Tag: Africa

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 […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
featured

Sub-saharan Africa risks losing $10bn in foreign investment — IMF

The International Monetary Fund has warned that if geopolitical tension persists, sub-Saharan African nations could lose $10 billion in foreign direct investments as well as market access. Nairametrics reported that according to IMF, in an essay that was released on May 1st, countries in sub-Saharan Africa would be hurt by rising import costs or would even lose access to important […]

Energy

Global renewable energy hits 9.6% increase in 2022

The total amount of renewable energy capacity worldwide reached 3372 gigawatts, representing an increase of 295 gigawatts or 9.6 per cent at the end of 2022. A noteworthy 83 percent of the entire power capacity added last year was generated by renewable sources. Renewable energy has continued to grow at a remarkable pace  indicating a […]

Google releases Android 14 Beta four
Business

Google to empower women entrepreneurs in Nigeria, others

Google has announced the launch of three empowerment initiatives women entrepreneurs in Africa in commemoration of International Women’s Day. According to The Punch, Google’s women empowerment programmes include the Google for Startups Accelerator Africa: Women Founders Cohort, the Hustle Academy for Women-Led SMEs, and a series on social media to celebrate inspiring women in Africa’s […]

Energy

World Bank funds Africa renewable energy project with $311m

Oluwanifemi Ojo   The World Bank has signed an agreement with four African countries, Chad, Liberia, Sierra Leone, and Togo, worth $311 to fund renewable energy projects. The new Regional Emergency Solar Power Intervention Project was approved by the World Bank in December 20, 2022 with the aim of accelerating grid-connected renewable energy systems. Also […]

Africa youth entrepreneurship contest produces winners
Business featured

Africa youth entrepreneurship contest produces winners

Non-profit organization dedicated to developing young people, Junior Achievement Africa, has announced the winners of its significant high school entrepreneurship competition. The 12th annual Company of the Year competition, an African high school entrepreneurship competition, was held in Nigeria under the theme “Fueling Changemakers,” according to a release from First Bank and JA Africa. According […]

Business featured

US, Africa sign MoU to foster trade

The United States Chamber of Commerce’s, Africa Business Center and the African Continental Free Trade Area Secretariat have signed a Memorandum of Understanding (MoU) today to form a working group to promote trade and investment between the United States and Africa, The MoU is also in the bid to reaffirm the private sector’s commitment to […]

News

Arab-Africa trade to boost pharmaceutical sector

  The Arab-Africa Trade Bridges Program on Friday concluded its business matching activity which was aimed at strengthening the pharmaceutical industry. The event which was hosted in Tunisia was done in partnership with the Tunisian Ministry of Economy and Planning. According to the Chief Executive Officer of ITFC and Secretary General of AATB, Eng. Hani […]