Democratic Republic of Congo: Latest News
Dana Sanchez, 3:29 pm
As of 2016, Mauritius has the highest per capita GDP in Africa, with 5.7 percent growth predicted in 2016-2017. Its stock exchange is widely regarded as one of the best in Africa for a country of 1.2 million. There’s an entire business strategy known as “the Mauritius Route” used by investors as a conduit to connect them to Indian markets. In fact, 39.6 percent of foreign direct investment to India between 2001 and 2011 made its way via Mauritius. However, this money does not pass through Mauritius in a vacuum.
Dana Sanchez, 6:02 pm
Intra-African trade is a key driver for economic growth, and represents just a fraction of Africa’s total trade in the past decade — mainly because of the growing shortfall in infrastructure development, said Mara Group Founder, Ashish Thakkar. The venture unites three businesses committed to Africa with infrastructure expertise, said Jay Ireland, CEO of GE Africa.
Dana Sanchez, 2:38 pm
In the last five years, fishing grounds have been the site of intensifying border disputes between Uganda and DRC. Each side has detained soldiers and security officers from the other. This is the first fatal exchange between security officers. The two countries share a border on Lake Albert that is not clearly marked. A DRC spokesman said the exchange of fire between the forces of two friendly countries was regrettable. Uganda is calling it an ambush. Major oil reserves have been found in the Lake Albert basin — possibly the largest onshore oil field in sub-Sahara.
Kevin Mwanza, 10:42 am
The Chinese government has signed a deal with Sudan, an African country with questionable human rights history, to help it build a nuclear power plant for “peaceful use”, Xinhua reported on Tuesday. This will be the first nuclear energy station for Sudan that could help the North-Eastern African nation meet its growing energy need, while China steps towards increasing its technological footprint on the continent.
Kevin Mwanza, 4:38 am
A majority of Africa’s most powerful militaries ranked by the latest report by Global Fire Power (GFP) are from the northern part of the continent indicating increased spending in the region after the Arab Spring of 2011. The report shows that six out of the top 12 countries on the continent surveyed are from North Africa. Egypt and Algeria maintained their position at the top the chart of 30 African countries included in the index.
Dana Sanchez, 11:31 am
SA authorities pursued nine Chinese fishing vessels over the weekend in marine protected waters, detained one, then on Monday welcomed a Chinese destroyer to the Simon’s Town naval base for a friendly four-day visit. “It is going to be interesting to see how this is explained away,” said an online commentator. The Chinese fishing fleet makes headlines in many parts of the world. Their activities are designed to stay below the threshold of conflict, but gradually assert claims that other countries dispute, said a U.S. defense official.
Lillian Mutiso, 5:41 am AFKI Original
African economies have experienced high growth in recent years as the continent continues to attract investors due to its vast natural resources. Infrastructural and technological developments have also opened up the continent to the rest of the world. Despite a recent slowdown in some economies, including Nigeria and South Africa, due to a commodities price slump globally, African countries are still among the fastest growing economies in the world in 2016.
Kevin Mwanza, 8:40 am
China has pledged to finance the Tanzania-Zambia Railways (Tazara) and extend it to four other countries. Official from the three governments are meeting in Dar es Salaam to put together details of the plan whose proposal include reducing the bloated Tazara workforce. The plan will include renovating the 1,860 kilometres track and linking Tazara to Tanzania’s new Bagamoyo port and to Malawi, the Democratic Republic of Congo, Rwanda and Burundi.
Dana Sanchez, 5:03 pm
South Africa already had a thriving money transfer market when Vodacom introduced M-Pesa there. About 75 percent of South Africans have financial inclusion in traditional banks. Vodacom is shutting down M-Pesa in South Africa, but is still operating in Kenya, Tanzania, Lesotho, Mozambique and DRC. “Since the day of the launch in 2010 in South Africa, I’ve questioned the viability of it in this country because of the fact that the success factors for M-Pesa in Kenya were not present in South Africa,” an expert said.
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.
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