• Africa has emerged as world's fastest growing economic regions over past 2 decades • Pharma industry of Africa projected 9.8% annual growth rate between 2020 & 2030 • Africa market will be worth USD 50 billion to USD 75 billion by 2030 • Africa GDP rising to USD 5 Trillion by 2030 • New Regulatory Agency & efforts to augment economic growth, will positively contribute to growing pharma sector...
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The halal beauty market has already taken off in the Middle East and Asia, but now it’s set to become established in the West. Therefore, there is an opportunity for natural and organic brands to easily adjust their ingredients and production methods to meet halal certification. The worldwide halal cosmetics market is estimated to grow at a CAGR of 6.0% between 2023 and 2030. The market is projected to witness significant growth over...
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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 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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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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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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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 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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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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Africa Business Pages B2B networking group. Join HERE 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 share information. People all around the...
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