Markets: Latest News
Kurt Davis Jr., 10:56 am AFKI Original
Kenya has long been known for fantastic athletes, but not so much for entrepreneurs focused on the business of fitness. Kenya-born Saloni Kantaria Mathur ranked No. 1 in Kenyan women’s tennis and studied law in the U.S. before starting an indoor cycling studio in Nairobi. The Reform brand is unmistakably Kenyan and it’s not your average gym experience. Reform integrates live-streamed performance data tech into classes, bringing the competitive instinct into the workout. Mathur shared with AFKInsider what she learned as a female African fitness entrepreneur.
Staff, 8:15 am
Blockchain has applications in industries other than financial services, a stakeholder says. Start-ups are already offering products that cover specific use cases. Interest was intense at the Gartner Symposium/ITxpo Africa in Cape Town. Most of us do not understand TCP/IP protocol, but that doesn’t stop us from surfing the web and exchanging emails. In the same way, clients will come to trust blockchain the same way they trust the Internet. Organizations starting now on a blockchain journey will have a first-mover advantage.
Global Risk Insights, 12:13 pm
While the world electrification rate is roughly 84 percent, only 19 percent of the sub-Sahara Africa population is connected. The grid is unlikely to expand fast enough to satisfy demand. Pioneering business models relying on pay-as-you-go could push off-grid solar energy to reach 9 million African households by 2020. Despite the early success of off-grid solar energy access through pay-as-you-go payment models, challenges remain.
Dana Sanchez, 11:20 pm
Foreigners have been invited to invest in Ethiopia’s state-owned shipping and logistics company. Will telecommunications and banks be next? Ethiopia is one of the last African countries to have a state monopoly in telecoms. The U.S. hopes to bring its technology, know-how and managerial skills to Ethiopia. The American Chamber of Commerce of Ethiopia was launched in November. “The private sector needs a level playing field that allows fair competition with state-owned enterprises,” a U.S. stakeholder said.
Dana Sanchez, 2:22 pm AFKI Original
Shopping is changing in Africa. Formal retail developers are learning from the failures of malls in developed markets like the U.S., and applying new models to old ideas. African micro enterprises and small businesses will have a greater demand for shared space and flexible office space in the future. New or existing African office developments will need to apply design principles used in innovation labs, incubation centers and flexible work spaces, a stakeholder said.
Dana Sanchez, 11:06 pm
In 2016, South Africa was the top country in the world for greatest proportion of consumers using mobile devices to watch porn, according to data from Pornhub, the world’s largest porn portal. For the first time, South Africa made the list of top 20 countries for porn-watching traffic. That means South Africa is ahead of the rest of the continent. The jump can be attributed to an increase in Internet access and porn viewing by black people, according to News24.
Staff, 5:36 pm
Poor power supply is partly to blame for the Nigerian government’s inability to build a robust auto industry. That leaves vehicle imports as one of the only ways to meet local demand. Nigeria’s auto market is worth over $4 billion a year, but it does not translate into anything meaningful, a stakeholder said. Starting in 2015, stiff new tariffs were levied on new and used Nigerian vehicle imports. Imports fell more than 50 percent.
Kurt Davis Jr., 7:57 am AFKI Original
In cities from Victoria Island in Lagos, Nigeria to Maputo, Mozambique, gym memberships can be above $100 per month. Africans are paying higher fees than in more mature markets. Zumba classes are abundant, yoga is everywhere, and biking and running are an ever-growing trend in Africa. Putting cash into the facilities for these types of activities is lucrative. Scalability is still a concern but branding across borders and within regions is necessary for growth.
Peter Pedroncelli, 1:25 am AFKI Original
The year 2016 was not an easy one for South Africa, but investor outlook for the year 2017 certainly looks more positive. Having survived a tough year, investors are now looking at South Africa to gauge whether or not to invest their funds in the emerging market, but there are a flurry of reasons to give the country a second glance in 2017. We take a look 12 things that are expected to improve investor outlook in South Africa during 2017.
Global Risk Insights, 12:51 pm
Wildlife tourism represents 80% of total annual travel sales to Africa. Environmental crime deprives countries of future revenue. After China announced last week that it plans to end all commerce in ivory by the end of 2017, illegal poaching is back in the spotlight. Corruption remains the key enabler of wildlife trafficking. High-level members of poaching syndicates, sometimes government officials, are rarely convicted. The fight against environmental crime has to be addressed as a political issue. It’s the world’s fourth largest crime sector after drug smuggling, counterfeiting and human trafficking.
- Real Estate