Friday, September 04: Top 10 Business & Finance News Must Reads
1. African Development Bank Head To Focus On Power, Equality And Inclusion
Akinwumi Adesina, the former Nigerian Agriculture Minister, took over this week as president of the African Development Bank. Adesina says his vision for the bank is is to provide rapid assistance to African nations hit hard by the slowdown in China’s economic growth.
Source: Wall Street Journal
2. Africa's Richest Man Plans Zimbabwe Investments
Africa's richest man, Aliko Dangote, is planning to implement mining and power generation projects in investment-starved Zimbabwe as well as to set up a large cement factory.
3. Migrant Dream Realized: Coming Home To Africa, With Money
As people fleeing their homelands braved the risk of drowning to sail north toward Europe this year, Ibrahima Sarr crossed the Mediterranean in the other direction. He came home to Senegal to fulfill his dream of starting a business.
4. South Africa Seals Mining Jobs Deal, Proposes Platinum Plan
South Africa's mining industry, unions and the government have signed a broad plan to stem a wave of job losses triggered by falling commodity prices and soaring costs.
5. #SomeoneTellProfMoyo - Tweets That Could Alter Zimbabwe, South Africa Relations?
Zimbabwe’s motormouth minister Jonathan Moyo sparked xenophobic statements on Twitter after mocking the collapse of the rand last week.
Source: CNBC Africa
6. Fly Africa To Open New Routes In East And West Africa
Southern Africa-focused low-cost airline Fly Africa will expand to fly new routes to destinations in East and West Africa.
7. Starbucks Is Making Africa's Biggest Coffee Exporter Even Richer
Ugandan coffee sold as single-origin beans by Starbucks Corp. will boost earnings for Africa’s biggest exporter of the crop. Coffee growers may as much as double their prices because of the high quality demanded by the world’s biggest coffee-shop chain.
8. Real Estate Investments In Africa Are On The Up
Four years ago, few South African institutions and developers expanded their real estate footprint on the African continent, amid perceived risk. Now, African strategies are on the agenda for most developers. It’s no surprise, especially with prospects of 20% plus returns on real estate projects.
Source: The Citizen
9. Nestle’s KitKat To Change Cocoa Supplies To Address Child Labor In Africa
Nestle South Africa says KitKat will become the first global chocolate brand to make all its products with sustainably sourced cocoa.
10. Businesswoman Sees Opportunity In Natural Hair Movement
There is a natural hair movement sweeping all the way from the US to Africa. Financial analyst Ngozi Opara is the founder of Heat Free Hair.
Source: How We Made It In Africa