African Business News

East Africa portrays solid monetary development says AfDB report

Economic growth in East Africa is soaring ahead of other regions on the continent at close to 7 percent while the overall outlook for the rest of Africa is cautious, but positive, a report  by African Development Bank has observed.

Job creation and ramping up manufacturing will continue to be major priority areas for creating growth and employment across the continent, says AfDB.


Kenya's Xago Africa to Undertake $500 million Solar Project in Zambia

A renewable energy company based in Nairobi has entered into a top - dollar contract in Zambia to build a 300-megawatt solar power plant, becoming the latest energy company with Kenyan roots to branch out and bag lucrative cross - border deals.


Africa on a course to operationalize the largest Trade Arrangement

Treasure Maphanga, Director for Trade and Industry at the African Union (AU) Commission, said, "the unsegregated trade market commonly known as the "African Continental Free Trade Area" (AfCFTA) will be functionalised in July, setting the stage for Africa to start executing measures aimed at promoting the smooth movement of goods and services across the continent.


China Is South Africa’s Most Important Trade Partner

South Africa is countries where Chinese companies do not rely on ultra low-cost labour supplies, so its relationship with Chinese investors is different, says South Africa's trade and industry minister Rob Davies.


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