Angola: Latest News
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.
Staff, 5:06 pm
Botswana has not always supported the African Union on critical issues such as the International Criminal Court, and experts believe it lacks the goodwill needed to support its candidate. South Africa’s A.U. opinions appear closer to Equatorial Guinea’s than Botswana’s on issues such as the politics in Burundi and the ICC’s relations with Africa. The need to give voice within the A.U. to the continent’s historically marginalized regions could push Equatorial Guinea’s candidate to the top. The A.U. faces many challenges including its dependence on foreign aid for its financing.
Julia Austin, 2:18 pm AFKI Original
San Francisco-based Zoosk has a presence in most African countries, and ranks high in popularity in the large cities targeted by online dating apps. The app ranks No. 7 in Egypt as the highest-grossing app on iPad, No. 4 in Algeria, No. 3 in Kenya, and No. 2 in South Africa. Zoosk’s co-founders met as undergrads at a tech university in Iran and traveled to the U.S. to attend grad school.
Dana Sanchez, 12:52 pm
The top three investor economies to Africa in 2015 were the U.S., ($66 billion), the U.K. ($64 billion), and France ($52 billion), according to a new U.N. report. China’s investment in Africa more than tripled to $32 billion in 2015, making it the fourth-largest investor on the continent. South Africa was the fifth largest investor in Africa at $26 billion. Investment into Africa overall was down 7 percent and South Africa was one of the biggest losers.
Peter Pedroncelli, 8:54 am AFKI Original
With 15 players of African heritage having earned the right to play in Euro 2016 final on Sunday, we take a look at each of them and which African country they could be representing if they had not decided on their European national teams, France and Portugal.
Kevin Mwanza, 7:26 am
BMW South Africa has announced plans to expand to seven African countries in the next three to four years in a “structured” approach that will create a ready market for Rosslyn assembly plant in Pretoria. Speaking after BMW Germany announced that the South African unit would take responsibility for distribution and marketing activities across the sub-Saharan region, CEO Tim Abbott said the automaker would initially concentrate on entering Nigeria, Senegal, Ivory Coast, Togo, Ghana, Kenya and Angola.
Keren Mikva, 4:50 pm
It’s the fourth-longest river in Africa, and vital to the economies of countries it runs through. The fertile Zambezi river basin plays host to a vast variety of wildlife, including crocodiles, lions, and hundreds of bird species. While some species are protected, hunting safaris are common. But areas once considered protected are also being exploited for mining. Australian-owned company Zambezi Resources received a 25-year license to mine for copper in the Lower Zambezi National Park.
Kevin Mwanza, 9:02 am
South Africa’s state-owned Strategic Fuel Fund (SFF) announced on Wednesday it had offered to buy Chevron’s 110,000 barrel a day refinery in Cape Town, its fuel stations in the country and other downstream assets in neighboring countries. The US oil major company, which started selling-down its assets in Africa in 2014 in a three-year asset sale program,said in January it planned to sell 75 percent of its South African business unit, which it estimated could fetch about $1 billion
Kevin Mwanza, 8:28 am
Kenya expects to issue it second Eurobond at much lower than larger African economies that rely on oil export, the East Africa’s minister of finance told Bloomberg. Henry Rotich, together with other senior government officials, took a non-deal roadshow in April to meet investors in the US and UK to gauge investor sentiment on a planned 15- and 20-year Eurobond to be issued later this year. The East Africa’s largest economy is looking for funds to fill a 9.3 percent budget deficit,
Staff, 6:10 am
Angola is tapping international lenders for roughly $1 billion of new loans, including one for food and medicine, as Africa’s biggest oil producer tries to cope with the fall in global crude-oil prices. Goldman Sachs Group Inc. is arranging a syndicated loan that is partly guaranteed by the World Bank, while London investment firm Gemcorp Capital LLP is separately providing dollar financing to the country to import food, medicine and other necessities, people familiar with the loans said this week.
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