Features: Latest News
Peter Pedroncelli, 5:41 am AFKI Original
The allure of lucrative contracts continues to attract numerous African players to the Chinese Super League, with Nigerian striker Brown Ideye becoming the latest addition to the list of professionals swapping Europe for China. The Super Eagles attacker has completed a deal that will see him playing alongside national team captain John Obi Mikel at Tianjin Teda. The 28-year-old has made the decision to leave Greek side Olympiakos in favour of a three-year deal with his new side in China.
Peter Pedroncelli, 7:40 am AFKI Original
The rich will pay more tax. That’s one of the most riveting things to come out of South African Finance Minister Pravin Gordhan’s 2017 budget speech. Income tax increases across the board did not materialise, but wealthy South Africans will be taxed at a higher bracket. Taxpayers earning more than $115,000 a year will pay a 45% tax rate. Around 100,000 taxpayers will be affected. Investors and global credit agencies were keen to hear Gordhan’s speech — his second one in his second stint as finance minister. Here is a closer look at 12 things you should know about the 2016 South African budget speech.
Dana Sanchez, 2:43 pm AFKI Original
South Africa is invariably cited in discussions about jobless rates in Africa, but two thirds of African countries have higher unemployment. Africa is witnessing its best growth performance in decades, yet the world’s youngest continent, demographically speaking, continues to have high unemployment with few signs of recovery in 2017. High unemployment is a key factor shaping young people’s decisions to migrate. The continent’s youth population is expected to double to 830 million by 2050.
Peter Pedroncelli, 9:58 am AFKI Original
The transfer season is a busy time for European soccer, and this includes the January transfer window which falls in the middle of the season. As it often happens at this stage of the campaign, numerous African players were the subject of transfers from one team to another in order for sides to strengthen their squads going forward into the second part of the season. We take a closer look at 12 of the African players who have made moves during the January transfer season.
Kurt Davis Jr., 1:00 am AFKI Original
The number of urban Africans almost doubled between 1995 and 2015 and is expected to double again by 2035. Rapid growth is driving the African phenomenon of the megacity — an urban area with a population of at least 10 million. Megacities have economic benefits – economies of scale, innovation, clusters of skilled labor, and higher incomes. But they also struggle with congested slums, unemployment and out-of-control traffic. More than 50 percent of the African urban population lives in slums.
Dana Sanchez, 11:07 am AFKI Original
South African media giant Naspers is launching its 18-month-old internet TV service ShowMax in Poland. It plans to provide hyper-local content and original productions rather than trying to compete with expensive shows designed to appeal to audiences worldwide. It’s competing with the much older, bigger, more established U.S. firm Netflix, which launched in 1998. Netflix is also commissioning original content, but it has an overseas problem, one commentator said. “It just doesn’t have the amount of local content that some of the (streaming and pay TV) competitors have.”
Dana Sanchez, 12:25 pm AFKI Original
Since the Iranian Revolution in 1979, some members of the international community including the U.S. have accused Iran’s government of sponsoring terrorism. South Africa is not one of the accusers. On the contrary, South Africa is expanding trade and defense commitments with the Islamic republic, with plans to expand tourism ties between the two countries. A potential loss of tourists to the U.S. from Muslim-majority countries could be South Africa’s gain as President Donald Trump attempts a travel ban and threatens to tear up the Iran nuclear deal.
Tom Jackson, 12:35 pm AFKI Original
Despite the hype, profitability is still an unattainable ideal for Nigerian online shopping giants Konga and Jumia. Believers say e-commerce in Africa is “absolutely a long-term play.” They expect the short- and medium-term to be challenging. Players are still working on fast and easy payments and refunds, and trouble-free deliveries and returns. “It takes a long time for consumers to become comfortable shopping online, and it’s hard and expensive to accelerate this,” a stakeholder said. Investors aren’t all put off though. The potential prizes are too great.
Kurt Davis Jr., 7:45 am AFKI Original
Everyone knows that Africa leapfrogged landlines to mobile phones, but without mobile, the continent is unconnected. Less than 20% are connected to the internet. Business and finance have become online activities globally. Africa needs to get up to speed to compete. Private investors are looking beyond the usual suspects. These are the African countries with the best opportunities for private investors to expand internet capacity in 2017.
Keren Mikva, 1:11 pm AFKI Original
In the developing world, many water-fetchers — often women and children — do the back-breaking work of lugging water buckets over their heads or by hand. The Hippo Water Roller won the 1997 South Africa Design for Development Award. The 90-liter drums can carry 90 kilograms (198.4 pounds) of water and can be pushed or pulled across rough terrain. Check out these 17 things used across the globe that were invented by South Africans.
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