Tanzania: Latest News
Kurt Davis Jr., 9:54 am AFKI Original
As commodity prices have fallen, African manufacturing has increased leverage — and the attention of investors — to garner more foreign investment. Tanzania is probably one of the easier bets if you are following the crowd. Success stories include Kenya-based Catalyst Principal Partners, an East Africa-focused private equity firm which invested in Zenufa Laboratories, a leading Tanzanian pharmaceuticals manufacturer. Catalyst also invested in Chemi Cotex, which makes toothpaste, skin and hair products. Both involve non-food and beverage consumer goods that are manufactured locally. Both have taken market share due to quality products and competitive pricing.
Staff, 12:32 pm
There’s a huge unmet demand for small business financing in sub-Saharan Africa. Africa-based bitcoin startup BitPesa and Germany-based Bitbond have partnered to help change that. Bitbond’s role includes checking the creditworthiness of applicants and determining an interest rate. About 10% of Bitbond’s users are from sub-Sahara. The partnership means a small business owner can receive a loan from investors from all over the world within 20 minutes, a stakeholder said — “an unprecedented level of innovation and convenience in the entire online lending space.”
Dana Sanchez, 10:10 pm
Luanda is still the world’s second most expensive city for expats after Hong Kong, but rent for office space fell almost 50 percent in the past two years. Demand has virtually ground to a halt in the region’s top oil-producing country. Rent has has also fallen for office space and luxury homes in Nairobi, where there’s an oversupply. Kenya became a hotspot for oil and gas exploration in 2012. With the price of crude down more than 50 percent since mid-2014, Nigeria, the region’s second-largest oil producer, is in recession. One bright spot: industrial space rent is rising in Kenya.
Peter Pedroncelli, 3:05 am AFKI Original
Central banks are the national banking institutions that provide financial and banking services for countries’ governing and commercial banking system, including lending money. African countries have some of the highest interest rates in the world, with some even reaching as high as 23 percent. By way of comparison, the U.S. Federal Reserve recently revised the country’s interest rate to 1 percent, while most of Europe’s central banks have interest rates at between 0.25 percent and 2 percent. We take a look at 13 African countries with the highest central bank interest rates.
Kurt Davis Jr., 5:44 pm AFKI Original
Africans are demanding more meat in their diets, but consumption may be limited because there are not enough commercial livestock owners producing affordable food. Firms are gobbling up arable land, not just for crop production but also for livestock and cattle. Investment shops are slowly redirecting capital to this subsector of agriculture. Nigeria is in tough times, but people still have to eat. About 45% of rural households own livestock, and meat consumption is strongly correlated to livestock ownership in Nigeria. Fewer than 10 percent of livestock owners function as a business. Most are just supporting the household livelihood.
Peter Pedroncelli, 5:40 am AFKI Original
Africa is the new tech frontier, with a great deal of potential and passion for technology that should translate into the right environment to nurture and grow successful African tech startups, but obstacles and struggles remain. These issues scupper the necessary investment and growth that these startups require so that they can become sustainable and successful on a continental and global scale. We take a look at 12 things that need to be addressed in order to help struggling African tech startups.
The Conversation, 9:16 am
Disruptive competition through technology can benefit consumers, but it also raises socioeconomic issues. Africa is no exception. There are concerns that Uber, with its first-mover advantage in the ride-sharing market, is growing into a monopoly despite the benefits to consumers. Traditional metered taxis are seeing red. In South Africa, new entrants into the ride-sharing app market have made little progress. The picture is very different in Kenya. Safaricom appears to have overcome the seemingly insurmountable first-mover position enjoyed by Uber.
Staff, 1:01 am
Accessing utilities in the Western world is relatively straightforward. You have an address, a bank, and a measurable credit rating. Service providers know you have credit in place to pay for the service in advance. However, if you are one of the millions of people across Africa who are unbanked, the process is not nearly as easy. Africans have been forced to find alternative solutions to solve the problem and drive innovation as they do so. By ensuring people have access to credit and services, organisations can open further access to infrastructure.
Peter Pedroncelli, 2:22 am AFKI Original
Africans who tweet don’t like to talk about brands nearly as much as their American counterparts. Instead, Africans are increasingly talking politics as Twitter comes of age in Africa, according to a London-based communications firm. Previous research showed that Twitter in Africa was more of a space for social interaction. Now serious debate about politics and government prevails. Twitter continues to be one of the most popular social networks available in Africa, enabled through a heavy mobile usage and apps that cater to smartphone users.
Dana Sanchez, 11:52 am AFKI Original
Africa has been reluctant to adopt GM food technology for crop production, but that’s changing. Many African countries are willing to overcome domestic and international opposition to GM technology to boost their agriculture sector. Just four African countries allow GMO crops for cotton. In Africa, only South Africa grows GM food. Opponents urge African countries not to commercialize GM crops, saying it will put their agricultural sector in the hands of large multinational agri-businesses and hurt biodiversity. Proponents say GM crops are as safe.
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