DIRS.INFO The most relevant business & tech news

☆ Aliko Dangote’s mission to build Africa’s largest oil refinery
▼ + stars: | 2024-06-05 | by ( Jackelyn Prager | Jackie Prager | ) edition.cnn.com time to read: +6 min

CNN —Over the past eight years, Aliko Dangote, Africa’s richest man, has built one of the world’s largest oil refineries. Nigeria is one of Africa’s largest oil producers, yet the country has lacked the capability to refine its oil forcing it to rely on imported fuel. Aliko Dangote walks CNN's Eleni Giokos through his oil refinery in Lekki, Nigeria. Did it make economic sense at the time to build a cement plant and compete effectively with imported cement prices? Video Ad Feedback A rare look inside Africa’s largest oil refinery 23:00 - Source: CNNCNN: So how are imports affecting industrialization and local growth of value chains?

Persons: Aliko, I’ve, ”, CNN’s Eleni Giokos, they’ve, Dangote, CNN's Eleni Giokos, we’re, you’ve Organizations: CNN, Dangote Industries Ltd, National Petroleum Corporation, CNN CNN, Obajana, Dangote Cement, Continental Free Trade Area Locations: Lagos, Nigeria, Lekki, India, Dangote, Saharan Africa, Kogi State, Egypt, American, Africa

☆ Africa’s richest man says he needs 35 visas to travel in Africa – way more than a European visitor
▼ + stars: | 2024-05-22 | by ( Larry Madowo | ) edition.cnn.com time to read: +5 min

The 67-year-old entrepreneur’s visa woes have reignited a fresh firestorm about the frustrations of traveling within Africa for Africans. But many African countries still require visas from other Africans and the experience is fraught with discrimination, hostility and sky-high fees. He has also been detained at airports in Kenya and South Africa because of his Nigerian passport. “There’s a fear in richer African countries that people from poorer nations might be looking for a way to permanently move there,” he explains. His new St Kitts passport allows him to go to more African countries than his Nigerian passport.

Persons: Aliko Dangote, ” Dangote, ”, Patrick, Pouyanné, Tayo Aina, Aina, YouTuber, hasn’t, Marco Longari, Alan Hirsch, “, Sotunde, William Ruto, Tayo Organizations: Rwanda CNN, Forum, CNN, African, African Continental Free Trade, Getty, University of Cape, New, Institute, Travelers, East African Community, Kenyan, REUTERS, Reuters Kenyan, St Kitts Locations: Kigali, Rwanda, Nigerian, Africa, “, Benin, The Gambia, Seychelles, Addis Ababa, London, Kenya, South Africa, Caribbean, St Kitts, Nevis, AFP, University of Cape Town, Johannesburg, Southern, West Africa, Abuja, Nigeria, East

☆ IMF chief says Africa must do these three things to increase trade
▼ + stars: | 2023-08-25 | by ( Nell Lewis | ) edition.cnn.com time to read: +5 min

The timing is ripe as African countries grapple with sluggish growth, food insecurity and debt distress. CNN: According to IMF reports, the levels of inflation and public debt we’re seeing in Africa have not been seen in many decades. Kristalina Georgieva, managing director of the IMF, speaks in Washington, DC, in April at a meeting of the World Bank and IMF. Georgieva: I expect to see a very strong focus on the African continent. We did a paper on how the continental free trade agreement can benefit Africa if these trade and non-trade barriers are eliminated and the results are phenomenal: trade within Africa can increase by 53%, trade between Africa and the rest of the world by 15%, and real income per capita could grow by 10%.

Persons: Kristalina Georgieva, Georgieva, CNN’s Eleni Giokos, Kevin Dietsch, we’re, they’re Organizations: CNN, International Monetary Fund, World Bank, Bank, IMF Locations: Africa, Marrakech, Morocco, Washington , DC

☆ Factbox: BRICS summit 2023: What's likely to be discussed?
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +4 min

Putin will participate in the summit virtually and will be represented in Johannesburg by Foreign Minister Sergei Lavrov. BRICS EXPANSIONThe leaders are divided over the expansion of the bloc by adding new members, including the admission criteria. BRICS BANKThe group is also expected to discuss how to boost local currency fundraising and lending within the New Development Bank (NDB), or so-called BRICS bank. While the NDB, which was established in 2015, is still looking at the potential use of alternative currencies, there will be no talk about a common BRICS currency during the summit, South Africa's senior BRICS diplomat said. 'FRIENDS OF BRICS'The last day of the summit is expected to focus on talks with leaders from other countries.

Persons: Aly, Cyril Ramaphosa, Xi Jinping, Luiz Inacio Lula da Silva, Narendra Modi, Vladimir Putin, Putin, Sergei Lavrov, Enoch Godongwana, BRICS, Naledi Pandor, Emmanuel Macron, Macron, Pandor, Anait Miridzhanian, Olivia Kumwenda, Tim Cocks, Nick Macfie Organizations: New Development Bank, REUTERS, Rights, Indian, International, Africa's Finance, Federal Reserve, United Arab, South African Foreign, Ukraine, Continental Free Trade Area, Thomson Locations: Shanghai, China, Rights JOHANNESBURG, Brazil, Russia, India, South Africa, Johannesburg, Ukraine, Saudi Arabia, Iran, United Arab Emirates, Argentina, Indonesia, Egypt, Ethiopia, BRICS, United States, South, Bangladesh, Uruguay, Algeria, Honduras, Zimbabwe, Africa, Latin America, Asia, Caribbean, France, Russian

☆ Aspen Pharmacare CEO Stephen Saad on the future of medicine in Africa
▼ + stars: | 2023-05-18 | by ( Tom Page | ) edition.cnn.com time to read: +5 min

CEO Stephen Saad discussed the future of the pharmaceutical sector in Africa, and what lessons Aspen Pharmacare has learned from the Covid-19 pandemic, with CNN’s Eleni Giokos. During the pandemic, we’ve seen a spotlight on the inequalities that exist on the continent in the pharmaceutical sector. Aspen has had a very strong commercial presence across Africa and now you’re moving up the value chain. When Covid came and Africa needed vaccines, over 90% of the vaccines were supplied by India — and that wasn’t great. If it hadn’t been for Aspen, there would have been no vaccines made in Africa for the continent.

