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African Business Exchange https://africanbusinessexchange.com We provide solutions to businesses that are interested in exploring various opportunities in Africa Mon, 25 Mar 2024 11:34:36 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://africanbusinessexchange.com/wp-content/uploads/2022/11/cropped-icon-32x32.png African Business Exchange https://africanbusinessexchange.com 32 32 “The Dawn of Sustainability: Fertilidea’s Italian Organic Fertilizer Arrives in Zambia” https://africanbusinessexchange.com/the-dawn-of-sustainability-fertilideas-italian-organic-fertilizer-arrives-in-zambia/ Mon, 25 Mar 2024 02:56:56 +0000 https://africanbusinessexchange.com/?p=3807

In an exciting development, the Fertilidea team, spearheaded by the CEO of African Business Exchange Italy Mr. Silas odiero, arrived in Zambia on the 28th of January 2024 hot on the heels of a fruitful encounter with H.E The President Hakainde Hichilema of the Repubic of Zambia during his official visit to Rome. The anticipation surrounding their arrival is palpable, marking the beginning of a promising chapter in cross-continental collaboration.

Upon touchdown, the team was graciously welcomed by Mr. Albert Halwampa, the esteemed Director General of ZDA (Zambia Development Authority), along with his dedicated team. This pivotal moment captured in the photograph signifies not only the commencement of a new partnership but also the convergence of expertise and ambition.


Silas Odiero

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“Diplomatic Innovation: Introducing Fertilidea to His Excellency Hakainde Hichilema during his State Visit to Italy” https://africanbusinessexchange.com/diplomatic-innovation-introducing-fertilidea-to-his-excellency-hakainde-hichilema-during-his-state-visit-to-italy/ Sun, 24 Mar 2024 09:39:07 +0000 https://africanbusinessexchange.com/?p=3758

In a landmark moment of diplomatic synergy and agricultural advancement, His Excellency Hakainde Hichilema, President of Zambia, embarked on a state visit to Italy on November 21, 2023. Among the numerous agendas fostering bilateral relations and exploring avenues for cooperation, one particular highlight stood out – the introduction of Fertilidea, an Italian organic fertilizer manufacturing company, to the Zambian market.

Captured in this photograph is a pivotal moment where President Hichilema, renowned for his visionary leadership and commitment to sustainable development, engages in discussions with representatives from Fertilidea. Against the backdrop of Rome’s timeless architecture, the scene epitomizes the convergence of diplomacy and innovation.

With Zambia’s agricultural sector poised for growth and Italy’s expertise in organic farming practices, the partnership between Fertilidea and Zambia holds immense promise. As President Hichilema and the Fertilidea team exchange ideas and explore opportunities, they pave the way for a future marked by mutual prosperity and environmental stewardship.

This photograph encapsulates not only a single moment in time but also the seeds of collaboration sown between nations, transcending boundaries and fostering a shared vision for a more sustainable future.

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Idris Elba teams up with Mo Abudu to nurture African film and TV talent https://africanbusinessexchange.com/idris-elba-teams-up-with-mo-abudu-to-nurture-african-film-and-tv-talent/ Thu, 30 Mar 2023 20:30:51 +0000 https://africanbusinessexchange.com/?p=3699 “Luther” star Idris Elba is joining forces with Nigerian media mogul Mo Abudu in a mission to champion representation and diverse storytelling in the global film and TV industry.

The Golden Globe winner, who is of Sierra Leonean and Ghanaian descent, will be working with Abudu to develop emerging talent from Africa through their respective production companies, Green Door Pictures and EbonyLife Media, the pair said in a joint statement Thursday.

The partnership will take a two-pronged approach: Arming students from the EbonyLife Creative Academy in Lagos, Nigeria with the skills and experience they need to flourish in a competitive industry, and producing a slate of authentic African films and TV shows for the global market.

The announcement comes seven years after Elba stood up in the UK Parliament and spoke about the importance of on-screen diversity for society as a whole. In 2020, he called for increased diversity in an essay for the UK’s Times newspaper, writing that “when things get tough, diversity often suffers” and “we have a duty to develop new talent.”

The actor, who is best known for his starring roles in the TV show “The Wire” and Hollywood movies including “Beast,” “Three Thousand Years of Longing,” “Mandela: Long Walk to Freedom,” and “The Suicide Squad,” wants to work with budding African filmmakers, to ensure the continent’s talent gets the attention it deserves.

“I have always been passionate about using my platform to make a positive impact,” Elba said in a statement. “By partnering with Mo, we aim to offer free, world-class industry education to the next generation of storytellers and bring their authentic voices to the forefront.”

