KIGALI, June 23 (Reuters) – Africa must wean itself off dependence on food and medicine imports, the president of the African Development Bank (AfDB) said, as the institution approved creation of a pharmaceutical tech foundation and began processing requests for food relief. Africa was hit hard by the economic fallout from the coronavirus pandemic. Now, as many countries are still struggling…
Summary The President of African Development Bank (AfDB), Akinwumi Adesina, said on Wednesday the multilateral lender would soon establish investment banks for young entrepreneurs on the continent, IgbereTV reports Adesina, who stated this at the Commonwealth Business Forum in Kigali, Rwanda, criticized the structure of the existing commercial banks on the continent. He said the current financial institution model…
Summary The crypto market, known for its wild price swings, has shed more than half of its value since November last year as investors pulled out money from riskier assets amid worries over soaring inflation and rising interest rates. The ongoing meltdown in the cryptocurrency industry could push an estimated four million Kenyans who hold the digital assets deeper into…
Senegal international Sadio Mane is set to become Africa’s highest-paid footballer, overtaking Liverpool forward Mohammed Salah and Manchester City star Riyad Mahrez. The 30-year-old Mane is joining Bundesliga champions Bayern Munich next summer after a £31.5 million buyout clause was activated. Mane who is traveling to Germany tomorrow for medical tests, has agreed on joining Bayern with his new contract…
Summary The Corporate Council on Africa (CCA) has officially launched the 2022 U.S. – Africa Business Summit website which is now open for registration. The Summit, themed ‘Building Forward Together,’ will be held in Marrakech, Morocco on July 19 – 22, 2022 in partnership with the Kingdom of Morocco and Africa50 (the pan-African infrastructure investment platform). The Summit will…
The African continent has made steady progress over the last four decades – surviving high levels of poverty, various natural disasters (such as drought and floods), diseases, political instability and high levels of migration. And when the health pandemic struck, Africa’s resilience was tested yet again. COVID-19 pushed millions of households further into poverty due to its disruption of…
The African continent has made steady progress over the last four decades – surviving high levels of poverty, various natural disasters (such as drought and floods), diseases, political instability and high levels of migration. And when the health pandemic struck, Africa’s resilience was tested yet again. COVID-19 pushed millions of households further into poverty due to its disruption of…
Pope Francis has fuelled the rumour mill with a postponed Africa trip and the curious timing of an upcoming meeting of cardinals — but experts caution against assuming a resignation is nigh. Hobbled by pain in his knee and forced to use a wheelchair in recent weeks, the 85-year-old pontiff postponed a July trip to the Democratic Republic of…
Pope Francis has fuelled the rumour mill with a postponed Africa trip and the curious timing of an upcoming meeting of cardinals — but experts caution against assuming a resignation is nigh. Hobbled by pain in his knee and forced to use a wheelchair in recent weeks, the 85-year-old pontiff postponed a July trip to the Democratic Republic of…
Amazon, a global e-commerce technology company, is reportedly set to expand to African countries including South Africa and Nigeria in 2023, according to news that was first published by Business Insider. Belgium, Chile, and Colombia are also among the five markets that the giant e-commerce company is set to penetrate next year, according to leaked documents that were seen by…