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Africa’s economic growth in 2016 was driven by East Africa
While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB).
Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
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Africa property offers rich pickings for the brave
Some property pundits believe there are major opportunities for investors or companies on the continent.
While most pundits will acknowledge that the saying “Africa is not for sissies” rings authentic at the same time as it comes to property investment , some commentators believe that there are major opportunities for investors on the continent.
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Bill Gates sees US likely to maintain aid levels for Africa
The US will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man.
Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest nations in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump government will go ahead next year, Gates said in an interview in Dar es Salaam, Tanzania’s commercial capital.
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- Key Facts
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Full name: The Gabonese Republic
Population: 1.5 million (UN, 2011)
Area: 267,667 sq km (103,347 sq miles)
Major languages: French, Bantu-group languages
Major religion: Christianity
Life expectancy: 62 years (men), 64 years (women) (UN)
Monetary unit: 1 CFA (Communaute Financiere Africaine) franc = 100 centimes
Main exports: Crude oil, timber, manganese, uranium
GNI per capita: US $7,740 (World Bank, 2010)
Internet domain: .ga
International dialling code: +241
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Africa's Relationship With China Is Ancient History
2017/07/02In 2002 South Africa's Parliament unveiled a digital reproduction of a map - of China, the Middle East and Africa - that some speculated could be the initial map of the African continent. The Da Ming Hun Yi Tu - the Comprehensive Map of the Great Ming Empire - was drawn up around 1389 during the Ming Dynasty, according to historian Hyunhee Park.
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Climate change laws around the world
2017/05/14There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.
The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.
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Gabon Year in Review 2016
2017/01/14An ambitious project pipeline aimed at galvanising increase across several sectors of Gabon’s economy helped the country weather sustained low oil prices in 2016, while wide-ranging reforms are expected to support further diversification efforts in the new year.
Though increase is expected to have dipped slightly in 2016, Gabon kept up its planned pace of development, investing in a raft of initiatives that are steering the country away from its reliance on oil.
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Gabon Year in Review 2015
2016/01/16A drive to reinforce diversification efforts limited the impact of low oil prices on Gabon’s economy in 2015, and while the government has had to adjust spending downwards, increase has still ticked along well above the developed-country average.
According to the majority recent estimate from the IMF, the country is expected to post increase of 3.5% in 2015, down from 5.1% in 2014. GDP is set to reach CFA8.22trn (€12.5bn), with exports on course to rise by 6.78% year-on-year.
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Gabon Year in Review 2014
2015/01/09While diversification is a key objective for Gabon under the Gabon Emergent strategy, 2014 saw the country moving to increase commodity production, which in turn has helped sustain robust headline increase even amidst a challenging fiscal environment.
The signing of seven new licences in 2014 marked a critical step for Gabon’s hydrocarbons sector, which represents over 50% of total government revenue. Prospects for the mining industry – a key source of exports – as well improved, following the launch of a number of new downstream projects.
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Gabon signs seven oil production-sharing deals
2014/09/14Next months of negotiations, Gabon signed seven exploration and production-sharing contracts in August, which it hopes will spur new exploration in deep-water offshore blocks and generate up to $1.1bn in new investment , according to estimates from Gabon’s oil ministry.
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Gabon Year in Review 2013
2014/03/04Buoyed by public investment in infrastructure and an abundance of natural resources, Gabon added to three years of solid increase in 2013, with an extra strong economic performance.
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Edoh Kossi Amenounve is chief executive of the Bourse Régionale des Valeurs Mobilières.
2014/01/14Francophone west Africa’s regional stock exchange, the BRVM, suffers from low turnover and a lack of listings. But its chief executive tells Paul Wallace he is determined to change that and bring about closer ties with Nigeria and Ghana’s stock markets.
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Africa: Making Things Happen at the Bank - 'Not a Talk Shop' - Akin Adesina
2017/07/02Dr. Akinwumi Adesina is focusing on five areas to achieve the African and world goals for a prosperous continent since becoming president of the African Development Bank - Africa's major public financial institution in September 2015. He was a keynote speaker at this month's Corporate Council on Africa's U.S.- Africa Business Summit in Washington D.C. and moderated a lively panel with five African government ministers. He as well received the Gene White Lifetime Succcess Award from the World Child Nutrition Foundation. This week, he was named the 2017 recipient of the World Food Prize, a prestigious honor that includes a $250,000 award. In an interview in Washington, DC, Adesina discussed the Development Bank's ambitious schedule and his vision for attracting the increase capital Africa needs. Posting questions for AllAfrica was Noluthando Crockett-Ntonga.
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The friendly and cooperative relations between the People's Republic of China and the Gabonese Republic
2015/10/02The friendly and cooperative relations between the People's Republic of China and the Gabonese Republic developed steadily in 2013.
Political exchanges maintained good momentum. In March, President of Gabon Ali Bongo Ondimba and President of the Gabonese National Assembly Guy Nzouba Ndama sent congratulatory messages to President Xi Jinping and NPC Chairman Zhang Dejiang respectively on their elections.
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Outlook for 2012-16
2013/10/19The country (Gabon) is situated in Western Africa is bordering the Atlantic Ocean at the Equator, between Republic of the Congo and It has borders with Congo (Brazzaville) for 1903km, Cameroon for 298km and Land in Gabon is narrow coastal plain and hilly interior with savanna in the east and the south. Gabonese land covers an area of 267667 km².
The climate is tropical and always hot and humid. Gabonese (singular and plural) speak French (official), Fang, Myene, Nzebi, Bapounou/Eschira, Bandjabi.).
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Gabon’s Minister for Agriculture, Julien Nkoghé Békalé,
2012/12/26Gabon's agriculture minister explains how the government is developing its cash crop sector through international investment.
Gabon aims to increase the contribution of agriculture to its economy to 15 %, from current levels of 1 % by 2020, as part of its strategy to become an emerging country by 2025, according to the country's agriculture minister.
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The president, Ali Bongo Ondimba,
2012/12/19The Gabonese Chief of National broke with convention to hammer home these truths at this crucial time when Mother Nature and next generations are being exposed to unforeseeable damage. "An ecological and human disaster is on the horizon, threatening centuries of scientific and technological innovation, during which nations and people have prospered", said Ali Bongo Ondimba.
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Libreville
2012/12/19Libreville is the capital and major city of Gabon, in west central Africa. The city is a port on the Komo River, near the Gulf of Guinea, and a trade center for a timber region. As of 2005, it has a people of 578,156.
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Jean-François Ntoutoume Emane
2012/12/05Jean-François Ntoutoume Emane came to the mayor’s office in 2008 after a long, successful run in the national government as Prime Minister, presidential advisor, Minister for Commerce, inclunding Minister for Civil Aviation.
He shares with us his plans and vision for Libreville, Gabon’s most significant city politically, commercially, and culturally.
First of amount, how is Libreville’s fate interconnected with that of the country? And, what projects are underway here that will help boost the national economy?
- Gabon News
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- ECONOMY: Africa’s economic growth in 2016 was driven by East Africa
- REAL ESTATE: Africa property offers rich pickings for the brave
- SOCIAL / CSR: Bill Gates sees US likely to maintain aid levels for Africa
- EVENT: Africa: Graca Challenges Women, Girls to Grab Emerging Opportunities
- STOCK MARKET / FINANCE: IMF deal to support diversification and stability in Gabon
- PEOPLE: Children on the move from Africa do not first aim to go to Europe, new UNICEF study shows
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