African Business News

Ethiopia earns record 866 mln USD from coffee export

Ethiopia has announced a record 866-million-U.S.-dollar earning from coffee export during the just concluded fiscal year.
The announcement by the Ethiopian Coffee and Tea Development and Marketing Authority on Wednesday said Ethiopia has secured the revenue from the export of 221,000 tonnes of coffee to the global market.

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Ethiopia is 5th leading investor in Renewable energy in Africa

Ethiopia is the 5th major investor in renewable energy in Africa at US $ 100 million, according to the Renewable, Global Status Report, according to Capital. South Africa leads in renewable energy investment followed by Morocco, the second major renewable energy investor at US$ 2 billion.

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Africa-India trade multiplied in last 15 years: PM Modi at AfDB meet

NEW DELHI: Prime Minister Narendra Modi on Tuesday said that "Africa is top priority for India's foreign and economic policy and there isn't a single African country which hasn't been visited by an Indian minister."
"India's partnership with Africa is based on a model of cooperation which is responsive to the needs of African countries," PM Modi said while speaking at the 52nd African Development Bank (AfDB) meet in Gujarat's Gandhinagar .

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CHINA’S KEEN INTEREST IN THE AFRICAN AUTOMOTIVE MARKET

The global automotive business is in its most disruptive era since the advent of the industry over a century ago, creating an abundance of opportunities for new and established companies in the global automotive market. Analysts anticipate the market to grow by 2%, reaching 91 million new units sold in 2016.
The African economy has seen steady growth for the past decade and even with sustained low oil and commodity prices, the automotive industry is expected to grow considerably in most countries. Africa is forecast to grow between 3% and 3.7% in 2016 with East Africa retaining its position as the fastest growing region on the continent.

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