Africanleadershipreview

12/12/2022

For investors across industries, each of Africa’s 54 countries represents a place of opportunity and challenge. With growing consumer populations, increasing urbanisation, and a wealth of untapped natural resources and development capacity, there is significant scope for investment. Indeed, private capital deals reached a record high of $7.4bn in 2021 alone, according to the African Private Equity and Venture Capital Association....

For investors across industries, each of Africa’s 54 countries represents a place of opportunity and challenge. With growing consumer populations, increasing urbanisation, and a wealth of untapped …

12/12/2022

The body of a Zambian student who died while fighting in Ukraine after he was recruited in a Russian jail arrived home in a makeshift coffin Sunday. AFP journalists saw a white, glass-panelled hearse adorned with small curtains affording a partial view of the container holding the body arrive on the tarmac at Lusaka airport, where grieving relatives gathered. On the coffin was a code written in black marker pen along with letters in the Cyrillic alphabet, betraying its provenance....

The body of a Zambian student who died while fighting in Ukraine after he was recruited in a Russian jail arrived home in a makeshift coffin Sunday. AFP journalists saw a white, glass-panelled hear…

12/12/2022

Sudanese political parties and the military signed a framework deal on Monday that they said would pave the way for two-year civilian-led transition towards elections and end a sometimes violent standoff triggered by a coup in October 2021. The deal could mark a new phase for Sudan, but has already faced resistance from protest groups opposed to negotiations with the military and from Islamist factions loyal to the regime of toppled leader Omar al-Bashir....

Sudanese political parties and the military signed a framework deal on Monday that they said would pave the way for two-year civilian-led transition towards elections and end a sometimes violent st…

09/12/2022

Experts on Wednesday raised concerns over a new policy announced by the Central Bank of Nigeria that heavily limits withdrawals of money in a push for a cashless economy. The monetary policy, which applies to ATMs, banks and cash back from purchases, follows the launch of the West African nation's newly designed currency notes to control the money supply. The central bank limited weekly over-the-counter cash withdrawals to 100,000 naira ($225) for individuals and 500,000 naira ($1,124) for corporations, with a processing fee required to access more....

Experts on Wednesday raised concerns over a new policy announced by the Central Bank of Nigeria that heavily limits withdrawals of money in a push for a cashless economy. The monetary policy, which…

08/12/2022

The crisis in Nigeria's Labour Party has spread to more states two months before the 2023 election but party members say the bickering will not affect the chances of its presidential candidate, Peter Obi, whose popularity had surprised even his critics. About 22 state chapters of the party out of the country’s 36 states “are having one problem or the other,” Ifagbemi Awamaridi, a member of the party tells…...

The crisis in Nigeria’s Labour Party has spread to more states two months before the 2023 election but party members say the bickering will not affect the chances of its presidential candidat…

08/12/2022

M23 rebels have announced that they are ready to disengage and withdraw territories they have occupied in eastern DRC after almost a year which has led to simmering tension between Rwanda president Paul Kagame and his DRC counterpart Félix Tshiskedi. The resurgence of the rebel group defeated in 2013 after briefly capturing Goma, the main city in the east, has led to a regional scrambling in a bid to find a lasting solution. The group captured the Bunagana border town in May and has in recent months moved within two dozen kilometres from Goma.

M23 rebels have announced that they are ready to disengage and withdraw territories they have occupied in eastern DRC after almost a year which has led to simmering tension between Rwanda president…

07/12/2022

In a quest to continue to drive insurance pe*******on in Nigeria, AXA Mansard has opened another office in Ibadan, Oyo State. The new office, according to Jumoke Odunlami, Chief Customer & Marketing Officer of the company is another demonstration of AXA Mansard’s commitment to driving the pe*******on of insurance in Nigeria by bringing services closer to the people. Odunlami noted this at the opening of the Ibadan office recently, explaining that growing the company’s footprint nationwide with offices and welcome centres is part of the company’s phygital strategy....

