Business

The President of the African Development Bank, Akinwumi Adesina, has made a compelling case for accelerating Africa’s industrialization in order to create jobs, reduce poverty and promote inclusive economic growth. Citing data from the Bank’s 2018 African Economic Outlook launched in Abidjan, Côte d’Ivoire, on Wednesday, Adesina said infrastructure projects were among the most profitable investments any society can make as they “significantly contribute to, propel, and sustain a country’s economic growth. Infrastructure, when well managed, provides the financial resources to do everything else.” Noting that economic diversification is key to resolving many of the continent’s difficulties, he urged African governments to encourage a shift toward labour-intensive industries, especially in rural areas where 70 percent of the continent’s population resides.

Officials in Ghana have confirmed the discovery of the mineral, Lithium in large quantities which can now be processed commercially.

African Airlines are expected to loose about hundred million dollars in 2018 based on a collective net loss of hundred million dollars in 2017.

The move came after discussions between Carillion, its lenders and the government failed to reach a deal to save the company.

Facebook is to change how its news feed works, making posts from businesses, brands and media less prominent.

Oil Giant Exxon Mobil is set to begin oil exploration in Ghana soon officials in the West African country have confirmed. A petroleum agreement to paveway for the exploration is expected to be signed by the firm with the Ghanaian government and the Ghana National Petroleum Commission in Ghana in the coming days.

Kenya Airways has announced that it will from October this year begin daily direct flights to the United States to boost its annual revenue.

The Namibian government has said that importation of all perishable food, fish, fruits, unprocessed food and water from its neighbouring country Zambia would be halted for now due to the cholera outbreak.

In Ghana a restaurant that serves largely entrepreneurs and business owners has opened in the country’s capital Accra, and only organic beverages and food are served customers who usually sit to talk business.

MTN and Ericsson have announced the first 5G technology and applications trial in Africa, which is part of a 5G demonstration starting in the first quarter of 2018.