Monday 23 October 2017
(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 franchise). “The idea is to produce everything in local markets,” says Erwiah. “Particularly in Africa, particularly in Ghana.” The founders set up the company in partnership with the United Nations’ Ethical Fashion Initiative, which also...
(Bloomberg 09/26/17)
Ethiopia accused a semi-autonomous territory in neighboring Somalia of illegally displacing more than 3,000 long-term Oromo residents in the wake of clashes on the boundary between two of Ethiopia’s regional states. The northern territory of Somaliland displaced the Oromos, who belong to Ethiopia’s largest ethnic group and are now sheltering in Ethiopia’s Oromia and Somali regional states, Information Minister Negeri Lencho told reporters Monday in the capital, Addis Ababa. He said the eastern part of Oromia experienced “bloody conflict” in the border clashes earlier this month and described Oromos as having been “targeted” there, in Ethiopia’s Somali
(Voice of America 09/25/17)
When Tashitaa Tufaa first arrived in Minneapolis from Ethiopia in 1992, he remembers craning his head skyward in disbelief. Looking up at the tallest skyscraper he had ever seen, he began counting the stories until he couldn’t count anymore. Eventually, he found out the building had 55 floors. It was a long way from Negele Arsi district in the Oromia region of Ethiopia where he grew up. As a child, he worked alongside his 13 siblings on the family farm...
(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 09/22/17)
Karuturi Global Ltd., an Indian flower grower, demanded compensation from the Ethiopian government for a series of failed land deals as it prepares to exit the Horn of Africa nation. The company wrote a letter to Prime Minister Hailemariam Desalegn accusing the state of nationalizing its farming investments and said it should be given “adequate and appropriate” redress. The Sept. 20 letter was emailed to Bloomberg by Karuturi Managing Director Sai Ramakrishna Karuturi. “We stand tired and defeated and wish...
(Bloomberg 09/19/17)
Ethiopian authorities should exercise restraint at a festival held by the country’s largest ethnic group in October, after security forces at last year’s event triggered a fatal stampede by using teargas and discharging firearms on protesters, Human Rights Watch said. Scores of people -- possibly hundreds -- died at the Irreecha festival on Oct. 2, 2016, from falling into a deep trench, being trampled or shot after the government responded to unrest with force, the New York-based advocacy group said...
(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)
Ethiopia is considering finding a new partner to develop a potash mine abandoned last year by Israel Chemicals Ltd., which has sought compensation at an arbitration court after accusing the government of failing to support the project. Several companies are interested in developing potash deposits in the country’s northeastern Afar region, Mines Minister Motuma Mekassa said in an interview Wednesday in the capital, Addis Ababa. The government is eager to begin work on the project as long as there are...
(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...
(Voice of America 09/14/17)
WASHINGTON — At least 32 people have been killed in clashes across Ethiopia's Oromia and Somali regions following clashes between rival ethnic Somali and Oromo forces, a former Ethiopian lawmaker said. Speaking to VOA Somali Service, Boqor Ali Omar Allale said at least 32 ethnic Somalis, including his younger brother, were killed on Monday night in Awaday, a small town between Ethiopia's most holy Muslim town of Harar and its big eastern city of Dire Dawa. "They were innocent business...
(Bloomberg 09/11/17)
The South African companies that dominate the U.K.’s growing private hospital industry are counting on more people like Katie Corrie. A children’s party entertainer, Corrie opted to use 13,000 pounds ($17,000) of her savings and inheritance to get a hip replacement rather than spend months on a National Health Service waiting list. Britons like her are forking out almost 1 billion pounds a year to cover their own medical expenses, a trend that’s giving at least one industry the scope...
(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...
(Voice of America 09/05/17)
Human Rights Watch is urging the Saudi government to halt its plan to expel hundreds of thousands of Ethiopian immigrants who missed a late August deadline to register or face deportation. Felix Horne, HRW’s senior researcher for the Horn of Africa, says the immigrants have a legitimate concern of being imprisoned or worse if they return to their home country. “They say that they will be killed, arrested and tortured by the government they fled from," Horne told VOA's Horn...
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of...
(Bloomberg 08/30/17)
One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of the transaction. SanLei has secured a marketing and distribution agreement...
(Bloomberg 08/24/17)
Every African nation that’s sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market. The average yield on sovereign Eurobonds in Africa has hovered near the lowest level in two years this month, according to a Standard Bank Group Ltd. index, even after Moody’s Investors Service cut Namibia to below investment grade on Aug. 11. The world’s biggest producer of marine diamonds had been the continent’s only...
(The Independent 08/21/17)
The UK's International Development Secretary, Priti Patel, urges the world to do more to help people 'at risk of starving to death as extreme hunger stalks East Africa' Millions of people in Ethiopia require “immediate life-saving intervention” after a severe drought and major flash floods have devastated livestock and crops, the United Nations has warned. At least 7.8 million people have been receiving emergency food aid since April, up from 5.6 million at the start of the year, but a...
(Bloomberg 08/21/17)
GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telecommunications towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends to businesses as well as households, cutting...
(Voice of America 08/16/17)
Food insecurity in the Somali region of Ethiopia has worsened, putting 700,000 people on the verge of starvation, according to Oxfam International. The humanitarian organization says that about 8.5 million people across the country face a high risk of hunger, a 30 percent increase since the beginning of the year. Food shortages and hunger have led to displacement and negative coping mechanisms such as increases in child labor, early marriage and school dropouts, according to a recent joint report by...

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