The World Bank approved a $400 million program to support Morocco’ social protection system, as part of the kingdom’s sweeping reforms to strengthen its social safety nets.
IFC announced a loan to I&M Bank Rwanda, to help the bank increase lending to potentially thousands of Small and Medium Sized enterprises in Rwanda, many of which are facing COVID-19-related liquidity challenges.
Société Générale and the European Investment Bank (EIB) confirmed agreement of a new joint initiative to support economic development across Cameroon.
Over the last two decades, Ethiopia has registered fast economic growth which has led to significant national poverty reduction.
IFC invests in Mali mineral lime producer to boost agribusiness, support mining sectors’ local content
IFC announced an investment in Carrières et Chaux du Mali, to help the company increase production of agricultural lime and quicklime, essential inputs that will strengthen Mali's important agriculture and mining industries.
IFC, a member of the World Bank Group, has signed its first formal agreements with the Federal Government of Somalia to support the country's goal to strengthen its private sector, attract investment, improve public services, and create jobs.
Despite the profound crises of 2020 which have jeopardized hundreds of thousands of jobs across Africa, the African Energy Chamber expects employment to remain strong due to ongoing capital projects sanctioned since 2018.
A warehouse manager has one of the most challenging jobs around. They have many responsibilities and have to oversee one of the most complex yet critically important aspects of the business.
The Free State-based Botshabelo Industrial Park has attracted investments to the tune of more than half-a-billion rand because of the revitalisation programme being rolled out in the park by the Department of Trade, Industry and Competition (the dtic).
As we move towards a post-pandemic world of work, the traditional workplace model will shift to embrace an emergent hybrid workforce of office-based and remote workers.
World Bank supports establishment of Development Bank Ghana to boost access to finance, job creation
The World Bank approved $250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG) to increase access to long term finance and boost job creation.
[Column] Grace Kamau, Gulraj Grewal: Mental Health: Beyond the Investments – Work from Home or live at work?
While the country is starting to reopen, many organizations are choosing to continue imposing a work from home policy.
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.
Following the signing of the contract with the China Harbour Engineering Company (CHEC) in August, construction works have now officially begun for the Côte d’Ivoire Terminal (CIT), Abidjan’s second container terminal.
The International Air Transport Association (IATA) warned that the airline industry will burn through $77 billion in cash during the second half of 2020 (almost $13 billion/month or $300,000 per minute), despite the restart of operations.
Recruiting and staffing have become more complex, technology driven and many businesses view this disruption as a threat. They need to understand that they cannot continue using traditional methods and keep doing things the same old way.
IFC announced an investment in an Egyptian private equity fund to help improve access to capital for small- and medium-sized companies in the country, supporting their resilience, growth, and ability to create jobs.
The United States, through the USAID and Egypt’s Ministry of International Cooperation signed an agreement to add $22.8 million to the five-year Inclusive Economic Governance bilateral assistance agreement.
Mastercard study highlights the digital divide that needs to be addressed to power gig economy growth in East Africa
Mastercard released a white paper revealing how gig work across East Africa is helping to drive economic growth by facilitating economic opportunities, improving livelihoods, and acting as a buffer against unemployment.
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.
160,000 poor rural households in Lesotho will benefit from new financing for a project that will boost food security and nutrition, mitigate the impact of climate change and strengthen livelihoods for greater income.
65% of Kenya's workforce already earning less and more than half expecting the pandemic to further affect their income and/or employment, report
A Standard Chartered survey finds that COVID-19 is significantly impacting personal finances globally, with one-third (65% in Kenya) already earning less and more than half expecting the pandemic to further affect their income and/or employment.
[Column] Reem Asaad: The changing face of technology in Africa and the Middle East, how efforts at improving gender equality are making a difference
Among the world’s top 10 global tech giants, women hold just 19% of tech-related jobs. In South Africa this figure amounts to 23%, according to Women in Tech ZA.
The U.S. Trade and Development Agency (USTDA) awarded a grant to Senegal’s national utility - Société Nationale d’Electricité (Senelec) for training that will help bring power to 440,000 people in rural communities using American technology.
