Date Archives for November 2016
Dana Sanchez, 3:50 pm
An Israeli garment firm manufacturing in Ethiopia just made its first shipment to the U.S. for Sweden’s H&M. Ethiopia has all the key elements for manufacturing — cheap labor, government support, and access to the U.S. through AGOA, the Israeli CEO said. Ethiopian garment workers start at about $21 a month compared to Bangladesh’s minimum wage of $68 per month and China’s average monthly wage of $500 in the textile sector.
Dana Sanchez, 1:39 pm
There is a gap for hospital services in Africa and property investors can benefit from this with healthcare real estate investment trusts, an expert says. A REIT is a company that owns, and in most cases operates, income-producing real estate. Large hospital owners like Netcare or Life Healthcare in South Africa could sell hospitals to a property manager who runs a healthcare REIT. The REIT would then lease them back. REITs provide investors with a liquid stake in real estate, special tax considerations and typically high-dividend yields. In more mature markets, healthcare REITs are often popular investments.
Dana Sanchez, 10:46 am AFKI Original
Currency depreciation and rising inflation have made investing a challenge in some African countries. A global private-sector development group identifies four African countries that have potential for climate-smart investment. These investments will make energy more accessible and infrastructure more resilient as climate change threatens to undermine developmental gains. South Africa is ahead of the game. With 90% of its electricity from coal, SA has approved 79 renewable energy projects by independent power producers. The cost of wind and solar has decreased more than 70%, and is now competitive with new-build coal, IFC reported.
Kevin Mwanza, 9:06 am
South Africa is set to legalize the cultivation and use of marijuana, locally called dagga, becoming the first nation in Africa to permit its medical use by April next year after the Parliamentary health committee pedaled implementation of a proposed bill. The use of high quality marijuana for prescribed medication will be legalized by February 2017, following efforts by the MCC to amend the Medicines and Related Substances Act
Kevin Mwanza, 8:44 am
Foreign investors in Tanzania are considering pulling out of the nation or expanding operations into other countries due to higher taxes introduced by President John Magufuli in efforts to drive the economy by cracking down on revenue evasion and corruption. Magufuli’s government has already increased taxation on mobile money transfers, banking, and tourism and cargo transport service providers.
Ann Brown, 8:12 am AFKI Original
A survivor of the Rwandan genocide, entrepreneur Marcel Mutsindashyaka chose to use the media, not for revenge, but for peace building. His Rwandan media and IT company has helped restore unity in the country by engaging youth. It is now the second most popular news website in Rwanda. Mutsindashyaka was chosen to be in Obama’s Young African Leaders Initiative. The experience “opened my mind from local to global perspective,” he told AFKInsider. “From this I realized that there is potential for the U.S. and Africa to collaborate for mutual benefit.”
Joe Kennedy, 7:00 am
If you’ve ever wondered what it’s like to jump off a cliff into the sea, watch this video of local kids at Bat’s Cave, South Africa. Located in East London, Bat’s Cave is accessible only at low tide. The Bat’s Cave Trail in the Nahoon Point Nature Reserve winds along a boardwalk with breathtaking views, past an excavation site where the oldest known human footprints were found in 1964. Dating back 124,000 years, the site is still being excavated. The trail winds along sandstone formations through several coves and steep sandstone cliffs.
Peter Pedroncelli, 6:14 am
Spaniard Jose Antonio Camacho looks likely to be named the new coach of 2017 Africa Cup of Nations (AFCON) hosts Gabon. It is not yet officially confirmed, but seems likely at this stage. This is according to the Spanish manager himself, who revealed the news to AFP.
Peter Pedroncelli, 3:49 am AFKI Original
The 2017 FIFA Confederations Cup draw took place in Kazan this week, with the eight teams taking part in the World Cup warm-up tournament placed into two groups. Seven of the teams are already known, with the champions of the various Confederations joining 2014 World Cup winners Germany and hosts Russia for the draw.
Dana Sanchez, 1:29 pm
Canada’s renewed commitment to Africa seems strategically timed to coincide with uncertainty about future U.S. commitment. President elect Donald Trump has tweeted almost nothing on the subject. Canadian Prime Minister Justin Trudeau just returned from his first African trip as head of state, unveiling a host of spending initiatives that support gender equality. “I’m hoping that the new president of the U.S. will be inspired by Canada’s position,” a stakeholder said. Absent from Trudeau’s agenda was discussion of freedom of speech.
- Real Estate