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ClickAfrique Magazine - African Business In The News


Nigerian economy enjoys surge in 2009

Despite the credit crunch and worldwide economic gloom, Nigeria's economy grew by a healthy 6.9%

Nigerian economy grew in 2009



South African economy moves back into growth

After slipping into recession in the early part of the year, the South African Economy has swung back into growth.

South Africa's economy grows again



The riddle of the missing Ugandan bank

There are scams and there are scams. A bank that dissapears overnight has amazed all Uganda.

BAnk goes missing in Uganda



Madagascar says it has cancelled Daewoo land deal.

The new Madagascan administration has said it has definitely “abandoned” a $6 billion land lease deal that the country’s former administration signed with Korean firm, Daewoo Logistics Corp.

Madagascar cancels Daewoo deal!



Nigeria’s phone coverage surges to 65.5 million connections.

The phenomenal growth of phone line coverage in Nigerian continues unabated as the country hits a record 65.5 million phone lines.

Nigeria's phone connection passes 65 million



Saudis to buy vast tracts of land in Ethiopia, Sudan to produce food

A consortium of Saudi businessmen is to invest $266million (1 billion Saudi Riyals) buying land in Sudan and Ethiopia to produce food solely for export to Saudi Arabia.

Saudi to buy large chunks of  Ethiopian land



Tidjane Thiam becomes first black CEO of a FTSE-100 firm.

Prudential appoints Ivorian born Tidjane Thiam as its next Chief executive to replace outgoing Mark Tucker.

Tidjane Thiam is CEO of Prudential



The richest men in Africa – 2009

It is that time of the year, the American business magazine Forbes has published its annual list of the richest people on planet Earth and we at ClickAfrique have had a look through to see how Africa fared.

The richest men in Africa 2009



Mobile Phone Money Transfer in Uganda

Ugandans are now able to transfer money using their mobile phones thanks to an initiative by MTN Uganda.

Mobile money transfer kicks off in Uganda



World Economic Slump Hits Nigeria’s Stock Exchange

Nigeria’s stock market has fallen 30% since January, sending one of the strongest market economies in the world into freefall.

Nigerian Stock Exchnage hit by global economic woes




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Somali Pirates look set to send shipping rates soaring

Somali piracy in the Gulf of Aden and western fringes of the Pacific Ocean is leading to a likely escalation of shipping and marine insurance costs.

Somali pirates push up shipping costs



Angolan planes banned from European Union

The European Commission has announced a ban on all Angolan flag carriers from flying into the European Union’s airspace.

Angolan planes banned from EU



Vodacom to be majority owned by Vodafone.

Vodafone agrees to pay $2.2bn (ZAR 22.5bn ) to acquire 15% of the Vodacom joint venture it co-owns with South Africa’s Telkom. The deal raises Vodacom stake to 65%.

Telkom sells shares in Vodacom to Vodafone



UK Multi-Millionaire to Launch Aggressive Campaign to Reduce Poverty in Africa

British entrepreneur, Alexander Amosu, who made his fortune in mobile ring tones embarks on his biggest challenge by mentoring young entrepreneurs in Nigeria in a bid to help the continent fight poverty.

Nigerian Entrepreneurial Initiative



Telecom Italia eyes up South African giant MTN

Reports in the Italian press today suggest the Italian mobile phone company Telecom Italia SpA is considering a tie up with South African mobile giant MTN.

Telecom Italia eye MTN



Chery QQ 3 takes South Africa by storm

It is touted as one of the World’s cheapest cars and the Chinese built Chery QQ 3 is taking South Africa by storm.

The Chery makes it's South African debut



Vodafone buys majority shares in Ghana Telecom

Telecoms giant Vodafone has announced it has reached agreement to acquire 70% of Ghana Telecommunications Company Ltd (“Ghana Telecom”)

Vodafone buys 70% of Ghana Telecom



Zimbabwe’s annual inflation rate hits a jaw-dropping 9 million percent.

Zimbabweans have to contend with the highest annual inflation rate in the world as it rockets to 9 million percent in June.

Zimbabwean inflation hits 9 million per cent



How to Recklessly Waste $10 Billion – Nigeria Goes on Oil Money Spending Spree

The Federal Government of Nigeria and the state governments to spend $10 billion dollar from the Federal Reserve, which had more than tripled in size from $5 billion in 2004 thanks mainly to persistent high oil prices.

The oil industry has earned a lot of money for Nigeria but the money has failed to trickle down as majority of its people remain poor.



Burkina Faso to Receive $480 Million in US Grant Funding

Burkina Faso, one of the poorest countries in the world is to receive US government funding to help boost its farm productivity and construct roads and schools for girls.

Burkina Faso, also known by its short-form name Burkina, has one of the lowest GDP per capita incomes in the world: $1,200.





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