Latest news with #Africa-wide
IOL News
3 days ago
- Business
- IOL News
Aviation's role in helping Africa become an economic superpower
As home to the world's youngest workforce, paired with evolving legislation and massive capacity for expansion of airline services, Africa has unprecedented potential for development, writes Thierry Antinori. With the world's youngest and fastest growing workforce and rich natural resources, it is well documented that Africa has vast potential for socio economic development. Much has been said and written about how to unleash that potential, but the continent's people, business and political leaders have what it takes to turn Africa into an economic giant. A major reason for this is the continent's energetic, entrepreneurial spirit. It is clear that work still needs to be done. Increasing productivity is essential to restoring Africa's economic vitality and promoting growth. The aviation sector is a perfect example of where the challenge – and potential – lies. While home to 18 per cent of the global population, Africa makes up just two per cent of global air traffic, and two per cent of international trade. At the same time, the International Air Transport Association (IATA) and the world's major aircraft manufacturers, Boeing and Airbus, forecast that Africa is the only airline market that will grow significantly over the next 20 years. As a major global airline, Qatar Airways is keenly aware of the potential Africa holds and is laser-focused on ensuring that aviation plays an important role in connecting Africa. The aviation sector would drive and promote Africa's social, economic and political integration and boost trade and tourism. This has driven Qatar Airways to make investments and network expansions that support this goal. You only have to look at Qatar Airways' recent investment in Southern Africa's premier independent regional airline, Airlink; a new route to Kinshasa and its existing engagement in the development of Rwanda's aviation sector, to see that these words are backed by action. It's why, for example, Qatar Airways has adjusted its services leading to its current Africa-wide summer capacity that averages over 44,000 seats per week, equating to a maximum of 180 flights a week to about 30 cities across the continent. Moreover, Qatar Airways' passengers travelling between Cape Town and Doha will, as of 1st of June, be able to access Starlink's cutting-edge internet connectivity on-board select flights, allowing them to enjoy a fully complimentary and ultra-fast Wi-Fi service for streaming, gaming, and working seamlessly at 35,000 feet. As Qatar Airways celebrates its 20th anniversary in South Africa, the continued focus on the schedule and improved passenger experience reflects its commitment to the country and continent. The airline's recent acquisition of a 25% stake in South Africa's regional airline, Airlink, underscores its confidence in Africa's tourism growth potential. But it is not just route frequencies that are helping drive aviation's role in helping manifest Africa's potential. Legislation is also a factor. The Single African Air Transport Market (SAATM) aims to harmonise Africa's airspace, improve air traffic management, and increase intra-African air connectivity. So far, 34 African countries have signed up. The movement is promising and will be more effective once all African countries come onboard. We will need the best people working in aviation if the projected tourism numbers are to be met. The total contribution of travel and tourism to Africa's GDP was USD191 billion in 2023 and is forecasted to rise by 4.4 per cent annually from 2024 to 2034. The impact of this on the continent's workforce cannot be overstated. It is projected that by 2034, travel and tourism would support 38,760,000 jobs (6.0% of total employment), an increase of 3.9% per annum since 2024, according to World Travel and Tourism Council (WTTC) research. Qatar Airways' commitment to Africa has been underscored with a steady recruitment drive to bolster the nearly 8,500 full-time employees from across Africa that are currently working within the Qatar Airways Group, both in Doha and the outstations. Qatar Airways' continuous strategy-aligned recruitment drive to help develop human capital across Africa accelerates the airline's growth in the region, which will continue to unlock hundreds of vacancies in fields such as cabin services, cargo and airport operations, customer services, engineering, flight operations as well as retail and hospitality services. This provides opportunities for exciting and fulfilling careers for young Africans with the world's best and fastest growing airline and helps drive aviation's role as a driver of regional and global development. This commitment has led to Qatar Airways being voted the most desirable company to work for in countries like Algeria, Morocco, Seychelles, Uganda and Zimbabwe, according to With greater employment opportunities comes the associated economic benefits. The ratification of the