SA takes Africa investment lead

first_img7 May 2013 South Africa, rated the most attractive country in Africa for investors, itself invested in more projects in the rest of the continent than any other country in 2012, acccording to Ernst & Young’s third Africa Attractiveness Survey. The report, released on Monday, combines an analysis of international investment into Africa over the past five years with a 2013 survey of over 500 global business leaders about their views on the potential of the African market. A large majority of respondents viewed South Africa as the most attractive African country in which to do business, with 41% of all respondents putting South Africa in first place and 61% including the country in their top three. “The primary reasons for South Africa’s popularity appear to be its relatively well developed infrastructure, a stable political environment and a relatively large domestic market,” Ernst & Young said in a statement. Hot on South Africa’s heels were Morocco (20% of respondents placing it in the top three, 8% putting it first), Nigeria (20% top three, 6% first place), Egypt (15% top three, 5% first place) and Kenya (15% top three, 4% first place).SA ‘at forefront of Africa growth’ According to the report, Africa’s global share of foreign direct investment (FDI) grew from 3.2% in 2007 to 5.6% in 2012, driven in particular by growth in investments coming in from emerging markets: while investment from developed markets only grew at 8% over the five-year period, the rate of FDI projects from emerging markets into Africa grew at a compound rate of over 21%. Between 2007 and 2012, the top emerging market investors in Africa were India (237 FDI projects), South Africa (235), the United Arab Emirates (210), China (152), Kenya (113), Nigeria (78), Saudi Arabia (56) and South Korea (57), all of whom were among the top 20 investors over that period. The report singled out South Africa – the single largest investor in Africa by number of FDI projects in 2012 – as being at the forefront of growth in intra-African trade and broader emerging market investment. Business Day newspaper pointed out that China and the European Union remained the biggest investors in the continent in value terms, but that South Africa, through the expansion of its multinational corporations across the continent, was playing a strategic role, particularly in the diversification of investment sectors. The Ernst & Young report found that the continent’s trend towards growing diversification was continuing, with an increasing emphasis on services, manufacturing and infrastructure-related activities – a positive sign given the volatile nature of commodity prices and the growth risks associated with over-dependency on a few key sectors. Ernst & Young’s Africa business centre director, Michael Lalor, told Business Day that “the longer-term story is the contribution that South Africa is making to the development of services sectors across the continent, which is helping to reduce dependence on natural resources”.Sub-Saharan Africa on the rise Ajen Sita, Ernst & Young’s Africa managing partner, said there was “a growing confidence and optimism among Africans themselves about the continent’s progress and future”. Kenya and Nigeria had also invested heavily in the continent in recent years, and others, such as Angola, were expected to become increasingly prominent investors across the continent over the next few years. The survey also revealed a shift in emphasis in terms of African FDI destinations, with investment into North Africa largely stagnating since 2007 while FDI projects into sub-Saharan Africa grew at a compound rate of 22%. Among the star performers attracting growing numbers of projects were Ghana, Nigeria, South Africa, Kenya, Tanzania, Zambia, Mozambique and Mauritius. The report noted that, despite the impact of the ongoing global economic situation, the size of the African economy had more than tripled since 2000. It added that the continent’s growth outlook appeared positive, with African gross domestic product (GDP) as a whole expected to grow by 4% in 2013 and 4.6% in 2014, and a number of African economies predicted to remain among the fastest growing in the world for the foreseeable future. Mark Otty, Ernst & Young’s managing partner for Europe, the Middle East, India and Africa, said the platform for this growth had been provided by “a process of democratization that has taken root across much of the continent, ongoing improvements to the business environment, exponential growth in trade and investment, and substantial improvements in the quality of human life”. Sita said Ernst & Young was confident that the continent was on a sustainable upward trajectory. “A critical mass of African economies will continue on this journey,” Sita said, adding that there was “a strong probability that a number of these economies will follow the same development paths that some of the Asian and other rapid-growth markets have over the past 30 years. “By the 2040s, we have no doubt that the likes of Nigeria, Ghana, Angola, Egypt, Kenya, Ethiopia and South Africa will be considered among the growth powerhouses of the global economy.” SAinfo reporterlast_img read more

