Angola: Latest News
Dana Sanchez, 9:40 am
At a time when few other firms are investing in South African mining, De Beers’ $2 billion investment in its Venetia diamond mine has been described as “stupendous.” The company is betting its investment will pay off as diamonds get harder to find in open pits near the Earth’s surface. Global diamond prices have fluctuated wildly the last 8 years. De Beers in 2015 sold two mines in Canada and Botswana.
Staff, 4:27 am
Global music sales rose by 3.2% in 2015, and income from streaming now accounts for 43% of digital revenue, according to a new IFPI report. Emerging markets in Africa, in particular, are becoming more profitable. UK-based record company Beggars Group, for example, reports that 20% of its revenue comes from emerging markets. It is now licensing music for the first time in Nigeria, Uganda and Angola.
Staff, 9:33 am
Angola is battling a yellow fever outbreak amid a global shortage of the vaccine. Cases have also been reported in the Democratic Republic of Congo, Kenya, Uganda and China. Health experts worry about further spread. There is no treatment. Mass immunization is the only way to stop yellow fever, but producing more of the vaccine is not easy. The Institut Pasteur de Dakar is one of four places in the world that make the yellow fever vaccine.
Kevin Mwanza, 4:02 am
Global credit rating agency Moody’s downgraded Africa’s two largest oil producers, Nigeria and Angola, as it cut ratings on four African economies over the impact of lower oil prices on the international market. Moody’s said it was concerned over the impact depressed oil prices have on the liquidity, balance sheet and credit worthiness of Nigeria, Angola, Gabon and the Democratic republic of Congo (DRC).
Peter Pedroncelli, 9:00 am AFKI Original
Africa loves the beautiful game, and the popularity of soccer has created fertile ground for brands to provide funds in the form of sponsorship deals to be associated with the various competitions taking place around the continent. These brands sponsor African soccer and provide funding to take the game forward. We take a look at 8 big brands that are involved in sponsorship of soccer on the African continent.
Kurt Davis Jr., 8:45 am AFKI Original
South African commodities will likely feel more pain in the second half of 2016. Some argue that a potential sale of Barclays Africa is influenced by the significant drop in its value relative to the rand and the subsequent effect on the JSE. Customers in Africa, at the end of the day, all want better access to financial services. Banks must be efficient, competitive and reduce cost to retail customers in mature and immature markets. That would benefit the entire continent, not simply Southern Africa.
Dana Sanchez, 12:04 am
What makes one an expat? The term embodies a double standard, according to one source. Many African governments have made it difficult for companies to get work permits for expats, hoping instead to fill executive positions locally. One alternative for multinational companies is to recruit Africans returning from the diaspora. This aligns with the push in most African countries for indigenisation – a policy to use local people to fill senior positions rather than going expat.
Staff, 5:15 am
The first quarter of 2016 has proven to be difficult with few bright spots across sub-Saharan Africa economies. According to Africa’s Pulse, the World Bank’s twice-yearly analysis of economic trends and the latest data for the region, economic activity in Sub-Saharan Africa slowed in 2015 to its lowest rates since 2009 with GDP growth averaging only 3.0%, down from 4.5% in 2014. The plunge in oil prices and other commodities is the primary reason for the economic downturn.
Julia Austin, 10:35 am AFKI Original
French-Tunisian graffiti artist el Seed uses Arabic calligraphy and has been featured on the Ted Talks blog for the art form he named calligraffiti. Cities around the world have commissioned el Seed to paint his murals on their walls — murals that inspire hope and unity. He often includes famous quotes in his work. Artists can reshape the way the world sees a place — and its people. Here are 8 young African entrepreneurs rebranding the continent.
Kevin Mwanza, 10:17 am
An outbreak of yellow fever that started in Angola in December has spread to at least 16 other countries threatening to hurt travel business in Africa the way the Ebola virus in West Africa did a few years ago. This is the worst yellow fever outbreak recorded in over 30 years and has already killed 238 people and affected thousands others in several countries in sub-Saharan Africa, including Angola, Uganda, Rwanda and the Democratic Republic of Congo
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