Tag Archives: East Africa
East Africa: Latest News
Peter Pedroncelli, 4:39 am
Dalkom, a privately owned operator based in Somalia, has signed an agreement with Intelsat SA for satellite services that will lead to expanded broadband access and capacity in East and Central Africa. Intelsat SA, integrated satellite communications specialist and operator of the world’s first globalized network, will assist Dalkom Somalia in increasing its broadband enterprise and direct-to-home (DTH) services in East and Central Africa and the Middle East. The multi-year agreement will allow Dalkom to incorporate Ku-band satellite services provided by Intelsat 17 to extend their current services
Peter Pedroncelli, 4:39 am
South African telecommunications giant Vodacom is in the process of acquiring a majority stake in Kenya’s largest company and major East African telecoms firm, Safaricom. The announcement was made on Monday, with a proposed 34.94 percent indirect stake set to be bought from the Kenyan government. The stake is worth 284 billion Kenyan shillings or around $2.76 billion, based on Safaricom’s current share price on the Nairobi Securities Exchange.
Kurt Davis Jr., 9:54 am AFKI Original
As commodity prices have fallen, African manufacturing has increased leverage — and the attention of investors — to garner more foreign investment. Tanzania is probably one of the easier bets if you are following the crowd. Success stories include Kenya-based Catalyst Principal Partners, an East Africa-focused private equity firm which invested in Zenufa Laboratories, a leading Tanzanian pharmaceuticals manufacturer. Catalyst also invested in Chemi Cotex, which makes toothpaste, skin and hair products. Both involve non-food and beverage consumer goods that are manufactured locally. Both have taken market share due to quality products and competitive pricing.
Dana Sanchez, 5:17 pm
Each security is equivalent to 100th of an ounce of gold and is backed by physical gold. The Nairobi all-share index hit a 47-month low March 8, driven down by bank stocks and a Safaricom selloff. Having local currency exposure to the spot price of gold is attractive to local pension funds and others restricted in overseas investment. “It makes sense to be adding complexity to the stock exchange… Barclays is ‘pushing at an open door by launching a gold-based ETF,” an investment advisor said. “There’s clearly demand for gold here because people see it as a store of value.”
Dana Sanchez, 11:16 am
It wasn’t easy getting ECOWAS members to hold a conference in Israel. The 15-member Economic Community of West African States held their first-ever seminar outside West Africa. They learned hands-on about Israeli irrigation technology and how a tiny Middle Eastern country under attack from all sides has managed to thrive in adversity. “In Israel we make the impossible possible,” a conference organizer said. “This conference is an example.” Netanyahu plans to visit West Africa in a few months.
Dana Sanchez, 1:57 pm
Africa is short 90,000 doctors, 500,000 nurses, 300,000 community health workers and 500,000 hospital beds — and that was in 2007. With populations among the fastest-growing in the world, the ratios are getting worse. For someone interested in investing in the continent, these numbers could spell opportunity. Here are some market opportunities and investment ideas that could help fill the gap where other medical services are lacking.
Dana Sanchez, 6:05 pm
In a closed-door meeting at this week’s U.N. General Assembly, Netanyahu said he plans to visit West Africa later this year, “but I don’t intent to limit myself to East Africa or West Africa. Israel is looking at all of Africa,” he said. “And I hope that all of Africa looks at Israel.” Energyia Global Capital, a Jerusalem-based solar enterprise, launched East Africa’s first solar field in 2015 in Rwanda. The company is prepared to invest $2 billion in Africa over the next four years through Obama’s Power Africa program. The goal is clean electricity for 50 million people by 2020.
Dana Sanchez, 11:35 am
Ethiopia moved closer to its goal of being an auto industry hub when South Korea’s Kia Motors signed a deal to start assembling cars there. Tax breaks and cheap labor are some of the attractions. For now, Ethiopia must compete with South Africa and Morocco. Egypt, Kenya and Sudan also assemble vehicles. Kia has faced stiff competition in recent years from U.S. and Japanese rivals while demand in emerging markets has cooled. “It is important to penetrate the African market,” a Kia boss said.
Dana Sanchez, 5:52 pm
Today, 80 percent of all West African airline traffic is carried by non-African carriers and about 15 percent by non- West African carriers. East African airline Kenya Airways recorded a 28 percent increase in passengers in West Africa for the year ending June 2016. Yet West Africa, with 40 airports and 300 million population in 15 countries, has no strong airline and no airport hub. Several airports are vying to be hubs.
Seeking New Markets: Venture Capital Fund Leaving London, Moving To East Africa. Here’s Who’s Already ThereBy Dana Sanchez, 11:35 am
London’s startup ecosystem is flooded with early stage funding for tech startups, so one of the city’s best-known venture capital funds is planning to move to a much less crowded neighborhood — East Africa. East Africa’s angel investment scene is rising, but slowly. Angel investing in Africa can make a big difference to economies there, said the founder of London VC fund Playfair Capital.
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