South African President Cyril Ramaphosa appointed former central bank Governor Tito Mboweni as his finance minister on Tuesday, replacing Nhlanhla Nene, who lied about his meetings with three businessmen accused of plundering state funds. Mboweni, the nation’s fifth finance chief in less than three years, will have to oversee an economy that’s fallen into recession…
President Donald Trump is expected within days to approve an initiative to overhaul US investment strategy in Africa. Kenya is likely to benefit from the plan designed by key figures in the US Congress in response to China’s enhanced economic and political influence in the Sub-Saharan region. A State Department official told reporters last week…
President Donald Trump is expected within days to approve an initiative to overhaul US investment strategy in Africa. Kenya is likely to benefit from the plan designed by key figures in the US Congress in response to China’s enhanced economic and political influence in the Sub-Saharan region. A State Department official told reporters last week…
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While the nation has been transfixed by the confirmation hearings of Judge Brett Kavanaugh for a seat on the Supreme Court, Congress passed significant legislation on Africa that has attracted virtually no attention. On October 3, the Senate passed the Better Utilization of Investments Leading to Development Act, better known as the BUILD Act. President…
Over the coming decade, affluent Africans—and visitors to the continent—will have a lot more hotel options to choose from. That’s because some of the world’s largest hotel chains are betting big on expansion plans in Africa. AccorHotels, the largest hotel operator in Africa with brands like Sofitel, Novotel and Ibis, set the pace back in July…
It is without doubt that China is an emerging superpower, a position currently occupied by the United States of America. China’s rising power, politically and economically is evident in all aspects of the global economy. China’s rising global stature has made her play a pivotal role in shaping the economic growth and development agenda of the…
The Ugandan cabinet has authorized US $150m loan from the International Development Association (IDA), a member of the World Bank Group, for the construction of safe water sources in more than 20 districts, municipalities, town councils and refuge hosting areas across the country. According to Minister of ICT and National Guidance Mr. Frank Tumwebaze, many of these…
Market research and analysis firm Frost & Sullivan have issued the 2018 Global Renewable Energy Outlook revealing that in 2018, renewable power generation capacity will grow by 13.3% and the global renewable investments will reach US $228.3bn this year. The renewable energy market is expected to achieve 154.6GW of new energy capacity by the end of this…
Market research and analysis firm Frost & Sullivan have issued the 2018 Global Renewable Energy Outlook revealing that in 2018, renewable power generation capacity will grow by 13.3% and the global renewable investments will reach US $228.3bn this year. The renewable energy market is expected to achieve 154.6GW of new energy capacity by the end of this…