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Africa Economy Education Technology 

eSchools Africa Initiative set to cross the milestone for providing IT Infrastructure and Internet Connectivity to schools in Africa.

eSchools Africa Initiative is a scheme run by eSchools Africa LLC to enhance computer penetration and ICT for education in schools in Africa. The scheme currently operates in two countries in Africa. A pilot scheme of 15 schools in Busekelo district council at Mbeya region in southern Tanzania is now ready for Launch. This will see the scheme replicated across the rest of country, while in Nigeria agreements are concluded with 4 state Governments to connect over 3000 schools in Nigeria within the next 12 months. A statement issued by…

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Business Economy Featured General Technology 

I love Uber more than anything, CEO Travis Kalanick says as he quits

San Francisco — Uber CEO Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigned on Tuesday under mounting pressure from investors over his leadership. Kalanick’s departure caps a tumultuous period for the world’s largest ride-services company, which upended the taxi industry and transport regulations globally with Kalanick at the helm. “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors’ request to step aside so that Uber can go back to…

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Africa Business Economy 

Atlas Mara to sell big stake to Fairfax Africa, to boost share in Nigerian bank

Atlas Mara, the company co-founded by former Barclays plc head Bob Diamond, plans to sell a 35% stake to Fairfax Africa, to help fund the purchase of a larger stake in a Nigerian bank. Atlas Mara will raise $200m selling new shares to existing shareholders and Fairfax Africa and by issuing a convertible bond to the Toronto-based investment company, Atlas Mara said in a statement on Wednesday. London-listed Atlas Mara also agreed to acquire an indirect 13.4% shareholding in Union Bank of Nigeria from the Clermont Group for $55m, which…

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Africa Business Economy 

Ivory Coast and Ghana in talks for $1.2bn loan for cocoa output

Accra — The cocoa regulators of the world’s two biggest producers are in talks with the African Development Bank about a $1.2bn loan that will be used to increase output and mitigate against volatile prices, according to two people familiar with the matter. Ivory Coast and Ghana want to build storage facilities for local processing and for the storing and release of stocks based on market demand, said the people, who asked not to be identified because they’re not authorised to speak about the matter. The West African neighbours also…

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Africa Business Economy 

Ghanaian Businesses Explore Investment Opportunities In US

Eight companies from various industries across Ghana are participating in the 2017 SelectUSA Investment Summit in Washington D.C from June 18-20, ton, D.C, to explore opportunities in the United States. The Summit is the highest profile event to connect global companies and U.S. Economic Development Organizations (EDOs) to facilitate business investment in the United States. This was announced in a statement issued to the GNA by the U.S. Embassy, in Accra, on Monday. “U.S. Secretary of Commerce Wilbur Ross, according to the statement, stated: “We are entering a new period…

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Business Economy Education Featured General 

Companies benefit from the Fourth Industrial Revolution, but do countries?

By now we can see that the fourth industrial revolution can provide a solid competitive edge for companies who create innovative business models enabled by advanced technologies. But when it comes to national economies, where and how is the fourth industrial revolution (4IR) enhancing competitiveness? Using innovation as a proxy for the uptake of digital technology in developed economies, competitiveness of the top countries seems to line up fairly well with innovation. For example, nearly all of the top 10 countries named on the World Economic Forum Global Competitiveness Index…

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Africa Business Economy General 

Reshaping the Future of Real Estate for African Cities

JOHANNESBURG, South Africa, June 21, 2017/ — Researchers predict that in 2030, Lagos, Cairo and Kinshasa will each have to cater for over 20 million people, while Luanda, Dar es Salaam and Johannesburg will have crossed the 10 million mark. By 2035, close to 30 million people could live in Lagos alone, turning Nigeria’s commercial hub into the largest megacity on the continent. While Africa’s cities are growing rapidly in population, they are developing informally as current urban planning has proven to be ineffective, and private development is often deterred…

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Africa Business Economy Featured General Technology 

Mercer’s annual Cost of Living Survey finds African, Asian, and European cities dominate the list of most expensive locations for working abroad

NEW YORK, United States of America, June 21, 2017/ — Luanda overtakes Hong Kong as the most expensive city for expatriates to live in according to Mercer’s 23rd annual Cost of Living Survey. Victoria in the Seychelles ranks 14th most expensive city sharing the same ranking with Moscow. Cape Town, Blantyre and Windhoek ranks amongst the 15 cheapest cities globally. In a rapidly changing world, mobility has become a core component of multinational organizations’ global talent strategy. To support the growing number of international assignees working in an increased number…

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Economy Featured 

The MasterCard Foundation Appoints Three New Members to its Board of Directors

TORONTO, Canada, 21 June 2017 ,- The MasterCard Foundation today announced the appointment of three new members to its Board of Directors. They include Zein Abdalla, former President of PepsiCo, Inc.; Rt. Honorable Baroness Valerie Amos, Director of the School of Oriental and African Studies at the University of London and former Undersecretary General for Humanitarian Affairs and Emergency Relief Coordinator at the United Nations; and Jay Ireland, President and CEO, GE Africa. “We are delighted that these outstanding global leaders are joining our Board of Directors,” says Jim Leech,…

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Africa Business Economy Education 

Tax evasion and dirty money are draining Africa

Tax evasion benefits individuals to the detriment of society, wiping out state services. It also hampers the achievement of the eight United Nations millennium development goals (MDGs), which were designed to meet the needs of the world’s poorest people. If tax evasion takes place in the grey area between legality and illegality – such as when companies shift their headquarters to tax havens – tax fraud involves the overt breaking of laws. It is often combined with dirty money from illegal activities (trafficking, terrorism, etc.) and thus weakens the gross…

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