Sunday 25 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...
(The Namibian 06/07/17)
Government received the transport master plan for the four northern regions of Ohangwena, Omusati, Oshana and Oshikoto on Monday. Urban and rural development minister Sophia Shaningwa told The Namibian yesterday that the plan will guide the roads network in the northern regions. "The plan basically shows us if people are building fixed assets too close to the road, and how to locate the margins," she said. Close to N$12,8 billion has been committed towards the master plan. The minister said the plan was completed after wide consultations with various stakeholders, including regional and local councils, as well as the Motor Vehicle Accident (MVA) Fund. "The country is currently experiencing a high carnage
(The Namibian 06/07/17)
Namibia hopes to have a diversified and competitive tourism sector which attracts 1,8 million tourists by 2022, according to the recently released fifth National Development Plan (NDP5). According to the NDP5 document, Namibia remains heavily dependent on its top ten tourist destinations, hence the need exists to expand the number of tourist markets serving the country to ensure the sustainability of the sector. Although Namibia has good infrastructure in most parts of the country, a lack of infrastructure in some...
(Reuters (Eng) 06/02/17)
Namibia will invest 164 billion Namibian dollars ($12.44 billion) over the next five years on plans which include upgrading and revamping hospitals, and building water and energy infrastructure, President Hage Geingob said on Wednesday. The investment package under a National Development Plan will be deployed on programmes and projects which also cover agriculture, technical and vocational training, and industrial development. "This would involve modernising and up-scaling our production sectors and systems including agriculture, manufacturing, fisheries, mining and tourism," Geingob said at the launch of the programme. "By focusing on these sectors, we should be able to create more jobs to absorb new entrants
(Lusaka Times 06/02/17)
Windhoek –Zambian authorities are detaining 70 drivers and have impounded 200 Namibian trucks that were carrying timber from the Democratic Republic of Congo. The trucks have been impounded for about five months and this has so far cost the trucks owners about R100 million, according to the Namibian Chamber of Commerce and Industry (NCCI), which is demanding the immediate release of the trucks. The trucks were impounded because Zambian laws prohibits the harvesting of Mukula timber in the country. 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...
(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...
(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...
(New Era 05/02/17)
Namibian President Hage Geingob over the weekend implored African governments and the private sector to aggressively champion industrialisation in their economies and curb over-reliance on raw commodity exports. Geingob, who was on a three-day state visit to Zimbabwe, spoke at the official opening of the 58th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo, where he noted that the challenges facing the African continent and rising youth unemployment could only be addressed by harnessing regional linkages and pursuing...
(New Era 05/02/17)
The Deputy Minister of Agriculture Water and Forestry, Anna Shiweda, has expressed gratitude to the Japanese government for its continuous support in Namibia’s quest to eradicate poverty and hunger. Shiweda made the remarks during the handing over of the Northern Crop and Livestock Development Master Plan study report by the Japan International Cooperation Agency (JICA) in Windhoek on Thursday. The project aims to introduce market-oriented agriculture for small-scale farmers in order to uplift the lives of such farmers by enhancing...
(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...
(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...
(Xinhuanet 04/19/17)
Some 600,000 Namibians have either received or will receive rice donated by China amid food shortages as a result of three-year-old droughts in the country, said a senior Chinese Embassy official on Tuesday. Li Nan, charge d'affaires of the Chinese Embassy in Windhoek, said China has donated 4,000 metric tons of rice to the southwestern African country. "All the rice has been well received, transported and distributed smoothly. More than 595,000 beneficiaries living in the rural areas all over the...
(New Era 04/18/17)
Swakopmund-based mining company Gecko Namibia is being investigated by police in the Erongo Region for alleged illegal mining at the Cape Cross salt pans, about 45 kilometres from Henties Bay. According to papers seen by New Era the area in question belongs to companies Cape Cross Salts (CCS) and Cape Cross Salt Investments (CCSI). However, none of the two companies are extracting the salt for several years now due to disputes, with the latter being accused of dubiously acquiring a...
(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...

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