Tuesday 17 October 2017
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive the 2017 World Food Prize on Thursday October 19, announced a press release issued by the AfDB on October 16, which also said “the prize is to agriculture what the Nobel Prize is to peace,...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria contracted by 1.6 percent in 2016, but is predicted to grow by 0.8 percent this year and 1.9 percent next year. The IMF said Nigeria was benefitting from "recovering oil production and ongoing strength in the agricultural sector", but the...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(Macauhub 09/19/17)
The governments of Mozambique and Malawi have decided to expand the Nacala Development Corridor, which includes a railway line that crosses the two countries linking Moatize, in Tete province, to the port of Nampula, in Nampula province, under a agreement signed on Friday in Maputo. The agreement, which provides for additional funding of US$2.5 billion for development of the corridor, will allow the corridor to evolve, “as well as fostering economic growth by promoting and coordinating economically viable businesses in...
(The Guardian 09/18/17)
Anna Jones says that, through selling its cocoa cheaply, Africa is exporting its wealth overseas; while Sue Banford claims that the soya moratorium in the Amazon has done nothing to halt deforestation. Only the final paragraph in your article on cocoa farming causing deforestation in Ivory Coast (Forests pay price for world’s taste for cocoa, 14 September) mentioned the most fundamental thing – the farmer’s livelihood, or lack of it. The low value of his (or more likely her) crop...
(Bloomberg 09/15/17)
Societe Generale SA, challenged on its home turf by Orange SA’s push into banking, is fighting back with a new mobile lender in Africa. The French lender started YUP, a new app for smartphones, in Senegal and Ivory Coast and plans to begin operating in four other sub-Saharan countries this year and next, the company said on Thursday. The bank aims to double its client base to 2 million in the region within three years. “Telcos have opened the way...
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for...
(Nyasa Times 09/05/17)
Minister of Information and Technology and Communications Nicholas Dausi has commended Malawi’s integrated premier mobile network provider TNM for pioneering innovative ICT products and services in the country. Dausi said this in Lilongwe during the launch of TNM 4.5 G/LTE under the banner Think Digital Dausi said the think digital complement the government efforts in meeting the aspirations of the nation ‘On behalf of government I wish to comment TNM for taking another bold step forward in its pioneeringtradition. The...
(Xinhuanet 09/05/17)
Delegates from African countries are hoping to attract more Chinese investment at the ongoing 11th China-Northeast Asia Expo in Changchun, capital of northeastern Jilin Province. Representatives from Ethiopia, Kenya, Zambia and Mozambique presented a variety of collaborative projects at the expo, ranging from grain and dairy processing, light manufacturing, to machinery and construction, in the hope of finding Chinese counterparts to invest in their countries. Ethiopia has set up a one-stop service system to simplify the approval process for business...
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to...
(Malawi 24 09/04/17)
Malawi’s power outages are really a thorn in the fresh. Malawians are yet again experiencing electricity outages just like last year. The Electricity Supply Corporation of Malawi (Escom) last month indicated that the dwindling water levels in Lake Malawi remain the main reason behind the problem. But power outages are back. On Thursday in Blantyre for example, there were no lights for over five hours in locations like Chitawira, Nkolokosa, Kanjedza and Naperi just to mention a few. Businesspersons operating...
(The Maravi Post 09/04/17)
The Malawi Government through Ministry of Finance and International Monetary Fund (IMF) this week agreed on the implementation of the Extended Credit Facility (ECF) priorities in the next program. The ECF Malawi program agreements focus on increasing growth and reducing poverty, to consolidate the hard-won macroeconomic stability. The agreement took centre-stage during a two-day conference held in the capital Lilongwe between the two parties, which took stock of the objectives and performance of the ECF, and the lessons for future...
(The Maravi Post 09/04/17)
The country’s final consolidated figures for this year’s tobacco earnings have been pegged at US$212 million, it has been learnt. This is the summing gross collection statistics released by regulatory body, Tobacco Control Commission (TCC) saying the earnings surpass last year’s by 23 percent. In 2016, a total of 194 million kilograms of tobacco was sold at an average of US$1.42 per kg in which the country realized US275 million. This was a drop from US$362 million of 168 million...
(Malawi 24 09/04/17)
Standard Bank Malawi has appointed Temwani Simwaka as the bank’s acting Chief Executive Officer (CEO). This follows the departure of Andrew Mashanda who has been given a new role within the Standard Bank Group. According to a statement from the bank signed by board chairman Rex Harawa, Simwaka’s appointment is effective September 1. Simwaka is also the bank’s Chief Finance Officer and will be juggling the two roles. The bank has since thanked Mashanda for his services during his four...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of...
(Nyasa Times 08/31/17)
Malawi and South Africa on Thursday signed an agreement of cooperation in the field of tourism as one way of enhance mutual cooperation between the two countries in the sector. The signing agreement took place at Bingu International convection centre BICC in Lilongwe on the side lines of the Malawi “ Takulandirani” 2017 Malawi International Tourism Expo 2017. Minister of Trade, Industry and Tourism, Henry Mussa said government of Malawi appreciates the support it gets from southern government for the...

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