Democratic Republic of Congo: Latest News
Dana Sanchez, 5:34 pm AFKI Original
Tokyo Sexwale’s story needs to be made into a Hollywood movie. He’s a anti-apartheid activist who did time with Nelson Mandela, a billionaire diamond magnate worth $200 million at one point, a TV host, former housing minister, soccer activist and a peacemaker. Now he’s being investigated in the U.S. as one of three South Africans who “enriched themselves” using millions of dollars of U.S. investor funds.
Dana Sanchez, 9:54 pm
Tesla recently announced several huge Powerpack projects, but all were tied to the grid. The Singita project in South Africa’s Kruger Park is a rare off-grid installation for Tesla. It’s an opportunity to showcase the potential of Powerpacks for off-grid systems with solar in remote areas. Tesla’s rechargeable Powerpack battery systems are designed to store energy for large off-grid and grid-tied power systems. They’re adapted from the technology used in Tesla’s electric cars.
Dana Sanchez, 9:50 pm
For ambitious young U.S. soldiers seeking leadership, a deployment in Africa is hard to beat. And that means being based in Djibouti. Djibouti’s status as a stable country in an otherwise volatile region is an asset worth millions of dollars in rent. Djibouti enjoys a lucrative role as a landlord. The U.S. pays $63 million a year to rent its base at Camp Lemonnier. China is building a base 8 miles away, and will be paying $100 million for theirs.
Peter Pedroncelli, 7:23 am AFKI Original
The third round of African World Cup qualifying is upon us, with 20 teams from the continent left with a chance of securing one of the five spots allocated to the African continent. This weekend will see the opening matches of the third round group stage. Here are 10 African World Cup qualifying matches to look out for this coming weekend.
Kevin Mwanza, 9:42 am
Presidential election in the Democratic Republic of Congo (DRC) that was scheduled to take place in November could be delayed to December 2018, a move that the opposition has claimed is part of President Joseph Kabila’s plan to cling onto power beyond the constitutional two-term limit. The Independent National Electoral Commission (CENI) told a multi-party meeting that it would conclude updating the voter register by July 31, next year and require at least 500 days to organize the poll
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.
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