Tag Archives: Africa

Africa: Latest News

  • AFKI Commodities Report: Oil Prices Hit New Lows After OPEC cuts 2015 Forecast

    By Lynda Davies, 5:01 am AFKI Original

    Crude oil prices fall to fresh five-year lows after OPEC cuts its 2015 demand forecast. Gold finds support amid safe-haven buying. Among soft commodities, cocoa gains while cotton falls from 3⅟2-week high and arabica coffee dips to new 4⅟2-month low.

  • 12 Consequences Of Climate Change In The Sahara Desert

    By Keren Mikva, 11:23 am AFKI Original

    The Great Green Wall initiative aims to plant a wall of trees and vegetation from coast to coast across Africa to keep the Sahara from continuing to spread. Should the wall be completed as planned, it will be 4,300 miles long and nine miles wide, cutting through 11 countries. The A.U. approved the Green Wall in 2007, and planting began in 2008. It may be a desert but it’s one of the most problematic areas when it comes to climate change. These are 12 consequences of climate change in the Sahara Desert.

  • AFKI Commodities Report: Mixed Outlook For Agri-Commodities

    By Lynda Davies, 7:06 am AFKI Original

    Uncertainties over Brazil’s arabica coffee production is expected to keep prices firm next year. But after a stellar performance for much of 2014, cocoa futures prices are retreating as the market is seen by some analysts and market watchers to be shifting into surplus. It was another week of decline on oil markets, with Brent and WTI now trading at their weakest in more than five years

  • AFKI Commodities Report: OPEC Helps Push Oil Prices Down

    By Lynda Davies, 9:56 am AFKI Original

    At a time when global demand for oil shows signs of slowing, crude prices have fallen more than a third since June. Prices were already trading at their lowest in four years as U.S. crude production soared to its highest level in 30 years on the back of the country’s oil shale-drilling boom. The upward spike in gold prices followed an unexpected cut in Chinese interest rates — Beijing’s first in two years — aimed at stimulating growth. Some market participants and analysts predict smaller cocoa crops will drive a deficit. Others predict a surplus.

  • 10 Of The Toughest, Craziest, Most Rewarding Marathons In Africa

    By Keren Mikva, 9:35 am AFKI Original

    Unofficial running through the Fish River Canyon in Southern Namibia gave rise to the official Fish River Canyon Ultra Marathon, which held its inaugural event in 2011. With intense elevation gains, runners are allowed to direct their own routes so long as they reach predefined checkpoints. There are shortcuts that reduce distance, but increase difficulty. Check out 10 of the toughest, craziest, and most rewarding marathons and ultra-marathons in Africa that test athletes’ fitness, resolve, and will.

  • AFKI Commodities Report: Uncertain Supply Outlook Boosts Arabica Coffee

    By 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.

  • Africa-Turkey Summit Renews Agribusiness, Development Pact

    By 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

  • MTN, Woolworths Top Africa’s Most Valuable Brands

    By 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.

  • Chinese Airlines Gain Footing In African Industry Via Seychelles

    By 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.

  • How Rogue Microfinance Lenders Overburden Poor South Africans

    By 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?

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