Sunday 22 April 2018
(AFP (eng) 03/21/18)
Forty-four African countries have signed an agreement establishing a free trade area seen as vital to the continent's economic development, the head of the African Union said Wednesday. "The agreement establishing the CFTA (African Continental Free Trade Area) was signed by 44 countries," said Moussa Faki Mahamat, chairperson of the AU commission. The creation of a free trade area -- billed as the world's largest -- comes after two years of negotiations, and is one of the AU's flagship projects for greater African integration. However, the agreement will still have to be ratified at a national level, and is only due to come into force in 180 days. The full list of countries which did...
(AFP (eng) 02/19/18)
About 224 million people are suffering from malnutrition across Africa as climate change and conflicts heighten food insecurity across the continent, a top UN food agency official said Monday. The official, speaking at a conference on Africa organised by the UN's Food and Agriculture Organization (FAO), said the situation was a "cause of concern" as the continent's population was expected to reach 1.7 billion by 2030. "Under-nourishment appears to have increased from about 21 percent to nearly 23 percent between 2015 and 2016," Bukar Tijani, FAO's assistant director general for Africa, said at the regional conference that opened on Monday in Khartoum. "Over the same period, the number of under-nourished rose from 200 million to 224 million in Africa. This...
(Reuters (Eng) 01/31/18)
KAMPALA (Reuters) - Traffic will soar above the muddy swamp between Uganda’s capital and its international airport when a new Chinese-built highway opens in a few months time, but the road itself is mired in controversy. The government has partly funded the 51-km (30-mile) $580 million expressway with a loan, part of $11 billion in borrowings in the decade since the World Bank canceled debts about a third that size as part of debt relief for poor states. Uganda says...
(Reuters 01/03/18)
KAMPALA (Reuters) - The Ugandan shilling was stable on Tuesday and traders said potential lowering of rates by the central bank could curb hard currency inflows from offshore debt investors this year. At 0824 GMT, commercial banks quoted the shilling at 3,635/3,645, unchanged from Friday’s closing level. Last year, the currency of Africa’s biggest coffee exporter was mostly stable in a band of 3,550-3,650 against the dollar, supported by export earnings and foreign funds investing in the local debt market...
(AFP (eng) 11/21/17)
US authorities have arrested Hong Kong's former home affairs secretary and the ex-foreign minister of Senegal for leading a multimillion dollar bribery scheme in Africa on behalf of a top Chinese energy company, with some deals arranged in the halls of the United Nations. US officials announced Monday that former Senegalese top diplomat Cheikh Gadio and Hong Kong's Patrick Chi Ping Ho sent huge bribes to high-level officials in Chad and Uganda to secure business advantages for the Chinese company...
(Xinhuanet 11/17/17)
The East African Community (EAC) member states are set to ratify the avoidance of double taxation treaty in order to boost regional integration, a Kenyan official said on Thursday. Barrack Ndegwa, Regional Integration Secretary in the Ministry of EAC, Labor and Social Protection, told Xinhua that heads of states of the EAC have already signed the protocol on double taxation. "What is now remaining is each of the six member states to individually ratify the treaty so that it is...
(Xinhuanet 11/17/17)
Sino-African relations have entered a new development stage of win-win cooperation, according to the fifth Biennial Conference of China-Africa Industrial Forum (CAIF) that opened here Thursday. Supporting Africa's industrialization and capacity cooperation are of vital importance in the next five years and Sino-African trade is likely to total 180 billion U.S. dollars in 2017, said CAIF secretary general Cheng Zhigang in the opening speech. Sino-African economic and trade cooperation has great potential, said Cheng. China has been Africa's largest trading...
(Reuters (Eng) 11/14/17)
KIGALI (Reuters) - The global airline industry has $1.2 billion blocked in nine dollar-strapped African countries, the International Air Transport Association (IATA) said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. Low oil and mineral prices have reduced government revenue and caused chronic dollar shortages and immense pressure on local currencies. The fiscal slump has meant governments have not allowed foreign airlines to...
(Reuters (Eng) 10/31/17)
HARARE (Reuters) - Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South African are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the tenure of their leaders. The IMF said a...
(BBC News Africa 10/25/17)
In a move denounced as a bribe, Ugandan MPs have received a one-off payment of 29 million shillings ($8,000; £6,000) each for consulting their constituents on a bill seeking to scrap the presidential age limit, the Reuters news agency reports. The proposed bill seeks to remove the upper age limit of 75 and is seen as a way of removing constitutional barriers that would prevent President Yoweri Museveni, 73, from running for office gain in 2021. Parliamentary spokesman Chris Obore...
(AFP (eng) 10/18/17)
Rent-a-room giant Airbnb said Tuesday that it had provided accommodation for 1.2 million visitors to Africa over the last year -- double the previous year as tourism expands across the continent. The website now offers more than 100,000 accommodation options in Africa, global public affairs director Chris Lehane said on a visit to Johannesburg. "It's an incredibly rich and diverse continent, an incredibly dynamic place, certainly a big part of our future," Lehane told AFP. Airbnb was founded in 2008...
(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...
(Reuters (Eng) 10/10/17)
CAPE TOWN (Reuters) - Nigeria’s Oranto Petroleum has signed two production sharing agreements with Uganda to explore for oil and gas around Lake Albert, the company said on Tuesday. Oranto was among several companies, including Australia’s Armour Energy, that last year bid in Uganda’s first competitive oil exploration licensing round. “We are excited to enter this agreement ... Lake Albert is home to some prime petroleum acreage,” Prince Arthur Eze, chairman of Oranto Petroleum, said in a statement. The deal...
(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...
(APA 10/05/17)
APA:Juba (South Sudan) - South Sudan and Uganda have signed an agreement to extend electricity from Uganda to the border areas, reports said on Thursday. According to the agreement, Uganda will extend electricity inside South Sudan border towns of Kaya, Kajo-keji (former central equatoria state, Southern East) and Nimule (formerEast Equatoria, South). Local media reports said both countries will form a joint technical committee to quantify the scope of work. The Minister for electricity, energy and dams says the move is important for socio-economic development in the country. “This can create socio-economic development, can minimize even the rural town migration,” Dr Dhieu on Wednesday...
(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...
(APA 10/04/17)
APA-Kampala (Uganda) - Uganda’s central Bank has reduced the Central Bank Rate (CBR) by 0.5 percentage points to 9.5% from 10%. The move seeks to revamp the country’s economic and private sector credit growth rate. In the monetary policy statement for October released Wedneday morning, Bank of Uganda Governor Emmanuel Tumusiime-Mutebile said: “Given that the annual inflation forecast is to remain around the medium-term target of 5 per cent and economic activity is slowly gaining momentum, a cautious easing of...
(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.

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