Tag Archives: Africa
Africa: Latest News
Lynda Davies, 1:37 am AFKI Original
Brent crude languished around nine-month lows while U.S. oil prices dipped to a six-month low. Gold moved back above $1,300 on Russian-Ukraine tensions. Among softs, Brazilian crop concerns fuelled choppy trading in arabica coffee futures, while raw sugar prices slipped to 5½-month lows
Anna B. Wroblewska, 4:53 am AFKI Original
Forty percent of children under age 5 are stunted due to poor nutrition, and Africa’s share of global child mortality has increased from 30 to 50 percent since 1990. On a continent where most people are farmers, how is this possible? In its 2014 progress report, the Africa Progress Panel said Africa is dangerously dependent on imports. Part of the problem is low productivity, terrible advice, and a lack of investment. Smallholder farmers are a rather long-suffering and heroic group.
Lynda Davies, 1:16 am AFKI Original
Oil prices weakened this week on higher output from the Organization of the Petroleum Exporting Countries (OPEC) and slowing U.S. demand which more than offset worries about the potential impact of new sanctions against Russia and ongoing violence and unrest in the Middle East, Ukraine and Libya. The oil market also appeared to ignore positive economic data from the U.S. and China, the world’s biggest oil consumers.
Keren Mikva, 11:18 am AFKI Original
Tanzania is No. 3 on this list, receiving $2.831 billion in foreign. The country had a gross domestic product of $33.23 billion in 2013, but 28.2 percent of its population of 49.25 million lives below the poverty line. The average gross national income per capita is $630. About 33 percent of government spending is financed by foreign aid, but the country is plagued by aid ineffectiveness. Projects have been launched to increase effectiveness and transparency of aid. The following African countries received the most official development assistance and foreign aid in 2012, according to the World Bank.
Anna B. Wroblewska, 12:44 am AFKI Original
Financial services is indeed a hot investment area, and one that is particularly dear to private equity firms operating in Africa. An Ernst & Young study found that the sector accounted for by far the highest incoming investment values and the highest proportion of exits in the past five years. All in, financial services captured 13 percent of private equity investment capital in Africa in 2013.
Lynda Davies, 11:53 pm AFKI Original
Crude oil prices jumped the most in a month on initial reports of the Malaysian Airlines passenger plane crash in eastern Ukraine on July 17. But oil markets have since been relatively calm amid the political fall-out from the reported shooting down of the aircraft and a plethora of other geopolitical crises.
Keren Mikva, 1:33 pm AFKI Original
South Africa has gone to extremes to curb rhino poaching, including using spy planes and drones. In 2007, 13 rhinos were killed in South Africa. In 2012, the rhino death toll by poachers reached 630. Sophisticated rhino-poaching rings have begun using helicopters to spot rhinos and dart them with tranquilizers, forcing South African authorities to spend more to stop them. African countries face increasingly tech-savvy poaching operations and growing international demand for the illegal trade. Here are 10 things you didn’t know about the poaching business in Africa.
Frank Mutulu, 5:01 am AFKI Original
Kenyan artist JB Maina scored a $176,000 copyright infringement settlement from Safaricom. He argued that the telecom benefited by using his popular songs as callback tunes without his permission. The artist prevailed and showed other artists across the continent that knowing their intellectual property rights pays. Patent applications in Africa are few and far between. In 2012 South Africa had 608 patent applications. Kenya had 123. There were none in Uganda, Nigeria, Zambia or Mauritius. By comparison, the U.S. had 268,782 patent applications in 2012.
Anna B. Wroblewska, 4:45 am AFKI Original
“Taken as a group,” the Africa Progress Panel’s 2013 progress report states, “The resource-rich countries have some of the world’s highest child mortality rates: 12 have in excess of 100 child deaths for every 1,000 live births.” That’s a 10 percent mortality rate. The report goes on to list the woes that citizens of resource-wealthy nations endure, including above-average maternal mortality rates, high levels of child malnutrition, and of course the inevitable environmental (and thus societal) impact of mining and extraction, including the loss of other natural resources.
Ann Brown, 6:00 pm
From The Huffington Post Widely considered one of Africa’s greatest art collectors, Joseph Murumbi spent his life collecting a vast collection of art and books. Born the son of a Goan father and Maasai mother, Murumbi rose to become one of the leaders in the Kenya African Union. When he died he left behind more […]
- Real Estate