Ghana: Latest News
Staff, 9:40 pm
Crowdfunding has been steadily gaining traction in Africa over the past decade. There are 57 crowdfunding platforms on the continent — most designed to serve local consumers and support projects in the host country only. Still, crowdfunding in Africa is limited compared to other regions. In 2015, the African crowdfunding market amounted to about $70 million, less than 1 percent of the global market. Investors and African entrepreneurs who use crowdfunding are operating in an unregulated space, at least in most African countries.
Kurt Davis Jr., 9:32 am AFKI Original
Infrastructure in Africa is at the forefront of investors’ minds. Private equity investors see great opportunity, especially in power projects. The Ivorian president is a former IMF economist. The Ivorian budget minister is a former Goldman Sachs trader, and they’re on the same wavelength. The Côte d’Ivoire economy is expected to grow 8-9% in 2017 and 2018. Strengthening infrastructure will be key in the next phase of the Ivorian growth story. The government plans to spend $60 billion on infrastructure through 2020.
Dana Sanchez, 12:35 pm
Facebook beat Wall Street expectations for sales and user growth in the fourth quarter of 2016, and it credits Internet.org, its free basic version of the internet in developing countries, for helping make that happen. It added more users worldwide in the fourth quarter than any quarter since the company went public in 2012. Founder Mark Zuckerberg’s vision is to get more Africans online. “This isn’t a purely altruistic venture,” an analyst said. Internet.org, is available in 23 African countries through partnerships with mobile operators.
Peter Pedroncelli, 9:57 am AFKI Original
The 2017 Africa Cup of Nations (AFCON) has come to an end, with the Indomitable Lions of Cameroon securing ultimate victory in the final over Egypt with a 2-1 win that few saw coming. The competition in Gabon was entertaining, providing fans of the beautiful game with action-packed matches to enjoy over the course of three weeks. A number of records were broken, while some interesting statistics came to light during the premier African national team competition. Here are 12 records and facts that emerged from the 2017 Africa Cup of Nations.
Staff, 12:15 pm
Netherlands-based Vitol has been one of the big winners of the oil price crash, as the glut in supply led to arbitrage and storage opportunities. The company enjoyed one of its most profitable years in 2015, with a 15% increase in net income to $1.6B. Independent oil traders typically avoid involvement in big oil exploration projects, focusing on moving oil and fuel from where it is produced to where it is most needed. But a few have made tentative steps as it can provide an alternative source of revenue and secure source supply.
Dana Sanchez, 3:22 pm AFKI Original
If Ant expands access to mobile money, it could mean that even more people will receive remittances on their mobile money accounts, and that will be good for Ismail Ahmed. Mobile money is disrupting remittances and making formal transactions easier, says Ahmed, a Somali entrepreneur and CEO of online money transfer service WorldRemit. Only 5% of remittances today are sent online. The rest is cash, paid over the counter or at agents. Online remittances are projected to grow six-fold to reach at least 40 percent in the next few years.
Peter Pedroncelli, 3:34 am AFKI Original
The Indomitable Lions of Cameroon managed a 2-0 win over the Black Stars of Ghana in the second semi-final played at the Stade de Franceville on Thursday evening, securing their place in the 2017 Africa Cup of Nations final against Egypt. Goals from Michael Ngadeu-Ngadjui and Christian Bassogog made sure of victory over a more favoured Ghanaian outfit, with captain Benjamin Moukandjo leading his charges by example with a fine display in midfield.
Staff, 12:55 pm
To fulfill its economic potential, Africa must industrialize and it’s well suited to do so. The question is how. The economic growth experienced in recent decades has not been sustainable or inclusive. Africa’s economies must move beyond producing raw materials to build competitive manufacturing with added value. Developed countries’ experiences will help Africa avoid the pitfalls of unbridled industrialization, especially environmental damage. Africa is committed to industrialization. The process is already underway in Ethiopia, Ghana, Rwanda, and Senegal.
Peter Pedroncelli, 4:31 am AFKI Original
Egyptian national team goalkeeper Essam El Hadary was named man of the match in Wednesday night’s 2017 Africa Cup of Nations (AFCON) semi-final victory over Burkina Faso at the Stade de I’Amitie in Libreville. The 44-year-old goalkeeper, who is now the oldest player to have taken part in an AFCON match, helped his side to a win over Burkina Faso after a 1-1 draw in normal time gave way to the lottery of penalties, with the Pharaohs winning the shootout 4-3.
Kurt Davis Jr., 10:23 am AFKI Original
French cosmetics company L’Oreal has invested in organic beeswax in Mali, the surprise country for 2017. Economic growth should hover around 5-to-6 percent this year as agricultural production strengthens. Lack of investment or interest in the country in recent years means there are unexploited opportunities with many investors still sitting on the sidelines. Opportunities exist in cashews, biofuels, shea butter and cotton. This year should see some investors put cash into the country, especially in agriculture.
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