Wednesday 13 December 2017
(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 partner since 2009. Chinese investments in Africa exceeded 100 billion dollars in 2016, about 50 times as much as in 2010. China's investments in Africa have also diversified in business areas, from construction and mining...
(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 repatriate their dollar profits in full. At an aviation meeting in the Rwandan capital, IATA’s Vice President for Africa, Raphale Kuuchi, said that airlines were in talks with “a few governments to unblock airline funds”. He did not specify the...
(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...
(Xinhuanet 10/19/17)
Transit volumes for Zambia via Namibia's Port of Walvis Bay grew by 15 percent over the last financial year, reaching a new high of more than 40,000 tonnes for September 2017, according to Walvis Bay Corridor Group (WBCG) CEO, Johny Smith. Through the recent figures, it is evident of the growing confidence on the Walvis Bay-Ndola-Lubumbashi Development Corridor (WBCNLDC), especially the Zambian market, Smith said Wednesday. According to Smith, since the inception of this route more than a decade ago,...
(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...
(APA 10/13/17)
APA-Harare (Zimbabwe) - Zimbabwe’s integrated beverage company Delta Corporation is close to finalising a deal in which it will acquire a majority stake in Zambia’s National Breweries Plc, the company announced on Friday. Delta Corporation company secretary Alex Makamure said in a notice to shareholders that the equity was being acquired from Heinrich’s Syndicate, a subsidiary of Anheuser-Busch InBev SA/NV (AB InBev). “Delta Corporation is finalising a transaction to acquire a controlling stake in National Breweries Plc (Natbrew), the Zambian...
(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...
(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...
(Zambia Reports 09/29/17)
The 2018 National Budget will take the focus today as Finance Minister Felix Mutati presents it before parliament. Zambians will keep their ears at parliament buildings looking out for what benefits may accrue to them in the budget. Workers are forever looking out for the tinkering in payee and other taxes as Mutati would be making his presentation. Of concern will be the allocation going to the education, health and social sectors that touch the most lives. In last year’s...
(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...
(Zambia Reports 09/28/17)
Zambian journalist Edem Djokotoe has taken aim at China's casino investments littered across the country arguing it is one of the worst social ills to happen. Djokotoe, posting on his Facebook page, wonders how China was allowed to channel heavy investment into gambling when it had outlawed the trade among its people. "The biggest Chinese investment in Zambia today is The Casino. "Every small town and district I have travelled to in all the provinces have gambling centres run by...
(Lusaka Times 09/28/17)
Zambia Weights and Measures Agency (ZW&MA) has seized about one Hundred underweight loaves of bread from a Shoprite outlet in Ndola to ensure that there is no risk of supplying underweight bread on the market. In a statement to Pan African Radio news, Zambia Weights and Measures Agency Public Relations Officer Mutale Chileshe said the Agency decided to carry out an inspection after receiving complaints from members of the public over suspicions of underweight bread from the retail outlet. Mr...
(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...
(Xinhuanet 09/21/17)
Zambia, Africa's second biggest producer of copper, saw export earnings from the red metal increasing by 49.7 percent in the first half of 2017, figures released by its finance ministry said on Thursday. Earnings from copper earnings rose to 3,165.9 million U.S. dollars during the first half of 2017 from 2,114.3 million dollars over the same period last year, according to figures published in the 2018-2020 medium term expenditure framework released by the ministry. This has been attributed to an...
(Reuters (Eng) 09/19/17)
Zambia will resume talks with the International Monetary Fund on an aid program in October and hopes to get IMF board approval by the end of the year, one of its finance officials said on Tuesday. The country , which is Africa’s second-biggest copper producer, has suffered from the steep commodity price drop of recent years. Last March, it began talks with the IMF about a potential loan package after agreeing that its budget deficit was not sustainable. “The engagement...
(Bloomberg 09/19/17)
Zambia borrowed $134 million from Standard Chartered Plc to help fund the road sector, according to a finance ministry official. The borrowing plan was included in the 2017 budget, Mukuli Chikuba, permanent secretary at the finance ministry, said in a text message on Tuesday. The loan is the second that Standard Chartered has arranged for the government since a $450 million syndicated deal in the first half of 2016. Five new loans worth $296 million were contracted in the first...
(Bloomberg 09/19/17)
Zambia is seeking bidders for a fourth mobile-network license to take on operators including market leader MTN Group Ltd. in the southern African country, Transport and Communications Minister Brian Mushimba said. The ministry last week gave the go-ahead to the telecommunications regulator to start the process, he said in a recorded response to questions on Monday. The new carrier could be in place over the next six to 12 months and the country may even have capacity for a fifth...

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