In a quest to continue to drive insurance pe*******on in Nigeria, AXA Mansard has opened another office in Ibadan, Oyo State. The new office, according to Jumoke Odunlami, Chief Customer & Mark…

06/12/2022

The growth rate within the countries of the West African Economic and Monetary Union (WAEMU), amounted to 5.7% in 2022, down 0.4% compared to 2021, announced Monday the leaders of this organization meeting in Abidjan. The eight member countries of UEMOA (Senegal, Guinea Bissau, Ivory Coast, Togo, Benin, Mali, Niger and Burkina Faso) have not been spared by "the deep crises that affect the whole world", in particular "the consequences of the war in Ukraine", at the same time as "our economies were recovering from the shock" of the crisis related to Covid, said Ivorian President Alassane Ouattara....

The growth rate within the countries of the West African Economic and Monetary Union (WAEMU), amounted to 5.7% in 2022, down 0.4% compared to 2021, announced Monday the leaders of this organization…

06/12/2022

With French oil company Total Energies as the main shareholder, companies and banks from as many as 10 foreign countries are involved in the oil projects in Uganda and Tanzania. The 1.443km East African Crude Oil Pipeline (EACOP) will be located between Hoima in Uganda and Tanga in Tanzania, but its headquarters are located in the luxurious district of Canary Wharf in London, from where a group of French officers leads the business together with Chinese counterparts....

With French oil company Total Energies as the main shareholder, companies and banks from as many as 10 foreign countries are involved in the oil projects in Uganda and Tanzania. The 1.443km East Af…

05/12/2022

On Sunday, Ramaphosa mentioned he’s heading to courtroom to quash a damning parliamentary probe towards him. Ramaphosa vows to remain in workplace as a result of final week’s devastating parliamentary probe towards him is ‘flawed’, his spokesperson Vincent Magwenya advised native media on Sunday. Final Wednesday (30 November) bets have been off that President Cyril Ramaphosa would rapidly throw within the towel after a damning parliamentary probe into…...

On Sunday, Ramaphosa mentioned he’s heading to courtroom to quash a damning parliamentary probe towards him. Ramaphosa vows to remain in workplace as a result of final week’s devastating parliament…

02/12/2022

President Cyril Ramaphosa has lost the political support of the ANC and is "very likely" to announce his resignation as head of state in the next few hours. Ramaphosa will also resign as president of the ANC and will pull out of the race to be re-elected in just over two weeks' time at Nasrec.In accordance with the Constitution, Deputy President David Mabuza, a former premier of Mpumalanga, will step in as acting president until Parliament votes for a new president....

President Cyril Ramaphosa has lost the political support of the ANC and is “very likely” to announce his resignation as head of state in the next few hours. Ramaphosa will also resign a…

02/12/2022

A massive congregation cheered Peter Obi, the presidential candidate of the Labour Party upon his visit to the Dunamis International Gospel Center, on Friday to attend “the Judgement Praise Night with Pastor Paul Enenche.”In a video seen by Vanguard on Saturday, Enenche’s wife, Becky introduced Obi during a prayer vigil of the church Friday evening. Addressing members of the church, Becky Enenche said: “And we also have tonight, Mr Peter Obi who has joined for the service this evening.”...

A massive congregation cheered Peter Obi, the presidential candidate of the Labour Party upon his visit to the Dunamis International Gospel Center, on Friday to attend “the Judgement Praise Night w…

30/11/2022

Even before the Covid-19 pandemic, access to justice for two-thirds of humanity, particularly women and the poor, was a mountain to climb. As the virus struck, the world was thrown into chaos and any chance of reaching that summit was swiftly stolen, vanishing like the Himalayan peaks amidst a storm. The devastating impact of Covid-19 has forced us to confront a system stretched beyond its limits and left us with unmanageable backlogs....

Even before the Covid-19 pandemic, access to justice for two-thirds of humanity, particularly women and the poor, was a mountain to climb. As the virus struck, the world was thrown into chaos and a…

30/11/2022

Qatar Airways (QR, Doha Hamad Int'l) is considering increasing its involvement in Rwandan aviation by buying a 49% stake in flag carrier RwandAir (WB, Kigali), Qatar Airways Group Chief Executive Akbar Al Baker told reporters during a CAPA conference in Doha. "We’re going to take a stake in their national carrier because we see that Africa is another region that has huge growth potential," Al Baker was quoted by Reuters....

