BUSINESS

More than 25 percent of development aid funds are not spent in developing countries, according to a new study, which shows that expenditure on refugees in Germany takes increasing share of overseas assistance. Researchers warn of the risks of this policy. A significant part of funds for development aid is spent by rich donors within their own borders. This is …

The SAP Quality Awards were established in 2005 as a means of recognising companies that have excelled in their use of SAP technologies to achieve digital transformation against a number of key metrics. This year, a total of 19 organisations from West, East and Southern Africa were recognised for their outstanding results across a number of successful implementations.

More than one hundred Human Resource (HR) Professionals have gathered in Accra for the 2019 Ghana HR Summit organised by Mercer, a global consulting leader in advancing health, wealth and career , in partnership with Learning Organisation Ghana to brainstorm on the future of work and how it will be created.  The two-day Summit which started on 13 August 2019 took …

Until now, used vehicles sold in most African countries are usually from Western Europe, United States and Japan. The announcement that China had joined the trade of supplying second-car cars to the continent is causing jitters among other exporters. The news came unexpectedly two days ago. The Chinese Ministry of Commerce announced that it had commenced the export of used …

A business association wants to lure German start-ups with millions of euros to the African continent. They should benefit from the economic upturn there. The Germany Africa Business Forum (GABF) wants to promote German energy start-ups with several million euros. This was announced by the private association, which has its offices in Berlin and Johannesburg. GABF co-founder Sebastian Wagner said: …

How to make African women more visible as entrepreneurs and not only as employees in Germany was the theme of the 10th Economic Forum of the Pan-African Women’s Day, which took place on Friday, 26 July at the Chamber of Commerce (IHK) in Potsdam, Germany. The Day (celebrated each year on 31 August) is also a contribution to the UN …

Rwanda took a big step forward in its quest for industrialisation on Monday when the first “Made in Rwanda” Volkswagen Polo rolled off the assembly line in the Kigali Special Economic Zone. President Paul Kagame, personally graced the “historic moment” and he expressed his delight to see German vehicles produced in his country. He described the event as “a pride …

The Nigerian government has agreed to a deal with the German energy company in an attempt to fix the country’s unreliable electricity grid. But will the agreement bring succour to Nigerians who have been suffering under inadequate power supply for decades? Ineke Mules of DW (Deutsche Welle) reports Nigeria has signed a six-year power deal with German energy giant Siemens, which …

Many organisations and individuals working on African issues presented their work to the public at the Fair for Bridge Builders (Messe der Brückenbauer), part of the activities celebrating the Kenako Afrika-Festival in Berlin (3-14 July). The fair is a platform for committed people from Germany and the African diaspora to exhibit their projects for the development of Africa and present …

Self-taught coder develops model for diagnosing breast cancer; looks to solve some of the continent’s biggest challenges and inspires youth across the continent as Africa Code Week Youth Ambassador for 2019. “It takes a village to raise a child”: as the Fourth Industrial Revolution sweeps across Africa and more of its youth develop coding and other digital skills, there may …

Afrolynk, an impact venture that supports and connects innovators, entrepreneurs and other stakeholders in the EU-African market, have partnered with Dr. Akuma Saningong, a master communicator, in unlocking the potential of African business ventures. Afrolynk will hold a Community Meet-Up on 10 July in Hamburg and it’s inviting attendees from Hamburg’s business sector, including start-ups, NGOs and public and private …

The Economic Community of West African States (ECOWAS) has adopted a single currency, named eco, to be launched by 2020. It’s one of the decisions of the 55th ordinary session of the Conference of Heads of State and Government of the group held on Saturday, 29 June in Abuja, Nigeria, in the presence of 13 of the 15 heads of …

German software company SAP and the German Federal Ministry for Economic Cooperation and Development (BMZ) plan to jointly create 450 jobs for highly qualified personnel in the IT sector in ten African countries. The collaboration, which was presented in Berlin today by German Development Minister Gerd Müller and by Michael Kleinemeier, member of the Executive Board of SAP SE and …

US-Africa Business Summit successfully advances trade, investment and commercial partnership between the US and Africa Heads of State, Vice Presidents, and Prime Ministers from nine African nations attended the Corporate Council on Africa’s 12th US-Africa Business Summit in Maputo, Mozambique on June 18-21. They were joined by Ministers of Finance, Foreign Affairs, Commerce, Economy, Public Works, and ICT from more …

Rwanda has opened its first gold refinery to process gold from all over Africa and to discourage the export of the minerals from the continent. The new refinery, built at a cost of $5 million by Aldango Company is located at the Kigali Special Economic Zone in Gasabo District. Aldango which was previously running as a business dealing in gold …

As a global trade war rages, Africa fears contagion from lower commodity prices, according to the Institute of Chartered Accountants in England and Wales (ICAEW) latest report, Economic Insight: Africa Q2 2019. The accountancy body provides GDP growth forecasts for various regions including East Africa, which is the region in Africa that was estimated to have experienced the most rapid …

The historic African Continental Free Trade Area agreement went into force on 30 May 2019. Creating the regionally integrated Africa of our dreams, will require political will, policy changes, and private and public sector partnerships, argues Dr Victor Oladokun, Director of Communication, African Development Bank. In 2018, the fictional country of Wakanda in the blockbuster movie Black Panther, was ranked …

How to make African-owned businesses in Germany more resilient and less prone to failure was the theme of one of the workshops held as part of the Africa Day programme in Dortmund on 24-25 May. The event, organised by AfricanTide Union, commemorates the founding of the Organisation of African Unity (now African Union) on 25 May 1963. Clément Klutse, a …

The first-ever Nigeria Diaspora Investment Summit took place in Abuja on 27-29 November. Vice-President Yemi Osinbajo, who delivered the keynote address at the event, and participating ministers outlined opportunities and incentives for Nigerians resident abroad to invest in their homeland. Nigeria’s Vice President, Prof Yemi Osinbajo, in his address to the conference, asserted that the federal government “strongly seek the …

Vice-President Yemi Osinbajo will pay a working visit to Germany on 9-11 December. He will meet with Nigerians, speak at a business event and hold talks with German leaders during the 3-day visit, which aims to promote Nigeria as a favourable place to invest. Prof Osinbajo will hold a town hall interactive meeting with Nigerians living in Germany on Sunday, …