Tag Archives: Africa
Africa: Latest News
Dana Sanchez, 4:31 pm
PIC may get international investment to buy Barclays Plc’s remaining 50 percent stake in Barclays Africa, worth around $4 billion, an unnamed source told Reuters. Any investor with PIC would have to meet South Africa’s government quotas on black ownership. “PIC has always looked at Barclays Plc’s retreat as an opportunity to create a black-owned bank, but there aren’t many people with deep pockets to make that happen,” an unnamed source said.
Dana Sanchez, 12:57 pm
More than 70 percent of the world don’t have a street address, and sub-Saharan Africa leads. About 200 million people live in slums — home to the informal economy that is creating jobs. Big box stores like Cape Town-based clothing retailer Foschini Group are tapping in to the economic buying power of informal settlements. They’re coming up with innovative solutions to deliver e-commerce purchases to people who don’t have addresses.
Dana Sanchez, 3:32 pm
Language is a barrier to investment in Africa, but economists say African innovators should think beyond English when developing innovations aimed at solving local problems. There are more than 3,000 languages spoken in Africa by some counts. Language barriers — especially an inability to communicate in English — have hampered trade in Mozambique, where Portuguese is spoken by more than half the population, and Rwanda, where Kinyarwanda is spoken by most Rwandans, but English is an official language.
Dana Sanchez, 12:55 pm
Gold mining companies, once the powerhouses of South Africa’s economy, are in a 20-year decline but illegal miners are thriving. Even school children are skipping school to make what they call “easy money” mining. Many communities considered traditional have permission to mine, but efforts to get their activities formalized and recognized under South African law haven’t materialized. Some people are calling for the creation of a legal artisanal and small-scale mining sector in South Africa.
Staff, 12:02 am
While officials in Beijing are expert in building vast media distribution networks such as those available in Africa, the Chinese have been far less successful in creating compelling content that people actually want to consume. By contrast, a certain genre of Chinese-language movies produced in Hong Kong — especially those featuring martial arts legend Bruce Lee — have been staples in African pirated videos since 1960s and ’70s. Even today from Cairo and Uganda to South Africa, Hong Kong’s martial arts films remain extremely popular.
Staff, 12:01 am
Obama’s push for LGBT rights has shifted attitudes globally but some are fighting it. Washington, D.C.-based World Bank lends money in developing countries. This year, it researched LGBT discrimination globally and collected data. The bank created a new advisor whose job is to report violence gainst LGBT in the 136 countries in which it does business. Fifty-four African countries want a new U.N. investigator suspended whose job is to investigate human rights violations against LGBT. There’s a good chance their resolution will pass.
Dana Sanchez, 1:46 pm
Nairobi traffic is among the worst in Africa. With 3.915 million people, the city has tried for years without success to solve the gridlock in the CBD. Kenya’s souped-up minibuses — some with names, flashing lights and onboard entertainment — are often blamed for the traffic. Kenyan regulators have tried repeatedly to ban them. Brian Wanyama is on a one-man quest to document matatus before they’re forced to disappear.
Dana Sanchez, 11:12 am
Africa’s largest lender, Johannesburg-based Standard Bank this year made $2 billion in loan commitments to Chinese-owned development projects in Africa, and it plans to help Chinese entrepreneurs seek African investment opportunities in areas such as retail. Access to credit remains a challenge for many Africans. Standard Bank says its opportunities lie in working “on the yuan’s internationalization and helping Chinese companies transform from … contractors to investors.”
Dana Sanchez, 5:45 pm
Elephant conservation in protected areas has positive economic returns comparable to investing in education and infrastructure, according to new research. In African game parks where elephant numbers are suffering due to poaching, tourist numbers are suffering too. There have always been strong moral reasons for conserving elephants, a study author said. “Our research now shows that investing in elephant conservation is actually smart economic policy.”
Kurt Davis Jr., 3:41 pm AFKI Original
Sub-Saharan African banks are late to the party. More than 75% of Africans lack access to traditional banking. Fintech offerings with the most potential are the ones that address the unbanked and underserved. Addressing Africa’s poor is impactful and a money maker, but it’s also time-consuming — something to consider if you want a quick return. Africans may be quick to try a mobile app or technology but end users are not always quick adopters. Here are five sub-Saharan markets with the most opportunities in fintech.
- Real Estate