| Africatime
Friday 24 March 2017
(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 1.5 billion rand ($115 million) for the fund, which may also buy commodities such as grains, while targeting an internal rate of return of 8 percent to 12 percent, he said. “We looked at the increase in corn demand globally,...
(AFP (eng) 03/02/17)
A film raging against colonialism and the exploitation of Africa wowed viewers at the continent's top cinema festival Wednesday, winning shouts of approval at a screening packed to bursting point. "The African Storm" tells the story of an African president who nationalises businesses run by racist, cynical Western executives. Directed and produced by its Beninese star Sylvestre Amoussou, it tackles several hot-button issues including an exit from the CFA franc currency, closer ties with Russia and China as opposed to the West, criticism of the International Monetary Fund and World Bank, and pride in being African. One of 20 feature-length movies on show at the Panafrican Film and Television Festival (Fespaco) in Burkina Faso's capital Ouagadougou, the movie was punctuated...
(AFP (eng) 02/28/17)
The Ibrahim Prize for Achievement in African Leadership -- the world's biggest individual prize -- drew a blank once again in finding a suitable laureate, it was announced Tuesday. The prize only goes to a democratically-elected African leader who demonstrated exceptional leadership, served their mandated term and left office within the last three years. The award comes with $5 million (4.7 million euros) paid over 10 years and $200,000 annually for life from then on. The prize, founded by Sudan-born telecoms tycoon Mo Ibrahim, has only been given four times in its 10-year existence. The philanthropist has said in the past that making no award sent just as strong a message on African leadership. "A very high bar was deliberately...
(Reuters (Eng) 02/27/17)
A U.N. operation with an attack helicopter dispersed heavily armed militiamen in the remote Central African Republic town of Bambari town on Sunday, the peacekeeping mission said in a statement. About 40 fighters from the Popular Front for the Renaissance of Central African Republic (FPRC) armed with AK-47s and rocket propelled grenades had gathered in the town, but U.N. forces intervened to prevent them carrying out an attack, it said. The action was in keeping with the peacekeeping forces' mandate to protect civilians and its aim to "prevent a war" between the militia and the rival Union for Peace in Central African Republic (UPC) rebels, it added.
(AFP (eng) 02/27/17)
An African road movie about four women wowed its audience Sunday as it kicked off the Panafrican cinema and television festival (Fespaco), a showcase for the continent's burgeoning film industry. "Borders" ("Frontieres") directed by Apolline Traore, a Fespaco laureate in 2013, sweeps across Africa as its protagonists journey through Senegal, Mali, Burkina Faso and Benin on their way to Nigeria. Along the way the women -- Ivorian, Senegalese, Burkinabe and Nigerian actresses -- are spared nothing as they are beset by customs officers, thieves, murderers and rapists. The film -- the first feature-length film to show at the festival -- deals with "the bravery of women," Traore told AFP at the festival in the Burkinabe capital Ouagadougou. "There is a...
(AFP (eng) 02/23/17)
For the first time in Africa, researchers said Wednesday they have detected a malaria parasite that is partially resistant to the top anti-malaria drug, artemisinin, raising concern about efforts to fight a disease that sickens hundreds of millions of people each year. The discovery means that Africa now joins southeast Asia in hosting such drug-resistant forms of the mosquito-borne disease. Malaria infected more than 200 million people and killed some 438,000 people worldwide in 2015, most of them children in Africa. "The spread of artemisinin resistance in Africa would be a major setback in the fight against malaria, as ACT (artemisinin-based combination therapy) is the only effective and widely used antimalarial treatment at the moment," said lead author Arnab Pain,...
(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 of gas in Mozambique, Angola and Tanzania provides a huge opportunity for the continent. He said there is a need for the countries to work together to tap benefits from the gas for the good of the continent. Strachan said...
(Bloomberg 02/21/17)
Ashish Thakkar, who co-founded Africa banking conglomerate Atlas Mara Ltd. with ex-Barclays Plc head Bob Diamond, lost a ruling over the ownership of family assets in a London divorce case, with a judge questioning Thakkar’s truthfulness. Judge Philip Moor ruled that Thakkar, and not his mother and sister, was the owner of disputed assets in the divorce. He found that the 35-year-old owned 100 percent of Mara Group Holdings Ltd. and other corporate entities. The result will have ramifications in the proceedings where a judge will have to decide how much Thakkar -- described in videos posted on his foundation’s website as "Africa’s Youngest Billionaire" -- is worth. Thakkar says he has assets of 445,532 pounds ($553,000) while his wife,...
(Reuters (Eng) 02/17/17)
Rebels in Central African Republic killed at least 32 civilians after clashes with a rival armed group, Human Rights Watch (HRW) said on Thursday, a sign of the fighters' growing boldness amid limited state authority. Despite successful elections last year that were seen as a step toward reconciliation after years of civil conflict, the government and a 13,000-strong United Nations peacekeeping mission have struggled to contain killing sprees by rebel groups. The Union for Peace in Central African Republic (UPC) rebels carried out the killings on Dec. 12 in the town of Bakala, where they had been fighting the Popular Front for the Renaissance of Central African Republic (FPRC), HRW said in a statement. The UPC lured 25 of the...
(AFP (eng) 02/16/17)
An armed group executed at least 32 civilians and captured fighters in the lawless heart of Central African Republic in December, Human Rights Watch said Thursday. "In the town of Bakala, rebels from the Union for Peace in the Central African Republic (UPC) on December 12, executed 25 people after calling them to a school for an alleged meeting," the global watchdog body reported. "Earlier that day, UPC fighters executed seven men who were returning from a nearby gold mine. Accounts of the incidents were provided by a survivor and eight witnesses, including five men who were forced to help dispose of the bodies," the statement added. HRW Africa researcher Lewis Mudge denounced the slaughter as "brazen war crimes by...
