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Gender parity will unlock $287 billion for Africa’s economy by 2030, report
Conducted in collaboration with McKinsey & Company, the study reinforces the crucial role of women’s economic empowerment in driving the continent into a new era of transformational growth.
[Open Webinar, Sept 26, 2024] Driving Success: Enterprise Strategy and Financial Leadership for Growth
UK-based global financial technology firm, VertoFX, and American consumer credit reporting agency, TransUnion, are together organizing a fascinating free-to-join webinar themed 'Driving Success: Enterprise Strategy and Financial Leadership for Growth'.
Coca-Cola is the world’s most valuable non-alcoholic drinks brand, report
The brand’s memorable marketing campaigns, such as its 2023 Christmas advertisement, "The World Needs More Santas," have further reinforced its emotional connection with consumers.
Buy now pay later gross merchandise value to reach $19.5 billion by 2029, report
The report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories.
African Water Facility secures €12 Million to invest in urban sanitation in Africa
The Nordic Development Fund announced the funding during a panel session on investing in Africa’s water sector, which it hosted in tandem with the African Union’s African Water Investment Program.
Ireland commits €2.4 million to enhance trade and economic growth in Tanzania
The three-year agreement is designed to drive substantial improvements in Tanzania’s trade infrastructure, reduce trade barriers, and enhance business competitiveness.
World Bank Group launches High Level Council to tackle looming jobs crisis
Over the next 10 years, an unprecedented 1.2 billion young people in the Global South will become working age adults.
[Column] Tobias Alando: Why price controls are detrimental to economic growth
There is a renewed interest in the country in an idea that many economists and investors thought Kenya had left behind a long time ago: price controls.
[South Africa] IFC invests in the City of Cape Town to boost infrastructure and inclusive economic growth
IFC has announced an investment in the City of Cape Town Metropolitan Municipality's infrastructure investment program to improve access to quality basic services for its population, especially low-income households, and to scale up infrastructure to foster inclusive economic growth.
Global market for digital insurance platform to reach $259.3 billion by 2030, report
The growth in the digital insurance platform market is driven by several factors, including technological advancements, regulatory changes, and evolving consumer expectations.
COMESA and European Union launch €40 million regional circular economy programme
The initiative focuses on the inclusive transition from a linear to a circular economy, while promoting sustainable business models, impact investments and creating jobs for the future.
Global logistics sector shows signs of normalization after post-pandemic boom, report
Leading logistics brands such as UPS and FedEx have both reported lower shipment volumes and reduced consumer spending compared to the high-demand periods immediately following the pandemic.
ICAO signs new deals with African states to boost sustainable aviation development
The International Civil Aviation Organization (ICAO) made a significant step forward in enhancing aviation's role as a catalyst for sustainable development in Africa.
MultiChoice Talent Factory targets African storytellers with funded training programme
MultiChoice Talent Factory has announced that it’s once again calling upon all aspiring filmmakers, scriptwriters, producers, and storytellers to apply for entry into the 2025 fully funded academic year.
[Column] Benard Onyango: Navigating the true cost of homeownership in different markets across Africa
Owning a home is something that the world's families deeply aspire towards. To many Africans, however, that dream is rich with challenges and opportunities unique to the continent but varying from country to country.
Open Startup launches second cohort of Grow programme to help African startups reach $1 million funding goals
Building on the success of last year's cohort, which accompanied 13 startups selected from over 600 applications, the GROW program continues its mission to support African startups in their growth journey.
SanlamAllianz announces merger and brand launch in Ghana
Sanlam and Allianz today announced the launch of their joint venture brand, SanlamAllianz, in Ghana. This follows the regulatory approvals the Sanlam and Allianz businesses in Ghana obtained recently to merge and rebrand to SanlamAllianz.
[Column] Philip Myburgh: Maximising the AGOA opportunity
AGOA grants qualifying sub-Saharan African nations duty-free access to the US market for more than 1,800 products.
