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Thu,23Nov2017

trade

Oui and Gas: Israel's Tamar group to sell gas to Egypt via pipeline

A group of private customers in Egypt have agreed to buy at least $1.2 billion of natural gas from Israel's offshore Tamar field via an old pipeline built to send gas to Israel.

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Africa's development: How to get there, fast

Donald Kaberuka, President of African Development BankAfrica needs quality education and a reliable power infrastructure to realise its growth potential, high profile panelists told more than 800 business and political leaders at The Africa CEO Forum in Geneva, Switzerland.

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African lions follow in the footsteps of Asian tigers

African companies face stiff international headwinds in the year ahead, a period in which governments are lowering intra-African trade barriers and companies are increasing their reach and sophistication.

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Trade: Nigerian central bank plans sanctions against exporters

Photo©ReutersNigeria will enforce the repatriation of dollar-proceeds from exports and is planning sanctions against those not complying, Central Bank Governor Godwin Emefiele told Reuters on Tuesday.

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US-Africa trade: AGOA's short term headaches

The Shining Century Textile company in Maseru, Lesotho. Photo©World Bank/John HoggEmboldened by high demands of their mineral resources, African countries are demanding change to AGOA, a US-Africa trade treaty, including its extension for at least 15 years. At fault are the uncertainties of the treaty, and its limiting structures.

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Investment: ITE Group enters Africa with Africa Oil Week conference acquisition

ITE Group Plc, a trade exhibition and conference organiser, said it had acquired a majority stake in a portfolio of events from GPP Energy Advisors Ltd for 16 million pounds ($24 million).

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Cote d'Ivoire must avoid over-production of cocoa - ICCO boss

Photo©ReutersIvory Coast, the world's top cocoa producer, must avoid over-production the International Cocoa Organization's (ICCO) executive director said.

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Nigeria hit by fuel shortages

Oil-rich Nigeria's main cities are facing acute gasoline shortages as importers feel the pinch of a plummeting local currency, tighter credit lines and unpaid government subsidies, oil traders and local industry sources said.

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Every inch of Rwanda's economy is for private investment - Francis Gatare

Francis Gatare, Chief executive, Rwanda Development Board. Photo©Cyril NdegeyaThe rwanda Development Board, a body tasked with coordinating government activity and encouraging investment, is paving the way for multi-sector growth through privatization.

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People are at the heart of China-Africa engagement

While the state-level connections – trade, investment, bilateral agreements and loans – continue to claim most of the headlines, it is worth remembering that these connections are peopled, says Yoon Jung Park, Convener-coordinator at the Chinese in Africa/Africans in China Research Network.

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Nigeria-Rwanda: A big brother, little brother affair

Nigerian businesses are rushing to connect with tech-loving Rwanda. Photo©Jonathan Torgovnik/Reportage by Getty ImagesOne seeks to become a middle-income, 'knowledge- based' economy; the other to join the top 20 in the world. You scratch my back, as the saying goes.

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Kenya to start work on new northern seaport

President Kenyatta says the port will provide an opportunity for the exploitation of the country's maritime resources. Photo©ReutersKenya will start construction work next month on a long-delayed new port to be built on its northern coast, next to the historic trading town of Lamu, the presidency announced on Monday.

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Kenya stockbrokers back down on threat to stop trading

Photo©ReutersKenyan stockbrokers said they would resume business as normal on Friday after backing away from a threat to stop trading for a month due to a court case involving the reintroduction of a capital gains tax, their association said.

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Cameroon cocoa exports up as Cote d'Ivoire suffers bean rejection

Photo©ReutersCameroon had exported 146,893 tonnes of raw cocoa beans in the season to the end of January, about 10 percent more than at the same stage last year, statistics from the National Cocoa and Coffee Board (NCCB) showed on Thursday.

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Africa-China: Obstacles surmounted from generation to generation

Photo©Courtesy of Barry SultaneBarry Sultane, a 60-year-old Guinean, settled in China 12 years ago. He trades in machinery and chemicals, with customers in Africa and the US. He lives with his wife and three children in Guangzhou.

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Turkey keen to increase trade volume with Ethiopia

Turkey says it is keen to increase its current trade volumes with Ethiopia to reach a half a billion dollar mark from the present $400 million.

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African economies to perform better in 2015

Photo©ReutersAfrican economies will continue to grow in 2015 due to private investment and consumption, which have been key drivers of Gross Domestic Product (GDP) over the past years, a new UN report projects.

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Nigerian central bank increases forex trading limits for lenders

Photo©ReutersNigeria's central bank increased the foreign currency trading position for commercial banks on Thursday to 0.5 percent of their capital base from 0.1 percent, in a move to shore up interbank dollar liquidity.

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Egypt's president to turn economy around with mega trade deal with Britain

Egyptian President Abdel-Fattah al-Sissi. Photo©ReutersEgyptian President Abdel-Fattah al-Sissi has secured a trade deal with Britain focused on developing the energy, real estate and construction sectors in the North African country.

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Kenya: EU to lift export taxes on flowers as Valentine's day looms

Photo©ReutersThe European Union will grant an early return to duty-free trade in a range of agricultural products from east Africa, its ambassador to Kenya said on Wednesday, in a "Christmas gift" for Kenyan flower growers ahead of Valentine's Day.

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