Business: Latest News
Kurt Davis Jr., 1:20 am AFKI Original
The Starbucks model is interesting for investors and customers within the East African context. There are other local examples of similar concepts working, such as Sugerpie Cupcakes in Kenya. Premium product for premium price at low cost is a winner in the region, but making it work is not as simple as observers may imagine, and there are numerous reasons why a premium franchise such as Starbucks may struggle to work in East Africa.
Staff, 9:20 am
Two years after it was announced, the Senegal Internet Exchange Point (SENIX) is scheduled for official launch on 29 August, according to Cheikh Bakhoum, Chairman of the Board of Directors at SENIX and Director General of Senegal’s State Information Technology Agency (ADIE). Bakhoum said the exchange point would be launched in the country’s capital city of Dakar and would bring about a revolution in the country’s telecoms ecosystem. SENIX is the result of collaboration between 23 partners.
Staff, 9:09 am
The role of Tunisia’s Agricultural Investments Promotion Agency, to promote investment in Tunisian agriculture. Neighboring Libya’s descent into unruly chaos has resulted in a marked decline in overall exports from Tunisia. Exports fell by 25 per cent during the 2016/17 season compared with the year before. “We aim to drive foreign direct investment into the sector,” confirms Rachid Belanes of APIA, “as well as into technology and trade. In Tunisia, we produce a wide variety of produce.”
Nigeria Bans Foreign Professionals Without Nigeria Certification As Move To Boost Technological AcquisitionBy Staff, 8:30 am
The Federal Executive Council, FEC, approved a new policy that for any foreign professionals to practice in Nigeria, they have to be registered and certified. This is as the Federal Government has declared a state of emergency on science and technology to boost technological acquisition for the industrial growth of the country. To attract foreign industries, the Federal Executive Council has approved tax rebate which will serve as an incentive for pioneer industries operating in Nigeria.
Staff, 9:19 am
The Nigerian startup space is developing at speed, and stands a good chance of being the continent’s leader in the next few years when it comes to the amount of funding raised. According to the annual African Tech Startups Funding Report produced by Disrupt Africa, Nigerian startups are the second most backed on the continent, while a recent survey by VC4Africa placed the country first. It is certainly getting easier to raise funding as a Nigerian startup as opposed to, say, five years ago.
Staff, 8:45 am
The cutting edge of drone delivery isn’t one of the usual technology hotspots, such as Singapore or the United States. The honor belongs to East Africa. A second East African nation announced it will launch a fully automated drone delivery program. The drones will fly themselves, far from the view of humans — a move that’s not yet legal in the U.S. While plenty of countries have dabbled in drone delivery, no program has matched the scale and impact of what’s unfolding in Rwanda and Tanzania.
Peter Pedroncelli, 3:47 am AFKI Original
The Johannesburg Stock Exchange has seen a mixed bag of success and failure for tech stocks over the last year, with some companies managing to provide positive returns for investors while others fell out of favor and lost value. Nine tech stocks in particular did well over the course of the year. While big names such as MTN, Telkom and Blue Label Telecoms lost value over the period, tech stocks such as Vodacom and Naspers grew their valuations on the JSE.
Peter Pedroncelli, 2:36 am
African e-commerce platform MallforAfrica and global market leader eBay have announced a development that builds on their existing partnership to enable the sale of African handmade goods into the U.S.. MallforAfrica and eBay will now provide Africans in Nigeria, Kenya, Ghana, South Africa, and Rwanda with a new platform to sell their unique artisan products into the U.S.
Peter Pedroncelli, 6:50 am
Nigeria has been ranked as the third most affected country in the world for cybercrime, with the West African nation only surpassed by the U.S. and the United Kingdom. The news of Nigeria’s struggle against online crime was revealed by the Nigerian Communications Commission, with the organization’s chief executive officer, Umar Danbatta, mentioning that Nigerians are hardest hit after the Americans and British in first and second place respectively.
Peter Pedroncelli, 5:53 am
Renewable energy firm, GreenWish Partners, which is run by former Morgan Stanley executive Charlotte Aubin-Kalaidjian, has announced plans to invest $800 million on solar-powered telecommunications towers to be built throughout Africa. GreenWish will partner with telecoms provider Orange to implement hybrid telecommunication tower systems that are completely off-grid thanks to the combination of a solar panel, a battery and a diesel generator.
- Real Estate