Staff

  • 3 African Countries Among World’s Most Powerful Economies By 2050, Says PwC

    most powerful economies by 2050 By Staff, 1:01 am

    Emerging markets such as Nigeria, Egypt, and South Africa are expected to grow twice as fast as advanced economies as technology improves productivity. SA and Nigeria are among the few countries expected to see a marked acceleration of annual average growth over the next few decades. However, PwC warns that to support this long-term sustainable growth, the countries need to diversify their exports to ensure their growth is not dampened by global price or demand shocks.

  • Want To Travel In The Spirit Of Ubuntu? Try Local Beer And Wine

    By Staff, 8:01 am

    Traveling in the spirit of ubuntu can mean trying local African beers, wine and spirits instead of international brands, says scientist and travel expert Louise de Waal. It means you’re supporting the local economy and reducing your carbon footprint. Most African countries have their own beer brands — Tusker in Kenya, Kilimanjaro in Tanzania, Windhoek & Tafel in Namibia, and Kuche Kuche in Malawi. Try South African amarula liqueur, Malawi gin or Tanzanian Konyagi. Craft breweries are on the rise in SA, with labels like Jack Black, Darling Brew, Porcupine Quill, and Smack Republic.

  • Just 7 African Countries Imposed U.N. Sanctions Against North Korea

    U.N. sanctions against North Korea By Staff, 1:02 pm

    It may be surprising to learn that North Korea has long fostered diplomatic, economic and military relations with various African countries. These relations have thrived even after widespread international condemnation following its first nuclear test in 2006. An Africa pivot may be the only option left for the country as China -— its traditional ally — increasingly distances itself. Following North Korea’s sixth nuclear test over the weekend, the U.N. warned members to “redouble efforts” to enforce existing sanctions.

  • 10 TED Talks To Watch Before You Travel To Africa. No. 1: The Danger Of A Single Story

    TED Talks To Watch Before You Travel To Africa By Staff, 8:00 am

    Nigerian novelist Chimamanda Adichie tells a TED audience how she found her authentic cultural voice — and warns that if you hear only a single story about another person or country, you risk epic misunderstanding. For example, she says all she knew about Fide, a worker in her parents’ home, was how poor he was. When she visited his village, she saw a basket his brother had made. “It had not occurred to me that anybody in his family could actually make something,” she said. “All I had heard about them was how poor they were, so that it had become impossible for me to see them as anything else but poor. Their poverty was my single story of them.”

  • Crowdfunding In Africa: Opportunities And Challenges

    Crowdfunding in Africa By Staff, 9:40 pm

    Crowdfunding has been steadily gaining traction in Africa over the past decade. There are 57 crowdfunding platforms on the continent — most designed to serve local consumers and support projects in the host country only. Still, crowdfunding in Africa is limited compared to other regions. In 2015, the African crowdfunding market amounted to about $70 million, less than 1 percent of the global market. Investors and African entrepreneurs who use crowdfunding are operating in an unregulated space, at least in most African countries.

  • A First-Timer’s Guide To Visiting A Moroccan Hammam

    First-timer's guide to a Moroccan hammam By Staff, 8:01 am

    Lying face-down on a stone slab, nearly naked, while a stranger thrashes at you might be a fantasy for some, but not for me. Yet I willingly signed up for the jarring experience — and, truth be told, enjoyed it. Welcome to a Moroccan hammam. Traditional bathhouses are a staple of Moroccan life. Each city’s ancient medina revolves around four neighborhood requisites: a mosque, a public fountain, a bakery, and a hammam — the last frequented by residents at least once a week for a thorough scrub. There are thousands of hammams to choose from.

  • Lack Of Refining Capacity In Africa Creates Opportunity For Oil Trading Giant Vitol

    refining capacity in Africa By Staff, 12:15 pm

    Netherlands-based Vitol has been one of the big winners of the oil price crash, as the glut in supply led to arbitrage and storage opportunities. The company enjoyed one of its most profitable years in 2015, with a 15% increase in net income to $1.6B. Independent oil traders typically avoid involvement in big oil exploration projects, focusing on moving oil and fuel from where it is produced to where it is most needed. But a few have made tentative steps as it can provide an alternative source of revenue and secure source supply.

  • Ford Kuga Owners Plan Class Action Lawsuit Over SUV Fires In South Africa

    Ford Kuga owners plan class action lawsuit By Staff, 6:11 pm

    At least 39 vehicles caught fire and one person died before U.S. car manufacturer Ford agreed in January to recall the 2014 Kuga model in South Africa. For months, photos and videos made their way onto social media of Ford Kuga SUVs on fire in South Africa. The Ford Escape, sold in the U.S., is nearly identical to the Ford Kuga. Ford recalled 400,000 Escape and Mercury Mariner models due to a fuel leak before fires were reported. Some South African Ford owners want to know why they were treated differently.

  • Nigerian Capital Imports Fall To 9-Year Low Despite Rise In FDIs

    Nigerian capital imports fall By Staff, 1:01 am

    Overall, capital importation into Nigeria fell 47 percent in 2016. Foreign direct investment flows were way up but portfolio investments were way down, deterred by the recession and the currency. Nigeria in 2016 imported the bulk of its capital from Britain, the U.S. and Netherlands, with the telecoms, banking and oil sectors the main beneficiaries. Nigeria’s stock market fell 6.2 percent in 2016 while the naira lost a third of its official value against the dollar. In 2017, stocks continue to fall, down 3.1 percent so far.

  • Opinion: Africa Could Easily Be A Global Economic Powerhouse Within 10 Years

    Africa must industrialize By Staff, 12:55 pm

    To fulfill its economic potential, Africa must industrialize and it’s well suited to do so. The question is how. The economic growth experienced in recent decades has not been sustainable or inclusive. Africa’s economies must move beyond producing raw materials to build competitive manufacturing with added value. Developed countries’ experiences will help Africa avoid the pitfalls of unbridled industrialization, especially environmental damage. Africa is committed to industrialization. The process is already underway in Ethiopia, Ghana, Rwanda, and Senegal.