Author Archives: Africa Business

IMF Executive Board Approves US$ 163.9 Million Arrangement Under the Extended Credit Facility for the Islamic Republic of Mauritania

  • Board decision enables immediate disbursement of US$ 23.4 million to Mauritania.
  • Mauritania’s ECF-supported program aims to address the challenges of economic growth, stability, sustainability, and poverty.
  • Reforms will seek to create fiscal space for social spending and infrastructure through revenue mobilization and expenditure prioritization, as well as to modernize the monetary policy framework and maintain financial stability.

On December 6, 2017, the Executive Board of the International Monetary Fund (IMF) approved a three-year arrangement under the Extended Credit Facility (ECF) with Mauritania for SDR 115.92 million (about US$ 163.9 million, or 90 percent of Mauritania’s quota) to support the country’s economic and financial reform program. read more

Posted in African News, Mauritania | Tagged , | Comments Off on IMF Executive Board Approves US$ 163.9 Million Arrangement Under the Extended Credit Facility for the Islamic Republic of Mauritania

WorldRemit raises $40m to target 5 million customers in Africa

Series C funding round brings the total amount raised to $220m read more

Posted in ICT | Tagged , | Comments Off on WorldRemit raises $40m to target 5 million customers in Africa

Libya’s slave trade shocks AU-EU leaders into action

Images of a slave auction led to urgent meetings and an emergency plan during the recent Africa-Europe summit read more

Posted in African News, Libya News | Tagged , , | Comments Off on Libya’s slave trade shocks AU-EU leaders into action

Namibia to host infrastructure development in Africa week

All is set for the 2017 Programme for Infrastructure Development in Africa (PIDA) Week which takes place from 10 to 14 December in Swakopmund, Namibia, on the theme, “Regional infrastructure development for job creation and economic transformation.” read more

Posted in Events, Namibia News | Tagged , , , | Comments Off on Namibia to host infrastructure development in Africa week

Active or Passive? Asset allocation strategies that investors need to consider

The saying “don’t put your eggs in one basket” should be every investor’s mantra. Anyone who has felt the pain of investing in a single stock or sector just before it crashed knows the danger of ignoring this advice all too well. read more

Posted in Main, South Africa News | Tagged , , | Comments Off on Active or Passive? Asset allocation strategies that investors need to consider

Can cryptocurrencies reduce global poverty?

Behavioral economics guru, Richard Thaler — this year’s Nobel Prize laureate in economics— has showcased that people are economically imperfect. Since humans are irrational we don’t fit neatly into economic models; we have cognitive limitations, social preferences, or, dare it be said, big problems with self-control. read more

Posted in ICT, South Africa News | Tagged | Comments Off on Can cryptocurrencies reduce global poverty?

Reforming and revitalizing higher education sector crucial for Africa’s development, experts say

The fourth Senior Experts Dialogue on Science, Technology and the African Transformation Agenda ended in Dakar Friday with experts making concrete recommendations for consideration by policy makers, universities, regional and continental organizations on how to align higher education policy with science, technology and innovation (STI) and industrial policies to support the transformation of Africa’s economies in line with the continent’s integration and development agenda. read more

Posted in African News, Main, Nigeria News, Rwanda News, Science, Senegal News | Tagged , , | Comments Off on Reforming and revitalizing higher education sector crucial for Africa’s development, experts say

Multiplatform apps to drive customer-centric development in 2018

Near native performance will become a reality in 2018 thanks to ongoing improvement of development tools for multiplatform applications.  This is according to Cassie Lessing, CEO, Strato IT Group, a business application specialist, who says that the intent of multiplatform apps is to provide users with a similar experience irrespective of the device they use: “There is still some work to be done in this respect, but we can expect the gap to be closed completely within the next few years as multiplatform overtakes native mobile app development in the race to win the customer.” read more

Posted in ICT | Tagged | Comments Off on Multiplatform apps to drive customer-centric development in 2018

Bitcoins Headed to Wall Street Despite Regulators Being Ready or Not

Two U.S exchanges compete to embrace bitcoins forcing federal regulators into real skeptics. Prominent financial players are taking advantage to adopt the volatile crypto-currency and invite more investors in the market without regulators agreeing on what bitcoins should be. read more

Posted in ICT | Tagged , , | Comments Off on Bitcoins Headed to Wall Street Despite Regulators Being Ready or Not

Africa needs to fix its energy problems to accelerate and sustain growth, says ECA’s Songwe

Over 600 million people currently do not have access to energy in Africa, a situation the ECA Chief says cannot be allowed to continue read more

Posted in Energy, Ethiopia News | Tagged , | Comments Off on Africa needs to fix its energy problems to accelerate and sustain growth, says ECA’s Songwe