Monday 26 June 2017
(AFP (eng) 06/12/17)
German Chancellor Angela Merkel will on Monday meet African leaders in Berlin on initiatives aiming to reduce the poverty and conflict driving a mass migrant influx to Europe. The idea is to team up African nations willing to reform with private investors who would bring business and jobs to a continent where instability or graft often scare off foreign companies. Merkel is hosting the initiative as part of Germany's presidency of the Group of 20 powerful economies, whose leaders meet in the northern port of Hamburg a month later. Invited to Berlin are Egyptian President Abdel Fattah al-Sisi and the leaders of Ghana, Ivory Coast...
(News Day 06/07/17)
Botswana has banned the importation of poultry products from Zimbabwe following an outbreak of avian influenza. In a notice yesterday, the Botswana government said it was also cancelling the import permits that had been issued for Zimbabwe’s poultry products. “The public is informed that an outbreak of avian influenza has been reported in Zimbabwe,” part of the Botswana government notice read. “As a result, the import of domesticated and wild birds, their products (meat, eggs, feathers etc) and poultry feed from Zimbabwe is banned with immediate effect. “All import permits issued for importing the listed items are cancelled with immediate effect. The documents are to be returned to the nearest veterinary office.” On Monday, the Department of Veterinary Services said...
(APA 05/23/17)
President Ian Khama said Tuesday the country’s economy is recovering, and showed some positive growth of 4.2 percent in the fourth quarter of 2016 compared to a decline of 3.5 percent recorded in the same quarter of 2015. Speaking at the High-Level Consultative Meeting, Khama said the non-mining sector continues to show growth, especially trade, hotels and restaurants, as well as transport and communications. However, Khama warned, the mining sector continued to record a decrease of 6.2 percent during the...
(Reuters (Eng) 05/22/17)
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast. Allard co-authored...
(Reuters (Eng) 05/19/17)
When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt crises if local currencies devalue and make dollar debt repayments more expensive. Aside from South Africa and Nigeria, governments have not yet done enough to...
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much...
(Bloomberg 05/16/17)
When the impoverished West African nation of Niger imposed a ban on donkey exports last year, a small community of traders just over the border in Nigeria was devastated. “Before the ban, you could see thousands of donkeys here,” said Mohammed Sani, a 45-year-old trader in the Nigerian town of Jibiya, as he wiped the sweat off his brow. “Now look at them: there’s no more than 50, crippling the business.” Donkeys are being slaughtered at an alarming pace to...
(MmegiOnline 05/11/17)
Botswana has registered significant improvement in most aspects of competitiveness, surpassing regional peers such as Namibia and Kenya. However, the country still lags behind when compared to South Africa and Mauritius. In the recently released 2017 Global Competitiveness Index (GCI) of the World Economic Forum (WEF), Botswana is ranked 64th out of 138 countries. This marks an improvement of eight positions, relative to the previous report. Botswana’s score also rose to 4.3 from 4.19 showing improvement in most categories. The...
(Reuters (Eng) 05/05/17)
The World Bank on Thursday called on Botswana to make details of its large mining contracts with companies public to improve transparency in the diamond rich country's business dealings. Botswana earns 89 percent of its foreign exchange income and 30 percent of national revenues from mining, predominantly diamonds. It has various large-scale mining, sales and marketing contracts with Anglo American's diamond unit, De Beers. World Bank Group consultant Nils Handler said in a report the government’s decision to keep the negotiation process around contracts for diamond mining and large integrated projects confidential was a cause for concern. "A more open process
(Voice of America 05/05/17)
As Africa grapples with a severe drought, and famine threatens millions of people, experts at the World Economic Forum on Africa this week in the South African city of Durban say food security needs to be a major part of discussions on advancing the continent economically. The annual World Economic Forum in Switzerland is usually a high-powered event, but at this week’s Africa meeting of the international organization, the continent’s big players are welcoming the humble farmer, now known as...
(Dw-World 05/04/17)
The southern African country attracts eco-tourists with its offer of lion spotting or observing elephants at a watering hole. The new tourist tax aims to improve the country's tourist infrastructure. With the Kalahari, Okavango or Chobe Nation Parks, Botswana focuses on sustainable eco-tourism. Nearly 40% of the entire surface area of the country is comprised of National Parks, wildlife sanctuaries or reserves. Rhinoceroses were relocated here to protect them from poachers. The country, which borders South Africa and Namibia, welcomes...
