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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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African real estate market still standing after tough 2016
African real estate has had a tough year navigating diffcult economic conditions. Most investors on the continent remain private equity groups as opposed to long term investors or Real Estate Investment Trust ( Reit) investors.
There have as well been currency problems in the likes of Nigeria and Zimbabwe. But 2017 could be better if commodity prices rise globally.
"The continent gained traction last year, notably in the Hotel, Retail and Residential sectors. One hopes that, in 2017, there will be fewer economic and structural difficulties for African real estate," said Ortneil Kutama, Africa Property News Media Director.
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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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- Key Facts
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Full name: The Republic of Mauritius
Population: 1.3 million (UN, 2011)
Area: 2,040 sq km (788 sq miles)
Major languages: English (official), Creole, French, Indian languages
Major religions: Hinduism, Christianity, Islam
Life expectancy: 70 years (men), 77 years (women) (UN)
Monetary unit: 1 Mauritian rupee=100 cents
Main exports: Sugar, clothing, tea, jewellery
GNI per capita: US $7,750 (World Bank, 2010)
Internet domain: .mu
International dialling code: +230
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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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Africa’s 20 most attractive countries for investors – Ernst & Young
2016/05/16Despite its economy slowing down, South Africa remains Africa’s most attractive country for investors, according to the 2016 Ernst & Young Africa Attractiveness Index.
The statement evaluates evolution made in governance, diversification, infrastructures, business enablement, human development inclunding resilience to current macroeconomic challenges.
Morocco is ranked second on the index, followed by Egypt, Kenya, Mauritius, Ghana Botswana, Tunisia and Rwanda. Cote d’Ivoire comes tenth.
Africa’s top economy, Nigeria comes 15th, mainly because of its poor performances in terms of governance and human improvment(See full ranking below).
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Mauritius: Africa’s next banking hub?
2013/09/17Mauritian banks have navigated the country’s economic slowdown well by growing their local loan books inclunding their overseas operations. And the latter have been boosted by Africa’s economic buoyancy, which bankers say Mauritius should exploit to become a hub for investments into the continent.
Mauritius has long punched above its weight. The small island, located far into the Indian Ocean with a people of just 1.3 million and no natural resources to speak of, is one of Africa’s wealthiest nations on a per capita basis, while its economy is part the majority sophisticated on the continent.
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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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Central bank governor Rameswurlall Basant Roi
2017/05/07For the past two years, Mauritius’s central bank has fostered measures to fortify the country's banking sector, which accounts for 12% of its GDP. While reforms are paying off, challenges such as offshore business risk persist and need to be managed, as central bank governor Rameswurlall Basant Roi tells James King.
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Outlook for 2014-17
2013/10/10The country (Mauritius) is situated in Southern Africa, island in the Indian Ocean, east of Madagascar.
Land in Mauritius is small coastal plain rising to irregular mountains encircling central plateau.
Mauritian land covers an area of 2040 km²The climate is tropical, modified by southeast trade winds; warm, dry winter (May to November); hot, wet, humid summer (November to May).
Mauritian(s) speak Creole 80.5%, Bhojpuri 12.1%, French 3.4%, English (official; spoken by less than 1% of the people), other 3.7%, unspecified 0.3% (2000 census).
- Mauritius News
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- ECONOMY: Africa’s economic growth in 2016 was driven by East Africa
- REAL ESTATE: African real estate market still standing after tough 2016
- REAL ESTATE: Africa property offers rich pickings for the brave
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