In Africa, only 4.5% out of the 736.8 million people of working-age are without a job. This is indicated by the International Worker Labour in a report published this week. The report indicates that 36.6% of the working-age Africans are out of the labour force and 60% have a job. According to the institution, this apparently good figure hides a grimmer fact. Indeed, most of the working-age...

In South Africa, candidates for civil service will be assessed on their social media and internet use. On February 13, 2019, Ayanda Dlodlo (photo), minister of civil services, declared that a circular related to this decision has been sent to every ministry.  The minister explained that this consultative and non-prescriptive reference is an additional check aimed at guaranteeing that the...

Wim Vanhellepute (photo), CEO of MTN Uganda, was deported from Uganda on February 14, 2019. In a release signed by Ugandan minister of internal affairs Gen Jeje Odongo, the CEO is ousted from the country for an indefinite period. He is thus the fourth MTN manager to be driven out of the country by the current government.   Last January, three other managers were expelled from the country...

The market capitalization of the top ten insurance companies listed on African financial markets has decreased this year. According to data compiled by Ecofin Agency on various stock exchanges in the region, from about $30 billion on January 1, 2019, it dropped to $28.5 billion on February 14, 2019. Moroccan Saham Assurance and its parent company Sanlam are among the six firms in the...

A public tender could soon be launched in Algeria to roll out the 3G in rural and tourist zones. This was announced by the country’s minister of posts, telecommunications, technology and digital Imane Houda Feraoun (photo), on February 12, 2019, during a visit in Tissemsilt where she inaugurated the Algérie Telecom's commercial agency in Theniet El Had. According to the minister, the public...

A new MAD200 million ($20.3 million) investment fund baptised Azur Innovation Fund will be created in April 2019 in Morocco. It will target the country’s innovative firms and be managed by Azur Partners. This fund was initiated by the Dutch Good Growth Fund (DGGF), a fund of the Dutch government that will raise the required financial resources along with other international investors such as...

FlySafair could soon fall under the management of British fund manager Star Capital. The latter signed an agreement, subjected to required authorizations, for the full acquisition of ASL Holding, the Ireland-based head office of the cheap flight firm. For Star Capital, this is an opportunity to acquire operations with good growth prospects. Founded in 2014 in a highly competitive South African...

Payment technology company Visa announced on February 13, 2019, the launch of its fintech fast-track program in Africa. This investment falls within the framework of its ambition to develop the next generation of digital payment solutions in the continent.   The programme will offer innovative African fintechs a rapid and simple integration process VisaNet, Visa’s global network. It will...

Nissan announced, on February 13, 2019, the creation of a joint venture with its Algerian partner group Hasnaoui for the launch of a car assembly plant in Algeria. Located in Oran (in the West), the plant will require a $160 million investment. The site which will start production in H1, 2020 will have a yearly production capacity of 63,500 vehicles, Peyman Kargara, senior vice president...

The European Union Commission proposes Nigeria, Ghana, Botswana and Libya to be listed on the money laundering blacklist. On the other hand, the institution announced the removal of Uganda from this list. According to information reported by American channel CNBC, these countries were targeted because of “strategic gaps in their anti-money laundering and terrorism financing regime”. The...