Google and DHL collaborate on sustainable worldwide shipping
DHL and Google, one of the largest technology companies in the world, have announced a partnership to utilize the DHL Express GoGreen Plus service with Sustainable Aviation Fuel (SAF).
IFC, Proparco and Helios plan partnership to support Africa’s sports and entertainment sectors
A partnership with Helios Sports and Entertainment would offer an opportunity for IFC and Proparco to jointly address a long history of limited financing in Africa's creative sectors, including sports and entertainment, and catalyze private sector development in the region.
Small business growth to unlock Africa’s potential
More needs to be done to stimulate the growth of SMMEs, as well as boost intra-African trade, to unlock the continent’s huge potential.
Mastercard and Global Hotel Alliance sign multimarket agreement to boost luxury travel
The collaboration will be tailored to the unique needs of affluent cardholders – offering a vast choice of accommodation arrangements and exciting rewards.
[Column] Sameer Kumandan: Putting lenders in the driver's seat for better vehicle finance
Facilitating access to vehicle financing for legitimate customers is a pivotal responsibility for businesses.
Global advertising revenue to hit $1 trillion in 2026, PWC Outlook
The outlook, which covers 11 revenue segments across 53 countries and territories, finds that global E&M revenues are projected to hit $3.4 trillion in 2028, growing at a 3.9% compound annual growth rate (CAGR).
Milken Institute scales up engagement with Africa through new business council
Leaders on this council will lend their expertise and provide a high-level overview of Africa’s evolving business landscape for Milken Institute’s wide-ranging network and stakeholders who wish to amplify their engagement in the region.
[Column] Mohammed Rashwan: International responsibility for reparation for environmental damage in Africa
Although the African continent is the least contributor to the phenomenon of heat warming, accounting for less than 4% of global emissions it is the worst affected by the effects of this phenomenon.
NETA Auto launches first African flagship showroom in Kenya
NETA Auto, a Chinese electric car brand of Hozon Auto, has opened its first African flagship store in Kenya.
[Column] Victoria Sabula: Sudan's crisis calls for humanitarian aid and economic revival
While humanitarian aid is essential to alleviate the immediate pain, an approach that prioritizes economic revitalization is crucial for the long-term well-being of the people of Sudan.
Ten African startups selected to receive funding to develop blue and green economy solutions
Through a fellowship program, the Waves supported founders in creating solutions that promote sustainable livelihoods, the use of ocean and freshwater resources, and the restoration and regeneration of landscapes.
Lagos Business School and CityBlue Hotels partner to drive growth in the hospitality industry in Africa
The Academic Director of LBS Hospitality Initiative, Dr Belinda Nwosu FIH, stated that the Initiative is a platform for developing and growing the hospitality industry in Nigeria and Africa, anchored on four main pillars – Advisory, Engagement, Research, and Capacity Building.
Finland signs funding deal with TradeMark Africa to enhance trade in Africa
The funding will support projects aligned with TMA’s third strategic plan (2023 – 2030) which will advance inclusive, clean, and digital trade in Africa.
IATA launches advanced analytics solution to optimize airline fuel consumption
The International Air Transport Association (IATA) announced the launch of IATA FuelIS, an advanced analytics solution to optimize airline fuel consumption, using aggregated and anonymized flight and fuel data.
Engineering firm Pini Group expands operations into Africa
Pini Group has had a longstanding interest in Africa and has recently participated in several significant projects in Senegal, Mozambique, and Tanzania.
Africa Business Communities seeks columnists in Egypt and Dubai
We are keen on contributors with originality, creativity, versatility and an eye for interesting trends across the sectors that we cover including banking and finance, tech, energy, agribusiness and trade.
Africa Business Communities launches operations in the Middle East
The company supports doing business in Africa through marketing and communication services, custom media productions and market research and has the largest LinkedIn community in Africa with over 1.2 million followers.
Kotler Impact presents the Essentials of Modern Marketing, Nigeria Edition 2024
This is the world's first marketing book around market-specific stories from Nigeria, to be published in November 2024 on Amazon and launched in Lagos.
