Tuesday 20 February 2018
(AFP (eng) 02/19/18)
About 224 million people are suffering from malnutrition across Africa as climate change and conflicts heighten food insecurity across the continent, a top UN food agency official said Monday. The official, speaking at a conference on Africa organised by the UN's Food and Agriculture Organization (FAO), said the situation was a "cause of concern" as the continent's population was expected to reach 1.7 billion by 2030. "Under-nourishment appears to have increased from about 21 percent to nearly 23 percent between 2015 and 2016," Bukar Tijani, FAO's assistant director general for Africa, said at the regional conference that opened on Monday in Khartoum. "Over the same period, the number of under-nourished rose from 200 million to...
(AFP (eng) 01/29/18)
Angolan President Joao Lourenco was elected five months ago promising an "economic miracle". But the path to transforming the oil-dependent country's economy will be long and difficult -- as was highlighted by anger over the de facto de-valuation of the local currency. Since January, new central bank governor Jose de Lima Massano has been presiding over something of a fiscal revolution, weaning the local kwanza currency off its artificial peg to the dollar, and phasing in a floating exchange rate. The local unit has been fixed at a rate of 166 to the dollar since 2016, even if the kwanza has changed hands at a rate of more than 400 for a dollar on the black market. "We have an...
(Reuters (Eng) 01/22/18)
MOSCOW (Reuters) - Russia’s VTB (VTBR.MM) is in talks with Angola on changing the terms of a $1.5 billion loan and extending it, the bank’s Chief Executive Andrey Kostin told Reuters in an interview authorized for publication on Monday. An oil boom made Angola one of Africa’s richest countries per capita but it is also one of the world’s most unequal. The economy fell into recession in 2016 due to a fall in the oil price and unemployment is at...
(AFP (eng) 01/11/18)
Angolan President Joao Lourenco removed the son of his predecessor Jose Eduardo dos Santos from the top job at the oil-rich country's sovereign wealth fund, the presidency said on Wednesday. Jose Filomeno dos Santos, who was implicated in the "Panama Papers" offshore scandal, will be replaced by former finance minister Carlos Alberto Lopes. Last year's "Panama Papers" revelations showed how the world's wealthy used a discreet Panamanian legal firm to stash assets offshore. The investment fund under Dos Santos Jr's control has been shown to have transferred tens of millions of dollars to businessman Jean-Claude "Zenu" Bastos de Morais to run the organisation.
(AFP (eng) 12/23/17)
Angola has suffered a week of fuel shortages, a bitter irony for one of Africa's leading oil producers, and a hardship that some people blame on opponents of President Joao Lourenco. The majority of petrol stations in the capital Luanda have had long lines of motorists for seven days now, all waiting for the chance to fill up their tanks. "We don't have any more," said Henriques Carvalho, a pump attendant in the Bairro Popular district. "They came here to...
(AFP (eng) 12/20/17)
Angola's state oil company has announced an investigation into "possible misappropriation" of funds by Isabel dos Santos, the daughter of the former president, during her time as the company's chief executive. In recent weeks, several Angolan media outfits have accused dos Santos of ordering suspect transfers and payments worth tens of millions of dollars. Appointed head of Sonangol by her father Jose Eduardo dos Santos in 2016, dos Santos was replaced last month by Angola's new president Joao Lourenco. Isabel...
(Xinhuanet 12/14/17)
Angolan President Joao Lourenco has urged government officials to repatriate their money in overseas accounts back to the homeland by the beginning of next year, local media reported Thursday. He made the remarks Wednesday as vice president of the ruling MPLA party at a seminar on fighting corruption crimes. Lourenco said that those who act on his advice will not be questioned about the reasons for having the money outside the country, nor prosecuted. The president warned that at the...
(AFP (eng) 11/28/17)
Angola is to allow a fourth mobile operator to enter its profitable telecommunications sector in a move which could impact business interests linked to former president Jose Eduardo dos Santos. "The government is to issue a tender for a fourth telecoms operator which will include land line, mobile and television subscriptions," said Telecoms Minister Jose Carvalho da Rocha. "We are increasing competition to improve the service, and will work on pricing and quality of service," he told reporters. The mobile phone sector is currently shared between two...
(Xinhuanet 11/17/17)
Sino-African relations have entered a new development stage of win-win cooperation, according to the fifth Biennial Conference of China-Africa Industrial Forum (CAIF) that opened here Thursday. Supporting Africa's industrialization and capacity cooperation are of vital importance in the next five years and Sino-African trade is likely to total 180 billion U.S. dollars in 2017, said CAIF secretary general Cheng Zhigang in the opening speech. Sino-African economic and trade cooperation has great potential, said Cheng. China has been Africa's largest trading...
(AFP (eng) 11/16/17)
Isabel dos Santos, who was sacked Wednesday as Angola's state oil chief, is the eldest daughter of Angola's former president and a British-educated billionaire businesswoman dubbed the richest woman in Africa. Once viewed as a possible successor to her father Jose Eduardo dos Santos, her investments in Angola and former colonial ruler Portugal are worth about $3 billion (2.5 billion euros), according to Forbes magazine. But the decision of her father's successor President Joao Lourenco to remove her as chief...
(Le Point 11/16/17)
La fille de l'ex-président Eduardo dos Santos ne dirige plus la compagnie nationale pétrolière. Une décision qui intervient dans un contexte de rupture avec les anciennes pratiques du clan présidentiel. « Le mandat de PDG de Sonangol n'est pas dépendant du processus électoral […], je veux continuer. » Lorsqu'elle a prononcé ces mots il y a quelques mois, Isabel dos Santos semblait certaine de son avenir à la tête de la compagnie nationale pétrolière. C'était compter sans la volonté de...
(AFP (eng) 11/15/17)
Angolan President Joao Lourenco on Wednesday fired his predecessor's daughter from her influential post as head of the Sonangol state oil company, the presidency said in a statement. Her appointment to the oil giant last year was widely criticised as a symbol of the nepotism and corruption that flourished under Dos Santos. Lourenco swept to power as the ruling party's candidate in August elections after pledging to clean up Angola's endemic graft and revive its listless economy.
(Reuters (Eng) 11/14/17)
KIGALI (Reuters) - The global airline industry has $1.2 billion blocked in nine dollar-strapped African countries, the International Air Transport Association (IATA) said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. Low oil and mineral prices have reduced government revenue and caused chronic dollar shortages and immense pressure on local currencies. The fiscal slump has meant governments have not allowed foreign airlines to...
(Reuters (Eng) 10/31/17)
HARARE (Reuters) - Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South African are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the tenure of their leaders. The IMF said a...
(AFP (eng) 10/18/17)
Rent-a-room giant Airbnb said Tuesday that it had provided accommodation for 1.2 million visitors to Africa over the last year -- double the previous year as tourism expands across the continent. The website now offers more than 100,000 accommodation options in Africa, global public affairs director Chris Lehane said on a visit to Johannesburg. "It's an incredibly rich and diverse continent, an incredibly dynamic place, certainly a big part of our future," Lehane told AFP. Airbnb was founded in 2008...
(AFP (eng) 10/16/17)
Angola's new president unveiled a programme of corporate tax sweeteners on Monday intended to boost foreign investment and ease the oil-rich country's dependence on the lacklustre price of crude. "We expect to adopt tax incentives for businesses that invest in the country," President Joao Lourenco said in his first address to parliament since taking office following the August 23 vote. "Our country is in a difficult economic and financial situation due to the drop in oil prices on the international...
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...

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