South Africa: Latest News
Peter Pedroncelli, 1:25 am AFKI Original
The year 2016 was not an easy one for South Africa, but investor outlook for the year 2017 certainly looks more positive. Having survived a tough year, investors are now looking at South Africa to gauge whether or not to invest their funds in the emerging market, but there are a flurry of reasons to give the country a second glance in 2017. We take a look 12 things that are expected to improve investor outlook in South Africa during 2017.
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, 4:10 pm
Around 60% of all products in South African stores are halal certified. Despite Muslims forming 1.5% percent of the population, this huge percentage of halal products is due to the large quantity of exports sent north in the continent, much of which is Muslim. South African traders make up about half of Africa’s fast-moving consumer goods sector, and 35 percent of these traders are Muslim. SA has helped other African countries set up halal certification including Zambia, Namibia, Botswana and Mozambique.
Dana Sanchez, 11:28 am
Chevron South Africa assets include a refinery in Cape Town that produces 110,000 barrels a day, a lubricants plant in Durban and about 800 Caltex service stations. It’s one of South Africa’s top five petroleum brands and has done business in the country for more than 100 years. Low oil prices and uncertainty about future prices will make it difficult for potential buyers to fund an acquisition themselves or to raise capital externally, a stakeholder said.
Becca Blond, 2:49 pm
No matter how many times I drive South Africa’s most famous road trip, the Garden Route never gets old. The scenery is some of the country’s most stunning, beginning east of Cape Town at Mossel Bay and finishing up around Storm’s River and Tsitsikamma National Park. The route follows the sea past lagoons and some of the largest indigenous forest tracks in SA. Book a township tour in Knysna, home to the country’s largest Rastafarian community. The government turns a blind eye on marijuana cultivation in accordance with residents’ religious beliefs.
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.
Dana Sanchez, 11:00 am
At the southern tip of Africa where the Atlantic and Indian oceans meet, you can take a self-guided, five-day coastal hike. The Cape Agulhas Southernmost Walk rewards adventurous travelers with stunning views, beautiful beaches, and shipwrecks. You’ll meet fishermen and Khoikoi beach nomads. Accommodation is in three- and four-star lodges. Your luggage will be transported for you. All you take with you is a day pack.
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