South Africa: Latest News
Dana Sanchez, 4:02 pm
Africa has potential to boast more billion-dollar startups than anywhere else on Earth, says an Africa-focused investment manager. More than 200 African private equity deals were reported in 2016. Almost a third were in South Africa, but the potential in Nigeria is mind boggling. Internet spending in Nigeria was nearly $2B last year, with only 3% of Nigerians having fixed broadband access. Multiple billions in spending is driven by mobile internet users. Digital content and the subsequent advertising and brand exposure are, for the first time, accessible by the majority of Nigerians on their mobile devices.
clewis, 1:01 am
After hiking the Pafuri Walking Trail in the remote north of the Kruger Park, I’ve decided the park is best explored on foot. Don’t expect to sleep in at Pafuri Walking Trail Camp. Wake-up call is at 5:30 a.m. Despite guides carrying rifles, I feel vulnerable. A cartoon from Gary Larson’s Far Side pops into my head: Two crocodiles are lying next to each other, a pith helmet and a safari suit between them… A lone elephant is feeding nearby. We tiptoe closer. He swings around and gives us a haughty look. We freeze and hold our breath. Even the birds have gone quiet. Then he saunters away, content that he showed us who is boss.
Dana Sanchez, 11:51 am
One of the world’s largest aircraft manufacturers, U.S.-based Boeing ranked No. 2 among defense contractor in the world in 2016. Boeing Defense does business with countries across Africa in security including surveillance drones. “The aerospace industry needs to start paying closer attention to Africa, because this continent is clearly on the move economically and all the trends are pointing in the right direction for the expansion of the sector,” a Boeing stakeholder said. Boeing hopes its two new African offices will be positioned to meet an anticipated demand of 1,150 new aircraft in Africa by 2035.
Peter Pedroncelli, 3:31 am
Allister Coetzee has been confirmed as Springbok coach despite a terrible 2016 season which prompted fans and rugby stakeholders in South Africa alike to call for him to be removed from the post. The Springboks have always been a force in world rugby, but last year saw the team struggle to replicate their usual good form against top sides. Coetzee survived a review to keep his job as coach of the side despite a terrible first season in charge in which the Springboks experienced a number of embarrassing losses while looking out of sorts at times.
Becca Blond, 1:01 am
South Africa has dozens of subterranean treasures. Some of these caves are portals to ancient human life. Visitors can glimpse the inner workings of Earth where the sun don’t shine. Blombos Cave is a coastal archaeological site east of Cape Town famous for 75,000-year-old beads that were found there. They were decorated with abstract designs, making them some of the earliest evidence of human artwork. Excavation of Middle Stone Age sites in Southern Africa resulted in a paradigm shift in understanding the development of modern human behavior.
Dana Sanchez, 9:08 am
The allegation that Nigerians are taking up jobs that could otherwise go to black South Africans is false. Nigerians employ local people in their small businesses. The claim that Nigerians are destroying the moral fabric of the South Africa through drug peddling and prostitution is not entirely true. Yes, some Nigerians may be in the business but their number is negligible. They are however loud and showy, which could trigger envy. Most Nigerians in SA are legitimate — academics, professionals, artisans and other needed service providers. When Nigeria helped SA in its liberation struggles, “we were called brothers. Now, we are expendable strangers.”
Peter Pedroncelli, 3:20 am AFKI Original
Africa loves soccer, and the popularity of the sport has inevitably attracted soccer sponsors that provide funds in the form of sponsorship deals to be associated with the various competitions taking place around the continent. These global and local brands are important to the development of the sport, ensuring that the most popular brands on the continent are associated with the regional and continental competitions that command the most attention and support from fans. We take a look at 12 soccer sponsors that are involved in sponsorship of the beautiful game on the African continent.
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, 2:33 pm
South African president Jacob Zuma discourages the use of the “X” word. “I think we love using phrases in South Africa that … cause unnecessary perceptions about us,” he said. “I think we are not (xenophobic).” A planned demonstration against immigrants and foreign-born South Africans turned violent Friday as police tried to control the crowd with rubber bullets, water cannons and stun grenades. Some South Africans say immigrants are taking their jobs, or are dealing in drugs and prostitution. Some migrants had their businesses and homes and robbed and looted in the past week.
Tom Jackson, 2:19 pm AFKI Original
Just 2% of retail transactions in Africa are electronic. Cash is still king and small transactions — less than $2 — have hindered the growth of mobile money outside of its Kenyan heartland. The value of M-Pesa and similar services is questionable for Africans living on just a few dollars a day. The average M-Pesa transaction value is closer to US$30. It’s unsustainable for agents to serve lower-income segments. They can’t afford to get down to the level of very small transactions, limiting the effect of mobile money on the bottom of the pyramid.
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