African Continental Free Trade Area (AfCFTA), a major component of the African Union's (AU) Agenda 2063, was drawn up to accelerate the continent's socio-economic growth. The AU anticipates that Agenda 2063 will catalyse the integration of African regional markets, stimulating growth and supporting the welfare of its people. Underpinning that is the role of faster, easier, more economically viable trade networks, expediting the movement of people and goods. The numbers speak for themselves. The WTTC estimates that international visitors will spend USD71.5 billion across Africa this year; an increase of USD11.2 billion from last year, and domestic visitors will spend USD101.3 billion, a year-on-year increase of 6.8 per cent. Leisure spending still outweighs business spending at 70.1 per cent. The momentum of the aviation sector's contribution in Africa's development must be maintained. As governments fully embrace the freedom of movement under an 'Open Skies' policy, liberalisation of Africa's airspace promises to spur trade and development and deliver improved connectivity within Africa and between the continent and rest of the world. Aviation plays a central role in infrastructure development, economic growth and tourism, generating $6 in economic activity for every $1 spent. According to a 2020 study conducted by the Air Transport Action Group, airlines, airport operators, retailers and other aviation related businesses supported 7.7 million jobs across Africa and generated a $63 billion contribution to GDP. Business and its associated out-turns such as employment, always thrives where there is dependable, safe, and competitively priced air transport network. Now more than ever before, it is important that we all work hand-in-hand to ensure that we unlock all of the potential and benefits that come with better connectivity in Africa. Commercial aviation stands ready and is in many ways already playing its part in helping ensure that Africa emerges as the global economic superpower it is capable of becoming.
Business Insider
21-06-2025
- Business
- Business Insider
Aliko Dangote eyes Namibia for the next big investment move amid pan-African expansion
Aliko Dangote, billionaire and one of the most prominent African investors, is considering Namibia as a potential destination for his group's extensive investment portfolio. Billionaire Aliko Dangote considers Namibia for expanding his investment portfolio. His investment approach emphasizes Africa-wide economic self-reliance and development. Namibia is implementing strategies in green hydrogen and private sector collaborations. Fresh off the completion of what is now the world's largest oil refinery, Dangote hinted at his plans to expand into Namibia during a high-level meeting with President Netumbo Nandi-Ndaitwah in Windhoek this week. The visit marks another step in the Dangote Group 's ongoing expansion into energy and industrial markets across over a dozen African countries, including South Africa, Ethiopia, Zambia, and Tanzania. ' Africa is Africa. It's not about Nigeria alone. If we sit back, there is no entrepreneur; whether from Japan, the U.S., or elsewhere, who can come and build our continent for us. ' The billionaire said. Why Namibia? Dangote's interest in the southern African nation aligns with its emerging green hydrogen strategy and energy ambitions, as well as its renewed focus on pan-African private sector partnerships. Most notably, he announced the completion of a 650,000-barrel-per-day oil refinery, now the largest in the world, alongside significant production capacities for polypropylene, fertilizer, LPG, and other industrial products. He stated, " We now have oil and gas. We've just finished building the largest refinery ever built, not just in Africa, but globally." 'We produce one million tonnes of polypropylene, carbon black feedstock, LPG, sulphate chips, and a fertilizer capacity of over three million tonnes; the second largest in the world." He added. The billionaire investor highlighted his $620 million investment in South Africa as part of a broader strategy to promote economic self-reliance and intra-African trade, stating,"It's not about Nigeria; it's about Africa. We must show that it can be done, and done by us." In response to his comments, President Nandi-Ndaitwah emphasized the need for African-owned investments to drive value addition and job creation. She said: " We are too few to be poor, considering the resources we have; both human and natural." "We don't want to be seen as a rich continent with poor people. African entrepreneurs like you give hope to the young ones that it is possible." She added. In a potential investor-wooing effort, she invited Dangote to consider Namibia as "a home away from home" and affirmed the country's readiness to support African-led investment projects with long-term local impact. 'When we meet successful African entrepreneurs like you, it is not just business; it is inspiration,' she said. 'Namibia is ready for this kind of partnership.' Nandi-Ndaitwah said.
