Friday 26 May 2017
(Cnbc Africa 10/28/16)
The World Bank recently released the Doing Business 2016/17 report. The survey tracks a set of regulatory indicators related to business start-up, operation, trade, payment of taxes and closure, by measuring the time and cost associated with various government requirements. However, the index does not track variables such as macroeconomic policy, currency volatility (an extremely important factor in many emerging market countries) or crime rates, which are also important in investment decisions. According to the most recent rankings, New Zealand has the most accommodative business environment globally, having overtaken Singapore since the previous report. From an African perspective, Mauritius has maintained its title as the most accommodative business environment on the continent followed by Rwanda, Morocco, Botswana and South Africa...
(AFP (eng) 10/27/16)
Complex diverse political agendas are driving African nations to quit the International Criminal Court, with leaders seeking to cloak the move by reigniting age-old anger at the West, analysts say. Gambia's announcement that it would be the third country to withdraw from the court is all the more frustrating as it comes at a time when the tribunal is beginning to probe some of the world's most intractable conflicts, in places such as the Palestinian territories and Afghanistan, experts say. Set up in 2002, the ICC's mission is to try the world's most heinous crimes which national governments are either unable or unwilling to prosecute. And most of the ICC prosecutions, such as in the Democratic Republic of the Congo,...
(Concord Times 10/26/16)
Programme Manager of the Expanded Programme on Immunisation in the Ministry of Health and Sanitation yesterday revealed that over 1.5million children between 0 and 59 months would be targeted for free Oral Polio Vaccine (OPV). Dr. Dennis Marke told a presser at the conference hall of the ministry that the fourth round of National Anti-Polio campaign would run from October 28 to 31, 2016 countrywide. As part of efforts to prevent vaccine preventable, diseases and maintain polio eradication, the health ministry with support from the United Nations Children Fund (UNICEF) and World Health Organisation (WHO) conducted three rounds of free polio vaccination in February, April and September this year.
(Reuters (Eng) 10/26/16)
African states unhappy with the International Criminal Court(ICC) should work to reform it from within rather than pulling out, Botswanan foreign minister Pelomoni Venson-Moitoi, a candidate to become the next African Union (AU) chief, said. With the AU increasingly divided over the ICC, South Africa announced last week that it planned to quit, but Venson-Moitoi said she believed an African war crimes court could be beefed up to work alongside its Hague-based counterpart. Although South Africa argued that the ICC's Rome Statutes were at odds with its laws granting leaders diplomatic immunity, other African countries see the tribunal purely as an instrument of colonial justice that unfairly targets the continent. "I don't see why we should be pulling out. The...
(AFP (eng) 10/25/16)
The International Criminal Court on Monday urged member states to seek a consensus with critical African nations, while stressing that South Africa and Burundi's announced departures would not take place for at least year. "Today more than ever, there is a huge need for universal justice," said Sidiki Kaba, president of the assembly of state parties to the ICC founding treaty, evoking "the tragedies which are happening in front of our eyes". Kaba, also Senegal's justice minister, said it was necessary "to engage in dialogue with the nations which want to leave the ICC. For that we must listen to their concerns, their recriminations and their criticism". South Africa dealt a heavy blow to the troubled international court on Friday...
(This Day Live 10/24/16)
The London Stock Exchange (LSE) has provided $26.1 billion for African companies in the last 10 years, the Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has said. Onyema disclosed this while speaking at the third “London & Lagos Capital Markets in Partnership’ conference held at the LSE at the weekend. According to him, eight Nigerian companies were among those that benefitted from the international capital raising on the LSE, noting that more African companies (112) are listed in London than any other international exchange. The 112 companies, he said, have a combined market capitalisation in excess of $200 billion, the largest concentration of African quoted companies outside of Johannesburg. Out of these companies, eight companies...
(AFP (eng) 10/21/16)
Demand for homegrown contemporary music is sweeping Africa and driving a creative boom in an industry otherwise battered by falling CD sales and rampant piracy. A recent study of the entertainment sector by PricewaterhouseCoopers (PwC) accountants showed rapid earnings growth in many African countries, fuelled largely by live performances by local artists. "Consumers are increasingly wanting local content," Vicki Myburgh, a PwC director who conducted the study released last month, told AFP. "The Nigerian music market... will (soon) grow at nearly 13 percent annually, which is a fantastic rate." This weekend, African talent will be celebrated in Johannesburg at the annual MTV Africa awards set up in 2008 to recognise those "who have made the most impact on African music...