Through her EbonyLife Media company, based in Lagos, Abudu has produced original TV shows and hit Nollywood films such as “Fifty” and “The Wedding Party.” In 2020, she signed a multi-title deal with streaming giant Netflix to create two original series and several films. The company has also partnered with TV and film companies such as Sony Pictures Television, BBC, Lionsgate and Starz.

The EbonyLife Creative Academy, launched by Abudu in 2021, provides free film and TV industry education, mentorship and production training for 480 students every year.

Credit: Mark-Anthony Johnson

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Special Event: Join Kamala Harris as she delivers a historic speech at the monumental Black Star Square in Accra, Ghana on Tuesday, March 28 https://africanbusinessexchange.com/special-event-join-kamala-harris-as-she-delivers-a-historic-speech-at-the-monumental-black-star-square-in-accra-ghana-on-tuesday-march-28/ Tue, 28 Mar 2023 09:18:39 +0000 https://africanbusinessexchange.com/?p=3696 This weekend, Vice President Kamala Harris began a three-country tour of Africa as the United States seeks to pitch itself as a better partner than China, which has invested heavily in the continent over several decades.

Harris has been in Ghana from March 26 to 29, and will be in Tanzania from March 29 to 31. Her final stop is Zambia, where she will be from March 31 to April 1. She will meet the three countries’ presidents and plans to announce public and private sector investments. 

An invitation from the U.S Embassy in Ghana

The U.S. Embassy Ghana was honored to announce the visit of Vice President of the United States of America, Kamala Harris to Ghana. We were pleased to extend a special invitation and request to have you in attendance at her keynote address.

The program was scheduled for Tuesday morning, March 28, 2023, from 8:00am to 11:00am (TBC) at Black Star Gate, adjacent to Independence Square at Osu in Accra.

The Embassy believes that this would provide you an excellent opportunity to learn firsthand about US. foreign policy and initiatives across Africa, as well as a chance to be part of a historic visit.

Credit: Mark-Anthony Johnson

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The AU must NOT ALLOW Tunisia’s Saied to harm African UNITY https://africanbusinessexchange.com/the-au-must-not-allow-tunisias-saied-to-harm-african-unity/ Mon, 27 Mar 2023 05:31:23 +0000 https://africanbusinessexchange.com/?p=3690 On February 21, while addressing a National Security Council meeting in Tunis, Tunisia’s President Kais Saied condemned irregular migration from sub Saharan Africa and described it as a conspiracy to erase Tunisia’s identity.

“The undeclared goal of the successive waves of illegal immigration is to consider Tunisia a purely African country that has no affiliation to the Arab and Islamic nations,” he said. “Hordes of illegal immigrants from sub-Saharan Africa are still arriving, with all the violence, crime and unacceptable practices that entails.”

Two days later, as he called on Tunisia’s interior minister to crack down on irregular migration, the 65-year-old leader denied accusations from human rights groups that his hateful comments were racist, and claimed those accusing him of racism “want division and discord and seek to damage our relations with our brothers”.

He, however, did not renounce his unsubstantiated claim that migrants from sub-Saharan Africa are arriving in Tunisia as part of a plot to alter its demographics.

The estimated number of Black African migrants in Tunisia today, including those without proper documentation, is just 21,000. Given the country’s 12 million-strong population, they don’t have anywhere near the numbers necessary to alter Tunisia’s demographic composition. The elaborate plot to end Tunisia’s “affiliation to the Arab and Islamic nations” is clearly just a figment of Saied’s imagination.

Nevertheless, the president’s provocative remarks unleashed a wave of discrimination and violence against sub-Saharan Africans in Tunisia.

Hundreds were arbitrarily arrested, dismissed from work, evicted from their homes and violently assaulted.

“In my neighbourhood, Black people were sought out, chased, raped, and their homes looted by Tunisians,” a university student who was voluntarily repatriated to Guinea told the AFP news agency.

In Tunis, scores of migrant families who were left homeless as a result of Saied’s crackdown set up camp outside the headquarters of the International Organization for Migration.

The African Union swiftly and firmly rebuked Saied’s divisive comments and, in response to the consequent government crackdown and racist attacks against sub-Saharan nationals, indefinitely postponed a conference it was due to hold in Tunis in March.

The AU must move to protect Africa from the populist nationalism and racism of the likes of Saied. Without unity, the 2063 Pan-African agenda is doomed to fail. It’s high time the AU demonstrates its authority and brings in line African leaders who attempt to divide us along racial lines.

