Category: African Business
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Cocoa prices unlikely to fall much this year despite higher production, media says
Weather conditions will become more favorable, which will lead to an increase in world production of cocoa beans by about 10%, causing their supply to exceed demand for the first time in four seasons, US media reported. However, the spread of chocolate tree diseases will hardly allow a return to previous prices. According to analysts…
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Global Gaming Giants are Increasingly Looking to Africa for Growth
The world’s youngest population, rapidly expanding internet connectivity, and increasingly widespread smartphone access are among factors driving growth of Africa’s games market. Gaming startups on the continent are attracting more funding and firms such as Disney, Electronic Arts (EA) and Riot Games are partnering with African gaming studios. The African gaming sector’s annual revenue is…
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Russia hopes to involve Tanzania in the development of the International North-South Transport Corridor
Tanzania’s strategic location makes its participation in the development of the International North-South Transport Corridor (INSTC) a promising area of international cooperation, as Tanzanian ports are connected to landlocked countries in the region, according to the Russian Ministry of Transport. Discussions on extending the INSTC to Africa, including the establishment of regular shipping lines, began…
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Equatorial Guinea appoints new prime minister amidst economic and political challenges
President Teodoro Obiang Nguema Mbasogo’s appointment of Manuel Osa Nsue Nsua as prime minister comes nearly three weeks after the resignation of the previous government, which the leader deemed “ineffective.” The previous prime minister, Manuela Roka Botey, the first woman to hold the position, submitted her resignation in July at the president’s request, just 18…
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Senegal enters the space age with the launch of its first satellite
The GAINDESAT-1a satellite was launched on August 16 aboard a SpaceX Falcon 9 rocket from the United States. Another 115 small satellites were also carried as part of the Transporter 11 space mission. “This is an “important step and a historic day in the march of our country and the will to make it a…
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Three-quarters of African Governments are Tightening their Belts
Africa has been through painful bouts of austerity before, with damaging effects on health and education. The IMF examined 82 instances of African governments reducing deficits between 1980 and 2021. About a quarter of the adjustments came from tax rises, and three-quarters from spending cuts. But this time governments plan to have an even split.…
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Congo’s South Kivu governor lifts mining suspension in province
Democratic Republic of Congo has lifted a suspension of mining activities in the South Kivu province, with the exception of gold extraction, the region’s governor said in a statement on Thursday. Gold, tin ore cassiterite and hi-tech mineral coltan from the eastern province are mostly mined by so-called “artisanal” miners using rudimentary means. Congo’s gold…
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Bon appetit: How bread is made in Ghana?
In Ghana, bread is typically made by mixing ingredients such as flour, water, yeast, sugar, salt, and sometimes milk or butter. The dough is kneaded until smooth, allowed to rise, and then shaped into loaves. These loaves are baked in either traditional clay ovens or modern bakeries. In the West African country, bread is a…
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Ethiopian prime minister inaugurates construction of Chinese-contracted economic zone
Named “Addis Tomorrow Special Economic Zone,” the new development is situated in the heart of Addis Ababa, the capital of Ethiopia. The inauguration ceremony took place a year after the signing of an agreement between the Addis Ababa City Administration and China Communications Construction Company (CCCC). The deal involves constructing the economic zone over a…
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Cameroon aims to become leading banana and plantain producer by 2030
Cameroon is intensifying efforts to become the world’s leading producer of bananas and plantains by 2030, said Gabriel Mbairobe, Minister of Agriculture and Rural Development. The plan includes boosting current production levels through targeted initiatives and partnerships. Currently, Cameroon produces over 6 million tonnes of bananas and plantains annually. The government aims to increase…
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