Features: Latest News
Peter Pedroncelli, 1:49 pm AFKI Original
For the Nuba, wealth is measured in cattle. The Nuba people of Sudan’s Southern Kordofan Province have been historically discriminated against by the Arabic regimes that have been in power. In 2011, war broke out between the Sudan government and rebels in the Nuba Mountains. Conflict continues to this day, with humanitarian aid blocked. Sudanese journalists are banned from reporting on the war, and face potential imprisonment if they dare to cover the ongoing conflict in the region. Here are 14 things you didn’t know about the Nuba people.
Ann Brown, 1:20 pm AFKI Original
Two young women hope to unite the Sudans with a digital media model for post-conflict Sudan. Sudanese internet use is robust. Sudan ranked No. 41 out of 201 countries for internet penetration. It has more internet users than Belgium. These entrepreneurs must overcome challenges unheard-of in the west.
Tom Jackson, 1:00 am AFKI Original
South African startups were the most popular in Africa for investment in 2016, with Cape Town and Johannesburg establishing themselves as hubs. Junk status could have a serious impact on this. Michael Jordaan, former CEO of South Africa’s First National Bank, is now an investor in innovative tech startups. The ratings downgrade is bad news for the economy as a whole but startups will be less affected than larger firms, he told AFKInsider. “Startups need to dominate a niche at first and in this sense the macro economy is a very small factor,” he said. “Startups should take comfort that they will survive and thrive if they keep their customers happy.”
Ann Brown, 11:23 am AFKI Original
Tired of seeing Africa portrayed in a negative light, Diane Audrey Ngako left her Paris job as social media editor at Le Monde to start her own digital media platform. Visiter l’Afrique is all about Africa’s assets and opportunities. Interactive and collaborative, the site is dedicated to African tourism and culture. “Africa is mainly represented by non-Africans,” Ngako told AFKInsider. “They usually talk about a sordid continent where only famine, wars and poverty happen. It’s time for us to portray the Africa we know, the Africa we see. The Africa of our dreams.”
Peter Pedroncelli, 4:27 am AFKI Original
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.
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.
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