| Africatime
Sunday 23 April 2017
(Bloomberg 04/20/17)
WorldRemit Ltd., a British money-transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile-payment platforms and expatriates send cash home. The seven-year-old company, in which Facebook Inc.-backer Accel Partners LP invested $40 million in 2014, will this year open a regional office in South Africa, its largest market on the continent in terms of money-transfer value, founder and Chief Executive Officer Ismail Ahmed said in an interview. Another site will start operating in Kenya, where the London-based business sees Africa’s highest number of individual transactions. “In the next two years we should be doubling our volume every year,” Ahmed said in Kenya’s capital, Nairobi. The continent...
(AFP (eng) 04/18/17)
The International Monetary Fund on Tuesday forecast 2.6 percent growth in sub-Saharan Africa this year, aided by a modest recovery in large economies South Africa, Nigeria and Angola. "Growth is projected to rise to 2.6 percent in 2017 and 3.5 percent in 2018, largely driven by specific factors in the largest economies, which faced challenging macroeconomic conditions in 2016," the IMF said its latest World Economic Outlook report. A slump in commodity price in 2016 and devastating drought had affected growth in several countries in the region, resulting in 1.4 percent growth of gross domestic product (GDP). Nigeria, the continent's most populous nation and a leading oil producer, was expected to return to growth in 2017 after a challenging 2016...
(Xinhuanet 04/18/17)
Africa's diaspora is playing a big role in the economic transformation of the continent, the UN said on Tuesday. UN Population Fund (UNFPA) Regional Director Dr Julitta Onabanjo told Xinhua in Nairobi that remittances are important source of income for many African families. "The diaspora therefore complements government efforts to lift many families out of poverty," Onabanjo said on the sidelines of the First Africa-China Conference on Population and Development. Onabanjo said that Africans in the diaspora also bring back...
(Reuters (Eng) 04/07/17)
Access to off-grid solar energy in rural areas of Africa goes beyond lighting up homes - it also enables people to connect to the wider world and boosts their economic prospects, said the head of one of the continent's biggest solar companies. Azuri Technologies' entry level solar system - for which customers pay a one-off installation fee, then use scratch cards or mobile phone payments to top up on a weekly or monthly basis - provides eight hours of lighting...
(Independent Online 04/06/17)
Johannesburg - Eskom on Wednesday signed a three-year supply agreement with Botswana Power Corporation (BPC) as the power utility continues to bask in excess capacity of 4000 megawatts. Eskom said the agreement was in line with its plan to increase its electricity exports to South Africa’s neighbouring states. It said it was looking for new markets because of relatively flat electricity demand and additional capacity from its power projects. In the six months to end of September last year, Eskom’s international sales volumes increased 31.6 percent. Overall electricity sales volumes increased by 1.2 percent during the period. According to Statistics South Africa figures, electricity production grew by 0.9
(Financial Times 04/04/17)
Countries should develop policies to attract labour-intensive production leaving China. China’s initial wave of investments in Africa focused on natural resource extraction. Their demand for metals and energy was so large that it actually boosted global commodity prices overall, which in turn accelerated growth across the African continent. These times of China propping up global commodity prices are now over, as it has built up excess capacity in many sectors and now faces slow investment growth. This lower demand has...
(Botswana Daily News 04/03/17)
Foley — Member of Parliament for Tonota, Mr Thapelo Olopeng has urged farmers to take care of their ploughed fields so that they have good harvest. Speaking during a kgotla meeting , he said they should meet government half way as they were given seeds to plough and help them eradicate poverty. Mr Olopeng, who is also the Minister of Youth Empowerment, Sport and Culture Development encouraged them to help one another through the olden way of letsema so that...
(Botswana Daily News 04/03/17)
Maun — In an effort to control and regulate commercial fishing in the Okavango Delta, the Department of Wildlife and National Parks through the Fisheries Unit has introduced a new system where a raffle will be conducted and the winners issued with licences. An official from the Fisheries Unit, Mr Choto Choto revealed in a meeting that due to the high number of applications for commercial fishing, his department had to make an administrative decision to control the number of...