(Reuters (Eng) 10/20/16)
Encouraged by their success in halting a mass influx of refugees by closing Greek borders and cutting a controversial deal with Turkey, EU leaders are getting tough on African migrants too. A Brussels summit on Thursday will endorse pilot projects to pressure African governments via aid budgets to slow an exodus of people north across the Sahara and Mediterranean. It also wants swift results from an EU campaign to deport large numbers who reach Italy. "By the end of the year, we need to see results," one senior EU diplomat said on Wednesday. Arrivals in Italy so far this year are nearly six percent higher than the same period of 2015. Italy received 154,000 migrants last year and this year's...
(Bloomberg 10/19/16)
Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion. All Naspers Ltd., now Africa’s most valuable company, has to do is figure out how to make money from its other properties: The whole company is worth only $72 billion, less than its stake in Shenzhen-based Tencent Holdings Ltd. Investors aren’t impressed with Naspers’s operations in pay-TV, newspapers and e-commerce in such countries as South Africa, Russia and India. To win them over, Chief Executive Officer Bob Van Dijk has launched an aggressive push to sell some assets, invest in others and expand operations such as classified advertising into new markets. If it pays off, comparisons...
(Reuters (Eng) 10/18/16)
Dubai - Emirates airline could reduce the frequency of its flights to African cities or cut routes completely if current economic and financial challenges on the continent continue, President Tim Clark told reporters. Foreign airlines flying to Nigeria have started to refuel abroad because jet fuel supplies there have become more expensive and scarce as the country battles a hard currency shortage. Emirates has started a detour to Accra, Ghana to refuel its daily Abuja-bound flight, a spokesperson said last month; the airline had already cut its twice-daily flights to Lagos and Abuja to just one. “In certain African countries, the currencies have really gone down, so we're reflecting on a number of these to look at where it's just...
(Voice of America 10/17/16)
Telecom workers in Burkina Faso were on strike again this month, leading to phone and internet interruptions. The country has only one internet service provider, Onatel, but the days of the telecom monopoly in Africa may ending. The Burkina Faso telecommunications authority fined Onatel 5 billion CFA francs ($8.5 million U.S.) in response to the strike, which cut internet access across the country for more than a week. Arouna Ouédraogo, an information technology specialist, said people without access to the internet become desperate. He said he businesspeople rushing to his internet cafe with contracts to sign and documents to send, but he couldn't help them. "People outside this country just cannot imagine that there is no internet" for such an...
(AFP (eng) 10/15/16)
Stemming the astronomical losses caused by crime in the oceans surrounding Africa is the focus of a major continental summit on Saturday in the Togolese capital, Lome. "Over recent decades, the accumulated revenue losses resulting directly from illegal activities in the African maritime sector add up to hundreds of billions of US dollars, without counting the loss of human lives," the African Union (AU) said in an online statement about its Protect Our Oceans meeting. Up to 30 African heads of state and government are expected to attend the gathering, whose full title is the AU Extraordinary Summit on Maritime Security and Safety and Development in Africa. The long-term aim, according to the AU, is to "make maritime space the...
(Reuters (Eng) 10/14/16)
About 70 sub-Saharan African migrants forced their way over a barbed wire barrier into Spain’s North African enclave of Melilla Thursday. They ran to a local immigration center where they were met by dozens of migrants cheering “victory, victory” although their legal status in Spain has yet to be determined. Migrants wait weeks and sometimes months at the short-stay immigrant center in the hope of being transferred to a refugee reception center in mainland Spain, said Government Delegation of Melilla spokesperson Irene Flores. Spain has two enclaves in Morocco, Ceuta and Melilla, and both are hot spots for African migrants making their way to Europe either by climbing over the barriers, going around them or swimming along the coastline. After...
