Wednesday 18 October 2017
(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 and offers accommodation ranging from single bedrooms to whole homes in 65,000 cities in 191 countries. The company announced Tuesday that it would invest $1 million (850,000 euros) in Africa by 2020 to "promote and...
(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 the 2017 World Food Prize on Thursday October 19, announced a press release issued by the AfDB on October 16, which also said “the prize is to agriculture what the Nobel Prize is to peace, science and literature.” The World...
(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...
(APA 10/05/17)
APA-Gaborone (Botswana) - Botswana’s level of foreign exchange reserves has slightly declined to US$740 million in June compared to US$780 million the previous month. According to Finance Minister Kenneth Matambo, the fall in the country’s level of foreign exchange reserves was mainly due to an increase in demand for foreign exchange to pay for imported electricity. In December 2016, foreign exchange reserves declined by 9.5 percent year-on-year from the US$840 million recorded in 2015. The minister revealed that the Government Investment Account (GIA) accounted for US$30 million of the total reserves in June. Matambo said although the stock of foreign reserves remains comfortably high...
(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...
(APA 10/04/17)
APA-Gaborone (Botswana) - Botswana has listed the defence and security sector as among the five priority spending areas for the 2018-19 national budget, getting P66.9 billion (about $670 million). This information has emerged at a time when Botswana intends to buy 8 Gripen fighter jets from Sweden worth more than $1.6 billion, and Korea Aerospace Industries’ FA-50s, whose price tag is yet to be disclosed, according to local media. Finance and Economic Development Minister Kenneth Matambo has said the security...
(Xinhuanet 09/29/17)
Botswana Foreign Minister Pelonomi Venson-Moitoi said Thursday that the African country and China need each other at a reception celebrating the 68th anniversary of the founding of the People's Republic of China. At the event, Venson-Moitoi said a lot of African countries have benefited from China's development. She also praised China's contribution to the development of education, technology and economy in her country. "The most important thing is that we must have sincerity, and I know we both need each other," she said. Chinese Ambassador to Botswana Zhao Yanbo made a speech at the event about China's achievements in economic and social development, as well as China-Botswana relations.
(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...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(Bloomberg 09/23/17)
Much of the focus around Indian mining tycoon Anil Agarwal’s pursuit of Anglo American Plc has been the company’s South African operations. But Botswana could be similarly important. Botswana is the source of about two-thirds of Anglo’s diamonds and the country is a major stakeholder in De Beers, the world’s biggest gem producer. There are few countries as dependent on a single commodity as Botswana is with diamonds and the nation is highly protective of the industry. So far Botswana...
(Morocco World News 09/22/17)
A recent survey reveals some hidden gems for investors looking to put their money to work overseas. Botswana, Morocco, and Egypt are Africa’s best nations for foreign direct investment (FDI), according to a survey by an Africa-based economic research institute. Botswana is as close to an actual gem as a country can be; its economy is driven by its diamond mines. The southern African nation tops the list because of its stable democracy, improved credit rating, current account ratio, import...
(Botswana Daily News 09/22/17)
Maun — Water situation in Ngamiland district is expected to improve following efforts made by Water Utilities Corporation to address the problem. Councillors were informed that water supply improvement efforts were on-going as the corporation had floated a tender for works involving the design, supply, installation, testing and commissioning of five diesel standby generators for villages of Tsau, Mohembo East and Somelo Treatment Plants as well as for the Gumare and Nxamasere booster stations. The council chairperson, Mr Duncan Enga...
(Mining Weekly 09/21/17)
ASX- and Aim-listed Tlou Energy has submitted a proposal to the Botswana Ministry of Mineral Resources, Green Technology and Energy Security to develop up to 100 MW of coalbed methane- (CBM-) fuelled pilot power plants in the African country. The government of Botswana earlier this year requested proposals for the development of CBM-fuelled pilot power plants, aimed at assisting the development of a CBM gas industry in the country. Tlou said on Thursday that if its submission response was successful, it would provide an ideal pathway towards a power purchase agreement. Once the initial development is completed, Tlou’s gasfields would be connected to the regional grid
(News Day 09/21/17)
Zimbabwe has effectively shelved plans to extend its Feruka pipeline to Francistown, Botswana, citing viability concerns over the project, an official has said. The deal had been proposed in attempt to make the pipeline, which runs from Beira to Harare, more profitable by opening it up to the region and increasing traffic volumes. In January, the government reduced the pipeline tariff from 8,05 cents to 6,50 cents per litre to lure fuel dealers who otherwise opted to use road transport...
(APA 09/19/17)
Botswana, Namibia and Mauritius have missed out on the list of top 10 best investment destinations in Africa in 2018 but are seen as “investment grade” economies, according to a new report by South African-based Rand Merchant Bank. The report, titled “Where to Invest in Africa 2018”, showed that Egypt has now replaced South Africa as the best investment destination on the continent. South Africa lost its traditional spot at the top of the investment rankings. South Africa has ranked...
(The Guardian 09/18/17)
Anna Jones says that, through selling its cocoa cheaply, Africa is exporting its wealth overseas; while Sue Banford claims that the soya moratorium in the Amazon has done nothing to halt deforestation. Only the final paragraph in your article on cocoa farming causing deforestation in Ivory Coast (Forests pay price for world’s taste for cocoa, 14 September) mentioned the most fundamental thing – the farmer’s livelihood, or lack of it. The low value of his (or more likely her) crop...
(Bloomberg 09/15/17)
Societe Generale SA, challenged on its home turf by Orange SA’s push into banking, is fighting back with a new mobile lender in Africa. The French lender started YUP, a new app for smartphones, in Senegal and Ivory Coast and plans to begin operating in four other sub-Saharan countries this year and next, the company said on Thursday. The bank aims to double its client base to 2 million in the region within three years. “Telcos have opened the way...
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for...

Pages