3 years on: AfCFTA struggles to unlock Africa’s intra-trade potential
Post AMUGE
December 23, 2024
Inter-African trade stands at 17%- Afreximbank Experts blame poor AfCFTA performance on divergent currencies, poor infrastructure, others ONOME AMUGE Africa, rich in resources, and brimming with a population of over 1.3 billion potential consumers, would appear to present lucrative opportunities for economic growth and development. However, intra-continental trade has remained sluggish, a glaring contrast to […]
Fitch raises concerns over African banks’ prospects for 2025
Post AMUGEDecember 17, 2024
Onome Amuge The stage is set for a challenging year ahead for African banks, as Fitch Ratings has issued a challenging financial outlook for the banking sector in its African Banks Outlook 2025 report. Fitch highlighted the vulnerability of African banks to both domestic and global economic conditions, suggesting that although many countries display solid […]
The Corporate Awards honour Africa’s top business leaders at 10th annual edition
Post AMUGEDecember 15, 2024
Onome Amuge The 10th annual edition of the prestigious Corporate Awards, a Pan-African recognition platform for excellence in business sustainability, CSR, HR policies, and governance, recently made its way to Johannesburg, South Africa for the first time ever. The event, organised by FabAfriq Media Group, marked a milestone in the corporate world, solidifying its status […]
African countries hit with 500% higher global debt costs, says AfDB
Post AMUGEDecember 2, 2024
Onome Amuge African countries are facing an overwhelming 500 percent increase in debt servicing costs when borrowing from global markets, according to the African Development Bank’s chief economist, Kevin Urama. Urama stated this during a recent African Union Extraordinary Session in Abuja, Nigeria. Urama outlined the debilitating financial stress that Africa is struggling with, stemming […]
African Sub-Sovereign government leaders, businesses meet in Kenya to discuss inclusive growth, others
Post AMUGENovember 26, 2024
Bamidele Famoofo Over 250 Sub-Sovereign government leaders from across Africa are today meeting in Kisumu, Kenya, for the the fourth edition of the African Sub-Sovereign Governments Network (AfSNET) Conference. Taking place between the 25th and 27th of November, the event provides a platform for Sub-Sovereign leaders and businesses to discuss how their local governments can attract investments […]
78% African youth identify climate change an existential threat to existence
Post AMUGENovember 20, 2024
Business a.m. A groundbreaking study, conducted by the Ichikowitz Family Foundation and presented at the ongoing COP29 conference in Baku, Azerbaijan, has revealed that 78 percent of African youth see climate change as an existential threat to their existence. Headquartered in Johannesburg, South Africa, the Ichikowitz Family Foundation is committed to unlocking the immense potential […]
Africa’s gas ambitions rise, but Future uncertain as experts discuss challenges in shifting energy landscape
Post AMUGEOctober 9, 2024
Business a.m. To succeed in the highly competitive international gas market, Africa must ensure that it provides a compelling value proposition to its stakeholders, according to experts in the energy sector. The continent’s gas investment proposition, they argue, must be relevant, future-proof, and in line with both financial and environmental sustainability needs, if it is […]
IFC invests in Equator Africa Fund I to support African climate sector tech businesses
Post AMUGEOctober 4, 2024
Busayo Samuel International Finance Corporation ( IFC) has announced an investment in Equator Africa Fund I, marking its first-ever investment in a venture capital fund entirely focused on supporting businesses and innovation in the climate sector. Equator Africa is backing early-stage, tech-enabled companies in sub-Saharan Africa, including those working on green solutions in the energy, […]
GABI pushes to strengthen Africa’s role in shaping global business solutions
Post AMUGESeptember 10, 2024
Onome Amuge The Global Africa Business Initiative (GABI), a leading organisation championing the economic interests of the African continent, has announced its plans to convene a high-level gathering of government officials, business leaders, and industry experts in New York City from September 25-26,, 2024. The event, announced at a virtual press briefing, aims to forge […]
ARDA moves to harmonise fuel specifications for African refiners
Post AMUGEAugust 19, 2024
Anibor Kragha, executive secretary, African Refiners and Distributors Association (ARDA) Refineries upgrade is key, with $15.7bn as of 2021 Nigeria, West Central Africa require $6.28bn to upgrade 12 refineries North Africa with 17 refineries, needs $5.95bn vs ESA’s $3.42 for 7 refineries Ben Eguzozie Africa’s petroleum industry is witnessing downstream expansion. This stems […]