Category archives for: Business

Remittance Income Boosts Growth

by EMMA OKONJI Despite experiencing an overall market slowdown, countries across the continent are reported to have a positive economic outlook. Countries in the East African region are projected to grow by 6.3% due to inflows, with remittances serving as a key economic driver for most countries across all regions. The third quarter 2018 report […]

Djibouti Commissions $3.5 Billion Chinese-built Free Trade Zone

by ABDOURAHIM ARTEH Djibouti commissioned a $3.5 billion, Chinese-built free trade zone on Thursday, deepening ties with the Asian giant and helping the Horn of Africa nation generate more jobs for its youths. Djibouti, with a population of 876,000, already hosts Chinese, U.S. and French naval bases and it also handles roughly 95 percent of […]

Ivory Coast eyes bio-mass power generation from cocoa waste

The world’s top cocoa producer Ivory Coast plans to build a 60 to 70 megawatt (MW) capacity biomass power generation plant running on waste from cocoa pods, part of its aim of developing 424 MW of bio-mass power generation capacity by 2030. The plant, which will enable Ivory Coast to diversify its electricity generation sources, […]

Africa Hotel Sector Offers Potential for Further Growth Over Next 5 Years – PwC

Africa’s hotel sector has the potential for further growth over the next five years, with an increase in the number of foreign and domestic travellers, as well as an expansion in a number of hotel chains on the continent reinforcing the industry’s untapped potential, a report by PricewaterhouseCoopers showed on Thursday. PwC’s eighth edition of […]

Listening to Africa’s Future Farmers

by ROSELYN MUGO Africa is in the midst of a youth employment crisis. By 2035, some 350 million new jobs will be needed, and agriculture, the continent’s biggest industry, could provide the bulk of them. But at the moment, young Africans are shunning life on the farm for work in the city. If Africa’s employment gap is to be closed, agribusinesses must find ways […]

Kenya Airways Seeks to Run Main Nairobi Airport to Boost Earnings

by DUNCAN MIRIRI In 2018, about $40 billion will be Kenya Airways (KQNA.NR) is close to winning approval to run the country’s main airport in Nairobi, looking to copy a model that has enabled rivals to overtake it, its chairman said on Monday. Michael Joseph said the loss-making airline had proposed forming a special purpose vehicle with state-run Kenya Airports Authority (KAA) allowing the […]

Africa Used-Car ‘dumping ground’ Puts Motor Industry at Risk

by DAVID FURLONGER The West used coal to power its Africa will never develop a sustainable motor industry as long as it remains a “dumping ground for substandard cars”, says Martyn Davies, head of the African automotive division at business consultancy Deloitte. Car sales across most of Africa are dominated by cheap used vehicles from northern hemisphere countries. SA is almost alone in sub-Saharan Africa […]

Industrialisation the Pathway to Prosperity for Africa

by SIPHELELE DLUDLA Afreximbank, the prime Export-Import African bank, has said that the intra-Africa trade fair set to be held in Egypt later in December will be an opportunity for the continent to industrialise. Kanayo Awani, managing director of Intra-African trade initiative at Afreximbank, said that one of the aims of the trade fair is to deal with failing industrial and manufacturing growth in the […]

Ethiopian Airlines Revises its 15-Year Strategic Plan

Ethiopian Airlines has announced plans to revise its ambitious 15-year strategic plan from 2010, which called for the airline to become the largest carrier in Africa by 2025. While the airline’s initial plan outlined a strategy to more than double its fleet to 120 aircraft within the review period, Ethiopian Airlines has already fast approached a fleet of 100 planes at the half-way mark. […]

Ghanaian entrepreneur poised to make waves in cosmetics products

by KOFI AYIM Isaac Kusi has known the benefits of shea butter for a very long time in his native Ghana. He also knew that the thick paste of shea butter commonly found in northern Ghana would assume international status within a matter of years. In 1988 he started to import finished products of shea butter from Germany and distributed them to select outlets […]

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