(Mining Weekly 03/29/17)
The Botswana government has awarded ASX-listed African Energy a mining licence for its Sese joint venture (JV). The mining licence covers 51.47 km2 and contains 650-million tonnes of raw coal classified as measured and indicated resources, with African Energy saying on Tuesday that the granted mining lease contains more than enough coal for the currently contemplated 450 MW power project, as well as multiple expansions. The mining licence will be valid for 25 years and could be extended for a further 25-year period on written application to the government.
(Irish Examiner 03/29/17)
Irish prospecting firm Botswana Diamonds has reported a 15.5% narrowing of first-half losses and further progress at assets it holds in southern Africa. The John Teeling-chaired AIM-listed miner yesterday reported pre-tax losses of £136,000 (€157,400) for the six months to the end of December; down from £161,000 for the same period in 2015. The latest period’s losses were made up solely of administrative costs, while the previous year’s interim loss included a £34,000 impairment charge and a £6,000 loss on...
(Reuters (Eng) 03/23/17)
China's Sinopec (600028.SS) (0386.HK) will pay almost $1 billion for a 75 percent stake in Chevron Corp's (CVX.N) South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced on Wednesday. China Petroleum and Chemical Corp, or Sinopec, Asia's largest oil refiner, said the assets include a 100,000 barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban as well as 820 petrol stations and other oil storage facilities. Chevron Global...
(Agence Ecofin 03/20/17)
At the Africa CEO Forum which opened this morning in Geneva, AFD Group – in partnership with the European Union – unveiled the “African Renewable Energy Scale-Up facility”, designed to boost private sector investment in on–grid and off-grid renewable energy production in Africa. In order to meet Africa’s constantly increasing energy requirements, support must be provided for mass development of the renewable energy technologies – especially solar energy – that will play such a key role over the coming years,...
(Voice of America 03/18/17)
Each year, the University of Southern California hosts the African Global Economic and Development Summit, bringing delegations from Africa to meet with business leaders, government officials and others in the U.S. But this year, the African summit has no Africans. All were denied visas. Visa issues are not uncommon for people traveling from African nations. During her prior three summits, Mary Flowers saw a high percentage of her attendees unable to attain visas. "Usually we get 40 percent that get...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations...
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh,...
(The Independent 03/06/17)
Th term was coined by sceptical officials, worried about the importance given to Commonwealth trade deals ahead of Brexit negotiations. Plans by government ministers to boost trade links with African Commonwealth countries are being internally branded “empire 2.0” by sceptical officials who are worried about the importance being placed on such deals ahead of the UK’s negotiations of leaving the European Union (EU). International Trade Secretary Liam Fox is expected to promise to build better links with the whole of...
(Bloomberg 03/03/17)
Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star. It aims to raise...
(Xinhuanet 02/22/17)
Africa Energy Indaba, the continent's premier energy event, kicked off in Johannesburg on Monday with the aim of finding solutions to the continent's energy future. The three-day conference is being attended by the governments' representatives, business and funders. The meeting seeks to unleash the continent's potential by coming up with an energy mix to develop Africa. Dr. Garth Strachan, Deputy Director General and Head of Gas Industrialization Unit in South Africa's Department of Trade and Industry said the recent discoveries...
(AFP (eng) 02/15/17)
Sub-Saharan Africa, where more than a half billion people live without electricity, trails the world in government policies that promote sustainable energy, according to a new World Bank report Wednesday. Much of the rest of the world, however, has made strides toward making energy broadly available, developing renewable power sources and increasing efficiency, the inaugural Regulatory Indicators for Sustainable Energy report said. In a survey of 111 countries, the World Bank found that through 2015 nearly 80 percent had begun...
(Standard Digital 02/09/17)
Hundreds of business and political personalities yesterday attended a German-African economic summit in Nairobi, where German Minister for Economic Cooperation and Development Gerd Mueller talked about his “Marshall Plan” for Africa. The plan is “with Africa, not for Africa,” Mueller (pictured) said, stressing that it would be based on cooperation between equals rather than the principles of traditional development aid. The plan, which Mueller presented to the German parliament’s development committee on Wednesday, is based on fair trade conditions, investment...

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