Video guest: Josephine Mwangi

November 2017
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Wednesday, 22 November 2017

Amethis Finance, a Paris-based company focused on investing in debt and equity in Africa, is seeking to raise Sh36 billion for investment in 11 countries including Kenya. Amethis Fund II is a 10-year closed-end generalist private equity fund targeting mid-market companies in financial institutions, fast-moving consumer goods, healthcare, agribusiness, education, IT and telecommunications. The International Finance Corporation (IFC), the World Bank’s private lending arm, is proposing to inject Sh1.8 billion in equity investment into the fund, its disclosures indicate. Amethis has in the past years invested in Chase Bank, Ramco Group and Kenafric Industries.

Tuesday, 21 November 2017

In order to promote socio-economic activities in Niger Delta and promote peace through increased access to safe and sustainable water supply, the European Union has released 20 million euros to the region. ‎This was revealed recently in Uyo, the Akwa-Ibom State capital during a media dialogue on Water, Sanitation and Hygiene (WASH) by UNICEF WASH specialist, Engr. Moustapha Niang. He said the project which is called the Niger Delta Support Project (NDSP) is a five-year project aimed at mitigating the conflict in the Niger-delta region by addressing causes of non-availability of potable water and bring lasting solutions.

The Executive Secretary of the Ghana Free Zones Board (GFZB), Mr Michael Okyere Baafi, says the board has positioned itself to learn about best practices from other international investment promotion agencies in the world. He explained that in fulfilment of its mandate, the GFZB needed to be abreast of global investment trends and the flow of capital around investment destinations and develop the right partnerships to attract the needed strategic investments. Mr Baafi was speaking to the Graphic Business after a delegation of the GFZB met with officials of CzechInvest, the investment promotion agency of the Czech Republic, om Monday 25 September to share insights into how to attract foreign direct investments around the world.

Monday, 23 October 2017

Europe’s second largest port, Antwerp in Belgium, maintains special links with the African continent, thanks to the variety of goods it handles and the routes it serves. Antwerp is the story of a river port, which managed to venture forth from the estuary of the River Scheldt and reach the furthest points of the earth. Its saga has lasted more than eight centuries, marching to the beat of globalisation. While it took the Flemish port seven hundred years to reach 100 million tonnes of annual traffic, it only took another twenty-five to double that volume. With 214 million tonnes handled in 2016, it is now one of the world’s twenty busiest ports, between the giants of Asia and still in the immovable shadow of Rotterdam. But unlike its eternal rival, Antwerp does not ride on the black gold of the oil trade.

Thursday, 12 October 2017

Ministers of Trade from the Member States of the West African Economic and Monetary Union (WAEMU) met at the end of September 2017 in Cotonou in Benin, under the initiative of the WAEMU Commission, for their annual meeting to discuss the evolution of the main dossiers relating to the implementation of the Union’s trade policy. In their final declaration, the Trade Ministers of the Member States of the West African Economic and Monetary Union (WAEMU) called on the three countries still to sign to do so in order to preserve the gains of integration in West Africa. The latter took note of the efforts made by the Commissions of ECOWAS and WAEMU to ensure that all the States sign the EPA.

Monday, 09 October 2017

The Department for International Development has defended its aid budget for Nigeria, which is facing an unprecedented humanitarian and security crisis caused by attacks led by the terrorist group Boko Haram. Boris Johnson, the foreign secretary, and Priti Patel, the development secretary, jointly announced £200m in aid over the next four years, during a visit to the country on Wednesday. The projected average annual funding of £50m in that time period falls short of the £100m pledged to Nigeria for 2017. But DfID played down the suggestion that the new pledge amounted to a halving of the annual budget, claiming the additional funding was part of a £300m five-year package.

Counsellor and Head of Trade and Economics of the European Union Delegation to Nigeria and the Economic Community of West African States (ECOWAS), Fillippo Amato, has said trade between Nigeria and European Union (EU) member states stood at 19.9 billion Euros in 2016, Besides, Amato stressed the need for the Nigerian government to expand its tax base in order to diversify its revenue. He disclosed this at a press conference to announce its sixth edition of the EU-Nigeria Business Forum slated for October 5 to 6 in Lagos.

Friday, 06 October 2017

A new organisation which aims to bring together businesses in Ghana and Ireland has been launched in Accra. Business Ireland Ghana (BIG) is being set up at a time when trade between Ireland and Ghana is growing. The organisation’s members come from the established Irish business community in Ghana, companies in Ireland looking to expand into Ghana, and Ghanaian businesses with an interest in Ireland. Launching Business Ireland Ghana, the Irish Ambassador to Ghana, Nigeria and ECOWAS, Sean Hoy, said that it was an exciting time to launch the network.

The EU delegation to Nigeria said the 6th edition of the European Union-Nigeria Business Forum will place emphasis on the role of young people in Information and Communication Technology (ICT) and agribusiness. Filippo Amato, Counsellor and Head of Trade and Economics Section for the EU delegation to Nigeria and ECOWAS disclosed this during a press conference in Lagos recently. The theme of the conference ‘Youth as an Engine of Broad-based Economic Transformation’ is apt, according to Amato, because it brings attention to a segment of the Nigerian population that has increasingly contributed to the economy of the country. The theme, he added, aligns with the forthcoming Africa Union and EU summit later this year.

Monday, 02 October 2017

The Nigerian Ports Authority, NPA, has concluded arrangements to sign a Technical Collaboration Agreement with the Port of Antwerp, Belgium towards increasing the export of Nigerian fruits to the European countries. Tunde Okoya, President of the Nigerian-Belgian Commercial Information and Documentation Centre, NBCIDC, disclosed this to News Agency of Nigeria, NAN, on Monday in Lagos. Mr. Okoya said that with the agreement, more Nigerian fruits would have the opportunity of being re-exported from the Port of Antwerp, Belgium to the various European countries.

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