M-Pesa at 10: How Africa become the leader in mobile money

first_imgM-Pesa, the world’s largest mobile money network, has enabled millions of Africans to gain access to safe and secure banking solutions. The idea has become a pioneering innovation for the continent, and is now used as a model for similar systems around the world.Mobile money markets are hugely popular in Africa, offering easy, secure methods of payment and transfer of funds using simple text-based mobile technology. M-Pesa, a leader in the industry, celebrates 10 years of dominance in countries such as Kenya and Uganda. (Image: Flickr)CD AndersonLaunched by telecommunications group Vodafone/Safaricom in 2007, M-Pesa (“pesa” is Swahili for “money”) has become a way of life for 30 million Africans in 10 countries. More than 80% of Kenyans use the service. The network also enjoys market dominance in Tanzania and Uganda.The ingeniously simple method of money transfers made via cellphone messaging (SMS) has connected many to formal banking systems and enabled opportunities for small business and informal commerce, as well as played a part in helping to eradicate poverty, particularly in rural areas.The system uses simple, text-based technology available on older cellular phones. While more sophisticated mobile banking is the norm around the world, the simplicity of M-Pesa is that customers do not need bank accounts to use the network.The adoption and rise in popularity of mobile money networks in Africa has been steady. M-Pesa and its various competitor networks now not only include money transfers and other standard banking procedures, but also healthcare provision, access to international money markets and long-term lending.Tracking the growth of the mobile money market in Africa over the last 10 years. (Infographic: CNN)In 2016, according to Vodafone, M-Pesa was used in six billion transactions. Additionally, research by Digital Frontiers found a 22% drop in female-headed households living in poverty in areas with access to M-Pesa. The same study noted that the source of income for almost 200,000 women in rural areas shifted from the low-income, labour intensive agricultural sector to more prosperous small business creation. The research also showed an increase in saving and investing money through using the M-Pesa network.M-Pesa transactions are expected to surpass $1.3-billion (R17-billion) in the next three years, according to research by consulting firm Frost & Sullivan.Tracking the growth of the mobile money market in Africa over the last 10 years. (Infographic: CNN)The future of mobile money markets presents both growth opportunities and challenges. Safaricom CEO Bob Collymore told CNN that the network wanted to focus on developing a better user experience, with an eye on increasing the use of smart device technology in Africa compared to standard text-based mobile technology.As with any innovative product, a focus on developing more ground-breaking mobile financial services is also a key objective. “One of the big problems has been the relative clumsiness of using M-Pesa,” Collymore said, adding that new, simpler solutions would work hand-in-hand with better technology, such as the “tap and pay” method and EMV smart chip cards.Another focus is breaking into new markets, the rest of Africa primarily, but also increasing its presence in Asia, Eastern Europe (M-Pesa is used in Romania and Albania, which has a large informal economy, often operating without bank accounts) and the Middle East.M-Pesa was introduced in South Africa in 2010, gaining more than a million users. It aimed to conquer a market of 13 million economically active people who did not use bank accounts. However, because of stricter banking regulations in South Africa, as well as the development of more tech-savvy banking products, the system found little foothold in the country.Tracking the growth of the mobile money market in Africa over the last 10 years. (Infographic: CNN)While more and more competing mobile and smart phone banking systems are aiming to provide services for larger transactions, M-Pesa aims to keep the focus on what made it the dominant, most longstanding player in the market, namely safe, convenient micro-banking (M-Pesa does not transact anything larger than $675 (R8,000).“The banking sector across the world has always ignored the so-called base of the pyramid. We haven’t because we understand that the base of the pyramid needs to be served and there’s also commercial viability in doing that.”Source: CNN, AFKInsiderWould you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

