manufacturing, pursue commodity production, and achieve quick gains in agriculture and light industry.
An additional 16 government agencies involved in clearing international trade documents will be linked to the Uganda Electronic Single Window (ESW) as phase two of the system commences.
Ethiopia, China and the United Nations Industrial Development Organization (UNIDO) have agreed to strengthen collaboration on investment promotion, industrial parks development – including the Adam Industrial Park – and the upgrade of technical and vocational education and training.
Despite being the fastest growing sub-region of the continent with an economic growth rate of 6.7 per cent, second in the world to East Asia, East Africa is lagging behind in terms of its structural transformation.
Notwithstanding the negative growth recorded in 2016, the real estate sector is expected to grow at an average rate of 5.39 per cent between 2017-2020.
Two weeks to the opening of the Abuja airport runway to traffic, the Minister of State, Aviation Sen. Sirika Hadi Sirika, has said the runway is 75 percent completed.
The amount of businesses embracing an online strategy is driving an urgent review of legacy infrastructure according to Michele McCann, business development manager, Teraco.
Marriott International, Inc. has announced its first property in Kenya with the opening of Four Points by Sheraton Nairobi Hurlingham. Owned by Kamcan Properties Limited, the hotel is strategically located in the upmarket suburb, close to the city center
The Executive Board of the International Monetary Fund (IMF) has approved a three-year arrangement under the Extended Credit Facility (ECF) for Benin for an amount of $ 151.03 million, or 90 percent of Benin’s quota to support the country’s economic and financial reform program.
TradeMark East Africa (TMEA) has signed a Memorandum of Understanding with Democratic Republic of Congo (DRC) to facilitate projects that will improve cross border trade and enhance trade links between the country and East Africa Community member states.
Over 500 high-level delegates from Morocco and Rwanda gathered in Rwanda for the African Business Connect 2017 which has seen the signing of key agreements including between the National Federation of Electricity and Renewable energy and private developers within the renewable energy sector in Rwanda.
The Kenyan cabinet has approved the creation of the Nairobi Metropolitan AreaTransport Authority, key to removing the capital’s traffic gridlock and unlocking its vast economic potential.
"The authorities should advance rapidly with critical reforms aimed at translating investment into strong, inclusive, and job-creating growth," says the IMF’s mission chief for Djibouti Eric Mottu.
The Informal Economy, or if you have a penchant for the more colourful descriptor, the “Shadow” or “Grey” Economy, is typically the term used to refer to the portion of a country’s economy that transact exclusively in cash
The Government of Madagascar faces an International Labour Organization (ILO) complaint over its treatment of 43 dockworkers who were sacked for joining a union.
The World Bank’s Executive Board has approved a new $150 million project to increase the efficiency of trade logistics in Ethiopia.
The Board of Directors of the African Development Bank (AfDB) has approved a $450 million trade finance package for the African Export–Import Bank (Afreximbank).
International Finance Corporation, a member of the World Bank Group, and the OPEC Fund for International Development (OFID) today announced an investment of $10 million each in Metalco Industries Company Limited, a Zambian company that recycles metal scrap to manufacture copper cables, lead-acid batteries, aluminum sheets and utensils.
The European Investment Bank (EIB) has pledged new support for Kenya’s projects in the power and transport sectors. With Cabinet Secretary for the Treasury Henry K. Rotich, the signature of a connectivity project was announced.
The African Development Bank Group (AfDB) approved $253.0 million of loans to the Governments of Kenya $147.3 million and Uganda $105.7 million for the upgrading of 118 km road section connecting the two countries as well as the construction of the 32 km Eldoret town bypass, in Kenya
The European Investment Bank has signed two new credit lines for East-Africa for a total of approximately $100 million to be made available through Equity Bank and HFC Limited to support smaller local projects in Kenya, Tanzania, DRC and Uganda.
The much anticipated railway line in Rwanda will delay until 2030 – East African Legislative assembly members meeting in Kigali have said.
The African Development Bank top Executive in charge of the African Natural Resources Center Amani Abou-Zeid was elected African Union Commissioner for Infrastructure and Energy at the latest AU Summit in the Ethiopian capital Addis Ababa.
China Railway, one of the major companies operating in infrastructure construction and manufacturing of engineering equipment and components, is opening an office in Tunisia
Aliko Dangote is presently the owner of the largest crawler crane in Africa. The businessman bought the crane from Chinese construction company, XCMG Construction Machinery Co Ltd, a Company dealing in heavy machineries.
Financial services group Sanlam is set to announce further investment in Zimbabwe’s Masawara Insurance, increasing its stake in the company beyond the 40 percent it holds.
