African News Archives - Page 11 of 46

Vertis Aviation adds Africa-based Challenger 604 to portfolio

14Mar

By Africa BusinessNo Comments

Vertis Aviation adds Africa-based Challenger 604 to portfolio

Switzerland-based Vertis Aviation, is expanding its footprint in Africa with the addition of a Bombardier Challenger 604 to the Vertis Charter Management Programme, VCMP. This is the second aircraft to sign up to the VCMP in as many months and represents the first Challenger 604 that the Argus Certified Broker will exclusively market for charter. Based in Accra, Ghana the Challenger 604 seats up to 11 passengers, and also welcomes small pets when in a travel carrier. Equipped with Wi-Fi connectivity, a full galley, divan and club seating the spacious cabin provides a productive and comfortable environment. Vertis anticipates the home-base location in West Africa and the range – the Challenger 604 can fly nonstop across the continent – will stimulate demand from regional and international ...

Piracy in the Gulf of Guinea: Vulnerable Trade Routes

2Mar

By Katarzyna RybarczykNo Comments

African News, Main

Piracy in the Gulf of Guinea: Vulnerable Trade Routes

In 2020, 95% of all kidnappings at seas took place in the Gulf of Guinea. There, pirates, equipped with firearms, frequently enter ships, capture the crew, and steal cargo. Pirates are becoming more and more advanced in their tactics and the majority of attacks are carried out in hopes of getting ransom. Piracy creates problems for ships that on a daily basis travel through the Gulf to transport oil and other petroleum products. How the attacks are organised Most kidnappings happen within 60 nautical miles from the shore. Oil tankers are particularly at risk of being attacked as they carry petroleum products that many pirates hope to steal and later resell. Pirates approach a large ship, and, after taking control over it, move cargo from it onto multiple smaller vessels. They also take the...

SMMEs primed for growth as economy slowly takes steps to recover

23Jan

By Africa BusinessNo Comments

African News, South Africa News

SMMEs primed for growth as economy slowly takes steps to recover

While South Africa’s economy took a series of blows over the last year, business owners remain confident that things will slowly start to stabilise in 2021. This was reaffirmed with South Africa's SACCI business confidence index rising to 93.4 in November of 2020 from 92 in October, above pre-pandemic levels. According to Trevor Gosling, Co-founder and CEO of Lulalend, a large part of the country’s growth this year will be dependent on SMMEs. “Despite the impact of the Covid-19 pandemic, the remarkable ability of these businesses to adapt to change has helped them evolve and ultimately survive. Companies were resilient, optimistic and innovative, trusting that, although the situation will not improve considerably in 2021, it will be able to at least start stabilizing.” Gosling says that t...

23Jan

By Africa BusinessNo Comments

African News, Business, South Africa News

High-Impact Entrepreneurs Raise 4x Capital Year-On-Year

Endeavor empowers entrepreneurs for business growth Despite prolonged global market uncertainty, Endeavor South Africa has reported significant growth in their portfolio of disruptive tech businesses. The local chapter of the global non-profit organisation, which supports high-impact entrepreneurs in emerging markets, reported collective raises of R2bn in 2020 alone amongst the portfolio of 29 businesses, compared to R1.3bn combined during 2018-2019. A number of these businesses delivered strong results, one of which achieved a 300% uptick in volume. Capital Markets Lead Antonia Bothner attributes this acceleration in capital raising due to the growth stage nature of these businesses and the strong underlying performance of the businesses in the tech or tech-enabled space. The portfolio is...

Five Tech Megatrends that can Transform African economies in 2021 and beyond

15Jan

By Richard LiNo Comments

African News, Agriculture, Fintech, Main, Medicine

Five Tech Megatrends that can Transform African economies in 2021 and beyond

The world has been experiencing massive digital disruption with the relentless rollout and adoption of disruptive and innovative technologies. Embracing digital disruption is daunting, since it is extremely unsettling with the rapid change brought about within societies and the severe impact on unskilled labor. Even if the African continent will not be spared by digital disruption, Africa cannot afford to be left out of these global technology (Tech) trends. If technology is wisely implemented, developing African countries are able to hop on the digital bandwagon to rapidly undergo a digital revolution that can boost their respective economies. While disruptive technologies like artificial intelligence, additive manufacturing, augmented and virtual reality, and others are becoming more and...

