Under Invoicing: Concern for African Countries

Ethiopia has adopted a new system to tackle trade under-invoicing that costs the country an estimated $2 billion every year. Ethiopia Customs and Revenue Authority has linked its new Customs database to global price makers which updates itself automatically. The new system will help detect cases where importers under-invoice the value of their goods in order to reduce their import duties. “We are also identifying the major importers in...

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Ethiopia's Automotive Industry

Ethiopia is among Africa’s most impressive growth performers over the past decade averaging 10.9% annual growth between 2010 and 2020. With a GDP of US$91 billion in 2019 it is among the top ten largest economies in Africa and the third largest in Eastern Africa. After Nigeria, the country is also home to the continent’s second largest population of 95 million people. Undoubtedly, Ethiopia is a relatively...

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Morocco Automotive Industry Growing Fast

Before the end of next year, Morocco officials hope to announce the name of a third global automaker to build an assembly plant there. The unnamed manufacturer would launch production in the North African kingdom in 2021 or 2022, according to Khalid Qalam, senior adviser with Invest in Morocco. That third player would join Renault, which has two factories in Morocco, and PSA Group, which will begin building cars near the coastal city of...

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Exporting automobiles to Africa: Incentives & Challenges

Formed in 2015, the Africa Association of Automotive Manufacturers (AAAM) works specifically to promote and facilitate the growth of the African automotive industry. Formed by executives from the world’s biggest car manufacturers, the African Association of Automotive Manufacturers (AAAM) embarked on a concerted push to revive and resurrect Africa’s auto industry. Since then, the newly-created African Association of Automotive...

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Acquisitions: The new trend in Kenya's cosmetic industry

The beauty and cosmetics industry has become Kenya’s new hub of investment that is pulling in big money to establish new lines of business and to snap up successful enterprises through multi-million shilling acquisition deals.  That statement was firmly made when Flame Tree Group acquired a local start-up Suzie Beauty in a deal estimated to be worth millions of shillings. The Flame Tree Group said it made the acquisition as part...

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The beauty and cosmetics industry in Kenya

The beauty and cosmetics industry has become Kenya’s new hub of investment that is pulling in big money to establish new lines of business and to snap up successful enterprises through multi-million-shilling acquisition deals. This is due to the economic restructuring and regional integration measures adopted by many governments in the region which has, in turn, created a rising middle class that craves for new consumer and luxury...

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The African beauty industry: Cosmetics in big demand in the African market

Major players in the global beauty and cosmetics industry are making the most of the boom projected for the industry in sub-Saharan Africa, a continent seen as the “next frontier” in the sector. Thanks to a burgeoning population expected to double to 2,4 billion in 2050, rising middle class and amplified urbanization have positioned the region to that status, with the beauty market is expected to double over the next...

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WhatsApp Business takes B2B networking in Africa to a new level

Africa Business Pages B2B networking group. Join now at https://chat.whatsapp.com/Hh6sOcfcAw2BdW5PCtyyfS   From 2016 onwards, WhatsApp has emerged as one of the fastest growing networking apps as well as a media platform in Africa. For most Africans, WhatsApp is their main social media platform, overtaking even Facebook. According to recent reports, more people in Africa use WhatsApp, not Facebook, to communicate with each other and...

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11 Business Opportunities in Africa That Will Make More Millionaires

The latest Africa Wealth Report by New World Wealth reveals there are now just over 160,000 millionaires in Africa. Interestingly, from 2000 to 2013, the number of millionaires on the continent grew by more than 145 percent, compared to the worldwide growth rate of 73 percent. In recent years, most of the ‘new millionaires’ have been young entrepreneurs and investors who have created promising businesses and invested in...

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So Many People, So Little Land

Ethiopian and Kenyan governments have evicted local farmers to sell their land to agribusinesses from China and India As drought and famine threaten millions of lives in the horn of Africa, global food security — or rather insecurity — is at the forefront of development discourse. What’s more, Harvard University demographers forecast that before the end of the 2018, the world’s population will reach 7 billion. In...

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