News

Stronger private sector could boost Nigeria’s economic growth, IFC, World Bank report

10-21-2020 | 06:12:00
A new report from IFC and the World Bank focused on the health of Nigeria’s economy finds that a broader private sector-led growth strategy could help Nigeria realize its immense potential by attracting more investment.

Jumia launches Kenya Food Index 2020

10-16-2020 | 06:17:43
According to the recently published Kenya Food Index 2020, Chicken is the most popular cuisine among online customers Kenya.

World Bank confirms economic downturn in Sub-Saharan Africa, outlines key polices needed for recovery

10-08-2020 | 06:45:00
Driven by the economic fallout of the COVID-19 global pandemic, growth in Sub-Saharan Africa is predicted to fall to -3.3 percent in 2020, pushing the region into its first recession in 25 years, according World Bank's latest regional economic analysis.

Cloud strategies to fuel innovation across Africa, report

10-02-2020 | 07:14:00
Organisations across sub-Saharan Africa are increasingly leveraging multiple cloud deployments to achieve digital transformation.

Addressing youth unemployment in Ghana needs urgent action, report

09-30-2020 | 06:47:00
A new World Bank report identifies agribusiness, entrepreneurship, apprenticeship, construction, tourism and sports as key sectors that can offer increased employment opportunities for Ghanaian youth.

Nearly half the world’s population still lacks access to modern energy cooking services, report

09-24-2020 | 10:02:00
Four billion people around the world still lack access to clean, efficient, convenient, safe, reliable, and affordable cooking energy, a new World Bank report finds.

South Africa, Kenya and Nigeria saw millions of cyber attacks in 2020, report

09-22-2020 | 14:14:00
Kaspersky security solutions has reported on 28 million malware attacks in 2020 and 102 million detections of potentially unwanted programs accounted for by the beginning of August 2020.

Illicit gold trade thrives with impunity in the Democratic Republic of Congo, report

09-17-2020 | 14:05:00
IMPACT’s newest report reveals how the Democratic Republic of Congo’s (DRC) illicit gold trade continues to thrive despite efforts to clean up the sector.

Network ‘As a Service’ adoption to grow by 41% in the next one to two years in EMEA, report

09-03-2020 | 11:32:00
In response to the pandemic, IT leaders in EMEA are now investing more in cloud-based and AI-powered networking technologies as business recovery plans take shape, according to research from Aruba, a Hewlett Packard Enterprise company.

South Africa's GDP will take at least five years to recover from COVID-19 impact, UNDP

08-26-2020 | 07:15:00
South Africa’s overall GDP is expected to decline by at least 5.1 and up to 7.9 percent in 2020 and recover slowly through 2024. This will lead to major setbacks in addressing poverty, unemployment and inequality, according to a new UNDP study.

Ghana’s slow fiscal consolidation may add to rating strains, Fitch Ratings

08-21-2020 | 12:38:00
Ghana’s plans to pursue fiscal consolidation more slowly than the government had previously indicated may lead to a higher public debt trajectory and could be a source of downward pressure on the country’s ratings, Fitch Ratings says.

Impact of COVID-19 on African aviation and economies is worsening, IATA

08-19-2020 | 10:06:00
The International Air Transport Association (IATA) released new data indicating that the impact of COVID-19 on Africa’s aviation industry and economies has worsened sharply since the previous assessment in April.

South African banks' profits to slump as credit losses soar, Fitch Ratings

08-18-2020 | 10:07:00
South African banks’ 1H20 results will confirm a slump in operating profits due to a surge in credit losses caused by the coronavirus pandemic, Fitch Ratings says.

[South Africa] Absa PMI for July signals improvement in the manufacturing sector

08-05-2020 | 08:27:00
The Absa Purchasing Managers’ Index (PMI) for July declined slightly compared to the previous month, but continued to signal a further month-on-month improvement for conditions in the manufacturing sector.

Nigerian Breweries earns ₦151 billion revenue, ₦5.7 billion profit for first half of 2020

08-05-2020 | 07:22:00
Nigerian Breweries has announced a Revenue of ₦152 billion for the period under review and Profit After Tax (PAT) of ₦5.7 billion according to its unaudited and provisional results filed with The Nigerian Stock Exchange.
 
Features

[Africa Business Panel] 6 percent of African Business Professionals expect their companies not to survive the Covid-19 Crisis

10-22-2020 | 06:57:00
About 2/3 of the African companies (62%) say they are struggling but will survive. Almost a third of companies (29%) say they are doing well and the near future is looking good

New analysis shows onshore wind potential across Africa enough to power the entire continent many times over

10-01-2020 | 08:47:00
Developing Africa’s huge onshore wind energy potential can boost its transition to affordable and reliable clean energy. For the first time ever, wind and solar made up the majority of the world’s new power generation in 2019.

[Survey] Threats and Opportunities for African Business in 2020 and beyond

09-26-2020 | 10:37:00
As a valued member of Africa Business Communities, we invite you to participate in this a survey to better understand the impact of COVID19 on the current economy in general and within specific industries, but also look at the near future

Finance for renewables in developing countries on the rise, IRENA highlights

09-23-2020 | 07:12:00
Global finance to developing countries in support of clean and renewable energy reached $21.3 billion in 2017, which almost doubles the level from 2010 when international financial flows were at $10 billion.

[Column] Olagoke Aluko: Liquefied Petroleum Gas (LPG) regulations lead the way in reshaping consumer behaviour and industry in Kenya

08-22-2019 | 08:26:00
Kenya has paid a heavy price in lives lost for its slow uptake of LPG as a cooking fuel.

[Nigeria Business Week] Industries partner to reach common goals

01-10-2019 | 10:57:00
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.

[SA Business Week] Key sectors appointments and a busy air route

10-05-2018 | 16:19:00
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.

[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.