Egypt: Latest News
Staff, 10:43 am
Africa is known as the motherland, the birth of mankind, where it all began. Yet for many years it has also been called the “dark continent” due to the rate of development of many countries. This perception is changing quickly, with hundreds of tech hubs, who are creating cutting-edge technology products and services, popping up all over the continent, making the rest of the world take notice. A tech hub is an area of IT landscape by which people come together and breed innovations.
Peter Pedroncelli, 9:26 am
The winners of the Facebook First Bots for Messenger Developer Challenge were announced this week, with submissions from Egypt doing very well. Egyptians featured prominently among the winners and runners-up of the three categories, as did Morocco. A total of 60 finalists from 64 countries in the Middle East and North Africa region were considered for the eventual winner’s prize, which included $20,000 in addition to three months of Facebook mentorship.
Peter Pedroncelli, 6:17 am
Mobile phone sales across the African continent fell during in the first quarter of 2017 in comparison with the fourth quarter of last year, but East Africa still remained in positive growth territory. Overall shipments of mobile phones to Africa in the first quarter amounted to around 54,5 million units, which represents a decrease of 8,2 percent versus fourth quarter data for 2016. A sharp decline in smartphone sales, which were previously growing consistently, contributed to the first quarter growth negativity, with a staggering 17,6 percent decline in the smartphone segment for the first three months of the year
Staff, 9:40 am
Tech-savvy entrepreneurs and their startups focus on growth potential and consider innovation as the main driver of their ventures. Large corporations generally focus on profitability and long-term stability, with innovation playing a less important role. Egypt does not only seek to attract foreign innovation-driven ventures to capture its high potential market, but it is also very keen on supporting local entrepreneurs to unleash their potential in the domestic and international markets.
Peter Pedroncelli, 3:16 am AFKI Original
Social media has taken the world by storm in recent years, and the number of active Facebook users in Africa is a testament to the fact that the continent is also part of the social media trend. With Facebook being the most popular of the social media networks, and the proliferation of mobile throughout Africa providing the ideal breeding ground, the combination of factors has led to a growing user-base for the company. Africa is home to around 330 million internet users, and around 44 percent of them are active on Facebook.
Kurt Davis Jr., 6:44 am AFKI Original
The African consumer goods and retail investment space is looking up for the second half of 2017, with opportunities available across a number of countries on the continent. While the usual suspects such as Nigeria and South Africa remain likely targets for international retail investment, there are a number of wildcards on the continent which may surprise analysts and attract investment due to their established links to regional markets.
Staff, 7:33 am
Chairperson of the Egyptian Association for Direct Investment Abdallah El Ebiary said that investment in venture capital is the new growth locomotive for the country, where these investments can help successful companies and products with a better future and good growth potential through the restructuring of emerging companies with high risk.This helps advance the economy and promote it, as the number of these companies is high, so taking interest in them would reflect positively on the economy.
Peter Pedroncelli, 4:51 am
U.S. software giant Microsoft has announced plans to open two new cloud data centers in South Africa, in order to provide Microsoft Cloud services for the African market from centers based on the continent. These hyperscale data centers will be built in Cape Town and Johannesburg, representing a strategic advantage for Microsoft, as they will be the only top-tier cloud provider with a data center presence in Africa. With availability of cloud services expected in 2018, the services that will be delivered via the two South African data centers will include Microsoft Azure, Office 365, and Dynamics 365.
Peter Pedroncelli, 3:20 am AFKI Original
The United States provides foreign aid that benefits numerous African recipients, with over $43 billion of total obligations going to 222 countries around the world in 2015. Much of this goes to assisting countries in sub-Saharan and North Africa, with USAID funding countless programs for the good of people within those nations. We take a look at the 12 biggest African recipients of foreign aid from the United States.
Peter Pedroncelli, 4:18 am
In an effort to attract foreign direct investment back to the country, Egypt has passed a law that is designed to cut red tape and make conducting business in the country far easier. Along with reducing bureaucracy for new business ventures in the country, incentives have been created in order to attract businesses to return to the North African nation. Egypt’s economy has been struggling in the last six years since the 2011 uprising that saw Hosni Mubarak overthrown as Egyptian president.
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