NDTV
20-06-2025
- General
- NDTV
5 Indie Art Spaces In African Cities Worth Knowing More About
Independent art spaces are collectives of artists (and others) who club together to set up a communal space – often in former industrial sites and more affordable parts of the city – to further their practice. These spaces are DIY art institutions, if you like, that operate largely under the radar. In art world lingo, 'offspaces'. Designed for purpose over profit, they encourage experimental work and creative risk-taking. They also favour art in public space, which provides an intriguing lens on the city. My Africa-wide research took me to five such spaces, each at least 10 years old, so that I could learn their secret sauce of sustainability. I found it's largely about shapeshifting, a capacity for constant reinvention. The key ingredient is artistic thinking, made up of five key principles highlighted in the examples below. Offspaces are found everywhere but have notably grown across Africa over the past couple of decades, along with fast-changing cities and a resurgent art scene. One big picture point is crucial, and that's about urbanisation. Globally, more and more people are moving to cities and most of them are young – by 2050, one in three young people in the world will be of African origin and the continent will be largely urban. There can be a lack of imagination about what all this means and that's where artists come in. They offer new ideas to help build the world we want to live in, rather than reinforce the one we already have. Offspaces in Africa have to navigate prevailing uncertainty, which is a daily reality for most people living in cities. In response, artists band together to build their own pseudo institutions, bit by bit. These self-made pathways offer useful navigational tactics for others – or 'panya routes', as Kenyans call the trails that motorbike taxis invent. The spaces I visited were all moving away from reliance on foreign donor funding (given little or no state support) towards a hybrid model that blends with local philanthropy, collaborative economies and self-generated income schemes. They also want to own their own land and hold assets so that they can think about the future. 1. The GoDown Arts Centre – Nairobi, Kenya The GoDown Arts Centre was established in 2003. Previously a large compound of repurposed warehouses ('godowns') in Nairobi's industrial area, right now it's a construction site as it morphs into an iconic cultural hub. GoDown 2.0 is a multipurpose vision that works at different scales, like a fractal. There will be a large, welcoming facade leading into a semi-public section for music and dance, with artist studios at the heart. Plus galleries, library, museum, auditorium, offices, hotel, a restaurant, conference facilities and parking. Its rebuild is a great example of how artists create public space: in phases. It follows a radical 'design-with-people' approach, starting with years of input from all directions to reconsider the building and its relationship to the city. This ground-up ethos of horizontality, the first key principle, also shapes its signature event, an annual public arts festival called Nai Ni Who? (Who is Nairobi?). Local residents are the curators, and the everyday city is the artwork. Participants are taken around neighbourhoods on foot to experience the good, the bad, and the possibilities. These grounded insights also inform ongoing engagements GoDown has with policymakers about the shape of a future Nairobi. 2. ANO Institute – Accra, Ghana ANO, established in 2002, repurposed a former workshop for car repairs into a gallery, after starting life in a public park. On the other side of the road, opposite the gallery, stood its office, residency space and growing library. Most intriguingly, a striking rectilinear structure was positioned alongside. This Mobile Museum mimics the trading kiosks that line every street. Many are also shapeshifters: kindergarten by day, church by night, for example. ANO's empty museum, collapsible and see-through, went on a countrywide adventure in 2018 and 2019, asking people to imagine its contents, and later revisited with the results. It signalled a larger and ongoing effort, Future Museum, to find a more relevant exhibition form that's alive to the fluid way culture is threaded here into everyday life. ANO demonstrates the second principle of performativity – that is, not only saying things with art but doing things too. More recently, it rebuilt on a new site in central Accra, designed by 87-year-old Ophelia Akiwumi, entirely from raffia palm in a focus on indigenous knowledge systems. 