Credit: Mark-Anthony Johnson

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Wishing Namibia a Happy Independence Day – A country punching above her weight https://africanbusinessexchange.com/wishing-namibia-a-happy-independence-day-a-country-punching-above-her-weight/ Thu, 23 Mar 2023 05:48:43 +0000 https://africanbusinessexchange.com/?p=3686 Celebrated every year on 21 March, Namibia’s Independence Day is marked to celebrate the nation’s freedom, independence, sovereignty, and self-determination. It was on this day that Namibia gained her freedom from the then South African colonial regime, under the auspices of the United Nations Security Council Resolutions 435, after a bitter and protracted armed liberation struggle.

The history:

The country’s name has its origins in the word ‘nama’ which means ‘vast place.’ Nama was used to refer to the Namib desert, which is said to be the oldest desert in the world. In prehistoric times, Namibia was occupied by ethnic African tribes such as Nama, San, and Damara. The first European expedition to Namibia was in 1485 when Portuguese explorer Diogo Cao reached the southern African country.

In 1884, Namibia became a German colony under Otto Von Bismarck. At that time the country was known as Deutsch-Südwestafrika which translated to South-West Africa. In 1904, the German occupiers systematically executed over 80,000 natives of Namibia. After Germany’s defeat in World War 1, the country was taken over by South Africa. After World War 2, following the U.N.’s sanctions, South Africa was asked to give up control over Namibia, which it refused.

In the 1970s, the revolts for independence began. The people of Namibia were motivated as this is also the time when neighbouring countries like Angola and Zambia had gained their independence. The guerrilla group, the People’s Liberation Army of Namibia led the struggle for the independence of Namibia from South Africa. In 1988, South Africa agreed to give Namibia its much-awaited freedom. On March 21, 1990, Namibia gained its freedom and the country was renamed the Republic of Namibia. Sam Nujoma was chosen as the first President of the Republic of Namibia.

Credit: Mark-Anthony Johnson

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AFRICA to host 73rd FIFA Congress this week – what you should know https://africanbusinessexchange.com/africa-to-host-73rd-fifa-congress-this-week-what-you-should-know/ Tue, 21 Mar 2023 05:59:58 +0000 https://africanbusinessexchange.com/?p=3680 All roads will lead to Kigali, Rwanda as the country hosts the 73rd World Football Association (FIFA) congress this week from March 13 – 17. The annual congress brings together all FIFA members, heads of confederations and all FIFA invitees and chaired by FIFA president.

On agenda, FIFA congress will approve the minutes of the previous congress(72nd) and the proposals submitted by member associations among several other items of great importance.

The most awaited item on the agenda however is the election of the new FIFA president who will serve the next four years.

Giani Infantino is the lonely candidate on this position – a candidate is eligible to three terms and if elected, Infantino will be serving his last term in office.

Also awaited is a side event to appreciate personalities who played important role in the promotion of football in Africa.

The African Confederation of Football (CAF) represented by president Dr. Patrice Motsepe will present the outstanding Achievement award 2022 to two personalities.

They consist of President Paul Kagame of Rwanda and King Mohammed VI of Morocco.

The two officials played a vital role in development of sports on the continent, especially in football by supporting regional competitions and advocating for the wellbeing of sport professionals.

FIFA congress coming to Africa is a great opportunity to the continental football leaders, shareholders and the private sector to share their view points towards the development of the game with football actors who are in advance.

So far, several efforts from FIFA in promoting football in Africa are promising and Rwanda is among the countries benefiting these initiatives. 

NOTE: The 73rd FIFA Congress will be held in Kigali, Rwanda from 13th – 17th March 2023.

Rwanda and Morocco are AfCFTA members countries

Credit: Mark-Anthony Johnson

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In case you missed it: Cobalt, a crucial battery material, is suddenly superabundant – AFRICA take NOTE https://africanbusinessexchange.com/in-case-you-missed-it-cobalt-a-crucial-battery-material-is-suddenly-superabundant-africa-take-note/ Fri, 17 Mar 2023 11:27:27 +0000 https://africanbusinessexchange.com/?p=3677 Just a year ago a global crunch in one metal looked likely to single-handedly derail the energy transition. Not only was cobalt, a crucial battery material, being dug up far too slowly to meet soaring demand, but the lion’s share of known reserves sat in DR Congo. Fast forward to today and the price of the blue metal, which had more than doubled between summer 2021 and spring 2022, to $82,000 a tonne, has collapsed to $35,000, not far from historic lows.

The story is partly one of reduced demand. Most cobalt goes into the battery packs which power smartphones, tablets and laptops. Appetite for these, already strong in the 2010s, exploded during the covid-19 pandemic. It has since waned as people spend less time staring at their screens: as demand for consumer electronics fell, so did that for cobalt. Even a boom in electric vehicles has not been sufficient to counteract this, since manufacturers have done their best to reduce use of the formerly super-expensive metal.

