crisis Archives - AfricaBusiness.com

16Feb

By Pablo MitogoNo Comments

Equatorial Guinea, Main

Reduction Of Personnel For Economic Reasons Vs Suspension Of Employment Contracts: Why Are Companies In Equatorial Guinea Spending Money In Times Of Crisis?

By Pablo Mitogo, Associate Attorney, Centurion Law Group Since the outbreak of COVID-19, many countries have been overwhelmed and the health systems of the most powerful countries have collapsed. The wave of chaos has also reached companies, especially in small economies such as Equatorial Guinea. Many companies have seen their volume of activity decrease drastically, with subsequent cost reductions. The question remains how does a company reduce costs without drowning the company? In recent months we have seen many processes of reduction of employee workforce. Careful observation revealed that companies that reduced workforce for economic reasons suffered penalties of 30 days of salary per year of work for each worker. Consequently, they increased costs rather...

14Jan

By NJ AyukNo Comments

Main, Mozambique News

Ending Violence in Mozambique Will Require United Effort; African Energy Chamber Stands Ready to Assist

I won’t sugarcoat it: The situation in Mozambique’s northern Cabo Delgado province is dire. Armed conflicts between security forces and the militant Islamic group, Ahlu Sunnah Wa-Jamo (ASWJ), known locally as “al-Shabab” even though it has no connections to the Somali group with that name, have left dozens of people dead and displaced thousands since last fall. The violence is not new: The insurgents have been mounting brutal attacks within Cabo Delgado since 2017. Some argue that these brutal incidents are a response to poverty and feelings of marginalization among the residents of the province. Others claim ASWJ is motivated by a desire to control the region’s vast natural gas and mineral resources. Government leaders have blamed global jihadism. Any certainly, many of these factors hav...

27Dec

By Africa BusinessNo Comments

African News

South Africa Platinum Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects and Competitive Landscape

NEW YORK, Dec., 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue: South Africa Platinum Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects and Competitive Landscape http://www.reportlinker.com/p01057646/South-Africa-Platinum-Mining-Market-Overview-and-Forecast-to-2020-Trends-Fiscal-Regime-Major-Projects-and-Competitive-Landscape.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Metal_and_Mineral South Africa Platinum Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects and Competitive Landscape Summary GlobalData's mining industry offering, "South Africa Platinum Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major...

14Nov

By Africa BusinessNo Comments

African News

The 10th Forex Conference & Expo Kicks off this Thursday 15 November in Dubai

The show will open its doors in Dubai at 10:00 am on Thursday and will cover online trading currencies, commodities, gold, oil, stocks and derivatives, at Jumeirah Beach Hotel Dubai, and will continue until Friday November 16, 7:00 pm. '' Forex for this year 2012 will witness the participation of Swiss banks specialized in Forex trading along with many trading companies that come for the first time in Dubai. Speaking at the Conference; 15 notable lecturers and speakers from the leading experts and global economic analysts, said Katia Tayar, President of Arabcom Group ; the Organizer of the Event. The Conference provides the perfect opportunity to highlight the trends of the current global capital markets and market expectations in 2013, and it reviews a range of issues of commo...

8Nov

By Africa BusinessNo Comments

African News, South Africa News

Coface projections on SA, Africa and the global economy will have to be tested

By Thandisizwe Mgudlwa Africa is best positioned to provide a thriving business environment, a leading International credit insurer attests. Coface has projected that by 2016, South African exports into Africa will increase significantly but will be offset by an equivalent drop in trade with Europe. The group also says that the will also be an increase in trade with Asia but trade with the US will remain at the current levels. And Garth de Klerk, CEO of Coface South Africa, says: "China will play an important role in SA’s economic future. Currently, 13% of total SA’s exports are to China. They consume 65% of all primary aluminum produced in SA and 70% of all iron ore mined in SA. Notably, China’s biggest export markets in 2011 was the EU at $356-billion followed by the US at...