3. Townhouse Gallery – Cairo, Egypt I visited Townhouse just after it reclaimed its inner-city premises following a partial physical collapse. But this turned out to be a false restart. It closed for good not long after, citing a complex brew of factors that ended 21 years of various battles and resurrections. That it survived so long – from 1998 until 2019 – is remarkable for an offspace. Part of the reason was its solidarity networks, including with neighbourhood communities – mostly mechanic shops and other artisanal trades who even helped Townhouse rebuild. In its heyday, Townhouse comprised an art gallery, library, theatre and performance venue, and notably hatched other spaces. The latest rose like a phoenix from its ashes – Access Art Space, which reanimates the same physical space with visual art exhibitions. The legacy of Townhouse is the third principle of elasticity – responding nimbly to constant flux but also being able to refuse impossible conditions with ' the right no ' (a necessary response in certain situations). 4. ZOMA Museum - Addis Ababa, Ethiopia ZOMA Museum has also lived many lives. Starting small, its roots were in a three-day public arts festival called Giziawi #1 (Temporary). It comprised performances and exhibitions across the city but focused on Meskel Square, a key public space. Zoma Contemporary Art Centre grew out of that in 2002, followed in 2019 by Zoma Museum when its co-founders bought a plot of polluted land. Its rehabilitation into an ecological haven has become a case study in sustainable architecture. Zoma is built by local artisans from mud and straw using indigenous technologies going back centuries. Yet its elegant buildings look futuristic. Zoma is all about the fourth principle of convergence – the past, present and future all happening at once. It's also about doing multiple things, like running Zoma School, an inherited kindergarten. The land is part of the curriculum. Just a year after it opened, Zoma spawned yet another life, an offshoot in a newly opened park blending nature with culture and recreation. 5. Nafasi Art Space - Dar Es Salaam, Tanzania Nafasi is Swahili for opportunity or chance, which fittingly describes the workings of Nafasi Art Space, established in 2008 – that is, second chance. This fifth and final principle of artistic thinking means giving materials, people and situations another go. A good example of this is Nafasi's new art school, built using repurposed shipping containers, like the rest of its premises – artist studios, a spacious gallery and performance arena. In the 2022 academy cohort, a general practice lawyer and an accountant were learning alongside artists, with a biologist at the helm. Nafasi Art Academy cites the city's biggest local market, Kariakoo, as design reference, particularly its distinctive elevated canopy and swirling stairwell. The curriculum also takes local context as a starting point, structured in themes to answer community-led questions. Its key function, like all the other offspaces, is storytelling. And the story it tells best is about institution-building as art. (Author: , Senior Researcher, Centre for Humanities Research — Platform: SA-UK Bilateral Digital Humanities Chair in Culture & Technics, University of the Western Cape) (Disclosure Statement: The research behind this article was supported by the South African Research Chair in Urban Policy at UCT's African Centre for Cities, where the author was previously affiliated.)
The Star
19-06-2025
- Business
- The Star
Aviation's role in helping Africa become an economic superpower
As home to the world's youngest workforce, paired with evolving legislation and massive capacity for expansion of airline services, Africa has unprecedented potential for development, writes Thierry Antinori. With the world's youngest and fastest growing workforce and rich natural resources, it is well documented that Africa has vast potential for socio economic development. Much has been said and written about how to unleash that potential, but the continent's people, business and political leaders have what it takes to turn Africa into an economic giant. A major reason for this is the continent's energetic, entrepreneurial spirit. It is clear that work still needs to be done. Increasing productivity is essential to restoring Africa's economic vitality and promoting growth. The aviation sector is a perfect example of where the challenge – and potential – lies. While home to 18 per cent of the global population, Africa makes up just two per cent of global air traffic, and two per cent of international trade. At the same time, the International Air Transport Association (IATA) and the world's major aircraft manufacturers, Boeing and Airbus, forecast that Africa is the only airline market that will grow significantly over the next 20 years. As a major global airline, Qatar Airways is keenly aware of the potential Africa holds and is laser-focused on ensuring that aviation plays an important role in connecting Africa. The aviation sector would drive and promote Africa's social, economic and political integration and boost trade and tourism. This has driven Qatar Airways to make investments and network expansions that support this goal. You only have to look at Qatar Airways' recent investment in Southern Africa's premier independent regional airline, Airlink; a new route to Kinshasa and its existing engagement in the development of Rwanda's aviation sector, to see