At the same time supply is rising, and fast. Susan Zou of Rystad Energy, a consultancy, forecasts that Congolese production will jump by 38% this year, to 180,000 tonnes. Most striking is a surge in Indonesian exports, which are projected to hit 18,000 tonnes this year, up from virtually none a few years ago. The world could find itself swimming in cobalt.

In other markets low prices would force producers to shut mines. Not for cobalt. The price has already fallen below many miners’ break-even point. Yet Glencore, the world’s biggest, said on February 15th that it may keep output nearly unchanged this year, having cranked it up in 2022; China Moly, a rival, is about to open a new facility that may yield 30,000 tonnes a year (equivalent to 16% of the world’s output in 2022). Big firms can tolerate low prices because cobalt is a by-product of the extraction of copper and nickel, both of which remain pricey.

Credit: Mark-Anthony Johnson

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Botswana intent on selling more diamonds without De Beers https://africanbusinessexchange.com/botswana-intent-on-selling-more-diamonds-without-de-beers/ Mon, 13 Mar 2023 07:13:39 +0000 https://africanbusinessexchange.com/?p=3668 Botswana will not drop its demand to sell a bigger share of the diamonds produced by its joint venture with DeBeers, President Mokgweetsi Masisi said on Thursday, raising the stakes in talks to renew a sales deal that expires in June.

Botswana and De Beers mine diamonds together under an equally-owned joint venture, Debswana.

Three-quarters of Debswana’s production, which was 24 million carats in 2022, is sold to De Beers. The balance is sold to state-owned Okavango Diamond Company(ODC), which was set up under the current 2011 sales deal as Botswana sought to market gems outside the De Beers system.

Botswana supplies 70% of De Beers’ rough diamonds.

Last month, Masisi threatened to walk away from talks to renew the sales deal unless Botswana gets a larger share of output from the joint venture. He did not specify the size of the share it sought.

Masisi told reporters on Thursday that Botswana had denied itself the opportunity to sell its own diamonds through the 54 year-old joint venture agreement.

He added that the experience of selling diamonds outside the De Beers system, which sells unpolished, or rough, stones, had shown that Botswana could get more revenue.

“Besides the fact that the diamonds are ours, it doesn’t make sense for us to continue to relegate ourselves to participating in the rough space only. So, it’s only logical that we want more and we are going to get more. But through negotiation,” Masisi said.

De Beers was not immediately available to comment.

Last month, a De Beers spokesperson told Reuters the company was confident that the Debswana partnership would continue, adding “the arrangement must make economic and strategic sense for both parties”.

De Beers says Botswana’s government receives more than 80% of returns from Debswana, including taxes and royalties.

The Anglo American Plc AAL.L unit, which also has mines in Canada, Namibia and South Africa, sold rough diamonds worth $4.3 billion in 2022, a 13% increase over the 2021 sales. ODC’s sales were $1.2 billion in 2022, up from $963 million in 2021.

Credit: Mark-Anthony Johnson

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Ranked: The Richest People in Africa in 2023 – What you should know https://africanbusinessexchange.com/ranked-the-richest-people-in-africa-in-2023-what-you-should-know/ Sun, 12 Mar 2023 05:15:02 +0000 https://africanbusinessexchange.com/?p=3665 The African continent is home to 46 billionaires, the second-lowest total of any global region. The number of wealthy individuals in Africa is growing, however. Total private wealth is expected to rise 30% over the next decade, led by growth in the billionaire and millionaire segments.

Visualized here are Africa’s richest, using data collected by Forbes, on billionaires who reside on the continent and have their primary business there.

Breaking Down Africa’s Billionaires

The richest man in Africa is also the richest Black man in the world. Once a small sugar trader, Aliko Dangote now has a net worth of $13.5 billion. He is the 86th richest person in the world, and single-handedly makes up 25% of the total wealth of African billionaires.

His company, the Dangote Group is now an African conglomerate with interests in a range of sectors, including sugar, cement, and real estate.

The top three— Alike Dangote, Johann Rupert, and Nicky Oppenheimer—account for 40% of the total wealth of those ranked.

A Look Through the Rest of the Richest People in Africa
At number two on the list is Johann Rupert. The chairman of Swiss luxury goods company, Compagnie Financiere Richemont, started his career with a banking apprenticeship in New York, before returning to South Africa and eventually pivoting to retail.

Through the rest of those ranked, a range of diverse business activities have allowed these billionaires to garner their wealth.

Nicky Oppenheimer (3rd) and Patrice Motsepe (9th)—have made fortunes in the mining industry, a sector which contributes nearly 10% to sub-Saharan Africa’s GDP. Meanwhile, Naguib Sawiris (8th) and Strive Masiyiwa (12th) have built telecom empires.

Credit: Mark-Anthony Johnson

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