Presenting a roundup of the biggest news in business, start-ups and investment across Africa right now, in case you missed it.
Img: French president, Emmanuel Macron, arrives in Mauritania for the 31st African Union Summit.
Now for the news:
1. Did you know Cote d’Ivoire and Ghana produced roughly 60% of the world’s cocoa? The two countries have come together to form a cooperative to set common goals with farmers’ prices, volumes, timing and export targets for the 2019/2020 season.
Img src: rough diamonds.
3. Radisson Blu, currently Africa’s fastest growing hotel brand is to add 50 more hotels to its African suite of hotels in the coming years. View full report here, Nigeria still leads in the continent for hotel expansion.
4. World Bank has provided additional funding to the Ghana Commercial Agriculture Project to help ramp up the country’s agricultural footprint.
5. Tanzania sees potential in Cotton production and exports; the country aims to increase production from $30M currently to $150M, by 2020.
Img: cotton plant pic.
6.British American Tobacco Nigeria Foundation (BATN) is planning to invest 700mil Naira to support Agri Entrepreneurs and small-scale Farmers between 2018 to 2022.
7. Google Challenge to award $250,000 USD investments for social enterprise in Kenya, South Africa and Nigeria is still on till 4th of July 2018. Details here.
8. Top companies to work for released through a survey by Africa Business Magazine
Img src: Choice FM Kenya.
9. African Guarantee Fund has received $26 MIL capital from its investing fund partners to help invest in Small Medium Enterprises (SMEs) across the continent.
10. French President Emmanuel Macron was in Mauritania for the African Union meet; he will also visit Nigeria from July 3rd, making a historic visit to the iconic Fela Kuti Shrine, now the New Afrikan Shrine. The Tony Elumelu Foundation has a live session with him scheduled for the 4th of July; join live if you cannot visit the location.
Img src: Tony Elumelu Foundation Twitter.
11. Morocco and Nigeria sign deal on completing the gas pipeline project with the aims to speed up gas resourcing between the two nations and to other West African countries.
12. Kenya is the largest flower supplier to Europe and the largest exporter of flowers in Africa, suppling over 6% of the world’s flowers in 2017 ($540.9 million export value). The seventh edition of the International Flower Trade Expo (IFTEX) took place in Nairobi, Kenya recently with over 6,000 delegates in attendance as Kenya looks to expand its supply prospects.
Img src: flowers.
13. Japan’s Tokyo Gas and Britain’s Centrica join forces to bid on Mozambique LNG $20B Anadarko Petroleum deal.
14. Investec CEO, Hendrik du Toit, calls on the World to join China and invest in Africa’s future, especially from large institutional investors. Russia and Turkey have been seen making moves recently.
15. Forbes Africa released the 90 under 30 list; this list usually is made up of 30 inspirational under 30 innovators. For the first time, Forbes published 90 individuals in this Under-30 category.
Img: Forbes Africa 90 under 30
16. As the African Union Summit comes together for the 31st edition, South Africa signs agreement for free trade with the members of the African Union. 44 countries signed the agreement about 3 months ago but some countries had reservations. However, five more countries (South Africa, Sierra Leone, Namibia, Burundi and Lesotho) have now signed increasing confidence in the African Continental Free Trade Agreement.
17. Ethiopia is on a mission to expand its economy, recently opening up the country to international foreign private investments in traditional state owned monopoly industries like telecoms, airline, hydroelectric and shipping logistics sectors.
19. Africa’s up and coming artificial intelligence industry just got certified by Google as Google announces its next A.I. research center will be on the African continent, Ghana.
Img: Sophia the robot was in Africa recently 😉
20. New women owned bank set to launch in South Africa; the Young Women in Business Network Cooperative Financial Institution (YWBN), led by executive chairperson Nthabeleng Likotsi.
Stay tuned for next week’s big round up
Obsessing over African businesses and entrepreneurs, join our obsession… subscribe below for updates to new African business inspirational blog posts.
Want us to blog about your African businesses? Tell us your story here
Follow us on social media to stay tuned to the latest African business and fashion trends from the following handles:
• Instagram: @officialvieews
• Facebook: @officialvieews
• Twitter: @officialvieews