Category: Africa
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Ghana ranked best investment destination in West Africa, 6th best in Africa by Rand Merchant Bank
Ghana has been ranked the most attractive West African investment destination by the Rand Merchant Bank, beating Nigeria which is the largest Economy in the subregion. The report also shows Ghana as the 6th best investment destination in Africa. Ghana scored 5.54 while Egypt which the report describes as the most attractive investment destination in…
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Yofi Grant re-elected as Regional Director for the Steering Board of WAIPA
The Ghana Investment Promotion Centre (GIPC) represented by its Chief Executive Officer (CEO) Yofi Grant, has been re-elected as the Regional Director (Sub Saharan Africa) for the Steering Board of the World Association of Investment Promotion Agencies (WAIPA). The elections took place during the 25th WAIPA General Assembly and World Investment Conference, which occurred in…
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African businesses urged to adopt robust strategies to benefit from free trade agreements
Given the enormous advantages that Free Trade Agreements such as the Africa Growth and Opportunity Act (AGOA) with the USA, the African Continental Free Trade Agreement (AfCFTA) amongst others present, African businesses have been urged to acquire a distinct identity through a well-invested strategy, in order to properly position themselves before competitors, customers, stakeholders, and…
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South African Airways resumes operations in Ghana
As air traffic in amid the coronavirus pandemic has started picking up gradually, South Africa Airways (SAA) has re-launched its passenger flight operations from Johannesburg to Accra. This comes 18 months after the national carrier was forced to stop flying commercial in 2020 due to its worsening financial situations amid heightened travel restrictions in the…
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South Africa’s Massmart to sell 14 Game stores in East and West Africa
Massmart (MSMJ.J) is disposing of all its general merchandise Game stores in West and East Africa to stem losses in that struggling business. Reuters reports that the decision comes after the second-largest distributor of consumer goods in Africa reported a narrower half-year loss. Like its peer Shoprite Holdings (SHPJ.J), forays into African markets including Nigeria…
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South African Airways to resume scheduled flights in September
South African Airways has announced that it will from 23 September resume scheduled flights to Accra and some parts of Africa. This comes after the national carrier was forced to stop flying commercial in 2020 due to its worsening financial situations amid heightened travel restrictions in the country due to the COVID-19 pandemic. Earlier in…
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African countries must jointly negotiate with China for better deals – IEA
The Institute of Economic Affairs (IEA) says African countries must begin collaborative negotiations when doing business with China. According to the Civil society Organisation, this move would give countries on the continent better leverage in their deals with the Asian country. China continues to be a major business player with most African countries. Ghana for…
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Piloting of Pan African Payment and Settlement System to end in December
The pilot of the Pan African Payment and Settlement System (PAPSS) will be completed by December 2021. This is according to the Executive Vice President of the Afreximbank, Denys Denya. Already, the testing process is happening in six African countries and will soon be implemented to boost trade in Africa. Giving updates on the system,…
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African governments urged to ensure smooth implementation of Pan African Payment system
African countries have been asked to build an integrated and organized financial mechanism, and allow an independent monetary system, to ensure the smooth and effective implementation of the Pan African Payment and Settlement System (PAPSS). This was captured in a communiqué issued at the end of the 5th Ghana International Trade and Finance Conference. The…
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Africa’s COVID-19 funds management lack transparency – CTAP
While governments strive to tackle Covid-19 pandemic and revive their economies from its ravages, concerns about possible misuse of covid-19 funds continue to grow in Africa. This is according to the COVID Transparency and Accountability Project (CTAP). A research conducted in seven African countries (Ghana, Nigeria, Malawi, Sierra Leon, Kenya, Cameroon, Liberia), by CTAP showed…