Zambia’s Scott becomes Africa’s first white leader in 20 years

Zambia’s Vice President Guy Scott (L) listens as U.S. President Barack Obama (not pictured) speaks, at the first Leaders’ Session of the U.S.-Africa Leaders Summit, at the State Department in Washington, in this August 6, 2014 file picture.

 

CREDIT: REUTERS/LARRY DOWNING/FILES

(Reuters) – Zambia’s Guy Scott became Africa’s first white head of state in 20 years on Wednesday after the president, “King Cobra” Michael Sata, died in a London hospital aged 77.

Scott, a Cambridge-educated economist born in Zambia to Scottish parents, had been Sata’s vice president. He will be interim leader until an election in three ….. Continue Reading

The U.S.-Africa Leaders Summit: A Focus on Foreign Direct Investment

Editor’s Note: The U.S.-Africa Leaders Summit blog series is a collection of posts discussing efforts to strengthen ties between the United States and Africa ahead of the first continent-wide summit. On August 4, Brookings will host “The Game Has Changed: The New Landscape for Innovation and Business in Africa,” at which these themes and more will be explored by prominent experts. Details on how to register for the event will be available soon.

On the second day of President Obama’s three-day U.S.-Africa Leaders’ Summit, the U.S. Department of Commerce and Bloomberg Philanthropies will convene the inaugural ….. Continue Reading

Rockefeller And Tony Elumelu Foundation Launch African Impact Fund

The Rockefeller Foundation and the Tony Elumelu Foundation, founded by Nigerian philanthropist Tony Elumelu, have launched an impact investment fund for Africa.

The fund, called the Impact Economy Innovation Fund (IEIF) was officially launched on Fridayat an Impact Investment Forum in Cape Town, South Africa. The forum, which was attended by many leading African entrepreneurs, was jointly hosted by The Rockefeller Foundation, The Tony Elumelu Foundation and the Bertha Centre for Social Innovation & Entrepreneurship at the University of Cape Town (UCT) Graduate School of Business with the aim of introducing Africa’s business leaders to ….. Continue Reading

10 Memorable Quotes From The 2014 World Economic Forum On Africa

The 24th edition of the World Economic Forum on Africa is currently taking place in Abuja, Nigeria. The event, which has brought together close to 1,000 regional and global leaders, is centered on the theme of forging inclusive growth and creating jobs for Africa’s growing population. The began on Wednesday and is slated to close tomorrow. Here are some of the more memorable quotes from Thursday’s plenary and brainstorming sessions: Africa is an article of faith. I believe in this continent. – Sunil Bharti Mittal, Chairman, Bharti Airtel Nowhere in the world do you get the kind of returns ….. Continue Reading

Why Obama’s Trip to Africa Is Long Overdue

The continent’s economy, struggle with terrorism, and burgeoning democracies are all vitally important to the U.S. Youths walk past a poster of U.S. President Barack Obama and Senegal’s President Macky Sall before Obama’s visit in Dakar on June 26, 2013. (Joe Penney/Reuters) It has been much noted that President Barack Obama, the son of a Kenyan, has made just one visit to Africa as president – a one-day stop to Ghana in 2009. Some Africans have expressed disappointment in what they see as the president’s lack of attention, complaining that on his watch, there has been no new American initiative ….. Continue Reading

Barack Obama’s visit to boost US relations with African countries

No sitting US President has visited Kenya. President Barack Obama follows in his predecessor’s footsteps as he skips his ancestral land.

He last visited Kenya as a Senator in 2006. A visit by such a high profile global figure invigorates nearly all sectors of a country due to its significance.

It would have been a great chance for the business community to jump at the opportunity provided by the hordes of executives accompanying Obama. Obama arrives in Africa with a delegation of 1,200 people, including hundreds of business executives and a coterie of economic ….. Continue Reading

A Look Back at 50 Years of the African Union

Robert Nolan is an editor at the Foreign Policy Association and the author of “The Quest for African Unity: 50 Years of Independence and Interdependence”. You can follow him on Twitter @robert_nolan.

This week, African heads of state and leaders from around the world celebrated 50 years of the African Union and its predecessor, the Organization of African Unity, at its headquarters in Addis Ababa, Ethiopia. Laudatory speeches and toasts were given despite a widespread belief – both within and outside of Africa – that the organization is little more than a talk shop for Africa’s ….. Continue Reading

Africa’s economic boom: Five countries to watch

South Africa, Nigeria, Angola, Ghana, and Ethiopia all have economies that are growing at a brisk pace. But their future depends on how they invest that money, writes Matthew Hawki

As competition for raw resources heats up globally, economic and political elites in the West are turning to Africa for quick and generous capital gains and for the promotion of British and American geostrategic interests.

This is not the first time that these elites have been optimistic about Africa – about a decade and a half ago “Africa experts” boosted new ….. Continue Reading

Fastest growing cities in Africa

Sub Saharan Africa is urbanizing faster than any other region. These are the 30 SSA cities that are driving the continent’s growth.

Like the rest of the developing world, Africa’s urban population is growing at a furious pace. Within the next two decades, the continent’s urban population will double as new economic centres emerge and attract rising tide of Africans moving to these areas for jobs and a better life.

“At 3.9%per year, urban population growth rates in Africa have been and will continue to be the highest in the ….. Continue Reading

ECOWAS Ministers Agree Implementation Action Plan on Proposed Lagos-Ibadan Highway

ECOWAS Ministers of Works/Road Infrastructure, Transport, Finance and Justice from Benin, Cote d’Ivoire, Ghana, Nigeria and Togo, ended their one-day meeting of Monday, 22nd April 2013 in Abuja with an agreement on an implementation plan for the construction of a proposed highway linking Abidjan to Lagos.

A supra-national agency to be set up will manage the project implementation phase to ensure uniformity in approach and standards for the road whose development will be regionally coordinated.

The ministers, whose meeting was in response to a recent directive by the Heads of State of the five ….. Continue Reading

East African hotel trends: More business people, conferences and Chinese tourists

Africa’s economic growth presents many opportunities for hotel operators. However, the hospitality sector remains tough and success is by no means guaranteed. One person with significant experience in the industry is Rosemary Mugambi, sales and marketing director of Serena Hotels. The group operates 24 safari lodges, tented camps and city hotels situated in Kenya, Tanzania, Rwanda, Uganda and Mozambique. How we made it in Africa spoke to Rosemary Mugambi about the trends she is currently seeing in the industry.

Over the past few years, much has been said about Africa’s stellar economic growth. Is Africa’s rise reflecting ….. Continue Reading