South Sudan: Latest News
Kevin Mwanza, 4:58 am
Sudan President Omar al-Bashir agreed to cut the transit fee for South Sudan’s oil crossing its territory after the two countries opened their borders to each other for the first time on Tuesday. South Sudan took with it almost three quarters of the former Sudan’s oil fields with an estimated five billion barrels of proven reserves, but Sudan hiked transit fee of transporting the oil through it territory to the Red Sea port.
Dana Sanchez, 12:26 pm
The $12.2 billion sale is expected to be complete by mid-2016. It’s part of a trend for consolidation across the global hotel industry, and these global mergers are likely to impact African hospitality significantly. “This domination by the new merger company will lessen over time as other companies start to understand the appeal of the African market,” a stakeholder said. The combined company will have 10% of the total hotel supply in the world — not a monopoly.
Staff, 1:34 am
Half of the 82-game 2015-16 NBA season has gone, and most of the nine Africa-born players look better than ever. And, as the race for the playoffs intensifies Festus Ezeli (Golden State), Gorgui Dieng (Minnesota), Bismack Biyombo (Toronto), Salah Mejri (Dallas), Luc Mbah a Moute (LA Clippers), Serge Ibaka (Oklahoma City Thunder), Emmanuel Mudiay (Denver), Walter Tavares (Atlanta) and Luol Dieng (Miami) continue to thrive one way or the other.
Keren Mikva, 8:23 am AFKI Original
Luol Deng is known for his incredible abilities on the court in the National Basketball Association (NBA), and the player from South Sudan makes Africans proud by representing the continent in the world’s top basketball platform as a Miami Heat player. In an effort to learn more about the basketball star, here are 8 things you didn’t know about Luol Deng.
Dana Sanchez, 9:28 pm
China became one of Nigeria’s top oil buyers, then cut oil imports by more than 50% in 2015. Oil contributes up to 90% of Nigeria’s export revenue. It could get very uncomfortable for Africa’s largest economy in 2016. To withstand global volatility, Africa must develop domestic capacity by increasing manufacturing and growing intra-African trade, World Bank said. These are 10 African countries that could be hit hardest by falling Chinese imports6.
Dana Sanchez, 6:40 pm
While its expansion to Africa is a welcome development, the U.S. company could face challenges due to the high cost of Internet mobile data and lack of quality broadband. Africans are already fans of most Netflix content. Netflix could oust Naspers-owned digital satellite TV service, whose users complain about its fees. However, Netflix isn’t cheap either. Still, the U.S.-based company has 65 million streaming customers worldwide.
Staff, 12:01 am
Ethiopia may emerge as an African powerhouse like South Africa and Nigeria and ahead of Kenya, its regional rival. But the Ethiopian government doesn’t let in retailers such as Shoprite or Nakumatt. “The service sector here is one of the most restrictive in the world,” says a frustrated foreign banker. The official reason for keeping Ethio Telecom a monopoly is that the government can pour its annual $820m profit into roads. If the government opened the airwaves to competition as Kenya has, it could probably sell franchises for $10 billion. Safaricom is Kenya’s biggest taxpayer.
Dana Sanchez, 6:08 pm AFKI Original
There are words, and then there is action. Several African business leaders said things in 2015 that were inspiring, or true, or moving. Fewer were able to put those words into action. Below are some African businesswomen who walked the walk and talked the talk. That makes them AFKInsider’s candidates for the most memorable quotes by African businesswomen in 2015.
Ann Brown, 11:26 am AFKI Original
Cell phone use is growing exponentially in Africa, but with electricity scarce, charging those phones is a challenge. Africa-born, U.S.-educated entrepreneur Henri Nyakarundi saw a business opportunity. He developed a franchise system that lets other entrepreneurs run his solar-powered mobile kiosks as their own businesses in Rwanda. Now he’s developing software for content providers.
Julia Austin, 7:00 am AFKI Original
Facebook has gone the distance to promote itself in Africa. How far? To infinity and beyond. Well, maybe that’s overstating it, but it works through satellites in space beaming the Internet down on sub-Sahara. To combat the issue of expensive data on mobile phones in Africa, Facebook is offering Internet.org, a system that gives mobile Facebook users free airtime, specifically while on the social media site. Here’s how badly Facebook wants to be in Africa.
- Real Estate