Tanzania: Latest News
Peter Pedroncelli, 2:15 am AFKI Original
The African continent is home to some of the fastest growing economies on the planet, with numerous nations on the continent among the top 10 best performing economies globally. The best performing economies in Africa have benefited from government policies and structural reforms, which have resulted in strong inclusive growth. According to the International Monetary Fund’s (IMF) World Economic Outlook for 2016, a long list of African economies were in line to achieve positive growth above 3% for the year 2016.
Dana Sanchez, 3:04 pm
BitPesa, a bitcoin payments startup that launched in Kenya and expanded in Africa and beyond, announced a $2.5M round of funding. The Series A round is led by Silicon Valley-based industry investor Draper VC, with existing U.S. investors. Series A investors are willing to take on the risk when a new venture is generating revenue but not yet making a profit. BitPesa will use some of the funds to move to Luxembourg. The firm’s goal is to be the largest payment company in the U.K., Europe and Africa.
Dana Sanchez, 2:50 pm
About 90% of managed assets are concentrated in four countries including South Africa and Nigeria. SA leads, thanks to rules that allow them to invest 10% of assets through private equity. Nigeria is held back by trust issues. “The thought of using our pension fund for investment in public-sector infrastructure development is highly frightening given the well-known penchant for mismanagement inherent in public-sector institutions in Nigeria,” the Nigerian Labour Congress says. Pension funds are ideal for driving inclusive growth and social stability through long-term projects such as infrastructure, says consultancy firm RisCura.
Dana Sanchez, 10:32 am
Faced with an escalating price war at home in India, Bharti Airtel is looking to its African operations to reduce debt. India is one of the most competitive telecom markets in the world. The company lost $91 million in Africa in Q3 of 2016. Airtel has 22.14 percent market share in Nigeria and 34.1 million customers. Market observers in Nigeria say lack of access to foreign exchange for operators, falling revenue per user and customers’ lack of disposable income are hurting telecom operators in the country.
Global Law Firms Bypass South African Alliances And Set Up Independent Offices For African ExpansionBy Dana Sanchez, 2:20 pm
When apartheid ended, local law firms had unprecedented growth as SA re-entered the global economy. Leading law firms came calling and formed local alliances. “South African firms had to decide whether they wanted to be South African, African or global,” a stakeholder said. More recently, international firms have bypassed local ones, opening their own offices. SA is a jumping-off point for building networks of offices throughout the continent. Don’t expect the SA influx of international firms to end anytime soon, stakeholders say.
Dana Sanchez, 11:09 am
ECOWAS is credited with persuading Gambian dictator Yahya Jammeh to give up power. If there’s a lesson to be learned, it’s that it takes some external persuasion to remove a dictator. “Forget Trump,” a commentator said. “We in Africa were watching the Gambia and the drama there as African leadership for once, stood up to a tyrant and insisted he respect the outcome of an election.” This regional intervention represents a paradigm shift in African governance, an exiled Zimbabwean judge said. It’s no longer dictatorship as usual in Africa.
Dana Sanchez, 6:42 pm AFKI Original
Large numbers of Chinese migrants have followed the money to Africa, but no one really knows how many — not even close. Estimates range from 250,000 to 2 million. Experts say informed guesses are anything from speculative to “very problematic.” It’s a problem because inaccurate claims about the Chinese migrant population can contribute to xenophobic election rhetoric and violence, says a migration researcher. In many countries, statistics on migration are incomplete, out of date or nonexistent. “Statistics are political,” a stakeholder said. The data may be out of date but it’s the only data we’ve got.
Dana Sanchez, 1:43 pm AFKI Original
Barack Obama’s 2008 election as U.S. president inspired millions of Africans with hopes that strong ties to Kenya, country of his father’s birth, would mean increased U.S. involvement. Some believe Obama will leave office Jan. 20, 2017, falling short of those expectations. He has been blamed for not making African issues a top priority of his foreign policy. Others say he leaves a lasting legacy that will live on — especially in Africa’s young leaders.
Peter Pedroncelli, 8:00 am AFKI Original
African heads of state and politicians make use of social media to communicate with peers and the people which they serve. Twitter is becoming a popular short-message platform in which to connect with the masses, and Donald Trump is not the only world leader that loves to communicate with posts of under 140 characters. From South Africa to Nigeria, the high profile African heads of state tweet, retweet and reply to followers, offering their opinions on many issues while advancing their own agendas through social media. Here are 12 African heads of state who are on Twitter.
Staff, 3:13 pm
Morocco’s investment in sub-Saharan Africa the past decade represents 85% of its overall foreign direct investment stocks. The story of its national carrier, Royal Air Maroc, testifies to its expansive economic ambition on the continent. Morocco has expanded economic ties with many African countries through trade and investments since it left the African Union. It now seeks to return to the A.U., boost these ties and settle the unresolved matter of the Western Sahara. It has support of 28 African countries. Leaving the A.U. was a “strategic mistake,” a stakeholder said. “Africa is our natural home.”
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