150% hike in fuel costs sparks protests across Zimbabwe

150% hike in fuel costs sparks protests across Zimbabwe

150% hike in fuel costs sparks protests across Zimbabwe

Risk managers with interests in Zimbabwe are worried after a 150% hike in the price of fuel sparked protests across Zimbabwe. A three-day internet blackout has been imposed, making it difficult to know what is happening on the ground and to monitor the risks to property and staff. Zimbabwe President Emmerson Mnangagwa has called for “calm and peace”, adding: “As…

Travellers warned to be on alert as Nairobi siege ends

Travellers warned to be on alert as Nairobi siege ends

Travellers warned to be on alert as Nairobi siege ends

Several Nairobi establishments popular with Westerners are reported to have closed for security reasons, after al-Shabab gunmen stormed into the Westelands Dusit complex, killing 14 people. Kenya’s President Uhuru Kenyatta said all the gunmen behind the Nairobi hotel complex attack have been killed and the 19-hour hostage crisis is over. Some 14 civilians died in the attack, however more than 700 civilians…

Extreme weather tops the Africa risk list

Extreme weather tops the Africa risk list

Extreme weather tops the Africa risk list

Cybersecurity, geopolitics and financial market fluctuations are among the chief concerns for business voiced by some leading risk experts as they look ahead to 2019, while in Africa the top risks remain extreme weather events, political and reputational risks. At the start of the year, senior members of the Institute of Risk Management (IRM) were asked to identify key risk…

Equatorial Guinea sets up one-stop shop to help business

Equatorial Guinea sets up one-stop shop to help business

Equatorial Guinea sets up one-stop shop to help business

Equatorial Guinea’s business environment is set for improvement after the government launched of a one-stop shop for setting up businesses in the country. The Africa Energy Chamber has welcomed the move and executive chairman NJ Ayuk said: “The implementation of Equatorial Guinea’s one-stop shop allows companies to set up a business in Equatorial Guinea in only one week, putting the…

Angolan oil sector ripe for transformation

Angolan oil sector ripe for transformation

Angolan oil sector ripe for transformation

Angola has been benefiting from oil price rises in the past year but now it appears major reforms of its oil and gas sector are set to pay dividends too. NJ Ayuk, founder and CEO of Centurion Law Group and executive chair of the Africa Energy Chamber of Commerce, and João Gaspar Marques, an energy analyst, report that Angola is an…

South African rand turmoil expected to continue throughout 2019

South African rand turmoil expected to continue throughout 2019

South African rand turmoil expected to continue throughout 2019

Few currencies matched the rand’s turbulence in 2017, with factors such as Trumpenomics, the firing of finance minister Pravin Gordhan and the appointment of Cyril Ramaphosa as ANC president, contributing to the ZAR2.04 price swing during the year. Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions, outlined how this volatility continued through 2018 with the US-China trade war, the…

Ten percent of annual budgets should be spent on boosting agriculture

Ten percent of annual budgets should be spent on boosting agriculture

Ten percent of annual budgets should be spent on boosting agriculture

Africa’s leaders should honour their commitment to allocate 10% of their budgets to agriculture if the continent is to improve food security, reduce poverty and spur economic growth The Economic Commission for Africa’s (ECA) Batanai Chikwene, a programme management officer with the ECA’s African Trade Policy Centre, said that as the continent stands on the cusp of great things with…

Employment risk high across Africa

Employment risk high across Africa

Employment risk high across Africa

Employers are running a real risk of employing the wrong person, as new research shows close to 90% of applicants who apply to a job position are objectively not a match to the role advertised. The research claimed this is caused less by a shortage of jobs, and more by a fundamental misunderstanding of job requirements, both from employers and…

Jyrki Koskelo to lead Sofala Advisory Board

Jyrki Koskelo to lead Sofala Advisory Board

Jyrki Koskelo to lead Sofala Advisory Board

Renowned African investor Jyrki Koskelo is to lead Sofala’s advisory board. Mr Koskelo has more than three decades of experience investing in Africa. He worked at the International Finance Corporation (IFC), part of the World Bank Group, for 20 years. As vice-president of global industries, he was responsible for the IFC’s global investment programme, overseeing annual debt and equity investments…

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