Chinedu Okafor April 1, 2023 Kenya is exploring tax breaks to entice reluctant Western investors. Nairobi threw out the red carpet for US investors this week, despite the US administration complaining that corruption and a lack of transparency in tax policy inhibited investment in Kenya. These concerns were raised at the American Chamber of Commerce…
AP , Saturday 1 Apr 2023 Vice President Kamala Harris is pushing for $7 billion in private-sector investments to help Africa prepare for the effects of climate change. The announcement comes as she wraps up her weeklong trip to the continent on Saturday. Harris plans to visit a farm outside Lusaka, Zambia’s capital, where workers are using…
CAIRO, March 22 (Reuters) – The World Bank said on Wednesday it had approved a new $7 billion partnership agreement with Egypt for 2023-2027 with a focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change. The Country Partnership Agreement (CPF) will entail $1 billion per year…
By Rédaction Africanews and Ruth Lago How to strengthen intra-African trade, which only accounts for 17% of trade on the continent? The AU advocates a pan-Africanization of the economic system. The 5th UN Conference on Least Developed Countries in Doha, Qatar, emphasized the key role of financing for SMEs. In sub-Saharan Africa, women produce up…
By Africanews According to figures released this Wednesday by Statistics South Africa, retail sales in the country fell 0.8% year on year in January after falling by a revised 0.5% in December. On a month-on-month basis, sales increased 1.5%. The numbers are relevant as they offer an insight into consumer demand in Africa’s most industrialised…
By Rédaction Africanews By multiplying the heavy infrastructure projects in Africa, China, and Russia aim to establish their influence in the countries of the continent, which risk their part to find themselves “trapped”, warn experts. Railway lines, and civil infrastructure: China is multiplying gigantic projects in cooperation with African states, of which it is becoming…
On March 9, 2023, 9:11 AM A German company says it has signed a memorandum of understanding for a $34bn (£29bn) green energy project in Mauritania. Egyptian and Emirati firms are also part of the deal. The facility will produce up to eight million tonnes of green hydrogen and other hydrogen-based products annually in Mauritania….
Staff Writer, Agence France-Presse (AFP) March 7, 2023 South Africa’s economy shrank 1.3 percent in the final three months of 2022 to return below pre-pandemic levels as record power shortages hit activity, official data showed Tuesday. “After rallying in the third quarter of 2022, South African gross domestic product (GDP) declined by 1.3 percent in…
Camillus Eboh, Reuters News March 4, 2023 ABUJA – Nigeria’s Supreme Court on Friday ordered the central bank to extend until Dec. 31 the use of old banknotes, whose withdrawal from circulation became an election issue after it caused cash shortages, widespread hardship and anger. The timing left many Nigerians fed up, hungry and exhausted right…
The South African Reserve Bank (SARB), the country’s central bank, said it is committed to the fight against money laundering. The SARB made the remarks in a statement on Friday after the Financial Action Task Force, a global money laundering and terrorist financing watchdog, placed South Africa on the grey list of jurisdictions under increased…
