Category archives for: Business

Millions Invested But Significant Gold Mining Underexploited in West Africa

Mining companies have invested at least $5bn towards gold exploration in West Africa in the past decade but significant reserves are underexploited, mineral industry experts say. Delegates at the Ecomof mining and petroleum forum in the Ivory Coast commercial capital Abidjan were told that more must be done to attract international investors to develop mining […]

China Buys Up East Africa Soybean

The effects of the trade war between the US and China have spilled over into East Africa as Beijing starts looking to the region as one of its alternative soybean sources. China’s interest has caused a soybean shortage and an increase in prices, with processing companies like African Improved Foods (AIF) in Rwanda, which import […]

Ethiopia Overtakes Dubai as Top Feeder of Air Traffic to Africa

Ethiopia has overtaken Dubai as a conduit for long-haul passengers to Africa, highlighting the success of the state airline’s expansion drive and the reforms of its new prime minister. Travel consultancy ForwardKeys said on Wednesday Addis Ababa airport had increased the number of international transfer passengers to sub-Saharan Africa for five years in a row, […]

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 […]