Zambia: Latest News
Dana Sanchez, 5:28 pm
Bids from other consortiums including one led by South Africa’s Public Investment Corporation and Dubai-based Abraaj Group haven’t materialized. The Barclays Africa stake that is for sale is valued at about $4.3 billion. South Africa’s PIC manages pensions for government employees and is Africa’s largest money manager with about $13.5 billion in assets. In May it said it’s forming a group of black investors to ensure Barclays Africa remains in local hands.
Dana Sanchez, 11:12 am
In Africa, proposed consolidations of seed and agrochemicals industries will result in a bigger push for genetically modified technology. For sub-Sahara’s predominantly small-scale farmers already operating at a low profit margin, greater consolidation means less choice for them and consumers. These proposed mergers are not just about seeds and pesticides. They’re about controlling big data, DNA and intellectual property, stakeholders say.
Dana Sanchez, 3:21 pm AFKI Original
Online retail is still small by global standards in much of Africa, but it’s growing fast thanks to increased penetration of smartphones. E-commerce in Africa is expected to be worth $50 billion in 2018, up from US$8 billion in 2013. There’s rising demand for warehouse space by manufacturers seeking to expand in Africa. Knight Frank singled out landlocked Zambia as one of the most promising logistics locations in sub-Sahara, thanks to its geographical position at the intersection of Southern, Eastern and Central Africa.
Peter Pedroncelli, 6:07 am
Former Zambia under-17 tactician Wedson Nyirenda has been appointed as the caretaker coach of the Zambia national team, following the sacking of previous caretaker manager, George Lwandamina. The development was officially communicated to the media and public via the Football Association of Zambia (FAZ), following a disappointing spell in charge of the Chipolopolo for Lwandamina, who took charge on a temporary basis in July 2015.
Keren Mikva, 8:47 pm AFKI Original
Mc Bright Kavari created a niche for his firm, Classic Fashion, as an elegant and dramatic fashion brand in Namibia. Kavari uses modern African styles combined with European-style twists, and loves to bend the norm and explore unique and untried ideas. An African fashion reception is underway through Sept. 15 at African Union headquarters in Addis Ababa showcasing designers from across the continent. Top designers — one each from 30 African countries — will be represented.
Joe Kennedy, 7:19 am
Most people who have traveled to Tanzania know that flights into and out of the country can be rather expensive. Instead of booking a plane ticket, a cheaper (and more scenic option) to travel with is the TAZARA train if you’re going to or from Zambia to Tanzania. Fortunately, many travelers going to East Africa are trying to explore several countries at a time, so the connection makes sense.
Dana Sanchez, 2:49 pm
The world’s seventh wealthiest man is in Nigeria and plans to attend the Facebook for Developers Workshop Wednesday in Lagos. Zuckerberg posted about his Africa visit on his own Facebook page. “Next stop: Lagos!” he said after he and wife Chan visited Pope Francis Monday at the Vatican. “There’s so much energy and so much potential here (in Nigeria). I just want to walk around and meet folks,” he said. More people use Facebook in Nigeria than anywhere else in Africa.
Kurt Davis Jr., 1:07 pm AFKI Original
After-work teas are becoming after-work beers and glasses of wine in Africa. As incomes grow in sub-Saharan Africa, consumers are demanding better quality wine and spirits – both imported and locally made. “Drink more please” — it’s not the best parenting line but it is the thinking of many top executives at wine and spirit companies. Sub-Saharan Africans drink 10-to-11 liters of beer per person per year. Comparatively, Asians drink about 19-to-20 liters and Americans drink about 73-to-74. Only South Africans drink more than the global average — around 46 liters.
Dana Sanchez, 11:38 am
Occupancy at the Victoria Island hotel and casino fell to 42 percent. Sun International isn’t the first South African company to clash with Nigerian authorities. Telecoms group MTN got a record-breaking multi-billion dollar fine. Nigeria is already in recession and it’s going to last a long time, an economist predicts. This month, South Africa reclaimed from Nigeria the title of Africa’s biggest economy due to appreciation of the rand and devaluation of the naira.
Kevin Mwanza, 9:20 am
Zoona, one of the leading money transfer service providers in Zambia and Malawi, raised $15 million in its second round of capital raising as it seeks to spread its operations to ten countries across Africa by 2020. International Finance Corporation (IFC), a member of the World Bank Group, led the investment with $7.5 million while Omidyar Network doubled its investment in the second phase.
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