Eighth Africities Summit commences in Morocco

The 8th Africities Summit officially took off on Tuesday, 20 November 2018, in Marrakech, Morocco, under the theme: ‘Transition to Sustainable Cities and Territories: The Role of Africa’s Local and Regional Authorities’. The Africities 2018 Exhibition was scheduled to be inaugurated just after the official opening ceremony that Tuesday. This is now to be followed by several sessions on ‘Campaign Mobilization: African Cities without Children…

South Korea to invest $5billion in Africa’s economies

South Korea to invest $5billion in Africa’s economies South Korea has pledged to provide US$5billion financial cooperation package over the next two years to aid economic development in Africa. The Director of Korean Cultural Centre in Abuja, Sungrae Han, in a statement, said the South Korean government made the commitment at the just concluded Korea-Africa Economic Cooperation (KOAFEC) meeting.The meeting was on the sidelines of…

Trade officials from Africa descend on Busan

Trade officials from Africa descend on Busan Economy-related ministers from 35 African countries gathered in Busan on Monday to discuss ways to bolster the continent’s industrialization, improve economic cooperation with Korea and explore new business opportunities. The 53rd annual meeting of the African Development Bank will run until Friday in the southeastern port city under the theme ” Accelerating Africa’s industrialization”. The Busan meeting is…

Ethiopia, South Africa to Elevate Bilateral Relations

Ethiopia, South Africa to Elevate Bilateral Relations Ethiopia and South Africa are working to boost trade and investment, integrate their economies, says Ambassador Dr. Shiferaw Teklemariam. Ambassador Dr. Shiferaw, approa ched by The Ethiopian Herald, said that the total trade volume between Ethiopia and South Africa stood at more than 166 million USD in 2016, a figure much lower in relation to the potential. “Growth…

Namibia looking to West Africa for trade

Namibia looking to West Africa for trade   Magreth Nunuhe Windhoek – Namibia is eyeing lucrative markets in West Africa where there is potential for trading in certain food products, beverages, and beef, while also exploring service markets in Central Africa and Anglo-African countries, such as Kenya, according to the Minister of Finance Calle Schlettwein. “We believe Angola and the DRC (Democratic Republic of Congo)…

Doing business in Africa

Trade between African countries needs to happen faster and be more cost-effective, as opportunities grow and businesses mature. “Africa is the most resource rich continent on the planet, yet the economies of Europe and the United States are still much bigger. We believe that the key to growing Africa’s economy is to remove the barriers to doing efficient business,” says Michelle Olckers, managing partner at…

Africa: World Bank Scheme to Support Africa’s Top Digital Entrepreneurs

The World Bank Group has launched a five-month business acceleration programme, dubbed XL Africa, designed to support 20 most promising digital start-ups from Sub-Saharan Africa. The start-ups will receive mentoring from international and local experts, acquire skills through a tailor-made curriculum, grow their regional visibility, and have access to potential corporate partners and investors. With support from prominent African investment groups, XL Africa will help…

How Multinationals Can Grow in the Middle East and Africa

Despite President Donald Trump’s “America first” approach to dealing with U.S. businesses investing abroad, and despite his administration’s rhetoric about the Middle East and Africa (MEA) region (e.g., strong opposition to the Iran nuclear deal; a ban on travelers from several Muslim-majority countries), many companies are still looking to invest in the region. Since Trump was elected, Dunkin Donuts has opened its first outlet in…

Morocco- Marubeni, First Japanese Company to Obtain Casablanca Finance City Status

Casablanca- Japanese integrated trading and investment business conglomerate Marubeni obtained the Casablanca Finance City (CFC) status for their new Casablanca office, according to La Tribune Afrique. The group opened this office in order to strengthen their development in Africa. Indeed, they are present in many African countries including Cte d’Ivoire, Angola, Ethiopia, Kenya, Algeria, Nigeria, Libya, Ghana, #Mozambique and South Africa. ‘Our Casablanca office will…

AccorHotels to operate first Fairmont in Morocco

Fairmont Royal Palm Marrakech. AccorHotels has announced the signing of a hotel management agreement (HMA) with New Mauritius Hotels Limited, which will see the relaunch of an existing Morocco resort property under the Fairmont Hotels & Resorts brand by May 2017. The reflagging of the property, now named Fairmont Royal Palm Marrakech, marks a significant step for the luxury brand in Africa with its first property in…