Qatar Airways (QR, Doha Hamad Int’l) is considering increasing its involvement in Rwandan aviation by buying a 49% stake in flag carrier RwandAir (WB, Kigali), Qatar Airways Group Chief Execu…

30/11/2022

South Africa’s oil industry is at a crossroads, which could tip the scales from self-reliance to import dependence, posing a threat to the domestic economy and security of supply, warns the SA Petroleum Industry Association (SAPIA). The downstream industry imports, produces, and distributes petroleum products for the country and region, and in 2019 supplied 35 billion litres of product to these markets, according to SAPIA executive director Avhapfani Tshifularo....

South Africa’s oil industry is at a crossroads, which could tip the scales from self-reliance to import dependence, posing a threat to the domestic economy and security of supply, warns the SA Petr…

30/11/2022

Fighting resumed between troops in the Democratic Republic of the Congo and M23 rebels in the country’s east on Friday, as the armed group said a ceasefire deal between African leaders “doesn’t really concern” them. Reporting from Kilimanyoka, outside Goma in eastern DRC, Al Jazeera’s Malcolm Webb said fighting is ongoing in the west of M23’s territory, around Chumba, Swagara and Bwiza....

Fighting resumed between troops in the Democratic Republic of the Congo and M23 rebels in the country’s east on Friday, as the armed group said a ceasefire deal between African leaders “doesn’t rea…

30/11/2022

The second edition of the Africa Financial Industry Summit brings together more than 600 leaders from the continental finance industry, amid major sectoral upheaval. The objective is to develop solutions so that the sector can collectively arm itself in the face of crises. “This moment of recomposition hints at a transformed financial landscape. We will build this future together. I am addressing you with a strong conviction: the future of African finance will be built on close collaboration between public authorities and the financial sector,” said President Faure Gnassingbè at the opening of the Africa Financial Industry Summit on 28 November in Lomé, underlining the impact of the health, financial and energy crises on Africa’s financial sector....

The second edition of the Africa Financial Industry Summit brings together more than 600 leaders from the continental finance industry, amid major sectoral upheaval. The objective is to develop sol…

15/07/2022

Tanzania has dispatched a team of doctors and health experts to investigate a mysterious disease that has claimed the lives of three people, the government said Wednesday. Symptoms of the illness include fever, headaches, fatigue and nosebleeds, the government's chief medical officer Aifello Sichalwe said in a statement. So far, 13 cases have been reported in the southeastern region of Lindi, including the three people who died....

https://africanleadershipreview.com/tanzania-problems-deadly-unknown-illness/

Tanzania has dispatched a team of doctors and health experts to investigate a mysterious disease that has claimed the lives of three people, the government said Wednesday. Symptoms of the illness i…

15/07/2022

Morocco's navy has intercepted 257 migrants at sea in four days, state media reported Tuesday, two weeks after at least 23 migrants were killed in a border stampede. "Navy coast guards on maritime patrol in the Mediterranean and the Atlantic, rescued... 257 people attempting irregular migration, having attempted a perilous crossing aboard makeshift boats, kayaks and even swimming," said the unnamed military official, quoted by the official MAP news agency....

https://africanleadershipreview.com/morocco-interception-migrant-leading-europe/

Morocco’s navy has intercepted 257 migrants at sea in four days, state media reported Tuesday, two weeks after at least 23 migrants were killed in a border stampede. “Navy coast guards …

15/07/2022

Following a suit by the Socio-Economic Rights and Accountability Project (SERAP) and 176 concerned Nigerians, the Economic Community of West African States’ (ECOWAS) Court has declared unlawful the suspension of Twitter by the government of President Muhammadu Buhari, and ordered his administration never to repeat it again. Last year, following the deletion of Buhari’s tweet, the Minister of Information and Culture, Lai Mohammed had announced the suspension of Twitter in Nigeria....

