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Don’t expect debt relief, US warns Africa

Tibor Peter Nagy, the US Assistant Secretary of State for African Affairs, has warned African countries running up debt that they should not expect to be bailed out by western-sponsored debt relief. Referring to the International Monetary Fund and World Bank’s Heavily Indebted Poor Countries (HIPC) Initiative, Tibor warned African nations that the US would […]

Africa’s free trade zone on the rails

The African free-trade zone came into effect on Thursday after the 22nd member country of the AU ratified the treaty last month, thus paving the way for the founding of the AfCFTA. The African Union (AU) hopes the agreement will create a continental $2.5 trillion market of 1.2 billion people and will be the biggest […]

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Cisco to train 1 million additional students by 2025 in Africa through its NetAcad program

Cisco has announced that it will train an additional one million students over the next five years in Africa through its Networking Academy Program (NetAcad). The company made the announcement during the Cisco Connect conference held in South Africa. During the next three years, Cisco says it will focus on training students. This will be […]

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Microsoft launches $100m Development Centers in Africa

Tech giant Microsoft has launched a $100 million Africa Development Centre (ADC) with offices in Kenya and Nigeria. The program will support the recruitment of 100 full-time engineers by the end of the year, and 500 engineers by the end of 2023. The tech company is betting on African innovation in fields like fintech, agritech […]

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AfDB, World Bank commit more funds for renewable energies in Africa

The African Development Bank (AfDB) will soon launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy, the bank’s president Akinwumi A. Adesina said. Speaking at the One Planet Summit in Nairobi, Adesina said that the Bank would commit at least US$25 billion towards climate finance. In his words, the […]

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Africa Energy Indaba conference Kicks Off in South Africa

The Africa Energy Indaba conference held in collaboration with strategic partners, the World Energy Council, NEPAD Agency and SANEA, will kick-off on Tuesday, February 19,  in South Africa, according to the organizers. “Africa is the next investment frontier for energy. Energy access is now part of the political debate on the continent and there is […]

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Tourism: Africa receives only 5% of the international arrivals

Africa’s travel and tourism industry continues to record impressive growth over the years. In 2017, the continent hit a 63 million high in international tourist arrivals as compared to 58 M in 2016 (+ 9%). The growth record is slightly above the global performance of a 7% rise in 2017, to reach a total of […]

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African carriers to report net loss of $300m in 2019

African airlines are expected to report a net loss of $300 million in 2019, the International Air Transport Association (IATA) said. The expected net loss per passenger is $3.51 making Africa the weakest region globally. Globally, it is expected that 2019 will be the tenth year of profit and the fifth consecutive year where airlines […]

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Continental free trade area to boost e-commerce in Africa –UNCTAD

Opportunities abound for Africa to engage in and benefit from e-commerce and the digital economy as the African Continental Free Trade Agreement (AfCFTA) comes into force, speakers said at an UNCTAD’s Africa eCommerce Week in Nairobi, Kenya. The High-level Dialogue on Trade and the Digital Economy in Africa showed that the continent has the potential […]

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US-China rivalry in Africa set to sharpen in 2019, Control Risks says

Early signs suggest that the US-China rivalry will find its way to the African continent in 2019. While the US is multiplying warnings about the perils of Chinese debt-fueled spending for economic stability, China will continue to broaden its engagement across the continent, with particular focus on East Africa. This is one of the key […]

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