Category Archives: Mag
With Sukuk & Innovation Driving New Growth Momentum, the Prospects for Islamic Finance in Africa Look Increasingly Promising
Despite being in the early phases of development, the Islamic finance industry in Africa is fast gaining the attention of key stakeholders including central banks & regulatory authorities, as well as the leading international Islamic financial institutions and investors seeking to tap into high-growth opportunities on the continent
Nigerian Economic Recovery through Industrialization and Diversification by Public and Private Sector Synergy
The current economic crisis and recession in Nigeria has brought to the fore what is already known: that the existent Nigerian national economy is not organized for internal self-propulsion and autonomous economic and business activities. The Nigerian economy, since independence, has been operated by the maintenance of the neo-colonial system of development incapacitation, primary commodity export, dependency and poverty generation. Its basic and long-standing focus has been on the expanded production and export of primary commodities, such as agricultural products like palm oil, groundnut, cotton, cocoa, rubber in the 1960s and 1970s and subsequently crude oil since the 1970s. But as raw material export depends on external demand, it does not activate autonomous and secure economic activity. Therefore, the Nigerian economy has no internal capacity for mass production and self-propulsion. It is a large, unfree, dependent and unviable economy.
by Dr. Rafiq Raji
Two tight opinion polls on the frontrunners of the 2017 Kenyan presidential election, just weeks prior to the 8 August vote, made it clear how potentially contentious the outcome could be. For the first time since campaigns began, one poll had the leading opposition candidate, Raila Odinga of the National Super Alliance (NASA), ahead of incumbent president, Uhuru Kenyatta of the Jubilee Party. The Infotrak Harris opinion poll conducted on 16-22 July put Mr Odinga ahead of Mr Kenyatta by one point, with the former rising in popularity to 47 percent, a 3-point gain from about 2 weeks before. Mr Odinga’s improved chances stemmed from holding on to his key support base, as well as securing new supporters from what used to be the Rift Valley and North Eastern provinces (now a couple of counties), strongholds of the ruling Jubilee Party. Another poll, that by Ipsos, taken on 2-12 July, put both leading contenders at a tie at 45 percent. The Ipsos survey was probably behind the curve considering its earlier date. Judging from how the media initially under-reported Mr Odinga’s gains, the establishment was clearly shocked.
Dangote Cement (DangoteCement.com), Africa’s largest cement producer, has announced its unaudited results for the six months ended 30th June 2017, posting a 12.6 percent increase in sales volume across Africa.
To invest means to allocate money or a resource for a particular activity with the expectation of some benefit in the future. In other words, using money or resource to make more money or gain more resources. An opportunity on the other hand refers to the right time to take an action or pursue a course in view of getting the most maximum outcome. An investment opportunity is therefore the right time to allocate money or a resource so as to benefit from it in the future. Before one invests in a product or service, one must first know what and where to invest in. In other words, to be able to get returns in the future, one must invest in sectors that are thriving. In Ghana, these are “hot cake” areas that will be yielding the best returns for current investors:
As an environmental activist, I have come to appreciate that nature gives us everything. Our basis of life is dependent on nature and thus, it’s important that we see nature as our source of life rather than a resource for mere exploitation. It is this second line of thinking, which I believe has the people of Ghana troubled as the country’s vice president enters into an agreement to acquire $15 billion from China. The weariness of the citizens is very strong as the country strives to stop illegal small-scale mining which was largely driven by Chinese immigrants in Ghana.
Youth entrepreneurship, access to funding and markets remain key challenges
Rural urban migration offers an investment opportunity for the mortgage industry and financial institutions to develop a more effective way of giving clients access to owning an accommodation facility. Currently, over 40 per cent of sub-Saharan Africa population are residing in cities where there are growing housing challenges, thus, an opportunity for investment and also public-private partnerships (PPP) to curb the situation.
The hospitality and tourism is an important sector for many developing countries, since it is one of the main foreign exchange earners and key exports component. In 2016, foreign visitors to Africa reached 58 million with a spending of USD 40.7 billion approximately 36.3%, and projected to reach 42.9bn by end of 2017. These statistics by Jumia Travel’s Hospitality Report Africa, reflect the sector’s extensive significance both in terms of social and economic growth.
Boosting intra-African trade is the most effective channel for trade to deliver development on the African continent, said Mr. Karingi, adding deeper trade integration is the surest way to speed up Africa’s economic transformation
More and more South Africans are travelling – and investing in state-of-the-art branded luggage. This will pave the way for Samsonite South Africa to more than double sales within the next five years.
Tourism in Africa is a flourishing industry that supports more than 21 million jobs, or 1 in 14 jobs, on the continent
African governments should make it easier and safer for Africans to travel within the continent, the United Nations said in a new report released today, noting that tourism demand there is increasingly driven by Africans themselves.