Morocco’s Minister of Youth and Sport Rachid Talbi Alami has said that the north African country is no longer keen on hosting the 2019 Africa Cup of Nations – with South Africa as the interested party. South African Football Association president Danny Jordaan had confirmed their interest to take over from their West African counterparts. Read: Could CAF cover Afcon Costs? The deadline is tomorrow to submit a formal proposal to CAF to host the Afcon, but with Morocco no longer one of the frontrunners, it was initially thought that South Africa could be announced as host of the event. Jordaan was not immediately available for comment as he was in Qatar this week and is travelling back today.
December 13, 2018 12:33 UTC
Investment firm Sawari Ventures has announced the US$35 million first closing of a fund for investing in technology and knowledge driven companies in Egypt, Tunisia and Morocco. The raise, which is part of the US$70 million Sawari Ventures North Africa Fund I (SVNFI), was announced on the sidelines of the Africa 2018 Business Forum in Sharm El Sheikh, Egypt. Investors include the European Investment Bank (EIB), the UK’s CDC, Proparco, and the Dutch Good Growth Fund (DGGF) managed by Triple Jump. The fund will invest an average ticket size of US$1.5 million and will be looking to back 25 growth stage North African companies leading the knowledge economy in sectors such as ICT, fintech, ed-tech, e-health, and renewable energy. Sawari Ventures will also soon announce the closing of an Egypt only fund in parallel to SVNFI.
December 13, 2018 09:22 UTC
The two Chambers of the Colombian Parliament have adopted a resolution expressing full support to Morocco’s territorial integrity and sovereignty over the Sahara. The Colombian MPs also denounced the serious violations of human rights committed by the Polisario separatists against the Sahrawis sequestered in the Tindouf camps, situated in South Algeria, which arms, funds and shelters the secessionists. “We reiterate our full support to the sustained efforts made by Morocco for a just, lasting and mutually acceptable political solution to the regional dispute over the Sahara”, says the resolution. “Only a political solution to the question of the Sahara, preserving Morocco’s sovereignty and territorial integrity, can bring in peace and stability to the region”, underline the Colombian MPs in their resolution. The two Chambers of the Colombian Parliament also hailed the excellent relations existing between Colombia and Morocco, calling for the consolidation of bilateral cooperation in the political, economic, cultural, and social fields.
December 13, 2018 08:14 UTC
Liquid receives $180 million for network expansionby SAVIOUS KWINIKAJOHANNESBURG, (CAJ News) – LIQUID Telecom is to expand its high-speed broadband connectivity to some underserved African communities following an investment of $180 million by CDC Group, the United Kingdom development finance institution. The investment will enable Liquid Telecom expand its network to support Africa’s tech start-up ecosystem with high-speed internet and cloud-based services. This builds on the Liquid Telecom’s Cape to Cairo terrestrial fibre link, serving some of the most remote locations with the fastest network speeds in Africa. Nic Rudnick, Group Chief Executive Officer of Liquid Telecom, said the investment would enable the company to accelerate expansion along the Cape-to-Cairo route and further into Central and Western Africa. “CDC’s capital will enable Liquid Telecom to reach more countries in the continent, helping to connect millions more people and businesses,” O’Donohoe said.
December 13, 2018 06:22 UTC
Rape, survival sex increasing in unruly DRCfrom JEAN KASSONGO in Kinshasa, DRCKINSHASA, (CAJ News) – AT least 65 civilians have been raped during escalating clashes in the eastern Democratic Republic of Congo (DRC) over the past month. An increase in the use of survival sex by young girls in affected regions has also been noted. The United Nations High Commissioner for Refugees (UNHCR) disclosed the violations were documented in the first half of November alone. Armed groups have rendered DRC ungovernable ahead of long-delayed general elections set for December 23. An increasing number of Central African refugees are voicing theirintention of returning to their country of origin as the insecurity in DRC escalates.
December 13, 2018 06:11 UTC
Canada’s foreign ministry says it is trying to make contact with a second Canadian who is believed to have been detained in China. Michael Spavor, a businessman based in Dandong near the North Korean border, had contacted Canadian officials this week to say he was being questioned. Foreign ministry spokesman Guillaume Bérubé said Canada was working hard to determine Mr Spavor’s whereabouts. It comes after former diplomat Michael Kovrig was arrested in China this week.
December 13, 2018 03:45 UTC
Economy Kenya to be named ‘anchor’ of Trump’s Africa policyUS President Donald Trump. FILE PHOTO | NMGKenya is set to be named an “anchor” country when the Trump administration unveils its Africa policy on Thursday. Mr Bolton, a former US ambassador to the United Nations, will present the long-awaited Africa blueprint in a speech at the Heritage Foundation, a Washington think tank generally supportive of Mr Trump’s policies. “I expect that part of operationalising enhanced relationships with countries will include trying to facilitate in various ways US companies’ greater involvement in Africa,” Mr Meservey said. But Mr Meservey cautioned that “the US is unlikely to ignore terrorism and other security concerns as part of its Africa strategy.
