The Africa Finance Corporation (AFC) held its inaugural Investment Summit in Lagos, Nigeria on the 25th March 2014. The theme of the summit was ‘Bridging the Infrastructure Investment Divide,’ the summit attracted more than 500 business leaders from across the continent, and featured several significant actors in the infrastructure development sector.
Africa retail sector on the verge of sky-rocketing with big international brands landing on our shores. Large international retailers eager to get a footprint on the African continent are using South Africa as their vantage point, while they assess their next expansion point into the growing economies of Africa.
With daily blackouts and crumbling power infrastructure that has until recently seen little or no investment in over three decades, Nigeria has been christened the Generator Republic. Most households and virtually all serious businesses have resorted to self – help, investing heavily in generators and other back-up power systems to meet their daily electricity needs.
Royal Philips has announced the establishment of the Africa Innovation Hub, which is to be based in Nairobi, Kenya. The Philips Africa Innovation Hub will work both on the creation of new inventions, as well as bringing these inventions to the market.
Nigeria’s economy surpassed South Africa’s as the largest on the continent after its gross domestic product (GDP) data were overhauled for the first time in two decades. The size of the economy was estimated at 80.3 trillion naira (R5.1 trillion) for 2013, based on production patterns in 2010, increasing the number of industries
According to the 8 April 2014 IMF World Economic Outlook (WEO) Press Briefing in Washington DC, Africa’s growth trend will continue strongly, but, warns Olivier Blanchard, IMF Economic Counselor and Director of Research Department, the continent’s economic and business environment will be “more bumpy looking forward”.
Family businesses present a range of benefits in terms of the potential for a close-knit team, and readily available, if sometimes limited, financial support. While family businesses tend to imply a smaller business, family-run companies can turn into significant economic powerhouses, and launch dynasties.
Africa is a large and diver continent which offers a lot of opportunity and avenues for FDI. With mineral wealth, strong demographics, increasing middle/consumer class and improving political and regulatory environments, we expect Africa to continue to attract the interest of international investors.
Nigerian banks have been advised to always guard against high cost-to-income ratios. The Partner, Management Consulting, KPMG, United Kingdom, Mr. Adrian Harkin, gave the advice in an interview with journalists on the sidelines of a seminar on cost optimisation that was recently organised by the professional services firm in Lagos,
Africa Brief: Barclays Africa looks at asset disposals, Egypt Cellular licence to cost R3.8bn and more…
Barclays Africa Group is looking to dispose of about R400m assets this year as part of its strategy to exit noncore activities and reduce risk to revenue. The retail and business banking unit is looking to dispose of investment properties while the head office has a number of assets classified as property within corporate real estate services that are classified as held for sale.
The Gross Domestic Product (GDP) rebased figures which will be released today is coming after a 24-year wait as the last rebasing exercise was done in 1990. Though it was meant to be done again in 2000 but was shelved due to some “strategic economic considerations”, people familiar with the strategy told THISDAY.
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