Africa: Ethiopia about to topple Kenya as the biggest economy in East Africa

Ethiopia about to topple Kenya as the biggest economy in East Africa Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure that has kept the Horn of Africa nation on the list of the world’s fastest-growing economies in the past 10 years. The International Monetary Fund’s (IMF) latest statistical estimates indicate that Ethiopia’s […]

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News: Nigeria, Egypt, South Africa named richest countries in Africa

Nigeria, Egypt, South Africa named richest countries in Africa Nigeria, Egypt, and South Africa have been named as the three largest economies in Africa, a continent with some of the world’s poorest nations. Trade, agriculture, human resources, and industry are the major components of the African economy. As of 2012, Africa housed 1.07 billion people in the 54 countries of […]

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Africa: First Nigerian-made toothpick company to create 2,000 Jobs-NDE

First Nigerian-made toothpick company to create 2,000 Jobs-NDE About 2,000 new jobs would be created through the local production of pencil and toothpicks, Acting Director General of National Directorate of Employment (NDE), Kunle Obayan has said. Speaking in Akure, the Ondo State capital at the commissioning of toothpick manufacturing firm established by a Fishery graduate of the University of Ibadan, […]

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Africa: MTN, Shoprite, UBA, Dangote are the Biggest Investors in Africa-Study.

By Samuel Nwanze, Never have the stars been more aligned for African businesses as they are now. Rising disposable incomes, a young and talented population, growing urbanization, and an increasingly robust business climate have all combined to produce an emerging middle-class that is poised to drive consumption, innovation, industrialization and trade. Global investor confidence in Africa is higher than it […]

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Africa: Kenya Overtakes South Africa as Biggest Investor in African Countries

Kenya overtook South Africa to become the biggest investor in other African countries in terms of the number of projects in 2015. Kenya invested in 36 projects last year in other parts of the continent against South Africa’s 33, a new study by financial consulting firm Ernst & Young shows. It noted that most of Kenya’s intra-Africa investments went into […]

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African Economy: South Africa overtakes Nigeria as largest economy in dollar value

Nigeria has lost its position as Africa’s largest economy to South African in dollar terms. This came as the rand recorded gains to close at 13.2805 per dollar, with the naira weakening at 2.7 per cent, to N320 to $1, at the close of business yesterday. From a Gross Domestic Product (GDP) value of $510 billion to the present assessed […]

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African Leaders fall short of Mo Ibrahim Award Criteria

By Friday Nwosu African leaders have continued to fall short of the criteria set out by the Mo Ibrahim Foundation for the award of $5 million to exemplary ex-head of states that have distinguished themselves while in office. According to a report by African Sun times, no African leader was good enough to qualify for the Award this year, making […]

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African Economy: What China brings Africa are not empty promises, but tangible interest

Hainan china

Rhetoric that attributes slowdown in African economy to China is unreasonable. The truth is China has brought Africa tangible interests on the basis of mutually beneficial cooperation rather than empty promises. For starters, frequent high-level visits paid by the Chinese side to African countries showed the great importance China attaches to Africa and its determination to keep its promise to […]

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African City: Onitsha most polluted city in the world — WHO

The World Health Organisation has named Onitsha in Anambra State as the most polluted city in the world. WHO, in its latest report on Global Urban Ambient Air Pollution, stated that a study of Onitsha’s water pollution found more than 100 petrol stations in the city, selling low-quality fuel, many rubbish dumps, fuel spills along with high levels of arsenic, […]

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African Economy: Nigeria’s Manufacturing at 10% of GDP is Below Average of sub-Saharan Africa

By Kasim Sumaina A new report by the Overseas Development Institutes (ODI), has found that share of manufacturing in Gross domestic product (GDP) in Nigeria at 10%, is below the average of sub-sahara Africa. The report also revealed that investment rates at 15% of GDP are well below any reasonable comparators. The report stressed that the business -as-usual attitude of […]

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