Ghana: Latest News
Peter Pedroncelli, 5:45 am AFKI Original
The cosmetics industry in Africa is a burgeoning market that is set for increased interest from international brands as well as added opportunities for local entrepreneurs. From $400 per weekend to $1 million a month, local business successes form part of the cosmetics narrative in Africa, with opportunities waiting to be tapped. Here are 12 things you may not know about the cosmetics industry in Africa.
Kurt Davis Jr., 11:03 am AFKI Original
Presidential term limits are a slippery thing. Occasionally they can seem like a good idea. Most of the time, not so much. That’s what makes these five upcoming African elections so riveting. Everyone is watching to see who replaces Liberia’s popular Ellen Johnson-Sirleaf — Africa’s first female president. Will it be a former soccer player, or the ex wife of former Liberian President Charles Taylor? He was convicted of aiding crimes against humanity. She’s one of the most powerful woman in Liberian politics. Or it may be a former Coca-Cola executive, a former central bank governor or an attorney.
Dana Sanchez, 2:22 pm AFKI Original
Shopping is changing in Africa. Formal retail developers are learning from the failures of malls in developed markets like the U.S., and applying new models to old ideas. African micro enterprises and small businesses will have a greater demand for shared space and flexible office space in the future. New or existing African office developments will need to apply design principles used in innovation labs, incubation centers and flexible work spaces, a stakeholder said.
Karen Elowitt, 12:01 am
In the 1920s when this photo was taken of a Xhosa man with a pipe, the South African government was busy reinforcing the foundations of apartheid. The government reserved skilled work for whites and denied black workers the right to organize. Legislation in the Natives Urban Areas Act of 1923 entrenched urban segregation and controlled movement by means of pass laws. The hated pass laws were designed to force blacks into labor and to keep them at wage levels that suited white employers.
Global Risk Insights, 12:51 pm
Wildlife tourism represents 80% of total annual travel sales to Africa. Environmental crime deprives countries of future revenue. After China announced last week that it plans to end all commerce in ivory by the end of 2017, illegal poaching is back in the spotlight. Corruption remains the key enabler of wildlife trafficking. High-level members of poaching syndicates, sometimes government officials, are rarely convicted. The fight against environmental crime has to be addressed as a political issue. It’s the world’s fourth largest crime sector after drug smuggling, counterfeiting and human trafficking.
Tom Jackson, 4:42 am AFKI Original
Another year, another milestone for the African technology space. With things developing at a rapid pace, it is hard to predict what will be the next big innovation in this exciting sector. Let’s have a go, in any case. Drones seem to have been a topic of discussion for a long time, yet in Africa we haven’t seen much of them. That is probably about to change. The continent is no longer deemed a risky place to do business, but rather digital’s “final frontier”.
Dana Sanchez, 1:45 pm
In the process of tapping into the sharing economy, Airbnb tapped into a relatively unfilled niche in Africa — the need for reliable, mid-range accommodation in African cities. Doing so helped Airbnb become the second most valuable U.S. startup in 2016. Valued at $68 billion, Uber is the most valuable startup in the U.S. and across the globe — proof that you can get rich by sharing.
Kevin Mwanza, 6:32 am
M-Pesa, the world’s largest mobile money network, could be the key to poverty eradication in the developing world based on its success in Kenya where almost 200,000 households headed by women are living above the poverty line as a result of the innovation, according to a study by Journal Science. The service, owned by telecom service provider Safaricom has economically improved the lives of many families in rural parts of East Africa’s biggest economy in the last six years.
Tom Jackson, 2:01 am AFKI Original
Africa is increasingly establishing itself as a hotbed of tech innovation, and 2016 was packed with further progress. From Cairo to Cape Town, from major players to the smallest startups, African tech is developing at a startling pace. But what were the major developments on the tech scene over the course of 2016? Increasingly, investors are seeing Africa as an opportunity rather than a risk, and the tech space in particular is proving itself able to withstand the general slowdown.
Kurt Davis Jr., 8:15 am AFKI Original
Mozambique had a tough 2016. The country is unable to pay its debt until gas revenues are available after 2021. Public debt is expected to be near 130 percent of GDP by the end of 2016. The IMF continues to help Mozambique negotiate with creditors – a bright spot considering the IMF suspended aid to the country in April after evidence of $2 billion in hidden loans came to light. This “hidden debt” by state-owned firms has destroyed creditors’ trust in Mozambique.
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