Angola: Latest News
Kurt Davis Jr., 10:48 am AFKI Original
Spending on gas projects in 2015 surpassed spending on oil for the first time in North Africa. The serendipitous discovery of gas in sub-Saharan Africa is bewildering to many investors. Discovering gas while searching for oil is like finding gold outside your door when you need cash. The question is how to turn the gold into cash. North Africa could be providing the near-term strategy for sub-Saharan Africa.
Dana Sanchez, 1:03 pm
Copper-rich Democratic Republic of Congo is vying with Zambia to be Africa’s top producer. A new hydropower facility that the DRC government is planning to build could help shape Africa this century. It is one of DRC’s strategies for providing the energy it needs to free its economy. These aren’t the largest or most developed countries in Africa. Some are plagued with corruption and inequality. All have fast-growing economies.
Staff, 4:08 pm
Johannesburg hackers say the language of law is so complicated that many SA citizens do not realize how it should protect them. They’re working on a website that will help people quickly find parts of the constitution relevant to them. Many are familiar with the African hacker cliché revolving around a badly written email from someone claiming to be a friend. The reality is more nuanced. Gaps in basic infrastructure have created the perfect hacking environment, says tech expert Ethan Zuckerman.
Kevin Mwanza, 2:45 am
Isabel dos Santos, the billionaire daughter of Angola’s authoritarian president and the newly appointed Sonangol boss, has cancelled a $1.8 billion deal to buyout US-based Cobalt International Energy stake in two local oil blocks. Isabel’s decision to pull Sonangol out of the deal reached last year, delays what the US group had hoped would be the final act of its eventful foray in one of Africa’s largest oil producing nations
Julia Austin, 2:21 pm AFKI Original
A former member of the South African police force noticed a gap in high-level security for the private sector, and he capitalized on it. Chris Beukes’s TSU Protection Services has grown from a single office in Cape Town to a multinational business in at least 14 countries. Clients have a mobile app as extra protection when trained professionals aren’t at their side. A quick shake of a cell phone alerts TSU to danger, and sends out video surveillance.
Julia Austin, 7:08 am AFKI Original
Flaviana Matata, 29, won the first-ever Miss Universe Tanzania in 2007 and since then has modeled for Topshop, Diesel, and Kiko Cosmetics. Matata has walked the runway for Vivienne Westwood and Next Models London, and is signed at top New York modeling agency Wilhelmina in New York. The international fashion industry craves diversity in advertising, and African models are rising.
Kurt Davis Jr., 9:29 pm AFKI Original
Mozambique, the economic darling of 2014 and 2015, is facing a perfect storm of problems — some self created. Political tensions are at their highest since the lead-up to the October 2014 presidential election. Sporadic attacks on road transport and other infrastructure in central Mozambique have fueled growing fears of instability. This has influenced international decision makers and weighed heavily on foreign investment. The government may not be to blame for everything, but frustration with the country’s debt is definitely a government problem.
Julia Austin, 5:31 pm AFKI Original
In some of the busiest African cities, a monthly bus pass or taxi fare can be a major expense, eating up nearly 20 percent of personal income. A monthly bus pass in Nigeria costs just shy of $40 and a single five-mile taxi trip costs around $9. Taking the bus into Lagos is noticeably more expensive than taking the bus out of the city. Tickets leaving Lagos can range between $13 to $26, but tickets into Lagos range between $17 and $45.
Kurt Davis Jr., 3:52 pm AFKI Original
Her quick rise to the top cracks the glass ceiling of Africa’s male-dominated business world. Critics say she’s privileged, but what about the Bushes, Clintons and Kennedys? She’s accused of pilfering state funds but the movement of money between family members does not establish corruption in the system. Funds may be owed. If allegations of money laundering are confirmed, particularly within Sonangol, analysts will change their views on Isabel.
Kevin Mwanza, 6:08 am
And with this growth came a construction frenzy as old building built by the Portuguese during the colonial era got razed down and replaced with modern skyscrapers and five-star hotels that earned Luanda the name ‘Africa’s Dubai’. For years, Luanda has been effervescent with new constructions, where Chinese laborers worked night and day to give the city a new look. That was until the oil money started drying up in late 2014.
- Real Estate