Author: Francis Mwema

Tourism and education sectors are the prime areas that the government of Rwanda is looking forward to develop through cooperation with the government of Seychelles , this is according to the newly accredited high commissioner of Rwanda to the Island nation.

Major General Charles Karamba presented his credentials to President Wavel Ramkalawan at State House in the capital city of Victoria.

Speaking today April 27, Charles Karamba said that the two countries enjoy an excellent good relations adding that Rwandan President Paul Kagame was amongst the first to congratulate Seychelles’ head of state when he assumed power six months ago.

The high commissioner who was speaking to the media said that among other key areas of co-operation Tourism was the top most Agenda between the two African Nations.

“Seychelles is highly developed in the tourism industry. Rwanda is doing a great job. There is a lot that we need to …

Few months after taking over the Tanzania’s presidency seat following the Death of the fifth President Dr. John Pombe Magufuli, President Samia Suluhu was in parliament to address the Tanzanian Legislators on his development road-map.

During the address President Samia announced his key areas of focus to achieve the grand development plan for Tanzania’s economic transformation in the next five years, emphasizing empowerment and job creation.

“We intend to focus more on economic growth. We will continue the good work achieved during the previous administrations, change where necessary but with a view to promoting efficiency and productivity, guided by the national, regional and party manifestos,” she said

“Last year, our nation managed to enter the middle-income category where the per capita income increased to $1,080 from $1,036. It is a great achievement, but more effort is needed to accelerate the economy,” she added

Just like any other country , the …

Over a couple of decades, cash and mobile app money transactions such as M-Pesa have dominated the financial space, but with its growth, there is a new collaboration with Fintechs set in place to capture the price-sensitive market with improved innovation and open-loop digital solutions in East Africa.

Financial technology (Fintech) is used to describe new technology that seeks to improve and automate the delivery and use of financial services. ​​​At its core, fintech is utilized to help companies, business owners, and consumers to better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones.

The International President of Ukheshe Technologies Mark Dankworth, firmly believes that the region is poised for a surge in digital banking growth, with the likes of MCQR and virtual cards likely to make the biggest impact.

This follows the Kenyan retail-tech startup, Tanda which …

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Definition Of Forex Trading

Forex trading is one of the most popular markets to trade. It is easy to start, and you can take advantage of a market that is open 24/5. All you need is knowledge of what makes …

About $6.1 billion is spent yearly to import wheat into Nigeria according to the Wheat Farmers Association of Nigeria.

Wheat is the only grain that is yet to record significant progress since 2011, with many farmers now going out of production. Despite being high in demand, successive administrations in Nigeria failed to improve its production, prompting some farmers to call it “political crop” because they believe its neglect is political; not economical. Statistics from World-Grain show that in 2017 Nigerian wheat was valued at $15.5m, up from $13m in 2016. The figure increased to $16m in 2018 and a further increase in production to the value of $16.3m.

Speaking to a press conference on Thursday 22, 2021 in Abuja the president of  the wheat association Alhaji Salim Muhammad, while issuing a report on the state of  the wheat in the country hailed the Central Bank of Nigeria (CBN) over  various …

Absa group in a shocking decision move closed down Absa Money Market Fund (AMMF), worth around $5,623,236,000. But according to the Prudential Authority [PA], they had no concerns regarding the group’s decision after its long engagements with the bank since last year.

The bank’s official line is that its decision to close the fund was based on an independent review that found clients believed investments in the fund enjoyed the same safety guarantees as cash held in a bank account. This was partly due to the fund’s rather unusual integration into Absa’s banking system as it allowed investors to make withdrawals from the fund directly from ATMs not a typical feature of most unit trusts.

The South African Reserve Bank (SARB) said the Prudential Authority (PA) had a number of engagements with Absa Group (AGL) during the course of 2020 and 2021 on the proposed closure of the Absa Money …

While Nigeria is the largest exporter for Sesame seeds, there’s still a lot of untapped potential of the lucrative export business this even as the seeds demand increases  globally.

According to United states market based research report known as Hexa Research the Global sesame seeds market size is expected to hit $17.77 billion by 2025.

The fueling market demand was associated with its Increased application of the product as an anti-oxidant in various pharmaceutical formulations.

With the world production of Sesame seeds estimated to be 4. 8 million tonnes, ten [10] countries accounts for over 80% of it which includes Myanmar, India, China, Tanzania, Sudan, Ethiopia, Nigeria, Burkina Faso, Uganda, and Niger.

Africa, accounts for over 45 per cent of the crop, and in the last 10 years has become as a fast-growing supplier of sesame seed in the world market.

Of the Sesame seeds global production, over two million …

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group (WBG), expressed its commitment to support vital development sectors in Egypt, which includes energy and transportation, as well as building on successful partnerships, especially Aswan’s Benban Solar Park project.

Aswan Benban Solar park is a photovoltaic power station with a total capacity of 1650 MWp which corresponds to an annual production of approximately 4TWh of power with the project taunted to prevent two million tonnnes of carbon dioxide emissions a year.

The Commitment by the world bank to support Egypt’s mega project came during a virtual

meeting held on Sunday between MIGA officials and Egypt’s Minister of International Cooperation Rania Al-Mashat to discuss strengthening partnerships with the private sector and developing the transportation and electricity sectors.

Among those who attended the meeting included high-level officials among them Merza Hassan, executive director of the World Bank Group; Ragui …

The African Private Equity and Venture Capital Association (AVCA) released its sophomore Industry Survey drawing African Limited Partners and General Partners commitment to African investment as long-term.

The survey report that was released on April 15, was conducted in review of broad cross-section of global and African Limited Partners’ (LPs) and General Partners’ (GPs) to determine perspectives and attitudes of investing in African private equity (PE) across various categories, sectors, geographies, investment stages, challenges, and returns.

According to the survey report, Majority of Limited Partners (86%) plan to raise or maintain their allocation to African Private Equity {PE} over the next three years, with impact and the investment mandates viewed by most Limited Partners as the primary factors driving their investment approach.

ALSO READ: Investing in Africa: Trends driving Private Equity and Venture Capital in Africa

65% of Limited partners said that the African Private Equity {PE} attractiveness remained the …

The state government of Lagos will launch a five-year Agriculture Development Roadmap in line with its mission development agenda Strategy on Thursday April 22, 2021.

Explaining this to the media Ms. Abisola Olusanya the State Commissioner for Agriculture in Lagos said that the Roadmap will steer their goals and help the State achieve its goal of making Lagos a 21^st Century Economy.

The Roadmap will focus on the development of agricultural value chains where the State has competitive and comparative advantages of ensuring that the State attains its food security goals.

“I am delighted to address you today and avail you of the forthcoming launch of the five-year Agricultural Development Roadmap for the Ministry which is slated for launch by the State Governor, Mr. Babajide Olusola Sanwo-Olu next week Thursday.

This bold step which will be taken by the Governor Babajide Sanwo-olu-led Lagos State government to launch a five-year …