Namibia: Latest News
Staff, 8:30 am
Namibia’s Ministry of Information and Communication Technology will host the 4th National ICT Summit from Oct. 9-11 in Windhoek. The Ministry at a stakeholders engagement meeting said, the ICT Summit which is an annual event is aimed at bringing ICT stakeholders in the country together to share innovative ideas in bridging the digital gap and making ICT accessible. According to the Ministry, the country needs more involvement and support of stakeholders both in the public and private sectors.
Global Risk Insights, 6:33 pm
Proponents of the sharing economy say Uber and Airbnb benefit Africa, but who exactly is benefiting? They’re inserting themselves into existing informal sharing dynamics, acting as corporate middlemen and disrupting existing livelihoods. Underdeveloped formal sectors and high unemployment in Africa created the sharing economy out of necessity. Uber and Airbnb are taking a share of the profits.
Peter Pedroncelli, 6:36 am
State-owned airline Air Namibia has be given approval to fly in and out of the United States, allowing it to join the ranks of an exclusive set of African carriers with permission to do so. Previously, only South African Airways, Ethiopian Airlines, Egypt Air, Moroccan Royal Air Maroc and Cape Verde’s TACV airline have enjoyed the right to fly passengers in and out of the U.S. from Africa. The airline is expecting to generate revenues through its codesharing agreements with partners to the U.S.
Peter Pedroncelli, 3:20 am AFKI Original
The United States provides foreign aid that benefits numerous African recipients, with over $43 billion of total obligations going to 222 countries around the world in 2015. Much of this goes to assisting countries in sub-Saharan and North Africa, with USAID funding countless programs for the good of people within those nations. We take a look at the 12 biggest African recipients of foreign aid from the United States.
Kurt Davis Jr., 2:00 am AFKI Original
Short-term volatility and uncertainty in the African growth story create opportunities for hedge funds. Hedge funds generally operate more flexibly than private equity, and they have the creativity to generate bond-like returns that outpace inflation. Critics say hedge funds have limited liquidity in an opaque world. The riskiest play — but with big returns — is in agriculture and land. Where land is for sale in Africa, investors are making a play for a limited resource, especially when it’s arable, ripe for production or ideal for commercial and residential construction.
Staff, 8:36 pm
Pension funds are good news for infrastructure projects in Africa. Development banks and private equity funds are targeting pension funds in Africa as sources of investment capital. Four African countries hold 90 percent of Africa’s pension fund assets. Despite challenges, African pension funds are likely to make a substantial impact on infrastructure investment in the next few years. One promising trend is the rise of regional funds targeting pensions. They’re making a new source of African capital available to address the region’s infrastructure deficit.
Dana Sanchez, 3:22 pm AFKI Original
Despite declining oil prices, oil-rich Norway is the happiest country in the world — proof that it’s about more than income. The people who live in the happiest countries in the world also value good governance, freedom, generosity, honesty, and health, according to World Happiness Report. There’s a deficit of happiness in Africa. African youth are essentially optimisitic and resilient in the face of poor infrastructure, but they are disappointed with development under democracy, say the authors of the report.
Dana Sanchez, 1:01 am
Namibia is one of youngest countries in the world, gaining independence in 1990. Its capital is the place to experience its modern culture and energy. Begin at the Post Street Mall, Windhoek’s main shopping district. There you’ll find a sculpture made from 33 meteorites that dumped 21 tons of mostly ferrous iron rocks some 600 million years ago. The Nama people discovered the meteorites and turned the fragments into weapons and tools. Today, pieces are incorporated in local jewelry designs.
Dana Sanchez, 4:10 pm
For many Western companies, Africa is a fresh start — an opportunity to build facilities and processes that are environmentally friendly and safe. And don’t forget the tax breaks. Manufacturing in Africa is expensive, training and the quality control are expensive. Most apparel will continue to be made in Asian countries where labor is still relatively cheap and infrastructure, in place. But in China, the world’s apparel manufacturing leader, wages have increased 80% since 2010.
Dana Sanchez, 2:43 pm AFKI Original
South Africa is invariably cited in discussions about jobless rates in Africa, but two thirds of African countries have higher unemployment. Africa is witnessing its best growth performance in decades, yet the world’s youngest continent, demographically speaking, continues to have high unemployment with few signs of recovery in 2017. High unemployment is a key factor shaping young people’s decisions to migrate. The continent’s youth population is expected to double to 830 million by 2050.
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