| Africatime
Friday 28 April 2017
(AfricaNews 04/28/17)
Sub-Saharan Africa’s growth is showing signs of recovery this year after a tumultuous period in 2016. The World Bank estimates that GDP growth will rise to 2.6 percent in 2017 compared to 1.3 percent last year and rise further to 3.2 percent in 2018 and 3.5 percent a year later. “Sub-Saharan Africa is projected to grow at a moderate rate of 2.6 percent in 2017, and somewhat improve towards three percent in 2018. This timid recovery is certainly better than the 1.6 percent we had in 2016, the lowest in a decade, but it is still below population growth in Africa,” said Albert Zeufack, Africa region chief economist at World Bank. Sub-Saharan Africa is projected...
(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 use, the consumer behaviours driving increased smartphone adoption and the role of mobile brands, mobile operators and m-commerce in creating a synergy of an enhanced customer experience. This year’s Mobile Africa Study was carried out in 15 African countries which...
(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...
(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...
(APA 04/04/17)
The Director General of the Senegal Airports Agency (ADS), Papa Mael Diop, has announced the allocation of CFA 100 billion by the government to modernize regional airports across the country. “In its policy aimed at strengthening and modernizing regional airports, Senegal will disburse CFA100 billion to upgrading aerodromes. This will help boost tourism,” Diop told a press briefing organized by Corsair Airline on Monday as part of events marking Senegal’s 57th independence anniversary. According to Mr. Diop, ADS intends to...
(APA 04/04/17)
The competitiveness of the Senegalese economy in January 2017, improved by 0.5 percent in monthly variation, according to the Directorate of Forecasting and Economic Studies (DPEE) in a statement on Tuesday. “This result can be attributed to the favorable inflation differential (minus 0.7 percent), which is weakened by the relative appreciation of the CFA franc against partner countries’ currency (plus 0.2 percent), DPEE added. Alongside the West African Economic and Monetary Union, a 0.5 percent loss of competitiveness was witnessed...
(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...
(APA 04/02/17)
The price of a kilogram of wheat flour in Senegal declined by 4.9 percent in February 2017, compared to the previous month, APA can report from the Directorate of Forecasting and Economic Studies (DPEE). On the local market, the commodity traded at CFA389 (about $0.62) during the period under review. On the international market, the price of French soft wheat in February 2017 remained firm for the second consecutive month. On a monthly basis, it rose by 0.8 percent. In the first two months of 2017 French soft wheat prices strengthened by 8.8 percent, compared to the same period in 2015.
(APA 03/31/17)
The rehabilitation and upgrading of Senegal’s regional aerodromes will be launched through the course of the current year, Maimouna Ndoye Seck sad at the opening of the Air Transport Days in Dakar on Thursday. This first phase of the renovation of regional airports covers five regions in Senegal namely Saint Louis, Ziguinchor, Matam, Tambacounda and Kedougou, according to Ms. Seck. The rehabilitation of regional aerodromes forms an integral part of the “Sub-regional Air Hub Project,” as well as the launch of the Senegalese national carrier, Air Senegal (SA) and the Blaise Diagne International Airport at Diass
(Agence Ecofin 03/28/17)
In Senegal, the government invested CFA30.2 billion in the 2016-17 groundnut campaign. This was revealed by the minister of agriculture and rural equipment, Papa Abdoulaye Seck. In regards to the profits that the investment will bring about, the official said so far 417,000 tons of the crop have been harvested. Of this volume, 188,000 tons have been exported while 128,000 tons were sold to peanut oil producers. The latter represents an increase of 89,000 tons compared to the previous season...
(APA 03/23/17)
The Board of Directors of the West African Development Bank (BOAD), has approved new financings estimated at nearly CFA138 billion, a statement from the financial institution seen by APA on Thursday suggests. The board made the decision during its 104th regular session in Dakar, Senegal on Wednesday. "After approving the report of its 103rd meeting held in Bamako, Mali on 14 December 2016, the Board approved BOAD's accounts for the year ended December 31, 2016, submitted for the approval of...
(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...
(APA 03/16/17)
The business climate in Senegal improved markedly at the end of the fourth quarter of 2016 compared to the previous one, the Directorate of Forecasting and Economic Studies (DPEE) said on Thursday. The indicator which synthesizes the opinions of business leaders was up by 30 percentage points quarterly to stand at 117 points against 87 points in the third quarter of 2016. On a disaggregated basis, the indicator gained 12 points in the industry, 14 points in building and public works, 15 points in services and 19 points in trade, the Dakar-based body added.
(APA 03/16/17)
Salaried employment in Senegal’s modern sector rose 3.7 percent by the end of the fourth quarter of last year, comparing favourably against the previous quarter, APA can report Wednesday from the Directorate of Forecasting and Economic Studies (DPEE). “This dynamic is driven by the tertiary and secondary sectors, which have recorded 5.4 percent and 2.1 percent increases respectively,” the DPEE added. Changes in the secondary sector were driven by an increase in the number of employees in almost all industries,...
(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,...

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