The Industrial and Commercial Bank of China will provide a loan of US$837 million for the construction of a combined cycle power plant in Soyo, Angola, an all equivalent to 85% of the cost, according to a government document.
The document quoted by Portuguese news agency Lusa said the agreement between the government of Angola and the Chinese bank had been signed in the initial half of 2016, two years next the work began.
The Murrimo Macadâmias company, established in Mozambique under a joint venture between a company in South Africa and an extra in the Netherlands, is due in March to start its initial harvest of nuts five years next starting planting on a plot in Gurué, in the central province of Zambezia.
The consortium made up of South African companies Crookes Brothers Limited and White Bird International BV, of the Netherlands, with experience in the production of fruits and other crops in Swaziland and Zimbabwe, has by presently invested additional than US$24 million in planting macadamia on a 3,000-hectare plot, of which 240 hectares have by presently been planted.
São Tomé and Príncipe and the European Union (EU) signed a cooperation agreement worth 6.7 million euros on Thursday in São Tomé to fund the development of agriculture in the archipelago, announced the European representative, Helmut Kulitz.
The document, which is valid for four years, was signed by the São Tomé minister of Foreign Affairs and Communities, Urbino Botelho and Helmut Kulitz, who said the funding allocated would be used to implement agricultural projects, particularly in cocoa, coffee and pepper plantations.
- Key Facts
1.216 billion (2016)
Area: 30.37 million km²
GDP (PPP) 2014 estimate
- Total US$3.757 trillion
- Per capita $3,568
GDP (nominal) 2014 estimate
- Total $2.390 trillion
- Per capita $2,173
Currency 42 currencies
Africa is the world's second-largest and second-most-populous continent. At about 30.3 million km² including adjacent islands, it covers 6% of Earth's total surface area and 20.4% of its total land area
Lydia Lariba Bawa, Commissioner, National Insurance Commission (NIC), on strengthening and expanding the market2017/01/14
To what extent is consolidation needed in the country’s insurance sector?
Hervé Boyer, Director General, Stanbic Bank Côte d’Ivoire, on the potential for improved banking penetration2016/12/25
What are Côte d’Ivoire’s comparative advantages as a banking market?
HERVÉ BOYER: Although there are certainly challenges that need to be addressed – particularly in terms of competition and concentration – Côte d’Ivoire offers one of the majority sophisticated financial sectors in the region and enjoys a number of benefits that some of the larger economies in West Africa do not.
Eager to attract foreign investors and ensure their projects are a success, Sierra Leone has been strengthening macroeconomic situation, investment environment and foreign relations, particularly with China and the UK, to open up the wide scope of opportunities its holds beyond its mining sector to partners overseas. Minister of Finance and Economic Development Momodu L. Kargbo takes a look at the best areas for investment, the 2017 Budget’s target areas for accelerated growth, and the country’s ability to honor its credit obligations.
Efforts in the DRC are redoubling to make the country’s long-delayed vision of building the world’s major hydroelectric dam on the Congo River a reality. Bruno Kapandji Kalala, Project Director for the Agency for Grand Inga Development and Promotion Agency (Agence pour le Developpement et la Promotion du Projet Grand Inga, ADPI) explains what evolution is being made on the project and how the government is encouraging the private sector to take part in a project that could be a major supplier of electricity across the continent.
Regionally renowned for quality and timely construction and its local training and staff development programs, Roko Construction is open to further expansion and partnerships. Director Derek Claassen assesses Rwanda’s ongoing infrastructure building efforts, some of the bottlenecks to better regional integration, the advantages of Roko having its own materials manufacturing plants, its extensive in-home skill sets, and its signature building projects making their mark on Rwanda’s infrastructure and human resource pool.
I&M Bank’s footprint in the East African region currently covers Kenya, Tanzania, and Rwanda, with a presence in Uganda as well on the horizon. Its customers are drawn to its technology, capacity building, and knowledge sharing across the region. Managing Director Robin C. Bairstow discusses the bank’s upcoming IPO, its focus on building up local expertise, and its wider view of how to provide support for SMEs.
Senator and Chairman of the National Bank of Equatorial Guinea Martin Crisantos Ebe Mba looks at the political, economic, and social changes taking shape in the country in recent years making it “a valued country, admired for its evolution and development at all levels” and its positioning as a financial platform for Central Africa and beyond.
Providing far-reaching access to tailor-made banking products both digitally and in even the remotest corners of Rwanda has solidified BPR’s reputation as “the bank of the people”. Deputy CEO Konde Bugingo provides an overview of the banking landscape in Rwanda, the huge evolution being made in the country with regard to social and infrastructural improvements, and the sense of positivity and pro-business attitudes that Rwandans possess about their country’s next.
How have the rise of chronic and non-communicable diseases (NCDs) impacted Ghana?