The U.S. International Development Finance Corporation (DFC) approved investments this quarter totaling more than $2.5 billion across nine projects that will advance development in Africa, Latin America, and emerging markets across the globe.
More than 8 500 jobs will be created through the Tshwane Automotive Special Economic Zone (TASEZ), and up to 70% of those jobs will go to local residents of Mamelodi and surrounding areas in Pretoria, South Africa.
The World Bank approved $75 million development policy operation for Madagascar to mitigate the impact of the COVID-19 crisis.
Africa CDC, in partnership with IHR Strengthening Project of Public Health England, launched a web-based tool, AVoHC Net, to facilitate rapid deployment and better administration of a standby workforce for public health emergencies across Africa.
The European Investment Bank (EIB), and al Amana Microfinance announced the signature of a €3 million finance contract supporting access to financing and the development of Moroccan micro-enterprises.
An unforeseen work-from-home revolution has caught many companies by surprise as most employees have now been forced to work from home.
Abdul Said Konde is a youth resident in Tudor informal settlement in Mombasa County. Like thousands of other young people across the country, he is not formally employed and the Covid-19 pandemic has made it even harder to access manual jobs.
Mental health is said to be a state of well-being in which an individual realizes his or her own abilities, to cope with the normal stresses of life, work productively, and is able to make a contribution to his or her community.
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.
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.
According to Mercer’s When Women Thrive 2020, Sub-Saharan Africa Report, key areas such as advancing and retaining female employees have shown some progress over the past few years.
The Botshabelo Digital Hub site has been revitalised and is ready to enhance job creation in the Free State.
In an effort to cover the informal sector in Zambia, Workers’ Compensation Fund Control Board (WCFCB) has embarked on a programme to extend social protection to the informal economy and domestic workers will be given priority this year.
High Court rules in favour of government to localise production of industrial components in South Africa
The Gauteng High Court ruled in favour of Government in a matter involving procurement conditions applicable to electrical transformers, a judgement that will boost efforts to localise production of key industrial components in South Africa.
The European Investment Bank (EIB) and the Afreximbank are directing €300m of financing to support the resilience and recovery of African nations in response to the COVID-19 pandemic.
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.
[Ghana] COVID-19 forced businesses reduce wages for over 770,000 workers, caused 42,000 layoffs, study
The shock caused by the COVID-19 pandemic has had considerable impacts on Ghanaian businesses, forcing many firms to cut costs by reducing staff hours, cutting wages, and in some cases laying off workers.
South Africa responded swiftly to the COVID-19 pandemic, but the sharp drop in activity adds to long-standing challenges and raises the urgency for structural reforms, according to a new OECD report.
The World Bank approved a $40 million grant from the International Development Association (IDA) to support investment and growth of Small and Medium Enterprises (SMEs) in non-mining productive sectors.
The United States Trade Representative and Kenya Cabinet Secretary for Industrialization, Trade, and Enterprise Development formally launched trade agreement negotiations between the United States and the Republic of Kenya.
The African Continental Free Trade Area (AfCFTA) represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion, a new World Bank report has found.
IFC is launching a new advisory program to improve women employment opportunities in Egypt, by highlighting how private sector companies can tap into the country’s large, underutilized female talent pool and spur economic growth.
A six-year project to develop industrial skills among Ghana’s workforce has improved the engineering and manufacturing skills of young people, promoted economic competitiveness and contributed to an improvement in the quality of life.
The European Bank for Reconstruction and Development (EBRD) is supporting Egypt’s New Urban Communities Authority in its plans to diversify funding sources by tapping the debt capital market with an investment of €86.5 million.
IFC announced a $12 million loan to Rider Iron and Steel Ghana to support the company’s construction of a steel manufacturing plant that will increase Ghana’s domestic steel production, creating thousands of jobs.
IFC announced it will provide €23 million in financing to Tunisian company One Tech Holding to spur job creation and economic growth in Tunisia and Morocco.
Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, a rate that outstrips other African regions and is forecast to rebound to 3.7 percent in 2021, according to the AfDB.
A new African Centre of Excellence for sustainable cooling and cold chain based in Rwanda will help get farmers’ produce to market quickly and efficiently, reducing food waste, boosting profits and creating jobs.
The OPEC Fund for International Development (the OPEC Fund) signed a $95 million loan agreement with Egypt to help create thousands of job opportunities and boost self-employment in the North African country.
I hear this a lot, “We are in unprecedented times.” Actually, to borrow from author and motivational speaker Simon Sinek, we are not. We have been through tough business situations like this before.
The Minister forTrade, Industry and Competition issued a trade policy directive to the International Trade Administration Commission of South Africa to urgently look into measures to help support the metals industry.
If the World Economic Forum (WEF) is to be believed, then business across the globe could be facing a reskilling emergency.
Del Monte Kenya Limited has unveiled a six bed isolation room to be used in the event of employees exhibiting Corona virus symptoms before they are referred to the Government health facilities.
The World Bank approved $315 million from the International Development Association (IDA) to support job creation, skills development and digital transformation in Ghana.
The International Finance Corporation (IFC) is providing €10 million in funding to the Tunisian date processing company VACPA.
The President of Dangote Group said that despite the challenging economic situation in 2019, Dangote Cement was able to sustain 54,000 jobs in four African countries where the company has its operations.
The World Bank approved a $100 million grant from the International Development Association (IDA) to support the Government of Sierra Leone in promoting sustainable and inclusive growth and building economic resilience.
Amazon announced the creation of 3,000 new virtual jobs in Customer Service in South Africa this year.
[Column] Phyllis Wakiaga: Kenya economic recovery is anchored on saving lives and securing livelihoods
The International Labour Organization (ILO) highlights that protection of workers and their families from the risk of infection should be a top priority for all economies at this time.
The International Air Transport Association (IATA) released its financial outlook for the global air transport industry showing that airlines are expected to lose $84.3 billion in 2020 for a net profit margin of -20.1%.
MultiChoice Group (MCG) announces its partnership with the Youth Employment Service (YES) initiative which has resulted in the creation of 400 new job opportunities.
The African Development Bank (AfDB) approved a $500,000 emergency assistance grant to Egypt to provide food relief, and to contribute to restoring the livelihoods of vulnerable populations severely affected by COVID 19.
The Covid-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year from fossil fuels to renewables and efficiency, the IEA said in a new report.
The current global Coronavirus crisis has exposed many flaws and gaps in the way businesses operate, but what has become glaringly apparent is how organisations are not prepared to handle cybersecurity requirements of a remote workforce.
The African Union Development Agency (AUDA-NEPAD) and the Council for Scientific and Industrial Research (CSIR) are strengthening their partnership through formalised technical cooperation to accelerate technology development in Africa.
Manufacturers and distributors are operating in intensely pressured times. Stats SA reported that manufacturing output contracted for the ninth consecutive month in February of 2020.
Urgent action is needed to safeguard the biodiversity of the world's forests amid alarming rates of deforestation and degradation, according to the latest edition of The State of the World's Forests.
The President of the Republic of Ghana launched the GH¢1 billion Coronavirus Alleviation Programme Business Support Scheme.
The Cargill Cocoa & Chocolate 2018-2019 Sustainability Progress Report has highlighted how Cargill is using technology to connect every dot in the cocoa supply.
All the funds totalling R250 million assigned to Standard Bank by the South African Future Trust (SAFT) have been allocated to the employees of qualifying SMMEs, after six weeks of administering the fund.
As businesses across the country start returning to work, the safety of employees and customers is of paramount importance; Vodacom has created specific digital solutions to support businesses as they navigate their return to work.
The Covid-19 crisis has, at least temporarily, brought thousands of people to the home office. The question is, what happens after the pandemic? Are companies returning to the old models with only physical presence?
