Business: Latest News
Staff, 10:00 am
How do New York Times journalists use technology in their jobs and in their personal lives? Declan Walsh, The Times’s Cairo bureau chief, discussed the tech he’s using. What tech is most important for you to do your job as our correspondent in Egypt? A dented, screen-cracked iPhone is the center of my work. When I started out as a foreign correspondent 18 years ago, in Kenya, I carried a small satchel that held a tape recorder, a camera, an address book, a map and perhaps a shortwave radio.
Staff, 7:10 am
Along a winding road down the edge of an airport near Pretoria, South Africa’s capital, is an aeronautical version of a Mad Max world. “Airheads” scrounge for parts to get their machines aloft again. Just around the corner is one of the most modern aircraft assembly plants anywhere in the world. In it stand two brand new prototypes of the AHRLAC, designed to fill a gap in the market for an aeroplane jam-packed with sensors that can patrol borders, look for poachers and drop guided weapons.
Tom Jackson, 12:16 pm AFKI Original
Every year, the great and the good of African tech converge on Cape Town to network and discuss the key trends within the sector. Until 2014, startups were barely featured at AfricaCom, but that all changed with the launch of the AHUB that year. This year’s event saw pitches from the 20 startups taking part in the World Bank’s XL Africa accelerator programme, and the chance to experience companies of such quality was refreshing.
Tom Jackson, 5:02 am AFKI Original
A number of African pay-as-you-go solar companies have attracted investment in recent times, and continue to grow at a fast pace. East African company M-KOPA Solar is amongst the best funded, and recently raised another $80 million to be used over the next three years to finance installations in one million homes, on top of the 500,000 already connected. But what makes solar companies in Africa so attractive to large-scale investors.
Peter Pedroncelli, 3:06 am
A continental roadshow has been planned in order to create awareness of the new DotAfrica top-level internet domain, which was officially launched in July this year with the backing of the African Union and member states. The roadshow, which will begin early in the new year, will start off in Botwana and pass through numerous African countries in order to spread the word about DotAfrica, ending at the top of Mount Kilimanjaro.
Peter Pedroncelli, 5:43 am
South African fintech company JUMO has secured a $24 million loan facility which will be dedicated to the firm’s expansion into Africa and Asia. The substantial investment was provided by London-based Gemcorp Capital along with Finnish development finance company Finnfund, which contributed $6 million of the $24 million. The financial services platform for emerging markets, analyzes user data collected from mobile phones and offers tailored financial products based on that analysis.
Kurt Davis Jr., 4:55 am AFKI Original
The healthcare investment space is starting to hit its stride in Africa, with the sector finding significant partnership in private investors. The opportunity is vast, with many estimates placing the capital need for the sector beyond $25 billion. The healthcare space requires holistic approaches across multiple verticals, including insurance, primary care, and medicine/foods. with those able to bring quality products and services to those verticals able to benefit in terms of investment.
Peter Pedroncelli, 4:58 am
A new high speed submarine cable will reach South African shores in 2019, with the country at the southern tip of Africa set to be connected to India via islands in the Indian Ocean. The telecommunications system will be built by Alcatel Submarine Networks and Indian Ocean Exchange Cable, with a contract signed and work beginning immediately to connect Mauritius, Rodrigues, Reunion, India and South Africa via high speed cable.
Peter Pedroncelli, 5:37 am
Truecaller, a Swedish mobile app that provides the identity of unknown callers, has launched its developer program at an event in Nigeria. Having recently signalled its intention to expand across Africa, Truecaller launched a developer program for African coders at the CcHUB, Africa’s leading social innovation centre. The event was held by the company in order to launch the program and explain their expansion plans throughout the country and the region.
Staff, 8:32 am
Cape Verde, the small island archipelago nation off Africa’s northwest coast, has set itself a very renewable energy target. As part of ‘sustainable energy for all’ agenda, it has pledged to obtain 100 percent of its electricity from renewable resources by 2025. Cape Verde is made up of 10 islands, nine of which are inhabited, that lie about 600km west of Senegal. Of the islands’ 550,000 residents have access to electricity, but about one-third still rely on firewood and charcoal for cooking.
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