Kenya: Latest News
Global Law Firms Bypass South African Alliances And Set Up Independent Offices For African ExpansionBy Dana Sanchez, 2:20 pm
When apartheid ended, local law firms had unprecedented growth as SA re-entered the global economy. Leading law firms came calling and formed local alliances. “South African firms had to decide whether they wanted to be South African, African or global,” a stakeholder said. More recently, international firms have bypassed local ones, opening their own offices. SA is a jumping-off point for building networks of offices throughout the continent. Don’t expect the SA influx of international firms to end anytime soon, stakeholders say.
Bridget Williamson, 3:59 pm
Victoria Falls gets all the attention when it comes to waterfalls in Africa, and deservedly so. It’s not the highest or the widest waterfall in the world, but it’s the biggest — about twice the height of North America’s Niagara Falls and more than twice as wide. Africa has other fabulous waterfalls that many people don’t know about. They’re on the periphery of the beaten path in regions previously overlooked or ignored. Some are hard to reach. They’re among the most underappreciated aspects of Africa’s natural heritage.
Tom Jackson, 9:51 am AFKI Original
In 2017, expect more African reverse innovations that address local challenges and have global applications. Expect more drones. More Africans connected to the internet. Expect the calls for faster, cheaper internet to grow louder in 2017. Four key players in the African tech space talked to AFKInsider about what they know for sure and what they’re looking forward to in 2017: BRCK co-founder Erik Hersman, project Isizwe founder Alan Knott-Craig, Jumia co-CEO Jeremy Hodara and Ovum analyst Danson Njue.
Staff, 1:00 am
An investment fund that describes itself as “the first cross-border fund between Africa and France” wants to help French companies expand in Africa and African companies expand into France and other E.U. markets. Investments will be in the form of equity participation, generally through minority stakes. The fund’s capital will targeted towards African startups displaying a high growth potential. Investors include Orange, Bpifrance, Société Générale and Proparco.
Dana Sanchez, 6:42 pm AFKI Original
Large numbers of Chinese migrants have followed the money to Africa, but no one really knows how many — not even close. Estimates range from 250,000 to 2 million. Experts say informed guesses are anything from speculative to “very problematic.” It’s a problem because inaccurate claims about the Chinese migrant population can contribute to xenophobic election rhetoric and violence, says a migration researcher. In many countries, statistics on migration are incomplete, out of date or nonexistent. “Statistics are political,” a stakeholder said. The data may be out of date but it’s the only data we’ve got.
Staff, 2:20 pm
It’s somewhat disconcerting to look at gazelles with the roar of traffic as your soundtrack, or see a line of skyscrapers on the northern edge of the park, but this is Africa. If you’re visiting Nairobi and don’t have time to head out into the bush, you’ll find one of the best urban wildlife parks in the world just a few miles from the city’s central business district. All you need is a few hours. At the Nairobi National Park, I saw giraffe, Cape buffalo, wildebeest, baboons, impala, a rhino and her baby, and — unexpectedly — lions mating.
Dana Sanchez, 1:43 pm AFKI Original
Barack Obama’s 2008 election as U.S. president inspired millions of Africans with hopes that strong ties to Kenya, country of his father’s birth, would mean increased U.S. involvement. Some believe Obama will leave office Jan. 20, 2017, falling short of those expectations. He has been blamed for not making African issues a top priority of his foreign policy. Others say he leaves a lasting legacy that will live on — especially in Africa’s young leaders.
Peter Pedroncelli, 8:00 am AFKI Original
African heads of state and politicians make use of social media to communicate with peers and the people which they serve. Twitter is becoming a popular short-message platform in which to connect with the masses, and Donald Trump is not the only world leader that loves to communicate with posts of under 140 characters. From South Africa to Nigeria, the high profile African heads of state tweet, retweet and reply to followers, offering their opinions on many issues while advancing their own agendas through social media. Here are 12 African heads of state who are on Twitter.
Dana Sanchez, 5:02 pm
In a sign that local credit ratings are becoming more lucrative in Africa, U.S. buyout firm Carlyle agreed to become the largest shareholder in Africa’s largest rating agency. GCR rates more credits on the continent than giants Fitch, Moody’s and S&P. Growth is constrained in the present credit ratings system, said the president of the BRICS New Development Bank. The Big 3 rate over 90% of the global sovereign ratings market. GCR specializes in national-level ratings, which rely less on a country’s sovereign rating.
Dana Sanchez, 1:55 pm
The African tech space is not immune to the economic pressures faced by other sectors, but it is proving resilient. Significantly more African tech startups raised funding in 2016 than the previous year, but the overall amount of recorded funds declined, according to a new report. Fintech startups were the winning sector, receiving the most investor funding in Africa in 2016. The economic downturn played a part in that. Fintech in Africa is different, a stakeholder said. It’s building new infrastructure rather than disrupting an existing one.
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