COVID-19 will trigger a sharp drop in household incomes in Middle East and North African (MENA) countries that are fragile and in conflict situations, such as Afghanistan, Djibouti, Iraq, Lebanon, Sudan, and Somalia.
EXIM approves amended financing of U.S. exports to Mozambique LNG project, support more U.S. jobs in additional states
The BOD of the EXIM unanimously voted to amend the agency’s previously approved September 2019 direct loan supporting U.S. exports for the development and construction of an integrated LNG project in Mozambique.
[South Africa] Employers of domestic workers, farm labourers called upon to apply for UIF lockdown benefits
The Department of Employment and Labour is making all efforts to reach domestic workers and farm labourers so that they can benefit from the COVID-19 relief scheme.
Against the backdrop of a devastating pandemic, the global economy is projected to contract sharply by 3.2 per cent this year, according to the United Nations World Economic Situation and Prospects (WESP) mid-2020 report.
The European Investment Bank (EIB) has signed a financing agreement of $100 million with Banque du Caire (BDC) to finance the investments of Egyptian small and medium enterprises (SMEs) in the manufacturing and services sectors.
In light of the coronavirus pandemic, it has become even more critical for organizations to properly manage the impact of a disaster.
New research from the United Nations World Tourism Organization (UNWTO) shows that 100% of global destinations continue to have restrictions on travel in place, and 72% have completely closed their borders to international tourism.
In recent years, working from home has been a perk for some. Suddenly it became an imperative for many, as demand for remote work soared globally in only a few weeks. This has been a profound shift for society at large.
The Unemployment Insurance Fund (UIF) has disbursed almost R9.5 billion through the COVID-19 Temporary Employer/Employee Relief Scheme (TERS).
International air transport and tourism bodies launch appeal to support African travel, tourism sector
Five international air transport and tourism bodies have launched an appeal to international financial institutions, country development partners and international donors to support Africa’s Travel & Tourism sector.
The South African Revenue Service says the country’s tax and revenue performance has taken a knock as a result of an ailing economy compounded by the COVID-19 pandemic.
The business activity index of the Absa PMI survey crashed to an all-time low of a mere 5.1 index points in the month of April.
DEG, Deutsche Investitions- und Entwicklungsgesellschaft mbH is investing in a Kenyan local supermarket chain, Naivas.
DEG is providing a loan from the AfricaConnect programme funded by the Federal Ministry for Economic Cooperation and Development (BMZ) to finance the production of organic macadamia nuts from German-Kenyan company, Limbua.
The International Air Transport Association (IATA) announced global passenger traffic results for March 2020 showing that demand (measured in total revenue passenger kilometers or RPKs) dived 52.9% compared to the year-ago period.
[South Africa] Sasol to implement additional cash conservation measures amid continued market volatility
Sasol announced that it was implementing additional cash conservation measures to provide a further buffer against short term volatility due to the continued negative impact of COVID-19 on market demand.
Oxfam International, together with over 100 NGOs, activists, and academics, raised an alarm regarding the plummeting Somali remittances amid the COVID-19 crisis.
The COVID-19 pandemic has prompted all destinations worldwide to introduce restrictions on travel, research by the World Tourism Organization (UNWTO) has found.
The World Bank approved $273 million for Togo, Benin, Burkina Faso and Niger to facilitate access to services for millions of people through the West Africa Unique Identification for Regional Integration and Inclusion (WURI) Program.
The World Bank approved a $40 million International Development Association grant for South Sudan Safety Net Project (SSSNP) which will expand access to safety net and provide income security for low income South Sudanese.
About 1.5 million more South Africans will from 1 May return to work as government begins to lift a fraction of COVID-19 lockdown regulations.
The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook.
Absa has partnered with the South African Future Trust (SAFT) to administer the disbursement of funds to SMME employees whose income will be impacted in the wake of the COVID-19 pandemic.
The Global Tourism Crisis Committee has united behind the World Tourism Organization’s rallying cry for governments to “go beyond words” and begin taking decisive action to safeguard the millions of jobs under threat due to COVID-19.