Three Charts That Explain Boom in Southeast Asia's Net Economy19 Nov, 2018
Southeast Asia’s internet economy is on pace to expand 37 percent this year to $72 billion and is projected to exceed $240 billion by 2025, according to a joint research report by Google and Temasek Holdings Pte.
New investment and advisory firm to focus on intra-Africa trade18 Nov, 2018
Two business leaders have launched a new investment and advisory firm focusing on equity investments and trade and corporate finance in Africa.
Singtel to invest US$250m in Airtel Africa; funding round includes Temasek, Warburg Pincus, Softbank24 Oct, 2018
SINGTEL will invest US$250 million in Airtel Africa Ltd in an effort to tap the continent’s burgeoning use of mobile money and mobile wallets.
Airtel Africa will be valued at US$4.4 billion after the funding round, the proceeds of which will be used to reduce Airtel Africa’s existing debt of around US$5 billion and grow its business ahead of an intended initial public offering, Singtel said.
The investment forms part of US$1.25 billion in global funding which the African telco has secured from international investors, which includes Singapore investment firm Temasek Holdings, American private equity firm Warburg Pincus and Softbank Group International.
Singapore fintech firms joining the dots in Africa's digital frontier17 Aug 2018
ONE of the world’s leading mobile-money markets is farther afield than many might venture – but Kenya, on Africa’s east coast, is fertile ground for Singapore firms tapping the digital economy. And other countries on the continent are no slouch, either.
Government agency Enterprise Singapore (ESG) helped 10 home-grown digital companies in their move to Africa in the past year, according to figures provided to The Business Times – a sizeable chunk of the 60-odd Singapore businesses it has supported there.
“The new wave is actually the technology type of companies in the digital space, in the services sector,” said Singapore Business Federation (SBF) assistant executive director Cody Lee, citing infocomm technology and financial technology (fintech). “Many of these business models are asset-light.”
Petronas makes an entry into Senegal13 Aug, 2018
Petroliam Nasional Bhd has acquired 30 per cent stake in Senegal-based Rufisque Offshore Profond Block, marking its entry into the country.
Petronas said the farm-in is aligned with Petronas’ upstream strategy to grow its exploration portfolio in West Africa, where it is operator of an ultra-deep water block in Gabon and currently looking to explore further in the region.
The national oil and gas company said its subsidiary PC Senegal Ltd, has recently signed a Farm-in Agreement with TOTAL E&P Senegal SAS for the acquisition.
Malaysia – Africa’s Silent Partner6 Aug, 2018
Talk about Africa’s international investors and partners and Malaysia’s name rarely comes up. Yet in the shadow of China’s African engagement (and the attention paid to Sino-African relations), Malaysian companies and policymakers have built a sizeable presence across Africa over the past two decades. In 2011, with investments of $19 billion Malaysia was in fact Africa’s most important Asian investor, ahead of China and India in terms of the size of its foreign direct investment (FDI). All of this occurred mostly unnoticed by Western observers. Significant attention is being paid to the developing South-South relations, developments in and among the BRICS states, and Sino-African relations; the African engagement of states such as Turkey, Iran, Korea, the UAE, and Malaysia has largely been ignored. However, Malaysia in particular has a special role in this group of African partners.
Singapore firms should add Africa’s e-commerce opportunity to their carts Jun 19, 2018
Valued at US$300 billion (S$400 billion), Africa’s digital economy is growing quickly.
Its huge potential has lured international digital players to the continent over the last five years. Jumia Group, backed by Germany’s Rocket Internet, has e-marketplaces in 23 African countries; Naspers, the world’s 7th largest internet company, has invested in South Africa’s top e-marketplace Take-A-Lot.
Singapore's DPM Tharman visited Kenya, Rwanda to deepen engagements in Sub-Saharan Africa regionJun 16, 2018
Deputy Prime Minister Tharman Shanmugaratnam this week met government leaders in Kenya and Rwanda, as part of Singapore’s deepening engagements in the growing Sub-Saharan Africa region.
Mr Tharman, who is also Coordinating Minister for Economic and Social Policies, visited Kenya (June 12-13 and 15) and Rwanda (June 13- 14), said a press release from the Prime Minister’s Office today (June 16).
Bandung Revisited: Africa-Asia Relations in the 21st CenturyOct 6, 2017
The opportunities for greater engagement and exchange between Africa and Asia are numerous and can lead to mutual benefit for the regions. This was key-takeaway from Africa-Asia roundtable held at Asia Centre on 5th October 2017.
Olusegun Obasanjo, Akinwunmi Adesina, Paul Kagame and over 20 other influencers to speak at the 24th Afrexim Bank AGM.
June 20, 2017
The 24th African Export-Import Bank Annual General Meeting of Shareholders will be held in Kigali Rwanda on the 28th of June to the 1st of July. The theme this year is “Boosting intra-African trade and integration” where more than 20 high-profile political and business leaders will be attending the event.
DPM Teo caps off 5-day visit to EthiopiaMay 12, 2017
Businesses and people-to-people links to Singapore and Ethiopia are expected to increase with the re-launch of direct flights by Ethiopian Airlines between Addis Ababa and Singapore next month.
Africa's Singapore: Finding SingaporeFeb 12, 2017
Rwanda has shed its violent past, transforming into what some call “the Singapore of Africa” – with a teeny bit of help from a Singaporean or two.
Working hard to create a mini-Singapore - in AfricaFeb 12, 2017
Singaporeans are training teachers, planning towns and impacting the lives of communities in Rwanda, as profiled in the documentary Finding Singapore.
S'pore inks three deals with African nationsAug 25, 2016
Singapore government on Wednesday put pen to paper on three major deals with African countries, which will go a long way towards boosting greater trade and investment between Singapore and Africa.
Local firms drawn to vast potentialAug 25, 2016
Singapore’s local businesses are keen to capitalise on Africa’s vast potential, despite the difficulties of doing business there. Bosses, many from small and medium-sized enterprises (SMEs), told The Straits Times they are excited about Africa’s momentum and potential, and plan to expand operations there.
Africa is on the ascent and S'pore must ride this wave, says TharmanAug 25, 2016
Globalisation has earned itself a “bad reputation” because of policy failures in the advanced world, and Deputy Prime Minister Tharman Shanmugaratnam believes this sort of negative narrative around globalisation should have no place in either Asia or Africa.
Malaysia, African continent bilateral trade to grow by 10%Feb 26, 2016
Bilateral trade between Malaysia and the African continent is expected grow by 10 per cent this year from RM30.1 billion recorded in 2015, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said today.
Rwanda's "Madame Poulet" From Singapore: CNA InsiderOct 11, 2015
In Rwanda, they call her “Madame Poulet du Singapour” (Chicken Madam from Singapore). How does Lam Shumei, a young Singaporean lady with zero farming experience, make chicken meat more accessible and affordable for the small African nation still remembered for the genocide of 1994?
Malaysia Ramping up in AfricaSep 30, 2015
Malaysia is building partnerships in Africa as part of its vision to achieve greater resiliency on the global stage through political and economic diversification.
Lianhe Zaobao African Art Premiering in SingaporeJul 30, 2015
The OKINKA African Art Exhibition displays more than 50 precious African art pieces, including bronze and wooden scluptures. With over 20 rare and exquisite masterpieces, the exhibition is premiering in Singapore.
The not-so-dark ContinentOct 8, 2014
As ASEAN nations begin to foster economic ties with their African counterparts, the bloc needs to open its eyes to the opportunities available in this flourishing land.