Tag Archives: Africa

Africa: Latest News

  • Why Did Standard Bank Join The R3 Blockchain Consortium After Others Quit?

    R3 blockchain consortium By Dana Sanchez, 3:29 pm

    Johannesburg-based Standard Bank is the latest to join the R3 consortium after some global heavyweights pulled out. The network represents a collaboration of 75-plus banks exploring blockchain as a solution for digital payments. Goldman Sachs, Santander, Morgan Stanley and the National Australian Bank have quit the NYC-based R3. Their departure raises questions about how much distributed ledger and blockchain technology are worth to the financial sector. One expert says they could have quit over competition and not wanting to share.

  • 12 Fastest Growing Economies In Africa During 2016

    Africa's fastest growing economies By Peter Pedroncelli, 2:15 am AFKI Original

    The African continent is home to some of the fastest growing economies on the planet, with numerous nations on the continent among the top 10 best performing economies globally. The best performing economies in Africa have benefited from government policies and structural reforms, which have resulted in strong inclusive growth. According to the International Monetary Fund’s (IMF) World Economic Outlook for 2016, a long list of African economies were in line to achieve positive growth above 3% for the year 2016.

  • US Investors Lead $2.5M Funding Round In Kenyan Bitcoin Startup BitPesa

    Kenyan Bitcoin startup BitPesa By Dana Sanchez, 3:04 pm

    BitPesa, a bitcoin payments startup that launched in Kenya and expanded in Africa and beyond, announced a $2.5M round of funding. The Series A round is led by Silicon Valley-based industry investor Draper VC, with existing U.S. investors. Series A investors are willing to take on the risk when a new venture is generating revenue but not yet making a profit. BitPesa will use some of the funds to move to Luxembourg. The firm’s goal is to be the largest payment company in the U.K., Europe and Africa.

  • Investing In African Agriculture: Finding The Best Opportunities In 2017

    investing in African agriculture By Kurt Davis Jr., 10:23 am AFKI Original

    French cosmetics company L’Oreal has invested in organic beeswax in Mali, the surprise country for 2017. Economic growth should hover around 5-to-6 percent this year as agricultural production strengthens. Lack of investment or interest in the country in recent years means there are unexploited opportunities with many investors still sitting on the sidelines. Opportunities exist in cashews, biofuels, shea butter and cotton. This year should see some investors put cash into the country, especially in agriculture.

  • Africans Don’t Trust Elections. Here’s How Tech Could Help

    Africans don’t trust elections By Tom Jackson, 7:55 am AFKI Original

    As tech becomes more widespread in Africa, democratic processes will become more accessible. Internet and mobile technologies can reach remote areas and give voice to many. Rashaad Alli is a manager at South African nonprofit People’s Assembly, which supports websites that make parliamentary information more accessible to ordinary people. “Access to information is a great enabler to effect social change and deepen democracy,” Alli said. “Tech tools help increase transparency, expose corruption, strengthen democracy and hold governments to account.”

  • She’s There When African Governments Turn Off The Internet: Meet The Lawyer Advancing Facebook In Africa

    lawyer advancing Facebook in Africa By Staff, 1:01 am

    Some describe Ebele Okobi, 42, as Facebook’s secretary of state for Africa. Last year, at least 11 African governments shut down the internet for various temporary reasons. Where there are shutdowns, there is Okobi. Perhaps the most controversial aspect of her work is Free Basics, the Facebook-driven platform that provides a free version of the internet. Telecos in 22 African countries provide it. Facebook can control what is accessible, and many have criticized it for creating different classes of internet access. For its part, Facebook says half of all Free Basics users convert into paying internet customers within a month.

  • How Rwandan Aviation Is Moving The Country Closer To Conference Hub Status

    Rwandan aviation By Dana Sanchez, 1:01 am

    Rwanda has scheduled a string of aviation events this year that it hopes will help bolster its growing tourism sector. The country has a new convention center to host such events. In July it celebrated the opening of Kigali’s new $300-million five-star Radisson Blu Hotel & Convention Centre. More than 2,700 aviation experts are expected to attend five major international aviation events that include Aviation Africa 2017 and Africa Airport Summit. Kigali International Airport was ranked third-fastest growing in Africa in 2016.

  • Which Pension Funds Are Investing In African Infrastructure?

    pension funds are investing in African infrastructure By Dana Sanchez, 2:50 pm

    About 90% of managed assets are concentrated in four countries including South Africa and Nigeria. SA leads, thanks to rules that allow them to invest 10% of assets through private equity. Nigeria is held back by trust issues. “The thought of using our pension fund for investment in public-sector infrastructure development is highly frightening given the well-known penchant for mismanagement inherent in public-sector institutions in Nigeria,” the Nigerian Labour Congress says. Pension funds are ideal for driving inclusive growth and social stability through long-term projects such as infrastructure, says consultancy firm RisCura.

  • ‘This Is Huge’: Nigeria Seizes Africa’s Richest Oilfield From Shell, Eni In Corruption Investigation

    Shell, Eni in corruption investigation By Dana Sanchez, 12:54 pm

    A Nigerian court has ordered petroleum giants Shell and Eni to temporarily forfeit assets and control of a massive, long-disputed oilfield to the government. The OPL 245 bloc is considered the richest in Africa — big enough to provide all Nigeria’s oil production needs for 11 years. Shell and Eni bought the bloc in 2011 for $1.2 billion knowing it was a fraudulent transaction, the petition said. The government is investigating conspiracy, bribery, official corruption and money laundering. “Generations of Nigerians have been robbed of life-saving services while oil men have grown rich at their expense,” an anti-corruption NGO said.

  • ‘Most Luxurious Ship Ever’ To Cruise Rarely Traveled Africa Route

    cruise rarely traveled Africa route By Staff, 9:33 am

    What’s been billed as the world’s most luxurious cruise ship, the 750-passenger Seven Seas Explorer, in 2018 will operate a voyage down the west coast of Africa — rare in the cruise world. The voyage will bring one of the priciest cruise ships in the world to one of the globe’s poorest regions. The per capita income of many of the countries on the itinerary is less than $2,000 per year. The most expensive luxury ship ever built, it features some of the largest, most elaborate accommodations at sea, including a 4,443-square-foot suite — nearly 50% larger than the average home in the U.S. The ship spa is operated by Canyon Ranch.

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