Inflation, Weaker Currencies and Climate Change Top List of Concerns for African Economies, According to New Survey

45% of surveyed CEOs are worried by financial risks,of these, more than 60% are concerned about currency depreciation. The need to adapt to climate change was the second most pressing issue. New survey takes the temperature of business across Africa. Financial risks, including currency depreciation and inflation, is topping the list of challenges facing the 54 African economies in the year ahead. That’s according to a new survey of the continent’s leading insurance professionals, conducted by the pan-African reinsurer, Continental Reinsurance. […]

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African Development Fund extends $3 million in additional financing for Liberia’s Special Agro-Processing Zone scheme

photo: Women selling various grains at a community market in Monrovia, Liberia. The Board of Directors of the African Development Bank Group has approved an additional $3 million of mixed financing for the Special Agro-Industrial Processing Zone project in Liberia. The financing, approved on 12 October 2022, comprises a loan of $2.92 million and an $80,000 grant sourced from the African Development Fund, the Bank Group’s concessional lending arm for the continent’s low-income countries. On 20 October 2021, the African […]

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Rethinking the Foundations of Export Diversification in Africa

Soaring food and energy prices are hitting African countries especially hard as they struggle with the impact of the COVID-19 pandemic, climate change and the war in Ukraine. To cope with current crises and insulate itself against future shocks, Africa must diversify its economies. The continent of 1.4 billion people is among the least diversified regions in the world with regard to exports. Download the full report Download the executive summary Commodities account for more than 60% of total merchandise […]

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Focus will be on local businesses, products and services at upcoming Automechanika Johannesburg

Wide-ranging participation by large numbers of overseas exhibitors from a host of countries has been a feature of Automechanika Johannesburg since the first of these trade shows for the automotive aftermarket was staged at Expo Centre, Nasrec, in 2009. This all changes in favour of local exhibitors at Automechanika Johannesburg 2022, which takes place at the same venue from June 7-10. “Although the only international exhibitors currently signed up to come to Automechanika Johannesburg this year are from Germany, the […]

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Historic Memorandum of Understanding signed between 12 Private Sector Automotive Associations in Africa and Europe to develop the Automotive industry in Africa

A memorandum of understanding was signed virtually between 12 Automotive Associations within the ambit of the EU – Africa Business Forum 2022 on 16 February with the aim of driving the development of the Automotive Industry in Africa. The Automotive sector whilst key for the industrialisation of Africa is often associated with several challenges including, persistent market fragmentation, lack of regulatory alignment between African countries and the two continents, industrial and trade policies not conducive to local and foreign investment, […]

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VDMA: Strengthen relations with Africa!

V Commenting on the sixth Summit between the EU and the African Union on 17 and 18 February 2022, Ulrich Ackermann, Head of the Foreign Trade Department at VDMA, says: “It is important that this Summit lays the foundation for a deeper and comprehensive partnership between the EU and the African Union, especially in the areas of trade, infrastructure and climate change. Africa is our neighbouring continent with more than 1.3 billion people, making it an important partner region. It […]

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Speech by Dr. Akinwumi A. Adesina President, African Development Bank Group at the Twenty-Fifth Ordinary Session of the Assembly of the African Union Addis Ababa, 5-6 February 2022

Mobilizing Financing for Africa’s Accelerated Economic Recovery, Development and Integration Your Excellency Macky Sall, President of the Republic of Senegal and Chairperson of the African Union Your Excellency Abiy Ahmed, Prime Minister of the Federal Democratic Republic of Ethiopia, Our Gracious Host Your Excellencies Heads of State and Government Your Excellency Moussa Faki Mahamat, Chairperson of the Africa Union Commission Your Excellency Amina Mohammed, Deputy Secretary General of the United Nations, Representing the Secretary General of the United Nations Your […]

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Mozambique: African Development Bank Group approves $36 million grant for power scheme

…that includes refugees and internally displaced persons UN workers deliver relief items to internally displaced people in Corrane Site in Nampula Province. The Board of Directors of the African Development Bank Group has approved a grant of $36 million to support a power scheme in Mozambique that also covers displaced persons and refugees. The Mozambique Energy for All Project will increase the number of residential connections to the electricity grid, enhance power exports and improve domestic and regional supply quality. […]

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