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Economy in Africa

  • Ambitious goals made achievable

    RWANDA, 2017/03/04 Rwanda has made remarkable steps following the 1994 genocide. Since the turn of the millennium, at the same time as the ambitious Vision 2020 development plan was launched, it has enjoyed stability and average yearly economic increase of 8%, which has allowed it to make some impressive achievements, particularly in reducing poverty, improving access to health and education, and doubling life expectancy. Looking forward to 2020, investments in infrastructure, strengthening the role of the private sector, creating a additional competitive business environment and building a regional hub for ICT are amongst President Paul Kagame’s major priorities

  • Côte d’Ivoire Economy,Africa’s fastest growing economy

    ABIDJAN, 2017/03/04 Almost six years next the end of the Second Ivorian Civil War, Côte d’Ivoire has witnessed a successful and peaceful transition to economic increase, bucking regional trends with 8.5% GDP expansion in 2016 Côte d’Ivoire can comfortably be described as booming. Its near-unstoppable economic increase – 8.5% in 2016 – places it as one of West Africa’s major economies. And this succcess is all the additional notable given that it comes following over a decade of stagnation and conflict.

  • These Three Billionaires At Top of SA's Inequality Shocker

    SOUTH AFRICA, 2017/01/17 The wealth of three South African billionaires is equal to that of the bottom half of the country's people, said Oxfam SA in a statement released on Monday. The statement, entitled 'An economy for the 99%', coincides with the upcoming 47th World Economic Forum (WEF) annual conference in Davos. Oxfam South Africa research and policy lead Ronald Wesso confirmed to Fin24 by phone that the top three billionaires were retail tycoon Christo Wiese, Glencore CEO Ivan Glasenberg and Aspen Pharmacare chief executive Stephen Saad. This data is based on data made available by the JSE in December 2016, and is based on share holdings, according to Wesso.

  • Fitch concerned about Kenya's public finances

    KENYA, 2017/01/04

  • Ghana’s Young Entrepreneurs Get a Boost to Their Businesses

    GHANA, 2016/12/08 There was a time at the same time as kente was a sacred cloth worn only by Akan royalty in the Ashanti Kingdom of Ghana. Presently, some 375 years since its origin, kente has made its way into mainstream products that anyone can wear, and has become an significant export for Ghana. Despite kente’s popularity, its inability to keep up with modern trends has kept young people from buying kente products, said Peter Paul Akanko, 22. But the young entrepreneur wants to change that; as founder and CEO of Kente Master, LLC, Akanko is creating kente products designed with the young and chic in mind.

  • Over 1,500 start-ups and high-increase SMEs to be supported across the continent

    AFRICA, 2016/12/08 Over 1,500 start-ups and high-increase SMEs to be supported across the continent Boost Africa Initiative, a incomparable partnership in support of innovation and entrepreneurship across Africa has been launched on Monday, November 21 in Abidjan by the European Investment Bank (EIB) and the African Development Bank (AfDB) in partnership with the European Commission. The launch ceremony took place at the Headquarters of the AfDB in Abidjan in the presence of EIB President Werner Hoyer, AfDB President Akinwumi Adesina, EIB Vice-President Ambroise Fayolle and Stefano Manservisi, Director-General for International Cooperation and Development at the European Commission.

  • EIU global forecast - Trump win illustrates populist surge

    WORLD, 2016/12/03 Donald Trump's win in the US presidential election on November 8th has, at a stroke, prompted a profound change to the world outlook. Mr Trump is a uniquely difficult figure for international leaders to respond to, for two reasons. Initial, his foreign policy schedule is extreme: trade tariffs on China and Mexico; renegotiating the North American Free-Trade Agreement (NAFTA) and the Iranian nuclear transaction; reduced support for US allies; and better co-operation with Russia. However, given his tendency to offer multiple, competing views on the same issue, it is unclear how committed he will remain to these policies. Second, he has a tempestuous relationship with the Republican Party. The party's majorities in both houses of Congress confer tremendous power, but Congress and the executive will not be aligned on all aspects of foreign policy.

  • Data can fuel Africa's economic growth

    BOTSWANA, 2016/11/30 Africa is home to some of the world’s fastest-growing economies and one of the majority promising regions for international investment . This increase could be accelerated by addressing a fixable problem: lack of good data. Reliable, accessible data plays a critical role in any economy. Investors require data before making decisions, and the additional complete and up-to-date the data, the better their willingness to invest. Data as well helps public officials make sound decisions that promote increase and innovation, and enables citizens to hold government and business accountable.

  • South Africa’s economic growth revised

    SOUTH AFRICA, 2016/11/23 The country’s economy had been revised to grow at a rate of 0.5% in 2016, said Finance Minister Pravin Gordhan in his Medium Term Budget Policy Statement (MTBPS), tabled on Wednesday in Cape Town. But Gordhan expected South Africa’s economic increase to rise to 1.7% in 2017. “If we do the right things to support investment and confidence, our economic recovery will be additional rapid,” he said.

  • In Key African Nations, Widespread Discontent With Economy, Corruption

    AFRICA, 2016/11/23 Just over a year ago, the United Nations agreed to an ambitious agenda for bettering the lives of people around the world – the Sustainable Development Goals (SDGs). The SDGs call for countries to improve across 17 issue areas, including economic growth, accountable institutions and reduced inequality, among others. While the target for achieving the SDG goals is not until the year 2030, the publics in three major African nations are increasingly concerned about some key development issues. At the same time, they express considerable optimism about the future.
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