Africa

THE RIGHT ROUTE FOR GROWTH By Antionio Guerrero   Nigeria has averaged 7% growth over the past decade. But effectively managing its continued expansion is proving problematic. Infrastructure investment is a key challenge.   The Nigeria stock exchange building in ...

NEW OIL REFINERY TO NEARLY DOUBLE NIGERIA’S OUTPUT   By Antonio Guerrero   Aliko Dangote, head of the Dangote Group and ranked as Africa’s wealthiest man, will invest up to $8 billion to build a new oil refinery complex in his ...

East Africa is a hotbed of new oil and natural gas finds. Most countries are taking a slow and measured approach to developing their resource boon, but will they avoid the resource curse that plagued many early-developers?

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt   MOBILE BANKING STIMULATES ECONOMIC GROWTH IN AFRICA Africa is one of the fastest-growing markets in the world for mobile payments. Money transfers using mobile phones will exceed $200 billion in ...

Namibia’s fortunes may be about to change dramatically, as recent surveys have shown its offshore geology could rival the biggest oil discoveries of recent years. But even without its oil prospects, Namibia has quietly established itself as an attractive investment destination. A recent Bloomberg Markets study placed Namibia among the world’s 20 most attractive emerging markets from an investment standpoint.

NEWSMAKERS: KENYA   By Dan Keeler   Kenya appears set to reap a substantial investment dividend in the wake of its largely peaceful presidential election held in early March.     Kenyatta beats his rivals Analysts believe that portfolio flows and foreign ...

CHEVRON BOOSTS ITS INVEST-MENT IN AFRICAN BLACK GOLD   By Antonio Guerrero Global oil group Chevron approved a $5.6 billion development project in Angola.   The Mafumeira Sul offshore oil field will be its second-largest African investment, after the Agbami ...

UP AND RUNNING   By Dan Keeler   Having regained its footing in the wake of the financial crisis, Angola is now looking to erect a fairer, more balanced economy.   As it continues to rebuild its economy and society ...

STAKING ITS CLAIM   By Dan Keeler   A history of stability, a growing middle class and a rapidly expanding economy are among the key assets of this West African gem.   Photo Credits: REUTERS / YAW BIBINI Ghana has ...

MILESTONES: AFRICA   By Alfred Sayila   With member states’ foreign exchange reserves reaching a record $112 billion in 12 years, countries in the Common Market for Eastern and Southern Africa (Comesa), Africa’s leading trade body, may soon have a cheap new ...

LOCATION | NEW YORK CITY   To celebrate the launch of its new monthly section on Frontier Markets, Global Finance held a networking event in January at the Harvard Club in New York. Frontier markets specialists and investors from around ...

S OUTH AFRICA MOVES CLOSER TO JUNK STATUS WITH DOWNGRADE   By Antonio Guerrero   South Africa’s weakened economy pushed it closer into junk territory, as Fitch Ratings further downgraded its sovereign rating in January.   The agency cut the country’s ...

G HANA INVESTS IN RENEWABLES   By Antonio Guerrero   UK-based Blue Energy will invest $400 million to build Africa’s largest solar photovoltaic power plant in Ghana.   The Nzema project will produce 155 megawatts, increasing the country’s generating capacity ...

NEWSMAKERS: NIGERIA   By Valentina Pasquali   A 61-year-old Nigerian oil tycoon is now the richest black woman in the world, having recently overtaken American entertainment mogul Oprah Winfrey for the title.   Her name is Folorunsho Alakija and she ...

AfDB SEEK TO REPATRIATE FOREIGN RESERVES   By Antonio Guerrero   The African Development Bank, (AfDB) a regional development bank based in Tunisia, is working to bring a portion of Africa’s $500 billion in foreign reserves held abroad back to the ...

A RACE TO THE FINISH   By Jonathan Gregson   With several of the world’s fastest-growing economies to be found in sub-Saharan Africa, investors are keen. They are now looking beyond the commodities sector, and China continues to lead the ...

NEWSMAKERS: KENYA   By Dan Keeler   Nervousness about Kenya’s March 2013 general election is prompting international investors to put their investment plans on hold, says Musalia Mudavadi, one of the leading candidates in the presidential race.   Mudavadi: Kenya’s ...

COMMODITIES BOOM SEES AFRICA OUTPACE GLOBAL GROWTH   By Antonio Guerrero   African economic growth is outpacing the global average for the first time, according to a World Bank report, with such sub-Saharan countries as Sierra Leone, Niger and Angola ...

DIFFFICULT CHOICES   By Antonio Guerrero   African oil producers stand to benefit from continued sanctions on Iranian oil exports. But their path is not without challenges.   As the US and EU tighten the screws on Iran, imposing sanctions ...

BANKING ON AFRICA   By Erik Heinrich   A continent-wide boom is shaping a new breed of pan-African lenders.   The future has never looked brighter for sub-Saharan Africa. Many of its economies are expanding at annual rates of 6% ...