Morocco will be home to the world’s largest concentrated solar power plant when it is fully built in 2018, producing enough energy to power over a million homes in the country once it is completed. The Noor Complex will lower carbon emissions by an astonishing 760,000 tons per year when it is fully operational. The first of four phases was completed in February 2016, with the Noor 2 CSP and Noor 3 CSP still under development – it is around 75 percent built at this stage. The fourth phase of the project was launched by Morocco’s King Mohammed VI this month.
Features: Latest News
Kurt Davis Jr., 2:00 am AFKI Original
Short-term volatility and uncertainty in the African growth story create opportunities for hedge funds. Hedge funds generally operate more flexibly than private equity, and they have the creativity to generate bond-like returns that outpace inflation. Critics say hedge funds have limited liquidity in an opaque world. The riskiest play — but with big returns — is in agriculture and land. Where land is for sale in Africa, investors are making a play for a limited resource, especially when it’s arable, ripe for production or ideal for commercial and residential construction.
Tom Jackson, 12:36 pm AFKI Original
Across Africa, banks are choosing to work with startups rather than compete against them. Citibank has run mobile challenges in Nairobi, Standard Bank has incubators in South Africa, and Barclays has just selected its second cohort in its Cape Town-based accelerator. Fintech startups are reimagining the concept, delivery and consumption of financial services in ways banks have been unable. However, such companies lack the financial clout and access to customers to ensure mass uptake of their solutions. Banks can offer them this.
Peter Pedroncelli, 7:53 am AFKI Original
Senegalese winger Sadio Mane has been in stunning form for Liverpool this season, earning him a coveted place in the PFA Premier League Team of the Year. The Professional Footballers’ Association announced their best 11 of the season thus far on Thursday, and of the 11 players selected by position, Mane was placed within his favoured right wing role. After missing out on the PFA Player of the Year shortlist last week, the Teranga Lions star will be pleased to have made it into the team of the year.
Peter Pedroncelli, 3:25 am AFKI Original
Many of us take access to electricity for granted, but only two out of every five people in Africa have decent access to energy to power lights and other electrical appliances throughout the day. Around 625 million people in Sub-Saharan Africa have no access to electricity, according to the International Energy Agency. We take a look at 12 Sub-Saharan African countries with the best access to electricity.
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.
Tom Jackson, 11:52 am AFKI Original
In most of the developed world, reliable internet costs less than 1% of average monthly income. In Africa, it’s 18%. Governments are vital to drive down internet prices in Africa, stakeholders say. When connectivity costs drop to 2% of monthly income, reaserch shows the internet becomes accessible to all. Just five of 27 African countries surveyed have achieved the 2% affordability target. Free internet access is the simplest way to tackle economic inequality, a stakeholder said. “It allows people to find and apply for jobs, start online businesses, and generally engage with the economy around them.”
Peter Pedroncelli, 7:23 am AFKI Original
The Professional Footballers’ Association announced their shortlist for the annual PFA Player of the Year award on Thursday, with six English Premier League stars on the list, but Liverpool’s Senegalese player Sadio Mane was not included. The Teranga Lions attacking player has been in impeccable form at Anfield this season after joining the club in an African record deal worth around $45.1 million.
Peter Pedroncelli, 1:19 pm AFKI Original
Following the turmoil of the last few weeks in South African politics, and an unpopular cabinet reshuffle imposed by president Jacob Zuma, the country has a new finance minister, with Malusi Gigaba now in charge of treasury. Popular previous minister Pravin Gordhan was axed from the role, and Gigaba is expected to fill the void left by the hard-working MP who Zuma saw as a threat. We take a look at 12 things you might not know about South Africa’s new finance minister, Malusi Gigaba.
Peter Pedroncelli, 7:02 am AFKI Original
African football has become a force to reckon with on the world stage, and an indication of which national teams are the best on the continent comes in the form of the FIFA Ranking, which ranks all members of world football’s governing body. Below are the top 10 ranked African national teams in world football for the month of April, according to the FIFA ranking.
Kurt Davis Jr., 2:33 pm AFKI Original
Investors are strategically betting on the upside in Francophone Africa due to strong economic growth rates and a stable CFA franc. Lusophone Africa also presents opportunity. Low assets prices have replaced the exorbitant numbers of the oil-and-gas heyday, particularly in Angola and Mozambique. Debt restructuring can restore some confidence in Mozambique’s economic system. Private investors are finding a government more willing to deal on better terms, and companies that are pricing assets at fairly digestible prices.
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