that these words are backed by action. It's why, for example, Qatar Airways has adjusted its services leading to its current Africa-wide summer capacity that averages over 44,000 seats per week, equating to a maximum of 180 flights a week to about 30 cities across the continent. Moreover, Qatar Airways' passengers travelling between Cape Town and Doha will, as of 1st of June, be able to access Starlink's cutting-edge internet connectivity on-board select flights, allowing them to enjoy a fully complimentary and ultra-fast Wi-Fi service for streaming, gaming, and working seamlessly at 35,000 feet. As Qatar Airways celebrates its 20th anniversary in South Africa, the continued focus on the schedule and improved passenger experience reflects its commitment to the country and continent. The airline's recent acquisition of a 25% stake in South Africa's regional airline, Airlink, underscores its confidence in Africa's tourism growth potential. But it is not just route frequencies that are helping drive aviation's role in helping manifest Africa's potential. Legislation is also a factor. The Single African Air Transport Market (SAATM) aims to harmonise Africa's airspace, improve air traffic management, and increase intra-African air connectivity. So far, 34 African countries have signed up. The movement is promising and will be more effective once all African countries come onboard. We will need the best people working in aviation if the projected tourism numbers are to be met. The total contribution of travel and tourism to Africa's GDP was USD191 billion in 2023 and is forecasted to rise by 4.4 per cent annually from 2024 to 2034. The impact of this on the continent's workforce cannot be overstated. It is projected that by 2034, travel and tourism would support 38,760,000 jobs (6.0% of total employment), an increase of 3.9% per annum since 2024, according to World Travel and Tourism Council (WTTC) research. Qatar Airways' commitment to Africa has been underscored with a steady recruitment drive to bolster the nearly 8,500 full-time employees from across Africa that are currently working within the Qatar Airways Group, both in Doha and the outstations. Qatar Airways' continuous strategy-aligned recruitment drive to help develop human capital across Africa accelerates the airline's growth in the region, which will continue to unlock hundreds of vacancies in fields such as cabin services, cargo and airport operations, customer services, engineering, flight operations as well as retail and hospitality services. This provides opportunities for exciting and fulfilling careers for young Africans with the world's best and fastest growing airline and helps drive aviation's role as a driver of regional and global development. This commitment has led to Qatar Airways being voted the most desirable company to work for in countries like Algeria, Morocco, Seychelles, Uganda and Zimbabwe, according to With greater employment opportunities comes the associated economic benefits. The ratification of the African Continental Free Trade Area (AfCFTA), a major component of the African Union's (AU) Agenda 2063, was drawn up to accelerate the continent's socio-economic growth. The AU anticipates that Agenda 2063 will catalyse the integration of African regional markets, stimulating growth and supporting the welfare of its people. Underpinning that is the role of faster, easier, more economically viable trade networks, expediting the movement of people and goods. The numbers speak for themselves. The WTTC estimates that international visitors will spend USD71.5 billion across Africa this year; an increase of USD11.2 billion from last year, and domestic visitors will spend USD101.3 billion, a year-on-year increase of 6.8 per cent. Leisure spending still outweighs business spending at 70.1 per cent. The momentum of the aviation sector's contribution in Africa's development must be maintained. As governments fully embrace the freedom of movement under an 'Open Skies' policy, liberalisation of Africa's airspace promises to spur trade and development and deliver improved connectivity within Africa and between the continent and rest of the world. Aviation plays a central role in infrastructure development, economic growth and tourism, generating $6 in economic activity for every $1 spent. According to a 2020 study conducted by the Air Transport Action Group, airlines, airport operators, retailers and other aviation related businesses supported 7.7 million jobs across Africa and generated a $63 billion contribution to GDP. Business and its associated out-turns such as employment, always thrives where there is dependable, safe, and competitively priced air transport network. Now more than ever before, it is important that we all work hand-in-hand to ensure that we unlock all of the potential and benefits that come with better connectivity in Africa. Commercial aviation stands ready and is in many ways already playing its part in helping ensure that Africa emerges as the global economic superpower it is capable of becoming.
