BUSINESS

German Chancellor Angela Merkel has called for more private investment in Africa as she hosted African leaders as part of a concerted effort to drive the continent’s economic development and create jobs for its millions of unemployed youths. In her opening address on Tuesday at the G20 Compact with Africa Summit, taking place in Berlin on 30-31 October, Merkel said …

William Ijeh, a senior official of the International Telecommunication Union (ITU), is vying for one of the global organisation’s top positions at the ITU Plenipotentiary Conference 2018, taking place in Dubai from 29 October-16 November. Mr Ijeh, a Nigerian national who has worked with the Geneva-based ITU for 21 years, is a candidate for the post of Director, Bureau of …

Presidents and heads of government of eleven African countries are to participate at the G-20 Compact with Africa (CwA) conference, hosted by German Chancellor Angela Merkel in Berlin. The event, Investment Summit-German Business and the CwA Countries, taking place on 30-31 October brings together “reform-minded” African countries, international organizations and bilateral partners from the G20 to advertise investment opportunities in …

More than 200 Nigerians in the Diaspora have indicated interest to participate in the maiden Nigeria Diaspora Investment Summit (NDIS) slated to hold on 27-29 November in Abuja. This was revealed by Hon. Abike Dabiri-Erewa, Senior Special Assistant to the President on Foreign Affairs and Diaspora, at a joint news conference with other stakeholders in Abuja on Monday (15 October). …

President Muhammadu Buhari has signed a new executive order which among other things compels Nigerians with assets outside the country to pay taxes on them. The Executive Order (008), tagged Voluntary Offshore Assets Regularisation Scheme (VOARS), was signed by the President on Monday and takes effect from the same day, the Presidency said on Wednesday, 8 October. According to a …

Nigerians in Diaspora Organisation Europe (NIDOE) will hold its Annual General Meeting (AGM) on 8-10 November in Vienna, Austria. In addition to addressing issues of concern to Nigerians in diaspora, the event will discuss the outcome of the first-ever Nigerian Diaspora Global Project & Investment Summit UK, which took place in July 2018 in London. The objective of the conference …

Do you have an ingenious idea, courage, energy and passion? German Founders and Entrepreneurs Days (Die Deutschen Gründer- und Unternehmertage or deGUT) 2018 is the place to be as you will have access to expertise and information on what it takes to establish your own business. From defining your idea to issues of financing, marketing and sales – this event, …

The President of Ghana, Nana Addo Dankwa Akufo-Addo, says his government, over the last 21 months, has ensured stability and adequate supply of power in the country, in the place of the erratic power situation that it inherited. Speaking at the Financial Times Africa Summit, in London, on Monday, 8th October, 2018, President Akufo-Addo indicated that his government, over the …

Senegal’s international music star Akon is planning a solar investment programme for Sierra Leone as part of plans to support the government of President Julius Maada Bio. Akon, real name Aliaume Damala Badara, met with the president in the United States on the sidelines of the ongoing United Nations General Assembly, UNGA. Local media reports that his investment will comprise the …

The Commercial Bank of Ethiopia (CBE) has launched a scheme under which it will grant mortgage loans to nationals in the diaspora. The bank in a statement issued on Friday (5 October) said the loan targets non-resident Ethiopians and foreign nationals of Ethiopian origin. CBE chief Bacha Gina said the product was part of the bank’s vision to serve and …

A robust manufacturing sector is broadly understood as a fundamental path to economic growth and development. Despite their manufacturing potential and promising trajectories, most African countries have remained relatively dearth of factories, writes Professor Landry Signé. How to unlock the manufacturing and industrialization potential in Africa? The United Nations General Assembly has proclaimed the Third Industrial Development Decade for Africa …

Despite an economic slowdown, most African countries are reported to have a positive economic outlook. This is according to ICAEW’s (the institute of Chartered Accountants in England and Wales) latest report, In Economic Insight: Africa Q3 2018. The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, provides a snapshot of the region’s economic performance. The regions …

Leading international money transfer company WorldRemit has launched a new digital service within Africa, making it easier to send and receive money across the continent. The new digital service will reduce the cost of sending money across borders. The prohibitive charges that individuals and businesses pay to transfer money within Africa are recognised as a major obstacle to the growing …

The UK Government has announced a new £70-million programme to create 100,000 jobs in Nigeria, says the Minister of State for Africa, Harriett Baldwin. Baldwin said this during a business event as part of the activities for Prime Minister Theresa May’s visit to Nigeria on Wednesday. Baldwin, who led a business delegation to the event, said that the programme would …

At the recent Nigerian Diaspora Global Development Conference in London, government officials and business people from Nigeria exchanged ideas and experiences with the country’s nationals living abroad on how the Diaspora can better contribute to national development. Under the theme “Supporting the Development Roadmap for Nigeria”, the 3-day (26-28 July) event looked at the challenges confronting the country and identified …

With its sponsorship of and active participation in the recently-concluded Nigeria-Austria Business Forum and the Nigerian Cultural Festival 2018 in Vienna, Austria, Ecobank Nigeria Plc seek to consolidate its leadership position in Diaspora banking services. A member of Ecobank, the leading independent pan-African bank, headquartered in Lomé, Togo, Ecobank Nigeria has been active in Diaspora banking activities in the West African region for …

The leaders of Brazil, Russia, India, China and South Africa have a series of ambitious plans as South Africa hosts the 10th summit of the BRICS bloc in Johannesburg. Martina Schwikowski reports. South Africa’s government is hosting the tenth BRICS annual summit in Johannesburg on July 25-27, 2018. The Summit will be held under the theme: “BRICS in Africa: Collaboration for conclusive Growth …

Social media giant, Twitter Inc., has announced the appointment of Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala, to its board of directors. Also appointed is former World Bank chief, Robert Zoellick, as the microblogging site reshuffled its board, Twitter said Thursday. According to the Executive Chairman of Twitter, Omid Kordestani, Okonjo-Iweala would be an incredible asset for the company as …

Nigeria-Austria Business Forum 2018 took place recently in Vienna and was attended by businesspeople from countries and Nigerian government officials, including Governor Willie Obiano of Anambra State. The second Nigeria-Austria Business Forum took place on 28 June 2018 in Vienna, Austria, and it was dedicated to deepening trade ties between both countries. The event was jointly organised by the Embassy …

French President Emmanuel Macron offered a bold and new vision of France’s relationship with Africa, speaking at an exclusive session hosted by the Tony Elumelu Foundation in Lagos during his visit to Lagos last week. He passionately advocated a new partnership, prioritizing the role of entrepreneurship in driving Africa’s renaissance, highlighting the importance of the private sector and most importantly …