Month: November 2019

For years, Zimbabwe has faced strict trade restrictions as the international community felt there was a gross violation of human rights and political freedoms. This has left Zimbabwe alienated from the league of nations as well as low international trade.

But now, the political times have changed and Zimbabwe is now declaring that it is open for business. The country is committed to creating conducive conditions and incentives for investors, according to Zimbabwean President H.E. Emmerson Mnangagwa.

Speaking at the just-concluded Global Business Forum Africa 2019 in Dubai, Mnangagwa discusses economic reforms in Zimbabwe and new business opportunities emerging across the country.

During an interactive session on the first day of the forum, H.E. Mnangagwa explained that economic zones are being created in Zimbabwe as the government looks to attract foreign investment. He stressed the importance of developing new initiatives that invest in skills development and human capital.

His …

Kenya has been chosen to host the African events around antibiotic use with increasing concerns about the effects of the misuse of these vital remedies and the impact it is having on public health.

It is the first time for the Regional Tripartite, including the Food and Agriculture Organization of the United Nations (FAO), World Organisation for Animal Health (OIE), and World Health Organization (WHO), and the African Union, specifically Africa Center for Disease Prevention and Control (Africa CDC) and AU Interafrican Bureau for Animal Resources (AU-IBAR), to jointly organize the World Antibiotic Awareness Week.

Antimicrobial Resistance (AMR) is a major global threat of increasing concern to human and animal health. Antimicrobial resistance happens when microorganisms (such as bacteria, fungi, viruses, and parasites) change and become resistant to antimicrobial drugs (such as antibiotics) to which they were originally susceptible to. This can be due to different factors such as the …

The Tanzanian informal sector is one of the leading employers’ spheres and a rather pool for mushrooming local or indigenous knowledge and creativity, which eventually remains dormant, and not analyzed keenly.

Available data of the past shows how the informal sector bears merit to the convectional economy if utilized effectively. The International Labor Organization data points out that, non-agriculture jobs in the informal economy represent 66 per cent of all employment in Sub-Saharan Africa (SSA).

Further, about 74 per cent of women are within informal employment boundaries, compared to 61 of the males. Data published by Statista, show that agriculture sector—which has been attracting a multitude of the Tanzanian un-employed population, has been the leading employment sector since 2008, where it scored 73 per cent, today it stands at 66.35 per cent.

In August this year, Tanzanian’s National Bureau of Statistics (NBS) and Ministry of Finance and Planning, did a …

Etion limited aims to grow its client network and sell high-tech digital solutions during the Outward Trade and Investment Mission (OTIM) to Abidjan, Côte d’Ivoire.

The department of Trade and Industry is organizing the OTIM mission whose aim is to profile and market South African expertise and capabilities to an important and strategic Francophone country such as Cote d’Ivoire so as to advance the levels of intra-Africa trade and investment.

Mr Teddy Daka, the Group Chief Executive Officer for Etion, says that the company seeks to identify potential partners that can represent them in the Western African market to achieve their ambitions of growing significantly beyond South African borders.

“As we have never been in Cote d’Ivoire before, this mission will also be a good opportunity to get a view of the economic landscape and to meet with different entities that may be interested in our products and …

Nigeria’s high food prices pushed annual inflation last month after borders with neighbouring countries were closed in a crackdown on smuggling.

In August, Nigeria closed parts of its borders to fight smuggling of rice and other goods.

The head of customs confirmed last month that all trade in goods through land borders had been halted indefinitely.

On Monday the National Bureau of Statistics said, Nigeria’s annual inflation was 11.61% in October a rise from 11.24% in September, noting that it is the highest rate since May 2018.

A separate food price index showed inflation at 14.09% in October, compared with 13.51% September.

“This rise in the food index was caused by increases in prices of meat, oils and fats, bread and cereals, potatoes, ham and other tubers, fish and vegetables,”  said the statistics office in its report.

The chief economist for Africa and the Middle East at Standard Chartered, Razia …

Equity Bank is in the final stages of completing its takeover of the Banque commercial du Congo (BCDC).

The acquisition follows an agreement with the majority shareholder—George Arthur Forrest and family to acquire all the 625,354 shares (66.53 per cent) owned by the Belgian at a cost of $105 million.

The government of the Democratic Republic of Congo owns 25.53 per cent while other minority shareholders own the remaining 7.94 per cent shares.

The price of the transaction includes dividends declared after January 1, 2019, in respect of the financial year ending December 31, 2019, transpiring to dividend price per share of $ 167.9 per share.

In a statement, Equity Bank Chief Executive James Mwangi said the acquisition provides more motivation for it to push ahead with its 2024 dream of converting into a pan African bank.

“This is an opportunity for the Group to take further steps towards …

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A wonderful serenity has taken possession…

Swissport Kenya Limited, the logistic firm based in Nairobi has been crowned as the company of the year at the Aviation Business Excellence Awards (ABEA) 2019 which took place on Friday, November 15, 2019.

The Hilton Garden Inn, which was ABEA 2019 company of the year first runners up also emerged top in the hospitality Services -hotels category. The Kenya Plant Health Inspectorate Service (KEPHIS) won in the government services category followed by the Kenya Revenue Authority.

Feted at an African themed gala dinner held at the Emara-Ole Sereni Hotel and which was attended by over 350 industry stakeholders, Swissport also won in the ground handling services category. Trade Winds Aviation Services were first runners up.

Speaking at the event, Alex Gitari, the acting Managing Director and Chief Executive Officer at Kenya Airports Authority (KAA) said, “Since ABEA 2018, we continue to see a growing interest in participating companies. I …

Dubai Chamber of Commerce and Industry has announced that it has signed a memorandum of understanding (MoU) with the General Directorate of Residency and Foreigners Affairs (GDRFA) and Dubai Free Zone Council to launch the “Be Part of Dubai” initiative which will see 200 prominent African investors receive UAE Golden Residency Visas.

The MoU, signed at a launch ceremony held on the sidelines of the Global Business Forum Africa 2019 in Dubai, supports ongoing efforts to attract and retain high net worth businessmen from Africa by providing them with an easy and streamlined way to obtain long-term visa residency visas and significantly contribute to Dubai’s economy.

The initiative aims to improve investor confidence in Dubai, by providing more certainty and flexibility for African investors and their families who plan to live or travel to Dubai, while it’s also expected to facilitate and boost investment flows between the emirate and the …

Twiga Food, the Kenyan company which is increasingly getting the attention of key global investors has attributed the growth to the manner it incorporates staff in partial ownership of the company that drives growth.

The company CEO and co-founder Peter Njonjo spoke at Dubai during the Global Business Forum Africa 2019 where African businesses are pitching their ideas to Emirati investors.

Njonjo noted that currently there are 8 people in management who receive stock options and expressed his hope that during their next round of raising capital, they want to increase this number of staff to 30 people.

“Empowering your employees to be entrepreneurs within the business is imperative to its success,” added Njonjo.

When asked what made him leave the comfort of a multinational company to venture into the world of entrepreneurship, Njonjo replied: “It got to a point where there were a good number of investors who were …