Sir Richard Branson Meets African Billionaires In Kenya
Kenya is a model investment destination in Africa, founder and CEO of the Virgin Group Sir Richard Branson said Saturday. Sir Branson made the remark when he led a group of investors in talks with President Uhuru Kenyatta at his Harambee House office. The meeting explored how to make the most of Kenya’s abundant potential […]
Investments to increase in Zimbabwe if black economic empowerment drive is relaxed
Signs that Zimbabwe is relaxing its black economic empowerment drive could see a rise in British investments in the southern African nation, according to an embassy report, following an exodus of investors in recent years. Known as “indigenisation” in Zimbabwe, the empowerment policy aims to redress colonial-era imbalances by forcing foreign companies to sell majority […]
OFID Signs Loan Agreements With Seven Partner Countries
The OPEC Fund for International Development (OFID) has signed loan agreements totaling US$173m with seven partner countries for public sector projects aimed at enhancing their socio-economic development. The agreements were signed by OFID Director-General Suleiman J Al-Herbish and high-ranking officials of the beneficiary countries, including Prime Minister and Finance Minister of St Lucia HE Dr […]
Zimasset Collapse – Opposition Backs Zimra Boss Complaint
OPPOSITION politicians have rallied behind the country’s tax chief, backing his lament that the government – critically short of cash but still an insatiable spender – was showing shocking apathy in dealing with the country’s economic crisis. Speaking to legislators last week, Zimbabwe Revenue Authority (Zimra) Commissioner-General, Gershem Pasi, also complained that the Zanu PF […]
South Sudan tops the rank of failed states worldwide
We analyse why South Sudan, despite its vast oil wealth, is still suffering economically four years after independence. South Sudan is only four years old, but the world’s youngest nation tops the rank of failed states worldwide. After decades of conflict with its neighbour Sudan, long-sought autonomy in 2011 was meant to be a dream […]
Innoson to Mass Produce Made-in-Nigeria Motorcycle
The executive vice chairman of the National Agency for Science and Engineering Infrastructure (NASENI), Mr Mohammed Haruna, has revealed that the Nigerian automobile company, Innoson Nigeria Ltd, Nnewi, Anambra State, is set to set up an assembly plant to mass produce the agency’s first made-in-Nigeria motorcycle. Speaking exclusively to LEADERSHIP at the agency’s headquarters in […]
Africa Discovers Financial Muscle of The Crowd
Budding South African film producer Meg Rickards was struggling to raise the money for her new feature film, Whiplash, when she came across the idea of crowdfunding. “We had about 70% of the budget and were battling to raise the rest,” she remembers. Meg decided to try local South African crowdfunding site Thundafund, and launched […]
Ziscosteel Revival – Ball Now in Essar’s Court
THE ball is now in Indian firm Essar Africa Holdings’ court to deliver after government removed all obstacles hindering the US$750 million deal to revive the now defunct Ziscosteel, which was once part of the economy’s backbone. In an interview with the Zimbabwe Independent on Wednesday, Mines and Mining Development minister Walter Chidhakwa said government […]
Africa Still Remains Underdeveloped
Having borne the effects of the global credit crunch better than most continents, it is a wonder that Africa still remains dwarfed in terms of tangible economic growth. While most of the countries have continued to record an average growth of five per cent in the gross domestic product, it remains to be seen how […]
Ethiopia’s Socio-Economic Stride – Bedrocks
Lately, everyone’s talking point is Ethiopia’s socio-economic stride. As the news coverage from Bloomberg Business revealed: The buzz at the World Economic Forum on Africa, an annual summit of the continent’s rich and powerful, is all about Ethiopia, where the economy is flourishing and the government is embracing select foreign capital. Executives from General Electric […]
