| 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...
(Bloomberg 04/19/17)
Zambia, Africa’s second-largest copper producer, plans to reach an aid deal for as much as $1.6 billion with the International Monetary Fund by the end of April, Finance Minister Felix Mutati said. Bond yields fell. “At the moment we know that we can get up to $1.6 billion -- if you ask me, I’d go for the maximum,” he said in an interview Monday in the capital, Lusaka. “Hopefully the program can be presented to the board sometime end of June, beginning of July.” The country has been talking about getting IMF aid since 2014, but resisted after two presidential elections since then made the required reforms politically unattractive. The country’s fiscal deficit has risen, foreign-exchange reserves have declined, and...
(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...
(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...
(Xinhuanet 04/14/17)
Chinese telecom giant Huawei on Thursday signed a memorandum of understanding with Zambia's biggest public university for an Information Communication Technology (ICT) development program aimed at boosting knowledge in learners. The Chinese firm signed the deal with the University of Zambia (UNZA) for the establishment of a Huawei Authorized Network Academy and Practice Center at the learning institution situated in Lusaka, the country's capital. Thomas Hu, the company's country director, said the program includes the provision of wireless, transmission, optical...
(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...
(The Citizen 04/06/17)
Dar es Salaam — Zambian authorities have seized about 200 Tanzanian trucks carrying logs from the DR Congo, according to the Tanzania Truck Owners Association (Tatoa) claims. Tatoa chairperson Angelina Ngalula said more than 400 Tanzanian drivers and their turn boys are also allegedly held in Zambia. Ms Ngalula told reporters in Dar es Salaam yesterday that the Zambian authorities believe the logs are from the Southern Africa country, and not from the DR Congo. In February, Zambia banned the...
(Zambian Eye 04/05/17)
President Edgar Lungu has officially commissioned the Zambian Breweries’ US$33 million state-of-the-art malting plant in the Lusaka South Multi Facility Economic Zone (LS-MFEZ). “This new facility, which is the first of its kind in Zambia, will enable locally grown barley to be processed into malt, the main ingredient for clear beer. It will contribute to creating business for farmer suppliers who will provide the brewery with barley, thus spurring economic growth and job creation, ultimately putting more money in people’s pockets,” said President Lungu during his address to assembled dignitaries, including Finance Minister Hon. Felix Mutati and Minister of Commerce, Trade and Industry Hon. Margaret Mwanakatwe.
(Reuters (Eng) 04/05/17)
A South African company planned to build a dam and 235 megawatt hydro-electric power station costing about $1.26 billion (R16.9 billion) in Zambia to help plug a power shortage, Zambia’s embassy in Pretoria said last Friday. Zambia generates about 2600MW, mostly from hydro power stations. Generation is running below capacity because of poor rainfall. Alongside growing demand for electricity, this has left the country with a deficit of about 600MW. MDH South Africa has proposed being an anchor developer for...
(Zambia Reports 04/05/17)
Government has formally begun working on a plan to regulate the sale and consumption of alcohol in Zambia. Minister of Local Government Vincent Mwale has disclosed that he has to this effect already had meetings with alcohol producers in Zambia. Mwale says it has been established that there is illegal production of alcohol in the Country whose brands do not have traces of the manufactures. He says government is aware that some of the illicit alcohol brands commonly known as...
(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...
(Reuters (Eng) 03/31/17)
Zambia is attempting to convert the nation to energy-saving light emitting diode (LED) lightbulbs to help plug crippling power shortages that have hit mining and agriculture and imposed daily rationing on parts of the country. If all homes and industries switch to the longer-lasting bulbs, the country could save up to 200 megawatts of electricity annually - about 30 percent of its power deficit - according to the state-owned Zambia Electricity Supply Corporation (ZESCO). The company is planning to distribute...
(Lusaka Times 03/30/17)
Lusaka has the potential to help reach Zambia’s target of 1 million tourists per year by ensuring that business travellers to the capital city enjoy their stay beyond conferencing, meetings and workshops. Business travellers to Lusaka are an untapped market for tourism and Zambia has not taken advantage of the capital city’s central location for international and regional business meetings and conferences. According to the Ministry of Tourism and Arts, business tourists accounted for 54 percent of the total visitors...
(Zambia Reports 03/29/17)
President Edgar Lungu has expressed disappointment at the extent to which the illegal mukula tree trade has increased. President Lungu said this when he visited Nakonde border post where he came to first hand reality of the impounded commodity. "Yesterday, I toured the Nakonde boarder. I was very disappointed with the continuing illegal Mukula tree trade," he says, adding "I have warned everyone engaging in this illegal trade to stop immediately. I have also directed law enforcement agencies to be...
(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 Namibian 03/17/17)
Refugees and former refugees are contributing positively to Zambia's economy, and have the potential to contribute further to the country's development if legal and other obstacles are removed, findings of a new study seen on Tuesday have shown. The study, conducted by researchers from the Institute of Economic and Social Research of the University of Zambia, in technical partnership with the Refugee Studies Centre, University of Oxford, from October last year to January this year, targeted refugees living at two...
(Bloomberg 03/16/17)
Zambia said its corn output may climb to more than 3 million metric tons this year, while the government will maintain an export ban until it receives crop estimates later this month. Agriculture Minister Dora Siliya said there were “initial indications” of the potential production figure, during a Thursday interview in the capital, Lusaka. Zambia will review its ban on exports of the staple food if the harvest survey due for completion by the end of March shows the country...
(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,...

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