In less than a month, South Africa has witnessed a massive wave of rentrenchments, as companies across multiple sectors have announced job cuts running into almost 10,000.
IFC and the government of the Netherlands launched a pioneering multi-sector program in Jordan and the Middle East and North Africa to help create a stronger private sector, unlock new markets, support entrepreneurship, and create jobs.
Leaving no place behind within the MENA is critical for economic growth, social inclusion, World Bank
Where someone is born in the Middle East and North Africa (MENA) should not determine their ability to succeed in life, according to a new World Bank report.
The South African government is committed to stimulating the growth of the country’s furniture industry in order to ensure that it contributes maximally in creating jobs and growing the country’s economy.
The African Economic Outlook 2020 states that Africa’s economic growth has stabilized at 3.4 percent in 2019 and is expected to pick up to 3.9 percent in 2020 and 4.1 percent in 2021 but to remain below historical highs.
During the unveiling of the AfDB flagship economic report, the Bank's President said that Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens because “nobody eats GDP.''
The UK and international firms should see Africa as a place where they can make a profit, not just do charitable work, according to new research from Overseas Development Institute (ODI).
HCL Technologies (HCL), a leading global technology company, announces to have been named a Top Employer 2020 in the United Kingdom, Sweden, Germany, the Netherlands, Poland, France and South Africa.
The World Bank in partnership with the Netherlands, the United Kingdom, Sweden, and Switzerland, is launching a new, expanded phase of an advisory program to help improve access to finance MSMEs across the MENA region.
USAID and USADF announces plans to award a total of $400,000 in grant funding, with support from Citi Foundation, to 42 young African social entrepreneurs who are developing businesses to drive social and community change.
A World Bank Group delegation of Executive Directors concluded a four-day visit to Egypt and expressed its commitment to continue supporting Egypt's development priorities.
The UK is boosting support to female entrepreneurs in Africa, helping them overcome barriers to starting businesses and connecting them to global markets, announces the International Development Secretary Alok Sharma.
Standard Bank, Africa’s largest banking group by assets, is partnering with the UK Government to sponsor the inaugural UK-Africa Investment Summit, to be held in London on 20 January 2020.
IFC signed a memoranda of understanding with two Tunisian start-up accelerators to help unlock the potential of innovative entrepreneurship in the country, with a focus on women-led start-ups and creating jobs for young people.
Small and medium-sized enterprises in Egypt will benefit from a US$ 150 million financing package from the European Bank for Reconstruction and Development (EBRD) to the National Bank of Egypt (NBE).
A new Lesotho Poverty Assessment finds that poverty fell over a 15-year period, but poverty remains widespread with nearly half of the population living in poverty and 75 percent of the population either poor or vulnerable to poverty.
IFC announced a $41 million investment in Business Partners to strengthen women-owned businesses in South Africa and help create tens of thousands of jobs.
The CEO of Orange Africa and Middle East and the Head of the Development Partnerships Program with the private sector at the GIZ signed a partnership agreement to develop the digital skills of 20.000 young people in 14 countries.
During the World Youth Forum, the Director General of UNIDO met with President of the Arab Republic of Egypt to discuss the UNIDO flagship project in Egypt, the Programme for Country Partnership (PCP).
Equatorial Guinea’s Ministry of Mines and Hydrocarbons has concluded its evaluation of work programs and budget meetings of multiple oil blocks in the country, corresponding to the 2020 fiscal year, which has yielded many successful results.
[Malawi] World Bank economic analysis urges for more investments in nutrition for stronger human capital
Malawi’s high levels of stunting and under-nutrition have led to estimated losses of $597 million per year due to increased healthcare costs and lower labor productivity and will continue to lead to lower wages and lost economic output in the future.
Donors of the African Development Fund (ADF) agreed to commit $7.6 billion to speed up growth in Africa’s poorest nations and help lift millions out of poverty.
The Governing Board of the OPEC Fund for International Development (the OPEC Fund) has approved US$310 million of new funding to benefit developing countries across the globe.
Ghana’s economic growth has been strong over the past decade, with annual GDP per capita growth at 4.4 percent between 2006 and 2017.