New carrier Djibouti Shipping Lines (DSL) is planning to launch a container shuttle service in April connecting Djibouti to Berbera (Somaliland), according to reports.
A report commissioned by the Kenya Association of Manufacturers in partnership with Suppliers Association of Kenya and Retail Trade Association of Kenya, Retrak has been hailed as key in assisting the sector in regulation.
Sophia Genetics global leader in Data-Driven Medicine has unveiled the list of African hospitals that have started integrating SOPHiA, the company’s artificial intelligence, into their clinical workflow to advance patients’ care across the continent.
Marriott International to debut Aloft Hotels in Mauritius with signing of the brand’s first adaptive re use project in Africa
Marriott International, Inc. has announced plans to launch its cutting-edge Aloft brand in the capital city of Mauritius with the signing of Aloft Mauritius Port Louis. Slated to open in early 2019, the hotel will be the brand’s first adaptive reuse project in Africa.
VOSS Water Norway partners with Voss Foundation to promote clean water, sanitation and hygiene initiatives in Sub-Saharan Africa
Over 300 million people in Sub-Saharan Africa lack access to clean water which is approximately the same as the population of the United States.
Guinness Nigeria Plc has constructed seven hand pump water boreholes in Bebi Community, Obanliku Local Government Area (LGA) of Cross River State.
Halima Aliko Dangote was recently appointed the president of The Africa Center in New York City (with the major responsibility of raising capital for the center. The goal is to raise funds to complete the center building in New York.
The World Bank’s Board today approved a $200 million credit to support the Government of Nigeria’s response to the acute humanitarian and forced-displacement crisis triggered by the Boko Haram conflict in North East Nigeria. T
[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.
Garmin in collaboration with MTN Nigeria partner to introduce a range of world class health and fitness devices to help boost fitness standards while maintaining a healthy lifestyle.
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.
Egypt is one of the fastest growing and most promising economy in Africa. Egypt's high growth rate in recent years was driven by high international tourist inflow, growth in trade & logistics and ICT market. Egypt GDP is growing at a moderate rate of 4.3% in 2015.
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.
American pharmaceutical and consumer packaged goods manufacturer has set up shop in Nairobi Kenya and Accra Ghana representing a novel approach to how Johnson & Johnson seeks to develop partnerships, products and service delivery models that address neglected and emerging health issues.
[Somaliland] Africa Water Facility sinks $3.2 million to build climate change resilience and reduce water stress
The African Water Facility (AWF) has held a launching ceremony and workshop to officially kick-start the Water Resources Management and Investment Plan project for Somaliland.
Despite increased political and financial volatility in South Africa, its cities fell within the top 100 of the world’s highest quality of living and remain attractive destinations for expanding business operations and sending expatriates on assignment, according to Mercer’s 19th annual Quality of Living survey.
International Finance Corporation, and CDC Group, the UK’s development finance institution, will invest up to $35 million in Africa Logistics Properties Holding (ALP), a developer and manager of modern, grade-A warehousing, filling an important gap in logistics infrastructure in the region.
South Africa has celebrated the reopening of Elandsfontein Intermodal Terminal saying it would enhance the competitiveness of the rail system in the country.
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.
The World Bank’s Board of Executive Directors have approved today a $150 million financing in support of the Moroccan government’s goal of modernizing its national identification system and provide financing to promote innovative startups and job creation.
Ministers from nine African nations (Morocco, Angola, Burundi, Central African Republic, Chad, Democratic Republic of Congo, Gabon, the Republic of the Congo and Rwanda) have today gathered in Oyo at the invitation of the President of the Republic of the Congo to sign a Memorandum of Understanding on the creation of the Congo Basin Blue Fund.
East Africa Metals Inc has announced the closing of a $5.2M private placement with Shandong Tyan Home Co., Ltd. , a Chinese listed public company. The private placement will finance ongoing exploration and project development activities at the Company's Harvest and Adyabo projects, located in the Tigray region of the Federal Republic of Ethiopia.
Togo Ministry of Health, Samsung and Vision Togo partner to bring state-of-the-art medical facilities to Togo
At least 24 villages in the Kara region are expected to benefit from a new health initiative spearheaded by Samsung, the Togo Ministry of Health and Vision Togo.
A new United Nations Industrial Development Organization (UNIDO) project will develop an entrepreneurship curriculum for senior secondary schools in Nigeria.
South Africa's Merchant Shipping Act refers to stowaways as follows: “No person shall go to sea in a ship without the consent of the owner, master, a ship’s officer or some other person entitled to give that consent, or secrete himself for the purpose of going to sea without that consent.”
The World Bank has approved a $145.5 million loan to the Republic of Botswana for the Emergency Water Security and Efficiency Project.
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.
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.