- Kenya Airways remains in the red as loss hits historic USD290.8 million
- Kenya: Ruto urges German enterprises to invest in MSMEs
- Tanzania filmmakers’ quest to nab billions from global movie fans
- Diageo buys additional shares in EABL to become its leading shareholder
- Africa conference to discuss power affordability and access
- U.S. investment in Tanzania to grow after Samia’s policy shift
- Bamburi Cement appoints new CEO amidst dwindling profits
- Airtel Money partners with Prudential Uganda to launch affordable health insurance
Author: Joseph Kangethe
I am a journalist who is an enthusiastic tech, business and investment news writer from across Africa. There is always something good happening in Africa but most gets lost in the stereotypes. I tell the stories that matter to the Africans for Africa. Have a tip? You can contact me at firstname.lastname@example.org
Along with his diplomatic efforts, the future French President loved the country’s rich culture and has previously danced in public to the music of Fela Kuti, Nigeria’s legendary performer.
Even before his famous Ouagadougou speech, Macron established the Presidential Council for Africa, which comprised African and French representatives from fields such as entrepreneurship, health, sustainable development, sport, and culture to advise him on general issues confronting the continent.
Emmanuel Macron did not hesitate when he was first elected President of France to recognize that France has genuine interests in Africa, which he wanted to pursue through a partner-based strategy based on transparency and reciprocity.…
Angola: Huge Investment Opportunities in fossil fuels despite production decline in Africa
- During the last three decades, Angola has established itself as a top-tier destination for big oil and gas companies.
- Natural gas is an essential intermediary in the energy transition, generating fewer emissions than petroleum and coal products.
- Angola’s regulator, the ANPG, aims to attract investment from sources other than the country’s traditional oil and gas producers.
While foreign oil firms steadily abandon African hydrocarbon resources and transfer capital spending to alternate energy sources, Africa is experiencing output reductions across significant assets. The fall in oil and gas output is primarily because Integrated Oil Companies (IOCs) are affected by lobbies urging them to withdraw from fossil fuels and invest in renewables.
Understanding the Decline in fossil fuel funding
Since loans are becoming more costly, it is becoming more difficult to borrow funds for investment in exploration, development, and production (E&P). Some financial firms are beginning to limit capital accessible for these …
- The government of Mozambique has ordered retailers of food products to label in Portuguese all their products sold in the country before the end of July 2022
- Portuguese is the official language of six African countries, including Mozambique, Angola, Cape Verde, Guinea Bissau, São Tomé and Príncipe and Guinea Bissau
- Rita Freis said that this is the last year that the government will grant a tolerance for traders to label food products in Portuguese
The government of Mozambique has ordered retailers of food products to label in Portuguese all their products sold in the country before the end of July 2022.
Rita Freitas, the national inspector at the National Inspection of Economic Activities (INAE), announced this during a training seminar on the legal system of package labelling of food products.
Portuguese is the official language of six African countries, including Mozambique, Angola, Cape Verde, Guinea Bissau, São Tomé and Príncipe …
- The Africa Green Hydrogen Alliance targets accelerating the transition from fossil fuels overreliance that has made the continent reluctant, as fossil fuels drive most economies in the continent
- Green hydrogen could provide Africans with new access to cleaner energy sources, employment opportunities, public health benefits due to cleaner air, GDP creation and export revenues outside Africa
- Six African nations have formally launched the Africa Green Hydrogen Alliance. The countries include South Africa, Kenya, Egypt, Morocco, Namibia and Mauritania
Six African nations have formally launched the Africa Green Hydrogen Alliance. The Alliance aims to make Africa a pioneer in adopting cleaner energy sources by producing green hydrogen.
The countries include South Africa, Kenya, Egypt, Morocco, Namibia and Mauritania.
The countries formally launched the Alliance at the first-ever Green Hydrogen Global Assembly in Barcelona, Spain, with the support of the UN Climate Change High-Level Champions, the Green Hydrogen Organisation (GH2), …
- The current president of Tanzania is actively pursuing a foreign policy distinct from the one pursued by the late Magufuli, who served as president before her.
- Kenya and Tanzania agreed to boost their bilateral ties during the visit of President Samia, marking the conclusion of a challenging chapter marked by trade barriers and border tension.
