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Letshego chief aims to lead race for African financial inclusion
In sub-Saharan Africa about 326 million adults do not use formal or semi-formal financial services. This unbanked group, according to consultancy McKinsey, offers innovative finance providers with a peerless increase opportunity. Indeed, momentum is building behind Africa’s financial inclusion schedule; mobile money operators are on the rise, commercial banks are launching microfinance units, and governments are pushing to formalise economic activity in their respective markets.
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OPEC raises forecasts for global oil demand
OPEC boosted estimates of request for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply.
The Organization of Petroleum Exporting Nations raised forecasts for the all it needs to supply in 2017 and 2018 by about 200,000 barrels a day for each year, according to a statement from its secretariat in Vienna. Still, a rebound in Libyan production pushed the group’s output last month to the highest this year, undermining its plan to rebalance oversupplied world markets.
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Africa’s economic growth in 2016 was driven by East Africa
While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB).
Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
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- Key Facts
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North Africa, Northern Africa is the northernmost region of the African continent, linked by the Sahara to Sub-Saharan Africa. Geopolitically, the United Nations definition of Northern Africa includes eight nations or territories; Algeria, Egypt, Libya, Morocco, Sudan, Tunisia, Mauritania are the Maghreb or Maghrib, while Egypt and Sudan are referred to as Nile Valley. Egypt is a transcontinental country by virtue of the Sinai Peninsula, which is in Asia. North Africa as well includes a number of Spanish possessions, Ceuta and Melilla (tiny Spanish exclaves or islets off the coast of Morocco). The Canary Islands and the Portuguese Madeira Islands, in the North Atlantic Ocean northwest of the African mainland, are sometimes included in considerations of the region.
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Africa's Relationship With China Is Ancient History
2017/07/02In 2002 South Africa's Parliament unveiled a digital reproduction of a map - of China, the Middle East and Africa - that some speculated could be the initial map of the African continent. The Da Ming Hun Yi Tu - the Comprehensive Map of the Great Ming Empire - was drawn up around 1389 during the Ming Dynasty, according to historian Hyunhee Park.
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Economic Outlook Egypt A balancing act
2017/05/30Egypt
A balancing act
Climate change laws around the world
2017/05/14There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.
The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.
Algeria Hydrocarbons, a blessing or a curse?
2017/05/07Algeria
Hydrocarbons, a blessing or a curse?
Japan in Africa Japan looks to grow its presence across Africa
2017/04/19Between 2016 and 2018, Japan has pledged to invest $30 billion in Africa’s development, as it bids to join the likes of China and the US in the battle for influence on the continent.
Competition in Africa is heating up, with Japan aiming to increase its presence and influence on the continent as it looks to make up ground lost to China since the turn of the century.
Japan launched the Tokyo International Conference on African Improvment(TICAD) back in 1993, and since again has invested around $50 billion in Africa, a meagre sum at the same time as compared to China and the US.
Egypt Year in Review 2016
2017/04/17The acceleration of a long-awaited reform programme and continued economic recovery, particularly in the retail and energy sectors, made 2016 a transitional year for Egypt.
Funding approval
On the back of the government making evolution on economic reforms, inclunding allowing the Egyptian pound to trade freely, in mid-November the IMF approved a $12bn bailout package.
A mouth-watering array of African foods
2017/01/09African 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.
Six reasons to invest in Africa
2016/10/03The 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.
Top 10 most competitive Sub-Saharan African economies
2016/10/02A 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.
Ali Bouazizi stands beside a stone monument to his cousin, Mohamed Bouazizi, in Sidi Bouzid
2016/01/06Around noon on December 17, 2010, Ali Bouazizi's phone rang. It was his uncle Salah.
"Grab your camera and come film," Salah told him. "Someone has set himself on fire in front of the provincial government building."
At the time, Ali, presently 43, was active in the opposition against former Tunisian President Zine El Abidine Ben Ali. "Through our newspaper and website, we seized each opportunity to expose the government," he told Al Jazeera in an interview five years next the uprising.
Morocco Year in Review 2014
2015/02/14Morocco’s economy is estimated to have expanded by around 3% in 2014 on the back of automotive and electronics exports increasing by additional than a quarter in the initial 11 months of the year and the government reining in public spending. However, poor weather conditions weakened agricultural output, increasing the importance of food imports.
Egypt Year in Review 2014
2015/01/23With investor confidence growing, Egypt is looking forward to a sizeable boost to its economic performance in 2015.
A peaceful conclusion to presidential elections in June, along with slowing inflationary pressures, a slew of crucial fiscal reforms and rallies on both the EGX and in the tourism sector, have helped pave the way for reasonably robust expansion over the coming 12 months.
Algeria struggles to adapt
2015/01/03With oil and gas output diminishing, Algeria is desperate to diversify its economy and avoid a continued slide towards unsustainable fiscal deficits. The country’s political stability hinges on whether or not it succeeds.
Algeria is one of the world’s gas powerhouses. It ranks 10th globally for both reserves and production, and its output is the highest in Africa. It is as well the continent’s third major oil producer.
Parliamentary and presidential elections are drawing to a close in Tunisia,
2014/12/22Parliamentary and presidential elections are drawing to a close in Tunisia, marking significant democratic reforms. However while the country is changing politically, residues of the old authoritarian regime are still visible in the economy, stifling increase.
