Economic Growth – Africa Guardian

Unpacking the Economic Impact of Sovereign Credit Ratings on Africa

December 7, 2024

| Africa, Economy Insights

Are Africa’s Sovereign Credit Ratings Hindering Economic Growth? Our Correspondent | Africa Guardian Sovereign credit ratings play a pivotal role in determining a country’s cost of borrowing and access to global capital markets. The “Big Three” credit rating agencies—Standard & Poor’s, Moody’s, and Fitch—assign these ratings, influencing everything from government borrowing costs to economic activity across sectors. However, questions…

Building Bridges to the Future with Technology: Alderman Vos’s Vision

November 17, 2024

| Africa, News/Tech

Africa Tech Festival 2024: Technology as a Bridge to the Future, Says Alderman James Vos The Africa Tech Festival 2024 concluded on Thursday at the Cape Town International Convention Centre (CTICC), with Alderman James Vos, the City of Cape Town’s mayoral committee member for economic growth, delivering a keynote address. As Africa’s largest tech festival, the event brought together…

AfCFTA and Inclusive Trade: Key to Africa’s Economic Growth, Says GABI

September 9, 2024

| Economy, News

Our Correspondent | Africa Guardian The Global Africa Business Initiative (GABI) has highlighted the crucial role of the African Continental Free Trade Area (AfCFTA) and inclusive trade in unlocking Africa’s vast economic potential. GABI emphasizes that these strategies are essential for spurring economic growth, reducing poverty, and creating jobs across the continent. Ahead of its 2024 flagship event, “Unstoppable…

China-Africa Summit to Strengthen Belt and Road Initiative

September 1, 2024

By Edson Baraukwa | Africa Guardian The China-Africa Summit, a three-day event in Beijing, aims to foster joint development between China and Africa under the Belt and Road Initiative (BRI). A key focus of the summit will be aligning development strategies for African countries and enhancing connectivity to promote modernization and build a future-oriented society. China’s interest in Africa…

ALX Equips Africa’s Youth for a Tech-Driven Future

August 26, 2024

By Elizabeth Antidius Shumbusho | Africa Guardian Africa stands on the brink of a technological revolution, powered by a rapidly growing young population eager to adopt digital skills and tools. With a significant portion of its population under the age of 25, as highlighted by recent data from Wikipedia, the continent is uniquely positioned to leverage technology and bypass…

US, Russia compete for Africa’s nuclear power deals

August 20, 2024

• The two global powers are aggressively entering the emerging African nuclear energy market with custom solutions • They’re offering knowledge transfer skills and educational partnerships to countries with nuclear power ambitions The United States and Russia are looking to increase their influence in the nascent African nuclear energy market as more African countries seek to pursue power generation from…

Africa’s oil giants: The top 10 countries by reserves in 2024

August 20, 2024

By Chisom Michael Africa plays a crucial role in the global oil market, with the continent holding a significant portion of the world’s proven oil reserves. Africa’s oil reserves represent approximately 7.5% of the global total, serving as an essential energy source for both the continent and international markets. The oil industry is a key component of economic growth…

Sebenza Women Awards: Business pioneers celebrated

October 26, 2023

From championing economic growth to challenging poverty, the awards shine a light on women who redefine leadership and success The Sebenza Women Awards ceremony, held at the Durban International Convention Centre (DICC) on October 6 2023, was a swirl of black and gold decor. The ceremony was in recognition of the important role women play in society, and in…

How business reforms attract more investors in Tanzania

October 19, 2023

TANZANIA’s Government is currently attracting more investors thanks to deliberate efforts to improve business environment. According to a Dubai-based Surfaces Furnishing Group Managing Director, Mr Rashid Yousif, the move has propel the flow of foreign direct investment to Tanzania. “Tanzania has simplified its business procedures, making it easy for investors to inject their capital in key and strategic investment…

Why parallel forex market thrives in Nigeria, by World Bank

October 5, 2023

| Business News

The World Bank has blamed the re-emergence of parallel currency exchange market in Nigeria on resistance toward the increasing pressure on the naira and the limited supply of forex at the official window. The Bank, in a report released on Wednesday in Washington DC, said the premium between the parallel exchange rate and the official rate widened from March…

Top 10 most rewarding African countries to do business in 2023

September 28, 2023

| Business News

・Business Insider Africa presents the top 10 most rewarding African countries to do business in 2023. ・This list is derived from Oxford Economics Africa’s report titled “The Africa Risk-Reward Index.” ・The research is based on the assessment of 3 major factors. Businesses have the option to go beyond national boundaries for new markets and investment opportunities in today’s globally…

Africa’s AI Future Hinges on Reliable Power Supply and Collaboration

September 22, 2023

| News, Tech Updates

Story by Brenda Kanana In a significant address at the 11th Digital Africa Conference and Exhibition, the Executive Vice President and Chief Executive Officer of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta, shared key perspectives on Africa’s journey towards leveraging Artificial Intelligence (AI). Avoiding any detractions, Professor Danbatta highlighted the pivotal role of power supply, collaboration, and…

IMF praises Tanzania’s compliance with economic reform plan

August 2, 2023

| Economy, Financial News

The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in a challenging global environment,”…

Tanzania urges financial institutions to support Africa’s drive to accelerate human capital development

July 25, 2023

DAR ES SALAAM, – Tanzanian Vice President Philip Mpango on Tuesday urged regional and multilateral financial institutions to do more to devise innovative financing solutions in support of Africa’s drive to accelerate human capital development. “Human capital investment is long-term in nature and thus requires low-cost financing with long-term maturity,” said Mpango when he opened the technical session of…

Tanzania to host Africa Heads of State Human Capital Summit

July 18, 2023

This is the first time the conference has been held in Tanzania or on the African continent. Dar es Salaam. Tanzania is expected to host the Africa Heads of State Human Capital Summit (HCS), which will discuss investment in human resources. The Summit to be held on July 25 and 26, 2023, under the theme “Accelerating Africa’s Economic Growth:…

Tanzania: What Sh200 billion additional funding for agriculture means

May 9, 2023

| Agriculture, Financial News

Summary Key development projects to be executed include expanding irrigation infrastructure to stimulate agricultural productivity and economic growth Dar es Salaam. The government will spend Sh198 billion more on agriculture development projects in the next financial year after increasing its total budget for the sector to Sh970 billion. Key development projects to be executed include expanding irrigation infrastructure to…

Tanzania floats East Africa’s largest ship

February 15, 2023

Summary Tanzania has floated East Africa’s largest-ever domestically manufactured fresh water passenger and cargo ship, the MV Mwanza Hapa Kazi Tu, on Lake Victoria. The ship, launched at the Mwanza South Port on February 12, can carry 1,200 passengers, 400 tonnes of cargo, 20 small vehicles and three trucks. It is currently 82 percent complete. “Up to this point…