| Africatime
Wednesday 26 April 2017
(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 affect millions of people, and it will be one of the most important issues of the 21st century," he said, adding that the comprehensive approach of China means that the aspirations and development strategies of...
(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 operating in Kenya, where the London-based business sees Africa’s highest number of individual transactions. “In the next two years we should be doubling our volume every year,” Ahmed said in Kenya’s capital, Nairobi. The continent accounted for half the company’s...
(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...
(Reuters (Eng) 04/07/17)
Access to off-grid solar energy in rural areas of Africa goes beyond lighting up homes - it also enables people to connect to the wider world and boosts their economic prospects, said the head of one of the continent's biggest solar companies. Azuri Technologies' entry level solar system - for which customers pay a one-off installation fee, then use scratch cards or mobile phone payments to top up on a weekly or monthly basis - provides eight hours of lighting...
(Nyasa Times 04/06/17)
President Peter Mutharika has emphasised the need for every Malawian in the country to have access to electricity, saying his government will ensure to provide energy to schools, clinics and homes in the rural areas where the power supply is scarce. Mutharika made the emphasis in Mulanje during the launch of phase eight of the Malawi Rural Electrification Programme (MAREP). The Malawi leader said electricity plays a bigger role in enhancing economic development activities hence making sure that every corner of the country has acces to electric power. He said the country had not made huge investments in the energy sector for the past 50 years which has somehow delayed the country's development
(Nyasa Times 04/06/17)
President Peter Mutharika has said the government is under pressure to export maize but has put his foot down, saying his administration would neither lift the maize export ban. Mutharika said this on Wednesday in Mulanje during the launch of Malawi Rural Electrification Program (Marep) phase eight. "This is my maize. This maize will stay in Malawi, it will not be exported," he said. Admarc has over 100000 metric tonnes of maize in its warehouses which it bought after an...
(Financial Times 04/04/17)
Countries should develop policies to attract labour-intensive production leaving China. China’s initial wave of investments in Africa focused on natural resource extraction. Their demand for metals and energy was so large that it actually boosted global commodity prices overall, which in turn accelerated growth across the African continent. These times of China propping up global commodity prices are now over, as it has built up excess capacity in many sectors and now faces slow investment growth. This lower demand has...
(Malawi News Agency 03/29/17)
Blantyre — The Roads Authority (RA) with funding from Roads Administration has budgeted public funds for the procurement of various works in the 2017/2018 financial year aimed at maintaining and rehabilitating roads and bridges across the country. According to a statement by RA inviting bids from suitable contractors released on March 27, RA has funds meant to cover eligible payments under the Road and Bridge Maintenance Programme for the procurement of various Civil Works contracts in the 2017 to 2018...
(Agence Ecofin 03/20/17)
At the Africa CEO Forum which opened this morning in Geneva, AFD Group – in partnership with the European Union – unveiled the “African Renewable Energy Scale-Up facility”, designed to boost private sector investment in on–grid and off-grid renewable energy production in Africa. In order to meet Africa’s constantly increasing energy requirements, support must be provided for mass development of the renewable energy technologies – especially solar energy – that will play such a key role over the coming years,...
(Voice of America 03/18/17)
Each year, the University of Southern California hosts the African Global Economic and Development Summit, bringing delegations from Africa to meet with business leaders, government officials and others in the U.S. But this year, the African summit has no Africans. All were denied visas. Visa issues are not uncommon for people traveling from African nations. During her prior three summits, Mary Flowers saw a high percentage of her attendees unable to attain visas. "Usually we get 40 percent that get...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations...
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh,...
(Malawi 24 03/08/17)
As Malawians are finding it hard to secure jobs in the country, young people are migrating to Dubai in United Arab Emirates to look for greener pastures. Although some of the Malawians who have been migrating to foreign countries have been facing challenges, scarcity of jobs in the country is acting as a push factor for the young men to leave for foreign countries. Dubai in the United Arab Emirates is gradually matching South Africa in terms of attracting Malawian...
(The Maravi Post 03/08/17)
The Malawi Investment Forum (MIF) which the country hosted last year (2016), was an outstanding gamble to pursue, considering the huge public and privates investment deals that it generating. These will greatly foster the nation’s economic growth. In its MIF 2016 summary report released on March 2, 2017 and made available to The Maravi Post, the Ministry of Industry, Trade and Tourism through the Malawi Investment and Trade Centre (MITC), lauded the success of the forum because it sealed 10...
(The Independent 03/06/17)
Th term was coined by sceptical officials, worried about the importance given to Commonwealth trade deals ahead of Brexit negotiations. Plans by government ministers to boost trade links with African Commonwealth countries are being internally branded “empire 2.0” by sceptical officials who are worried about the importance being placed on such deals ahead of the UK’s negotiations of leaving the European Union (EU). International Trade Secretary Liam Fox is expected to promise to build better links with the whole of...
(Bloomberg 03/03/17)
Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star. It aims to raise...
(Reuters (Eng) 02/27/17)
Malawi's maize production may rise a third in 2017 to 3.2 million tonnes despite damage inflicted by the fall armyworm, an alien South American pest that has invaded corn fields from Congo to South Africa. Malawi's maize crop, the staple grain, was devastated last year by a regional drought triggered by an El Nino weather pattern. About 6.5 million Malawians, more than a third of the population, are dependent on food aid until this year's harvest in March, according to the United Nations' World Food Programme. The armyworm outbreak raised concerns about this year's harvest in Malawi
(Reuters (Eng) 02/22/17)
Malawi's President Peter Mutharika has dismissed the agriculture minister after an investigation into maize procurement, the southern African nation's information minister said on Wednesday. Mutharika ordered an investigation last month into a $34.5 million government maize purchase from Zambia after allegations that the price had been inflated. "The President has removed from Cabinet Hon George Chaponda as agriculture minister with immediate effect following after he was found with millions of money at his residence yesterday," Minister of Information Nicolaus Saudi...
(Xinhuanet 02/22/17)
Africa Energy Indaba, the continent's premier energy event, kicked off in Johannesburg on Monday with the aim of finding solutions to the continent's energy future. The three-day conference is being attended by the governments' representatives, business and funders. The meeting seeks to unleash the continent's potential by coming up with an energy mix to develop Africa. Dr. Garth Strachan, Deputy Director General and Head of Gas Industrialization Unit in South Africa's Department of Trade and Industry said the recent discoveries...

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