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The richest black people

Mshale Staff — Tue, 13 Mar 2012 11:14:00 EST

Forbes has released its list of the world�s billionaires and six black people appear on it. Five of the six are from Africa, or have strong roots there. Only one is American and it is media magnate Oprah and she is the only black female on the list.

African Diaspora remittances top US$40b

News Agencies & Mshale Team — Tue, 07 Feb 2012 10:50:00 EST

Diaspora remittances are a key foreign exchange earner for Africa with US$40-billion flowing from the west annually.

That figure is growing at 15% per year, according to the chief executive officer of Homestrings, Eric Vincent Guichard.

Harvard alumnae launch African fashion company

Laya Anasu — Wed, 18 Jan 2012 12:12:00 EST

Earlier this month, two recent alumnae who first met as roommates in Wigglesworth launched an African fashion website. Co-founded by CEO Chioma M. Achebe �10 and CFO Osub S. Ahmed �10, the site is called Osisi, which means �tree� in the Igbo language of Nigeria, according to the site�s creators.

Minnesota conference to discuss trade with Africa

Miriam Mongare — Thu, 01 Dec 2011 09:11:00 EST

Doing business in Africa and how education and workforce development intersect will be the subject of a high level conference on December 7 at the University of Minnesota's Carlson Global Institute.

Audio: African economies experiencing fast growth

UN News Service — Thu, 27 Oct 2011 00:02:00 EST

For the past 10 years, most African economies have been doing quite well. And that�s despite a slowdown in the global economic recovery.

The only ones having difficulties, says Jon Shields of the International Monetary Fund, are those involved in civil strife.

Ernst & Young Survey: Best countries to invest in Africa

News Agencies & Mshale Team — Fri, 01 Jul 2011 02:38:00 EST

Ernst & Young's 2011 Africa attractiveness survey identified 17 African countries that will offer attractive Foreign Direct Investment (FDI) opportunities in the next five years.

Census: Minority-owned businesses jump by over 45%

News Agencies & Mshale Team — Thu, 09 Jun 2011 09:46:00 EST

The number of minority-owned businesses in the U.S. jumped 45.5 percent from 2002 to 2007, more than double the 17.9 percent increase for U.S. businesses as a whole, according to Census data released Tuesday.

Africa trade: UN report urges diversification

UN News Service — Tue, 07 Jun 2011 11:17:00 EST

African countries should develop closer ties with both traditional and emerging partners, to boost sustainable and inclusive growth, according to a United Nations-backed report released today.

Middle Class in Africa triples to 310 million

News Agencies & Mshale Team — Mon, 09 May 2011 10:51:00 EST

The number of middle class Africans has tripled over the last 30 years to 313 million people, or more than 34% of the continent's population, according to a new report from the African Development Bank (AfDB). The reasons for the increase in size and purchasing power of the African middle class include strong economic growth, and a move towards a stable, salaried job culture and away from traditional agricultural activities.

Consultants bullish on Sub-Saharan African growth and reform

News Agencies & Mshale Team — Wed, 26 Jan 2011 11:42:00 EST

Sub-Saharan Africa is weathering the global downturn better than most other parts of the world and is projected to grow by 3,8% and 4,5% this year and next year respectively, faster than Latin America, Europe and Central Asia.

A retrospective fashion exhibit honoring style icon Eunice Johnson

Mshale Staff — Thu, 20 Jan 2011 13:43:00 EST

Macy�s Department Stores and Johnson Publishing Company are partnering to present a beauty, fashion and lifestyle tribute to the life of legendary style maven, Eunice Johnson. The Ebony, Fashion Fair Cosmetics & Macy�s Celebrate Eunice Johnson retrospective, will debut at Macy�s Herald Square in New York City on January 27th thru February 1st, and will then tour 10 Macy�s locations across the country throughout the month of February.

Walmart buys its way into Africa

Mshale Staff — Wed, 19 Jan 2011 15:30:00 EST

Walmart, the U.S. retail juggernaut, will set up shop in South Africa, according to media reports.

Shareholders of South African retailer, Massmart Holdings Ltd., on Monday voted 98% in favor of selling a 51% stake to Walmart at the equivalent of $21.39 per share or 148 Rand.

The total purchase price will come to US$2 billion.

Volunteerism and community development critical to business growth in Africa

News Agencies & Mshale Team — Tue, 04 Jan 2011 11:22:00 EST

For Upendo Minja and Patricia Kafoe, attending Chamber of Commerce board meetings in the United States went beyond just recording minutes � the experience was invaluable, as it empowered them with new ideas on business and community development that they hope to implement in their African organizations.

African media vows to eschew donor funding

News Agencies & Mshale Team — Fri, 26 Nov 2010 06:15:00 EST

Media owners from across the African continent have vowed to end reliance on donor funding and rid the industry of corrupt practices.

Seminar on business opportunities in Liberia to be held in Minnesota

Wynfred Russell — Fri, 22 Oct 2010 15:26:00 EST

During a recent presentation at the African Development Center in Minneapolis about his congressional sponsored trip to sub-Saharan Africa, Fifth District DFL Representative Keith Ellison declared, 'Liberia is open for business!'

Africa's aging planes need replacing, says Boeing

News Agencies & Mshale Team — Mon, 11 Oct 2010 09:19:00 EST

Boeing is forecasting that Africa would need about 700 aircraft worth US $80 billion over the next 20 years to deal with increased air traffic as the continent's economy picks up.

Delta to fly to Senegal and Angola

News Agencies & Mshale Team — Fri, 01 Oct 2010 01:18:00 EST

Delta Air Lines Inc. in January will offer a flight from Atlanta to Dakar, Senegal and Luanda, Angola.

Africa Health Care Conference in Washington October 4-6

Mshale Staff — Thu, 30 Sep 2010 00:31:00 EST

The 2010 U.S.-Africa Private Sector Health Conference, October 4�6 in Washington, will showcase Africa�s thriving health care sector and the successes and opportunities that can be found there. The health sector continues to outperform other business sectors across the continent.

"African Cheese" aims for U.S. market

Jeff Brown — Thu, 15 Jul 2010 11:30:00 EST

Brown�s Cheeses is something of a multinational corporation on a tiny scale: It sells brie, mozzarella and other European-style cheeses made by East Africans, it�s owned by a Kenyan couple of British descent, and their daughter and her American-born husband will start running the company this year.

AGOA is a success, former U.S. trade rep says

Charles W. Corey — Mon, 21 Jun 2010 10:33:00 EST

WASHINGTON � The African Growth and Opportunity Act (AGOA), now celebrating its 10 anniversary, has been an �unqualified success� in helping to stimulate and expand the U.S.-Africa trade relationship and still has much untapped potential, says Rosa Whitaker, who was the first assistant United States Trade Representative to sub-Saharan Africa.