Mauritius: Latest News
Dana Sanchez, 2:47 pm
It’s worse in Malawi, where citizens spend more than $12 a month on average for mobile phones — that’s more than 50 percent of what an ordinary Malawian earns in a month. South Africa’s Western Cape province plans to spend more than $125 million on a broadband roll-out project, but Internet is still too high, said its minister of economic opportunities. How much do Africans spend on mobile as a percentage of their income? Check out the cheapest and most expensive ones here.
Dana Sanchez, 3:26 pm
Milken speaks highly of immigrants; 50 percent of the scientists and engineers in Silicon Valley are first-generation immigrants, he told a crowd of 600-plus at the Tiger 21 conference. Members of the North American Tiger 21 network are high-net-worth investors who collectively manage $35 billion in investable assets. Miliken has done a lot to restore his image since being banned for life from the securities industry. He has an institute named for him and he’s full of optimism for Africa.
Dana Sanchez, 2:55 pm
Barclays is preparing to sell some of its 62% stake in Barclays Africa Group Ltd, the publicly-traded entity that houses most of its African business, according to a January WSJ report. Barclays needs to exit Africa completely, say analysts at NYC-based asset management firm Sanford C Bernstein. “The Africa business has absolutely no synergy whatsoever with the rest of the bank – be it with retail, commercial or the investment bank. You should let the franchise go.”
Dana Sanchez, 11:39 am
Afro Emoji says it identified a gap in the market for custom characters that represent 100s of millions of Africans on the continent and in the diaspora. With an estimated 12,500 emojis tweeted every minute, advertisers are interested in what they mean. When Apple was accused in 2014 of lacking racial diversity in its emojis, it came up with skin-tone emojis. “Diversity is not about skin color — it’s about embracing the multiple cultures out there that have no digital representation,” a stakeholder said.
Kurt Davis Jr., 10:50 am AFKI Original
DRC is in for a big telecom boom. It has a mobile penetration rate of 68% — lower than the African average — with a 100% penetration predicted by 2020. If you are not prepared to spend on Africa’s fourth most-populated country, then you will miss out. Capital will have to be patient. DRC is an early stage emerging-market country with an election planned in 2016, but the revenue potential cannot be ignored.
Peter Pedroncelli, 8:05 am AFKI Original
Politics and education often go hand in hand, with presidents and prime ministers the world over often qualified for their positions as the leaders of their respective countries through completed academic studies in a variety of fields. With this in mind, we take a look at 8 heads of state in Africa who are well educated.
Dana Sanchez, 12:26 pm
The $12.2 billion sale is expected to be complete by mid-2016. It’s part of a trend for consolidation across the global hotel industry, and these global mergers are likely to impact African hospitality significantly. “This domination by the new merger company will lessen over time as other companies start to understand the appeal of the African market,” a stakeholder said. The combined company will have 10% of the total hotel supply in the world — not a monopoly.
Dana Sanchez, 2:41 pm
A Barclays sell-down may be a way for South African investors to reclaim the banking asset from British control and create a South African champion. But rumors of a Barclays Africa sale are just that — rumors — according to the head of South Africa’s Public Investment Corporation. He said he got that from Barclays Africa CEO Maria Ramos. PIC is the second-largest investor in Barclays Africa after Barclays with a 5.44% stake valued at $303.3 million US.
Dana Sanchez, 3:00 pm
For $50, you can stay in the 51st floor penthouse of Africa’s tallest apartment building in downtown Johannesburg — dinner included. Or you can stay at an Airbnb-listed accommodation maintained by the Kigali Art Gallery, which teaches art to genocide survivors and impoverished youth. Airbnb says it was designed for micro-entrepreneurs. Like Uber, the tech-based booking platform is not without critics who blast the sharing economy.
Peter Pedroncelli, 8:05 am AFKI Original
Carrying a South African passport means you can travel to 97 countries without a visa, making it one of the top three countries in Africa whose citizens have broad freedom to travel. Certain countries have more freedom than others when it comes to travelling without a visa. Check out 8 of the most useful African passports to have.
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