https://africanleadershipreview.com/ecowas-court-has-declared-the-banning-of-twitter-by-the-nigeria-government-illegal/

Following a suit by the Socio-Economic Rights and Accountability Project (SERAP) and 176 concerned Nigerians, the Economic Community of West African States’ (ECOWAS) Court has declared unlawful the…

05/07/2022

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The global rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’. According to Fitch, the upgrade is a result of the Bank’s improving business profile and resilient financial metrics. The agency said the improved rating reflected the bank’s increased creditworthiness relative to other issuers in Nigeria, emphasizing that, “Fidelity’s Long- and Short-Term IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of ‘b’ ’’....

https://africanleadershipreview.com/fintech-upgrade-fidelity-bank-rating/

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The global rating agency also upgraded Fidel…

05/07/2022

Zenith Bank Plc has won another international honour as Banker of Year 2005 conferred on it by The Banker Magazine, a subsidiary of the influential Financial Times of London at a ceremony in London last Tuesday. The award, which is an annual event, ranks the Top 1,000 banks in the world, honouring the best in each country. Zenith Bank won the award in the Nigerian category....

https://africanleadershipreview.com/zenith-wins-bank-of-the-year-award/

Zenith Bank Plc has won another international honour as Banker of Year 2005 conferred on it by The Banker Magazine, a subsidiary of the influential Financial Times of London at a ceremony in London…

05/07/2022

Jermaine Seoposenwe was involved in the build-up to both goals in a battle between two tournament favourites South Africa secured a 2-1 victory over Nigeria in their opening match in the 2022 Africa Women's Cup of Nations Group C game on Monday evening. Two second half goals from Jermaine Seoposenwe and Hildah Magaia inspired Banyana Banyana to a win over the Super Falcons who netted a late consolation goal through Rasheedat Ajibade at Stade Moulay Hassan in Morocco....

https://africanleadershipreview.com/wafeon-south-africa-beat-nigeria/

Jermaine Seoposenwe was involved in the build-up to both goals in a battle between two tournament favourites South Africa secured a 2-1 victory over Nigeria in their opening match in the 2022 Afric…

05/07/2022

Primary and secondary school teachers across Ghana say they’re embarking on a strike because their cost of living allowances aren’t being paid. They say the allowance, which is 20% of their basic salary, is essential to cushion them from biting economic hardship. Inflation is at its highest level in 18 years, and the mineral-rich West African country may soon have to borrow more money to pay public sector workers....

https://africanleadershipreview.com/ghanian-teachers-strike-over-payment/

Primary and secondary school teachers across Ghana say they’re embarking on a strike because their cost of living allowances aren’t being paid. They say the allowance, which is 20% of their basic s…

04/07/2022

West African leaders met in Ghana, Sunday, to review sanctions imposed on three neighbor countries. Ecowas heads of states lifted economic and financial sanctions On Mali, approved Burkina transition timetable and gave Guinea an additional one-month reprieve to present an "acceptable" timetable. During the summit, Umaro Sissoco Embalo, president of Guinea-Bissau, was elected as new chairman of the bloc. West African leaders attending a regional summit agreed Sunday to lift sanctions on Mali and Burkina Faso, two neighbors led by military governments....

https://africanleadershipreview.com/west-african-leaders-lift-sanctions-on-mali-and-burkina-faso/

West African leaders met in Ghana, Sunday, to review sanctions imposed on three neighbor countries. Ecowas heads of states lifted economic and financial sanctions On Mali, approved Burkina transiti…

04/07/2022

Nigeria and Portugal on Friday in Lisbon signed a number of Memoranda of Understanding (MOU) for cooperation in different sectors. According to a statement issued by Garba Shehu Senior Special Assistant to the President (Media & Publicity), the signing ceremony was done by cabinet level officials from the two countries as part of President Muhammadu Buhari’s State Visit to the European Union country....

https://africanleadershipreview.com/nigeria-portigal-sign-mou-on-economic/

Nigeria and Portugal on Friday in Lisbon signed a number of Memoranda of Understanding (MOU) for cooperation in different sectors. According to a statement issued by Garba Shehu Senior Special Assi…

