South Africa: Latest News
Dana Sanchez, 2:35 pm
The 26-acre Atlantis Resorts in Hawaii will be similar to the over-the-top Atlantis The Palm Dubai, which has a water park, aquarium, dolphin encounter and more than 20 restaurants. South African-born hotel magnate Sol Kerzner developed some of the country’s top hotel brands and helped put South African tourism on the map. Kerzner sold his stake in Kerzner International to a Dubai firm in 2014 but the company still bears his name. Other owners include investment banker Goldman Sachs and the L.A. investment firm Colony Capital.
Staff, 9:19 am
South African anti-apartheid activist Steve Biko would have been 70 years old today. He was killed at age 30 by South African police while in detention. Biko fought to promote black consciousness during apartheid. While in medical school, he co-founded South Africa’s Black Consciousness Movement, which rejected apartheid and encouraged pride in racial identity and cultural heritage. Google is honoring the memory of Biko today with a doodle, altering the logo on its homepage. Apart from Nelson Mandela, nobody symbolized the struggle against the apartheid more than Steve Biko.
Dana Sanchez, 2:07 pm
Analysts are watching to see if Retail Africa is a potential prelude to a full Steinhoff-Shoprite takeover. Steinhoff has been expanding outside South Africa. If the two firms merge completely, the resulting retail empire will have more than 9,000 stores globally compared to Walmart’s 11,500. Steinhoff sells lower-end furniture, apparel and home goods. A Shoprite merger will add groceries. “Retail Africa, locally bred, will have the required size and scale to compete with any other international retailer,” the companies said in a joint statement.
Kurt Davis Jr., 11:34 am AFKI Original
Businessman Trump knows better than anyone that you must have the right friends to survive. Tunisia could be the surprise special relationship. A successful democracy there would boost the fight against terror. Nigeria could go either way with Trump. He wants to help oil in the U.S. This could hurt Nigeria. Political and financial engagement with Egypt, South Sudan, and South Africa will see some rebalancing. Trade that benefits the U.S. is low-hanging fruit for Trump, but how does he view AGOA? He promised to re-evaluate all trade agreements.
Di Brown, 10:49 am
My muscles strain, my legs quiver, and in spite of the cold I am sweating. With extra effort I stand up triumphantly. Finally, my wetsuit is on. I learned to surf at Jeffreys Bay in South Africa’s Eastern Cape. I have good balance and I love the ocean. How could I fail? The first wave tips me off the board. The second sends me flying. By the tenth wave I have progressed to the bent knee. After two hours, I stand up shakily for 10 seconds. Sand and waves are a natural exfoliator. It’s a better workout than the gym and you get an added bonus of a full body facial from nature. You also get to watch the serious surfers in JBay.
Tom Jackson, 4:20 am AFKI Original
Drones are, without doubt, one of the next big things of Africa’s tech revolution. Slowly but surely, they are being introduced in innovative ways to help with the continent’s development. In an interesting move, the City of Cape Town last week announced a partnership with local tech firm WeFix to use drones to spot sharks at Fish Hoek and Muizenberg beaches.
Dana Sanchez, 9:32 am
Sibanye Gold, South Africa’s largest gold producer, is buying Stillwater Mining Company in Montana — the only N. American producer of platinum and palladium. The purchase will make Sibanye the world’s third-largest platinum producer. Sibanye counts among its largest shareholders SA’s government pension fund. Stillwater shares surged Friday on the news. The sale makes sense because of the strengthening U.S. dollar, which has hurt Stillwater in export markets. “With Mr. Trump becoming president … he’s probably more friendly toward mining and sees the necessity of it,” the Sibanye CEO said.
Kevin Mwanza, 6:28 am
South Africa will promote pupils who score 20 percent in Mathematics from Grades 7 and 9 to Grade 10 or Further Education Training (FET) after the government lowered the Mathematics pass mark from 40 percent, as the nation steps up efforts to deal with one of its biggest problems in the education sector. Authorities in the Western Cape Province however, said the mark should be adjusted to 30 percent,
Dana Sanchez, 6:12 pm
One of President Jacob Zuma’s most vocal critic, Mathews Phosa got rich in post-apartheid South Africa. He says he did so on his own deals, not through the country’s black economic empowerment policies. Zuma has diminished and devalued the ANC, Phosa said. “There is a way out for the ANC. We must be guided by honesty and integrity.” Some South Africans have asked Phosa to run for office. He says his energy is in his businesses, but he’ll be there for South Africa if called. Phosa won the African version of the Nobel prize this year and dedicated it to Mandela.
Dana Sanchez, 11:04 am
One of South Africa’s largest banks bought a majority stake in the team that built the country’s largest mobile payments product. Africa has the highest mobile money adoption rate in the world, but it’s hardly universal, catching on more in some countries and less in others. While banks and mobile payments startups would like to see large-scale adoption of mobile money, the reality is cash is likely to remain king in Africa — internet penetration and trust in the financial system are low on the continent.
- Real Estate