• Sub-Saharan Africa Headed For Slowest Economic Growth In Two Decades

    Economic growth By Staff, 2:15 am

    Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, its lowest level in two decades, due to continuing woes in the continent’s largest economies South Africa and Nigeria, a World Bank report said on Thursday. Africa has been one of the world’s fastest growing regions over the past decade, but a commodities slump has hit its oil and mineral exporters hard, bringing growth down to 3 percent in 2015.

  • Opinion: Taking Sweet Baby Steps For A TB-Free Kenya

    TB-Free Kenya By Staff

    Kenya is a high-burden TB country. In 2015, Kenya had over 81,000 cases of TB, some of whom are infected with both TB and HIV. The number of people who die from TB has risen steadily since 2010, reaching almost 5,000 in 2015. There are also a growing number of drug-resistant TB cases. At least one million children become ill with TB every year around the world with 140,000 losing their lives. Nearly 7,000 infants and children here in Kenya had TB in 2015.

  • US OPIC Fund Opens Nairobi Office, 3rd In Africa, For Infrastructure Deals

    OPIC fund opens Nairobi office By Staff, 9:07 am

    America’s Overseas Private Investment Corporation (OPIC), which mobilizes private capital and invests in development projects to advance U.S. foreign policy, is set to open an office in Nairobi, raising the Kenyan capital’s profile as a key hub for investors seeking big-ticket infrastructure deals. OPIC has opened two other offices in Africa during President Barack Obama’s administration — in Abidjan, Coted’Ivoire and Johanesburg, South Africa.

  • Opinion: Lacking Media Coverage, Russia Struggles To Regain Influence In Africa

    Russia struggles to regain influence in Africa By Staff, 12:01 am

    The Russian media writes very little about Africa. African political leaders and corporate business directors have to depend on Western media reports about developments in Russia. Assurances by Russian officials that Africa is in the mainstream of Russia’s foreign policy have not been substantiated, and the development of Africa-Russia relations has so far been nothing to boast about. Only a few of Russia’s initiatives aimed at reviving economic cooperation have been made public.

  • Gabon’s Constitutional Court Upholds President Bongo’s Controversial Re-Election

    By Staff, 6:38 am

    Gabon’s Constitutional Court on Friday (Sept. 23) upheld the re-election of incumbent president Ali Bongo, extending his family’s five-decade rule over the oil-rich, small Central African nation. Bongo was announced as the winner of the country’s general elections, which were held late last month. He won the vote by a slim margin of 6,000 votes ahead of his closest rival, Jean Ping.

  • Africa Investment Heats Up As Pension Funds Stay Local

    By Staff, 3:13 am

    African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature. Sources cited East Africa as “hot.” Countries such as Tanzania, Kenya, Ethiopia and Rwanda were mentioned as offering emerging opportunities in private equity, while Nigeria

  • Africa’s Banker Of Tomorrow: Armed With Fintech And Fuelled By Data

    By Staff, 12:58 am

    The time is 6:02AM, the year 2026, the location Lagos Financial City. Fatima Abouzeid flails at her digital personal assistant to silence the alarm, which in return flashes her a miffed/not-miffed emoji and starts to warble the main news headlines of the day. “Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan…

  • Opinion: Private Equity Won’t Become Mainstream Finance Source For African Entrepreneurs

    finance source for African entrepreneurs By Staff, 8:39 am

    Many private equity firms exert more control on the companies they invest in than African entrepreneurs are comfortable with. Businesses built by African entrepreneurs are usually local. Local political patronage and connections often sustain them. The Dangotes, Elumelus and Thakkars are the exception. The majority of African entrepreneurs will continue to rely on debt capital – even at rates close to 30%. That may be another opportunity for foreign firms looking to Africa.

  • Nigeria Gets S&P Downgrade, Dangote Says Government Should Sell Assets

    Dangote says government should sell assets By Staff, 12:02 am

    Just as Nigeria prepares to issue its first Eurobond since 2013, S&P Global Ratings has downgraded the economy of Africa’s most populous country further into junk territory. Africa’s wealthiest man, Nigerian billionaire Aliko Dangote, told CNBC he knows what could help Nigeria move out of the recession — selling government assets to the private sector. “Nigeria’s economy has weakened more than we expected owing to a marked contraction in oil production, a restrictive foreign exchange policy and delayed fiscal stimulus,” S&P said Friday in an e-mailed statement after markets closed.

  • Selfie Banking Isn’t Too Far Off For South Africa: Photo Recognition Technology

    Selfie banking By Staff, 12:01 am

    One of the world’s largest banks, HSBC is now allowing customers to open accounts by taking a photo of themselves with their mobile phone, then log into their accounts using facial recognition technology. The selfie will be matched with a photo from a passport or drivers license. Some major South African banks talked about the technology, and how close it may be to local adoption, in a Business Tech report. “The idea does not seem a stretch once photo recognition is part of our everyday operations,” Nedbank said.