Africa Economy

African Development Bank (AfDB) Headquarters Source: Reuters

Equatorial Guinea hosts AfDB’s meeting

Equatorial Guinea will host the African Development Bank’s next annual meetings coming up in June 2019. The hosting of the meeting is a fallout of the signing of a memorandum of understanding between the two parties. The Annual Meetings will take place from 11th to 14th June, 2019 in the country’s capital city, Malabo. “The […]

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L-R: President Muhammadu Buhari, President of Togo, Faure Gnassingbe;President of Niger, Mahamadou Issoufou; Ivory Coast President, Alassane Ouattara; and President of Ghana, Nana Akufo Ado, at the Economic Community of West African States summit on the creation of ECOWAS single currency in Niamey, Niger Republic... on Tuesday. Photo: State House

AU may soon launch single African currency to accelerate economic integration

As the Economic Community of West African States (ECOWAS) is still battling with teething problems of its age long pet project of single currency, the Africa Union (AU) may have seized the initiative to launch common monetary policy and single currency to accelerate economic integration of African countries. According to Ms Naglaa Nozahie, a Special […]

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Who is leading Africa’s digital infrastructure investment to enable the technology of the future

Leaders from MTN, C-Squared, Seacom and Convergence Partners discuss the critical issues ahead of their speaking roles at TMT Finance Africa in Cape Town 2019 CAPE TOWN, South Africa, March 7, 2019/ — Digital and broadband infrastructure investment is clearly one of the top priorities for Africa’s key telecom operators and investment firms in 2019. […]

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Ethiopian Airlines to operate daily flights to Eritrea

Ethiopian Airlines takes delivery of first B737 Freighter

Ethiopian Airlines has announced that it has taken delivery of its first B737-800 freighter, the first of its kind in the Ethiopian Cargo fleet mix, on March 01, 2019. Reacting to the delivery, Group CEO of Ethiopian Airlines, Mr. Tewolde GebreMariam, said, “We are excited to have taken delivery of the newest freighter a few […]

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African Development Bank (AfDB) Headquarters Source: Reuters

AfDB commences electricity cooperative feasibility studies in Nigeria, Ethiopia

The African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. The effort is part of the Bank’s goal of achieving universal electricity access across Africa by 2025, having realised that power shortages diminishes the region’s Gross Domestic Product (GDP) growth between […]

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Dakuku Peterside

NIMASA seeks multilateral cooperation on security of vessels

The Director-General, Nigerian Maritime Administration and Safety Agency, Dr Dakuku Peterside, has called for multilateral cooperation among African nations towards ensuring vessel safety and enhancing opportunities in the maritime sector. He stated this in Abuja recently while speaking on the topic, ‘Maritime Safety and Shipping Development in Nigeria: Challenges and Prospects,’ at the National Defence […]

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President Buhari today at the State House met with the President of the @ecowas_cedeao Commission, Marcel A. de Souza, and the Chairperson of the @_AfricanUnion Commission, @MoussaFakiMht #AsoVillaToday

ECOWAS request World Bank funding for $2bn Abidjan-Lagos expressway

The Economic Community of West African States has requested funding support from the World Bank for the construction of the 1,080km six-lane Abidjan-Lagos Highway. It stated that the $22.72 million mobilised by the European Union and African Development Bank was inadequate for the project which was expected to gulp $2bn. Making the request in Abuja […]

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Tony Elumelu Foundation, TEF

TEF supports Sèmè City – in empowering 50 Beninese entrepreneurs

Lagos, Nigeria 28.01.2019 – Sèmè City, the International Knowledge and Innovation City, has partnered with the Tony Elumelu Foundation (TEF), the leading philanthropic organization empowering African entrepreneurs to train and empower additional 50 Beninese entrepreneurs. Sèmè City will join a growing list of governments, development agencies and private sector organisations partnering with the Tony Elumelu […]

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Uba, Japan Trade Office Collaborate To Promote Msmes In Africa

UBA, Japan Trade Office partners to promote MSMEs in Africa

United Bank for Africa (UBA) Plc has indicated its readiness to support the Japanese government in its drive to promote Small and Medium Scale Enterprises across Africa. The Chairman, UBA Group, Mr. Tony Elumelu, indicated this on Monday, when the members of the Japan External Trade Organisation (JETRO), led by its CEO, Mr. Hiroyuki Ishige, […]

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Tony Elumelu at World Economic Forum in Davos

Davos 2019: Africa boosts free trade while global barriers go up

A new African free trade area could be just weeks away as the last few countries ratify an agreement signed last year. The plan to boost intra-African trade by half is gaining much attention in Davos this year. When you ask Tony Elumelu if Africa would profit from free trade, the Nigerian entrepreneur and philanthropist […]

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Tony Elumelu at World Economic Forum in Davos

Entrepreneurship is key for poverty eradication in Africa – Tony Elumelu

The founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has described entrepreneurship as a vital tool for eradicating poverty in Africa. More importantly, he stressed that entrepreneurship would get youths in the continent busy and keep them out of social vices as well as create employment opportunities in the continent. Elumelu, who is […]

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Nigerian-woman-selling-bread

13 African countries rank higher than Nigeria in Forbes Business ranking

Thirteen African countries have been ranked higher than Nigeria in Forbes Magazine’s Best Country for Business ranking for 2019. Nigeria emerged as the 110th Best Country for Business, below South Africa, ranked 59, Morocco (62), Seychelles (66), Tunisia (82), Botswana (83), Rwanda (90), Kenya (93), Ghana (94), Egypt (95), Namibia (96), Senegal (100), Zambia (103) […]

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