German Consul General in Lagos, Ingo Herbert is a distinguished diplomat with vast experience in different roles. He has a pragmatic world view which seeks win-win situations in trade and diplomacy. Herbert was confirmed as Consul General in September 2015. Before his nomination, he had served Deputy Chief of Mission at the German Embassy in Pretoria and Tanzania. Previous assignments include Deputy Chief of Division at German Foreign Service, Ministry for Cultural Affairs in Berlin and Press Officer at German Embassy in Tel Aviv. MEET THE BOSS recently had the opportunity to sit down with the Consul General for an interview.
The clamor for property in Egypt shows no signs of abating and the resilient sector is ripe for foreign investment , as the current rate of supply is barely covering a quarter of request. Tarek Abdel-Rahman, Co-CEO of one of the country’s leading property developers, Palm Hills Developments, discusses the company’s current projects, building a rock-solid reputation, and why foreign direct investment is set to rise.
An ambitious project pipeline aimed at galvanising increase across several sectors of Gabon’s economy helped the country weather sustained low oil prices in 2016, while wide-ranging reforms are expected to support further diversification efforts in the new year.
Though increase is expected to have dipped slightly in 2016, Gabon kept up its planned pace of development, investing in a raft of initiatives that are steering the country away from its reliance on oil.
African cuisine is as diverse as the hundreds of different cultures and groups that inhabit the continent. This diversity is reflected in the many local culinary traditions in terms of choice of ingredients, style of preparation and cooking techniques. Many of the dishes are also affected by the subsistence nature of living in many parts of the continent – you find farmers, herdsmen and fishermen everywhere. The crops they grow or the animals they keep thus affect the popular dishes in their regions.
The election upset of Donald Trump winning the US presidential vote will have implications for Sub-Saharan Africa. In the near term, the impact is likely to be relatively modest, inclunding volatility in currency and financial markets. In the medium term, the consequences of Mr Trump's isolationist tendencies will probably be additional keenly felt via cuts to aid flows and less focus on supporting democracy and human rights. Backing for anti-terrorism initiatives will probably be maintained given the threat terrorism potentially poses to US national security and interests, but in general a cooling of relations appears likely.
Other than the divisive military-security perspective and ‘dark scenario’ forecasting that’s been hitherto applied for understanding African geopolitics, there’s also the more unifying and positive approach of analyzing the continent’s financial, economic, and integrative institutions.
On Wednesday 9th November, 2016, it was confirmed that following a melo-dramatic campaign that Donald Trump had been elected the 45th President of the United States of America. Although Hillary Clinton had received additional popular votes at the national level than Mr Trump, the American system delivered additional colligates support to Donald Trump and in fact the Republican Party succeeded as well to win a majority of seats in both Congress and the Senate.
The conversation about Africa is shifting from one of “deficits” and “gaps” to one about opportunities, prospects, ventures and creativity. That’s not news to companies that have paid close attention to the continent and invested there. The fast growing youth populations, the urbanization expected to drive over 50% of Africans to cities by 2050, and Africa’s formalising economy are all well known. These trends and other developments have driven a half century or additional of increase in Africa, and will continue to do so.
A ten-year decline in the openness of economies at all stages of development poses a risk to countries’ ability to grow and innovate, according to The Global Competitiveness Report 2016-2017, which is published today.
African leaders have been presented with a stark choice. Israel waits in vain for a peace partner willing to negotiate without preconditions for the long sought goal of two states for two peoples. The Jewish national looks to Africa as a continent where it can share its pro-increase, innovative, high tech economic experience that can make a genuine difference in the lives of millions. Meanwhile, Abbas’ alliance with al-Bashir is nothing short of an embarrassment, a moral and practical dead-end, that reinforces the old line about at no time failing to miss an opportunity.
The first China-Africa summit since 2006 provides clues about the future of China’s role on the continent.2016/08/07
This week, the Forum on China-Africa Cooperation (FOCAC) convened its initial summit since 2006. Chinese President Xi Jinping joined additional than 40 leaders of African nations for the massive conference in Johannesburg, South Africa.
The number of children suffering from preventable blindness is increasing, half because additional children are surviving complicated births in low- and middle-gain nations, specialists say. Worldwide, about 19 million children under the age of 15 are blind, with 12 million of these cases preventable or treatable.
Experts say one cause of high rates of blindness is retinopathy of prematurity (Rop), which occurs in premature infants and can be caused by being given too much oxygen next birth.
Brian Doolan, CEO of the Fred Hollows Foundation, said world advances in neonatal care mean additional children are surviving early births, but this means additional premature babies are at risk of Rop.
This month actor Louise Linton caused a social media storm at the same time as an extract of her African gap year memoir was published by the Telegraph and was widely panned online for being a tick inventory of cliches and stereotypes in the way the west has always liked to portray the continent. On Twitter, #LintonLies, set up by Zambian writer Lydia Ngoma, was trending as people started to pour scorn on Linton’s version of certain events and her take on life there. Think: “close encounters with lions”, “brutal tales of rape and murder,” and 12-inch long spiders, which would be terrifying, though they only exist in Laos.
