Finance

PureProfile study indicates bright future for African entrepreneurs

AdobeStock 352346912According to research conducted by independent research company PureProfile, African business leaders are expecting the entrepreneurial spirit to take off across the continent over the next three years

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Panasonic announces FY22 business strategy for Middle East and Africa

PMAAF Convention 2022Panasonic Marketing Middle East & Africa (PMMAF) restated its commitment to MEA market expansion and consumer well-being at its regional convention, held in Dubai, that unveiled the brand’s new global motto - “Live Your Best”


The new slogan embodies Panasonic’s commitment to providing solutions that make life simpler, safer, healthier, and more enjoyable for the customers helping them to live their best.

0M eanwhile, the brand will focus on expanding its regional market share to cater to the evolving customer demands with solutions that make homes, public premises, and businesses a healthy and convenient ecosystem. The convention attended by over 190 business associates from over 24 countries and media, laid down the brand’s plans for the new financial year and shared the business highlights for the year 2021. 

Aligned with the brand’s new commitment, the event was themed “Wellbeing for Life” focused on bringing a sense of balance and wellbeing to everyone’s lives by bestowing enhanced health and hygiene. Panasonic plans to introduce a lineup of 64 new products to support this mission in 2022.

Some of the new unique products with superior technologies and Japanese excellence were spotlighted at the event. Key highlights amongst many were the Nanoe-X Air conditioners which can inhibit pathogenic microorganisms (bacteria, fungi, and viruses) and allergens. The ACs will not only cool and heat the surroundings but also clean the indoor air, offering 24-hour protection to keep living spaces fresh and clean, so consumers can benefit from a healthier life.

Another innovative clean air solution is ziainoTM that uses high degree of sterilizing and deodorizing power of sodium hypochlorite to effectively sanitize the environment. Ideal for the hygiene of different venues, including restaurants, hotels, hospitals, clinics, laboratories, elderly hostels, schools, offices, pet shops, fitness centres and shopping malls.

New Abaya Wash washing machines were positioned as distinctive hygiene systems that protect families by eliminating 99.99% of bacteria from the clothes while washing. 

The brand also emphasised on nutrition and food hygiene through its latest “Nutri TaFreez” refrigerator series that feature speedy freezing technology specifically for preserving nutrients of meats stored in the freezer. To further support health and wellbeing, Panasonic encourages home cooking for its consumers by introducing new kitchen appliances line up such as kitchen machine, bread maker and more appliances that enrich cooking experience.

Hiroyuki Shibutani, managing director, PMMAF, said, “At Panasonic, we are determined to make contributions to improving everyday life with solutions that make life simpler and more convenient with products that cater to a changing society. With more and more people giving importance to health, hygiene and wellbeing, as we come out of the pandemic, we are committed to becoming a brand that provides the solutions that satisfy this demand. We aim to transform into a brand that stays close to its customers and is supported by society through taking action against the issues they face both today and in the future.”

“One of the ways we are doing this is by conveying our purpose of "achieving an ideal society with affluence both in matter and mind," which was set forth by our founder Konosuke Matsushita. Hence, we have adopted “Live Your Best”, as our brand slogan which expresses this exact purpose.” he added. 

Shibutani also reiterated the brand’s commitment to the region and commented, “Over the years Middle East region has witnessed sustained growth across industries. Riding along with this dynamically growing market we aim to align our strategies and offer the widest product portfolio in both consumer and business segments to cater to regional demands. To rejuvenate our brand, we will launch focused marketing campaigns.”

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ECOWAS to bat for improved regional stability

ECOWAS meetEconomic Community of West African States (ECOWAS) and its member states’ ambassadors are mulling to chart a way forward for regional stability, peace and security

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African Development Bank Group chief visions strong global support for Africa

AFDB 9 may African Development Bank Group president Dr Akinwumi Adesina has garnered strong support for a robust 16th replenishment of the African Development Fund, the Bank Group’s concessionary lending arm that supports Africa’s low-income economies


Adesina concluded a three-day official visit to Washington DC. Alongside the spring meetings of the International Monetary Fund and World Bank, the visit included several bilateral engagements with stakeholders on African development.

Replenishment efforts continue through October, when partners are expected to make their pledges.

During bilateral meetings, United States assistant treasury secretary, Alexia Latortue, said, the African Development Fund was critical to Africa’s the development landscape. She assured the bank president that the US remains a strong and proud supporter of the Fund, which has strategic focus and delivers impact. Latortue applauded the leadership of Dr Adesina in developing the bank’s bold African emergency food production plan to avert the looming food crisis due to the Russian war in Ukraine and assured of the strong partnership of the US Treasury Department on the plan.

Adesina highlighted the bank’s innovative Technologies for African Agricultural Transformation (TAAT), a programme operating across nine food commodities in more than 30 African countries. He said the bank will mitigate the effects of the food crisis through an African Food Crisis Response and Emergency Facility – a dedicated facility that will provide African countries with resources needed to raise local food production and procure fertiliser.

According to Adesina, a fertiliser crisis borne out of the Russian war in Ukraine could put more than US$10bn of food production at risk. He said a bank-initiated meeting of key global development, finance, public and private sector leaders is scheduled for mid-May to tackle the access to fertilisers for Africa.

Adesina was received at the White House by Dana Banks, special assistant to US president Joseph Biden and senior director for Africa at the White House. Banks said it is important to mitigate the spill-over of the Russian war in Ukraine on food security Africa and strongly welcomed the leadership of the African Development bank on its emergency food production plan for Africa.

Adesina also met with Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation. French Gates said it is important for Africa to feed itself and focus on nutrition. French Gates expressed strong support for the bold African emergency food production plan developed by the African Development Bank; and she called for a strong replenishment of the African Development Fund. “I will be your strong advocate for G7 countries to do more for the African Development Fund and to put in more resources for Africa”, she said.

A meeting of heads of regional multilateral development banks was held to discuss, among others, the impact the Russian war in Ukraine was having on development across the world. Adesina spoke about its direct impact on food and fertiliser supplies in Africa. He also emphasised the bank’s climate change collaboration with the global center on adaptation, as well as the bank's record-breaking 83% investment portfolio in renewable energy.

Adesina and several multilateral development bank heads agreed there was a need for a common voice on the re-channeling of the international monetary fund’s special drawing rights.

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AfDB Group vice-presidents and director general on official visit to Botswana and Zimbabwe

atr2A senior leadership team from the African Development Bank Group (AfDB) has arrived in the southern African capital Gaborone, on the first leg of an official visit to Botswana and Zimbabwe

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