04/07/2022

The government of Ghana says it will begin talks with the International Monetary Fund (IMF) to support its economic programmes as part of efforts to hasten the country’s recovery from challenges caused by the pandemic. In a statement by the ministry of information, President Nana Addo Dankwa Akufo-Addo asked Ken Ofori-Atta, finance minister, to commence formal engagements with IMF in view of securing support to address economic woes in the country....

https://africanleadershipreview.com/ghana-to-begin-talk-with-imf-on-economic-support/

The government of Ghana says it will begin talks with the International Monetary Fund (IMF) to support its economic programmes as part of efforts to hasten the country’s recovery from challenges ca…

04/07/2022

Protesters stormed Libya's parliament building in the eastern city of Tobruk on Friday, demonstrating against deteriorating living conditions and political deadlock, Libyan media reported. Several television channels said that protesters had managed to enter the building and committed acts of vandalism, while media outlets showed images of thick columns of black smoke coming from its perimeter as angry young protesters burned tires....

https://africanleadershipreview.com/libya-protesters-storm-parliament-building-in-tobruk/

Protesters stormed Libya’s parliament building in the eastern city of Tobruk on Friday, demonstrating against deteriorating living conditions and political deadlock, Libyan media reported. Se…

04/07/2022

HONG KONG (Reuters) - Chinese property developer Shimao Group has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market. The non-repayment was the first missed public offshore payment for the Shanghai-based developer. With an outstanding $6.1 billion international bonds, Shimao is the sixth largest issuer among Chinese developers, according to Refinitiv....

https://africanleadershipreview.com/chinese-property-developer-shimao-misses-repayment-on-1-billion-bond/

HONG KONG (Reuters) – Chinese property developer Shimao Group has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattle…

28/06/2022

The West African Quality Education Awards 2022 will honour schools, institutions and organizations that have contributed through quality education in raising standard education and academic performance in West African sub-region. The Award is aimed at identifying, recognizing and rewarding schools, institutions and support organizations that adhere strictly to quality education principles and best practices. The event will hold on 11th July, 2022 at Sheraton Hotel & Towers, Ikeja, Lagos, Nigeria....

https://africanleadershipreview.com/the-west-african-quality-education-award-schools-and-education-products-exhibition-2022/

The West African Quality Education Awards 2022 will honour schools, institutions and organizations that have contributed through quality education in raising standard education and academic perform…

13/05/2022

By Ifeoma Ekeke Senegal has been elected to head the Bureau of the 54th session of the Economic Commission for Africa's Conference of African Ministers of Finance, Planning and Economic Development (CoM2022). The election took place on Wednesday at the opening of the CoM2022 Expert Group Meeting in Dakar, Senegal. The Bureau represents Africa's five subregions and comprises a chair, three vice-chairs and a rapporteur....

https://africanleadershipreview.com/senegal-elects-to-head-ecas-com2022-bureau/

By Ifeoma Ekeke Senegal has been elected to head the Bureau of the 54th session of the Economic Commission for Africa’s Conference of African Ministers of Finance, Planning and Economic Devel…

13/05/2022

By Amechi Obiakpu There are speculations that Jumia, one of the players in the African market, may be acquired by Konga, the leading composite e-commerce platform in Nigeria. According to sources, Chairman of Zinox Group, Leo Stan Ekeh, is ramping up shares in Jumia indirectly for a possible acquisition. Feelers say Eke, who is credited with pioneering e-commerce in Africa with his now-defunct BuyRight Africa over 12 years ago, is replicating the same strategy which he deployed successfully in acquiring Yes Mobile, a cosmopolitan high-value retail outfit, Ashour Corporation, a foremost telecommunications services provider headquartered in Dubai, UAE and more recently, Konga....

https://africanleadershipreview.com/africas-leading-e-commerce-site-jumia-may-be-up-for-acquisition/