Morocco World
12-05-2025
- Business
- Morocco World
Morocco's Corporate Dominance: 14 Firms Rule North Africa's Top 20
Doha – Morocco's corporate sector is tightening its grip on North Africa's business landscape, dominating the region's top rankings. According to the latest African Business 'Top Companies 2025' report, Moroccan firms occupy all six of the top spots and 14 of the top 20 positions among North Africa's biggest listed companies. In contrast, only two Egyptian firms made it into the region's top 13, with Egypt holding just six places overall in the top 20. This growing Moroccan corporate strength comes as Egypt struggles to fulfill long-promised economic reforms. Attijariwafa Bank leads the pack as North Africa's largest listed company, ranking 7th continent-wide. Its market value jumped significantly from $10.8 billion last year to $15.6 billion in the 2025 table. Maroc Telecom follows in second place regionally and 10th in Africa, with its value increasing from $8.7 billion to $11.1 billion. Mining firm Managem secured the third position in North Africa and 21st in Africa, followed by Banque Centrale Populaire (4th regionally, 22nd in Africa), transport operator Marsa Maroc (5th regionally, 24th in Africa), and power company TAQA Morocco (6th regionally, 26th in Africa). 'Morocco's lead over Egypt seems to grow stronger every year,' notes the report. 'The six biggest listed companies in North Africa are all Moroccan and there are only two Egyptian companies among the top 13.' While Egypt has promised to privatize state-owned companies and reduce military influence over the economy, progress has been limited. Meanwhile, 'Moroccan companies go from strength to strength,' according to African Business. Commercial International Bank (CIB) remains Egypt's biggest company, ranking 7th regionally and 30th in Africa. However, it continues sliding down the rankings as Moroccan firms expand. The remaining Moroccan companies in the top 20 include LafargeHolcim Maroc (8th regionally, 33rd in Africa), Bank of Africa (9th regionally, 35th in Africa), Ciments du Maroc (11th regionally, 47th in Africa), and Travaux Generaux de Construction de Casablanca (12th regionally, 59th in Africa). Other notable Moroccan entries include COSUMAR (13th regionally, 61st in Africa), Douja Promotion Groupe Addoha (16th regionally, 65th in Africa), Akdital (17th regionally, 66th in Africa), Wafa Assurance (18th regionally, 68th in Africa), and TotalEnergies Marketing Maroc (19th regionally, 74th in Africa). Egypt holds the remaining positions with El Sewedy Electric Company (10th regionally, 42nd in Africa), Talaat Moustafa Group Holding (14th regionally, 62nd in Africa), Eastern Company (15th regionally, 63rd in Africa), and Misr Fertilizers Production Company (20th regionally, 75th in Africa). A mining success story Managem stands out as one of the region's biggest corporate success stories. The Moroccan mining company jumped from 57th place last year to 21st in the 2025 Africa-wide rankings. Its market capitalization tripled from $2 billion to $6.1 billion. The company operates in eight African countries, mining and processing various commodities including cobalt, copper, gold, silver and zinc. Rising prices for critical minerals have boosted Managem's performance. These minerals, particularly copper and cobalt, are in high demand for the energy transition. Gold prices have also spiked as investors seek protection against market volatility. The company is expanding its operations. Managem is investing in the Tizert copper mine in Morocco's Taroudant province and the Boto gold project in eastern Senegal. In October 2024, it acquired the Karita gold project in Guinea from Canadian company IAMGOLD. At the same time, Managem sold its Oumejrane copper mine in Morocco to UAE's Purple Hedge DWC for $30 million earlier this year. Regional corporate landscape The absence of Algerian companies in the rankings highlights limitations in that country's economic strategy. Despite having Africa's fourth-largest economy behind South Africa, Nigeria and Egypt, Algeria has no companies in either the North African Top 20 or the wider African Top 250. Its government has discussed diversifying away from oil and gas for 20 years with limited progress, and private sector participation in key parts of the economy remains restricted. Tunisia shows more economic openness with seven companies in Africa's Top 250, including three banks. The country has leveraged its proximity to European markets by developing export-oriented sectors tied to global supply chains. However, its smaller population means Tunisian companies cannot match the scale of those in Morocco or Egypt. On the continental level, African companies have seen a partial recovery in value. The combined market capitalization of Africa's 250 biggest companies reached $564 billion by March 2025, up from $503 billion last year. However, this remains well below the peak of $948 billion achieved in 2015. South African companies continue to dominate the continent's rankings, accounting for 60% of the total market capitalization of Africa's Top 250 firms. Morocco ranks second nationally with 15%, followed by Nigeria with 7% and Egypt with 6%. The African Business survey methodology focuses on listed companies, with rankings determined by market capitalization as of March 31, 2025. State-owned enterprises and companies earning less than 50% of their revenues in Africa are excluded. The rankings also omit companies not listed on African stock exchanges, regardless of their operational presence on the continent. Read also: Benjelloun, Sefrioui, Akhannouch Among 2025 Forbes World's Billionaires
