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Funding Challenges Undermine SMEs Growth in Africa

Emma Okonji Analysts who spoke at a recent webinar organised by the American Business Council in Nigeria, in collaboration with US Chamber of Commerce, Amcham Ghana and Amcham South Africa on the US-Africa relations, have identified lack of adequate funding as a major challenge to the growth of Small and Medium Enterprises (SMEs) in Africa. The analysts were of the view that SMEs across Africa are faced with serious funding challenges, despite their importance to national development. Citing the case of Nigeria, the analysts said: “Despite the significant contribution of SMEs to the Nigerian economy, challenges still persist that hinder the growth and development of the sector. In Nigeria, SMEs contribute 48 per cent of national GDP, and account for 96 per cent of businesses and 84 per cent of employment.”

Investing in China: From Smart Phones to Smart Investments

July 28, 2021 Did you know China’s equity-listed ETFs have seen $5.3 billion of inflow year to date? China is undergoing rapid urbanization and shifting toward a consumer-based economy, creating several investing ideas for the advisors looking in the right places. Yet how can investors in the United States seamlessly access this growing opportunity set? In the upcoming webcast, Investing in China: From Smart Phones to Smart Investments, Brendan Ahern, Chief Investment Officer, KraneShares, will discuss how companies and investors are benefiting from the $7 trillion of annual spending by China’s urban middle class. For instance, investors can look to the KraneShares CSI China Internet ETF (KWEB). KWEB seeks to provide investment results that generally correspond to the price and yield performance of a specific foreign equity securities benchmark, the CSI Overseas China Internet Index. The index includes an investable universe of publicly traded China-based companies whose

Addressing Unemployment in the Niger Delta

Addressing Unemployment in the Niger Delta
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Q2: Nigeria s Capital Importation Falls to $875 6m as foreign reserve plunges

Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy. Nigeria has recorded a quarter-on-quarter decline of 54.06 per cent in the total value of capital importation into the country in the second quarter of 2021, the National Bureau of Statistics (NBS) has revealed. In a report released by the agency, it was disclosed that the FX inflows from April to June 2021 stood at $875.6 million in contrast to $1.9 billion recorded in the first quarter of this year. On a year-on-year basis, the capital importation went down by 32.38 per cent as the inflows in the same period of last year was $1.3 billion.

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