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Ethiopia’s Economy To Grow 10.5 Percent In 2015/16

AFRICANGLOBE - Ethiopia's economy is expected to grow by 9.5 percent this fiscal year ending June before accelerating to 10.5 percent in 2015/16, the World Bank said on Friday, adding inflation will remain in single digits during this period. The ruling Ethiopian People's Revolutionary Democratic Front (EPRDF) has touted its economic achievements before Sunday's election, although no one doubts it will sweep to power again.

Made In Africa: Three Cars Designed And Manufactured In Africa

AFRICANGLOBE - African entrepreneurs are now entering the automobile industry; designing and developing vehicles specifically geared for the local market and local consumers but with global aspirations. Below are three African automobile manufacturing companies that are developing “made in Africa” vehicles that look the most promising for the African consumer market;

Haitians Worry World Bank-Assisted Mining Law Could Result In “Looting”

AFRICANGLOBE - The aim of the new draft mining law appears to be a massive expansion of Haiti’s mining sector, paving the way for the entry of foreign companies already interested in the country’s significant gold and other deposits.

Nigeria To Grow At 4.6% In 2015

AFRICANGLOBE - Africa’s largest economy, Nigeria, which has maintained growth at an average of 6 to 7 percent in recent years, may see significantly less growth in 2015, with World Bank’s outlook predicting a 4.6 percent growth rate.

Five Cities That Have The Ingredients To Become The Next Silicon...

AFRICANGLOBE - According to World Bank data, there are now more than 90 tech hubs across Africa. Regions such as South East Asia have also caught the eye of both investors and intrepid entrepreneurs. The following five most promising tech cities in emerging markets have all the right ingredients to become future startup capitals.

Has The “Asian Takeover Of The World Bank” Worsened Discrimination Against...

AFRICANGLOBE - The World Bank’s rumor mill has been abuzz with “the Asians are taking over the World Bank” whispers since Dr. Jim Yong Kim, a Korean-born American, became the first non-Caucasian president in the World Bank. Of the 12 top management brass, including the President and those who report directly to him, six are of Asian origin.

Caribbean Remittances Grew By Five Percent – World Bank

AFRICANGLOBE - In 2013, remittances were significantly higher than foreign direct investment (FDI) to developing countries and were three times larger than official development assistance.

‘Apartheid Avenue’ Two Blocks From The White House

AFRICANGLOBE - A segment of 18th Street between Pennsylvania Avenue and G Street has been christened “Apartheid Avenue.” To the left of the Street stands the World Bank’s “J” building where Blacks are segregated. To its right sits the bank’s flagship building where Black professionals face glass doors.

What The Rest Of Africa Could Learn From Rwanda

AFRICANGLOBE - The Doing Business rankings released last year revealed that Rwanda had shot up a whopping 22 places since the previous year, now 32nd.

China As The World’s Largest Economy: What It Means For US...

AFRICANGLOBE - The news that China will displace the US as the world’s largest economy this year is big news. For economists who follow these measurements, the tectonic shift likely occurred a few years ago. But now the World Bank is making it official, so journalists and others who opine on world affairs will have to take this into account. And if they do so, they will find that this is a very big deal indeed.

China Could Overtake The US As The World’s No. 1 Economy...

AFRICANGLOBE - China’s economy is catching up to the U.S.’s much more quickly than anticipated. That’s according to a new report from the International Comparison Program of the World Bank.

Economic Growth Alone Can’t End Poverty – World Bank

AFRICANGLOBE - The World Bank has urged developing-world countries to fund social security programmes to lift the incomes of their poorest people, ending a reliance on growth to end poverty. In a report the bank said that while economic growth remains vital for reducing poverty, it has its limits.

World Bank To Approve Funding For Congo’s Inga Dam Project

AFRICANGLOBE - The World Bank is likely to approve $73 million next week to fund an expansion of the Inga hydroelectric dam in Democratic Republic of Congo, a bank official said on Friday.

World Bank Freezes Loan To Uganda For Not Allowing Homosexuality

AFRICANGLOBE - The World Bank has suspended a planned $90m loan to Uganda meant to strengthen its health care system after its president signed into law a bill prescribing harsh jail terms for homosexual offences. The decision by the global lender comes days after homosexuality supporting countries such as Denmark, the Netherlands and Norway said they would also freeze or change aid programmes for Uganda because of the law.

World Bank To Setup $1 Billion Fund To Map Africa’s Mineral...

AFRICANGLOBE - The World Bank wants to launch a $1 billion fund in July to map the mineral resources of Africa, using satellites and airborne surveys to fill geological gaps across the continent where a lack of adequate data hampers mining investments.

Caribbean Immigrants Abroad Are ‘Very Well Educated’ – World Bank

AFRICANGLOBE - With 80 per cent of the Caribbean diaspora holding college degree; 65 per cent working in the private sector in the U.S., Canada, the United Kingdom and elsewhere; and a quarter described as well-off with either a net worth or annual incomes in excess of $100,000, “these affluent and accredited individuals are of critical importance in making informed investments back home