Gabon: Latest News
Dana Sanchez, 4:17 pm
South Africa lost its spot as No. 1 economy in Africa to Nigeria in 2014, and its No. 2 spot to Egypt in 2016. So who has best shot next at bypassing the South African economy? These are 21 of the International Monetary Fund’s top performing economies in Africa based on gross domestic product. You’ll be surprised who’s absent from this list: Rwanda.
African governments have tried to limit and stop its use, but marijuana remains deeply ingrained in African traditions, economies and recreation. It is an important source of income, but is illegal everywhere in Africa. Tolerance and enforcement vary from country to country. There’s a growing belief that with the proper regulations, marijuana should be legalized for the greater good. AFKInsider compiled a list of African countries and ranked them for marijuana tolerance. We’ve also provided a list of most marijuana-friendly countries in the world as a basis for comparison.
Staff, 5:56 pm
There is widespread social resistance under way in Africa. Grassroots protesters are questioning the logic of export-led “growth” and fiscal austerity. They are demanding that their basic needs be met instead. After the dramatic Arab Spring, protesters picked up the pace in many sub-Saharan countries. Even if it is ignored in Kigali, or repressed on the ground, the popular risings against the WEF’s dubious “Africa Rising” rhetoric await…
Julia Austin, 5:14 pm AFKI Original
UniBank is entirely Ghanaian owned and, for that reason, has a loyal customer base. It was named Best SME Bank in Ghana—an award that works to recognize reforms, modernization, and expansion of Africa’s banking and financial sector. Ghana’s largest industries include agriculture, mining and ship building — industries that often do business far from metropolitan areas. Here are 8 of Ghana’s richest banks by assets in 2015.
Kevin Mwanza, 4:02 am
Global credit rating agency Moody’s downgraded Africa’s two largest oil producers, Nigeria and Angola, as it cut ratings on four African economies over the impact of lower oil prices on the international market. Moody’s said it was concerned over the impact depressed oil prices have on the liquidity, balance sheet and credit worthiness of Nigeria, Angola, Gabon and the Democratic republic of Congo (DRC).
Peter Pedroncelli, 9:00 am AFKI Original
Africa loves the beautiful game, and the popularity of soccer has created fertile ground for brands to provide funds in the form of sponsorship deals to be associated with the various competitions taking place around the continent. These brands sponsor African soccer and provide funding to take the game forward. We take a look at 8 big brands that are involved in sponsorship of soccer on the African continent.
Dana Sanchez, 1:34 pm
Marriott International, already the largest hotel chain in Africa, is continuing to expand on the continent and plans to build its first hotels in seven African countries between now and 2025. In 2014, Marriott acquired South Africa’s Protea hotels. In January, it said it would merge with competitor Starwood in a $12.2 billion deal that will make the U.S.-based corporation the largest hotel chain in the world. The buyout is expected to be complete in mid-2016.
Peter Pedroncelli, 5:31 am AFKI Original
With the 2016 Summer Olympics set to take place in Brazil this year, it is interesting to look back at the previous edition of the multi-sport competition to see how African countries performed in terms of their medal hauls. With this in mind, we take a look at the 10 African nations that earned medals during the 2012 Olympics in London.
Dana Sanchez, 1:44 pm
Specialty insurance in Africa can cover anything from currency inconvertability and political violence to insuring oil rigs and footballers’ legs. A new entity, AXA Africa Specialty Risks, will insure risks in Africa’s political, energy and infrastructure sectors. Sub-Sahara’s insurance market is increasingly attractive to global insurers. African innovations such as mobile and cashless payments may soon disrupt developed insurance markets, according to Ernst & Young.
Dana Sanchez, 11:41 am
There has been criticism over funding African countries that are launching astronauts into space when two thirds of Africans live on less than $2 a day. African countries expanding their space programs include Nigeria, Ghana, Kenya, Gabon and South Africa. Poor countries want space programs more than rich ones do. “People strive to accomplish such things for reasons that are intuitive and compelling (but) not necessarily logical,” the Smithsonian reported.
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