BUSINESS

The global coronavirus pandemic is having a devastating impact on the economies of countries around the world. Africa is one of the regions worst affected as state revenues have taken a big hit. The structure of the continent’s external trade is to blame for the particularly harsh effect of COVID-19 on African countries, Khaled Sheriff, Vice President, Regional Development, Integration …

Across the globe, Africa is putting its spin on the fashion industry. Major fashion markets like Berlin are embracing African fashion, art and culture, and locally, the apparel market is worth USD$31 billion, according to estimates by Euromonitor International. While the African fashion retail industry remains in its infant stages, there has been notable progress in recent years as the industry embraces …

In view of the negative impact of the Covid-19 pandemic on international trade, a group representing German companies doing business with Africa has warned that the Corona crisis could reverse the continent’s economic successes of the past decade if counter measures are not taken. It’s calling on the German government to take concrete steps to stabilise German-African economic relations in …

The coronavirus pandemic is dealing a heavy blow to economies across the world with unemployment, especially among youths, soaring in most countries.  African youths are the worse affected, considering the situation of the continent even before the outbreak of the global health crisis. For example, whereas about 12 million young Africans enter the labour market every year, only 3 million …

An invitation has gone out to young people of African descent in Germany to participate in the Lead Academy 2020 via Zoom on 24-26 November. The event is organised by Lead Africa International e.V., a global non-governmental organization dealing with development issues. The three-day virtual event precedes the Global Partnership for African Development (G-PAD) 2020 Forum, with the theme Strengthening …

Africa has immense potential for photovoltaics which has barely been utilized up until now. But a pioneering spirit is spreading across the continent, with many countries paving the way for ambitious photovoltaics projects. This is the conclusion of the Intersolar Solarize Africa Market Report 2020, prepared by the Becquerel Institute and the German Solar Association (BSW-Solar) with support from Intersolar …

Business is booming in Africa, tipped as a continent to watch in the coming years. This is principally because African economies have experienced an influx of foreign investment interest and an explosion of local entrepreneurship in recent years. From the continent commanding the spotlight on solar energy to the businesses propelling the ‘Made In Africa’ label across the globe, the business world …

A total of 31.41 per cent of goods imported into Nigeria are from China, the National Bureau of Statistics (NBS) has reported. The NBS revealed in its latest report on ‘Foreign Trade in Goods Statistics’ for the second quarter of 2020, that Spain topped the list of Nigeria’s exported goods. “Nigeria’s imports, by country of origin, shows goods were imported …

When the coronavirus pandemic spread in early 2020, economies around the world closed down and most people were relegated to remote work. But for the young African professionals taking part in the latest AFRIKA KOMMT! programme, the pandemic brought the additional challenge of being in a foreign country and taking part in a highly competitive programme. According to Ilka Wiskemann, …

The African Continental Free Trade Area (AfCFTA) agreement was initially scheduled to enter into force in July 2020. As a result of the COVID-19 pandemic, the commencement of the implementation of the continental deal has been postponed until January 2021. NJ Ayuk*, international legal practitioner and founder of one of Africa’s most successful law chambers, explains why the global health …

“In many African countries, debt service payments take up more place in the budget than investments in education, health or social security. Not only do they lack the financial leeway to effectively tackle the corona crisis in their countries, but in the worst case, they are even threatened with national bankruptcy”

After Senator Johnston Arthur Sakaja’s recent brush with the law over flouting Covid-19 restrictions, the legislator has got back to doing what legislators do best. Drafting bills. His latest brainchild is the Kenyan Diaspora Startup Bill 2020. The bill has good intent but is weak in practice, argues David Monda.  The Kenyan Startup Bill 2020 is an innovative bill that …

Employees of African origin in Berlin’s tech companies have started a group to promote diversity in the sector. Called “Black in Tech Berlin”, the group networks and shares ideas to bring change in the industry, where Black people are underrepresented. It counts six hundred members and was founded by Kave Bulambo, who is originally from the DR Congo but grew …

A new magazine, published bimonthly and bilingual in English and German to serve self-employed Africans in Germany, was launched at a colourful ceremony on Saturday in the western German city of Dortmund. The African Merchant (TAM) would support African entrepreneurship by focusing on opportunities and challenges of self-employment in Germany, Dr Rosalyn Dressman, publisher of the new magazine, said at …

“Illicit financial flows rob Africa and its people of their prospects, undermining transparency and accountability and eroding trust in African institutions”

Kenya’s President Uhuru Kenyatta is currently on a visit to Paris to sign major agreements with French companies on water, infrastructure and energy and attend events to further Franco-Kenyan economic and political ties.. President Uhuru Kenyatta kicked off his 5-day official visit to France on Wednesday evening at Elysee Palace where he was received by his host, French President Emmanuel …

The publication of the magazine is a response to the increasing numbers of Africans entering self-employment as a defensive response to difficulties in accessing jobs commensurate with their qualifications and experience. Many are also establishing businesses to respond to market opportunities.

"All across Africa we’re seeing immense talent in the tech ecosystem, and I’m proud that with the upcoming opening of our new office, we’ll be building products for the future of Africa, and the rest of the world, with Africans at the helm. We look forward to contributing further to the African tech ecosystem.”

NJ Ayuk, founder of one of Africa’s most successful law chambers, supports the Senegalese leader's call on the G20 to help African countries balance their obligations to international creditors with their obligations to their own citizens in the face of the COVID-19 pandemic. He explains why debt relief is crucial to Africa's recovery from the economic fallout of the global health crisis

  As Africa starts its recovery efforts against the immense challenges caused by the Covid-19 pandemic, Pedro Guerreiro, Managing Director for Central Africa at SAP – the global leader in enterprise software,  takes a closer look at the continued economic success story of the East African region and argues why it is an example for how the rest of the …