Museveni promotes African unity at WEF meeting in Cape Town

Museveni promotes African unity at WEF meeting in Cape Town

President Yoweri Museveni, true to his pan-African convictions, said Thursday that unity is the key to ending the continent’s many conflicts and businesses contribute to the cause of peace by establishing stability. “Thriving businesses cause social transformation which changes society,” said Museveni, speaking at a session of the World Economic…

AfDB’s Adesina delivers keynote at TICAD7 session in Japan

AfDB’s Adesina delivers keynote at TICAD7 session in Japan

Akinwumi Adesina, president for African Development Bank Group, delivered a keynote address Wednesday as the Seventh Tokyo International Conference on African Development (TICAD7) kicked off with its emphasis on climate change and hunger. “In spite of all the gains made in agriculture, we are not winning the global war against…

Opinion: Africa does not need a single currency

By Piotr Arak AT Contributor The process of increasing international trade in Africa and decreasing barriers that can foster growth resembles the goals and policies introduced successfully in Europe. This year Africa will take a big step towards tackling entrenched economic problems including a dearth of intra-regional trade as the…

Lesotho welcomes new cannabis facility

Lesotho celebrated the opening of its new cannabis processing facility on Thursday, with King Letsie III set to join investors at the Verve Lesotho facility. Verve plans to produce cannabidiol (CBD) for medical uses, capitalizing on Lesotho’s decision to be at the forefront of African nations in exploring business opportunities…

Mauritius, ICIJ respond to tax-haven investigation

One week after a new investigation into tax policies in Mauritius was published by the International Consortium of Investigative Journalists, the ICIJ said it has seen international response to the reporting and concerns over allegations from officials in the Indian Ocean island nation. The project, a collaboration of 54 journalists…

Germany Africa Business Forum announces funds for energy startups

The Germany Africa Business Forum (GABF) announced Thursday a multimillion-Euro funding commitment to invest in German energy startups that focus on Africa. The GABF, based in Berlin and Johannesburg, South Africa, said the funds are the first of their kind for the advocacy group seeking to advance German partnerships with…

Angola joins investment-focused Lusophone Compact

Angola is the latest of Africa’s Portuguese-speaking nations to sign on to the Lusophone Compact, which seeks to boost private-sector development in partnership with Portugal and the African Development Bank (AfDB). The compact is an initiative that links the six Portuguese-speaking nations – Angola, Cabo Verde, Equatorial Guinea, Guinea-Bissau, Mozambique,…

China congratulates Africans on AfCFTA launch

China on Monday congratulated African nations following the weekend launch of the African Continental Free Trade Area (AfCFTA) in Niamey, Niger, during an African Union summit that saw Niger and Benin join the near-complete list of African nations signed to the trade deal. The achievement was welcomed by China’s ministry…

Who’s running the IMF as Lagarde steps away?

Who’s running the show at the International Monetary Fund, now that former managing director Christine Lagarde has stepped down temporarily while she is a candidate for head of the European Central Bank? Right now it’s David Lipton, who has served as deputy managing director since 2011 and is completing a…

Mnangagwa defends Zimbabwe currency decision

President Emmerson Mnangagwa said Tuesday that the country’s decision to return to a single Zimbabwean currency is part of a suite of decisions meant to stabilize the economy – but the abrupt decision to make other currencies illegal, effective immediately, has caught many off guard. Mnangagwa said the use of…

In Mozambique, U.S. announces new African business council members

Officials in the United States have announced the 26 new members of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA), which will serve the council’s third term through 2021. The appointments were announced by U.S. Department of Commerce Deputy Secretary Karen Dunn Kelley, left, during a U.S.-Africa Business…