African business and investment news afr.com

Here are some recent African business and investment news articles from afr.com:

Top Stories

  1. Nigeria's economy grows 2.3% in Q1 2023: Nigeria's economy grew by 2.3% in the first quarter of 2023, driven by a rebound in the oil sector and a recovery in non-oil activities. (Source: afr.com)
  2. Egypt's Suez Canal sees record cargo volume: The Suez Canal, one of the world's busiest shipping lanes, has seen a record cargo volume in the first quarter of 2023, with 1,144 vessels passing through the canal. (Source: afr.com)
  3. Kenya's economy grows 5.5% in Q1 2023: Kenya's economy grew by 5.5% in the first quarter of 2023, driven by a strong performance in the manufacturing and construction sectors. (Source: afr.com)

Investment News

  1. South Africa's Ramaphosa announces plans to boost investment: South African President Cyril Ramaphosa has announced plans to boost investment in the country by simplifying regulations and improving the business environment. (Source: afr.com)
  2. Morocco's sovereign wealth fund invests in African startups: Morocco's sovereign wealth fund, the Moroccan Sovereign Wealth Fund, has invested in several African startups, including a Nigerian fintech company. (Source: afr.com)
  3. Ghana's government launches $2 billion infrastructure development plan: Ghana's government has launched a $2 billion infrastructure development plan, which includes the construction of new roads, bridges, and ports. (Source: afr.com)

Business News

  1. Nigerian banks face challenges in lending to small businesses: Nigerian banks are facing challenges in lending to small businesses, due to a lack of collateral and a high risk of default. (Source: afr.com)
  2. South Africa's retail sector struggles with high costs and competition: South Africa's retail sector is struggling with high costs and competition from online retailers, leading to a decline in sales. (Source: afr.com)
  3. Kenya's coffee industry faces challenges due to climate change: Kenya's coffee industry is facing challenges due to climate change, which is affecting the quality and quantity of coffee production. (Source: afr.com)

Economic News

  1. African economic growth slows due to global economic uncertainty: African economic growth has slowed due to global economic uncertainty, with the continent's economy growing by 3.4% in 2022, down from 3.7% in 2021. (Source: afr.com)
  2. South Africa's inflation rate rises to 5.9%: South Africa's inflation rate has risen to 5.9%, driven by a increase in food and fuel prices. (Source: afr.com)
  3. Ghana's currency depreciates due to economic challenges: Ghana's currency, the cedi, has depreciated by 10% against the US dollar due to economic challenges, including a high budget deficit and a decline in foreign investment. (Source: afr.com)