The re-election of the People’s Movement for the Liberation of Angola (MPLA), and a brave decision by Jose Eduardo dos Santos to step down should be celebrated, but with this development comes a list of opportunities and challenges. The stepping down of President dos Santos should not be understated for its rarity in the context of politics in other sub-Saharan African countries.
Markets: Latest News
Peter Pedroncelli, 6:15 am
The Johannesburg Stock Exchange is set to welcome a new tech listing in October, with data technology company 4Sight Holdings joining the South African bourse next month. The development represents the first new tech listing on the Johannesburg Stock Exchange in almost three years, with 4Sight Holdings listing on the JSE’s Alternative Exchange – AltX. The last JSE tech listing was Cartrack in 2014.
Peter Pedroncelli, 6:24 am
South African IT firm Datatec has completed the sale of U.S. subsidiary Westcon-Comstor’s operations in North America and Latin America, as well as 10 percent of Westcon-Comstor to Fortune 500 company SYNNEX. The deal could be worth up to $830 million, with $630 million paid in cash and up to $200 million payable as a cash earn-out, subject to Westcon Americas meeting pre-approved gross profit performance targets.
Kurt Davis Jr., 8:02 am AFKI Original
The economies of sub-Saharan Africa have felt the pain of 2015 and 2016, and African currencies have experienced volatility as a result. The year 2017 has been a partial year of recovery or adjustment, but there remain a selection of African economies that continue to experience issues with their currencies as a reflection of the problems that are affecting them at home. Here we take a look at four prime examples.
Peter Pedroncelli, 6:14 am AFKI Original
The bigger they are, the harder they fall. Ten tech stocks did poorly on the Johannesburg Stock Exchange over the course of the year which ended on June 30, and investors linked to those particular companies will be disappointed with the performances of their stocks during that period. While big names such as Vodacom and Naspers grew their valuations on the JSE, the likes of Telkom and Blue Label Telecoms lost value over the period.
Kurt Davis Jr., 1:20 am AFKI Original
The Starbucks model is interesting for investors and customers within the East African context. There are other local examples of similar concepts working, such as Sugerpie Cupcakes in Kenya. Premium product for premium price at low cost is a winner in the region, but making it work is not as simple as observers may imagine, and there are numerous reasons why a premium franchise such as Starbucks may struggle to work in East Africa.
Peter Pedroncelli, 3:47 am AFKI Original
The Johannesburg Stock Exchange has seen a mixed bag of success and failure for tech stocks over the last year, with some companies managing to provide positive returns for investors while others fell out of favor and lost value. Nine tech stocks in particular did well over the course of the year. While big names such as MTN, Telkom and Blue Label Telecoms lost value over the period, tech stocks such as Vodacom and Naspers grew their valuations on the JSE.
Kurt Davis Jr., 5:02 am AFKI Original
Political angst and turmoil combined with terrorism has slashed tourism in numerous countries across the world, including on the African continent, and countries are desperate to reignite tourism after the damage dwindling numbers have caused. But Tunisia, Kenya, and Egypt are now overcoming the issues that have plagued their countries in an effort to see tourism numbers return, and early signs are good. Much still needs to be done, but these three nations are on the right track.
Peter Pedroncelli, 10:43 am AFKI Original
Women have always been important role-players within tech in South Africa, and now more than ever, there are numerous women who are influencing tech in positive ways. While gender diversity in the tech sector remains challenging, some women stand out as excellent role models who are making their mark on a male-dominated industry. From startup executives to tech savvy philanthropists, these women show what a passion for tech and strong leadership qualities can produce in the South African context.
Peter Pedroncelli, 5:45 am
This week Vodacom Tanzania completed the largest initial public offering ever seen on the Dar es Salaam Stock Exchange (DSE) in its 19 years of existence. Vodacom raised $219 million for the listing, becoming the first to comply with new regulatory changes requiring telecoms companies in the country to list at least 25 percent on the Dar es Salaam Stock Exchange
Peter Pedroncelli, 6:37 pm AFKI Original
History was made in 2016 when Africa could finally celebrate its first startup unicorn, with the Africa Internet Group, now known as Jumia Group, being valued at over $1 billion in February last year. In doing so, it became the first privately owned startup to gain unicorn status, joining an elite group of 150 or so companies around the globe. The company is based in Lagos, Nigeria, and operates as a subsidiary of Millicom International Cellular S.A, using a sales approach similar to Amazon.
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