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Senegal promotes African female entrepreneurs.

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Africa has the highest number of women entrepreneurs but they face more hurdles on the way to business success than their male counterparts.

Maty Ndiaye a Senegalese businesswoman founded Kaya, a shop in Dakar selling clothes, toys and products for children.

But the business stalled when she needed funding to grow and Ndiaye was forced to shut down her store due to lack of capital.

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Like many entrepreneurs on the continent, access to resources and opportunities are limited, and even more so for women.

“I wanted to borrow 5 million with a micro financing body and they asked me to bring the 5 million, to put it in an account as a guarantee and afterwards they would lend me 5 million. I found that outrageous. So it’s really hard when we want to develop our business and we need money to inject in the business, it’s really hard to get access to that type of financing,” she said.

However, a new networking initiative founded by French businesswoman, Aude De Thui is determined to change that.

Women In Africa (WIA) is an organisation that aims to support and fund businesses led or managed by African women.

The group recently held its first regional Summit in Dakar, bringing together over 180 women entrepreneurs from 15 different countries.

WIA recently held a Women’s Forum in Senegal, with specific focus on the challenges and solutions faced by African female entrepreneurs like Ndiaye.

“Women suffer today because they don’t get enough support, enough guardiance and they don’t have access to financing. And women forums are often about well-being or personal themes.

I participate in economic summits because I want to put women back in the economy and give them a voice because they inspire trust and also because the world needs to focus on Africa,” De Thui said.

Speakers and experts were also on hand to give master classes and share their business experiences, as well as putting women in touch with investors and helping them pitch their ideas.

“By participating in this forum it has allowed me to believe in myself more but in particular to believe in the woman that I can become, like these women leaders that I have met and with whom I took a lot of pleasure talking to and exchanging with,” said 17-year-old Fatou Khouleh Wade, who dreams of being a railroad engineer.

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Business

Qatar to withdraw from OPEC come January 2019

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The Gulf nation’s Energy Minister Saad Sherida al-Kaabi has confirmed that Qatar is set to withdraw from the Organization of the Petroleum Exporting Countries (OPEC),



The decision to quit the bloc of 15 oil-producing countries that account for a significant percentage of the world’s oil production was confirmed by Qatar Petroleum, the state oil company, on Monday.

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Al-Kaabi stated their goal when speaking at a news conference in the capital Doha “The withdrawal decision reflects Qatar’s desire to focus its efforts on plans to develop and increase its natural gas production from 77 million tonnes per year to 110 million tonnes in the coming years.”

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Qatar is the first Gulf country to leave the bloc of oil-producing countries.

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Trump says China agree to mitigate tariffs on US cars after trade war ceasefire

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Chinese President Xi Jinping has agreed to cut tariffs below the 40 percent level currently in place on US-made vehicles after the two countries had talks in Argentina.



Trump confirmed the situation on his tweeter handle stating that: “China has agreed to mitigate and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%”.

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During the meeting in Buenos Aires, the US agreed not to increase tariffs on January 1, as had been planned, while China agreed to immediately buy more agricultural products from US farmers.

If no broader deal is reached within 90 days, the US said it would hike tariffs on $200bn of Chinese goods from 10 to 25 percent.

US Trade Representative Robert Lighthizer said last week that he was examining all available tools to raise US tariffs on Chinese vehicles to the 40 percent level that China was charging on US-made vehicles.

A source reports that the Chinese state media on Monday cautiously welcomed the trade war truce on Monday, without mentioning the US January 1 deadline.

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Asian stock markets opened higher on Monday in the wake of the truce, with Tokyo rising by one percent and Hong Kong and Shanghai rising by more than two percent.

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