L'Oréal is the world’s most valuable cosmetics brand, report
The iconic French brand continues to outshine its competitors, boasting a brand value approximately 80% higher than its closest rival.
Corporate communications agency LCH Consultancy appoints Evelyne Wangui as Director of media relations
As Director of Content and Media Relations, she will be pivotal in strengthening strategic services across the African region.
Pan-African legal firm Centurion Law Group rebrands as CLG
The rebrand aligns closely with the firm’s mission to consolidate its position as the leading legal practice and business advisor in an ever-evolving energy environment.
MENA region leads global growth in luxury travel, report
The appetite for new experiences in unexplored destinations, micro-trips and ‘bleisure’ will likely drive the growth of the global luxury travel market
Zambia develops and validates blue economy strategy
The strategy will guide the nation in advancing knowledge on biotechnology, environmental sustainability and ecosystem services.
African Union and Google Africa launch campaign to celebrate the creative economy
In celebration of Africa Month,YouTube creators across Africa are invited to share short videos capturing their unique perspectives using the #DiscoverMyAfrica hashtag.
EIB’s Water Sector Fund invests €10 million to support innovative businesses in Africa and Asia
W2AF is a “water-focused” blended finance impact fund targeting sustainable and scalable solutions that improve access to safe, affordable drinking water for underserved populations, mainly in Sub-Saharan Africa and South and Southeast Asia.
[Zoom Event, April 11 2024] Global Strategies for Success in Africa: Overcoming FX and Payment Hurdles
This event explores the vast potential and unique challenges of expanding businesses in Africa, focusing on mastering international pitches, understanding cultural nuances, and crafting pitches that highlight unique value propositions.
Mastercard and Women Choice expand partnership to invest in women entrepreneurs
Women Choice - an international organization dedicated to advancing women's personal and professional development - launched the pilot cohort in 2023.The next cohorts will be participating in the new programs this year and will aim to impact 50,000 women.
Unilever accelerates Growth Action Plan by launching productivity programme
Unilever has announced steps to accelerate its Growth Action Plan (GAP) through the separation of Ice Cream and the launch of a major productivity programme.
Nissan Africa announces regional appointments
Jordi Vila, currently Nissan Divisional Vice President Marketing and Sales Europe has been appointed as President Nissan Africa, as DVP.
Mark-Anthony Johnson: Is Africa splitting in two?
Mark-Anthony Johnson: Is Africa splitting in two?
Africa’s vibrant and sustainable creations
In many African communities, creativity knows no bounds. A unique and fascinating trend has emerged, where individuals repurpose flip-flops into remarkable crafts.
Nissan Navara to fly the flag up through Africa in daring expedition
Dubbed Nissan Daring Africa 2024, the expedition will visit Mozambique, Zimbabwe, Zambia, Malawi, Tanzania and Kenya before ending in Egypt.
[Webinar] Complimentary expert session for Telecom leaders and Startups in Africa, March 21
Designed for telecom leaders and startups, thia event offers invaluable strategies for expanding services, managing FX risks, enhancing cross-border payments, and establishing credibility in the international arena.
Xsolla unveils new payment methods for gamers in Africa
This move addresses the unique financial landscape of Africa, where a significant portion of the population, particularly in regions like Ghana and Uganda, remains unbanked.
[Column] Hassan Egeh: Somalia's battle with climate change effect
Climate change has significant effects on Somalia, impacting various aspects of the country. Droughts and water scarcity have become more severe, leading to a loss of vegetation and livestock deaths. This has resulted in food insecurity, with crop failures and reduced agricultural productivity.
Southern African tourism stakeholders to get new regional disaster risk management and crisis communication plan
The SADC Business Council Tourism Alliance has concluded the successful completion of a pilot project on tourism disaster risk management and crisis communication for the Southern African Development Community (SADC) region.
IATA announces first signatories to Air Cargo Digitalization Leadership Charter
The Digitalization Leadership Charter aims to accelerate the air cargo industry’s digitalization journey by committing to five key guiding principles.
