Zambia: Latest News
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.
Dana Sanchez, 1:40 pm
Eight other countries in Africa besides SA will have radio telescopes contributing to the Square Kilometre Array network. The SKA will outperform the most advanced modern instruments in exploring exploding stars, black holes, dark energy and traces of the universe’s origins 14 billion years back. It’s the first time African countries are hosting global science infrastructure of this scope. South Africa will become home to the most powerful instrument ever used in radio astronomy when SKA is fully operational.
Dana Sanchez, 12:52 pm
The top three investor economies to Africa in 2015 were the U.S., ($66 billion), the U.K. ($64 billion), and France ($52 billion), according to a new U.N. report. China’s investment in Africa more than tripled to $32 billion in 2015, making it the fourth-largest investor on the continent. South Africa was the fifth largest investor in Africa at $26 billion. Investment into Africa overall was down 7 percent and South Africa was one of the biggest losers.
Dana Sanchez, 1:24 pm AFKI Original
A tourism entrepreneur who runs a Cairo-to-Cape Town cycling expedition predicts e-bikes are the future of African transport. “E-bikes will be just like the cell phone revolution,” says Henry Gold, founder of Tour d’Afrique. Gold sees a future where Africans will be able to go home and charge their e-bikes. Africa still has relatively few cars, but emissions are mostly unregulated and much higher than the rest of the world. With e-bikes, Africa has a massive opportunity to go down another road, says the U.N.’s head of transport.
Becca Blond, 7:00 pm
If you only have time to visit one region of Africa, make it Victoria Falls, the adrenaline-activity hub. Victoria Falls, which straddles the Zimbabwe/Zambia border, encourages visitors to test their bravery rafting the continent’s wildest commercially run river, or flinging themselves off a bridge attached only by a bungee cord. These activities are set against a backdrop of one of the seven natural wonders of the world, which means if you just want to hang out and admire the majesty of the falls, you can do that too.
Dana Sanchez, 11:56 am
MTN making a bid to buy Barclays Africa assets might sound far-fetched and ridiculous – but an MTN bank with operations in 14 African countries would shake up both the cellular and financial services industries. MTN has a track record in integrating big assets. Two new hires at MTN include top-ranking executives with heavy banking experience. Building its own fintech solutions would be expensive for MTN. The trend is for fintech startups to partner with banks rather than telecoms.
- Real Estate