Browsing: Investment AFRICA

Top African Companies to watch in 2023

African companies and sectors to watch in 2023

Investing
  • Africa is host to some world class companies that investors should consider adding to their portfolio in 2023. However, the investment climate has been choppy at best and investors need to be shrewd when it comes to their portfolio investment decisions especially in 2023.
  • The investment climate was at the beginning of the year quite optimistic with the world finally putting COVID and its pandemic behind it. Investing in African companies would have been in a no-brainer given the circumstances around the world at this time.
  • Things started to go side ways when Russia invaded the Ukraine and set in motion a chain of events which have profoundly altered the global investment climate and flow if investment capital which would otherwise be directed to the top African companies.
  • The United States dollar was resurgent in 2022 nearing parity with the Euro and the Pound Sterling as the cost of living
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tourism3

Destination Nowhere: Pandemic crunch claims millions of tourism jobs 

Industry and Trade

The Covid-19 pandemic has had a devastating toll on the global tourism sector and Tanzania along with the acclaimed tourist destination of Zanzibar are no exceptions. According to the latest EABC report on the impact of Covid-19 on selected sectors, the East African Community (EAC) tourism sector has lost a shocking two million jobs between last year and this year August.

The report looked at key sectors including the Tourism & Hospitality Industry and the results are shocking if not downright appalling and calling for some kind of drastic action to resolve the situation. So when the out of work tour guide says she has no job she is only one of 2 million people out of work from the tourism industry in the EAC.…