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Business / Trade in Africa

  • Egypt Signs Agreements With Mauritania as Sisi Looks to Diversify Egypt’s Relations

    EGYPT, 2016/04/05 Egypt and Mauritania signed six memoranda of considerate with Mauritania on Sunday in the presence of the two nations’ presidents, Abdel Fattah Al-Sisi and Mohamed Abdel Aziz, according to a statement from Egypt’s National Data Services. The signed memoranda will see the two nations cooperate in the fields of maritime transport, building and housing developments, culture, petroleum and minerals, and the health sector, part others.

  • East Africa trading bloc ranked high in regional integration

    DJIBOUTI CITY, 2016/04/04

  • Morocco, Russia Set to Promote Trade

    RUSSIA, 2016/04/03 Government chief Abdelilah Benkirane talked on Friday with Russia’s Deputy Minister of industry and trade Victor Evtuhov which focused on the means to promote trade between the two nations. Both sides voiced their satisfaction with the friendship and cooperation relations between Morocco and Russia, noting that the strategic partnership between the two nations has been reinforced thanks to the official visit that HM King Mohammed VI paid to the Russian federation, the Chief of government’s office said in a statement.

  • Africa, India keen on strengthening bilateral relations

    INDIA, 2016/03/19 Trade between India and Africa has risen several folds over the years. According to statistics, bilateral trade grew to 72 billion US dollars in the fiscal 2014-15 from 30 billion in 2007. It is against this backdrop that the 11th India-Africa Business Conclave in New Delhi was aimed at boosting bilateral relations between the two. The summit was attended by over 400 delegates from 37 African nations.

  • East Africa: South Sudan to Boost EAC Market.

    SOUTH SUDAN, 2016/03/06 Going by the saying that large is better, the admission of South Sudan the East African Community (EAC), is destined to enhance trade within the region, experts say. The world's youngest country was admitted to EAC at the 17th summit held in Arusha, Tanzania on March 2. The summit was attended by four regional presidents, inclunding Uganda's Yoweri Museveni, Kenya's Uhuru Kenyatta, Tanzania's John Magufuli and Rwanda's Paul Kagame.

  • Time for Africa to Diversify from Mining, Oil and Gas

    AFRICA, 2016/03/04 One of the loudest messages from Africa’s biggest mining conference last week in Cape Town, South Africa is clear: Low commodity prices are here to remain for a while. The case is presently additional urgent than ever for resource-based African economies to diversify. At the African Transformation Forum (ATF) in Kigali, Rwanda from March 14 to 15, economists, policymakers, investors, and civil society will apply their minds to breaking the dependence of a lot of African nations on raw natural resources. In the African Center for Economic Transformation’s 2014 African Transformation Statement, Chief Economist Yaw Ansu argues: “Two essentials in economic development are acquiring the capability to produce a widening array of goods and services and choosing which ones to specialize in.”

  • Egypt's Sisi opens Africa economic summit to boost investment

    EGYPT, 2016/02/21 EGYPT’S President Abdel Fattah al-Sisi opened on Saturday an economic summit attended by African leaders and businessmen that aims to boost trade and investment across the continent. Additional than 1,200 delegates inclunding some heads of national will negotiate business agreements for the next two days at the Red Sea resort of Sharm el-Sheikh, to attract private sector investments in Africa.

  • Ghana: Financing SMEs Still Challenging in Ghana

    GHANA, 2016/02/08 Access to finance and the high cost of credit continue to impact negatively on the operations of Small and Medium Enterprises (SME's) in the country. The situation has been attributed to the absence of adequately resourced institutions inclunding some macro-economic policies that discourage granting of credit due to the high risks associated with some SMEs. The Association of Ghana Industries (AGI) for instance, at a stakeholders' forum, revealed that almost all proposals by its members to fasten funding from the Export, Trade Agricultural and Industrial Development Fund (EDAIF), were denied in 2015.

  • Africa-India cooperation has snapped into focus as top leaders seek to foster closer relations.

    INDIA, 2016/01/30 Following a high level summit in October, Africa-India cooperation has snapped into focus as top leaders seek to foster closer relations. During the summit, India’s expertise in agriculture, business services and ICT were much vaunted, as was the subcontinent’s longstanding trade and migration relationships with Africa – particularly on the eastern and southern coasts. However, maritime security and commerce is an extra area in which African nations are seeking better collaboration with India. Securing coastlines from the threat of piracy, safeguarding ecological systems and hampering illegal fishing activities are some of the key ‘Blue Economy’ areas they wish to address.

  • Uganda, Kenya lead on better ease of doing business

    KENYA, 2016/01/30 Uganda has the majority improved business environment in Africa, according to the Doing Business 2016 statement released in October by the World Bank. The east African country’s improvment- measured on the basis of number of reforms and development in relieve of business scores - was outmatched only by Costa Rica globally. Its in general ranking rose to 122 (out of 189 nations), gaining 13 positions compared to 2014, thanks in large part to three business reforms throughout 2015.
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