Friday, August 28: Top 10 Business & Finance News Must Reads
1. Africa's Richest Man Teams With Royalty For Business Scheme
Aliko Dangote, Prince Andrew and former Nigerian President Olusegun Obasanjo have agreed to form a partnership to support entrepreneurship in Africa.
Source: The Voice
2. Meet South Africa's Youngest Self-Made Millionaire
Sandile Shezi, a 23-year-old South African, is the country's youngest self-made millionaire. Find out about his upbringing, his muffin business and his decision to leave university to pursue his dreams.
3. Islamist Militant Attacks Leave Kenyan Tourism Industry Reeling
Kenya’s government says U.S. President Barack Obama’s visit last month shows travelers are safe and the World Tourism Organization agrees. Still, foreign visitors are staying away putting the economy under pressure.
4. Proposed African Free Trade Area Will Offer Limitless Opportunities
The free trade area envisaged in terms of a Continental Free Trade Agreement will offer a market of “nearly limitless opportunities” to countries such as Japan‚ says South Africa's Deputy President Cyril Ramaphosa.
Source: Times Live
5. Nigeria's Growth Slows
Nigeria's second quarter GDP growth has slowed to 2.35 percent. The slowdown is due to persistent power outages, fuel shortages, weakness in the oil price and the tightness of dollar liquidity.
Source: CNBC Africa
6. Africa’s Squandered Commodity Boom Erodes US Trade Promise
A fresh US trade pact could provide relief to African economies buffeted by the commodities slump, but a failure to reform during the boom years has left many countries unable to profit from tariff-free access to the world’s largest market.
7. Five Ways China's Economic Crisis Will Affect Africa
Signs of an economic slowdown in China have led to fears of a global recession, including Africa, given the close ties it has built up with China in recent years.
8. Kenyan Entrepreneurship Developing At Lightning Speed
Kenya is seeing similar lighting speed development in terms of entrepreneurship as witnessed in China a decade ago, according to the Global Entrepreneurship Network and the GEDI Institute.
Source: Disrupt Africa
9. Business In Africa Is Getting Riskier
Business in Africa is getting riskier, according to the PricewaterhouseCoopers inaugural survey looking at risk on the continent.
10. Zambian Entrepreneur Converts Used Vegetable Oil To Fuel
Vegetable oil is used around the world and is often discarded after it is used for cooking. But in Zambia a young entreprenuer has found a way to repurpose this used oil.