Southern Africa economic news

(Quartz) Africa’s biggest media company will fight Netflix for control of the global streaming market

(Reuters/Mike Blake) Written by Omar Mohammed When Naspers, the South African media conglomerate, launched its video-on-demand (VOD) service Showmax earlier this year, the assumption was this was an attempt at keeping out Netflix. The US-based streaming platform aims to expand its service globally in 2016, including in Africa’s second-largest economy. But it seems like this …

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African textile sector welcomes US trade agreement extension

Follow us on Twitter: @GoAfricaNetwork The US government has granted a long-term extension to a major US-Africa trade programme on 29 June, a move welcomed by African textile and apparel manufacturers. President Obama signed into law a bill reauthorising the African Growth and Opportunity Act (Agoa) for another 10 years. Since 2001, the non-reciprocal trade …

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After 26 countries signed $1 trillion free-trade plan, AU heads of state now want to double the deal

Follow us On Twitter: @GoAfricaNetwork AFRICAN NATIONS are taking steps toward creating a free-trade zone with a combined size of $2 trillion, as heads of state meet in Johannesburg this week. This comes after a potentially historic deal was signed in Egypt this week that created a common market that would span half the continent from Cairo …

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Tazania’s natural gas reserves now stand at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast.

Follow us on Twitter: @GoAfricaNetwork Tazania’s current natural gas reserves now stand at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast. According to the East African nation’s energy minister, George Simbachawene, natural gas resources discovered in the country increased by  18 percent to 55.08 tcf in April 2015, …

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General Electric to Invest 10 Billion in Africa, Tragets Nigeria Rail Sector

Follow us on Twitter: @GoAfricaNetwork General Electric (GE), a 123-year old American Conglomerate with operations in 130 countries around the world, is gearing up to further exploit the economic potentials inherent in sub-Saharan African markets, especially Nigeria and Ethiopia. At the ongoing World Economic Forum (WEF) on Africa, GE said it would increase its capital …

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Africa’s Top 20 most connected countries by user numbers

Follow us on Twitter: @GoAfricaNetwork According to worldometers.info, the population within South Africa sits at just over 53 million individuals. To add to the figures, Nigeria currently has over 183 million individuals populating its city’s. Africa has always been viewed as a continent that isn’t very connected in terms of internet speeds and the number …

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Alternatives to project finance in Africa

Follow us on Twitter: @GoAfricaNetwork The challenges of this financing are magnified in sub-Saharan Africa, as there is a paucity of projects that meet the high-water mark required by most investment banks. Basic requirements include experienced and credit-worthy sponsors, healthy financial ratios and forecasts, exhaustive technical due diligence, and a stable and cohesive political and …

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Cargo drones in Africa: Going the last mile?

Follow us on Twitter: @GoAfricaNetwork Drones are a controversial topic when it comes to national security. However cargo drones, with their potential applications for last mile delivery in remote areas and humanitarian emergency situations, are tipped to be an exciting area of innovation for Africa. But who is behind the push for cargo drones in …

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Transaction banking is dead: Econet Wireless founder Says

Follow us on Twitter: @GoAfricaNetwork As the evolution of mobile banking continues to disrupt the financial services sector, the founder and executive chairman of privately held telecoms conglomerate Econet Wireless Group sounded the death knell for traditional transaction banking. “The transactional side of banking is gone,” Strive Masiyiwa tells This Is Africa on the side …

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Ghana sees 400K increase in mobile phone subscriptions

Follow us on Twitter: @GoAfricaNetwork Ghana’s mobile phone sector is booming. The country’s regulator NCA reported that the country’s mobile phone operators signed up some 400,000 subscribers during February, a sign that the sector is prime for a new round of promotions. The regulator said that the total number of customers has now reached 31.03 …

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