Category archives for: Business

AXA Buys 8% Stake In Africa Internet Group For €75m

French insurance giant AXA announced today it is investing €75-million to take a 8% stake in Africa Internet Group (AIG), one of the continent’s largest e-commerce operations. Jumia is AIG’s main subsidiary and operates in 11 African markets. Transactions grew 265% during the first nine months of 2015 to reach €206-million, AIG said. AXA will […]

Where Blackouts Shake Up Elections, Renewables Seek the Benefits

by Anna Hirtenstein More than a quarter of the African nations south of the Sahara Desert have presidential elections this year, and renewable energy developers could stand to benefit. The region has the world’s biggest concentration of people — more than 620 million according to the International Energy Agency– living without reliable electricity supplies. From […]

Using Life Insurance To Jump-Start Your Financial Future (Part Two)

By: Dr. Peter Ikre The August edition marked the commencement of a series of articles on financial planning tailored toward furthering the empowerment and emancipation of immigrant communities particularly those of African origin from the menace of financial subjugation. In case you missed the previous publication, I highlighted the need for individuals and families to […]

Dangote Cement seeks licence for 75 MW power plant in Tanzania

Dangote Cement has applied for a licence to build a 75 megawatt coal-fired plant in Tanzania that would power a $500 million cement factory now under construction, Tanzania’s energy watchdog said. Sub-Saharan Africa’s leading cement producer plans to roll out plants across Africa to reach an annual capacity of 62 million tonnes by 2017, up […]

Coca-Cola Nigeria sued for half-empty cans

NIGERIA is taking Coca-Cola to court for allegedly refusing to comply with orders from the Consumer Protection Council over two half-empty cans of Sprite. ATTORNEY General Mohammed Bello Adoke filed suit at the Federal High Court in Abuja on Monday against Coca-Cola Nigeria and its chief executive for criminal breach of the Consumer Protection Act. […]

Africa: Bank of America Merrill Lynch Embarks On Search for African Talents

By Eromosele Abiodun In a bid to give African graduates and undergraduates the exposure that will prepare them for better job opportunities in developed countries of Europe, Asia and the Americas, Bank of America Merrill Lynch has embarked on a search for undergraduates in Nigeria and Ghana. Tagged: “Global Growth – Developing Talent in Africa”, […]

Africa’s Youth On the Cusp of Change?

By Naomi Conrad Is a new mindset and political awareness emerging among Africa’s youth? Or is the growth and glitter giving a false impression. Internet-savvy, smart phone-wielding entrepreneurs and activists look for answers. In a converted hall in Berlin’s Kreuzberg district that once housed a transformer substation, Ghana’s Minister for Youth and Sport, Elvis Afriyie-Ankrah […]

Africa Loses Billions in Illicit Money Laundering

By Nathaniel Daygbor Former South African President Thabo Mbeki says Africa is losing billions each year to illicit capital outflows in development. Addressing members of the 53rd Liberian Legislature in a joint session Tuesday in Monrovia, he said that the rate at which Africa loses development money through illegal means is alarming. “We are losing […]

West Africa: U.S. and West African Countries Work Towards Trade Deal

Cape Town — The United States is working with West African countries to reach a trade and investment agreement that supports efforts at economic growth and integration as American companies increasingly look toward Africa for business opportunities. U.S. Trade Representative Demetrios Marantis told AllAfrica that discussions on the Trade and Investment Framework Agreement (TIFA) with […]

Oil firms still don’t pay corporate tax

Oil receipt for 2012 did not include a pesewa of the projected GHC384.11 million as corporate income tax; the 2013 budget statement has shown – reviving the debate as to why government continues to make projections in that regard, and when the country is likely to begin earning from the same. The fact that the […]