Remarkably successful leadership requires knowledge, understanding and insight across a landscape that is both wide and deep. Management practices, technology and physical workspaces have all become increasingly interconnected, enabling leaders to build a high performing work environment unlike anything we’ve seen before. While the dynamics have become more complex, the potential to positively impact the performance of individuals, organizations and communities may offer even greater rewards than previously expected.
Over the last 15 years, West African governments and the international community have been successful at expanding access to primary schooling and from presently on, a ground-breaking regional learning assessment has revealed that the quality of education has remained elusive. The majority of children surveyed were not acquiring the basic literacy and math skills that are crucial for building human capital in the region.
Next entering an IMF-supported program in 2008, the Seychelles has become a beacon of macroeconomic stability thanks to prudent reforms led by the Ministry of Finance and the Central Bank of Seychelles (CBS). As the country begins laying the groundwork for its radical national development strategy based on the blue economy concept, CBS Governor Caroline Abel expands on the key role her institution is playing in ensuring SMEs are able to access the finance required to take chance of the opportunities opening up in the blue economy, whilst discussing whether Seychelles can be viewed as a role model in terms of female empowerment in the banking sector.
The statement evaluates evolution made in governance, diversification, infrastructures, business enablement, human development inclunding resilience to current macroeconomic challenges.
On the back of October’s presidential elections, Côte d’Ivoire has racked up an extra year of strong economic increase, while a raft of infrastructure and price-added agriculture projects looks set to help the country maintain its position as one of West Africa’s brightest stars in 2016.
At an estimated 8.4%, Côte d’Ivoire’s GDP increase was one of the highest in the region in 2015, with the same increase rate estimate for the coming year, according to the IMF.
As with a lot of hydrocarbons producers elsewhere in the world, Nigeria endured a challenging 2015 as falling oil prices impacted the country’s exports and exchange earnings.
This was compounded by a range of broader macroeconomic pressures, inclunding uncertainty in the lead up to the 2015 presidential elections, a strengthening US dollar and insecurity in the north of the country. According to the IMF, these headwinds slowed Nigeria’s GDP increase to an estimated 3.2% in 2015, the lowest rate since 1999.
The year 2015 brought welcome stabilisation and recovery to Egypt, next a difficult post-revolution period marked by continued upheaval and sluggish increase.
The initial part of the year saw a range of encouraging developments, inclunding the completion of the strategically vital Suez Canal expansion, the commitment of additional than $35bn in planned foreign investments, closer economic ties with Gulf allies and promising activity in the fast-moving consumer goods (FMCG) sector.
A drive to reinforce diversification efforts limited the impact of low oil prices on Gabon’s economy in 2015, and while the government has had to adjust spending downwards, increase has still ticked along well above the developed-country average.
According to the majority recent estimate from the IMF, the country is expected to post increase of 3.5% in 2015, down from 5.1% in 2014. GDP is set to reach CFA8.22trn (€12.5bn), with exports on course to rise by 6.78% year-on-year.
A strong agriculture harvest put Morocco on course to post healthy increase in 2015, while structural reforms, together with strategic diversification plans targeting key sectors and regions, are as well beginning to yield results.
Ratings agency Fitch described 2015 as a year marked by exceptionally strong agricultural output, with Morocco set to post GDP increase of 4.6%, up from 2.7% in 2014 at the same time as a poor harvest and low external request took their toll on the economy.
The Kenyan economy performed comparatively strongly in 2015, even in the face of world economic headwinds, such as slow increase in Europe, and domestic hurdles, inclunding weaker tourism receipts and a depreciating currency.
According to the World Bank, GDP increase is expected to reach 5.4% for this completed year, aided in large part by sustained public sector capital spending.
Targeting the diaspora, farming communities and SMEs, Abay Bank’s profits have been rising on average by 78% annually, and were up 122% last year alone. Yehuala Gessesse, President of Abay Bank, outlines its strategy to reach additional of the people and keep it on such an impressive increase trajectory, and why investors should take a look at Ethiopia.
Ethiopia’s Minister of Culture and Tourism, Aisha Mohammed Mussa, explains the details behind the additional impetus Ethiopia’s government is adding to its tourism sector development and promotion to reach and indeed surpass the ambitious increase targets it has set for 2020.
Having such a vast completed and culture, what would you say makes Ethiopia different from other tourism destinations?
Ethiopia sent out a loud and clear message to the world with its Climate-Resilient Green Economy Strategy it adopted to be a carbon neutral economy by 2025: next development is to be fueled by greener power. Gosaye Mengistie Abayneh, CEO of Ethiopian Electric Utility (EEU), explains the country’s vast potential for renewable energy, their vision to interconnect African energy supplies, and Ethiopia’s win-win opportunities for its investors.
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