Village Capital unveils programme targeting African startups focused on greentech
The programme is designed to advance innovative and sustainable solutions, actively contributing towards building resilience and mitigating the effects of climate change across Africa.
AFC Joins Ecobank and Soto Gallery to Host +234Art International Art Exhibition to empower African artists
AFC has joined forces with Ecobank Nigeria and Soto Gallery to host the +234Art Fair, a 10-day international exhibition intended as a springboard to promote Africa’s art and its artists.
[Column] Farai Bayai Ncube: Bridging gender gaps in Africa’s creative sectors
The Creative DNA programme, initially successful in Kenya with three completed cohorts, has expanded to Ethiopia, Senegal, and Uganda, and plans to launch in more sub-Saharan African countries.
IATA partners with Smart Freight Centre on carbon emission calculations
The two organizations will focus efforts on developing the cargo component of IATA’s CO2 Connect offering, which successfully launched its passenger version in 2022.
DP World launches global freight forwarding network
In response to increasing disruptions to global trade – from climate change, geopolitics and macroeconomic challenges – DP World has embarked on a bold initiative to bolster its commitment to its customers.
Zambia validates blue economy strategy
The strategy will guide the nation in advancing knowledge on biotechnology, environmental sustainability and ecosystem services.
IBM commits $45 million towards resilient cities
IBM also announced that it would increase investment in the pro-bono social impact program by 50%.
Global HR company Deel to acquire African payroll firm PaySpace
Global HR company Deel has announced that it is acquiring African-based payroll and HR solution company PaySpace for an undisclosed amount. It is one of Deel’s largest acquisitions to date.
Aviation experts push for a Model Bilateral Air Services Agreement
Aviation officials from the Eastern Africa-Southern Africa and Indian Ocean region are making steady progress in reviewing and having a model Bilateral Air Services Agreement (BASA) that conforms with the provisions of the Yamoussoukro Decision of 1999.
IATA and The Weather Company to provide enhanced turbulence-related weather data to airlines
With this enhancement, participating airlines will soon be able to access Eddy Dissipation Rate (EDR) turbulence data directly through Fusion and Pilotbrief tools by The Weather Company.
Lilium Group and Didier Drogba Foundation are now co-owners of Team Drogba in the E1 World Championship
Lilium Group, the parent company of Vista Group the African financial services group, and the Didier Drogba Foundation announce that they are co-owners of Team Drogba in the E1 World Championship.
DFC reaffirms commitment to scaling investment in African infrastructure and critical minerals
Deputy Chief Executive Officer (DCEO) Nisha Biswal traveled to South Africa and Zambia as part of the largest U.S. government delegation to Mining Indaba and the first Lobito Corridor Investors Forum and to deepen DFC’s investments on the continent.
[FINTECH EVENT] Verto Atlas Product Launch, Lagos Continental Hotel, 29 February
Verto extends this invite to an exclusive, fireside gathering at the prestigious Intercontinental Hotel Lagos, as it unveils Verto Atlas, the financial powerhouse for large corporations and enterprises in Nigeria.
TradeMark Africa partners with global organizations to boost international trade
With TMA funding of $4 million, IOTA developed TLIP, a system built on the distributed ledger technology providing a transparent and secure electronic exchange of trade information in international supply chains.
Uber is the world's most valuable mobility brand, study
Uber remains the world's most valuable mobility brand, with a 28% increase in brand value to $29.7 billion, according to the latest report by Brand Finance, the global brand valuation consultancy.
2024 Dubai WoodShow to feature seven country pavilions
Dubai International Wood and Woodworking Machinery Exhibition (Dubai WoodShow), is poised for its landmark 20th edition, scheduled from March 5 to 7, 2024, at the Dubai World Trade Centre.