February workshop addresses 4Rs on the farm

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The Nutrient Stewardship Council will host a complimentary “4R Farming 4 Sustainability” educational workshop Feb. 12 in Fort Wayne, Indiana, providing farmers and agricultural retailers updates, perspectives and information on the 4Rs and the 4R Nutrient Stewardship Certification.The voluntary certification program is a concentrated effort by the agriculture industry to significantly reduce and prevent applied nutrients from running off fields, which has contributed to harmful algal blooms in Lake Erie, such as the one responsible for the shutdown of Toledo’s water supply in early August of 2014.“This event will help farmers and nutrient service providers learn more about the voluntary certification program and how important the 4Rs can be in nutrient management,” said Andrew Allman, executive director of the Nutrient Stewardship Council. “Attendees will hear from both their peers and industry professionals to learn how they can contribute to the goal of long-term improvements in the Western Lake Erie Basin.”The workshop agenda includes:An overview of the certification program and its relevancy/legislative connection, provided by Nutrient Stewardship Council representatives and certification program administrators.Perspectives about the program and the 4Rs, shared by panels of growers from Indiana, Michigan and Ohio, and representatives from facilities that have become certified through the program within the first two years of its existence.Updates on related research and certification program requirements from industry professionals and consultants.Rick McLellan, senior vice president — commercial division, of The Mosaic Company will be the featured keynote speaker.Twenty-three nutrient service providers have achieved certified status through the program since its inception in March of 2014. These certified facilities provide nutrient recommendations or nutrient application services to 3,870 grower customers covering 1.57 million acres, with 1.09 million of these acres located in the WLEB. Approximately 20% of total farming acres in the WLEB are now covered by certified providers through the program. The program also has commitments from 47 other facilities to go through the certification process.The 4R Farming 4 Sustainability workshop will be held from 8 a.m. to 2 p.m. at the Holiday Inn Fort Wayne, Indiana – IPFW Coliseum, 4111 Paul Shaffer Drive, Fort Wayne, Indiana 46825. Continental breakfast and lunch is included with complimentary registration. For more information and to register for the event, visit oaba.net/events, email info@oaba.net or call 614-326-7520 ext. 1.last_img read more

MeeGo: A New Linux OS to Fight iPhone, iPad and More

first_imgWhy IoT Apps are Eating Device Interfaces The Rise and Rise of Mobile Payment Technology Tags:#mobile#NYT#web sarah perez Nokia and Intel have just announced the creation of MeeGo, a new Linux-based operating system designed for portable devices including netbooks and smartphones as well as other non-desktop platforms like connected TVs and vehicles. The new OS is a combination of Nokia’s Maemo and Intel’s Moblin, both Linux-based computing environments. This partnership is notable not just for combining two different Linux platforms under one roof, but for its cross-platform support of both Intel and ARM chips, the latter currently popular in mobile devices like Apple’s iPhone thanks to its low power consumption needs.The MeeGo operating system is designed to let developers write once and then deploy to a number of hardware platforms including everything from smartphones to netbooks and more, a popular strategy these days in an increasingly fragmented mobile world. The same strategy has also been recently embraced by Adobe, who now lets their developers write once and then deploy their Flash apps to any operating system, both desktop and laptop-based or mobile.Applications that previously worked on Maemo or Moblin will work on the new MeeGo OS, too, say the companies. Also, the new platform is not intended to replace Nokia’s own Symbian OS, Nokia assures. Instead, using the Qt application and UI framework, developers can deploy apps to both MeeGo and other platforms, including Symbian. The resulting applications will then be marketed through Nokia’s Ovi Store, for all MeeGo and Symbian-based Nokia devices while Intel’s AppUp Center will handle the marketing of apps for Intel-based MeeGo devices. Open Source vs. iPhone OS…and MoreBoth companies are positioning the new OS an open source alternative to the iPhone App Store model. Although they don’t come out and directly call out the popular Apple iPhone OS by name, they hint at it by stating that with MeeGo, people “are not locked into one kind of device or those from any individual manufacturer.” Both companies are also preparing for a new range of tablet devices that will compete against the trail-blazing iPad. In an interview with CNet, Renee J. James, a senior vice president at Intel, affirms that “this kind of operating environment is targeted very well for a tablet-style device.” However, the platform isn’t meant to just compete with Apple products. It will also go up against the upcoming netbook OS from Google, Chrome OS, as well as mobile, tablet, and in-car OS’s from other vendors, including Microsoft. MeeGo will arrive in the second quarter of 2010 with products becoming available starting in the third quarter. center_img Role of Mobile App Analytics In-App Engagement Related Posts What it Takes to Build a Highly Secure FinTech …last_img read more

