Business: Latest News

  • 12 Biggest African Recipients Of Foreign Aid From The United States

    Biggest African Recipients Of Foreign Aid From The United States By Peter Pedroncelli, 3:20 am AFKI Original

    The United States provides foreign aid that benefits numerous African recipients, with over $43 billion of total obligations going to 222 countries around the world in 2015. Much of this goes to assisting countries in sub-Saharan and North Africa, with USAID funding countless programs for the good of people within those nations. We take a look at the 12 biggest African recipients of foreign aid from the United States.

  • Cape Town Brings In Over $112M In 6 Years As Africa’s Best Business Tourism Destination

    Cape Town Brings In Over $112 Million In Six Years As Africa's Best Business Tourism Destination By Peter Pedroncelli, 5:53 am

    Cape Town has been named the best business tourism destination on the African continent once again, a ranking produced by the International Congress and Convention Association (ICCA) revealed. The Mother City is now considered the 39th best business tourism hub in the world, having improved last year’s ranking by 15 spots. In the last financial year, the city secured 33 new bids with an estimated attendance of 28,000 delegates and an estimated economic impact of around $31.7 million, while conferences over the past six years have had an estimated economic impact of more than $112 million.

  • Nigeria To Invest In Expanded Electricity Generation With $5.2B World Bank Loan

    electricity generation By Peter Pedroncelli, 6:09 am

    Nigeria is looking to invest in plans to expand electricity generation and capacity with a proposed $5.2 billion loan from the World Bank, thereby boosting economic recovery following the country’s first contraction in a quarter of a century. Nigeria’s power, works, and housing minister Babatunde Fashola has identified the loan amount as a requirement in order to address the issues that the country has in terms of distribution of power, transmission-capacity and poor access to electricity in rural areas. These issues have a knock-on effect for the economy, and addressing these would allow for improved electricity capacity for Nigerian private and public enterprise

  • New Egyptian Legislation Aimed At Attracting Foreign Direct Investment

    Foreign direct investment By Peter Pedroncelli, 4:18 am

    In an effort to attract foreign direct investment back to the country, Egypt has passed a law that is designed to cut red tape and make conducting business in the country far easier. Along with reducing bureaucracy for new business ventures in the country, incentives have been created in order to attract businesses to return to the North African nation. Egypt’s economy has been struggling in the last six years since the 2011 uprising that saw Hosni Mubarak overthrown as Egyptian president.

  • Why Is East Africa A Global Leader In Mobile Remittances?

    East Africa a global leader in mobile remittances By Tom Jackson, 9:58 pm AFKI Original

    TerraPay is the latest mobile payments platform to enter the crowded East African market with its launch in Tanzania. The challenge for the market lies in navigating regulatory hurdles from one country to the next, an expert said. Interoperability has the potential to unlock intra-African mobile remittances and could be key to promoting cross-border trade. It is expected to overcome challenges to scale and facilitate micro-transfers across borders, a common theme for Africa’s low-income population. Expect to see some consolidation in the market.

  • 7 Biotech, Health And Agro-Processing Projects Receive Cape Craft And Design Institute Funding

    Cape winelands Cape Craft And Design Institute By Peter Pedroncelli, 4:30 am

    Seven South African biotech, health, agro-processing, and manufacturing projects have received a funding boost from the Cape Craft and Design Institute (CCDI) through their Design Innovation Seed Fund (DISF) initiative. The grants, which form part of the Cape Craft and Design Institute’s second round of seed funding, will allow for the innovative projects to be developed for use in a variety of sectors that will benefit from the ideas in development.

  • 12 Most Admired Global Tech Brands According To Africans

    Most Admired Global Tech Brands According To Africans By Peter Pedroncelli, 3:09 am AFKI Original

    African consumers are increasingly able to enjoy numerous global tech brands due to a growing middle class on the continent that is savvy and mindful of what brands can offer them. Many of these brands have earned the admiration and loyalty of African consumers, with BrandAfrica ranking them in terms of the most admired brands from an African perspective. We take a look at 12 of the most admired global tech brands according to Africans.

  • Why Africa’s Economic Development Is Important To American Companies

    By Staff, 8:25 am

    The U.S. must increase investments in Africa, especially as China makes its own forays into the continent, and encourage economic development.

  • Who’s Moving To Invest In Africa’s Tech Ecosystem?

    Africa's Tech Ecosystem By Staff, 8:11 am

    Allard Luchsinger is the director for private equity at the Dutch-based venture fund, Velocity Capital Private Equity. The company specializes in fintech early-stage investments. Luchsinger shared what motivated his organization to invest in two African start-ups over the last year.

  • How Tech Innovation Could Boost Africa’s Economies With Government Support

    tech innovation in africa By Staff, 7:34 am

    Perhaps it is up to tech innovators to explain to policymakers the practicalities of what their industries need to succeed and meaningfully contribute to the economy

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