It’s A Great Time To Get To Sierra Leone
Under the leadership of tourism minister Nabeela Tunis, who has launched an ambitious 10-year National Strategic Tourism Plan emphasizing inclusivity and sustainable development, the country is actively courting international visitors while ensuring local communities benefit from tourism growth. The signs of transformation are everywhere, from a new solar-powered international airport in Freetown to actor Idris […]
Exploring Africa’s Creative Revolution: The Rise Of Concept Stores From Lagos To Cape Town
Africa has long been a powerhouse of creativity and culture, whether through art, fashion, design or music, the continent proudly celebrates its distinctive rhythm and rich cultural tapestry. With a new wave of concept stores redefining the retail experience, these are more than just places to shop; they are creative hubs, community spaces, and platforms […]
African Policymakers and Experts Announce a Raft of New Initiatives at Cop29
This week, the Climate Investment Funds Capital Markets Mechanism (CCMM) announced a bond listing on the London Stock Exchange to boost climate finance for Africa. CCMM raises private sector capital in the international capital markets to mobilise finance for climate action and sustainable development, based on reflows from existing Clean Technology Fund projects implemented by six participating multilateral development […]
Is the Concept of Risk Invented to ensure that Investment doesn’t come to Africa?
That’s what Gagan Gupta told an audience of investors and entrepreneurs earlier this year, to resounding applause. Mr Gupta, whose firm works on logistics and utilities across Africa, is optimistic about the continent and scathing about outsiders’ ability to assess it. Philippe Valahu, the boss of PIDG, an infrastructure-finance group, echoes the sentiment: “I spend […]
Growing Personal Risks for Executives in Gold-rich Mali
Resolute Mining’s chief executive Terry Holohan was detained on Friday in Bamako along with two other employees of the Australian gold producer. The three British citizens are among seven executives of western mining companies to have been held in Mali in the past two months as tensions rise between the industry and the military junta, […]
Mozambique’s Biggest Economic Scandal Laid to Rest
The tuna fishing fleet at the center of a $2 billion corruption scandal, which scuttled Mozambique’s economy and triggered court cases across three continents, is up for auction. The 24 vessels, which have been rusting away for a decade in a port in Maputo, the capital, put the southeast nation on the hook for a […]
The Latest African States to be Grey-listed
Algeria, Angola and Côte d’Ivoire were added to the Financial Action Task Force’s “grey list” after falling short in their financial regulatory and legal regimes, while Senegal was removed from the list after making improvements. According to the FATF, the limitations found for the three countries included insufficient risk-based supervision and lacking transparency in beneficial […]
Opting Out of Africa’s Largest Pay TV Company
MultiChoice lost 1.7 million subscribers in the six months to September, largely due to inflationary pressures and power shortages in key markets. South Africa-based MultiChoice, which ended the period with 14.9 million subscribers, saw its revenue fall by 11% to $1.3 billion while its net losses widened to $100 million, from $51 million a year […]
Eight of the Top 10 Recipients of IDA Funding are African Countries
The continent, in particular, has greatly benefited from World Bank’s lending, as governments across the continent are actively accelerating infrastructural development across various regions.Over the IDA’s lifetime, African countries have accounted for approximately 73% of total IDA disbursements, totaling just over US$210 billion. While some experts have raised concerns about the persistent borrowing habits of certain […]
19 million of the 21 million Kenyans who took the Hustler Loan have Defaulted
President Ruto pledged a Hustlers’ Fund which would dispense microloans straight to mobile phones “at single-digit interest”. The intention was that the loans would be used to start businesses and help “hustlers” make their way out of poverty. They were primarily aimed at women and young people. The significance of the Hustler Fund was that […]
