Business News Report – January 2019

Every month Africa HR Solutions curates the latest high impact news across Africa. Check the top business news for January 2019.

First joint Sino-African trade expo

A date has now been set for the first joint Sino-African trade expo. Between June 18 and 20, the China-Africa Economic and Trade Expo will kick off in Changsha, the capital of central.

China’s Hunan province. Officials will sign bilateral agreements during the exhibition, engage in investment promotions, and establish a “new mechanism” for future economic cooperation.

Ethiopia has tripled the size of its main airport

Ethiopia’s capital is set to cement its place as Africa’s leading aviation hub with an expanded airport terminal which triples it passenger capacity.

The project, which was funded and built by China for $363 million, triple the airport’s size and can now accommodate up to 22 million passengers annually from its current 7 million.

Russia's diamond miner Alrosa to set up in Zimbabwe

The world’s leading diamond producer, Russia’s Alrosa, will set up operations in Zimbabwe to launch mining operations, the group announced during a visit by Zimbabwean President Emmerson Mnangagwa to Moscow.

In March 2018, Russian Foreign Minister Sergei Lavrov visited several African countries, stressing Moscow’s interest in the diamond and platinum industry in Zimbabwe during a meeting in Harare with the Zimbabwean President.

Rwanda emerging as a key tech and investment hub in Africa

South Africa, Kenya and Nigeria accounted for 76% of total funding in 2017 and was the top three tech startup ecosystems to have highest number of startups funded per country. Whilst the trio continue to dominate, Rwanda, despite its small population, is positioning itself as a profitable commercial hub through its ease of doing business and by implementing a lenient visa policy.

Much of the partnership work has been undertaken by the Rwanda Development Board, whose mission is to stimulate growth and activity and 2018 has been a particularly busy year for attracting new business and enterprise to the country.

Ethiopia has tripled the size of its main airport

Ethiopia’s capital is set to cement its place as Africa’s leading aviation hub with an expanded airport terminal which triples it passenger capacity.

The project, which was funded and built by China for $363 million, triple the airport’s size and can now accommodate up to 22 million passengers annually from its current 7 million.