India can quadruple revenue from Africa by 2025: report

India can quadruple revenue from Africa by 2025: reportAfrica offers a great potential for Indian retailers to unlock in a number of sectors ranging from agriculture to information technology, McKinsey & Co said in its latest report.

According to the report, titled 'Joining Hands to Unlock Africa's Potential A New Indian Industry-led Approach to Africa,' India can quadruple its revenue from Africa to US$160 billion by the year of 2025 by expanding its presence in sectors like IT, agriculture, infrastructure, consumer goods and pharmaceuticals.

Fastjet gains permission to start international operations from Tanzania

Fastjet gains permission to start international operations from TanzaniaAfrican budget carrier Fastjet has announced that it has finally gained permission to start international operations from its hub in Tanzania.

Fastjet, which is backed by Easyjet founder Stelios Haji-Ioannou, said that it would start international flights to Rwanda, Zambia and South Africa, as it had already received route approvals from the relevant government authorities.

The governments of Rwanda, Zambia and South Africa granted permissions under their Bilateral Air Services Agreements (BASAs) with Tanzania.

India, Africa working to enhance cooperation & trade: Anand Sharma

India, Africa working to enhance cooperation & trade: Anand Sharma India and Africa are working closely with each other to enhance bilateral cooperation and trade, Commerce & Industry Minister Anand Sharma said.

Addressing the CII-EXIM Bank meeting on India-Africa partnership yesterday, Mr. Sharma also said that Indian would establish educational institutions in the continent.

Speaking on the topic, Mr. Sharma announced, "India and Africa are engaged in different manner today then when they were few years ago. India is building 70 institutions in Africa together."

JSE head recommends linking of African stock bourses

JSE head recommends linking of African stock boursesNicky Newton-King, the head of the Johannesburg Stock Exchange has said on Friday that the stock markets on African continent must collaborate to take advantage of high investor interest.

He said that the appetite for investments in Africa is very high and the continent's 24 bourses must be linked to take advantage of the opportunity and boost economic rise. Newton took over as the head of the continent's largest stock exchange in January this year.

Airtel’s subscribers cross 60 million mark in Africa

Airtel’s subscribers cross 60 million mark in AfricaThe number of Bharti Airtel subscribers in Africa has jumped more than 10 million in less than last 12 months to cross milestone of 60 million.

The Indian telecommunications giant said that it has now more than 60 million active subscribers in Africa, where it has operations in 17 countries.

Indian banking professionals are in great demand in GCC

Leading human resource firm GlobalHunt said in its latest survey that Indian Banking Professionals are in great demand in Africa and the United Arab Emirates (UAE).

They are required for functions such as relationship management, sales and marketing, new product launch, back and front office operations and technology support across all levels given to their business acumen and devotion toward work.

GlobalHunt India Director Sunil Goel, said,  "Many companies in Africa and UAE are trying to attract Indian banking professionals, as they can handle volumes and have seen the full life cycle of banking in India from various transactions."

Bharti, Connecting again but this time for Africa!

Bharti-AirtelBharti Airtel has started imitating the flourishing India telecom model in Africa and has even entailed in IBM to handle the calculating technology and services that influence its mobile phone network straddling 16 African nations.

The duo groups have endorsed an in-principle deal, with the agreement anticipated to be finalized by the fourth quarter. The 10-year settlement is projected to be merit of $1-1.5 billion.

Bharti Airtel choose IBM to direct mobile ops in Africa

Bharti Airtel choose IBM to direct mobile ops in AfricaBharti Airtel and IBM have connected with each other to make over the budding African mobile communications market and stimulate economic progress athwart the continent. The 10-year accord in notion will expand pioneering relationship that started in 2004. IBM will deal with IT for Bharti Airtel's 16 maneuvers in Africa.

This is a foremost of its sort transaction in Africa to facilitate Bharti Airtel to release inventive and reasonable 2G and 3G mobile services athwart the continent.

African ancestry associated with breast cancer

Breast-Cancer-AfricaThe latest finding lists out the African ancestry's association linked with triple-negative breast cancer, and supposedly considered a difficult thing to be treated.

It was further stated that the case of triple negative breast cancer, which is a high leveled risk in cancer was found to be negative for three specific markers that aid in determining the remedial issues associated such as the estrogen receptor, the progesterone receptor and HER-2/neu.

Bharti lists 3 MNCSs for outsourcing contract

Bharti lists 3 MNCSs for outsourcing contractBharti Airtel said on Friday that it has shortlisted three multinational firms and two African IT companies for its billion dollar outsourcing contract in Africa.

This information was given by two sources close to the development while talking to ET.

Amongst the MNCs the big names are that if IBM, HP and Accenture. IBM currently handles the operations of Bharti in India and Sri Lanka.

