Tag: African

How Yoco saw a South African fintech opportunity, and built a business

In South Africa, 70% of the adult population use bank cards as their primary form of financial transaction. Yet at the same time, fewer than 20% of small businesses are set up with the hardware and technology to accept cards as a form of payment. This huge gulf is primarily due to the size and scope of the informal sector, but it’s still disconcerting that the vast majority of businesses are unable to accept payment from the most popular digital payment type in the country.

Effectively card payments have somehow developed as a niche product for the upper and middle classes, even though all the statistics indicate they are very much in the financial mainstream. This anomaly was the driving force behind the establishment of Yoco, the fintech venture that is successfully developing mobile driven payment solutions to help small businesses grow. 

Lungisa Matashoba is the co-founder and CIO of

Read More

South African airline asks public to come up with new name; winner will receive year’s worth of free flights

What about “Airline Airlines”? That one’s not taken, is it?

A brand new airline based in South Africa is looking for a name, and they’re willing to reward whomever submits the winning idea with a year’s worth of free travel.

The airline, which is set to launch “later this year,” is a joint venture between Gidon Novik, who previously founded a low-cost carrier called Kulula, and a company called Global Aviation, whose main business involves leasing fully-staffed aircraft to other carriers.

“South Africa’s brand new airline, set to launch domestic flights later this year, has invited you to put your creativity to the test and suggest a name for the new carrier,” reads a message on the airline’s current landing page at BrandNewAirline.co.za.

“Help to find a name that is unique, aspirational, and cool – if selected, you could be the lucky winner of a year’s free travel on the

Read More

Trump’s new US visa proposal targets African students



Donald Trump wearing a suit and tie


© Provided by Quartz


The US Department of Homeland Security (DHS) is attempting to revamp visa rules for international students—but thousands of Africans could be adversely affected.

Under the new proposals, the US is looking to stipulate maximum terms of up to four years for student visas but will allow applications for stay extensions for specific cases, including medical illness or “compelling” academic reasons.

However, in a more targeted move, the DHS is also aiming to limit visa terms to two years for students born in countries designated as sponsors of terrorism (Iran, North Korea, Sudan, and Syria) as well as those from countries with overstay rates of more than 10% for student and exchange visitor visas. It’s a restriction that disproportionately impacts African students as evidenced by the list of affected countries: Africa accounts for 36 of the 59 countries affected by the DHS’ proposals.

If passed, the

Read More

Tough visa rules for African students seeking to study in US

By Nation Africa

President Donald Trump’s government is planning to bar East African students from pursuing degrees in the US by limiting their stay in the country.

The move which is contained in proposals by the United States Department of Homeland Security (DHS) will also see students from a majority of African countries barred from getting student visas longer than two years.

This means that the students will be unable to pursue education in American universities where degrees and other certifications take about four years of study.

“If DHS’s new proposed rule goes through, international students from countries like Nigeria, Kenya, Vietnam, and the Philippines would be effectively banned from getting four-year degrees in the US,” US Immigration lawyer Aaron Reinchlin-Melnick, who is a Policy Analyst at the American Immigration Council, warns.

According to the new DHS proposal, students from countries on the State Sponsor of Terrorism List (Iran, Syria,

Read More

Master Power Commended by Frost & Sullivan for its Bespoke Data Center Power Solutions for the African Market

TipRanks

These 2 Penny Stocks Could Rally All the Way to $11, Says Cantor

Is more volatility on tap for stocks? Following a three-week losing streak, the longest in about a year, all eyes are on the market. The three major U.S. stock indexes have struggled for the last few weeks as the titans of tech, which have fueled the charge forward from COVID-induced lows, came under pressure due to overheated valuations, with market watchers waiting to see how renewed lockdown fears will come into play.So, what’s the bottom line for investors? Even though uncertainty remains as Wall Street gears up for the fourth quarter, the pros are pounding the table on a select few names, noting that these tickers boast strong long-term growth narratives.Bearing this in mind, our focus shifted to two penny stocks backed by investment firm Cantor. Major gains could be in store, as the firm’s analysts

Read More

New International Investment in African Business

DUBLIN, Sept. 21, 2020 /PRNewswire/ — ResearchAndMarkets.com published a new article on the business in Africa industry “New international investment in African business”

Despite its ongoing struggles with poverty and epidemics, there is good news coming out of Africa these days. The US government is investing in e-commerce start-ups in Kenya and Uganda in an effort to boost self-sufficiency in those regions, according to an 11 September article in Quartz magazine.

Meanwhile, China has been accelerating their investment in Africa; the China National Offshore Oil Corporation is collaborating with the French oil firm Total to sink 500 wells and build the worlds longest heated oil pipeline.

Finally, struggling airlines might try to boost their business by taking advantage of the growing markets there; United Airlines announced on 8 September that they are adding service to South Africa, Nigeria and Ghana.

To see the full article and

Read More

African Development Bank, IFAD support government to establish business resource centres

Business News of Saturday, 19 September 2020

Source: GNA

2020-09-19

Minister of Trade and Industry, Mr Alan Kyerematen was the special guestMinister of Trade and Industry, Mr Alan Kyerematen was the special guest

The African Development Bank and International Fund for Agricultural Development (IFAD) are funding the establishment of 67 business resource centres (BRCs) across the country through the Rural Enterprises Programme.

The project, under the Ministry of Trade and Industry, has so far seen the completion of 37 BRCs, financed by the African Development Bank, at an estimated cost of $14.6 million covering building, furnishing and office equipment.

Additional 30 BRCs are under construction across the country, financed by IFAD, which is also funding the operationalisation of the initial 37 centres.

The 37 completed centres have commenced operations since August 2020 as one stop enterprise support centres at the district level, providing a broad range of business development services to potential and existing entrepreneurs and enterprises.

They also operate as

Read More

A call for business ideas that protect African wildlife, ecosystems

CAPE TOWN — An innovation challenge launched this month hopes to inspire new ideas for businesses that will provide people in Africa with sustainable incomes while protecting ecosystems.

The African Leadership University’s Kigali-based School of Wildlife Conservation (SOWC) approaches conservation with the aim of enabling African communities to “take ownership of wildlife and the environment” as an incentive to protect ecosystems. The Beyond Tourism in Africa innovation challenge, seeking to uncover non-tourism business ideas for the “wildlife economy,” emerges from the school’s view of nature as “a great pillar of economic growth for Africa.”

The challenge is a joint venture between SOWC, WWF Africa, and the Switzerland-based Luc Hoffmann Institute. Applications opened on Sept. 1. Up to 15 finalists will be selected in November; they will spend several months in ALU’s incubator program next year, developing their ideas before pitching them to investors in September 2021.

Tourism is the most

Read More

African Central Banks May Say They’ve Done What They Can for Now

(Bloomberg) — African central banks meeting in the next two weeks may decide that they’ve done all they can for now to shore up their economies against the havoc wrought by the coronavirus pandemic.

Most in the region will probably hold rates as inflation remains above target, while policymakers in Morocco will consider the risk of deflation. A recession in South Africa and muted price growth in Kenya make those nations outliers still considering rate cuts, although their room for maneuver is also narrowing.

While a pickup in activity “could embolden most MPC’s to stand pat,” an easing bias will persist in countries where policymakers aren’t convinced their economies are sufficiently recovering, said Jibran Qureishi, the Nairobi-based head of Africa research at Standard Bank Group Ltd. “We don’t see much scope for meaningful rate cuts from these levels.”



a close up of text on a black background: On Hold


© Bloomberg
On Hold

Here’s what central bankers on the continent may

Read More