FDI inflows have risen due to advances in regional integration, the digital economy, infrastructure development and agribusiness
Africa appears to have made its way back onto a growth trajectory with foreign direct investment (FDI) inflows to the continent expected to increase by 15% in 2019, after a rise of 11% to $46bn in 2018.
As encouraging as the signs are, inflows are still below the annual average of the past 10 years of about $50m, but confidence is returning and that level could be regained by year end.
This is partly thanks to advances in regional integration… read more
The invisibility of poor people in the country, who are estimated to make up 55,5% of the population, was on display recently as David Makhura, Premier of Gauteng Province, the country’s economic heartland, and the Minister of Finance, Tito Mboweni, aired their differences on Twitter.
The topic was the electronic tolling (known locally as e-tolls) of freeways in Gauteng. The Gauteng African National Congress (ANC), which Makhura leads, has responded to a backlash against the tolls by urging that they be removed.
The national government in which Mboweni serves, and is also led… read more
The results are out and it’s official: Cape Town was voted best African and Middle Eastern City, beating rivals Cairo and Tel Aviv.
Prestigious travel magazine Travel + Leisure (T+L) asked their readers what they look for when choosing the best cities in Africa and the Middle East. The results are in and Cape Town beat all the other shiny cities to the top.
Most travellers want a “strong sense of historical and cultural identity,” as well as vibrant shopping, food and hotel scenes, and beautiful scenery. And which African city checks all these boxes? Why, Cape Town,… read more
A very popular local golfer from Mamelodi has made history last week when he achieved his first success in the Sunshine Series by winning the KCB Karen Masters in Kenya.
Before the start of the KCB Karen Masters in Nairobi, Kenia last week, Toto Thimba told the media that he was going to win the KCB Karen Masters by 10 shots.
On the last day of the tournament, the very popular Mamelodi golfer shot a brilliant final-round 65 for a total 26-under-par 262 to claim his maiden Sunshine Tour victory, albeit by three shots at Karen Country Club in Kenia.
The Silver Lakes Country… read more
Ericsson says that the creation of this factory is in-line with its plans for a more flexible global supply chain, and builds on the firm’s previously announced strategic initiative is the U.S. market. The company is also fast-tracking the launch of the next-generation smart manufacturing through a modular and flexible production setup in its existing own factories in Estonia, China and Brazil.
The exact location of the U.S. factory will be announced upon concluding discussions with state and local authorities.
The smart factory will be powered by Ericsson… read more
In Namibia a country of meat-lovers, vital expertise is needed to stop livestock spreading diseases
Wreathed in barbecue smoke, Vetjaera Haakuria gestures at the men butchering meat and cooking it over hot coals behind his back. “What have you learned about the risks of eating this?” he asks his young audience, spotless in their white lab coats. “It might contain drug residues, right? And what about diseases?”
It’s nearly noon in Windhoek, Namibia’s capital, and the market is preparing grilled meat – known locally as kapana – for the lunchtime rush. Everyone comes here, from… read more
Two drone enthusiasts have devised a new invention that allows drones to plant large numbers of seeds in minutes.
South African Andries Louw and Australian Andrew Walker built a pneumatic firing module that shoots seeds into soil.
It can spit out two seeds per second at velocities of anywhere between 150 and 300 metres per second. This is faster than the cruising speed of a passenger jet.
The module, called it Podder, can attach to the bottom of popular drone models. Louw and Walker estimate that a team of two, flying 2 drones, can plant up to 40,000 seeds into… read more
In our series of letters from African journalists, technology writer Andile Masuku looks at what the launch of Facebook’s digital money could mean for Africa.
From early next year, Facebook intends to let its two billion-odd users – more than 139 million of whom are in Africa – make digital payments through its apps and popular messaging service WhatsApp using a new crypto-currency called Libra.
It could have profound implications for a continent which receives a huge amount of remittances – and is one of the least-banked regions of the world, something… read more
THE FORBES AFRICA 30 UNDER 30 LIST IS THE most-anticipated list of game-changers on the continent and this year, we bring you 120 of Africa’s brightest achievers under the age of 30 and for the first time, four categories featuring 30 in each: Business, Technology, Creatives and Sport.
From elevator manufacturing, solar energy design, to under-30s conquering the Alps and selling out the Apollo Theatre, this year’s list demonstrates how enterprising and extraordinary the African youth is.
This list celebrates these pioneers who are building brands, creating jobs, and… read more
Nigeria will sign a continental free-trade deal at an extraordinary summit of the African Union this weekend, bringing the duty-free movement of goods in the region a step closer.
The economy of Africa’s most-populous nation vies with South Africa to be the continent’s biggest and signing up clears a hurdle in the implementation of the African Continental Free-Trade Agreement. President Muhammadu Buhari last week received a report urging him to sign the deal from a committee set up to consider whether the country should join.
Nigeria… read more