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Africa Business World 

Opinion: United States and Africa increase engagement on AfCFTA

Elwin Mandowa, , , , , , ,
There was more good news for the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement in December 2022, when a Memorandum of Understanding (MoU) was signed between the United States (US) Trade Representative and the AfCFTA Secretariat at the US-Africa Leaders’ Summit (Summit) in Washington DC. The MoU covers expanded engagement between the two regions and intends… Read More
Africa Business Ghana West Africa World 

Ghana’s trade minister resigns from government

Elwin Mandowa, , , , , , , ,
Ghana‘s trade minister, Alan John Kwadwo Kyerematen has resigned from the government, local media has reported on Friday. He is said to have tendered his resignation letter to Ghana’s President Nana Akufo-Addo on Thursday, Jan 5, 2023. Kyerematen has been serving as Ghana’s trade minister since 2017. It is not clear why Kyerematen has resigned but there are reports it… Read More
Africa Business World 

The components and specifics of Forex Trading

Elwin Mandowa, , , , ,
Forex Market Overview The foreign exchange market, often known as the Forex market, is the most active financial market in the world. To participate in foreign exchange, you use a broker’s platform where you buy/sell (base currency) a forex currency and simultaneously sell/buy another (quote currency). The price of a pair is the amount of the quoted currency necessary to… Read More
Africa Business Southern Africa Technology World 

Cape Town’s booming tech industry

Elwin Mandowa, , , , , ,
– – Cape Town, the tech hub of Africa, is full of entrepreneurs, new technologies, and start-ups from many different industries. It is very easy to start up a tech company in this city because of the combination of government and business collaboration, a strong infrastructure, a supportive community and the city’s excellent location. There are currently 22 entrepreneurs incubators… Read More
Africa Business Nigeria News and Headlines West Africa World 

Nigeria releases new bank notes into circulation

Elwin Mandowa, , , , , , ,
– – Nigeria has released its new currency into circulation in the first such redesign in 20 years. It is expected to address insecurity, tackle counterfeiting and force excess cash back into the banking system, the government said. Nigeria’s central bank had said more than 80% of the money in circulation was being hoarded by individuals. It has urged people… Read More
Africa Business Ghana West Africa World 

Ghana cedi makes extraordinary gain in months

Elwin Mandowa, , , , , ,
– – Ghana’s local currency the cedi has gained more than 12% against the US Dollar to hit its strongest level in two and a half months. This was after the country reached a staff-level agreement over $3 billion with the International Monetary Fund. The currency strengthened to 9.5 to the dollar in a fourth straight session of gains, though… Read More
Africa Business Ghana West Africa World 

Ghana to secure $3 bln IMF loan approval in 2023

Elwin Mandowa, , , , , , , ,
– – Ghana expects to secure a $3 billion loan facility from the International Monetary Fund (IMF) by next year, Finance Minister Ken Ofori-Atta said on Tuesday. The West African nation is in serious economic crisis and urgently needs IMF bailout after earlier asserting it won’t turn to the fund for support. It would be the 17th time Ghana is… Read More
Africa Business World 

Removing the barriers to remittances in Sub-Saharan Africa

Elwin Mandowa, , , ,
– – In contrast to the global average of 6.8%, the average cost of remittances to Sub-Saharan Africa in 2020 was 8.9% of the transaction’s value. In Sub-Saharan Africa, informal flows are common, and the trend is rampant in several corridors. A formal market that is not operating at its best to meet the needs of people, especially lower-income people,… Read More
Africa Business World 

Opinion: Can Africa’s startup sector keep up its record funding run amidst global turmoil?

Elwin Mandowa, , , , , ,
– – Startups have become vital engines of change that can have an outsized impact on an economy. They are crucial in fueling innovation and enhancing economic and digital competitiveness. They improve access to products and solutions while significantly contributing to employment. In recent years, amid global economic volatility and uncertainty, Africa’s startup ecosystem has shown continued growth, attracting record… Read More
Africa Business World 

NEAR partners with Afropolitan

Elwin Mandowa, , , , , , ,
– – Afropolitan, the first-ever digital nation empowering Africans to build abundant lives, has partnered with the NEAR Foundation , the non-profit that oversees the development of the ecosystem built around NEAR Protocol, to enable citizens to control their assets, data, and the power of governance. Through this partnership, the NEAR community and Afropolitans will collaborate on several fronts. Afropolitan… Read More
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