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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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Improved liquidity, currency volatility can give Sub-Saharan Africa real estate markets a Boost
Real estate markets in Central and Eastern Europe (CEE) are seeing record levels of international capital inflow while a lot of markets in Sub-Saharan Africa are lagging behind.
The new JLL Capital Markets research has identified liquidity and foreign exchange volatility as two key reasons impacting real estate capital flows into Sub-Saharan Africa real estate markets.
A two-speed cycle appears to have evolved in emerging economies with some racing ahead and others lagging behind.
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Africa's Infrastructure Spending Drops
Africa's infrastructure investment spending decreased in 2016 compared 2015, according to Deloitte 2016 African construction trends statement.
In 2016, 286 projects worth 50m and additional were being built in Africa, down from 301 in 2015. The fall in in general capital price was $51bn — from a total of $375bn in 2015 to a total of 324bn in 2016.The statement, released on Tuesday, said there were 109 projects worth a total of $140bn in Southern Africa in 2015. For 2016, project numbers had fallen to 85, worth $93bn.
“Africa has seen a downturn in both the number and price of projects included this year, in contrast to previous years,” said Jean-Pierre Labuschagne, Deloitte Africa infrastructure and capital projects leader.
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- Key Facts
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Central Africa is a core region of the African continent which includes Burundi, the Central African Republic, the Democratic Republic of the Congo. Middle Africa (as used by the United Nations at the same time as categorising geographic subregions) is an analogous term that includes Angola, Cameroon, the Central African Republic, Chad, the Republic of the Congo, the Democratic Republic of the Congo, Equatorial Guinea, Gabon, and São Tomé and Príncipe. All of the states in the UN subregion of Middle Africa, plus those otherwise commonly reckoned in Central Africa (11 states in total), comprise the Economic Community of Central African States (ECCAS).
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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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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.
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Congo Democratic Republic Security and stability concerns continue to limit commercial opportunities
2017/05/08Congo Democratic Republic
Security and stability concerns continue to limit commercial opportunities
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Congo Another major African oil exporter facing headwinds
2017/05/08Congo
Another major African oil exporter facing headwinds
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Cameroon Growth is here, but you could have it so much better
2017/05/08Cameroon
Growth is here, but you could have it so much better
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Angola Angola struggles with contingent liabilities
2017/05/07General Information
GDP USD102.6bn (World Ranking 59, World Bank 2015) Population 25 Million (World Ranking 51, World Bank 2015) Form of state Republic Head of government Jose Eduardo DOS SANTOS Next elections 2017, legislative -
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.
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Gabon Year in Review 2016
2017/01/14An 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.
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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.
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Economic and Financial Strategies against Africa
2016/11/23Other 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.
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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.
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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.
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Sub-Saharan Africa: importance of institutions for developing food and agriculture value chains
2015/12/05Despite its huge food and agricultural potential, Sub-Saharan Africa’s agricultural production has barely kept up with people increase as productivity increase has lagged behind. Over the completed decades the region has become a net food importer. Food and agricultural trade deficits are on the rise, posing risks to food security. Conference this challenge requires the region to develop its role in food and agricultural price chains.
It should move from predominantly smallholder production for informal markets and export of (agricultural) commodities to adding additional price at different stages in the price chain. Possibilities for doing so depend crucially on climatological and soil circumstances and on the presence of enabling factors. The degree to which nations provide an enabling environment differs largely across the region, and is strongly linked to nations’ in general institutional development, as is shown by investigating a set of relevant indicators.
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Mr. Ramón Mituy Abaga Nkene, Director General of Forestry and Reforestation, Equatorial Guinea
2015/04/26Mr. Ramon Mituy Abaga Nkene speaks about Guinea’s forests and the two segments it is composed of: production and processing and conservation and protection.
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Gabon Year in Review 2014
2015/01/09While diversification is a key objective for Gabon under the Gabon Emergent strategy, 2014 saw the country moving to increase commodity production, which in turn has helped sustain robust headline increase even amidst a challenging fiscal environment.
The signing of seven new licences in 2014 marked a critical step for Gabon’s hydrocarbons sector, which represents over 50% of total government revenue. Prospects for the mining industry – a key source of exports – as well improved, following the launch of a number of new downstream projects.
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Mobile money fails the test for emergency relief in DRC
2014/12/22Despite the hype around mobile money’s rapid uptake across Africa, in a new study e-vouchers outperformed mobile money - and in a lot of cases physical cash - as the majority effective means of disbursing assistance in emergency settings.
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President Kabila Must Respect the Constitution and Not Seek a Third Term
2014/10/18There is currently one question dominating political debate in the Democratic Republic of the Congo (DRC): Will President Kabila change the constitution and seek a third term or abide by its current terms? This question is of great relevance to Congo's nascent democratic process, initiated in 2006 with the material, financial, and political support of the international community.
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Gabon signs seven oil production-sharing deals
2014/09/14Next months of negotiations, Gabon signed seven exploration and production-sharing contracts in August, which it hopes will spur new exploration in deep-water offshore blocks and generate up to $1.1bn in new investment , according to estimates from Gabon’s oil ministry.
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Renaissance in Sub-Saharan Africa
2014/02/06Risk of external shocks not averted
With an economic increase of 6 % estimate for 2014, sub-Saharan Africa continues to challenge the weak world economy. “The international financial crisis has scarcely affected the region,” is the conclusion reached in a new study by Commerzbank.
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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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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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Barry Coatzee
2013/01/14Since 1998 iVeri has been in the forefront of electronic payment technology in Africa. It is the longest is PCI DSS Level One certified entity in Sub-Saharan Africa, having received its third certification in a row. Recently, the company launched mPress, a new payment product specially designed for small businesses.
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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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Domingos Francisco, General Director of Angola’s National Petroleum Institute
2013/12/10The oil sector has a strong influence on the development of Angola and Africa. What does Angola mean to this continent in comparison with other nations in Africa?
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