Rwanda: Latest News
Staff, 5:00 am
South Sudan was hit by renewed violence between government forces and former rebel troops that left hundreds dead earlier this week, leading to fears that the country’s two-year civil war could be reignited. A four-day cease-fire is currently holding. Getachew Reda, Ethiopia’s communications affairs minister, said the Intergovernmental Authority on Development (IGAD) would meet to discuss restoring peace to South Sudan.
Staff, 3:18 pm
It can take about 25 years to turn a country from Third World to First World. Ten countries in Africa are heading to this transition. Japan was the leader of the “Asian miracle,” but others include Taiwan and South Korea. They had no mineral wealth. What they had were national systems of innovation and they invested in human capital. Many started off equal or lower in GDP per capita than African countries. Household incomes improve when people get involved in tech-based work. Even agriculture needs to be high tech. This is a path Ethiopia is following.
Dana Sanchez, 12:52 pm
The top three investor economies to Africa in 2015 were the U.S., ($66 billion), the U.K. ($64 billion), and France ($52 billion), according to a new U.N. report. China’s investment in Africa more than tripled to $32 billion in 2015, making it the fourth-largest investor on the continent. South Africa was the fifth largest investor in Africa at $26 billion. Investment into Africa overall was down 7 percent and South Africa was one of the biggest losers.
Lillian Mutiso, 4:47 am AFKI Original
Africa is known for its vast potential of mineral resources. It is a great investment destination for foreign business organization from across the world. Investors’ desire to do business on the continent depends largely on the ease of company registration with regard to meeting legal and regulatory demands. According to the World Bank’s Ease of Doing Business Index, a transparent and smooth registration process woos investors to any nation.
Dana Sanchez, 1:24 pm
Charities like Goodwill sell or give away used clothes donated by millions of U.S. citizens. Many end up in sub-Saharan Africa. Secondhand clothing imports have “completely killed the textile industry” in developing countries, a Rwandan official says. You wouldn’t know it at Chinese-owned C&H Garments, one of the busiest factories in Rwanda’s economic zone. C&H exports new clothes to Europe and the U.S. The EAC agreed to ban used clothing imports by 2019. Ordinary Rwandans worry local manufacturers won’t be able to supply cheap clothes.
Staff, 12:11 am
The African Union is set to launch a common electronic passport that would grant visa-free travel to all of its 54 member states. Statelessness is a particular concern. Millions of Africans lack official documentation of nationality, though its hard to estimate how many are stateless. In some countries, access to citizenship is difficult because of rules limiting rights for children of foreigners, racial, ethnic and gender discrimination and lack of accommodation for a nomadic lifestyle.
Israel’s Friends In Africa: Who Is, Who Isn’t, Who’s Not Saying. Can Israel Get A.U. Observer Status?By Dana Sanchez, 10:29 pm
Even if there are countries in Africa that disagree with Israel on certain issues, they should not be able to veto the continent’s cooperation with the Jewish state, the Ethiopian leader says. Israel does not have formal diplomatic relations with at least nine predominantly Muslim sub-Saharan countries, but Islamic extremism in Africa could change that. Security, including military training and border controls, could be Israel’s No. 1 export to Africa.
Dana Sanchez, 9:48 am
Rwanda’s KivuWatt was developed by U.S. company ContourGlobal on the shores of Lake Kivu, an area of volcanoes that Rwanda wants to promote as a tourist destination. The lakes’s depths are home to a toxic methane gas known to suffocate humans when it escapes lake bottoms. A hi-tech barge is harnessing the poisonous methane gas from the depths and converting it into electricity for energy-poor Rwandans.
Staff, 3:43 pm
It is highly likely that East African stock exchanges will increase their market capitalization in the medium to long term. Each lists stock in their respective local currencies, so a decline in currency value relative to hard currencies such as the USD or Euro could reduce gains to foreign investors. So buying opportunities may occur after currency depreciation events. However buyers should beware as global markets are becoming increasingly correlated.
Keren Mikva, 6:44 pm AFKI Original
Inspired by an MIT event in Lagos, Ogunlana Olumide and Chukwuwezam Obanor created PrepClass, software designed to help Nigerian students prepare for tests online. In addition to providing online test prep, the company employs over 100 tutors who travel to students’ homes to teach one-on-one. The personalized approach has been successful, and company revenue is up 1400 percent.
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