Bengal MPs, Ministers meet Rajasthan victim’s family

first_img The delegation comprised MPs Sougata Roy, Sudip Bandyopadhyay and Kakuli Ghosh Dastidar, along with State Urban Development Minister Firhad Hakim and Transport Minister Suvendu Adhikari. The TMC delegation also held a rally in Malda condemning the murder.“Our government will stand beside the family in every possible way. Such brutality and violence is unprecedented anywhere in the country. I strongly condemn such acts of terror,” Mr. Hakim said after meeting Mohammad Afrazul’s family members in Kaliachak.Also Read Rajasthan labourer killing not a case of love jihad: Naqvi  The Minister also blamed the Bharatiya Janata Partry (BJP) for the violence, saying the party “promoted intolerance” in the country. State BJP president Dilip Ghosh accused the ruling party of “playing the communal card”.Leaders from other political parties, among them State Congress President Adhir Chowdhury and Congress Rajya Sabha MP Pradeep Bhattacharya, also met the grieving family. A delegation of senior Trinamool Congress (TMC) leaders, including three Lok Sabha MPs and two Ministers in the West Bengal government, visited the house of the labourer from West Bengal’s Malda district who was brutally killed in Rajasthan two days ago.Also Read Rajasthan offers ₹5 lakh aid to slain labourer’s relativeslast_img read more

Sheriffs identify victim and suspect in Vista attempted murder

first_img KUSI Newsroom, Updated: 4:38 PM VISTA (KUSI) — Authorities Tuesday released the name of a 19-year-old North County man who was gravely wounded over Presidents Day weekend in a shooting allegedly carried out by his older brother.Juan Sixto of Vista was admitted to a hospital shortly before 9:30 p.m. Sunday, suffering from a life-threatening gunshot wound. He was not expected to survive the injury, Lt. Rich Williams said.After serving a search warrant at the Pomelo Drive apartment the victim shares with his sibling, 27-year-old Fredy Sixto, detectives arrested the older man on suspicion of attempted murder.The suspect was being held at San Diego Central Jail without bail pending arraignment, scheduled for Wednesday afternoon.Officials disclosed no suspected motive for the shooting.Anyone with information about this incident is asked to call the Sheriff’s Homicide Detail at (858) 974-2321/after hours at (858) 565-5200. You can also remain anonymous by calling Crime Stoppers at (888) 580-8477 and be eligible for up to a $1,000 reward for information leading to an arrest. Posted: February 20, 2018 KUSI Newsroom center_img Sheriff’s identify victim and suspect in Vista attempted murder Categories: Local San Diego News FacebookTwitter February 20, 2018last_img read more

San Diego leaders introduce Connect Hillcrest program for homeless outreach

first_img Categories: Good Morning San Diego, Local San Diego News FacebookTwitter February 11, 2019 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – City Councilman Chris Ward and Supervisor Nathan Fletcher joined a group of community leaders Monday to unveil an outreach initiative for Hillcrest’s homeless residents.The city and county launched Connect Hillcrest with the assistance of local organizations and agencies like the San Diego Housing Commission, the San Diego Police Department, Father Joe’s Villages and the Regional Task Force on the Homeless. The program aims to connect homeless residents in Hillcrest with trained service workers to help them obtain stable housing and social services.“Connect Hillcrest is a model, collaborative initiative that is actively working to address homelessness,” Ward said. “It’s my hope that the knowledge gained from this program will give local government and service providers the data needed to improve upon current homelessness outreach protocols while expanding services to other impacted communities across our region.”The announcement comes four days after Ward announced the launch of a similar program for homeless residents in the North Park and City Heights neighborhoods. Both are part of the city and county’s efforts to improve access to necessary services like housing assistance, job training and medical care for the county’s homeless population. Last year’s point-in-time homeless count estimated the county’s unsheltered homeless population at roughly 5,000.“The county and city are now standing together and working as partners,” Fletcher said. “Through the Connect Hillcrest pilot, we are working collaboratively, and with our community partners, to connect people experiencing homelessness with resources that put them on a path to a healthier, more stable life. I believe this effort has the potential to yield encouraging results and am excited to get it started.” San Diego leaders introduce Connect Hillcrest program for homeless outreach KUSI Newsroom center_img KUSI Newsroom, Updated: 7:26 PM Posted: February 11, 2019last_img read more

Many concerned over arson and hate crime committed on Escondido mosque

first_img KUSI Newsroom, March 26, 2019 Categories: Local San Diego News FacebookTwitter KUSI Newsroom Posted: March 26, 2019 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – A large police presence is expected this week when San Diego Muslims gather for their Sabbath this Friday.Police are still investigating arson and a hate crime committed on an Escondido mosque, just a week after the attack in New Zealand that left 50 dead.This local incident leaving not only Muslims on edge but their neighbors too. Many concerned over arson and hate crime committed on Escondido mosquelast_img read more