Escorts heads to Africa

EscortsThe Indian tractor maker Escorts Ltd has moved its boat towards the African continent and is planning to expand its footprint in the region. It is believed that after the company has bagged a $40 million order to supply tractors to Tanzania, it has started to take more interest in the African market.

Moreover, a top official of the company recently said that the company will be expanding its presence in the African continent in the times to come.

Indian Packaging Firm To Make Foray In African Market

Indian Packaging Firm To Make Foray In African MarketIndia's top flexible packaging company UFLEX is ready to make ambitious foray in the African market with its high-tech facility in Egypt starting production this month.

Mr. Ashok Chaturvedi, chairman and managing director of UFLEX, stated, "We have set up a manufacturing unit in Egypt for producing flexible packaging material such as polyester films which would help us to cater to African countries more efficiently. We see Africa emerging as a big market."

Jay Shree Tea Expects To Buy Another Tea Garden In Africa

Jay Shree Tea Expects To Buy Another Tea Garden In AfricaJay Shree Tea and Industries, a B.K. Birla Group company, is eyeing to get hold of a tea garden in Africa by the end of the existing financial year.

In April 2010, Jay Shree Tea had bought four gardens in Uganda and Rwanda.

Mr. D.P. Maheswari, company’s MD stated, “We expect to close the latest deal by the end of 2010-11. With all the acquisitions in place, we see our topline crossing Rs 500 crore in 2010-11.”

HIV risk in men is doubled during pregnancy

HIV risk in men is doubled during pregnancyMen doubled their risk of HIV if their partner is pregnant and infected with human immunodeficiency virus, researchers in Africa have found.

It has been reported that researchers in Botswana, Kenya, Rwanda, South Africa, Tanzania, Uganda and Zambia, led by Dr. Nelly Mugo of the University of Nairobi and Seattle's University of Washington, looked at how pregnancy may affect transmission of HIV, the virus that causes the disease condition AIDS.

Emami Plans To Make Entry In African Market

Emami Plans To Make Entry In African MarketEmami group, the country's personal care and ayurvedic medicines major, is making entry into the African market not just in their customary business lines but also in contract farming and power generation.

According to the company's director, Aditya V. Agarwal, "In Ethiopia, Emami Biotech has been allotted 100,000 acres of land by the Investment Commission. We will cultivate edible and non-edible oil seeds and cereals like gram, maize, sunflower, soya and jatropha."

Gemini Comm Buys 100% Stake In Rosy Blue Wireless, Africa

Gemini Comm Buys 100% Stake In Rosy Blue Wireless, AfricaGemini Communication announced that it has bought 100 per cent stake in Rosy Blue Wireless Africa (RBW), a telecom and internet service provider in Africa.

RBW is strongly placed to provide 4th generation wireless network infrastructure to African nations, a company report said.

The report said, "RBW, having the advantage of WiMAX spectrum, can leverage on the vast untapped market that exists in Africa in providing mobile Broadband connectivity."

Discrimination is pivoted on by the Baltimore suit

Wells-FargoThe case centers on predatory lending involving African-Americans, a lawyer helping Baltimore sue Wells Fargo & Co. in a second round of litigation said.

The Baltimore Sun reported on Wednesday that attorney John Relman said, "Ultimately, the amount of damages in this case is far less significant than whether or not a jury says, 'You're right, Wells Fargo targeted an African-American community with predatory loans and they did it for reasons of greed."

Manoj Kohli to head Bharti’s African operations

Manoj-Kohli-Bharti-AirtelAs the Bharti Group has been able to quench its thirst for an African safari by the $10.7 billion deal to acquire Kuwaiti telco Zain's African operations, Sunil Bharti Mittal has recently named its top lieutenant Manoj Kohli to head the African operations.

Kohli, CEO- International and Joint MD, Bharti Airtel will be responsible for the fate of the dreams that Mittal has been weaving from the past couple of years.

African Barrick Gold reports a weak debut as shares priced at lower end

Barrick-Gold-LogoAfrican Barrick Gold Plc, an African subsidiary of Canadian miner Barrick Gold Corp., posted a weaker than expected initial public offering as the shares were priced at the lower end of the proposed price range.

The shares of the company were priced to at 575 pence. African Barrick Gold offered 101 million shares through this IPO.

Daiichi To Spread Its Footprint In Africa, Latin America

Daiichi To Spread Its Footprint In Africa, Latin AmericaJapanese pharmaceutical company Daiichi Sankyo has framed a major business plan for the next two years under which it plans to better synergize its functioning with its Indian subsidiary Ranbaxy Laboratories and spread out in Africa as well as Latin America.

Eyeing a turnover of $3 billion for Ranbaxy Laboratories by Dec 2012, Daiici stated that its Indian division will also set up its presence as the number one player in the country's prescription medicines and pharmaceuticals market.

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