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Billions of dollars in remittances flowed to Africa in 2017. The money could go further if it wasn’t more expensive to send money to Africa than anywhere else in the world, a new World Bank study finds. Immigrants sent a $38 billion (€31.1 billion) back home to Africa in 2017, according to a new World Bank briefing paper. Nigeria accounts …

AfricanTide Union, an organization that runs a refugee shelter and multiple programs for migrants and refugees in Dortmund, Germany, inaugurated its latest project on Monday, 9 April. Under the name “Friend”, the association now offers regular training for entrepreneurs with a migration background. “People with a migration background are quick to take entrepreneurial risk. However, it often comes to the …

Political and business leaders from Germany and Africa will gather at the Hamburg Chamber of Commerce on 24-25 April for the 12th German-African Energy Forum. The annual event offers a platform for players in the energy sector for interaction, networking and deal-making. The event this year will focus on the increasing role of renewable energies in the African continent’s electricity …

According to the latest Africa Investment Index 2018 by Quantum Global Research Lab, an independent research arm of Quantum Global, Morocco has been named the most attractive investment destination in Africa, followed closely by Egypt and Algeria. ‘‘Morocco has been consistent in attracting an inward flow of foreign capital, specifically in banking, tourism and energy sectors and through the development …

Representatives of 44 out of 55 member countries of the African Union have signed an agreement on the African Continental Free Trade Area at an extraordinary AU Summit in Kigali. The African Continental Free Trade Area Agreement (CFTA ) could enter into effect by the end of this year following signing by 44 countries yesterday at the 10th extraordinary African …

Founding Women is a collection of the inspirational, first-hand accounts of 20 African women who are defying the odds to build successful businesses in technology on the continent. Among the successful entrepreneurs interviewed in the book are Rebecca Enonchong – CEO of AppsTech ( Forbes 10 Female Tech Founders To Watch In Africa) and Hilda Moraa – Founder & CEO …

Zimbabwe is on the verge of new riches as it pledges to significantly increase its production of lithium used in batteries for electric vehicles. If its production potential is realized, the metal will bring the African country fabulous wealth, say analysts. Zimbabwe aims to supply 10 percent of the world’s lithium and could reach 20 percent, the mines minister from …

Nigerians are getting poorer despite the country’s slow recovery from recession, and economic reforms are urgently needed, the International Monetary Fund (IMF) said in a report seen by Reuters on Wednesday. The Fund expects the government to “muddle through” in the medium term, and any progress could also be threatened if elections next year consume political energy and resources, the …

The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, says Africa must build value-added, industrialised economies with modernised agriculture, which takes full advantage of the digital revolution, if she is to create wealth and prosperity for her peoples. Akufo-Addo made this known on Tuesday, 27 February when he delivered the keynote address at the 5th German-African Economic Forum, …

Google Play apps and games store has started accepting payments in Kenya through Safaricom’s mobile phone M-Pesa service to boost downloads in a market where many people do not have a credit card. M-Pesa, which enables customers to transfer money and pay bills via mobile phone, has 27.8 million users in the nation of 45 million people where Google’s Android …

The economy of many African countries are booming. How can German small and medium enterprises profit from this success? The 5th German-African Business Forum  NRW (das 5. Deutsch-afrikanische Wirtschaftsforum NRW) will deal with this question on Tuesday 27 February 2018 in the western German city of Dortmund at which President Nana Akufo-Addo of Ghana will deliver a keynote speech. Under …

Landing of South Atlantic Undersea Cable in Brazil signals new chapter in Africa-America’s Telecoms Angola Cables, a telecommunications multinational, has reported that the South Atlantic Cable System (SACS) has made landfall at Fortaleza on the Brazilian coast. Company CEO, António Nunes, said that the arrival and installation of SACS on the Brazilian coast was “an important strategic milestone for the …

Namibia has as once again been accorded the top position of having the best roads in Africa by the World Economic Forum (WEF). The results were released via the WEF’s Global Competitiveness Report for 2017/18, which tracks the performance of approximately 140 countries on 12 pillars of competitiveness, including the quality of road infrastructure development. The development of road infrastructure …

Britain’s Export Finance Agency will add the naira to its list of “pre-approved currencies”, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency. The naira will become one of three West African currencies that UK Export Finance has pre-approved for its programme of funding transactions that promote trade with Britain, it said. Britain voted …

DHL Global Forwarding, a leading provider of air, sea and road freight services, has appointed Agnaldo Laice and Maureen Adibuah as Country Managers in Kenya and Nigeria respectively. Both of them are industry veterans who possess strong local market knowledge and have been with DHL for almost two decades – having risen through the ranks in different portfolios. They will …

The Super Eagles’ 2018 World Cup kits have been unveiled by Nike and the Nigeria Football Federation (NFF). Nike is the official kits sponsor of Nigeria’s national teams. The sportswear manufacturer presented the kits to the NFF at a ceremony in London on Wednesday. The Super Eagles’ World Cup jersey was modelled by Arsenal forward Alex Iwobi while Sophia Omidiji …

Official figures released on Wednesday show that Germany’s unemployment rate has hit a record low. December’s unemployment rate was 5.5 per cent, the lowest level since German reunification in 1990, the Federal Employment Agency (Bundesagentur für Arbeit or BA) said. In 2017 as a whole, the jobless rate fell to 5.7 per cent or just over 2.5 million people, from …

African presidents have reached a strong consensus to focus on regional integration, inclusive growth and youth empowerment in order to achieve continued and sustained growth on the continent at the Africa 2017 Forum in Sharm El Sheikh, Egypt. President Abdel Fattah Al Sisi of Egypt hosted African heads of state and business leaders including President Alpha Condé of the Republic …

A 709 carat uncut diamond discovered in March 2017 in Sierra Leone fetched a lower-than-expected $6.5m at a New York auction on Monday (4 December). The stone was found by diggers working for Pastor Emmanuel Momoh in Koryardu, located in the country’s eastern Kono district. It is one of the largest ever discovered in Sierra Leone and the 14th largest …

Five African teams were part of 32 others entered into a draw for the group stages of the 2018 World Cup in Russia on Friday. The five African teams are Senegal, Egypt, Morocco, Nigeria and Tunisia. It turns out that from the final draw, Morocco and Nigeria will not have it easy in their respective groups as they face top …