Rich nations take much more from Africa than they give in aid, according to research released by a coalition of African and UK partners. While Africa is receiving less than $30 billion (approx Rs 915 billion) in aid each year on average; the continent is losing $192 billion (approx Rs 5,856 billion) annually in other resource flows, mainly to the same countries that provide that aid. This clearly demonstrates that
After Johannesburg and Cape Town, AfrAsia Bank has opened its third representative office in London, enabling the Bank to have a physical presence in what remains the world’s leading financial centre. This step confirms AfrAsia Bank’s established strategy and aspiration to be the leading bank in the region, in line with promoting Mauritius as a regional and financial business centre of excellence. After six years of growth, the Bank is
A report recently released by independent think tank, Think Security Africa (TSA), sheds light on how, besides strengthening African economies, increased capacity in the Africa’s aviation sector can also serve to improve national security and access to humanitarian aid. The study cites that one of the key impediments to improving capacity in aviation is that many African governments lack the resources to build and improve capacity in this crucial sector.
The island economy ranked first in the African Index on Economic Transformation and Depth compared to 20 other African countries, according to the latest report by the African Center for Economic Transformation (ACET). However, the island, which is trying to position itself as an Information and Communications Technology (ICT) hub,could only manage the 14thrank in technology. Mauritius is followed by South Africa, Côte d’Ivoire, Senegal, Uganda, Kenya, and Gabon as
AfricaMoney spoke to Shamima Mallam Hassam, Senior Director, Board of Investment (BOI), on how Mauritius can help the African continent realise its destiny. Just back from the Partnership Summit hosted by the Confederation of Indian Industry (CII), the senior director noted that Mauritius must diversify investment destinations, especially in context of the tax treaty uncertainty with India. Mauritius is poised to become the main gateway to Africa. What makes it
Mauritian financial services major Bramer Bank is currently holding discussions with a major African bank for a possible merger. The management stated that Bramer Bank has ambitious expansion plans for Africa and such a partnership would give it a major advantage in accessing new markets on the continent which are yet underpenetrated. “The opportunity to work with a large African bank would give us direct access to a huge market