Home » Archives by category » Economy (Page 49)

World’s First Tea Futures Contracts May Be Started in Kenya

World’s First Tea Futures Contracts May Be Started in Kenya

Kenya, the world’s biggest exporter of black tea, is considering introducing the world’s first futures contracts for the leaves to help stabilize prices and enable growers to guarantee income from their production. INTL FCStone Inc., based in New York, has held talks with industry representatives in the East African nation about introducing the derivatives, Stuart […]

Africa Has a Problem With Cold Storage; Costing It Almost Half Of Its Perishable Harvests

Africa Has a Problem With Cold Storage; Costing It Almost Half Of Its Perishable Harvests

Africa has to prioritise investing in cold storage to prolong harvest life and ensure the benefit of the value chain is felt by the continent. Forty per cent of perishables harvested in Africa are lost before reaching the consumer creating a loss for farmers and the agriculture industry; with cold storage initiatives this lifespan can […]

Remittances Are a Mainstay For Millions of The World’s Poor – Let’s Improve Them

Remittances Are a Mainstay For Millions of The World’s Poor – Let’s Improve Them

Remittances are a hidden force international development. The World Bank estimates that $601bn (£424bn) was sent in remittances last year, $441bn of which was received in the developing world. This is three times the amount sent in international aid. Today is the International Day of Family Remittances, started last year by the International Fund for […]

GE Remains Committed To Africa’s Growth

GE Remains Committed To Africa’s Growth

Seven of GE’s top leaders have travelled to key African markets so far this year, signaling GE’s strong commitment to Africa. GE remains committed to partnerships which further develop Africa’s rich potential, particularly in oil & gas, power, and mining, as well as other sectors. Here’s what they say about Africa, in seven punchy soundbites. […]

Tips for Starting a Company Without Any Business Skills

Tips for Starting a Company Without Any Business Skills

Q: What advice do you have for someone looking to start a fashion company but has no experience in the field of business?  — Twitter profile Dalphine Twins A: Some of the most successful founders I’ve had the pleasure of mentoring started their entrepreneurial journeys without any prior business experience. Having a business background isn’t necessary to start a fashion company, or any company for that matter. Business skills can be acquired through great teammates […]

Can This Massive Refinery Solve Nigeria’s Energy Crisis?

Can This Massive Refinery Solve Nigeria’s Energy Crisis?

Nigeria has a problem: The country is one of the world’s top oil producers, but it doesn’t have enough gasoline to fuel its struggling economy. On the outskirts of Lagos, Africa’s richest man is building what he says is a solution to the country’s fuel crisis: A massive, 650,000 barrel-per-day refinery that is designed to […]

Nigeria, South Africa Need $90b To bridge Energy Gaps For Telecoms Services

Nigeria, South Africa Need $90b To bridge Energy Gaps For Telecoms Services

PWC canvasses renewable off-grid tech under Power Africa initiative Sub-Saharan African (SSA) countries including Nigeria, South Africa, Kenya, Angola, among others might need between $60 billion and $90 billion (N17.7 trillion) yearly investments to bridge the growing energy gaps in the region for a sustainable telecommunications sector. This major investment is expected to go into […]

EU Watchdog Lauds Insurers’ Moves To Adopt Business Models

EU Watchdog Lauds Insurers’ Moves To Adopt Business Models

Insurers are making progress in adjusting their business models to account for low-interest rates and the complex new risk-capital regime called Solvency II that took effect at the start of the year, the EU’s top insurance regulator said. Insurers have also been diversifying their investment portfolios to obtain greater returns, while avoiding an alarming increase […]

Geraldine Fraser-Moleketi Launches Women Empowerment Fund

Geraldine Fraser-Moleketi Launches Women Empowerment Fund

Geraldine Fraser-Moleketi has launched a $300-million (R26-rillion) empowerment fund, the Affirmative Finance Action for Women in Africa (AFAWA), specifically designed to help female-owned businesses on the continent with finance in order to thrive. The AFAWA Program, according to Fraser-Moleketi, plans to address the financing gap that exists with respect to women’s access to finance and […]

ExxonMobil CEO: Ending Oil Production ‘Not Acceptable For Humanity’

ExxonMobil CEO: Ending Oil Production ‘Not Acceptable For Humanity’

Rex Tillerson, the boss of oil giant ExxonMobil, said cutting oil production was “not acceptable for humanity” as he fought off shareholders’ and activists’ attempts to force the company to fully acknowledge the impact of climate change on the environment and Exxon’s future profits. During a long and fractious annual meeting in Dallas on Wednesday, […]