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African Fintech Startups Received Most Investment Funding Of All Sectors In 2016
Class at Saloni Kantaria Mathur's Reform Cycling and Strength Studio in Nairobi. Photo: Diana Ngila/Business DailyAFKI Original
How A Top-Ranked Female Tennis Champ Became An Exercise Entrepreneur In Kenya
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Obama gets a rock star's welcome on his first visit to Kenya. Photo: AFP/Getty/dailymail.co.uk
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Latest News
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Business
Home Prices Up Almost 12 Percent In Cape Town, Above Average In Durban, PE
By Staff, 5:31 pm
In KwaZulu-Natal the strongest activity is along the North Coast from Durban to Ballito — popular among investors. Residential development in upscale areas such as uMhlanga and Sibaya is enormous, prompting converns of oversupply, but home prices are expected to increase. Durban’s North and South Beach areas, including The Point, have increased as popular residential areas, thanks in part to the general upgrade to the Promenade.
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Business
How An Economic Union Has Changed African Governance, And What This Means For Zimbabwe
By Dana Sanchez, 11:09 am
ECOWAS is credited with persuading Gambian dictator Yahya Jammeh to give up power. If there’s a lesson to be learned, it’s that it takes some external persuasion to remove a dictator. “Forget Trump,” a commentator said. “We in Africa were watching the Gambia and the drama there as African leadership for once, stood up to a tyrant and insisted he respect the outcome of an election.” This regional intervention represents a paradigm shift in African governance, an exiled Zimbabwean judge said. It’s no longer dictatorship as usual in Africa.
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Tourism
Exploring Cape Town’s Single Greatest Feature, Table Mountain
By Dana Sanchez, 1:00 am
Locals tell the weather by the clouds swirling around Cape Town’s Table Mountain. Don’t be surprised if driving directions involve phrases like “drive away from the mountain.” You can’t overstate Cape Town’s beauty. The city is built around its single greatest feature — Table Mountain. Its trailheads are usually just a short drive from most city hotels, which can be a problem. Because it’s so accessible, tourists often underestimate Hoerikwaggo, San for the Mountain of the Sea.
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Business
French-African Fund Targets Startups, Claims To Be First ‘Cross-Border’ Fund
By Staff, 1:00 am
An investment fund that describes itself as “the first cross-border fund between Africa and France” wants to help French companies expand in Africa and African companies expand into France and other E.U. markets. Investments will be in the form of equity participation, generally through minority stakes. The fund’s capital will targeted towards African startups displaying a high growth potential. Investors include Orange, Bpifrance, Société Générale and Proparco.
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Business
Power Africa Partner, Nobel Prize Nominee Breaks Ground On Solar Power Plant In Burundi
By Dana Sanchez, 4:55 pm
In Burundi, where just 5% of people have electricity, a new 7.5-megawatt solar power plant is under construction. It’s expected to add 15% power generation capacity to the East African country. The groundbreaking was held Thursday in Mubuga. The solar plant will be built on 42 acres, 65 miles from the capital of Bujumbura. Mubuga has never had electricity and is 6.8 miles away from the power grid. Its residents have depended on candles, lanterns, firewood and charcoal since time immemorial.
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Business
Is Sibanye Gold Heading For The Door Or Just Reducing Exposure In South Africa?
By Staff, 2:46 pm
Exclusively a South African gold producer until September 2015, JSE-listed Sibanye Gold is set to become the world’s fourth-biggest platinum and third-largest palladium producer. Sibanye hopes to acquire Montana-based Stillwater Mining for $2.2 billion. If completed, the acquisition will further dilute Sibanye’s portfolio. Sibanye began its expansion in 2016 with the purchase of platinum mines in Southern Africa. The Stillwater deal is in a whole other league. It’s much more valuable and involves mines far from Sibanye’s home country.
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Tourism
VIDEO: Hiking The Fanie Botha Trail, Part Of A South African Trail Network That Never Happened
By Joe Kennedy, 2:02 pm
The 28-mile Fanie Botha hiking trail is considered one of South Africa’s best. One of the country’s first officially designated hiking trails, it was originally imagined as the start of an Appalachian Trail-inspired hike stretching from the Soutpansberg in the north to the Eastern Cape escarpment. The big dream wasn’t realized but you can hike the Fanie Botha, named for the man who pushed for a national hiking trail system. Hikers often start in the town of Sabie. Four huts can be booked to spend the nights along the way.
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Business
Nigeria Losing Out As Real Estate Capital Flows Shift From Sub-Saharan Africa To Europe
By Staff, 12:17 pm
Nigeria should be witnessing major investment into its commercial property industry, given its large economy relative to the rest of the continent, its population, which is more than 184 million people and its general development potential. Yet its reliance on oil and its volatile currency had hindered investment. South African investment groups invested in Eastern Europe at the expense of opportunities closer to home, to the tune of around $1.5 billion in 2016. This was more than the total investment volumes recorded in Kenya, Nigeria and Ghana for the past five years or so.