Category archives for: Business

In East Africa, Uber and its rivals are fighting over drivers rather than passengers

by Abdi Latif Dahir Last month, the Estonian ridesharing platform Taxify, revealed it was launching in the Ugandan capital city, Kampala. What’s interesting about the company’s launch there is that it’s equally focused on marketing the promise of lower prices for riders as it is on taking lower commission fees from drivers: 15% instead of […]

Ghana ranks high in investor confidence – US Chamber of Commerce report

The US-Africa Business Centre has released its maiden In- vestor Confidence Indicator for Africa (ICIFA) in Washington, ranking Ghana among the best countries in Africa in terms of convenience of doing business. Ghana’s overall score was 59.4 per cent which placed it in the first quartile of overall performers in Africa. The report, which was […]

China pledges US$15B to Ghana’s development agenda

China has pledged some $15 billion dollars to fund Ghana’s government’s massive economic transformation agenda, with the likelihood that a further four billion dol- lars would be committed for various development projects across the country. The commitment by the Chinese is based on a financing module presented by the government of Ghana, seeking for partnerships […]

Africa’s rise in digital revolution

By Eleni Mourdoukoutas When the world was changing from mechanical and analogue technology to digital electronics four decades ago, Africa was nowhere on the scene. Fast-forward to the present, and Africa has largely been able to catch up with other regions in mobile phone use and Internet access, successfully sidestepping the era of desktop computers […]

Dream Big – Ken Ofori Atta

by Kofi Ayim Ghanaian and non-Ghanaian prospective investors defied a rainy and inclement day and thronged the Ghana Mission/Consulate in New York City on the evening of Tuesday, April 25 to meet with a high powered Ghana government delegation to explore and exploit business opportunities in Ghana. In a keynote address, Mr. Ken Ofori Atta, […]

New US-Based Company Plans to Invest in Eastern Africa Region

A newly established US-based Company has trained it’s focus on the Eastern Africa Region as its prime investment destination with long term plans to expand to the rest of Africa. East Africa Assistance Corporation (EAFAC) is working on several investment programs to link Africa with US market and businesses. EAFAC will initially focus on the […]

Income inequality soars in South Africa and worldwide

Jan. 16, 2017 (GIN) – Global inequality has grown to unacceptable proportions, a new study has found, as just eight men now own the same wealth as half of the world. According to the international advocacy group Oxfam, 62 billionaires own the same wealth as the poorest half of the planet – particularly in India […]

Zimbabweans are sleeping overnight outside banks again to get their cash

by Lynsey Chutel & Tsvangirayi Mukwazhi It’s a terrible moment of déjà vu for Zimbabweans as another currency looms. For the last few days, in the capital Harare, Zimbabweans have begun lining up outside of banks to get hold of what little cash is in circulation before it’s replaced by bond notes as currency—the latest […]

Nigeria has hunted down ‘700,000 firms that have never paid tax’

Nigeria has hunted down 700,000 firms that have never paid taxes as the country seeks new revenue sources to offset low oil prices that have pushed Africa’s biggest economy into its first recession in more than 20 years, its tax chief said. Tunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), said in […]

Kenya’s PesaPal is moving into the physical world with its first point-of-sale system

by Joshua Masinde PesaPal, a Nairobi-based aggregator for online and mobile payments, is set to launch its own point-ofsale system (POS) to rival similar products from PayPal, Shopify and Square. Expected to be in place in a month, the point-of-sale system will enable business owners to accept payments more conveniently and help the firm tap […]