The World Bank Group has endorsed a new five-year Country Partnership Framework to support Republic of Congo’s development objectives for 2020-2025.
Vodafone Egypt, part of the British multinational telecommunications conglomerate, has topped the list of the best places to work in Egypt for 2019.
On the occasion of her first official visit outside Europe, the new President of the European Commission, Ursula von der Leyen, announced in Addis Ababa, a significant boost to the EU's cooperation with Ethiopia.
The European Commission (EU) announced two new programmes totalling €31 million to boost investment and create jobs in Kenya.
Top Employers Institute, a global organization dedicated to accelerating the impact of people strategies to enrich the world of work, has announced Africa’s Top Employers for 2020.
Even as the global business landscape shift and a growing number of millennium candidates enter the workforce organizations have not put in place measures train employees.
The European Union and COMESA signed 8.8 million Euros Contribution Agreement to increase private sector participation in sustainable regional and global value chains.
The European Bank for Reconstruction and Development (EBRD) is strengthening the competitiveness of small firms in Tunisia by increasing the availability of funds, with a €5 million loan to Compagnie Internationale de Leasing (CIL).
The European Bank for Reconstruction and Development (EBRD) is strengthening its outreach in Morocco with the opening of a third office, in the city of Agadir, which will cover the regions of Souss-Massa and Marrakech-Safi.
COMESA, EAC and ECOWAS launched a digital platform specifically designed to address the information needs of women in business and connect them via a custom-built social networking tool in Kigali, Rwanda.
As organizations evolve and competition to acquire top talent heats up world over, businesses are increasingly realizing the need and essence of investing in their most prized possession; their workforce.
Santam has been officially recognised by the Top Employers Institute as a Top Employer 2020 for excellence in employee conditions.
ECA, ITFC partner to bolster trade between Arab and African countries, generate growth and employment
The Economic Commission for Africa (ECA) and the International Islamic Trade Finance Corporation (ITFC) signed an agreement to step up their cooperation in support to economic and social development as well as trade among their member countries.
Korea, PASET highlights strong partnership on strengthening technical and scientific capacity in Sub-Saharan Africa
The World Bank and PASET noted the impressive strides made in strengthening science and technology in sub-Saharan Africa with Korea’s support through the PASET partnership over the past 6 years.
KfW Development Bank together with Allianz Global Investors have set up a fund of funds that will provide financial resources for African private equity and venture capital funds.
IFC and SOFID, the Portuguese development finance institution, have agreed to work together to support sustainable tourism investments in emerging markets as an engine for growth and job creation.
GreenTec Capital announces an investment into Nigeria-based transportation and logistics app, Drivers NG, which provides on-demand drivers and mobility solutions for Nigeria and the African market.
Qatar Petroleum announced the successful start-up of the Egyptian Refining Company (ERC) Refinery project located in Mostorod, north of the Egyptian capital Cairo.
Standard Bank’s Corporate and Investment Banking Chief Executive, Kenny Fihla, has expressed optimism about South Africa’s long-term economic trajectory, driven by a reform agenda that casts the country on an accelerating growth path.
South African Airways (SAA) has cancelled nearly all its domestic, regional and international flights scheduled for Friday, 15 November and Saturday, 16 November 2019.
Training management firms like Edify Learning Forum Africa, ELFA, have been at the forefront of designing, managing and redefining organizational learning processes in Africa over the years.
South African Airways has informed all its 5146 employees that it is embarking on a restructuring process which may lead to job losses.
IFC, a member of the World Bank Group, has opened an office in Angola to deepen its support for private sector development and economic diversification the country.
Isuzu Motors has confirmed that it will be investing R1.2 billion into the next generation bakkie programme in South Africa.
The CEO of Naspers South Africa has reaffirmed the company’s commitment to drive more investment in backing South African tech founders and entrepreneurs.
The World Bank Group discussed the Country Partnership Framework (CPF) for the Republic of Cabo Verde for the period 2020-2025 to lay out the WBG strategy to accelerate human capital for inclusive service-led growth.
