Egypt: Latest News
Dana Sanchez, 11:56 am
MTN making a bid to buy Barclays Africa assets might sound far-fetched and ridiculous – but an MTN bank with operations in 14 African countries would shake up both the cellular and financial services industries. MTN has a track record in integrating big assets. Two new hires at MTN include top-ranking executives with heavy banking experience. Building its own fintech solutions would be expensive for MTN. The trend is for fintech startups to partner with banks rather than telecoms.
Kevin Mwanza, 9:31 am
Africa’s next currency devaluation might be in Egypt, the second largest economy on the continent, after Nigeria allowed the naira to weaken two weeks ago when it stopped fixing the local currency price to the dollar. Egypt’s central bank governor Tarek Amer hinted earlier this week that the North African nation could be headed for another devaluation just a few months after he weakened it by 13 percent in March
Peter Pedroncelli, 5:00 am AFKI Original
The 2016 Rio Olympics provide an opportunity for African countries to earn medals for Olympic sports in competition with the best athletes and sportsmen and women from around the world. With this in mind, we take a closer look at 8 Olympic sports that teams from the African continent will likely excel at.
Joe Kennedy, 7:00 pm
The pyramids shouldn’t be the only reason you’re heading to Cairo. As a huge and bustling African metropolis, it has far more to do than look at some 4,500 year-old stones. From partying it up at a dance club, to dining on the Nile, to chowing down on delicious street food, here are 12 things to do in Cairo besides the pyramids.
Dana Sanchez, 4:38 pm
Is this the perfect storm for shipping canals? Cheap oil is one way container ships are cutting down on expenses. Bypassing hefty fees through Suez and Panama is another. Bunker fuel prices have fallen low enough to make it cheaper to reroute some container services around South Africa, avoiding the canals. “If the canals want to change the economics of routing choices, Panama Canal would need to cut prices by 30%, and Suez by 50%, said SeaIntel, which tracks the activities of container ships.
Kevin Mwanza, 5:04 am
Results of a referendum in the United Kingdom on Thursday to leave the European Union shocked markets across the globe, with over $2 trillion wipe out in a single day. African economies were not spared the volatility that the Brexit vote caused on different asset classes. Currencies, stocks and bonds plunged across the continent after the UK’s vote to leave. Africa’s largest economies – that have been struggling with commodity prices rout – were the most affected
Staff, 6:58 am
Perhaps the best thing about Egypt’s emergence as Africa’s second largest economy, overtaking South Africa, is that it had nothing to do with a Gross Domestic Product (GDP) rebasing exercise ─ the periodic revision of GDP estimates, as done by Nigeria and Kenya in 2014, with a view to obtaining an up-to-date reflection of the economy and changing dynamics across sectors. Not to say that there is anything fundamentally wrong with GDP rebasing,
Peter Pedroncelli, 6:27 pm AFKI Original
The 2018 World Cup qualifying draw for the 20 African teams who still have a chance to qualify for the tournament took place in Cairo on Friday. This will be the third round of qualifying for teams in Africa, with 54 countries on the continent originally attempting to book a place in Russia come 2018.
Peter Pedroncelli, 3:55 am AFKI Original
Friday will see the World Cup qualifying draw for the 20 African teams who still have a chance to qualify for the tournament that is set to be held in Russia during 2018. This will be the third round of qualifying from Africa, with 54 teams on the continent originally attempting to book a place amongst the sport’s elite. Only 20 African countries remain.
Peter Pedroncelli, 7:50 am AFKI Original
The transfer window is always a busy time for European soccer, and this particular pre-season window will be no different, with numerous African transfer targets set to attract a great deal of attention. We take a closer look at 10 of the African players who are transfer targets in the market window this summer.
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