African healthtech shows resilience with mere 2% decline in funding while broader tech ecosystem plunges in 2023, report
Healthcare consulting firm Salient Advisory has launched its latest Intelligence Report, presenting findings on funding activity, covering grant, equity, and debt investments for African healthtech startups in 2023
Digital commerce in Africa to expand 25% per year by 2026, report
Africa has emerged as a frontier for the new online consumer class, representing an estimated 10 million new consumers in 2024 and trailing only Asia as a region. This is according to the new annual Beyond Borders digital payments and commerce report by EBANX
TradeMark Africa receives $63 million from Netherlands to advance sustainable trade
This strategic investment will fuel TradeMark Africa’s Strategy 3, covering the period till 2030, aimed at driving green, sustainable economic growth, fostering innovative trade practices, and promoting inclusive trade across Africa.
[Column] Anthony Mwangi: Export-led growth the cure to Kenya’s currency devaluation
The Kenya Association of Manufacturers (KAM) firmly believes that embracing an export-led growth strategy holds the potential to reverse the situation and mitigate against the free fall of the local currency.
[Open Webinar, Feb 1 2024] Cross-Border Finances: Enhancing Commodity Trade Across Africa
Tailored for CFOs, this event provides strategic knowledge to navigate international markets and enhance financial outcomes in the dynamic commodities sector. Don't miss this unique opportunity for CFOs to stay ahead in global commodity trading.
World Bank approves $300m loan for Ghana’s economy
The World Bank today approved a $300 million Development Policy Operation for economic relief in Ghana.
East African region leads the rest of Africa in economic growth, report
In 2024, Africa's overall growth is forecasted at 4.0%, a notable increase from 3.3% in 2023, positioning it as the second-highest globally, trailing only Asia (4.8%).
United Manganese of Kalahari (UMK) has announced reduction in manganese production
United Manganese of Kalahari (UMK) announced that, in response to the worsening market conditions, it will reduce the production of manganese ore and concomitant to that, the sale of its ore products, for the time being.
[Free Webinar] Accelerating FX Success: Expansion Strategies for Marketing Agencies in Eastern, Western Africa
This event is tailored for marketing executives and CFOs looking to gain actionable insights into international expansion, building a global clientele and establishing strong online presence.
[Free Webinar] Accelerating FX Success: Expansion Strategies for Marketing Agencies in Eastern, Western Africa
This event is tailored for marketing executives and CFOs looking to gain actionable insights into international expansion, building a global clientele and establishing strong online presence.
[Column] Hassan Egeh: What does it mean for Somalia to join East Africa Communities (EAC)?
Somalia was admitted into the East African Community (EAC) on Friday Novermber24, 2023 the eighth member of the bloc as it seeks to expand free trade across the region.
[Free Webinar] Unlocking Success in New Markets: Cross-Border Payments Strategies for South African Businesses
Embark on a journey through the dynamic realm of international finance with our upcoming webinar, where we unravel the intricacies of global payment strategies essential for triumph in the finance sector.
Western Australia to host 24th WTTC Global Summit after Kigali
During the closing session of the World Travel & Tourism Council’s (WTTC) Global Summit in Kigali, Western Australia was announced as the host for 2024, marking the first time the event will visit Oceania.
Kenyan consumers remain optimistic, but financial worries weigh heavy, report
According to TransUnion’s Consumer Pulse Study, one of the significant factors contributing to the decrease in household income was job loss, with 30% of consumers reporting that someone in their household lost their job over the past month.
Antwerp and Botswana to gather diamond industry in Gaborone for FACETS 2023
The two-day Conference was officially opened by the President of the Republic of Botswana, His Excellency Dr. Mokgweetsi Keabetswe Masisi.
Africa's total exports expected to hit close to $1 trillion by 2035, report
Standard Chartered has published its Future of Trade: Africa report, highlighting the outlook for African trade and providing a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade.
[Column] Anthony Mwangi: Functioning ORGWARE a panacea for Kenya economic transformation
The term describes the framework conditions for Information Technology (IT) projects that are neither part of the hardware nor software but are necessary to achieve the project goals.
[Free Webinar] Global Payment Strategies for Shipping & Logistics: Empowering Seamless Trade
In the rapidly evolving landscape of shipping and logistics, effective cross-border payment strategies have emerged as a critical driver of success. Join this insightful webinar that delves into the world of global payment strategies.
