While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP growth.
His dream is to show the world the glories of Ethiopian cuisine, to preserve its rich traditions and to make his fellow citizens eat better.
In Sub-Saharan Africa, private equity funds offer investors access to competitively priced assets that have strong growth potential in a region where stock exchanges are still developing.
Tedros Adhanom Ghebreyesus of Ethiopia was voted director general of the World Health Organization on Tuesday, the first African ever to head the agency.
Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.
Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.
Europe’s largest hotel group AccorHotels, will open three hotels in Ethiopia by 2021, becoming the latest international chain to tap into the growing business and tourism sectors in the country.
EXEO Capital, the pan-African private equity investment firm, has announced the first close of the second Agri-Vie Fund, focused on the food and agribusiness sector in Sub-Saharan Africa.
Chad’s foreign minister has been elected as the new chair of the African Union Commission, pledging to place development and security at the top of his agenda and streamline the organization’s bureaucracy.
Kayode Akinola quits KKR to start firm with Marlon Chigwende. New firm to target investments of less than $100 million in equity.
By the United Nations’ estimate, the continent will see its current population of 1.2 billion double by the year 2050.
Ethiopia on Saturday officially opened the Gibe 3 hydroelectric dam, which is among the biggest in Africa, despite concerns by environmentalists about its impact downstream and upon neighboring countries.
Tanzania expects to begin importing electricity from Ethiopia in 2019 when the eastern African nations complete interconnection grids currently to form a regional power pool.
Kenya plans to begin constructing its first nuclear power plant at a cost of $5 billion by 2021 as the country seeks to bring down the cost of electricity.
Between 2010 and 2016 H1, there were 167 reported private equity deals in East Africa totaling $1.4 billion.
African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature.
While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.
While many countries are registering a sharp slippage in economic growth, East African economies, Ethiopia included, are expected to deliver above 6 percent economic growth, the World Bank has said in its latest report.
According to the World Bank, 35 of 47 economies in sub-Saharan Africa took at least one step in making it easier to do business in their country in 2015.
Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.
African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.
Africa’s household and business spending will top $5.6tn by 2025 and its manufacturing output could reach $93bn, according to a new McKinsey & Company report.
Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.
Visualizations of Real GDP Growth Rates of Countries in Africa (Interactive Map & Chart) from 2007 – 2017.
Konza Tech City – The much-hyped Konza Tech City – or “Silicon Savannah” – is hoped to be a world-class hub of entrepreneurship. The $15 billion site, set in 5,000 acres to the south of Nairobi, will accommodate almost 200,000 people, complete with universities, research facilities, and IT centers.
Whether it’s through hip-hop, R&B, Top 40 radio or Internet memes, Drake is a ubiquitous presence on our cultural landscape. Yet for all of his inescapable hits in the past few years, it was only in May that Drake finally topped the Billboard charts.
We are at an inflection point in terms of the structural evolution of most African economies. Decisions made and actions taken now will determine, which of these economies consolidate the gains made over the past decade as a platform for sustainable growth in coming decades.
At the end of 2015, 46% of the population in Africa subscribed to mobile services, equivalent to more than half a billion people. The region’s three dominant markets – Egypt, Nigeria and South Africa – together accounted for around a third of the region’s total subscriber base.
Africa now has half a billion mobile users, and the mobile ecosystem added $153-billion to the African economy in 2015, according to a new GSMA study, which predicts smartphone numbers will triple in the next five years.
Duet Private Equity has signed an exclusive agreement with the Asset Management Corporation of Nigeria (AMCON) to establish an investment fund focused on Nigeria’s fast-moving consumer goods (FMCG) sector.
Over the past two decades, Sub-Saharan Africa has caught the attention of an increasing number of investors who are looking for new and promising opportunities.
The conversation about Africa is shifting from one of “deficits” and “gaps” to one about opportunities, prospects, ventures and creativity.
In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”.