7Jan

By Africa BusinessNo Comments

African News

Top 5 African News Portal

Newspaper is an essential part of a civilized society. A newspaper is a paper with information about the economy, politics, business, sports, entertainment, etc. The popularity of website-based newspapers is rising as everybody can read them from anywhere. Today, we will discuss the top five African news portals in short. AllAfrica.com is a renowned news portal of Africa. AllAfrica publishes more than 900 reports per day from more than 130 news organizations and 500 others individuals and institutions. The website is full of diversity, and you will find articles on every niche for sure. They say in favour of the governments and against the governments as well. You will find freedom of speech here as the publisher is solely responsible for the writings, and AllAfrica does not have the legal...

Dubai-based prominent African entrepreneur and philanthropist, Mahmood Ahmadu, conferred the Forbes ‘Best of Africa’ Award

14Sep

By Neha KaulNo Comments

African News, Events, Nigeria News

Dubai-based prominent African entrepreneur and philanthropist, Mahmood Ahmadu, conferred the Forbes ‘Best of Africa’ Award

The founder and executive chairman of Online Integrated Solutions is one of three leading African business luminaries to receive the prestigious recognition In a virtual ceremony held on September 11th 2020, Mr. Mahmood Ahmadu – founder of Africa’s leading multi-business IT conglomerate – was one of three celebrated business leaders to be presented the Forbes Best of Africa Award for 2020. Mr. Ahmadu received the Award in recognition of the several philanthropic activities he has led and contributed to – in a personal capacity as well as through corporate social responsibility initiatives. The ceremony was part of an online roundtable supported by the World Philanthropy Network, and will feature a keynote address by former Nigerian President, His Excellency Olusegun Obasanjo. Forbes Custom...

Has the PE industry failed Sub-Saharan Africa?

10Mar

By Abhishek MittalNo Comments

African News, Kenya News, Main, South Africa News

Has the PE industry failed Sub-Saharan Africa?

African PE (Private equity) firms raised less than $20bn in the decade to 2018, equivalent to just 2.5 per cent of the capital raised by the world’s emerging markets, according to a Preqin report. Moreover, most of that African capital was invested into the relatively advanced economies of South Africa and North Africa, with very little flowing into the rest of the continent. This limited investment into Sub-Saharan Africa (SSA) is explained by investors in PE funds as a result of the low returns from such investments. The PE firms, themselves, acknowledge the limited returns, but claim these markets are still nascent and that returns will rise as these economies evolve. Yet the reality is that it may be the approach being taken by SubSaharan Africa’s PE investors that is causing them such...

The impact of Brexit on South Africa and Africa

17Oct

By Morne van der MerweNo Comments

African News, Main, South Africa News

The impact of Brexit on South Africa and Africa

By Morne van der Merwe, Managing Partner and Head of the Corporate/M&A Practice, Baker McKenzie Johannesburg Countries in Africa are preparing for the reality that a hard Brexit could lead to increased risk aversion and reduced investor appetite for trade in the region. Akinwumi Adesina, president of the African Development Bank (AfDB), said recently that AfDB might revise its economic growth projections for Africa if global trade conditions worsened. The growth projections are currently 4% for 2019 and 4.1% in 2020. However, current world trade frictions are also providing many opportunities for the continent, as well as a chance for Africa to showcase its new African Continental Free Trade Agreement (AfCFTA), which now covers the world’s largest free trade area. South Africa is a ...

African elephants under continued threat of poaching, warns UN-backed report

10May

By Africa BusinessNo Comments

African News, Main

African elephants under continued threat of poaching, warns UN-backed report

An updated assessment by a United Nations Environment Programme-administered treaty has confirmed that poaching continues to threaten the long-term survival of the African elephant. Based on the Proportion of Illegally Killed Elephants data, or PIKE, the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) has evaluated the levels of illegal killing through MIKE, the acronym for the Monitoring of Illegal Killing of Elephants programme. MIKE has calculated that illegal killing is the chief cause of death for elephants. Evidence reveals that PIKE levels peaked in 2011 when an alarming 10 per cent of African elephants were poached, before steadily declining through 2017. That level has remained relatively unchanged throughout 2018. Such high PIKE levels are ...