Features: Latest News
Kurt Davis Jr., 8:02 am AFKI Original
The economies of sub-Saharan Africa have felt the pain of 2015 and 2016, and African currencies have experienced volatility as a result. The year 2017 has been a partial year of recovery or adjustment, but there remain a selection of African economies that continue to experience issues with their currencies as a reflection of the problems that are affecting them at home. Here we take a look at four prime examples.
Peter Pedroncelli, 6:14 am AFKI Original
The bigger they are, the harder they fall. Ten tech stocks did poorly on the Johannesburg Stock Exchange over the course of the year which ended on June 30, and investors linked to those particular companies will be disappointed with the performances of their stocks during that period. While big names such as Vodacom and Naspers grew their valuations on the JSE, the likes of Telkom and Blue Label Telecoms lost value over the period.
Tom Jackson, 1:52 am AFKI Original
Finding skilled workers is a major barrier to the development of Africa’s fintech space, which is catering to a large unbanked African population through mobile and other avenues, but the market is slowly responding. The University of Cape Town recently became the first university in Africa to offer a specialized fintech degree, and other ed-tech and related startups have come to the party in an effort to fill the fintech skills gap.
Kurt Davis Jr., 1:20 am AFKI Original
The Starbucks model is interesting for investors and customers within the East African context. There are other local examples of similar concepts working, such as Sugerpie Cupcakes in Kenya. Premium product for premium price at low cost is a winner in the region, but making it work is not as simple as observers may imagine, and there are numerous reasons why a premium franchise such as Starbucks may struggle to work in East Africa.
Peter Pedroncelli, 3:47 am AFKI Original
The Johannesburg Stock Exchange has seen a mixed bag of success and failure for tech stocks over the last year, with some companies managing to provide positive returns for investors while others fell out of favor and lost value. Nine tech stocks in particular did well over the course of the year. While big names such as MTN, Telkom and Blue Label Telecoms lost value over the period, tech stocks such as Vodacom and Naspers grew their valuations on the JSE.
Peter Pedroncelli, 7:59 am AFKI Original
In business terms, countries with the fastest broadband speeds have a distinct advantage over others, and this is especially true for Africa. The research took into account 189 countries, including most African nations ranking them from first to last with regards to average speeds that users experience in those countries. Singapore ranks as the world’s fastest country with speeds of 55.13Mbps, while Yemen is in last place in the ranking at an average speed of only 0.34Mbps.
Kurt Davis Jr., 5:02 am AFKI Original
Political angst and turmoil combined with terrorism has slashed tourism in numerous countries across the world, including on the African continent, and countries are desperate to reignite tourism after the damage dwindling numbers have caused. But Tunisia, Kenya, and Egypt are now overcoming the issues that have plagued their countries in an effort to see tourism numbers return, and early signs are good. Much still needs to be done, but these three nations are on the right track.
Peter Pedroncelli, 10:43 am AFKI Original
Women have always been important role-players within tech in South Africa, and now more than ever, there are numerous women who are influencing tech in positive ways. While gender diversity in the tech sector remains challenging, some women stand out as excellent role models who are making their mark on a male-dominated industry. From startup executives to tech savvy philanthropists, these women show what a passion for tech and strong leadership qualities can produce in the South African context.
Ann Brown, 3:09 am AFKI Original
Sandra Mwiihangele has a great passion for cosmetics and entrepreneurship, leading her to create Kiyomisandz, a cosmetic manufacturing company in Namibia. The 29-year-old businesswoman has been successful, but she remains ambitious. Mwiihangele wants Kiyomisandz to grow into a respected African business and international brand that can compete with the likes of L’Oréal, Revlon, and The Body Shop.
Tom Jackson, 10:49 am AFKI Original
While both Kenya and Rwanda admit to the importance of tech development in spurring economic success, the countries have two different approaches. Kenya’s tech development has stalled, mostly on President Kenyatta’s watch, and the government needs to match its rhetoric with action if it is to get it going again. In contrast, Rwanda is earning a reputation as a test kitchen for startups, and a recent report placed the country first in government success in ICT promotion.
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