[Column] Vera Ng’oma: Propelling TEVET as Africa is set to be the world capital for young talent
Africa could seize this opportunity as it pursues a re-envisioning of its economic prospects. But this aspiration can only be attainable if education systems are revitalised, skills development philosophies re-set and job markets scaled to support the demographic boom.
[Column] Patrick Mweheire: Major investment drive sparks East African trade and development
East Africa is poised to unlock new pathways for trade, development and growth.
Africa Climate Summit 2023 concluded with Nairobi Declaration
At the closing of Africa Climate Summit 2023, African leaders announced $23 billion Nairobi declaration target for green growth in Africa.
[Column] Marlene Mutimawase: Promoting women's leadership for land restoration in Africa
African Union in partnership with the Government of Kenya and Africa Climate Summit brings together leaders from governments, businesses, international organizations, and civil society to showcase a diverse range of bold innovative climate actions taking place across Africa.
[Column] Thandi Moticoe: Driving change through economic empowerment of South African women
One of the keys to overcoming the challenges faced by women is economic empowerment. By providing women with skills training, microfinancing, and entrepreneurial support, we are helping women break free from the shackles of dependence and vulnerability.
AFRAA joins initiative enhancing aviation's economic contribution to Africa
Focus Africa aims to maximize the contribution of aviation to development across the African Continent by better serving passengers and shippers.
[Chronique]Frida Frans: L'impact des coups d'État sur les accords de commerce et la stabilité économique en Afrique de l'Ouest
La récente série de coups d'État en Afrique de l'Ouest a entraîné des bouleversements politiques dans la région. Ces coups d'État survenus au Mali, en Guinée, au Burkina Faso et au Niger se caractérisent par des changements soudains et souvent violents à la tête du pays.
Radisson Hotel to introduce its eighth hotel in Morocco with the opening of Radisson Blu Residences, Saidia
Radisson Hotel Group is expanding its presence in Morocco with the opening of Radisson Blu Residences, Saidia, its eighth hotel in the country. Nestled in the heart of one of the most popular seaside destinations in northern Morocco, the new hotel bolsters the Group’s portfolio to three hotels in Saidia.
[Column] Frida Frans: The impact of Coup d’état on trade agreements and economic stability in West Africa
The recent series of coup d'état incidents in West Africa has resulted in significant political upheaval across the region. These prominent coups occurrences in Mali, Guinea, Burkina Faso, Niger are characterized by sudden and often forceful changes in leadership.
Nigeria, Ethiopia swap $100m blocked airline funds
The Ethiopian and Nigerian central banks have agreed to swap funds trapped in their respective states, which will see Ethiopian Airlines (ET) recover up to $100 million trapped in Nigeria.
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COLUMNS.
[Column] Louis Avenant: Trends for African telcos in 2024
Africa’s vibrant telco sector is set for a bumper year in 2024 as it expands operations and broadens service offerings ...read full column here
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[Column] Virodh Sunderlall: What to expect from South Africa’s cybersecurity landscape in 2024
As widely reported last year, South Africa received the most cybersecurity threats on the continent by far ...read full column here
[Column] Stephen Bottger: The power of data analytics to revolutionise public safety
The use of applications, technology and data analytics can play a significant role in public safety globally ...read full column here
INTERVIEWS.
[Interview] Chester Wisniewski, Director of Global Field CTO, Sophos
Chester Wisniewski, the Director of Global Field CTO at Sophos, emphasizes several key trends and predictions for the cybersecurity realm in the coming year … read full interview here
[Interview]: Daniel Otu, Koa’s Production and Operations Director & the factory project lead
Daniel Otu, Koa’s Production and Operations Director & the factory project lead, touched on the challenges faced, the importance of sustainability, the role of local culture, and the lessons that shaped Koa’s future vision … read full interview here
[Interview] Oluwole Eweje, CEO-WATT Renewables Corporation
We provide sustainability for communities, especially communities that have very few businesses … read full interview here