Your curated selection of weekly Africa business and investment headlines.
Welcome to Africa Vantage, the Africa business and investment section of the Emerging Real Estate Digest—your insider's guide to investing and doing business on the African continent. Stay informed about the Lobito Corridor with our "Thoughts on the Corridor" section, and keep up with general business trends across Africa through "Africa Vantage."
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Headlines
🎦 Ramaphosa Urges Elon Musk to Invest in South Africa
📸 Africa Produced the First “Dollar” in 1791
📸 Heat Map Showing Africa’s Population Distribution
Africa
📰 Biden to Make First Africa Visit to Angola in the Coming Weeks
The trip will be the first U.S. President to visit Africa since Barrack Obam’s in 2015, and the first to Angola. Angola’s President, Joao Lourenco, was noticeably absent at this year’s Forum on China-Africa Cooperation summit in Beijing… Read More
📰 Nigerian Naira at Fresh Low as Central Bank Dials Back Support
The Naira closed the week trading at around 1,600 naira per dollar and has fallen 70% in value against the US dollar since foreign exchange controls were removed last year keeping it artificially strong… Read More
📰 Donald Trump Makes Case for 100% Tariffs on any Country Dedollarizing
The move would impact a handful of African nations suggesting that they are moving towards using less dollars domestically. It’s not clear how a President Trump would interpret these moves and whether the stiff tariffs would be deemed appropriate in those cases.
“I’ll say, ‘you leave the dollar, you’re not doing business with the United States. Because we’re going to put a 100 percent tariff on your goods,’” he said at a rally in Wisconsin.
“If we lost the dollar as the world currency, I think that would be the equivalent of losing a war,” he told the Economic Club of New York on Thursday… Read More
🎦 Ramaphosa Urges Elon Musk to Invest in South Africa
Musk’s Starlink has had issues entering South Africa due to regulations requiring the company to be at least 30% South African black-owned. The satellite web provider recently entered Zimbabwe, its 16th market in Africa. The two discussed other investments… Read More
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📰 Ivanhoe Announces Kamoa-Kakula Achieved Records Copper Production in August of 40,347 Tonnes
The DRC copper mine, located along the Lobito Corridor, has produced a total of 263,000 tonnes of copper since May 2021 when the mine began producing… Read More
📰 Launch Africa Ventures Launches Mezzanine Fund
The venture capital firm is one of the most active in Arica having made 133 investments with its first fund across 23 countries. The firm has invested over $55 million in direct and co-investments and this fund aims to have a final close of $100 million… Read More
📸 Africa Produced the First “Dollar” in 1791
Sierra Leone was the nation and it wasn’t until three years later that the United States of America issued its first silver dollar in 1794.
📰 Top 5 Countries Nigeria Spent the Most Money on in Q2 2024
In the second quarter of 2024, Nigeria spent a total of ₦12,473.53 billion importing goods from other countries, dominated by Asia. This amount accounted for 39.11% of the West African country's total trade… Read More
📰 HSBC Appears Near to Exiting Sub-Saharan Africa
The discussions underway with RMB are part of a broader strategy by HSBC to shed businesses throughout the world to be able to focus more investments into Asia. It sold its business banking and retail units to Absa recently, and if the RMB transaction closes HSBC would have largely exited sub-Saharan Africa… Read More
📸 Heat Map Showing Africa’s Population Distribution
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