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China’s Development of Ethiopia : Investment in a Country, or in an Industry ?

Comments (0) Business, Featured

ethiopia

Ethiopia, a country of about 90 million people, covers just 1,127,127km2—less than 10% of the territory of China. Despite its comparably tiny size, Ethiopia is proving to be a massively important resource for China’s demand for essential minerals necessary in its insatiable demand for technological goods.

Some experts, British-born Ethiopia specialist Richard Pankhurst, believe that trade between the two countries could date back more than 1400 years. Though China’s demand on Ethiopia has evolved from exotic animals and jewelry to minerals and leather, their trade partnership has an unbroken past.

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Bosch registers sales growth in the Middle East

Comments (0) Business, Featured

Bosch

The Middle East is proving to be a lucrative market for Bosch, a German multinational company with expertise in engineering and electronics. The company closed the 2014 fiscal year with AED 945 million (approximately USD 257 million) in consolidated sales across 15 countries in the region, representing an increase of seven per cent over the previous year.

Since the opening of its regional office in Dubai a little over ten years ago, Bosch has experienced continued expansion and sales growth in the Middle East. The UAE now accounts for the highest sales in region, with the largest percentage of growth coming from power tools business.

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From the Bottom(ish) Up: Aliko Dangote, Africa’s Richest Man

Comments (0) Featured, Leaders

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Aliko Dangote is Africa’s richest man. Valued at $17.4billion, this Nigerian magnate is the 67th richest billionaire in the world, one of an elite circle of fabulously wealthy individuals who have made their fortunes in the poorest region of the world. Thirty years ago, Dangote received a loan from his uncle, which he used to break into commodity trading. In the intervening decades, 54-year-old Dangote has managed to build a multinational trading empire.

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Bernard Dunn – the new President of Boeing Middle East

Comments (0) Featured, Leaders

Bernard Dunn

On May 20, 2015 The Boeing Company named Bernard Dunn the new president of Middle East Division. He succeeded Jeff Johnson who moved to the US in March 2015 to become a vice president of business development at Boeing Military Aircraft.

Dunn is now in charge for fulfilment of Boeing’s strategy towards Middle East and the company’s business development in Middle East region. He is responsible for GR, partnership development, expanding Boeing presence and improving company relationships with customers and shareholders. He will cooperate with the President of Boeing Saudi Arabia Ahmed Jazzaar.

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26 Countries, $1 trillion USD and 600 million people: The World’s Newest (and Biggest) Free Trade Bloc

Comments (0) Business

CT_CBD_and_WaterFront_s

 In June, the world’s largest free trade block was signed into existence in perhaps the world’s least likely place: Africa.

Three existing African economic blocks, the Common Market for Eastern and Southern Africa (COMESA), the Southern African Development Community (SADC) and the East African Community (EAC), have formed a 26-state free trade block stretching from Cairo to Cape Town. The goal of this enormous free trade zone is to increase the amount of intra-African trade. Currently, the poor quality of roads, railways and unreliable nature of airlines have inhibited trade across the continent.

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Dambisa Moyo – Macroeconomist, Author and International Affairs Expert

Comments (0) Leaders

Dambisa Moyo

As an internationally renowned economist and author, Dambisa Moyo has analyzed the many aspect of macroeconomics and global current affairs, with focus on developing economies, market trends and finance, earning herself a position as one of the most respected people of our generation. 

Ms. Moyo was born on September 15, 1969 in Lusaka, Zambia, but spent a fair portion of her childhood in the United States while her father completed a postgraduate degree, after which they returned to Zambia. Her father ended up with a career in an academic setting as well as public administration and her mother, with a career as chairwoman at a bank. The success of Dambisa’s parents had set her up with opportunity for her future education and career. She began a chemistry degree at the University of Zambia, however, chose to complete it back in the United States. This was done at American University in Washington, D.C., followed by a Master’s degree in business administration. She went on to obtain a second Master’s degree in public administration from Harvard, as well as a Ph.D. in economics from Oxford, with her thesis on savings- “Why Is It That Some Countries Save and Others Not?” Her interest and expertise lie in a number of fields which include, but certainly are not limited to, business strategy, economic modeling, foreign direct investment, unemployment, commodity supply, currency wars, public markets, U.S. fiscal policies, oil and trade.

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Low Oil Prices Raise Concerns over Middle Eastern Sovereign Investments

Comments (0) Business

Middle Eastern Sovereign Investments

After years of increasing allocations to sovereign wealth funds (SWF), the persisting decline in oil prices has led regional fund managers to prepare for major changes.

As Middle Eastern governments became more dependent on the influx of foreign currency from oil sales, SWFs were set up as an insurance policy against potential decreased revenue streams.

Derived from surpluses in reserves, SWFs provide a means of reallocating income into other investments in order to diversify the country’s revenue. Should funding decline, these investments could be sold on short notice to support economic growth.

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Building the Foundation of Trust from Below: Amine Mazouzi’s New Position as CEO of Sonatrach

Comments (0) Leaders

SONATRACH

Amine Mazouzi is one of those lucky individuals for whom changes in large Algerian companies are most beneficial. Mazouzi has recently been named CEO of Sonatrach, Algeria’s state-owned oil and gas company, which operates more than 10,000 gas stations across Algeria and produces 90% of the country’s hydrocarbons. Mazouzi’s new position does not, however, come without complications.

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Mohammed Dewji : Visionary and Leader

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Mohammed Dewji

As Billionaire Businessman and Political Philanthropist, Mohammed Dewji, Shows Us Hard Work Does Pay, and He Pays it Forward.

Mohammed Dewji is considered to be one of the most successful and accomplished people in Africa today. He is the Chief Executive Officer of Mohammed Enterprises Tanzania Limited Group (METL), a company started by his father, which has an extremely diversified presence in Tanzanian industries. Mr. Dewji owns 75% of the group and has a current net worth of $1.25 billion, according to Forbes. His passion for politics has landed him a seat in local government, which he uses to implement his vision and ideas for a better Tanzania. This position, along with his financial success has allowed him to build a foundation for philanthropic action in the areas of education, health and clean water.
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Nigeria’s New President Inherits a Country Without its Black Gold

Comments (0) Politics

accrareport_nigeria-oil

Paralyzed by gasoline shortages, Nigerian authorities appear close to reaching a solution. The crisis began in early March, weeks before the 29 March election that elected Muhammadu Buhari as Goodluck Jonathan’s replacement. Nigeria has long paid oil importers subsidies to control price and guarantee a steady supply. That, however, no longer seems to be working.

Oil suppliers’ credit lines were tightened amid the falling global price of oil, a slump in Nigeria’s currency, the naira, and the unpaid debt by the former President’s government. Suppliers claim that more than 900 million euros are owed in back-payments of government subsidies.

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