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Tag: Africa

News

Africa loses $12.7bn yearly to infrastructure disasters — Report

Africa suffers an average of $12.7 billion in annual infrastructure losses from natural disasters, according to a new report by the Coalition for Disaster Resilient Infrastructure. The study, released Monday, shows that floods account for about 70 per cent of the damage, while earthquakes — less frequent but often more devastating — make up about […]

Top 10 most-improved visa-friendly African countries
News

Top 10 most-improved visa-friendly African countries

Traveling between African countries is becoming increasingly accessible, thanks to growing trends in visa policy reforms across the continent. A recent report, “Africa Visa Openness Index,” from 2016 to 2024 shows that 39 African countries have improved their visa rankings, signaling a positive shift towards easier travel across the continent. The increase in visa scores […]

Osimhen, Fireboy, Veekee James others make Forbes 30 Under 30
News

Osimhen, Fireboy, Veekee James others make Forbes 30 Under 30

Five Nigerians have been recognized by Forbes Magazine in its 30 Under 30 Africa Class of 2024, for shaping the continent’s future and leaving an indelible mark on the global stage. This vibrant group of visionaries spans diverse fields, from entertainment to sports, demonstrating innovation, inclusive growth, and a redefinition of Africa’s narrative. As the […]

World

Africa’s exports to grow by 5.3% in 2024 – WTO

World Trade Organization declared that exported goods from Africa are projected to grow by 5.3% on an annual basis in comparison with the rest of the world, according to the World Trade Organization’s trade outlook for 2024. According to the report, exports on the continent will be higher than they were before the onset of […]

News

AGOA boost: Kenya receives $55m for apparel expansion

The African Growth and Opportunity Act, which has significantly contributed to enhancing trade and investment in sub-Saharan Africa with the United States of America, provides for duty and quota free access to American markets. Many qualifying African countries have achieved notable successes in exporting goods under AGOA to the US. These successes include textiles and […]

Energy

China to drive Africa’s renewable energy revolution – Report

China has an extraordinary opportunity for an energy revolution in Africa, but first, it must overcome almost two decades of neglect regarding investment in green power there, research from Boston University showed on Tuesday. Since the beginning of the century, Beijing has emerged as the largest bilateral trade partner on the African continent and financed […]

The Economic Commission for Africa predicts that African countries will dominate the world's top 10 fastest-growing economies in 2024 and 2025.
News

African countries to dominate global economy in 2024, 2025- Report

The Economic Commission for Africa predicts that African countries will dominate the world’s top 10 fastest-growing economies in 2024 and 2025. In 2024, key economies driving growth in Africa will include Niger, Senegal, Ivory Coast, the Democratic Republic of the Congo, and Rwanda. Adam Elhiraika, Director of the Macroeconomics and Governance Division at ECA, highlighted […]

AfDB, ECOWAS sign $12m agreement to boost Rice production
Banking

Africa imports 80% of medicines, says AfDB

By Melvin Onwubuke   The President of the African Development Bank, Akinwumi Adesina has said that Africa imports between 70 per cent and 80 per cent of its medicines. Adesina stated this on Wednesday in Lagos while being honoured with the Obafemi Awolowo Prize for Leadership, according to The Punch. Africa is losing $2.6 trillion […]

Flow Financial launches in Africa, begins hiring in Nigeria
Economy

Flow Financial launches in Africa, begins hiring in Nigeria

Floww Financial today announced its successful debut into the African cryptocurrency sector with the commencement of its Nigeria operations. According to Nairametrics, Floww Financial is an authorized cryptocurrency exchange company with operations in Australia, the UK, and the EU. The business currently provides fiat-to-crypto and crypto-to-fiat services on well-known exchanges, such as Binance, where it […]

African economic growth slumps to 3.2% in 2023
Business

African economic growth slumps to 3.2% in 2023

Melvin Onwubuke Nigeria and other African nation’s economic growth fell to 3.2 per cent 2023 contrary to 4.1 per cent in 2022. According to Africa Development Bank, the political instability, and China’s economic slowdown were exacerbating the shocks of covid 19 and the war of Russia in Ukraine. In the statement, the bank said “The […]

2023 AFCON: CAF to hit $75m estimated revenue
News

2023 AFCON: CAF to hit $75m estimated revenue

This edition of AFCON lived up to expectations, fulfilling CAF President Patrice Motsepe’s optimism expressed during the opening ceremony that it would be the best so far. At the Stade Alassane Ouattara Stadium in Abidjan last Sunday, mixed emotions filled the air as the Elephants of Cote d’Ivoire clinched the AFCON 2023 trophy with a […]

$20bn spent yearly by African countries on wheat import - TAAT
Business

$20bn spent yearly by African countries on wheat import – TAAT

The Head of the Technologies for African Agricultural Transformation Clearinghouse, Dr. Solomon Gizaw, has stated that Africa spends about $20 billion a year on wheat imports. According to The Times, he made this statement at a Train-the-Trainer course on wheat seed production in Kano. He claimed that supply delays and higher wheat prices in Africa have resulted […]

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