The Deputy Minister of Trade and Industry (the dti) has welcomed Procter & Gamble’s R300 million investment in a new Always sanitary pads manufacturing plant which has created 300 jobs in South Africa.
The Unemployment Insurance Fund's (UIF) has started processing claims for the new Parental Benefits to contributing and qualifying UIF beneficiaries.
Air Afrik will cut roughly 80 per cent of its salaried staff in both Kenya and South Sudan by November as part of the company’s restructuring process.
About 200 youths from Ibeju-Lekki community in Lagos State have graduated from various skills acquisition programme organised by Dangote Petroleum Refinery.
Malawi receives $13.2 million for sustainable fisheries, aquaculture development and watershed management project
The African Development Bank Group has approved a $13.2 million financing package for a fisheries and aquaculture development project in Malawi.
The UK International Development Minister visited Ghana to strengthen trade and investment ties ahead of the UK-Africa Investment Summit in 2020.
Middle East, North Africa faces subdued growth, bolder reforms needed to boost private sector, World Bank
Economic growth in the Middle East and North Africa (MENA) region is projected to slow to 0.6% this year compared with 1.2% last year, according to a new World Bank report.
The Director-General of the dti said that even though global growth remains subdued and South Africa was confronted by a host of indirect risks consequences, it still achieved significant strides in job creation and economic growth initiatives.
Rwanda's President Paul Kagame launched a high tech smartphone factory in the country's capital Kigali, the first of its kind in Rwanda and Africa.
Thousands of people will be safe from the threat of landmines in Zimbabwe, after the UK pledged its support for demining charity The HALO Trust.
IFC is investing $10 million in CardinalStone to expand access to finance for high-growth, underserved small and medium enterprises (SMEs) in Nigeria and Ghana.
During his visit to Senegal, the Member of the Commission in charge of International Cooperation and Development, Neven Mimica, signed cooperation programmes for a total of €27.5 million.
Vodacom Eastern Cape region works across communities that are trapped in a cycle of poverty due to high unemployment and underdevelopment in that province.
The UK Secretary of State for International Development announced a new UK aid package that will help mobilise £500 million in private sector investment and create 50,000 jobs across Sub-Saharan Africa.
The board of directors of the EXIM voted unanimously to authorize a direct loan of up to $5 billion to support the export of U.S. goods and services from multiple states for development and construction of an integrated LNG project in Mozambique.
Rwanda Development Board has announced a strategic partnership with the Mastercard Foundation under the Hanga Ahazaza initiative at a World Tourism Day event.
SAP and UNICEF have announced a new global partnership to provide quality education, life skills and job skills training to young people in disadvantaged communities.
The Argidius Foundation and the Aspen Network of Development Entrepreneurs (ANDE) have declared Amani Institute the winner of the Argidius-ANDE Talent Challenge (AATC).
The Mastercard Foundation has announced Young Africa Works in Senegal, an initiative that aims to enable three million young people to access dignified and fulfilling work by 2030.
GreenTec has announced its investment into Nigeria’s Save n Flex.
[Kenya] Safaricom retains its Digital Academy staff to bridge talent shortage in digital technologies
Safaricom has unveiled a program that will empower and train employees who are looking to shift to new digital careers.
Radwa Khairy has over a decade's worth of experience in the Human Resources, Hospitality and Travels fields. In December 2018, she founded Talents Fit, a recruitment platform servicing human resourcing and employment needs in Egypt.
Bayer creates EUR 20 million social innovation ecosystem fund to spur entrepreneurship for African smallholder farmers
The Bayer Foundation launched its new EUR 20 million Social Innovation ecosystem fund by awarding EUR 3 million to four pioneering social innovators - myAgro, Mercy Corps, Path and Living Goods.
The Mastercard Foundation has announced Young Africa Works in Ghana, an initiative that aims to enable three million young people to access dignified and fulfilling work by 2030.
UNIDO, FAO and the African Union together with numerous additional partners, have launched the Flagship Initiative to Accelerate Youth Employment in Agriculture and Agribusiness in Africa.
