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Germany’s ‘Marshall Plan’, which calls for an equal partnership to industrialize Africa, has received positive feedback among African business leaders at the World Economic Forum in Davos, which took place from 17-20 January. But some are a bit wary, reports Martina Schwikowski. Germany’s Marshall Plan with Africa has received a lot of praise but also criticism. Some call the economic plan too …

The Federal Government of Nigeria and General Electric (GE) are in talks over the planned concession of railway projects in the country on the basis of Public Private Partnership. “We are negotiating with GE to take over the narrow gauge from Lagos to Kano-Funtua-Yobe, and from Port Harcourt to Borno,” Nigeria’s Minister of Transportation, Chibuike Rotimi Amaechi, has said. He …

The International Green Week has opened today in Berlin. The exhibition, which is the world’s biggest fair for food, agriculture and horticulture, will run until 29 January. In a total of 26 exhibition halls, about 1,500 national and international exhibitors present typical regional products and services and invite visitors to discover the world’s foods and other treats. The International Green …

German Development Minister Gerd Müller has presented his long-awaited new Africa strategy. He’s proposing a new level of development cooperation, as Daniel Pelz reports from Berlin. Fighting poverty in Africa is not just a moral obligation, but also in the self-interest of wealthy countries like Germany, German Development Minister Gerd Müller said as he presented his long-awaited “Marshall Plan” for Africa in …

17 January 2017, Davos-Klosters, Switzerland – Chinese President Xi Jinping delivered a robust defence of globalization to business, government and civil society leaders in the opening plenary session of the 47th World Economic Forum Annual Meeting. China, Xi said, is committed to fulfilling its international responsibilities and contributing to addressing pressing global challenges, including climate change, the need for new …

The 2nd German-African Business Summit (GABS) will take place in Nairobi, Kenya from 8 to 10 February 2017. The first edition of the event, which took place in Berlin in September 2015, provided a forum for some 400 participants from the worlds of business and politics, from Germany and Africa, to discuss Africa’s prospects and potential and to make new contacts. …

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos. The eight individuals named in the report are Bill Gates, Inditex founder Amancio Ortega, veteran investor Warren Buffett, Mexico’s Carlos …

A recently published study on the long-run effects of mobile money on economic outcomes in Kenya provides some valuable insights that will benefit economic development and financial inclusion policies across Africa.

JOHANNESBURG, South Africa, 21 December 2016,-/African Media Agency (AMA)/- Check Point, the largest global pure-play network cybersecurity vendor, has revealed that five African nations were among the top 10 most-attacked countries in November as cybercriminals made increasing use of ransomware attacks using the Locky and Cryptowall viruses. Botswana was the most-attacked country in Check Point’s list of 117 at-risk nations, …

Nigeria’s Finance Minister, Kemi Adeosun, has announced on Tuesday that the federal government had instructed the Central Bank to eliminate currency black market, where foreign currencies fetch more naira than the official rate. “The CBN has promised to do something by putting a system in place to eliminate the black market because it’s damaging the economy,” Ms Adeosun told a …

James Shepherd, Managing Director, Aggreko Africa, on how his company is partnering with the government of Zimbabwe to solve the country’s energy crisis caused by extended drought in the region. There are parts of Zimbabwe where consistent drought is putting intolerable pressure on local communities. Indeed, many rural areas are in difficulty thanks to the impact of the extreme weather, …

The Federal Government of Nigeria has banned the importation of vehicles into Nigeria through the land borders. The ban takes effect from 1 January 2017. According to a statement by the Public Relations Officer of the Nigerian Customs, Wale Adeniyi, “The prohibition order covers all new and used vehicles.” He added, “The ban is sequel to a Presidential Directive restricting …

Njideka Harry, in commemoration of this year’s Women’s Entrepreneurship Day, writes on how Youth for Technology Foundation in partnership with Mastercard supports two women’s journey to self-fulfillment and financial freedom in Africa’s most populous country. Statistics show that female entrepreneurs in Africa serve as the backbone of the economy and have the power to drive incredible growth. A Global Entrepreneurship …

Struggling with a shortage of cash Zimbabwe has introduced a new currency, a “bond note”, redeemable against US dollars, which has been the country’s official currency since 2009. However, many people fear the bond note will wipe out savings and trigger printing of money, which raged out of control in 2008, leading to the adoption of the dollar. The secrecy …

On 15 and 16 November, the 9th session of the German-South Africa Binational Commission took place in Berlin. High ranked representatives from both countries come together every other year to debate on global challenges and establish an agenda for future joint co-operation. The Binational Commission (BNC) is an important instrument to steer intra-governmental relations between Germany and South Africa. On …

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 …

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 …

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 …

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 …

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 …