- One year after President Samia Suluhu took office, a “softening” of Tanzania’s borders with Kenya, a reduction in non-tariff hurdles, and resolution to bilateral issues have resulted in higher commercial growth in both countries.
Previously strained relations between Kenya and Tanzania
Owing to their strained relationship, Kenya and Tanzania have not realized their goals of establishing a free trade zone for many years. The problems originated from several sources, including the closing of borders, the restriction of collaboration and the free movement of goods and services, the introduction of additional taxes, and the …
Cameroon’s telco infrastructure gaps offering multi-billion dollar investment opportunities
According to the most current known statistics, Cameroon had 9.15 million internet users in January 2021, representing an increase from 7.8 million users in the same month the year prior.
Although the fixed-line broadband industry appears to have stagnated, with only extremely sluggish growth in subscriber numbers, the national penetration rate has increased from 2 per cent in 2011 to 34 per cent in 2021. On the other hand, the number of mobile phone consumers in the country increased from 10 million in 2011 to 24 million in 2020, which encouraged growth in internet usage.
Camtel, despite its established position, was left behind by the growth in the telecom industry and is currently seeking to make amends for this lapse. It got 2G, 3G, and 4G licenses in 2020, and in April of that year, it inked a roaming contract with a rival called MTN, which allows it to utilize …
Africa: Women to spend more billions on beauty products as infrastructure spending grows
In terms of hair care, things grow more difficult because African hair differs from Caucasian or Asian hair and from nation to country. It is common knowledge that the most challenging difficulty for many African women is brushing their hair, which may be unpleasant at times.
Given these distinctions, it is easy to understand why African customers, particularly women, place a premium on Africa-specific items. Product customization is critical to winning the African war, as long as the items stay inexpensive.
Africa now contains 54 nations, with the accession of South Sudan in 2011. In 2015, the urban population consisted of approximately 450 million people, accounting for 40 per cent of the overall African population. The statistics show that Africa has become more urban than India. More Africans are expected to live in cities for the first time in the continent’s history by 2030.…
Rihanna, the global pop singer, turned billionaire entrepreneur, has announced that her Fenty range of beauty and skincare items will now be available in Africa. As a result, the African debut of the Fenty premium cosmetics line will enhance the constantly demanding beauty and cosmetics business while also putting pressure on other luxury brands vying for a slice of the fast-growing multi-billion dollar beauty market pie.
According to the Barbados-born ” Diamonds ” singer, whose birth name is Robyn Fenty, the African debut of Fenty Beauty and Fenty Skin cosmetics products, funded by French luxury goods giant LVMH, will begin in eight African markets by the end of May 2022.
“I’ve been looking forward to this moment. “Fenty Beauty and Fenty Skin are finally available in Africa,” she said on her verified Twitter account. “On May 27, we will attack Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia, and Zimbabwe,” …
- Chidi hopes that activism will eventually see European museums return all stolen artwork to Africa. However, he dreams of building a metaverse that comprises all the pieces Looty reclaims
- The Looty project started operation in November 2021 but will officially launch its website on May 13. The upcoming website will only support the purchase of NFT art via cryptocurrency
- Aside from Chidi, the project also involves two other Nigerians and a Somali, with each team member specializing in 3D design, NFT technology, or editing
- The project has already created 25 NFTs, among them the famous “Benin Bronzes” in Nigeria that were looted 125 years ago
During the pre-colonial error in Africa, a wide range of valuable artefacts were taken away to the western countries. About 60 years later, Africans feel the need to get the artworks back to preserve their history. However, one Nigerian art firm called Looty has come …
- Economic activity increased by 7.5 per cent, compared to a 0.3 per cent decrease the previous year, when operations were nearly halted due to pandemic containment measures.
- The rise in 2021 was driven mainly by improved performance in manufacturing, commerce, transportation, real estate and financial services, which gained from the re-opening of the economy.
- An estimated 926,000 new employment were generated in Kenya during the last year, supporting the country’s economic recovery.
The last year has set the pace for economic recovery following the Covid-19 pandemic. According to the Kenya National Bureau of Statistics (KNBS) data, Kenya’s economy recovered in 2021 to expand at the quickest rate in 11 years. The relaxation of Covid-19 restrictions has aided the recovery of essential industries, except for agriculture, which low rains have hampered.
Economic activity increased by 7.5 per cent, compared to a 0.3 per cent decrease the previous year, when operations were …