African News Archives - Page 7 of 46

Public Private Collaboration is Key to a Sustainable Mining Sector in Africa

2Jun

By Africa BusinessNo Comments

African News, Business, Events, Ghana News

Public Private Collaboration is Key to a Sustainable Mining Sector in Africa

Leading event in Accra shines a spotlight on responsible change The town of Obuasi in the Ashanti region of Ghana, West Africa, has a long and rich mining history. In 1897, large scale commercial and industrial mining began at the Obuasi Gold Mine and continued for over a century until its closure in 2014 for major restructuring. In 2018, a $500 million investment from AngloGold Ashanti was approved for the redevelopment of the Obuasi mine, with first gold poured in 2019. Today, the project is in its third phase, with construction currently underway to develop the necessary supporting infrastructure to sustain a ramp-up in production by the end of 2023. According to Eric Asubonteng, Managing Director of AngloGold Ashanti, the Obuasi redevelopment project is an excellent example of publi...

11May

By Africa BusinessNo Comments

African News

The road to recovery for Africa: The potential of DFIs to halt the spiraling unemployment rate

DFIs directly or indirectly support over 6 million African jobs in the private sector New report published today by the ONE Campaign and the African Centre for Economic Transformation (ACET) reveals that the 10 largest global bilateral development finance institutions (DFIs) could substantially reduce Africa’s spiraling unemployment rate by 2025. The report titled Shifting and Accelerating DFI investments for more decent jobs in Africa estimates that nearly 6 million African jobs have been supported by DFIs to date, which if sustained may make a significant difference in the continent's unemployment crisis. As Africa struggles to recover from the economic aftershocks of the covid-19 pandemic, which wiped out 20 million formal and informal jobs, and now with the huge impact of the on-goi...

10May

By Africa BusinessNo Comments

African News, Mozambique News

New Handling Record at Port of Maputo Points to a Positive Market Recovery

Leading transport event tackles the key challenges of inter-Africa trade expansion In 2021, the Port of Maputo achieved a new handling record of 22.2 million tons, representing 21% year-on-year growth compared to the previous year’s handling volume of 18.3 million tons. A reflection of a post-Covid market recovery, Mozambique’s Maputo Port Development Company (MPDC) CEO Osório Lucas says this growth can also be attributed to a more efficient usage of several of the port’s rehabilitated berths, as well as an expanded ferro slab footprint and dedicated rail siding. “Investment in automation solutions within the port were carried out throughout last year, as part of a strategic expansion plan prepared by the MPDC to address the bottlenecks within the Maputo Corridor and therefore imp...

9May

By Africa BusinessNo Comments

African News, Events

Top Trends Shaping Transport Infrastructure in Africa

Transport infrastructure is a fundamental enabler of sustainable economic growth in Africa and essential for global competitiveness and trade. As with many industries around the world, the transport industry is currently experiencing great change, which is being driven by several global trends, including technology and automation and Environment Social Governance (ESG). Tech-Driven Efficiency From self-driving vehicles and intelligent traffic management systems to the design of individual transport chains in passenger and freight transport, digitalisation shows great promise in transforming transport networks across the world. Jürgen Maier, Owner and Advisor at Mobility Advisors in Switzerland says that while industrialised countries have made the first inroads in collecting and using ...

Trends Toward A Circular Agriculture In Kenya

7May

By Karin BoomsmaNo Comments

African News, Agriculture, Kenya News, Main

Trends Toward A Circular Agriculture In Kenya

Circular agriculture is termed a food system that is in harmony with nature and meets social needs simultaneously. With the growing population in Kenya, the food supply has been in high demand and this has come at the expense of the environment. Farmers have shifted to using more intensive farm chemicals causing land erosion and poor quality of the soil. The question now is, are we ready to adopt circular agriculture as a country? Are there conversations driving the country towards Circular agriculture? Noticeable trends show that the country is ready or is already shifting to a circular economy. This article highlights 11 trends being adopted, which have been showcased in the recently published report on ‘The Netherlands and Kenya Moving Toward Circular Agriculture in Kenya’. The report...