☆ The $2 billion Rwandan airport that could help African aviation take off
▼ + stars: | 2023-05-05 | by ( Jack Bantock | ) edition.cnn.com time to read: +6 min

For RwandAir CEO Yvonne Manzi Makolo, the problem of connectivity presents the “biggest challenge” to the African aviation industry. Pascal Pavani / AFP via Getty ImagesSolutionsBut solutions are touching down, starting with the Single African Air Transport Market (SAATM). First proposed in 2018, if implemented the policy would create a single market for African aviation, facilitating the free movement of people, goods, and services. What is missing is the willingness of states to really implement it.”There is hope for a bright new future in African aviation. Because of scale, they can then open up the African continent a lot more.

☆ World Trade Organization head wants to 'double or triple' Africa's share of global trade
▼ + stars: | 2023-02-02 | by ( Nell Lewis | ) edition.cnn.com time to read: +5 min

The World Trade Organization (WTO) projected in October that after growing by 3.5% in 2022, trade volumes will increase by just 1% in 2023. Either way, Africa may start to reap the benefits of a free trade deal that came into effect in 2021. The landmark African Continental Free Trade Area (AfCFTA) agreement created the world’s largest new free trade area since the establishment of the WTO. What do they need and what are they telling you in terms of doing cross-border trade on the African continent? What we’ve seen during the pandemic is that Africa needs to get its own manufacturing capacity, and this falls right back into what can make the continental free trade area work.

☆ Biden touts U.S. relations with African nations, announces efforts to bolster trade
▼ + stars: | 2022-12-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +2 min

WASHINGTON — President Joe Biden touted relations between the U.S. and African nations Wednesday, addressing a gathering of nearly 50 leaders from the continent and announcing new initiatives to bolster trade. Speaking at the three-day U.S.-Africa Leaders Summit in Washington, Biden emphasized that Africa is critical to the success of the U.S. and global communities. "Each of these crises has only heightened the vital role African nations and people play to address the global challenges that drive our global progress," Biden said. "We can’t solve any of these challenges without African Leadership at the table." The U.S., for example, worked with African nations to distribute millions of doses of vaccines to combat Covid, Biden continued, and invested in the continent's capacity to manufacture its own vaccines, testing and treatment options.

[1/7] U.S. President Joe Biden delivers keynote remarks at a U.S.-Africa Business forum at the 2022 U.S.-Africa Leaders Summit in Washington, U.S., December 14, 2022. "The United States is 'all in' on Africa's future," Biden told African leaders attending a three-day summit in Washington. Beijing has held its own high-level meetings with African leaders every three years for more than two decades. For their part, many African leaders reject the idea that they need to choose between the United States and China. "The fact that both countries have different levels of relations with African countries makes them equally important for Africa's development," Ethiopia's U.N. ambassador, Taye Atske Selassie Amde, told Reuters.

☆ Opinion: It's time for African countries to consider a climate tax on exports
▼ + stars: | 2022-11-24 | by ( Adjoa Adjei-Twum | ) edition.cnn.com time to read: +7 min

I welcome progress here, as African nations are bearing the brunt of climate change. It is now time for African nations to levy a climate export tax on commodities, such as cocoa and rubber, to help pay for climate adaptation. Adaptation is all about building resilience and capacity, and I believe our governments, banks, and businesses must also adapt. Additionally, G20 countries are asking their banks to forecast how risky their loans are due to climate change. It is a wake-up call for African governments, banks, institutions, and companies to unite, step up, and adapt to a new climate reality.

☆ Namibia can become green energy exporter, says first lady
▼ + stars: | 2022-09-30 | by ( Mark Tutton | ) edition.cnn.com time to read: +4 min

Green hydrogen (hydrogen produced using renewable energy) is being touted as a clean alternative to fossil fuels that could power heavy industry and transport. EU officials said this summer that they hoped to strike a deal to help Namibia develop its green hydrogen sector. The southern African nation is set to open the continent’s first green hydrogen production plant in 2024, operated by French power company HDF Energy. Namibia’s first hydrogen power plant is expected to be up and running in 2024, and there’s also a potential plan in place to partner with the EU on green hydrogen. Geingos: It is clear that Namibia’s green hydrogen plans extend beyond domestic energy self-sufficiency.

☆ Nigerian billionaire Abdul Samad Rabiu says Africa must cut reliance on food imports
▼ + stars: | 2022-07-27 | by ( Giovanni Prati | ) edition.cnn.com time to read: +3 min

Nigerian billionaire Abdul Samad Rabiu says it’s time for African countries to work together to create a food value chain across the continent, and produce more goods for domestic consumption. Rabiu is the CEO of BUA Group, a conglomerate in food processing, infrastructure, manufacturing and mining. His company has made investments across the continent to cut its reliance on imports from Europe and Asia. High inflation, food insecurity, energy prices: What are you going to do to solve some of these issues? It’s a 20,000-hectare, four-in-one, fully integrated sugar plantation with sugar mill, sugar refinery, ethanol and power plant.

Search resuls for: "Continental Free Trade Area"

12 mentions found