Africa Business Ghana World 

Ghana’s inflation rises to highest level in 18 years

– – Ghana’s inflation rate has risen to the highest level in more than 18 years in April. Inflation for the month rose to 23.6% from 19.4% in March. Government Statistician Professor Samuel Kobina Annim told journalists in Accra that the rate is the highest since January 2004. Food-price growth surged to 26.6% year-on-year from 22.4% in March and non-food inflation accelerated to 21.3% in April from 17% the previous month. Prices jumped 5.8% in the month. “Headline inflation, stoked by higher costs of imported goods such as cooking oil…

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Africa Business West Africa World 

Ghana to host West African Mining and Power Exhibition and Conference

– – The West African mining industry is thriving. As one of the world’s largest gold-producing regions, it also supplies 22.6% of global titanium oxide, 11.5% bauxite (used to create aluminum) and 5.6% uranium. Each year, its countries export minerals worth around US$16.1bn. At the mining helm is Ghana, a modern, democratic powerhouse that leads the continent’s mineral production and ranks as sixth largest producer of gold and magnesium globally. The mining industry accounts for over half of Ghana’s foreign direct investment, and as the country’s primary tax-paying sector, the…

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Africa Business World 

CAR is first African country to adopt bitcoin as official currency

– – The Central African Republic has now adopted bitcoin as an official currency, making it the second country in the world do to after El Salvador. El Salvador became the second country to do so when it made its own announcement last year. CAR lawmakers voted unanimously to pass the bill legalizing bitcoin and other cryptocurrencies in parliament this week. In a statement the country’s presidency said Bitcoin will now be considered legal tender alongside the regional Central African CFA franc. The cryptocurrency community has lauded such a move to…

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Africa Business Featured Russia World 

Russia parries off Ukraine invasion blame for global economic crisis

– – The Russian government has rejected recent news reporting with the narrative that its invasion of Ukraine has led to a global economic crisis. Russia is currently engaged in a war with Ukraine, a move that has led to several sanctions being placed on the Eastern European super power. The International Monetary Fund has said that the economic damage caused by Russia’s invasion of Ukraine will lead to a significant slowdown in global growth in 2022. The IMF said in its latest update of the World Economic Outlook report released on…

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Africa Business World 

5 ways videos can help businesses generate more revenue

– – Video is becoming a highly significant source of attracting audiences. If you really want to get on to your intended audience, videos are among the finest ways to do so. Marketers who use video grow their income much faster than those who do not. Videos today have evolved into more than just a marketing tool. With their capacity to graphically explain and demonstrate things and concepts, videos help businesses not only showcase their products and services, they also assist in attracting new clients and employees. They even make…

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Africa Business World 

Telecel Group Announces the Acquisition of Mattel Mauritania

– – Tunisie Telecom, BSA telecommunication and COMATEL announce the signing, on March 14, of an exclusive agreement with the company TELECEL Group for the sale of 100% of the shares of the company Mauritano-Tunisienne des Télécommunications (Mattel). Mattel is the first mobile operator in Mauritania to have launched the GSM service. Since its creation on May 11, 2000, the result of cooperation between Mauritanian and Tunisian economic operators, Mattel has always relied on the quality of its network, the professionalism of its staff, the leadership of its management team…

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Africa Business East Africa World 

Gaming Market Statistics in Tanzania: The Rise of the Gaming Industry

– – Tanzania’s gaming business has established itself as a vital industry that contributes significantly to the country’s GDP. This article examines the primary findings of a market report on the Tanzanian gaming sector. The study seeks to provide unique and important insight into all sorts of commercial gaming operations in Tanzania, covering growth patterns, key market players, consumer behavior, and other variables that are driving gaming expansion in Tanzania. Sports Betting As of 2022, sports betting Tanzania surpassed retail casinos as the country’s main gaming activity in terms of…

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Africa Business Featured World 

Why the AU is pushing for an African credit rating agency

– – There is an urge and surge from the African Peer Review Mechanism (APRM), an organization under the African Union to work towards establishing an African-owned credit rating agency by the end of this year. The need for such African Credit Rating Agency followed complaints from some African countries that credit rating agencies from the West aren’t being fair towards them. Credit rating agencies basically provide vital information for investors globally who intend buying bonds issued by countries. Such information helps investors to decide whether countries can meet their…

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Africa Business Nigeria World 

Dangote’s oil refinery to begin production in last quarter of 2022

– – Dangote’s oil refinery plant will begin production by the fourth quarter of 2022, Group Executive Devakumar Edwin has said. The 650,000 barrels per day (bpd) plant is being built in Nigeria was to become operational by 2019 but that deadline delayed. In 2018 when it was projected that the plant will only become operational in 2022, Edwin rejected those fears. He said at the time that the suggestion that the refinery is unlikely to start production in 2019 was the product of “someone’s wild imagination”. “Ninety-five percent of…

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Africa Business Ghana World 

Ghana: Climate risks could cost transport sector $3.9 billion

– – A new report estimates that by 2050 climate risks could cause damage worth $3.9 billion in Ghana’s transport sector. But the report also offers a roadmap that could prevent the worst from happening. It also highlights extensive efforts by the government to counter climate risks. The potential damage of $3.9 billion is thrice the investment of $1.3 billion made in the sector in 2019, according to the study. The research was led by the national Ministry of Science, Environment, Technology and Innovation, in partnership with the Global Center…

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