| Africatime
Sunday 30 April 2017
(Bloomberg 04/28/17)
The International Monetary Fund will send a mission to Zambia in May to continue talks over as much as $1.6 billion in aid the government is seeking after they failed to reach a deal in Washington this month. “Progress was made but program discussions have not yet been concluded,” Alfredo Baldini, the fund’s representative in Zambia, said Friday in response to emailed questions. “The authorities and IMF staff have agreed that a mission will return to Zambia at the end of May to continue the discussions.” Finance Minister Felix Mutati had hoped to strike the loan deal to boost Zambia’s foreign exchange reserves while in Washington for the IMF and World Bank Spring Meetings. The...
(Voice of America 04/28/17)
A low-cost and widely available drug could save the lives of 1 in 3 mothers who would otherwise bleed to death after childbirth, according to a new study. Severe bleeding, known as postpartum hemorrhage, or PPH, is the leading cause of maternal death worldwide, killing more than 100,000 women every year. Even for mothers who survive, it is a painful and traumatic experience. The world's poorest countries, especially in Africa and India, are the worst hit. Drug from 1960s But there is new hope. In the 1960s, Japanese researchers developed a drug called tranexamic acid, which works by stopping blood clots from breaking down. But they could not persuade doctors to try the drug for treating PPH. The London School...
(Bloomberg 04/27/17)
Zambian opposition leader Hakainde Hichilema will remain in custody until next week when his treason trial will resume, the Union Party for National Development said. Magistrate David Simusamba on Thursday adjourned the case until May 4, the party, which Hichilema leads, said in a statement on its Twitter account in the capital, Lusaka. Political tensions in Africa’s second-biggest copper producer, which have been high since presidential elections last year that Hichilema lost to Edgar Lungu, escalated when police detained the...
(Bloomberg 04/26/17)
Zambia, Africa’s second-largest copper producer, expects its production of the metal to jump about 10 percent this year to a record. The country, home to mines owned by companies including Glencore Plc, Barrick Gold Corp., First Quantum Minerals Ltd. and Vedanta Resources Plc, will produce about 850,000 metric tons of copper this year, Mines Minister Christopher Yaluma said in an interview in London on Tuesday. “Improved and modernized mining through the same infrastructure” will enable output to expand, he said. Production from First Quantum’s Sentinel operation will account for much of the nation’s increase, which would top a previous record of about 790,000 tons in 2013, he said.
(Bloomberg 04/26/17)
Zambia, Africa’s second-biggest copper producer, is close to selling a stake in ZCCM Investments Holdings, a state controlled mine holding company, for more than $100 million, according to three people familiar with the matter. Sapir Capital, an Israeli private equity company that’s invested in industries from nanotechnology to oil and gas, is waiting for final government approval for the acquisition of the 17.25 percent stake directly held by the government, said two of the people who asked not to be...
(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...
(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...
(Bloomberg 04/18/17)
Zambia’s main opposition party called for the immediate release of its leader, Hakainde Hichilema, who was charged with treason this week for failing to move off the road for the president’s motorcade. Hichilema wasn’t driving the vehicle that allegedly obstructed the president and the charges are politically motivated, the United Party for National Development Vice President Geoffrey Mwamba told reporters Thursday in the capital, Lusaka. Mwamba said he’s also being targeted for arrest. “This was a pre-planned move to arrest Hakainde Hichilema,” he said. “I’m also on the chopping board. They’re also coming to arrest me.” The treason charge followed months of tension between the opposition and the government.
(Voice of America 04/17/17)
The Italian coast guard says it has rescued nearly 6,000 migrants on the Mediterranean since Friday, underscoring the continued flow of people along this dangerous route. A group of Africans living in Europe visited Cameroon this week to launch a campaign against illegal migration. The group is called “No More Death in the Desert or on the Sea.” Its mission is simple: to educate youth in Africa about the harsh realities of illegal migration. "We want to tell them that...
(Voice of America 04/05/17)
A Red Cross report says African countries are failing their internally displaced people. Reversing that trend was the subject of a high level meeting of the International Red Cross and the African Union that wrapped up Tuesday in Zimbabwe. Africa has about 13 million internally displaced people, a third of the global number of IDPs, and more than double the amount of refugees on the continent. By definition, refugees flee across a national border, while IDPs leave their homes but...
(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...
(Voice of America 03/28/17)
The World Health Organization and U.N. children's fund are spearheading a massive immunization campaign across Africa to rid the continent of the last vestiges of polio. Tens of thousands of health workers will fan out across 13 central and western African countries to vaccinate more than 116 million children under age five against the crippling disease. The U.N. agencies report more than 190,000 volunteers, traveling on foot or bicycle, will go house to house across all cities, towns, and villages...
(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...
(Voice of America 03/17/17)
One of the enduring legacies of the Barack Obama presidency will be the relationship built between the United States and young Africans. As part of Obama’s Young African Leaders Initiative (YALI), each year 1,000 young people from sub-Saharan Africa travel to the United States to spend six weeks at a U.S. college or university. The program will continue this summer. But building enduring relationships is a two-way street, and many in Africa want to see Americans coming to their continent...
(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...
(Bloomberg 03/08/17)
Zambia, the only southern African country to produce a corn surplus last year, may run out of storage space if a ban on exporting the grain isn’t lifted, according to local traders. The country will probably reap 3 million metric tons of its staple corn crop in the current season, according to the Grain Traders Association of Zambia. When that’s added to carry-over stocks remaining from last season, it’s unlikely the nation’s storage facilities will be sufficient, association President Chambuleni...
(The Independent 03/06/17)
Th term was coined by sceptical officials, worried about the importance given to Commonwealth trade deals ahead of Brexit negotiations. Plans by government ministers to boost trade links with African Commonwealth countries are being internally branded “empire 2.0” by sceptical officials who are worried about the importance being placed on such deals ahead of the UK’s negotiations of leaving the European Union (EU). International Trade Secretary Liam Fox is expected to promise to build better links with the whole of...
(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...
(BBC News Africa 02/27/17)
Hosts Zambia got off to a flying start in the Under-20 Africa Cup of Nations when they beat Guinea 1-0 in front of a packed home crowd at the Heroes Stadium in Lusaka. Austria based Patson Daka put on a match-winning performance as he picked up a split pass before slotting the ball in the net in the 48th minute. Daka, who stars for FC Liefering, had been tormenting the Guinea backline for the better part of the first half...

Pages