News

Higher economic growth in Africa to impact energy consumption, study

08-10-2018 | 10:33:08
Africa, with its wealth of natural resources and fast-growing population, may have a significant impact on international energy markets over the next 25 years.

[Nigeria] GT Bank records $1billion profit in first half of 2018

08-09-2018 | 10:55:00
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.

[South Africa] Key sectors record job losses, labour survey

08-01-2018 | 11:19:12
South Africa’s official unemployment rate increased by 0,5 of a percentage point to 27,2% compared to the first quarter of 2018.

Madagascar economy projected to grow 5% in 2018 - report

07-31-2018 | 09:00:00
Overall, the economy has been performing well, with growth estimated at 4.2 % in 2017 and projected at 5.0 % in 2018, according to the latest edition of the World Bank’s Madagascar Economic Update, released today.

AfDB signs $41m grant for Sudan’s Agriculture Development Project

07-30-2018 | 07:45:00
The African Development Bank on Thursday signed a US$41-million grant agreement with Republic of Sudan to finance a public sector Agriculture Value Chain Development Project in the country.

[Nigeria] Oando posts N8.5b profit-after-tax H1 2018

07-30-2018 | 06:53:00
Oando has announced its unaudited results for the six months period ended June 30, 2018. Commenting on the results Wale Tinubu, Group Chief Executive, Oando PLC said:

High mobile sector taxation in DR Congo slowing penetration, report

07-26-2018 | 06:07:00
The GSMA has announced the findings of its latest report, ‘Reforming mobile sector taxation in the Democratic Republic of the Congo (DRC): Enabling economic growth through a supportive tax system’.

Africa-India trade records tenfold growth, report

07-25-2018 | 08:36:00
Trade between Africa and India rose more than 10-fold between 2001 and 2014, making India Africa’s fourth-largest national trading partner, according to a new report.

[Kenya] Private sector activity records improvement, Stanbic Index

07-24-2018 | 12:08:10
Latest survey data from Stanbic Bank Purchasing Managers’ Index™ signals a robust, albeit softer, improvement in business conditions across Kenya’s private sector in June.

AfDB approves $250m Risk Participation Agreement with ABSA

07-23-2018 | 05:42:00
The Board of Directors of the African Development Bank has approved an unfunded US$ 250-million Risk Participation Agreement with ABSA Bank Limited.

World Bank approves $60m credit for Ghana's Energy and Tourism sectors

07-17-2018 | 08:17:00
The World Bank has approved two International Development Association (IDA)* credits of $60 million for the Ghana Energy Sector Transformation Initiative Project and the Ghana Tourism Development Project.

[Kenya] Residential real estate returns dip on interest rate caps

07-10-2018 | 10:48:46
Cytonn Real Estate, the development affiliate of Cytonn Investments, has released its Nairobi Metropolitan Area Residential Report – 2017/2018.

Expansion of hotel chains drives sector growth, PWC report

07-05-2018 | 08:36:00
Africa’s hotel sector has the potential for further growth over the next five years. An increase in the number of travelers, and an expansion in a number of hotel chains reinforces the hotel sector’s untapped potential for business growth.

USTDA and AfDB expand procurement partnerships in Africa

07-03-2018 | 08:06:00
The African Development Bank has signed a memorandum of understanding with the U.S. Trade and Development Agency to partner under USTDA’s Global Procurement Initiative: Understanding Best Value.

Nigeria still leads West Africa hotel expansion - survey

06-28-2018 | 07:41:00
Nigeria holds its pole position for hotel development in West Africa despite a slight reduction on last year, according to a regional focus by the influential annual hotel pipeline survey from Lagos-based W Hospitality Group.
 
Features

[Nigeria Business Week] With Construction, Agribusiness, Oil and Gas and startup hubs, Nigeria leaves no sector behind

05-24-2018 | 13:15:00
Two years ago Nigeria was as good as drowning in debts, unemployment, reduced investment and general widespread discontent. Today, though still a work in progress, the country has exited recession and is fast regaining its momentum.

[Startup Interview] Renaldo Bothma, Managing Director, HomeFixer, South Africa

05-21-2018 | 11:34:00
Renaldo Bothma is a professional rugby player and founder of a new app, Homefixer, an app to help fix any household related issue at the push of a button.

[Column] Gilbert Saggia: Data - the fertilizer that will feed Africa's agricultural transformation

03-27-2018 | 13:27:00
Everywhere we look, technology is being touted as the enabler of a new era of African agricultural prosperity. The exciting world of possibilities offered by blockchain, IoT and machine learning has made companies, governments and policy-makers sit up.

[Column] Benjamin Coetzer: Combating cloud’s biggest security risk - the user

03-20-2018 | 10:54:00
Cloud is coming into its own. Forrester says that public cloud platforms, business services, and applications will reach $236B by 2020.

Nigerians seek next level shopping experience - Nielsen findings

10-16-2017 | 07:45:00
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.

[Column] Frances Okosi: The rise of renewable energy across Africa

06-01-2017 | 10:12:00
The extent of the power deficit across Africa is well documented and increasing electricity generation across the continent is the focus of a number of initiatives at both national and supra-national level.

Africa presents a mixed foreign direct investment picture - EY Africa Attractiveness report

05-03-2017 | 07:33:00
According to EY’s latest Africa Attractiveness report, heightened geopolitical uncertainty and “multispeed” growth across Africa present a mixed FDI picture for the continent.

[Column] Brett Parker: Between East & West, Africa's economic transformation will create a third centre of global power

04-19-2017 | 10:06:00
What a difference a century makes. If we stepped back in time to a hundred years ago we'd find a primitive China; a Middle East that had yet to discover the riches of oil and most of Southeast Asia consisted of countries that were barely distinguishable from medieval societies.

Casablanca and Nairobi rank leading destinations for Fortune 500 companies establishing international headquarters

04-18-2017 | 09:44:00
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.

Powering Africa's Transformation - Tony Elumelu, Aliko Dangote, Carlos Lopes

04-14-2017 | 07:34:00
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.

Economic growth in East Africa remains strong despite drought - Report

04-14-2017 | 07:17:00
East Africa's economy has continued to grow despite the adverse effects of drought being felt across the region according to ICAEW's (the Institute of Chartered Accountants in England and Wales) latest report.

[Column] Jaco Lotz: Growth in middle class drives private education boom in Africa

04-04-2017 | 12:38:00
Private universities and schools are mushrooming across Africa, as parents increasingly seek a quality education for their children outside of the state offering - a move which is largely attributable to the rapid growth of the middle class on the continent.

The Global Gig Economy and its Implications for African Digital Workers - Professor Mark Graham

03-27-2017 | 09:18:24
Oxford professor Mark Graham, addressing the 4th UNI Africa Conference in Dakar, Senegal, warned of the danger of ‘parasitic capitalism’ where digital companies give little back to the places where they are embedded and platform workers are left to fend for themselves.

[Column] Mariam Abdullahi: Africa’s mobile revolution: strategic focus areas for telcos in 2017

03-24-2017 | 04:55:22
Despite on-going economic challenges and some tricky regulatory issues, Africa is fast approaching the 1bn mobile subscriptions landmark. The continued rollout of 3G and 4G networks, as well as an influx of low-cost smartphone

[Column] Jens Ischebeck: Edtech - A growth area for Africa

03-20-2017 | 09:44:58
EdTech is the use of digital education technology to facilitate teaching and learning. It’s a rapidly expanding sector with enormous potential. Providers around the world are now incorporating education technology into their delivery strategies.