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Africa may be sitting on one of the world’s most underleveraged economic opportunities. Despite its vast cultural heritage, wildlife reserves, coastlines and historical landmarks, the continent still attracts only 5% of global international tourist arrivals annually. For IFC Regional Vice President for Africa, Ethiopis Tafara, that gap signals more than missed travel numbers. It reveals a significant economic opportunity capable of reshaping growth across multiple African economies. Speaking...
Africa may be sitting on one of the world’s biggest untapped financial opportunities, yet the continent still struggles to finance roads, railways, ports, electricity and industrial growth. The contradiction is striking. African governments continue borrowing billions from foreign investors at steep interest rates while huge pools of African money remain invested in the United States and Europe. Economists and financial experts now argue that the continent can close...
Tanzanian billionaire Mohammed Dewji is preparing to shake up East Africa’s beverage industry with a bold $50 million investment in Kenya. Through his conglomerate MeTL Group, Dewji plans to establish a major soft drinks manufacturing plant in Mombasa as he intensifies competition against The Coca-Cola Company and PepsiCo in one of Africa’s fastest-growing consumer markets. The planned facility will manufacture MeTL’s flagship beverages, including Mo Cola, Mo Xtra,...
The world’s largest sovereign wealth fund manager, Norges Bank Investment Management, is considering a landmark partnership with Dangote Group in a move that could reshape investment flows into Africa’s fast-growing industrial sectors. The fresh talks followed a high-level meeting between Aliko Dangote and Nicolai Tangen. Their discussions focused on strategic opportunities across power generation, energy, renewable energy, agriculture, fertiliser production and cement manufacturing. The development marks another strong...
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