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AfricaMoney | December 22, 2012

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Posts By africamoney

ACP leaders send out strong message to partners at key summit

December 19, 2012 |

December 19, 2012The African, Caribbean and Pacific Group of States (http://www.acp.int) wrapped up a successful 2-day summit for Heads of States and Government on 13-14 December Read More

IMF Executive Board completes Fourth Review under the Union of the Comoros’ ECF Arrangement, and approves US$2.3 million disbursement

December 19, 2012 |

December 19, 2012The Executive Board of the International Monetary Fund (IMF) completed yesterday its fourth review of the Union of the Comoros’ economic performance under the program supported by the Extended Credit Facility (ECF). Read More

IFC Announces Partnership to Increase Access to Affordable Sanitation in East Africa

December 19, 2012 |

December 19, 2012:IFC, a member of the World Bank Group, announced support from the Bill & Melinda Gates Foundation to catalyze the market for improved sanitation and accelerate access to more affordable sanitation solutions for low-income households in East Africa. Read More

Chinese car manufacturer to set up new plant in Ethiopia

December 19, 2012 |

December 19, 2012 – African Review reports that Lifan Industry Group, a Chinese automaker, is set to invest $3.5 million in a vehicle assembly plant in Ethiopia  in 2013. According to the GM of Lifan, Liu Jiang, the motive behind the investment is the expansion of business in Africa. Read More

AfDB invests in Kenya’s young innovators

December 18, 2012 |

December, 18 2012: Last month’s conclusion of the Appstar Challenge demonstrated that Kenyan youth are the driving force of the country’s revolution in innovation and entrepreneurship. Read More

An $80 million shopping mall set to be opened in Burundi

December 18, 2012 |

December, 18 2012: A shopping complex worth $80 million is set to be constructed in Burundi’s capital Bujumbura reports African Review. The mall will be of 260 000 square metres and will host hotels, retail space and leisure facilities. Construction works are expected to start in early 2013. Read More

SOMALIA: Potential goldmine for fishermen as piracy declines

December 18, 2012 |

18 December 2012 – Rusting hulks of capsized boats decorate the waters around Berbera, a port city in the self-declared republic of Somaliland. Further down Somalia’s coast, pirates raid freighters in the Gulf of Aden.  Read More

ExxonMobil to Explore Offshore South Africa

December 18, 2012 |
  • ExxonMobil affiliate to acquire 75 percent interest in Tugela South Exploration Right
  • Agreement with Impact Africa Limited includes future exploration rights
  • Independently awarded technical cooperation permit for Deepwater Durban Basin Read More

Kenya: Forbes Africa Celebrates James Mwangi

December 17, 2012 |

Dr James Mwangi, the CEO of Equity Bank, was on Tuesday night feted at a dinner party in celebration of his winning the 2012 Forbes Africa Person of the Year award at a ceremony held earlier this month in Lagos, Nigeria. Read More

AfDB Extends $300 Million to FirstRand Bank – to Undertake Projects in Africa

December 17, 2012 |

The Board of Directors of the African Development Bank (AfDB) has approved a seven-year multi-currency line of credit for an amount equivalent to $300 million to FirstRand Bank Limited (FRB) of South Africa to finance a wide range of projects in local currencies and across Africa. Read More

Ethiopia economic update – Overcoming inflation, raising competitiveness

December 14, 2012 |

December 14, 2012Over the past decade, the Ethiopian economy has been growing at twice the rate of the Africa region, averaging, 10.6 percent GDP growth per year between 2004 and 2011 compared to 5.2 percent in Sub-Saharan Africa, according to a new report by the World Bank. Read More

HIV/AIDS effort by Olam and partners reaches out to over 234 000 people across rural Africa

December 14, 2012 |

December 14, 2012,  -In a drive to get Africa one step closer to zero new HIV infections, zero AIDS-related deaths and zero discrimination, global agri business Olam, along with NGO partners such as GIZ, EngenderHealth and Action Health Incorporated, has mobilised its supply chain network this month to get vital education and healthcare support to nearly a quarter of a million rural Africans in support of the UN’s World AIDS Day ‘Getting to Zero’ (1st December 2012).   Read More

Culligan® announces distribution agreement with CFAO Group to develop water treatment market in Africa

December 14, 2012 |

December 14, 2012- Culligan®, a leading global innovator of advanced water treatment solutions for more than 75 years, has signed an exclusive distribution agreement with CFAO to develop opportunities in the water treatment market in Africa. Read More

Equal Opportunities for Children Linked To Economic Growth in Zambia

December 13, 2012 |

December 13, 2012 : The World Bank announced yesterday that Zambia’s economy is expected to grow by 7.3 percent in 2012, slightly higher than the 6.8 percent growth rate of 2011. Read More

