Democratic Republic of Congo: Latest News
Staff, 4:45 am
Many innovations in Africa fail to materialize due to of lack of knowledge about registering intellectual property. Resident applications for patents are low in African countries. In 2014, there were 132 patent applications in Kenya, 14 in Zambia and five in Rwanda compared to over 280,000 in the U.S. and 19,000 in the U.K. The registration of copyright in many African countries has not taken off and this data is not taken into account in economic surveys. Microsoft’a online IP registration system replaces traditional paper-based forms.
Kevin Mwanza, 8:17 am
Uganda will build East Africa’s first ever gold refinery by the end of this year after Africa Gold Refinery Limited (AGRL), a local mining company, announced plans to set up the plant in Entebbe, south of the capital Kampala. The refinery will cost $20 million to build and will have a production capacity of one ton of pure gold per month. It will be supported by Tony Goetz & Sons N.V., a Belgium investor.
Kurt Davis Jr., 3:21 pm AFKI Original
Fund managers have struggled in 2016 to raise capital for sub-Saharan Africa-focused natural resource funds. Here’s where having a $1 billion sub-Saharan Africa natural resources fund really helps. In 2017, expect more assets on the market at more reasonable prices. The focus will be on capital management. Expect a buyer’s market. Low M&A value will persist but expect a recovery in volume of deals. Transaction structures will become more complicated. Expect contingencies as buyers and sellers attempt to manage exposure to commodity price volatility.
Dana Sanchez, 9:28 pm AFKI Original
Greg Valerio has come a long way since he dropped out of high school. He spent most of his career developing supply chains with artisinal miners in Africa for Fairtrade gold. “I can sell you a wedding ring that I can trace from mine to retail,” he told AFKInsider. This makes Valerio a pioneer. He’s also a businessman, about to launch his line of ethically mined jewelry in the U.S. Forget corporate social responsibility. “It doesn’t work in jewelry,” Valerio said. Here’s how he became a rock star in Britain.
Kurt Davis Jr., 1:07 pm AFKI Original
After-work teas are becoming after-work beers and glasses of wine in Africa. As incomes grow in sub-Saharan Africa, consumers are demanding better quality wine and spirits – both imported and locally made. “Drink more please” — it’s not the best parenting line but it is the thinking of many top executives at wine and spirit companies. Sub-Saharan Africans drink 10-to-11 liters of beer per person per year. Comparatively, Asians drink about 19-to-20 liters and Americans drink about 73-to-74. Only South Africans drink more than the global average — around 46 liters.
Keren Mikva, 10:18 pm AFKI Original
Machar said initially he was “around Juba,” but would not return to the capital until outside forces intervened. This week, he showed up in the Democratic Republic of Congo’s capital Kinshasa, but said he wanted to travel on to Ethiopia. “I am waiting for the international community and regional body to say they will deploy troops to Juba and once they do that, I will return to implement the (peace) agreement,” Machar said. The U.N. said Machar was in danger and helped him go into exile.
Staff, 6:53 pm
One of the worst yellow fever outbreaks in decades could soon spread globally. The World Health Organization is launching one of the largest emergency vaccination campaigns ever attempted in Africa. The epidemic could spread to the Americas, Asia, Europe and other cities in Africa. The virus is transmitted by the same species of mosquito that spreads Zika. Yellow fever is not highly contagious and easily prevented with vaccines, but just 18 million vaccines have been sent to Africa; 40 million are needed.
Keren Mikva, 1:52 pm
When it comes to the stuff bling is made of, Africa is enormously bountiful. Its mineral deposits make it one of the richest natural resource-laden places on Earth and everyone wants some. The following are the most mineral-rich African countries.
Keren Mikva, 2:56 pm
Nine out of the 10 biggest produce exporters to the U.K. are E.U. member countries. Potential changes to E.U. tariffs and the falling value of sterling have forced some retailers to consider sourcing from different countries. U.K. produce importers say they expect to see more produce from Africa. South Africa is already the No. 2 source of fresh fruit to the U.K. after Spain, and Kenya may become a beneficiary of the changing trade patterns.
Dana Sanchez, 4:46 pm
Both the U.S. Democratic and Republican parties adopted official party policy platforms for the upcoming presidential election, but not much was said about Africa. U.S. party platforms are not binding, but special interest groups pore over them and use them to try and influence policies in future governments. Just 174 words of the Democratic platform are devoted to Africa, on the next to last page. The Republican party discussed Africa in 197 words in its party platform. It’s still early to tell if Obama’s legacy, Power Africa, will be an enduring success.
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