Africa's troubled economies

Africa Weekly News roundup – Week 42

ARTS & CULTURE

Showcasing the best of African style, beauty, design and culture

Join the inaugural FestivalAFRICANA this weekend (17-18 October). The virtual event will showcase the best of Ghana including the fashion film There is No Place Like Home; a live performance by Ghanaian performing artist, Worlasi; and, conversations on the fashion, beauty and lifestyle. Registration is free.

Islam in the Eastern African Novel

Emad Mirmotahari has published a book about Islam in East Africa after studying the religious practice in Kenya, Somalia and Tanzania.

Nominees for the African Entertainment Awards United States of America (AEAUSA)

Three Zimbabwean artists were nominated for the African Entertainment Awards United States of America (AEAUSA) to be held on 12 December 2020 in New Jersey.

ECONOMY

Zambia skips a bond interest payment raising fears of a default

Zambia failed to make an interest payment raising fears that Africa’s second largest copper producer will become the first African country to default. Bondholders are expected to vote on a request to halt interest payments until April 2021.

South Africa plans to spend $60bn to boost the economy

President Cyril Ramaphosa announced plans to revive the South African economy by embarking on an infrastructure programme that will create 800,000 jobs. The programme will include building schools, water and sanitation, housing, ports, roads and railways.

Angolan president plans to revive the economy

President Joao Lourenco used his State of the Nation address to outline economic stimulus measures which include the diversification of the economy and an increase in domestic production.

ENTREPRENEURSHIP

EmpowerHer campaign to help 50,000 women entrepreneurs in Africa

The MicroLoan Foundation launched the EmpowerHer campaign, which aims to help 50,000 women start and maintain their businesses in Sub-Saharan Africa.

Township entrepreneurs receive support in South Africa

The Gordon Institute of Business Science Entrepreneurship Development Academy through the GrowYourBiz programme will provide free support to growing small businesses, owned by youth (anyone between the ages of 18 and 35) and women (of all ages).

Funding opportunities for disruptive start-ups and innovative SMEs

Digital Africa has secured €130 million (approximately R2.5 billion) in funding from the French government, to support African start-ups.

INNOVATION

Wireless technology could transform the electricity in Africa

The New Zealand based Company Emrod Energy has developed technology that enables the wireless transmission of electricity. The company will present its solution on Wednesday October 21st, 2020, during the Africa Energy Forum (AEF).

Discussion on ocean-impact solutions in Africa is scheduled for 24-25 November

The event will assemble key African and international stakeholders of the ocean economy to discuss African ocean-impact innovations.

Losamills Consult Brings Innovation to Landmapping and Surveying in West Africa

About 90% of rural land in Africa is not formally documented, making it vulnerable to land grabbing and expropriation. Modern instruments such as drones and GPS devices are simplifying the land-mapping process while improving accuracy, scope, and speed.

LEADERSHIP

China is building bridges to Africa’s future leaders as US is closing doors to them

More than 20% of current African leaders studied in US, including leaders of Ethiopia, Ghana & Kenya. These countries are some of the closest economic and security partners of US. In recent years, the U.S. has fallen behind China as the top destination for African students.

What developing countries can teach rich countries about how to respond to a pandemic

When it comes to managing infectious diseases, African countries show that experience is the best teacher. For African nations, COVID-19 is another outbreak alongside Ebola, cholera and many others.

LIFESTYLE

Cultural tourism is growing in Africa

Cultural Tourism refers to “visits by travellers from outside the host community, who are motivated entirely or partially by (their) interest in the historical developments or the heritage essence pertaining to the ethnicity, artistic, scientific, habitat lifestyles, traditions and believes of the host community, or the region”.

 Kenyans love their takeout

 Nairobi is the leading city across Africa for online food delivery, followed by Casablanca (Morocco), Lagos (Nigeria), Kampala (Uganda) and Abidjan (Ivory Coast).

 

 

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