South Africa: Latest News
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.
Dana Sanchez, 3:28 pm
Those who want to leave the ICC will have to take their case to parliament, which is dominated by the ANC. The ANC has been strongly in favor or leaving, and is expected to fight to withdraw. The opposition will fight back. The issue will come down to politics. The court’s ruling will force the parliament to open up the decision to the public — a critical part of the debate, a constitutional rights stakeholder said. Withdrawing from the ICC would be an abuse of justice and a sign that a government only cares about the accused, another expert said.
Dana Sanchez, 1:02 pm
It’s not just Africa that needs research and researchers for its own use. The world needs African researchers — 1 million of them in the next 10 years — and a leading U.K. university hopes to help bridge the gap. The world needs the unique knowledge and perspective that African researchers can provide to solve shared global challenges, says David Dunne, director of the Cambridge-Africa Programme. “We can’t have a situation where 14% of the world’s population — living on a continent with unique culture, diversity and environment — contributes less than 1% of published research output.”
Dana Sanchez, 11:27 am
Five winning African tech startups are in Silicon Valley competing with others from around the world and hopefully attracting venture capital. A lot of them are self-taught and lack formal training in venture creation and digital entrepreneurship, an event manager said. “They have built companies on binary codes and learned new skills through the mobile internet. If a Silicon Valley technology event is live streamed across the world, there are African entrepreneurs huddled somewhere, watching it and consuming every panel, consuming every fireside chat, taking notes, and then applying those notes to their local context.”
Peter Pedroncelli, 7:40 am AFKI Original
The rich will pay more tax. That’s one of the most riveting things to come out of South African Finance Minister Pravin Gordhan’s 2017 budget speech. Income tax increases across the board did not materialise, but wealthy South Africans will be taxed at a higher bracket. Taxpayers earning more than $115,000 a year will pay a 45% tax rate. Around 100,000 taxpayers will be affected. Investors and global credit agencies were keen to hear Gordhan’s speech — his second one in his second stint as finance minister. Here is a closer look at 12 things you should know about the 2016 South African budget speech.
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.
Dana Sanchez, 9:52 am
The surprisingly strong bull market in commodity prices in 2016 contributed to increased activity in mining and metals deals in Africa, says Quintin Hobbs, Africa mining and metals transactions leader at Ernst & Young. Organizations ran leaner and more efficient, with stronger balance sheets. The outlook improved so significantly through the course of 2016, that the predicted level of divestments and assets listed at rock-bottom prices at the beginning of 2016 just didn’t materialize, another expert said.
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