$1.8trn space economy offers global growth prospects – WEF, McKinsey
Post AMUGE
April 15, 2024
Africa’s $23bn space value by 2026 ready to liftoff 15 nations spend $4.71bn on 58 satellites; 105 for launch in 2026 Top 10: South Africa, Nigeria, Egypt, Angola, Algeria, Ethiopia, Ghana, Kenya, Morocco, Libya Ben Eguzozie The Space economy is expanding, and is expected to be worth $1.8 trillion by […]
Rising business risks seen in developing economies due to climate change – Report
Post AMUGEMarch 25, 2024
Businesses in EM feeling impact of climate change Drought, extreme temperature top risks for African businesses Joy Agwunobi Climate change poses a significant threat to businesses and economies across the globe, and its impact is being felt the hardest by businesses in developing countries, according to the British International Investment’s Emerging Economies Climate Report. […]
Africa’s talent takes the spotlight in the RLSD Africa’s Talent Leather Design Showcase ’24
Post AMUGEMarch 25, 2024
Business a.m. The Leather & Hide Council of America (L&HCA) and the Africa Leather and Leather Products Institute (ALLPI) have announced the commencement of the Real Leather. Stay Different. Africa’s Talent Leather Design Showcase 2024. The programme is aimed at celebrating and supporting the talented designers and artisans of Africa, showcasing their work and creating […]
20 Nigerian change-makers mark a new era for the continent at ALC graduation
Post AMUGEMarch 25, 2024
Business a.m. Twenty Nigerian graduates of the African Leadership College (ALC) were recently honoured at the institution’s Asante Sana Day, a memorable ceremony that took place in Pamplemousses, Mauritius. The event was graced by dignitaries from across the African continent, including Prithvirajsing Roopun, the President of Mauritius, who was present to congratulate the graduates acknowledge […]
Africa’s share of global trade stuck at 2.9% despite AfCFTA
Post AMUGEMarch 5, 2024
Onome Amuge Despite the immense potential of the African market, the continent’s share of global trade has remained below three percent, with most of this activity centred on merchandise trade. This is in sharp contrast to the significant increase in global trade in services and highlights the need for African countries to deepen regional integration […]
Global turbulence clouds AfDB’s outlook on Africa
Post AMUGEDecember 4, 2023
Revises economic forecast to 3.4% in 2023 Onome Amuge The African Development Bank (AfDB) has revised its short- to medium-term macroeconomic forecast for Africa for the years 2023 and 2024 downward to 3.4 percent and 3.8 percent, respectively, from the earlier estimates of 4.0 percent and 4.3 percent. The revised forecasts take […]
NEXIM, Afreximbank announce US$750,000 grant to chart Niger-Benue channel as part of ECOWAS Regional Sealink Project
BEN EGUZOZIEMay 31, 2021
Ben Eguzozie, in Port Harcourt The Nigeria Export-Import Bank (NEXIM) and African Export-Import Bank (Afreximbank) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue River in Nigeria, as part of the Regional Sealink Project, which aims to bridge the gap in maritime transport infrastructure […]
Guinea, West African struggling nation, signs into Afreximbank’s FEDA
BEN EGUZOZIEMay 18, 2021
…With FEDA instrument, country can attract FDI Ben Eguzozie, in Port Harcourt The Republic of Guinea, West African and ECOWAS’s struggling nation, with a $12.3 billion GDP and a per capita income of $962.84 as of 2019, has signed into the African Export-Import Bank’s (Afreximbank) Fund for Export-Development in Africa (FEDA), a […]
AfDB Group completes clearance of Sudan’s $413 million arrears
BEN EGUZOZIEMay 13, 2021
…UK provided £148m bridge financing; Sweden $4.2m grant; Ireland €150,000 …Debt clearance by DFIs a precondition to Sudan’s HIPC debt relief from Paris Club …31 African countries under HIPC support of $76bn Ben Eguzozie, in Port Harcourt Following approval of the proposal by the Boards of Directors of the African Development […]
MTN, Vodafone Groups plan entrance into Ethiopia’s untapped telecoms markets
Online EditorApril 27, 2021
Charles Abuede Africa’s telecommunications giant, the MTN Group and a syndicate led by Vodafone Group Plc have tendered for operation licenses in Ethiopia as the wireless service providers prepare to tap the largest telecoms market in the world. Brook Taye, an adviser of the country’s finance ministry revealed on Monday that it will […]