6Nov

By Africa BusinessNo Comments

African News

International business must reach out to the global masses

By Thandisizwe Mgudlwa An initiative aimed at mobilizing the Global business community to achieve sustainable prosperity must be taken seriously. A document released from Washington, D.C reveals that transnational corporations are now so numerous and in some cases so well capitalized that their global influence now rivals and in many cases exceeds that of governments, according to research published by the Worldwatch Institute. And that around 80,000 transnational corporations (TNCs) operate worldwide, a mere 147 of which control 40 percent of the total value of all these corporations' value. Any vision of a sustainable future must include full recognition of the role that TNCs play in shaping the planet's human and ecological destiny, authors argue in Institute's Stat...

5Nov

By Africa BusinessNo Comments

African News, Malawi News

Malawi Economic Conference Affirms Recent Policy Reforms and Calls for Additional Measures to Achieve More Inclusive Growth

LILONGWE, Malawi, November 5, 2012/African Press Organization (APO)/ – The Malawi Ministry of Finance, the Reserve Bank of Malawi and the International Monetary Fund jointly organized a conference in Lilongwe during November 2-3, 2012 aimed at discussing strategies for enhancing the implementation of Malawi’s Economic Recovery Plan (ERP). The high level conference was held under the theme “Toward More Inclusive Growth.” The conference which was opened by Her Excellency President Joyce Banda attracted leaders from the Executive and Legislative branches of Government, and representatives of civil society, labor, business, academia and Malawi’s development partners. In her address, President Banda charged participants to review critically the ERP implementation strategy and come ...

8Oct

By Africa BusinessNo Comments

African News

Despite Global Slowdown, African Economies Growing Strongly― New Oil, Gas, and Mineral Wealth an Opportunity for Inclusive Development

WASHINGTON, October, 2012 – Sub-Saharan Africa is expected to grow at 4.8 percent in 2012, broadly unchanged from the 4.9 percent growth rate in 2011 and largely on track despite setbacks in the global economy, according to the World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects. Excluding South Africa, the continent’s largest economy, growth in Sub-Saharan Africa is forecast to rise to 6 percent. African exports rebounded notably in the first quarter of 2012, growing at an annual pace of 32 percent, up from the -11 percent pace recorded in the last quarter of 2011. African countries have not been immune to the recent bout of market volatility stemming from the Euro Area crisis, as well as the growth slowdown that is occurring in some ...

22Jul

By The African Press OrganizationNo Comments

African News

IN CHINA, AFRICA, UNITED NATIONS WILL CONNECT THOSE WHO FACE CHALLENGES WITH THOSE WHO HAVE SOLUTIONS, SECRETARY-GENERAL SAYS AT BEIJING FORUM

NEW YORK, July 20, 2012/African Press Organization (APO)/ — Following are UN Secretary-General Ban Ki-moon’s remarks to the Fifth Ministerial Conference of the Forum on China-Africa Cooperation, in Beijing, 19 July: It is a great honour for me to participate on behalf of the United Nations at this important Forum on China-Africa cooperation. I thank the Government of China and the people for their kind invitation and warm hospitality. I commend the leadership of President Hu Jintao in organizing this forum at this very important time in Beijing. I also thank the Government of Egypt for their contribution and leadership and for co-chairing this Forum during the last several years. As the largest developing country, and as the region with the largest number of developing countrie...

17Jul

By AfricaBusiness.comNo Comments

African News

Global Investment Management Industry Continues To Face A Regulatory Avalanche Of Disparate Rules: KPMG Report

Progress is Slow, But Moving toward More Consistent Rules across Every Region NEW YORK, July 17, 2012 /PRNewswire/ -- In its fourth annual analysis of global financial regulations, KPMG, the audit, tax and advisory firm, says investment managers continue to face daunting challenges brought on by a changing global regulatory environment, which is fraught with unanswered questions and an array of differing rules in each region. Observers, however, are beginning to see some consistency regarding the implementation of new regulations across the globe, with the U.S. and Europe setting the bar and Asia catching up. "We are beginning to see progress toward more consistency with regard to global regulations but there still remains disparity in the regulatory requirements across the regions," said ...