Ford Foundation Appoints Innocent Chukwuma to Lead Its West Africa Office

December 13, 2012 |

December 13, 2012: The Ford Foundation announced the appointment of Innocent Chukwuma as representative for West Africa, serving Nigeria, Ghana, Senegal, The Gambia, Mali, Guinea and Sierra Leone. Read More

SBTech enters African market with exclusive Betland deal

December 13, 2012 |

December 13, 2012:  DecIndustry-leading and award-winning provider of turnkey sports betting solutions, SBTech, has signed an exclusive deal with African land based operator Betland. Read More

DHL expands sea-air multi-modal offering to Africa

December 12, 2012 |

Dec. 12, 2012 /PRNewswire/ — DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL, is further boosting Asia-Africa trade lane growth by expanding its multi-modal product combining ocean freight and air freight services to eight new destinations in Africa. Read More

South Africa bids to become call center capital

December 12, 2012 |

South Africa has the ambition to become the call centre capital of the world. Companies like Amazon and Aiegis are among the big brands have now call centres operating from South Africa. Coracall, a British company has recently opened a call centre in South Africa, preferring it over Indian and the Phillipines. Read More

FirstBank, Bestman Games promote financial literacy through Lagos Monopoly

December 12, 2012 |

12th December 2012: Inculcating financial literacy in youths through the Lagos Monopoly game will give them a head start in the quest for a fulfilled future and facilitate the emergence astute managers of Nigeria’s economy in future, Mrs. Folake Ani-Mumuney, Head, Marketing and Corporate Communications, First Bank of Nigeria Limited has said.  Read More

First Ericsson LTE network built in Africa

December 12, 2012 |
  • Users to have access to high-performance broadband services
  • Services including design, installation, integration commissioning, tuning  and optimization
  • Network transformation and RBS 6000 family at heart of deliveries Read More

AfDB Approves New Funds for Ethiopia-Kenya Power Project

December 11, 2012 |

Photo: Gabriel Negatu

Addis Ababa — The African Development Bank (AfDB) has approved a loan agreement amounting US$115 million to finance the construction of a cross-border electricity highway running between Ethiopia and Kenya. Read More

Ecobank To Buy Investment Bank

December 11, 2012 |

Photo: Anthony Okpanachi

Ecobank Kenya is taking steps to purchase an undisclosed local investment bank as part of plans to facilitate Ecobank involvement in oil, gas and energy deals. Read More

Mobile Money Agents to Help Tanzania Up Banking

December 11, 2012 |

Prof Benno Ndulu

Dar es Salaam — Tanzania is expected to embark on utilizing the ubiquitous mobile money agents as conduits for opening and operating basic banking services and avoiding expenses over single dependence on branch network expansion. Read More

Top CEOs call for joint effort to halt SA ‘decline’

December 11, 2012 |

Picture: Ralph Mupita

THIRTY-three prominent business figures from several leading South African companies on Sunday boldly called for unity among businesses to arrest a decline in confidence in South Africa’s future, warning the country could “unravel” if challenges in education, corruption and unemployment were left unresolved. Read More

Toys ‘R’ Us and Reggies changes ownership

December 11, 2012 |

JOHANNESBURG – Toys ‘R’ Us and Reggies new owners saw the opportunity of moving from the distribution of toys and baby products to selling them to the rest of Africa when its founders decided to sell Redgwoods, the owner of these companies five months ago. Read More

U.S. – Nigeria Trade Hit $38.5 Billion in 2011

December 11, 2012 |

Photo:  Assistant U.S. Trade Representative for Africa Florizelle B. Liser

The United States and Nigerian trade volume has been valued at $38.5 billion for 2011, with nearly 12 percent increase from 2010, largely due to higher oil export volumes and prices. Read More

Senegal: Bumper grain harvest expected in the South

December 8, 2012 |

December, 2012: All Africa reports that farmers in the south of Senegal, particularly from the Kolda region, are expecting a good harvest of grain this year. The farmers are hoping to sell their harverst, expected to be in thousands of tones, to local and regional markets. Read More

Ethiopian Wins International Diamond Prize for Excellence

December 8, 2012 |

Ethiopian Airlines is pleased to announce that it has been awarded the International Diamond Prize for Excellence in Quality by the European Society for Quality Research (ESQR) on December 2, 2012 in Brussels. Read More

World Bank: “African cities can become more sustainable and resilient by better water management”

December 8, 2012 |

December ,2012: As Africa urbanizes at a faster rate than any other region in the world, a more integrated approach to urban water management is needed to solve complex water challenges in Africa’s teeming, Read More

Investment in power sector can improve growth and competitiveness in Kenya

December 8, 2012 |

December, 2012: Agreements for the Triumph Power Generation Company, a new independent power producer, were signed this week between the Government of Kenya, Kenya Power, JP Morgan Bank, and the World Bank for a $45 million Partial Risk Guarantee (PRG).  Read More

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