The Speaker, Lagos State House of Assembly, Mr Mudashiru Obasa, has said that the state, Nigeria’s most populous and its economic heartbeat, remains a prime destination for foreign investors, considering its improved infrastructure and secured environment. Obasa made the assertion when a delegation of German parliamentarians paid a courtesy call on him in his office at Ikeja on Monday, 31 …
Read More »Mauritius, Rwanda, South Africa make doing business easier, says new World Bank report
WASHINGTON, 25 October 2016 – Sub-Saharan Africa economies carried out a record number of reforms in the past year to improve the business climate for local entrepreneurs, says the World Bank Group’s annual ease of doing business report. “Doing Business 2017: Equal Opportunity for All,” released today, finds that 37 of the region’s 48 economies adopted 80 reforms in the …
Read More »Abuja hosts inaugural Nigeria Mining Week
A series of events, including exhibitions, conferences and workshops, dedicated to the mining industry in Nigeria takes place in the capital city Abuja from 25-27 October. Minister of Mines and Steel Development, Dr Kayode Fayemi, will deliver the welcome address at the inaugural Nigeria Mining Week. Mining is being reactivated by the administration of President Muhammadu Buhari to play a …
Read More »Nigeria’s President Buhari seeks closer business ties with Germany in Berlin
During an official state visit to Germany, President Muhammadu Buhari called for closer economic ties. But faced with an economic downturn in Nigeria, German companies point to major hurdles to investment, reports Naomi Conrad. In the end, it took two attempts: As Chancellor Angela Merkel struggled to pronounce Muhammadu Buhari’s name at a joint press conference in Berlin, the Nigerian …
Read More »Nigerians point way forward for their country in Hamburg
Amid the gloom of recession and a tightening of belts in the homeland, Nigerian academics, business people and other professionals met with German companies to discuss ways of forging ahead in Hamburg, reports Michael Nnaji. Nigerians living in Germany gathered in the port city of Hamburg recently to parley on what the great Nigerian writer Chinua Achebe once described as …
Read More »Modern Railway linking Ethiopia to Djibouti opens
A $3.4 billion Chinese-built railway linking the Ethiopian capital Addis Ababa and the port city of Djibouti has opened, a boost to both African countries’ economies and an important milestone for Chinese investments in Africa. The new 750-km line, which completely replaces a long-defunct French line built in the early 20th century, will reduce travel time between the two cities …
Read More »US-Africa Business Forum 2016
The United States Chamber of Commerce and the Bloomberg Philanthropies co-hosted the US-Africa Business Forum in New York on 21 September. The forum played host to African business and political leaders and their American counterparts. Development in Africa is really shaping up, as more trade partnerships are being made with several global investors and stakeholders towards evolving the continent’s image, …
Read More »“Let us come together in Hamburg,” NIDO president invites Nigerians in Germany
The president of the Nigerians in Diaspora Organisation (NIDO) Germany, Kenneth Gbandi, has called on his compatriots to turn out in large numbers at the forthcoming 4th Nigerian Business & Investment Summit scheduled for 30 September and 1 October in Hamburg. The event, part of the activities of the NIDO Germany Day 2016 to mark Nigeria’s 56th independence celebrations, will …
Read More »What German companies found during a recent exploratory visit to DR Congo
Cologne-based business lawyer Christophe Kabambe accompanied a German business delegation on an exploratory visit to the Congolese city of Lubumbashi. He reports on the revelations of the journey. A delegation of German businessmen recently visited the city of Lubumbashi in the deep south of the Democratic Republic of Congo (DRC) in June. Lubumbashi, with an estimated population of more than …
Read More »Nigerians in Germany to deliberate on the way out of their country’s economic crisis | 30 September-1 October
The German chapter of the Nigerians In Diaspora Organization (NIDO) will hold its annual summit in Hamburg on 30 September-1 October. The event will feature a business conference and an award ceremony. The 4th Nigerian Business & Investment Summit is dedicated to discussions on the necessity for, and opportunities in, the diversification of the Nigerian economy, which is currently experiencing …
