Tag Archives: Africa
Africa: Latest News
Lynda Davies, 3:05 am AFKI Original
Arabica coffee futures rose to a near one-month high at midweek, boosted by an uncertain global supply outlook, before falling sharply on Nov. 20 after a better-than-expected U.S. Department of Agriculture (USDA) forecast for the Brazilian crop surprised the market. March arabica coffee futures on New York’s ICE Futures U.S. exchange climbed as high as $2.0135 a pound on Nov. 19, the highest for a second-month contract since Oct. 22, before settling 6.20 cents up on the day at $1.9910 a pound.
Makula Dunbar, 12:30 pm
Leaders of African countries and Turkey met on Friday in the seaside city of Malabo, the capital of Equatorial Guinea, to review the performance of the 1st Africa-Turkey partnership and to endorse projects and implementation modalities on priority areas for the coming five years. African Union Commission Chairperson Nkosazana Dlamini Zuma, Turkish President Reccep Tayyip Erdogan, Mauritanian President Ould Abdel Aziz, who is the current chair of the African Union
Makula Dunbar, 12:08 pm
The annual ranking of the most admired and most valuable brands in sub-Sahara Africa, Brand Africa 100, was announced earlier today at the Nairobi Securities Exchange, in Nairobi, the capital of Kenya. Established in 2011, Brand Africa 100 measures and ranks brands that consumers admire and their corresponding values. “Prior to 2011, there was no independent measure of the value and the performance of any brand in Africa, whether local or foreign.
Makula Dunbar, 12:37 pm
The possibility for Seychelles to attract a commercial Chinese airline is today feasible because of the high inflow of travelers from China. The airline industry in China is more than ever conscious that the need for direct links to Seychelles is today on the cards of Chinese tourism operators.
Anna B. Wroblewska, 5:44 am AFKI Original
Microfinance, or lending small sums to low-income borrowers or entrepreneurs, was supposed to be a source of development and income growth for the poor in Africa. Has it worked? South African consumers, for example, tend to be highly indebted, and their debt levels are still rising. Fully 31 percent of the value of new credit lines in the country go to those with under $900 in income per month — and 60 percent of credit-active consumers are at least 1-2 months in arrears. In other words, it’s increasingly looking like those who can least afford it are the most overextended. How did this happen?
Lynda Davies, 1:38 am AFKI Original
Brent and WTI crude oil futures fell to four and three-year lows respectively as OPEC cut its forecast for the call on its crude next year; gold clawed back losses from the 4⅟2-year low recorded last week but remains in negative territory. Among soft commodities, ICE raw sugar made strong gains on short-covering while arabica coffee was also higher on a global deficit forecast from the International Coffee Organization
Lynda Davies, 10:31 am AFKI Original
Losses were the name of the game across many commodities this week. Crude oil prices plunged lower still with Brent hitting a four-year low. Gold has come under severe pressure, slumping to a 3.5-year low, while agricultural commodities such as cocoa, coffee and sugar as well as cotton sustained further losses this week. Platinum and palladium are also struggling. Putting pressure on platinum and palladium prices are gold’s downward spiral, the strong U.S. dollar — which makes dollar-priced commodities more expensive for holders of other currencies — and concerns that demand is slowing in China and Europe, particularly from the auto-sector.
Makula Dunbar, 4:50 pm
On the top two floors of a five-story building on Strathmore University’s campus in Nairobi, students with tablets and laptops are gradually changing the face of the East African economy. As part of the university’s master’s program in mobile telecommunications, they spend their days developing computer apps tailor-made for African markets.
Dana Sanchez, 12:27 pm
With 556,500 Twitter followers this week, Rwandan President Paul Kagame beat out the presidents of Tanzania, Tunisia, South Africa, Nigeria and Kenya on social media. Kagame was No. 1 among Africa’s most followed presidents on Twitter in the first week of November, according to CyberAfricaTV.
Dana Sanchez, 3:51 pm
Sub-Saharan African tourist arrivals grew by 3 percent from January to August 2014 with no significant cancellations in Africa, TravelBizMonitor reports. International tourism in countries where Ebola transmission is widespread (Liberia, Guinea and Sierra Leone) represents less than 1 percent of all international arrivals to African destinations, a U.N. travel official said. But misperception about the outbreak is affecting the whole of Africa, TravelBizMonitor reports.
- Real Estate