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Tag: Africa

Sony to invest $10m in African entertainment startups
News Tech

Sony to invest $10m in African entertainment startups

The Sony Group on Wednesday announced the launch of Sony Innovation Fund: Africa (SIF: AF), a programme that will aid the expansion of entertainment companies in Africa. Tokyo multinational conglomerate Sony Ventures Corporation (SVC) has set aside $10 million for early-stage entrepreneurs in the gaming, music, film, and content distribution industries. This fund targeted at […]

Aviation ministry gets N40bn approval for NAVAID upgrade
Aviation

Africa faces growing demand for 54,000 aviation professionals by 2042- Expert

Nigeria and other African nations will need at least 54,000 technical workers in a variety of aviation-related sectors by 2042. According to The Times, it was also predicted that in the next 20 years, Nigeria’s air transport sector will grow by at least 5% yearly. During the current 7th Aviation Summit taking place in Abuja, the Marketing Director, Airbus, […]

Twiga fires 283 employees, cites tough business environment
News Tech

Twiga fires 283 employees, cites tough business environment

African e-commerce food distribution company, Twiga will reduce one-third of its 850 staff as the company undergoes operational restructuring as a result of challenging market conditions. Twiga has been “on a transformative path in the last few months to become a lean, agile, cost-efficient organisation,” according to the company’s CEO, Peter Njonjo, who spoke with […]

UN, Lagos urge private sector to drive change in Africa
Business

UN, Lagos urge private sector to drive change in Africa

The United Nations and Lagos state have challenged the private sector to promote transformation in Africa. The Punch reported that they gave speeches during the Africa Social Impact Summit 2023, which took place in Lagos on Thursday and had as its topic “Global vision, local action: Repositioning the African development ecosystem for sustainable outcomes.” The […]

Top Russian companies, partners to visit Africa
featured

Top Russian companies, partners to visit Africa

Major Russian business organizations and Eurasian Economic Union members are planning business trips to several African countries. The Ounch reported that the Russian Export Centre, Roscongress Foundation, State Development Corporation VEB.RF, RosGeo, and the Russian Union of Industrialists and Entrepreneurs are a few of the organizations anticipated to take part in the mission. Others include the Eurasian […]

UN, Lagos urge private sector to drive change in Africa
News

UN to help Africa with credit rating data

The United Nations Development Programme claims that in order to reduce borrowing costs in Africa, it will concentrate on increasing the openness of the credit rating systems. According to The News Agency of Nigeria, this was said in a webinar by  Chief Economist, UNDP, Africa Bureau, Dr. Raymond Gilpin, in his remarks made on Friday at […]

US, Africa partner to strengthen trade
Business

US, Africa partner to strengthen trade

The US-African Business Summit, which drew more than 1300 participants and took place in mid-July in Gaborone, Botswana, has focused mainly on developing measures to improve trade and economic ties between the two continents. The mid-July summit was organized by the Corporate Council on Africa as a follow-up to the December 2022 US-African Leaders Summit in […]

Bitcoin falls below $100,000 in crypto market
Crypto

Crypto-Nigeria makes up 67% of Africa’s interest – Report

In comparison to other African nations, Nigeria has shown the greatest interest in digital currencies like Bitcoin and Ethereum, according to a study published by price monitoring firm CoinGecko. According to data collected so far this year, the most populated country in Africa is responsible for 66.8% of the continent’s cryptocurrency interest  Prior to now, Nigeria […]

Arab-African trade invests $1.5bn to tackle food security
Business

Arab-African trade invests $1.5bn to tackle food security

The Executive Committee of the multi-donor, interregional Arab-Africa Trade Bridges Programme on Thursday unveiled a US$1.5 billion food security program to address the concerns of food insecurity in the Arab and African regions. According to BusinessDay, the crisis continues to be a major priority on the international development agenda and is one of the biggest […]

Russia and Africa
Business

Russia-Africa business synergy gains momentum – Report

Through the staging of bilateral and multilateral business conferences on both continents, there are signs that economic relations between Russia and Africa are advancing. Vanguard reported that earlier this month, the “Geopolitical transformation: challenges and opportunities for business” conference between Moscow and Algeria was held in Algiers, where the presentation of the second summit, Russia-Africa […]

Uncategorized

Africa’s growth rate to hit 3.4% in 2023 – UN

The United Nations reported that global growth in 2023 is likely to hit 3.4%, which is less severe than originally anticipated because of resilient household spending in rich nations and China’s economic recovery. Nairametrics reported that they announced that the global growth prediction has been revised upward by 0.4 percentage points from the January forecast. […]

Economy

Why Africa must decrease intra-African, global trade costs – Okonjo Iweala

President of the World Trade Organization, Dr. Ngozi Okonjo Iweala, has stated that in order for Africa to successfully implement the African Continental Free Trade Area, we must lower the costs associated with doing business both within the continent and with the rest of the world. Nairametrics reported that she emphasized that some tariffs and obstacles result […]

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