Finding a silver lining in offshore investments during unprecedented times

27Apr

By Africa BusinessNo Comments

African News

Finding a silver lining in offshore investments during unprecedented times

There isn’t a better time to equip offshore investors with the best product options available for their needs. Following President Cyril Ramaphosa’s announcement on the further opening of the South African economy, more people are looking for new investment opportunities. In 2020, South Africa's share in the global gross domestic product (GDP) adjusted for Purchasing Power Parity amounted to approximately 1%1. This is highly influenced by the extreme concentration of the country’s ownership and control. A relatively small number of firms are dominating the economic sector. However, there are options available for investors who wish to diversify their wealth, beyond the South African borders. Foreign exchange, also known as FX or Forex, is the conversion, or exchange, of one currency into...

24Jan

By Africa BusinessNo Comments

African News

2022 is likely to be a good year for the Gulf economies

Dubai is flourishing due to Expo 2020 Oil prices are still on the rise in 2022, which bodes well for several Gulf countries whose budgets still rely heavily on revenues from oil. Those countries’ economies took a hit when the price of oil plunged in 2020 due to the pandemic and lockdown measures. This year it seems that more optimism is warranted. The World Bank maintains its optimism The World Bank had been positive in 2021 about the economic recovery in GCC countries. Expectations were that those countries would achieve an average growth of 2.2%. Those numbers were quite promising when compared to the contraction of over 4% witnessed just a year earlier in 2020. Another good factor is that the gross output from non-oil activities is growing in the region, which means that those econom...

16Dec

By Africa BusinessNo Comments

African News, Kenya News

Jiji Kenya Wins as the Mobile App of the Year| Shopping and E-commerce in the Mobile App and Summit Awards, 2021

Jiji, one of the most popular e-commerce sites in Kenya and the largest online classifieds in Kenya, has scooped the Mobile App of the Year, Shopping and E-commerce category. The award was presented to Jiji Kenya during the Mobile App and Summit Awards, 2021, which was held at the PrideInn, Westlands, on Friday, 10th December 2021. The Annual Mobile App Summit and Awards recognize and celebrate the best practises in mobile app design, animation, and user experience across a range of categories, including and not limited to news, entertainment, shopping and e-commerce, agri-tech, travel, health and lifestyle, education, games, social and communications, transport and logistics, gambling, food, and beverage. Jiji Kenya has continually set itself as a leader in the e-commerce industry thro...

9Dec

By Africa BusinessNo Comments

African News, Somalia News

Salaam Somali Bank to distribute $4million to Somalia’s best and brightest young entrepreneurs

Salaam Somali Bank has announced that $4 million has been earmarked for Somali entrepreneurs between 2022 and 2024 to ‘kick-start’ economic growth in the Somalia economy at this year’s Mogadishu Tech Summit The Salaam Entrepreneurs Fund (SEF) aims to cultivate young Somali business people and support existing Micro-, Small and Medium-sized Enterprises (MSMEs) in the wake of Covid-19 Over $1million has already been loaned from the SEF since 2019 to 1,035 entrepreneurs, 43% of whom are female Mogadishu – Today, Salaam Somali Bank announced plans to inject $4million into the Somalia economy between 2022 and 2024 through specialist, zero-interest micro-loans to Somalia’s best and brightest entrepreneurs. The announcement, delivered at the annual Mogadishu Tech Summit – sponsored ...

3Dec

By Africa BusinessNo Comments

African News, Egypt News, Ethiopia News, South Africa News

Global Cities Report – Five strategic imperatives for city leaders

Last year’s edition of the Kearney Annual Global Cities report provided a revealing overview of urban centres amid the unprecedented public health catastrophe of the COVID-19 outbreak. A stark snapshot was painted of a volatile, increasingly fragmented environment characterized by fierce competition among cities for status, a situation acutely exacerbated by the coronavirus pandemic. “The 2020 report provided a perspective on where the world was just before the impact of COVID-19 was felt. In this year’s report, the data used—largely collected from 2020 and early 2021 publications—provides a view of the impact of the first year of the pandemic. It also sheds light on the different recovery trajectories across the world’s global cities,” says Prashaen Reddy, a partner at global managemen...