Zambia: Latest News
Keren Mikva, 2:56 pm
Nine out of the 10 biggest produce exporters to the U.K. are E.U. member countries. Potential changes to E.U. tariffs and the falling value of sterling have forced some retailers to consider sourcing from different countries. U.K. produce importers say they expect to see more produce from Africa. South Africa is already the No. 2 source of fresh fruit to the U.K. after Spain, and Kenya may become a beneficiary of the changing trade patterns.
Dana Sanchez, 3:06 pm
Much of the current real estate investment in Africa is undertaken by private equity funds. Several other investor types are deterred and largely absent due to legislative restrictions, risks around money laundering and the inward-looking nature of African markets. Overseas pension funds, for example, held back because of legislative restrictions and only sought exposure to certain African markets once these were lifted.
Keren Mikva, 9:38 am AFKI Original
Beginning as a YouTube celebrity in her home country of Uganda, Anne Kansiime has transformed into an international star. Despite much of her material focusing on her life as a Ugandan woman, Kansiime’s comedy resonates around the world. “People, let’s be ourselves,” Kansiime urges fellow Africans. “Let’s own our ‘Africanness.’ If we all start being proud of who we are, the Kim Kardashians of the world will be out of business.”
Dana Sanchez, 3:41 pm
Energy represents more than 15 percent of the total cost of mining production — reason enough to reduce energy use. But mining companies tend not to pay attention to cost during boom times. The collapse of the emerging market commodities boom has miners scrambling to reinvent themselves. With ample wind and solar at their disposal, 80 percent of new African mines are expected to be partly clean energy-dependent by 2026. In Africa, the future power demand from mining will come overwhelmingly from Southern Africa, says World Bank.
Dana Sanchez, 12:23 pm
Global tech and mobile giants are increasingly involved in Africa’s 314 active tech hubs. New tech hubs are opening on a weekly basis, according to new research by GSMA, the powerful mobile trade and lobbying association. GSMA recently launched its own innovation fund to tap local startups. Regardless of their type, it’s the facilitator role of tech hubs that explains their proliferation in Africa.
Kurt Davis Jr., 10:41 am AFKI Original
Zambia’s economy appeared to be improving. The kwacha went from the world’s third worst performing currency in 2015 to the world’s best in 2016. Then Zambia said it wanted an IMF bailout for its ballooning national debt. Creating more uncertainty, the Lungu administration said bailout negotiations only be finalized after the August general election. The incumbent said he will continue bailout discussions. Rival Hichilema may be against the bailout. If bailout talks fail, the markets will send a response to Zambia that will overshadow any election outcome.
Kevin Mwanza, 8:41 am
Africa has had a busy elections calendar in 2016. The year opened with a mixed bag of dramatic elections and referendum in the first quarter of the year. There has since been a haitus in Africa’s voting calendar that gave the continent a whiff of fresh air to refocus on socio-economic and security matters before the beginning of another polling season. August is now shaping up to be the ‘super month’ for elections on the continent with at least five elections scheduled to take place.
Julia Austin, 2:21 pm AFKI Original
A former member of the South African police force noticed a gap in high-level security for the private sector, and he capitalized on it. Chris Beukes’s TSU Protection Services has grown from a single office in Cape Town to a multinational business in at least 14 countries. Clients have a mobile app as extra protection when trained professionals aren’t at their side. A quick shake of a cell phone alerts TSU to danger, and sends out video surveillance.
Lillian Mutiso, 2:47 am AFKI Original
Zambia, a landlocked nation with a population of 13.8 million people, is one of Africa’s most politically stable democracies, since attaining independence from Britain in 1964. The Southern Africa nation is set to hold a presidential and general elections on August 11, 2016. The election is shaping up to be one of the most controversial and has raised questions from the international community about the credibility of the process.
Dana Sanchez, 3:56 pm
Tsogo Sun has been reluctant to launch in new countries due to uncertainty in gaming legislation. The firm said it generates nearly 90 percent of its hotel and casino revenue from the South African market. Tsogo Sun also has hotels in Kenya, Mozambique, Nigeria, Tanzania, and Zambia. Sun International, its chief competitor, has followed a different expansion strategy by focusing on international markets. “Maybe one day when we completely run out of things to do in South Africa,” said Tsogo Sun’s CEO.
- Real Estate