(AFP (eng) 02/16/17)
United Nations, United States | AFP | Wednesday 2/15/2017 - 21:38 UTC+2 | 208 words The UN Security Council on Wednesday demanded armed groups in the Central African Republic immediately halt fighting and join peace talks after UN airstrikes targeted rebel fighters. UN attack helicopters opened fire over the weekend on gunmen advancing on the central city of Bambari. UN peacekeeping chief Herve Ladsous told the council there were about 300 fighters moving towards the city in pickup trucks mounted with machine guns. He said it remained unclear how many fighters were killed in the airstrikes, which destroyed at least four of the seven pickup trucks. Following a meeting, the council "urged the armed groups to immediately halt the fighting...
(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 to adopt policies to expand electrical grids, connecting them to solar and wind generation, and to help make electric utilities creditworthy and financially viable while keeping energy prices down. More than a third of countries, home to 96 percent of...
(Voice of America 02/14/17)
U.S. President Donald Trump made his first phone calls to African heads of state Monday, speaking with Nigerian President Muhammadu Buhari and South African President Jacob Zuma. Nigeria and South Africa said the calls were made at the request of the U.S. president, who until now has said little about Africa or African issues since assuming office last month. The Nigerian presidency said Trump and Buhari discussed issues of terrorism, and said Trump assured Buhari the United States is ready to make a new deal to help Nigeria "in terms of military weapons." The statement said Trump also commended Buhari for the strides Nigeria is making against Islamist radical group Boko Haram, and invited Buhari to come to Washington at...
(Reuters (Eng) 02/13/17)
A top militant and three others were killed in Central African Republic when a U.N. helicopter fired on fighters advancing towards the town of Bambari, a rebel group said on Sunday. The UN's mission known as MINUSCA shot at fighters from the Popular Front for the Renaissance of Central African Republic (FPRC), on Saturday after they crossed a "red line" it had set north of the town, said spokesman Vladimir Monteiro. "We were looking to prevent war in Bambari," he said, referring to the town about 250 km (155 miles) northeast of the capital Bangui. A death toll had not yet been established, he added. The FPRC is the largest group within a mostly Muslim rebellion formerly known as Seleka...
(AFP (eng) 02/10/17)
Up to 18 players at the just-completed Africa Cup of Nations could be involved in the new-look CAF Champions League when it kicks off this weekend. Among them is Georges Bokwe, one of two unused goalkeepers in the Cameroon squad that defeated Egypt in the final last Sunday in Gabon. Bokwe was kept out of the starting line-up by the consistent brilliance of Spain-based Fabrice Ondoa, who was included in the team of the tournament. But Bokwe is the first choice for regular Champions League entrants Coton Sport from northern Cameroon cotton town Garoua. Coton qualified for the 2008 final, losing to Al Ahly of Egypt, but have fared poorly recently with first round exits in the past two seasons...
(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 and increasing aid for educational projects. One of the goals of the plan, which the German opposition received with scepticism, is to curb migratory flows from Africa to Europe. Mueller called on German companies to focus on Africa, which he...
(AFP (eng) 02/08/17)
A militia chief and two of his henchmen were shot dead in clashes in Bangui, Central African Republic's capital, sparking a backlash in which a pastor was also killed, police said Wednesday. The incident, which took place on Tuesday, erupted in the flashpoint PK5 neighbourhood as security forces backed by UN peacekeepers went in to question the leader of an armed group, known as "Big Man". "Big Man and his entourage resisted. An exchange of fire erupted and the leader was neutralised along with two of his men," a police source told AFP. Sporadic gunfire continued until nightfall, with militia members retaliating to the arrest operation by surrounding a local apostolic church and killing the pastor, the source said. PK5,...
(AL Jazeera 02/08/17)
The EU must espouse a transnational approach with a clear development agenda that replaces its current security policy. One year ago, 22-year-old Patrick left Douala, the largest city in Cameroon, to become a football star in Europe. A talented midfielder and an ambitious young man, Patrick felt compelled to reach Europe to help him to realise his dreams. But, as he passed through Agadez in Niger, which has become a major transit hub for migrants taking the Central Mediterranean route, reality proved to be grimmer than he had anticipated. Patrick and two of his male relatives, also travelling from Douala, were beaten, robbed and held captive by organised predatory groups. Finally, their tumultuous journey came to an end in Algeria,...
(Bloomberg 02/06/17)
Prem Watsa’s Fairfax Financial Holdings Ltd. is expected to raise about $500 million for its new African investment fund, attracting less than its original goal as investor interest in the region proved weaker than anticipated, according to people familiar with the matter. The Toronto-based insurer sought to raise as much as $1 billion at $10 a share for Fairfax Africa Holdings Corp. in an initial public offering on the Toronto Stock Exchange, according to a regulatory filing in December. Fairfax said it had secured as much as $416 million in commitments for the African venture from both its own funds and partners, including the Ontario Municipal Employees Retirement System, a Canadian pension fund and CI Investments Inc., according to the...
(Xinhuanet 02/03/17)
T20 Africa Conference, the meeting for the G20 think tanks and African countries, ended on Friday in Johannesburg with a commitment to accelerate cooperation between the G20 and Africa. The three-day conference aimed to chart a course for the future cooperation between Africa and the G20. The day ended with the formulation of the communique which will be given to the current G20 chair Germany. The communique will also be the reference for further discussion between Africa and T20. T20 comprises of the G20 think tanks. Dr. Christine Hackenesch, researcher at the German Development Institute (DIE) said, "There was an agreement that there must be a continuous and sustained engagement between G20 and Africa because there is a strong dependence...

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