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News About Africa and SEA

Tolaram's free zone invites S'pore firms to invest in Africa

May 27, 2021 | The Straits Times

If not for the fact that it is building West Africa's largest deep water port and free trade zone, Tolaram Group would be best known as the company which taught Africans how to savour instant noodles.

Today, the Singapore-based group, whose annual turnover tops US$1.2 billion (S$1.6 billion), is one of Africa's largest conglomerates.

China-Africa trade increases 26.9% in first quarter

May 17, 2021 | SeaNews

TRADE between China and Africa rose by 26.9 per cent in the first quarter year on year, reports Hong Kong's South China Morning Post.


Two-way China-Africa trade totalled US$52.1 billion in the first three months of the year as most economies eased trade and travel restrictions that had been imposed to curb the spread of the virus


Singapore, Thailand link real-time payment rails for faster, cheaper cross-border transfers

Apr 29, 2021 | The Business Times 

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) on Thursday announced the first cross-border payments infrastructure to be established globally with the linkage of Singapore's PayNow and Thailand's PromptPay.

Monetary Authority of Singapore (MAS) and Bank of Ghana (BOG) adopt the Business sans Borders (BSB) and the Financial Trust Corridor (FTC)


Dec 8, 2020 | Monetary Authority of Singapore

The MAS and the BOG have commenced discussions to adopt the BSB open hub of platforms between Singapore and Ghana. These discussions on close cooperation will benefit the small and medium-sized enterprises (SMEs) and micro-SMEs (MSMEs) in both countries by expanding their connectivity with their counterpart economy, while introducing innovative FinTech and digital tools to help each SME seamlessly complete its regular business needs. 


Business opportunities aplenty in Africa: SBF

Jan 12 , 2021 | The Business Times 

Singapore Business Federation's (SBF) African Business Group encourages Singapore companies to do business in Africa. Ranveer Chauhan, Chairman of SBF, mentioned that "(Africa) is a big market - 54 countries, a population of more than one billion, a more than US$3 trillion economy. (There is) a multitude of opportunities."

Currently, there are more than 60 Singapore-headquartered companies, such as Pacific International Lines (PTE) Ltd and Olam International, doing business in more than 40 markets in Africa.


SM Tharman Shanmugaratnam to visit Côte d'Ivoire and Ghana from 3 to 7 November 2019

Nov 9, 2019 | From The Prime Minister's Office

Senior Minister (SM) Tharman Shanmugaratnam will make working visits to Côte d’Ivoire from 3 to 5 November and Ghana from 5 to 7 November. He will meet government leaders in both countries to promote bilateral cooperation, and will be accompanied by a business delegation.


Naspers-Backed Crypto Platform Luno Starts African Hiring Spree

June 22, 2019 | By Roxanne Henderson, Bloomberg

Naspers Ltd -backed cryptocurrency platform Luno is planning to increase its workforce by almost 60% to expand its South African headquarters as Bitcoin once again breaches $10,000.

1.2 billion reasons Singapore tech firms think Africa is next big thing

Jun 7, 2019 | By Cybil Huichen Chou, SCMP

Africa has become the new frontier for Singapore’s start-up movement as more technology and venture capitalist firms eye the continent’s largely untapped market for the next wave of growth, despite the challenges it presents, experts say.

Three Charts That Explain Boom in Southeast Asia's Net Economy

Nov 19, 2018 | By Yoolim Lee, Bloomberg

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.

What is China' contribution to the industrialisation of the Mediterranean and Africa?

Nov 1, 2018

Interview with Mr Paulo Gomes, Chairman of Advisory Board Africa Southeast Asia Chamber of Commerce, by The Mediterranean world Economic Foresight Institute (L’Institut de Prospective Economique du Monde Méditerranéen – IPEMED)


Singtel to invest US$250m in Airtel Africa; funding round includes Temasek, Warburg Pincus, Softbank

Oct 24, 2018 |By Wong Kai Yi, The Business Times

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.

Singapore fintech firms joining the dots in Africa's digital frontier

Aug 17, 2018 | By Annabeth Leow, The Business Times

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.

Petronas makes an entry into Senegal

Aug 13, 2018 | By New Straits Times

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.

Malaysia – Africa’s Silent Partner

Aug 6, 2018 | By Tim Steinecke, The Diplomat

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.

Singapore firms should add Africa’s e-commerce opportunity to their carts

Jun 19, 2018 | By Faridah Mohd Saad, TODAY Online

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 region

Jun 16, 2018 | By The Straits Times

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.

Olusegun Obasanjo, Akinwunmi Adesina, Paul Kagame and over 20 other influencers to speak at the 24th Afrexim Bank AGM.

Jun 20, 2017 | By Fumnanya Agbugah, Ventures Africa

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.

Africa's Singapore: Finding Singapore

Feb 11, 2017 | From Channel News Asia

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.

S'pore inks three deals with African nations

Aug 25, 2016 | By Lee U-Wen, The Business Times

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 potential

Aug 25, 2016 | By The Straits Times

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 Tharman

Aug 25, 2016 | By Lee U-Wen, The Business Times

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 | By Bernama, New Straits Times

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 Insider

Oct 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 Africa

Sep 30, 2015 | By Robert MacPherson

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 Singapore

Jul 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.