Protectionist measures stacking up globally, restricting insurers

Protectionist measures stacking up globally, restricting insurers

Protectionist measures stacking up globally, restricting insurers

Signs of growing protectionism across Africa resurfaced at the African Insurance Organisation’s general assembly in Accra. Speaking at the opening ceremony, Ghana’s finance minister Ken Orfi-Atta called for Africa’s insurance industry to work together. He also suggested that instead of using global capacity, the sector should work together on a regional or sub-regional basis to support the local markets. The…

Lack of good governance holding African economies back

Lack of good governance holding African economies back

Lack of good governance holding African economies back

Weaknesses in governance have held Africa back, according to a new UN report. It states that the continent has been slow to convert its natural resources endowments to tangible development outcomes because of weaknesses in governance. Looking at Botswana, Cameroon, Ivory Coast, Egypt, Madagascar, Nigeria, Tanzania and Uganda, the fifth edition of the African Governance Report published by the UN…

Risks will reduce for Zimbabwe after July election

Risks will reduce for Zimbabwe after July election

Risks will reduce for Zimbabwe after July election

Elections slated for 18 July in Zimbabwe could kick start a massive surge in international business. Grace Muradzikwa, CEO of Zimbabwean insurer Nicoz Diamond, said the country is already enjoying a surge in interest. However, she added: “The international community wants to see an election to legitimise the change in president.” Ms Muradzikwa said one of the strongest signals of…

BCI canvassing response to supply chain resilience survey

BCI canvassing response to supply chain resilience survey

BCI canvassing response to supply chain resilience survey

The Business Continuity Institute (BCI) is now seeking responses to its Supply Chain Resilience Survey, and we encourage our readers to take part in this important piece of research. This November, the BCI will publish its tenth Supply Chain Resilience Report. It includes the results of the survey and analysis of responses. The annual supply chain report, this year supported…

Cross-border deal to reduce risks for small-scale cross-border trade flows in east Africa

Cross-border deal to reduce risks for small-scale cross-border trade flows in east Africa

Cross-border deal to reduce risks for small-scale cross-border trade flows in east Africa

The Common Market for Eastern and Southern Africa (COMESA) and the European Union have signed a €15m cross-border trade programme to facilitate small-scale cross-border trade flows. Financed under the 11th European Development Fund to increase formal small-scale cross-border trade flows in the COMESA/tripartite region, the programme will support governance reforms, institutional capacity building, improved border infrastructures and better data collection…

Africa needs FDI and global connections to light up free trade deal

Africa needs FDI and global connections to light up free trade deal

Africa needs FDI and global connections to light up free trade deal

Sub Saharan Africa needs foreign direct investment if its economies are to build, even in an era of continental free trade. Discussing the role of the private sector in the African Continental Free Trade Area (AfCFTA), Admassu Tadesse, who heads the Trade and Development Bank, said Africa should welcome foreign direct investment but create the environment for locals to benefit…

SSA seeing growth as need for private investment emphasised

SSA seeing growth as need for private investment emphasised

SSA seeing growth as need for private investment emphasised

Increasing private investment is critical for Sub Saharan Africa to achieve sustainable strong growth in the medium term, with new opportunities emerging, risk managers have been told. The International Monetary Fund (IMF), reporting modest growth of about 3.4% in 2018, said private investment in Sub Saharan Africa remains low compared with other regions. The IMF said: “Raising private investment requires…

$400m silicosis class action agreed for South African gold miners

$400m silicosis class action agreed for South African gold miners

$400m silicosis class action agreed for South African gold miners

Six South African gold mining houses have agreed a ZAR5bn ($400m) class action settlement with law firms representing thousands of miners who contracted the fatal lung diseases silicosis and tuberculosis. In the first class action settlement of its kind ever reached in South Africa, the agreement follows a six-year legal battle by miners to win compensation for illnesses they claim…

Africa is still lagging behind in digitalisation

Africa is still lagging behind in digitalisation

Africa is still lagging behind in digitalisation

Weak connectivity, trade infrastructure and knowledge ecosystems have proved to be the main shortcomings in Africa in terms of developing digital infrastructure. Euler Hermes’ Enabling Digitalization Index 2018 (EDI) reveals that the continent has attracted substantial amounts of foreign direct investment but businesses have not thrived because of inadequate infrastructure and a small population of technology-savvy citizens. South Africa leads the…