South African Minister for Trade and Industry, Ebrahim Patel set up a National Committee, comprising business, labour and government, to develop action plans around the new African Continental Free Trade Agreement (AfCFTA).
KEPSA and TradeMark East Africa ink $1.5 million deal to expand trade and investment for Kenyan businesses
Kenya Private Sector Alliance (KEPSA) and TradeMark East Africa (TMEA) have signed a US$ 1,500,000 financing agreement.
As the Experience Economy gathers pace, organizations will place increasing focus on engineering the best experiences not only for its customers and partners but its workforce.
South Africa alone has a youth population of 20.6 million, making up 35.7 percent of the country’s total population of about 57.7 people.
According to the World Economic Forum, 70 percent of Africa’s population is under the age of 30, signaling a significant opportunity for the growth and advancement of the continent.
UK Government launches programmes supporting Kenyans with disabilities' access employment opportunities
The British High Commissioner to Kenya, Nic Hailey, has launched two UK funded programmes that will support persons with disabilities access employment opportunities.
Averda partners with Ramco Systems to integrate processes for its employees in the Middle East and Africa
Averda partners with Ramco Systems to integrate processes of its employees in the Middle East and Africa.
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) measured 52.1 index points in July, up from 46.2 in June.
For Tanzania to generate future income and achieve sustainable development, it is essential for the country to invest in its citizens, both children and adults, according to the new World Bank economic analysis for the country.
EXIM Board Of Directors approve preliminary commitments for U.S. exports to projects in Cameroon and Iraq
The Board of Directors of the Export-Import Bank of the United States (EXIM) approved two preliminary commitments of EXIM financing support for U.S. exports to pending projects in Cameroon and Iraq.
Meskerem is a middle-aged Ethiopian woman, who runs a café and bakery with ten employees in an affluent neighbourhood of Addis Ababa, Ethiopia.
The South Africa Minister for Trade and Industry Mr Ebrahim Patel has launched Aberdare Cables R135 million High Voltage Power Cables Plant in Port Elizabeth.
Teamsters Union is warning South African institutional investors regarding the many risks facing investments in one of the world's largest transportation and warehousing companies, XPO Logistics.
IFC, a member of the World Bank Group, today announced a loan to Protea Hotels Zambia, a subsidiary of conglomerate Union Gold Zambia, to build and operate a hotel and conference center in the outskirts of Lusaka.
Sasol has reaffirmed its partnership with the Government of Mozambique to deliver on its socio-economic development strategy focusing on the creation of self-employment opportunities for locals.
Tanzania needs to undertake important and urgent investments to accelerate progress in the health and education of its citizens, especially the youth, if the country is to improve its human capital for sustainable development.
The South Africa Minister for Trade and Industry, Mr Ebrahim Patel, has welcomed the announcement by Ford South Africa that it will be creating 1 200 jobs at its Silverton Plant in Pretoria, Gauteng.
An estimated 820 million people did not have enough to eat in 2018, up from 811 million in the previous year, which is the third year of increase in a row.
Jobhouse Services Limited a company offering temporary staffing and recruitment services in Ghana has launched www.xycareers.com/ghana, a new jobs and career coaching website.
There is increasing optimism in Africa with the African Continental Free Trade Agreement (AfCFTA) gaining significant momentum and Africa being home to amongst the fastest growing economies in the world.
A partnership to further youth employment in South Africa by bringing together innovation, infrastructure and 4IR thinking has been announced between the DBSA and YES.
The World Bank approved the Comprehensive Approach to Health System Strengthening Project financed by $30 million from the International Development Association, of which $15 million as a grant and $15 million as a credit.
The World Bank Board of Executive Directors approved an International Development Association (IDA) grant of $47 million equivalent for Improving Results in Secondary Education (IRISE) project for Liberia.
IFC, a member of the World Bank Group, announced a $60 million investment in Iluka Resources’ Sierra Rutile Limited to partner with the resources company as it expands its operations in Sierra Leone.
SAP and the German Federal Ministry for Economic Cooperation and Development (BMZ) plan to jointly create 450 jobs for highly qualified personnel in the IT sector in ten African countries.