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Tag: africa

Konga to employ over 1million Nigerians, Africans by year 2025

Konga to employ over 1million Nigerians, Africans by year 2025

Business, Economy, Innovation
Konga, Nigeria’s leading composite e-commerce giant, is set to become one of the biggest employers of labour in Nigeria after unveiling plans to provide meaningful employment opportunities for over 500,000 Nigerians as well as another 500,000 in other African countries by 2025. The development will see Konga not only top the employment charts in the private sector but will also see the company rival government and sub-national entities in terms of employment figures, while also significantly contributing to ameliorating the worrisome unemployment situation in Nigeria and other Africans as it prepares for strategic African expansion. The ambitious plan, feelers from within the e-commerce group have revealed, will go a long way in re-writing the narrative for many under-employed a...
Chairperson of Asia Pacific and Africa Women’s Economic Association called on H.E. The Ambassador

Chairperson of Asia Pacific and Africa Women’s Economic Association called on H.E. The Ambassador

Economy
Ms. Fukuyo Nakamori, Chairperson of Asia Pacific and Africa Women’s Economic Association and former Member of the House of Representatives, called on H.E. Amb. Tabu Irina on 1st September 2021. Ms. Nakamori updated the Ambassador on the coming 1st Asia Pacific and Africa Women’s Economic Exchange Summit scheduled to be held in March 2022. H.E. the Ambassador and Ms. Nakamori also exchanged views on the current Covid-19 situation and how it affects children. H.E. the Ambassador conveyed appreciation to Ms. Nakamori for her initiative and commitment towards the success of the summit and assured her of the Embassy’s cooperation and support.
If you Boycott Africa’s Oil & Gas Sector, Africa will Boycott you

If you Boycott Africa’s Oil & Gas Sector, Africa will Boycott you

Economy, Oil & Gas
With the international community pushing for a rapid decrease in carbon emissions due to climate change, there has been a significant decline in foreign investment directed towards the African energy sector. The global climate crisis remains a critical point of discussion and should remain at the top of the agenda with regards to energy development, however, as the international community moves to boycott investments in the African energy sector, African people and African development stand to suffer. The role of oil in Africa’s energy and economic future is apparent, and consequently, should be defended as Western elites move to disrupt African progress. Despite oil’s potential to lift millions out of poverty and ensure underdeveloped African nations have a chance at economic growth a...
Which African country has the best-value mobile internet?

Which African country has the best-value mobile internet?

Business, Innovation
The high prices that people in Africa pay for the internet are rarely matched by the connection speeds. This is according to a report by Speedcheck, a website that allows users to test the speed of internet connections, on the relationship between the price of mobile data and the speeds at which carriers deliver the data. Tunisia, the study’s highest-ranking African country, has download speeds that are almost twice as fast as those of Israel, the study’s highest ranking country. The average price per gigabyte in Tunisia though is 65 times that of a gigabyte in Israel. This means even though there are instances where internet speeds in the continent might be faster than those elsewhere, customers are still paying exorbitant rates for their connections. Speedcheck analyzed t...
SHAREit Ranks #2 Fastest-Growing Media Publisher In Africa

SHAREit Ranks #2 Fastest-Growing Media Publisher In Africa

Business
The pandemic continues to explode app growth in Africa, with more than 20 million users in South Africa - and 500 million people globally - using SHAREit (uSHAREit.com) each month. 15th April, 2021: SHAREit, the world’s largest file-sharing, gaming and content streaming application, has been once ranked as the No.2 fastest-growing media publisher in Africa in the AppsFlyer (AppsFlyer.com)’s latest Performance Index (bit.ly/3eP3yBL), a tool for app marketers to see the performance ranking of mobile media sources.  Interestingly, the data was released after the largest quarter of consumer spending in apps on record, a new report from App Annie (www.AppAnnie.com) indicates. AppAnnie says consumers in Q1 2021 spent $32 billion on apps across b...
Red Cross report calls for immediate action to protect communities in Africa

Red Cross report calls for immediate action to protect communities in Africa

Health
Guided by the findings of its World Disasters Report, the International Federation of Red Cross and Red Crescent Societies (IFRC) is embarking on an ambitious strategic direction aimed at eradicating hunger by 2030 in Africa, while mitigating climate change. One of the flagship climate adaptation actions is the plantation of five billion trees by the end of the decade. The World Disasters Report 2020, “Come Heat or High Water: Tackling the Humanitarian Impacts of the Climate Crisis Together” presents analyses and recommendations designed to help local and national governments, as well as donors and civil society organisations, take urgent action to protect at-risk communities from the current and future impacts of climate change. The Commissioner for Agriculture ...
Mobilise domestic revenue, reshape values for Africa, says WAUTI president

Mobilise domestic revenue, reshape values for Africa, says WAUTI president

Business
For Africa to develop without aids, there is the need to mobilise domestic revenue, reshape mindsets and values as well as take advantage of natural resources on the continent.  President of the West African Union of Tax Institutes (WAUTI), Gladys Simplice, stated this, saying there was a need to develop Africa for Africans. Speaking during a press briefing on a two-day 7th WAUTI conference in Lagos, themed, ‘Designing and implementing Tax Measures for the COVID-19 Era and Beyond’, Simplice said the international conference aims to deepen an understanding of the consequences on taxpayers and tax administrators while contributing to the recovery of the economies of the West African countries.  She maintained that the conference, which plans to arm affected people and firms with appropri...
Amidst climate concern, stakeholders insist oil key to Africa’s future

Amidst climate concern, stakeholders insist oil key to Africa’s future

Oil & Gas
• Growing population, dearth of investment, others worry experts   Stakeholders in Africa’s energy sector have insisted that crude oil still has a major role in the continent’s future despite growing concern over climate change. The stakeholders, who gathered at the African Refiners Association (ARA) Week 2020, however, stressed the need for clean energy transition and climate change mitigation policies to address looming challenges. They also called for investments that would enable the region to achieve a proposed 10ppm (parts per million) sulphur fuels for the pan-African transport sector by 2030. This calls for upgrade of refineries, while stringent regulation should be placed on imported petroleum products. Global think tanks, including S&P Global Platts...
Moody’s Affirms Afreximbank’s Rating

Moody’s Affirms Afreximbank’s Rating

Business
African Export-Import Bank (Afreximbank) has announced that the global credit ratings agency Moody’s, recently affirmed its long-term credit rating at Baa1, with a stable outlook. The agency determines its rating for supra-nationals based on three criteria: capital adequacy, liquidity, and funding and strength of member support. Moody’s noted that Afreximbank’s credit profile was, “supported by its collateralised trade finance business model, with a short average asset maturity and a relatively well-diversified loan portfolio that allows it to respond flexibly to the coronavirus crisis.” The report added that, “the stable outlook is supported by the Bank’s successful equity-raising performance and its track record of adapting its strategy to challenges in the operating environment of...
Why refined products standard is critical to Africa

Why refined products standard is critical to Africa

Business
A move by the African Refiners & Distributors Association (ARA), and the African Union (AU), to ensure common standard for the importation and refining of petroleum products on the continent remains critical to trade, environment and the economy of the region, stakeholders said, Wednesday. Under the plan, Africa is expected to adopt harmonized AFRI Clean Fuel Specifications across. The Cleaner Fuel spec recommends adoption of AFRI five (50 ppm sulphur for gasoline and diesel) by 2025, and AFRI 6 spec (10 ppm for same products) by 2030. ARA Executive Secretary, Anibor Kragha, had told The Guardian that the objective is to stop the importation of fuels not meeting these AFRI specs into Africa by 2021, and give existing refineries until 2025 to upgrade their faciliti...