Democratic Republic of Congo: Latest News
Ryan Hoover, 11:11 am
Lucky shareholders of the 677-acre Limuru Tea plantation near Nairobi saw the value of their shares rise more than 11-fold this past decade. Rising tea prices didn’t hurt the company’s valuation, but the real impetus behind the stock’s rise is real estate. Limuru’s rolling hills are coveted by property developers. In hindsight, it seems a dreadful decade to have been invested in Kenyan stocks, yet a dozen stocks more than tripled in value. Here’s the NSE’s 10 best performers of the past 10 years.
Dana Sanchez, 5:35 pm
Mauritania had the steadiest and fastest growth in the North Africa region in 2015, supported by sound macroeconomic and structural policies, the U.N. reported. Angola showed strong GDP growth despite low oil prices as the government invested in strategic non-oil sectors such as electricity, construction and technology. Guinea and Liberia returned to positive growth following the Ebola outbreak. Most countries in Central Africa maintained relatively high growth. Mozambique and Zambia recorded the highest growth in Southern Africa.
Dana Sanchez, 6:34 pm
South Africa’s tourism industry has seen its ups and downs, and right now, it’s up, thanks in part to Chinese tourists. Tourist arrivals from China were up 93 percent in January. A fairly horrible year in 2015, SA tourism was hurt by Ebola fears over an outbreak thousands of miles away and changes in the country’s visa regulations. Tourism contributed more than agriculture to SA’s GDP in 2014.
Kevin Mwanza, 1:50 am
Embattled South African president Jacob Zuma’s political woes are getting worse in what is turning out to be the biggest test so far to his second term at the helm of Africa’s second biggest economy. On Tuesday, the country’s parliament is set to debate an impeachment motion against the president. The impending impeachment comes in the wake of two family-related incidents that are set to fuel the battle against South Africa’s third-democratically elected president.
Kevin Mwanza, 11:28 am AFKI Original
Kenyan-based Jubilee Insurance, the biggest insurance services provider in East Africa, plans to expand to the Democratic Republic of Congo, Ethiopia and undisclosed countries in West Africa, a top official said on Thursday. The insurance firm, which already operated in five African countries — Kenya, Tanzania, Uganda, Burundi and Mauritius — is seeking to expand the markets it operates in after posted good performance despite dampened activity on stock markets in the region.
Dana Sanchez, 3:10 pm
Africa’s No. 1 mobile services provider MTN has about 1 million subscribers in South Sudan and that’s shrinking. The company invested $170 million there the past two years and said it hasn’t seen a profit. It’s not the only company pulling back or pulling out of South Sudan. SABMiller said it planned to close its brewery in South Sudan due to difficulties securing foreign exchange to buy raw materials. The third biggest crude oil producer in sub-Sahara, South Sudan isn’t just losing companies. People are leaving the country in search of food.
Dana Sanchez, 3:07 pm
An estimated 90% of Africa’s mineral resources haven’t been discovered. Vast gold and diamond deposits lie waiting in remote, hidden, African locations. Enter the airship — lightweight, non polluting, low on manpower and capable of hauling huge loads. Its refurbished technology was presented as a vital asset for mining companies at the recent Mining Indaba in Cape Town. Using the slogan “No roads, No problem,” promoters emphasized airships as a revolutionary new air logistics service that leapfrogs conventional project construction methods.
Joe Kennedy, 9:50 am
While many people speak English in East Africa, there will likely be times when tourists encounter only Swahili. Knowing some Swahili is helpful, especially if you’re planning to travel around Mombasa and other coastal areas. While you don’t have to pronounce all the key phrases perfectly, just the simple effort of trying is sure to please the people you’re communicating with. Here are some helpful Swahili phrases for travelers in East Africa.
Kurt Davis Jr., 3:58 pm AFKI Original
The commodities downturn and slowing growth instill fear in some investors. But the underlying fundamentals of West Africa and Central Africa are positive. Nearly a third of adults in West Africa have a bank account. Throw in a very young population — 44% of West and Central Africa is 14 years old or younger. Mobile banking becomes a massive opportunity if you digest these demographics in the long term. The commodity decline is changing the Africa rising story. The financial services sector deserves not to be wrapped up in the anxiety.
Dana Sanchez, 2:49 pm
When U.K-based Barclays announced earlier this month it was selling its Africa business, several stakeholders’ names came up as possible buyers including South Africa’s Public Investment Corporation, Atlas Mara’s Bob Diamond and National Bank of Abu Dhabi. At age 40, Tanzania’s richest man, Mohammed Dewji, has taken on big brands in Africa, pitting his Mo Cola against Coca-Cola, and now he’s got his eye on Barclays Africa.”I’ve been wanting to buy a bank for the last four, five years,” Dewji told CNN. “I’m very interested.”
- Real Estate