Morocco offers oasis of calm in north Africa
2014/09/14With a lot of north African nations in political and economic turmoil, Morocco’s stability and strong increase are proving attractive for Gulf-based investors looking to access the north African market.
Egypt aims to boost wheat self-sufficiency
2014/08/16With only limited opportunity to improve wheat yields due to shortages of arable land and water, Egypt is looking to tightening up the storage and logistics links in its grain supply chain to reduce import costs and bolster food security.
The EU tightens control over imported Moroccan fruits and vegetables
2014/08/16A new entry price system for imported fruit and vegetables to the EU has sparked concern part Moroccan producers and policymakers in recent months.
Morocco’s parliament is currently discussing a bill to regulate Islamic finance in the country
2014/07/11Morocco is on the cusp of a legislative breakthrough that will pave the way for a fully fledged Islamic finance system in the country. But with a history of failed Islamic banking experiments, on top of the usual problems associated with establishing a new market in a country, Morocco's Islamic banking sector is unlikely to take an instant hold.
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Africa: Making Things Happen at the Bank - 'Not a Talk Shop' - Akin Adesina
2017/07/02Dr. Akinwumi Adesina is focusing on five areas to achieve the African and world goals for a prosperous continent since becoming president of the African Development Bank - Africa's major public financial institution in September 2015. He was a keynote speaker at this month's Corporate Council on Africa's U.S.- Africa Business Summit in Washington D.C. and moderated a lively panel with five African government ministers. He as well received the Gene White Lifetime Succcess Award from the World Child Nutrition Foundation. This week, he was named the 2017 recipient of the World Food Prize, a prestigious honor that includes a $250,000 award. In an interview in Washington, DC, Adesina discussed the Development Bank's ambitious schedule and his vision for attracting the increase capital Africa needs. Posting questions for AllAfrica was Noluthando Crockett-Ntonga.
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Lydia Lariba Bawa, Commissioner, National Insurance Commission (NIC), on strengthening and expanding the market
2017/01/14To what extent is consolidation needed in the country’s insurance sector?
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Palm Hills Developments Egypt’s insatiable demand for real estate makes developers hot property
2016/05/25The 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.
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Fredrik Jejdling, Head of Region for sub-Saharan Africa, Ericsson
2014/01/01Full of brains, highly energetic Fredrik Jejdling has held his current position since April 2013. He joined Ericsson in 2006 next having before been Director and Chief of Managed Capacity, Vice-president and Chief of Sales and Finance for Business Unit World Services.
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Mo Ibrahim is chair of the Mo Ibrahim Foundation
2013/05/18Being an optimist about Africa’s economic prospects was once a pretty lonely cause. But I am thrilled to presently find myself in a very crowded field.
The continent’s strong and sustained increase – evolution amount the additional remarkable given the severe problems in the world economy– has been one of the success stories of the last decade.
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Bornman du Toit, MTN Group’s General Manager for Products, Services and Innovation
2013/03/31There is no doubt that Africa is a hot bed for Mobile Banking and Mobile Money. In this issue, glObserver catches up with Bornman du Toit, MTN Group’s General Manager for Products, Services and Innovation, to get a lowdown on mobile telecom industry in Africa.
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Isam Bayazidi is the CEO of ikoo,
2013/01/14Isam Bayazidi is the CEO of ikoo, an integrated digital marketing solution provider with the major reach in the Middle East and North Africa, combining additional than 120 websites of leading publishers in the fields of sports, women, news, business, automotive, and additional.
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Khaled Hegazy
2013/01/14Mr. Khaled Hegazy is the External Affairs Director for Vodafone Egypt, the leading telecommunications company and one of the major companies in the Middle East.
His scope includes Media and Public Relations, Corporate Social Responsibility and the Vodafone Foundation, Regulatory Affairs, Government Relations, Legal Affairs and Corporate Security.
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Strive Masiyiwa, philanthropist and founder of Econet
2015/11/23As a global business leader, African philanthropist, anti-corruption activist, and mentor to thousands, Strive Masiyiwa is a vibrant example of someone who has little doubt about what motivates him, what he hopes to accomplish, and what sort of example he wants to set for others along the way. His is a character forged by struggle and perseverance against corruption, and shaped by a deep faith that guides him on the world stage as he looks to bring about positive change to his home continent. We had the pleasure of speaking with Masiyiwa in London during a brief pause in a schedule bursting with business and philanthropy interests.
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Rabat
2012/12/05Rabat , is the capital and third major city of the Kingdom of Morocco with a people of approximately 650,000 (2010). It is as well the capital of the Rabat-Salé-Zemmour-Zaer region.
The city is located on the Atlantic Ocean at the mouth of the river Bou Regreg. On the facing shore of the river lies Salé, the city's major commuter town. Together with Temara the cities account for a combined metropolitan people of 1.8 million. Silting problems have diminished the Rabat's role as a port; nevertheless, Rabat and Salé still maintain significant textile, food processing and construction industries. In addition, tourism and the presence of all foreign embassies in Morocco serve to make Rabat one of the majority significant cities in the country.
Rabat is accessible by train through the ONCF system and by plane through the nearby Rabat-Salé Airport.
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