(Reuters (Eng) 10/13/16)
When German Chancellor Angela Merkel toured three African nations this week for talks on curbing migration to Europe, the leader of the world's poorest country, Niger, suggested it would take a "Marshall Plan" of massive aid to stop people coming. Merkel politely declined the request, expressing concern about how well the aid would be spent and noting that, at a summit in Malta last year, the European Union had already earmarked 1.8 billion euros for a trust fund to train and resettle migrants. But Niger's President Mahatma Issoufou also proposed something perhaps more significant, in the long run, than a development package - bringing Niger's population growth down from 3.9 percent, the highest in the world. Though he gave no...
(APA 10/12/16)
The Wednesday's edition of Sierra Leonean newspapers is dominated by reports of the economic woes of the country, which has resulted in austerity measures declared last week by President Ernest Bai Koroma. While the government tries to implement the measures, it has come under attack from some quarters of the public, which blamed it for the state of the economy in the first place. The opposition has been leading the spree of accusations. Awoko features today the head of the PMDC, Charles Francis Margin, saying the government should take the measures it put in place seriously. On its front page is the views of a prominent lawyer, Francis Kaifala, who is featured. 'Government is under economic peril', the headline reads...
(Graphic Online 10/12/16)
German Chancellor Angela Merkel has emphasised that Africa will be a priority when her country takes over the G20's revolving presidency at the end of 2016. Speaking in Ethiopia yesterday on the final stage of a three-nation African tour, which also included visits to Mali and Niger, Mrs Merkel pledged development as well as military aid on her trip. She said it was important to stem migration at its source. Germany took in more than one million irregular migrants last year - many from war-ravaged Syria, Iraq and Afghanistan, but also many fleeing economic hardship across Africa. Migration is expected to be a key issue in next year's federal elections, though Mrs Merkel has not yet declared whether she will...
(AFP (eng) 10/11/16)
Raised on the backstabbing intrigue of 1980s American soaps "Dallas" and "Dynasty", and later, the heady drama of South American telenovelas, Africans are enjoying a surge in local TV content they can finally identify with. It took a while, but in the past decade local programming has soared in sub-Saharan Africa's key economies, a rise driven by both foreign satellite networks and television stations on the continent. This growth has delivered up local shows such as Kenya's comedic "Real Househelps of Kawangware" -- a play on the US "Real Housewives" series -- along with talk shows, political satire and continent-wide reality TV such as "Big Brother Africa" and "Project Fame". And demand is set to grow with the number of...
(AFP (eng) 10/10/16)
Africa will come together to battle piracy and illegal fishing for the first time at an African Union maritime security summit that kicks off in Togo on October 15. The continent urgently needs to fight "extremely high stakes" piracy and illegal fishing in its waters by joining forces over policy and working to raise necessary funds, Togo's Foreign Minister Robert Dussey told AFP ahead of the meeting. - Why is this meeting being held? - "These are very high stakes for Africa. At least 92 percent of imported goods arrive on the continent across the seas and oceans. Of the 54 countries in the African Union, 33 have a coastline," said Dussey. "During the summit, several issues will be tackled...
(AFP (eng) 10/08/16)
World economic leaders gathered in Washington this week to defend globalization, delivering a single message in unison: Protectionism will not save you. But this glosses over the plight of Africa, which is sinking further into poverty despite years of free trade. According to the International Monetary Fund, which held its annual meetings this week with the World Bank, growth in Sub-Saharan Africa is in free-fall this year, with a growth rate of 1.4 percent, down from 3.4 percent in 2015, its lowest in a quarter century. The regional economy will therefore grow more slowly than the population, at the risk of deepening poverty in a region already home to more than half of the 766 million people on earth who...
(AFP (eng) 10/07/16)
Investment into Africa may buck the global downward trend and stage a rebound this year despite low prices hitting the oil and gas sector, a UN agency said Thursday. While foreign direct investment, a key driver of trade and economic growth, is set to drop by 10 to 15 percent this year globally, in Africa it may increase by 6 percent to $55 to 60 billion, the United Nations Conference on Trade and Developments (UNCTAD) said in a report. "This bounce-back is already becoming visible in announced greenfield projects in Africa. In the first quarter of 2016, their value was $29 billion, 25 percent higher than the same period in 2015," said the agency. While north African countries such as...

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