December 12, 2018 18:22 UTC
Mauritanian capital Nouakchott is hosting this week a business forum aimed at boosting Mauritanian-Moroccan partnership in the energy field. The forum, held under the auspices of the Pan-African Confederation of Electricity (CAFELEC), is co-organized by the Moroccan Federation of Electricity, Electronics and Renewable Energies (FENELEC Morocco) and the Mauritanian Electricity Company (SOMELEC). The forum featured a seminar as well as B to B meetings between the 21 Moroccan companies present in Nouakchott and their Mauritanian peers. Morocco has been helping Mauritania, which is diversifying its resources by investing in renewable energy, to harness the full potential of its extensive renewable energy resources. Although there is a wide-range of renewable energy technologies that are currently being deployed in Mauritania, the country currently lacks the know-how and human capital needed to support the continued growth of this new economic sector.
December 12, 2018 16:30 UTC
The Tunisian parliament approved earlier this week the 2019 budget, which does not provide for any new taxes on individuals in a move to buy social peace. The protests broke out after activists and politicians denounced increases in VAT and the introduction of social contributions. The 2019 budget, adopted on Monday, by 113 votes out of 217, projects a fall in the deficit to 3.9 percent of gross domestic product. Prime Minister Youssef Chahed said earlier this year that 2018 would be the last difficult year for Tunisians. In 2018, the government raised taxes on cars, alcohol, telephone calls, the internet, hotel accommodation and other items in an effort to help balance the books.
December 12, 2018 15:33 UTC
The Algerian government has resorted again to the printing press to inject in the market over 4,000 billion dinars, the equivalent of 20% of the country’s GDP, to deal with the 2018 budget deficit. The situation is likely to get worse in 2019, as the outlook for oil prices is rather pessimistic. Given the magnitude of this deficit, the printing press has now become the only resort. Between November 2017 and September 2018, about $34 billion worth of bank notes were printed to deal with the budget deficit and the repayment of domestic debt. Algerian experts warned that foreign reserves would fall sharply even in case oil prices climb again due to imports bills.
December 12, 2018 15:22 UTC
The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, provides a snapshot of the region’s economic performance. According to the report; East Africa continues to report the highest GDP growth on the continent even though the region’s economic growth is expected to ease slightly, from 6.8% in 2017 to 6.3%. The elections narrative is still replicated in Southern Africa, being the slowest region with GDP forecast set to expand only by 1.2%. The Franc Zone is expected to see GDP growth of around 4.6% this year. Cameroon is expected to post a GDP growth rate of 4.0% this year – up from 3.2% in 2017.
December 12, 2018 14:37 UTC
IR sensor manufacturer, JonDeTech, has appointed Anders Stensson as the company’s new CFO. The Swedish IR sensor company JonDeTech is to enter a high volume phase and has therefore appointed Anders Stensson as the new CFO. ”JonDeTech is an exciting company operating with an amazing nanotechnology and strong patents, combined with a good team,” said Anders Stensson. ”Now as the company is entering an exciting stage as it is heading into a high volume phase. JonDeTech sensors are very small and thin (thickness 0.2 mm) compared with traditional sensors, which allows them to be integrated into many different types of products.
December 12, 2018 14:25 UTC
The United States has announced the designation of the Boko Haram terrorist group as an entity “of particular concern”. The U.S. Secretary of State Michael Pompeo in a statement, designated Boko Haram alongside the Islamic State of Iraq and Syria (ISIS), al-Qa’ida and al-Shabab. In his words, safeguarding religious freedom is vital to ensuring peace, stability, and prosperity. He added that The United States remains committed to working with governments, civil society organisations, and religious leaders to advance religious freedom around the world,”According to the UN Office for the Coordination of Humanitarian Affairs “The humanitarian crisis in North East Nigeria that has spilled into neighbouring Cameroon, Chad and Niger, is one of the most severe in the world today.
December 12, 2018 13:33 UTC
Airline industry’s profit graph to move slightly ahead in 2019; African carriers to report lossDec 12, 2018: The global airline industry net profit is predicted to be $35 billion in 2019, slightly ahead of $32.3 billion expected net profit in 2018, which was revised down from $33.8 billion forecast in June, as per the International Air Transport Association (IATA). European carriers are expected to report a $7.4 billion net profit in 2019, down slightly from $7.5 billion in 2018. The expected net profit per passenger of $6.40 (3.4 percent net margin) is roughly a third the net profit per passenger expected to be generated by North American carriers. Asia-Pacific carriers are expected to report a $10.4 billion net profit in 2019, up from $9.6 billion in 2018. African carriers are expected to report a $300 million net loss in 2019, slightly improved from the $400 million net loss in 2018.
December 12, 2018 13:30 UTC
Photo by Jai Lennard. We catch up with the Nigerian-American author and founder of the book club-turned-community, Well-Read Black Girl, about her debut anthology, this year's Well-Read Black Girl Festival and more.
December 12, 2018 10:19 UTC