Read More »Sierra Leone ready for business again
Koroma woos foreign investors for post-Ebola growth Sierra Leone is still counting the costs of the Ebola epidemic, not least on its economy which contracted in 2014 and 2015, after several years of solid growth. Now the West African country is trying to woo back investors and attract new ones. Though Sierra Leone has been declared free of the dreaded …
Read More »Uganda’s President Museveni makes case for investing in Africa at the Business Day in Berlin
Afrika-Verein demands more action from the German government as Uganda’s President Museveni makes case for investing in Africa. The federal government must do more to encourage a greater engagement of German companies in Africa, demanded Dr Stefan Liebing, chairman of Afrika-Verein, at this year’s German Africa Business Day in Berlin. He called for the removal of hurdles preventing German companies …
Read More »What Africa can learn from Germany’s energy transition
How Africa can learn from Germany’s successful ongoing transition to renewable energy was the theme of the 10th German-African Energy Forum, which took place recently in Hamburg, reports Femi Awoniyi. Willi Meixner, chief executive of the Power and Gas Division of Siemens AG, has advised African countries to focus on creating an encouraging regulatory environment if they are to attract …
Read More »Russia plans $4.6bn investment in Egypt’s industrial zone
A number of leading Russian companies plan to invest US$4.6 billion to create an industrial zone next to the Suez Canal by 2035, Lenta.ru cites the Russian Trade Ministry in a new report. Most of the money will come from private investors. Russian companies Kamaz, GAZ, UAZ, Transmashholding, Gazprom Neft, Tatneft, Inter RAO and others will be part of the …
Read More »UK sanctions Cameroon timber traders for EU violations
The UK Authorities charged with enforcing the EU timber regulations (EUTR), have taken action against 14 UK importers sourcing timber from Cameroon linked to illegal logging.[1] Green Peace Press Release This news was presented at a Chatham House meeting in London on June 16, following comparable action by the Netherlands in early March, demonstrating that timber from Cameroon is coming …
Read More »Special Report: Money Transfer to Africa
Remittance business undergoes silent revolution Before Western Union started offering money transfer services to Africa in 1995, the first company to do so, it used to take weeks if not months to find somebody travelling home to take the envelope along. And the brave ones among us who hid money in mails were often unlucky after post office workers in …
Read More »President Mukherjee’s visit strengthens Indian-African economic ties
At the end of his three-nation African trip in June, Pranab Mukherjee, the Indian President, said: “We have, through these visits, conveyed the message that India takes its engagement with Africa seriously and intends to follow up with determination on the announcements made at the India-Africa Forum Summit. India is committed to further consolidate our cooperation with all African countries.” …
Read More »Why Ethiopia is on track to become Africa’s industrial powerhouse
Ethiopia seems to be attracting the attention of economists interested in Africa, and for good reason. Except for Rwanda, Ethiopia is the only African country whose economic growth has been consistently high for more than a decade without relying on a natural resource boom. Between 2004 and 2014, per capita growth in Ethiopia was 8% per year. This was the …
Read More »German development bank grants US$150 million loan to Africa Finance Corporation
Africa Finance Corporation (AFC) has announced its acceptance of a US$150 million 15 year loan facility from German development bank KfW. The loan agreement was signed on 22 June in London by Andrew Alli, CEO of AFC, and Jan Martin Witte, Head of Division for Infrastructure at KfW. The funds will be used to refinance projects across the corporation’s current …
Read More »INTERVIEW: Why Ghana is the best place to invest in Africa
Ghana is very serious about attracting foreign investment, says Mawuena Adzo Trebarh, chief executive of the Ghana Investment Promotion Centre (GIPC). During an exclusive interview with our correspondent Francis Sackitey in Accra recently, she talked about the incentives offered by her country, the preferred sectors for investment and the advantages of doing business in Ghana, among other issues. Why should …
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