Top 10 companies profiting big time from deadly wars

It is generally agreed that wars and conflicts are major causes of poverty across the world. Civil wars in the Middle East, international terrorism, cyber attacks, and increasing tensions between global powers, have become issues of concern for citizens and world leaders, according to 24/7 Wall St. In the event of these disturbances, civilians and local people suffer, however, big businesses make profits. By supplying military hardware and weapons to parties of war, the business of war remains a good one for these companies. More about this Military spending is,…

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South African rand lifted by Chinese growth; stocks flat

JOHANNESBURG (Reuters) – South Africa’s rand firmed on Wednesday as an unexpected rise in economic growth in major trading partner China boosted demand for emerging market currencies worldwide. A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo At 1600 GMT the rand was 0.1 percent firmer at 14.0150 per dollar, with reduced trading volumes ahead of the Easter public holidays amplifying moves. China’s economy grew at a better-than-forecast 6.4 percent in the first quarter, defying expectations for a further slowdown and spurring appetite…

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West Africa’s mobile economy grows, says GSMA Report

In 2018, mobile technologies and services generated $52 billion of economic value (8.7% of GDP) in West Africa, this is according to the GSMA’s Mobile Economy West Africa 2019 report released yesterday during its Mobile 360 West Africa event in Abidjan. This figure is expected to reach almost $70 billion (9.5% of GDP) by 2023 as countries increasingly benefit from the improvements in productivity and efficiency brought about by increased take-up of mobile services. By the end of 2018, there were 185 million unique mobile subscribers in West Africa, an increase…

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Innovative Strategies and Technologies Driving Access to Finance in West Africa’s Financial Sector

By Dr. Mudashiru Olaitan * Mudashiru Olaitan The key mandate of the development finance department is promoting access to finance to ensure job creation and sustainable inclusive economic growth in Nigeria  We at the Central Bank of Nigeria are open to attending conferences like the Future Banking Technology West Africa summit, because it gives us insights into emerging innovations in the financial, banking and technology landscape. It also provides an avenue for us to learn about innovative financial service solutions that could enhance delivery of development finance services to clients in…

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Kagame visit to U.S. church meets with criticism

The human rights record of President Paul Kagame of Rwanda is under renewed scrutiny after he appeared at the weekend with Christian pastor Rick Warren, left, at his Saddleback Church to focus on reconciliation and the recovery of trauma. Kagame, who has a long relationship with Warren’s Baptist-affiliated megachurch in California, appeared during the April 14 church service. He described Rwanda’s journey to healing from a 1994 genocide that claimed the lives of more than 1 million people, primarily Tutsi but also moderate Hutu and others opposed to the brutal…

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Report: DR Congo military leader involved in illegal timber trade

An investigative report from Global Witness accuses a high-ranking though disreputable military leader in Democratic Republic of Congo of acquiring illegally traded timber licenses in a matter of days, and then selling the associated company to a Chinese timber kingpin already operating in the country. General Gabriel Amisi Kumba is a close associate of former president Joseph Kabila, who remains influential despite his succession by President Felix Tshisekedi in January. Amisi, sanctioned in 2016 by both the United States and European Union for human rights abuses, received the concessions despite…

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The Future Of E-commerce In Africa: A Mere Illusion?

By Nicolas Goldstein, Cofounder of Talenteum.Africa It is undeniable that the growth of e-commerce is still going strong around the world. The African continent has also been seduced by online sales and electronic transaction. However, if we want to see the interesting predictions about e-commerce in Africa come true, it is imperative that the African continent as a whole sees that the ongoing impediments to its progress are addressed. When one takes a look at the statistics ; it is obvious that Africa is coveting e-commerce. Even if the African countries…

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South Africa preps for Brexit outcome

South Africa fears for its trade relations with the United Kingdom as the latter negotiates a good deal for Brexit. The country is considering several scenarios that could have an impact on bilateral and multilateral agreements. Brexit will primarily affect trade and investment. Most of the UK’s trade agreements with African countries have been negotiated through the EU. So the question would arise if Britain were to leave and there was no agreement, what would happen to the recognition of inputs? As a result, these agreements will no longer be…

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Q&A: African Finance and Infrastructure Foreign Investment

A vision of the future of Petronia City – a proposed 2000-acre city development in Ghana. A unique perspective from British multi-millionaire property developer Azad Cola and Ghanaian serial entrepreneur Nana Bediako who recently joined forces to establish an investment company, Capital Nine Zero (CNZ), to develop Petronia City – a 2000-acre city development project in Ghana. Azad Cola and Nana Kwame Bediako Why is Africa a land of opportunity? Because there is so much to be done. Africa imports almost everything just to meet existing demand. As these imported…

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Nigeria’s parliament recommends tax rise on luxury goods

A vendor poses as he counts Nigerian naira banknotes inside a shop in Idumota Market, in Lagos, Nigeria February 11, 2019. REUTERS/Nyancho NwaNri ABUJA (Reuters) – Nigeria’s parliament has asked the government to consider increasing taxes on luxury goods to boost revenues, it said on Tuesday. An expenditure plan approved by the Senate on Tuesday showed Nigeria is expected to generate 172.47 billion naira ($564 mln) from privatisation proceeds this year. The budget deficit for 2019 is estimated at 1.86 trillion naira ($6.1 bln), according to the plan. Lawmakers said…

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