(Xinhuanet 05/04/17)
The World Economic Forum (WEF) Africa Competitiveness Report 2017 released in Durban Thursday called for urgent policy reforms if the continent intends to create more jobs for its growing young population. According to the report issued at the 27th WEF on Africa, fewer than one-quarter of the 450 million new jobs required in the next 20 years will be created if current policies remain unchanged. The report called for structural reforms in the economies to create more jobs for the...
(Business Day 05/02/17)
Russian mining company Norilsk Nickel is to sue the Botswana government to recover more than $277m, excluding damages and costs, because of "reckless trading" of state-owned Botswana Copper (BCL) and the failed sale of the Nkomati nickel mine in SA. Botswana is African country rated highest in annual mining surveys conducted by Canada’s Fraser Institute. "The government has displayed a complete disregard for the fair, frank and reasonable dealing with outsiders that BCL’s insolvent circumstances demanded," said Norilsk Nickel Africa CEO Michael Marriott. "Botswana has a reputation as one of the safest and best places to invest in the whole of Africa and it has earned
(Bloomberg 05/02/17)
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa. Aramco, as Saudi Arabian Oil Co. is known, is building refineries in the kingdom and in Asia to help it increase sales and purchases of gasoline, diesel and other products to more than 2 million barrels a day, said Ibrahim Al-Buainain, chief...
(Financial Times 04/28/17)
Russia group wants to reclaim $270m after state-backed company failed to complete deal. Norilsk Nickel, the Russian miner, is suing Botswana’s government to recover more than $270m after a state-backed mining company walked away from a deal to buy its stake in a South African mine last year. Notice of the lawsuit was served on Thursday in Gaborone, Botswana’s capital, according to two people briefed on the matter. Norilsk agreed to sell operations including its 50 per cent stake in...
(Business Day Ghana 04/27/17)
There are currently 960 million mobile subscriptions across Africa – an 80 percent penetration rate among the continent’s population. Internet penetration is at 18 percent with 216 million internet users, according to the latest Jumia mobile trend report for Africa. The 2017 edition of the African Mobile Trends Paper is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria. The study takes a look at the how the market has democratised mobile internet...
(Xinhuanet 04/26/17)
The Belt and Road (B&R) Initiative is a golden opportunity to bring about regional integration and sustainable economic growth for Africa, said Berhane Gebre-Christos, special envoy of the Ethiopian Prime Minister, on Tuesday. The special envoy made the remarks at the opening of a seminar organized on the B&R Initiative in Ethiopia's capital Addis Ababa. Welcoming the initiative, the special envoy said he is looking forward to the expected effects of the initiative. "The B&R is a project that will...
(Bloomberg 04/20/17)
WorldRemit Ltd., a British money-transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile-payment platforms and expatriates send cash home. The seven-year-old company, in which Facebook Inc.-backer Accel Partners LP invested $40 million in 2014, will this year open a regional office in South Africa, its largest market on the continent in terms of money-transfer value, founder and Chief Executive Officer Ismail Ahmed said in an interview. Another site will start...
(AFP (eng) 04/18/17)
The International Monetary Fund on Tuesday forecast 2.6 percent growth in sub-Saharan Africa this year, aided by a modest recovery in large economies South Africa, Nigeria and Angola. "Growth is projected to rise to 2.6 percent in 2017 and 3.5 percent in 2018, largely driven by specific factors in the largest economies, which faced challenging macroeconomic conditions in 2016," the IMF said its latest World Economic Outlook report. A slump in commodity price in 2016 and devastating drought had affected...
(Xinhuanet 04/18/17)
Africa's diaspora is playing a big role in the economic transformation of the continent, the UN said on Tuesday. UN Population Fund (UNFPA) Regional Director Dr Julitta Onabanjo told Xinhua in Nairobi that remittances are important source of income for many African families. "The diaspora therefore complements government efforts to lift many families out of poverty," Onabanjo said on the sidelines of the First Africa-China Conference on Population and Development. Onabanjo said that Africans in the diaspora also bring back...

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