12/05/2022

By Ifeoma Ekeke The Ethiopian Investment Commission disclosed that the has attracted 2.43 billion USD worth of Foreign Direct Investment (FDI) in the past nine months. According to Investment Commissioner Lelise Neme said the country has attracted the stated FDI from 118 investors from different countries including China, France, the U.S., Israel and Italy. She further explained that "We planned to attract 3.63 billion USD FDI....

https://africanleadershipreview.com/ethiopia-attracts-over-2-4-billion-fdi-in-nine-months-says-commissioner-neme/

12/05/2022

By Ajayi Olalekan Fertilizer suppliers in Ghana have come out to express their disappointment over the government’s failure to settle debts owed them for the supply of the product to farmers. The outstanding debts owed to suppliers by government have forced the suppliers to revise their arrangements with creditors; a situation they are unhappy with. This if not immediately tackled according to the suppliers, will lead to dire consequences in the food production value chain....

https://africanleadershipreview.com/ghana-fertilizer-suppliers-cry-over-governments-debts/

12/05/2022

By Lekan Ajayi The West African Health Organisation (WAHO), an organ of the Economic Community of West African States (ECOWAS), is working with five potential vaccine manufacturers to produce vaccines including COVID-19 vaccines for the sub-region and export to other countries around the world.Some of the companies have set August and September this year to start building their plants and subsequently start manufacturing vaccines in 2022....

https://africanleadershipreview.com/waho-selects-5-firms-to-manufacture-vaccines-for-ecowas-countries/

12/05/2022

By Ifeoma Ekeke Members of the Mobile Money Agents Association of Ghana (MMAG)have assured the government of its commitment to ensuring that the electronic transaction levy (E-Levy) implementation will be supported by its members. The General Secretary of the association, Evans Otumfuor, disclosed this in a meeting with President Nana Addo Dankwa Akufo-Addo at the Office of the President, Jubilee House, on May 10, 2022....

https://africanleadershipreview.com/mmag-supports-electronic-transaction-levy/

12/05/2022

…..Closes Usd 1.7 Billion Budget Package Ifeoma Ekeke The Angolan government and the World Bank on Tuesday signed the latest Development Policy Operation (DPO3), worth USD 500 million, for budget support, totalling USD 1.7 billion. The support has been designed, since 2019, within the framework of the programmatic series for growth and inclusion for World Bank Cooperation with Angola, since the beginning of the current governance....

https://africanleadershipreview.com/angola-world-bank-signs-usd-500-million-development-policy-operation/

11/05/2022

By Lekan Ajayi President Muhammadu Buhari has solicited support from the World Bank, African Development Bank, and other partners as he activates a $19bn One Planet Initiative project which will be utilised for land restoration, tree planting, development of climate resilience infrastructure and investments in small and medium sized farms. Buhari spoke in Abidjan, the Cote d’Ivoire capital yesterday, at a side event he convened at the ongoing United Nations (UN) Conference Of Parties (COP-15), in his capacity as the President of the Conference of Heads of State and Governments of the member states of the Pan African Great Green Wall Agency (PAGGW)....

https://africanleadershipreview.com/buhari-urges-world-bank-afdb-on-19b-one-planet-initiative/

11/05/2022

The National Union of Metalworkers of South Africa (Numsa) has served ArcelorMittal SA with a 48-hour notice of an industrial action on Monday evening after the meeting with the employer at the Metals and Engineering Industries Bargaining Council remained deadlocked. The strike is set to begin on Wednesday and will include pickets at multiple ArcelorMittal SA operations. The union demands a 10% wage increase across the board....

https://africanleadershipreview.com/s-africa-arcelormittals-workers-issue-strike-notice/

11/05/2022

By Ifeoma Ekeke The Central Bank of Egypt (CBE) has disclosed that the value of gold recorded in the foreign exchange reserves decreased by about $210 million during April. CBE disclosed this in a data published on it's website, stating that the value of gold recorded in foreign exchange reserves amounted to about $7.597 billion at the end of last April, compared to about $7.807 billion at the end of March....

https://africanleadershipreview.com/cbes-gold-reserves-drop-by-210m-in-april/