File Picture,President Barack Obama addresses the Young African Leaders Initiative in Washington, Wednesday, August 3, 2016. President Obama launched YALI in 2010 to support young African leaders in hope of strengthening democratic governance and encouraging peace and security across Africa. (AP Photo/J. Scott Applewhite)
With transformative and visionary leadership in place, a high population, that is rightly skilled and economically empowered, can be a catalyst, for accelerating, a sustainable economic growth and development, that is all-inclusive and beneficial, for a harnessed, political, economic, and social prosperity of a Nation/Continent. Africa’ population which today stands at 1.2 billion people, and is expected to more than double by 2050, is rising, and so is unemployment, that is forcing, thousands of young people, to trek extremely very dangerous journey, through the Sahara desert, to Libya, and then on insecure boats, in the Mediterranean Sea, with the hope of finding opportunities for a better livelihood in Europe.
According to the international organization for migration, this year alone, 2017, over 8,800 African migrants, have been returned to their home countries. What is leadership in Africa not doing right, that is forcing millions of young people want to leave their continent in search of green pastures elsewhere?
Africa’s young people, who today, totals over 420 million aged between 15 -35 age, and is expected to increase to over 830 million by 2050, is a huge demographic asset, which if given right skills and opportunities, can be turned into an economic dividend driving the continent forward. Skilled young people produces high work rate, and acts as an attraction, for investors seeking to open up new investment prospects. Skilled young people, if also accorded right funding, can be able to produce inventions and innovations, in various sectors that can in the end result into turning Africa’s abundance natural resources, into usable finished products, thus promoting entrepreneurship and industrial development.
Are the African countries giving its young people factual skills and opportunities to produce ground breaking technologies that can attract mutual industrial research and technological collaborations from developed countries especially in agriculture and agricultural related sectors?
Agriculture, which is, and is expected for the next decade, to continue being a major employer, employing about 65 percent and source of livelihood for the majority of Africans, can if well consistently structured and profitably transformed, birth agribusiness enterprises and agro-industrialization in Africa, that can make majority of Africans, to secure well-paying jobs, and this would greatly curb migration of young Africans to Europe and mutually save both African and European economies, from spending millions of dollars, which they spend every year, trying to curtail their movement from Africa to Europe.
African countries, must in collaborations with regional and global institutions, such as African Development Bank and World Bank, design and implement policies and build institutions, that are job creation enhancing, and which provides for, creation of new rural micro- enterprises, larger scale agribusinesses, and agro- industrialization to thrive. This will not only contribute to transformation of rural economies and curbing of extreme poverty, but will also, create millions of jobs in agricultural and agricultural fed industrial sector, thus contributing to economic growth and development that is all- inclusive.
One youth from Uganda that I met recently had this to say, “Immediately after completing by Bachelor’s degree, in food science and technology in 2014, I underwent a basic agricultural training in passion fruits growing and juice making, armed with training and with funding from my parents and friends, I went to village and planted 4 acres of passion fruits. Initially I sold them, to fruits, making factories in raw form and earned good profit, which I later used to buy machines and other equipment’ to set up a medium juice making enterprise, which is now employing, 50 full time workers. I am now earning extremely very good profits from selling the juice to various institutions, and I am now working on securing a loan or a grant, to expand my factory and employ many more other people, as demand for my juice is higher than the supply”.
This in essence means that, access to timely funding from financial institutions, can make millions of unemployed African youth, to establish many small and medium enterprises, that has got the potential to turn into large scale industries, contributing to expanding of their countries’ economic and taxable base, but unfortunately lack of funding is their major constraint. To overcome this, African countries, must urgently put in place financial policy interventions, which unlocks the impasse that makes the youth, not to easily get timely funding to turn their entrepreneurship ideas into reality.
To attain this, activities such as establishment of an innovation and information labs that incubate new ideas and entrepreneurship, and scaling up establishment of well designed industrial parks complete with reliable power, access roads, guaranteed security, and other social amenities, which all stimulate private sector investments must be scaled up. These activities are very crucial in stimulating domestic investments and in attracting foreign direct investors, who are eager to come and massively invest in different sectors, to profit from the already existing large market driven by a high and skyrocketing population.
In sum, with abundance natural resources such as precious minerals, that are on high demand globally, and being home, to 60 percent of world’s arable land, coupled with expanding large market, Africa’s potential as destination of choice for investors is unquestionable. Virtually, all African sectors be it in, mining, oil and gas, agriculture, banking, among others, are very highly profitable for investors to invest in, either purely on private undertaking or through public private partnerships and investors must be genuinely and mutually interested in adding value to African products and create sustainable jobs that improves the welfare of Africa people.
*Moses Hetegeka is a Ugandan based Independent Governance Researcher, Public Affairs Analyst, and Writer
Defined by long delays and cancellations, limited connections, rickety planes, and dilapidated runways, flying across Africa can sometimes be quite inconvenient. The problem is also compounded by the restrictive regulations and protectionism that hinder intra-nation travel, leading African airlines to lose $800 million in 2016, according to the World Bank.
Yet some of those problems are set to become history when the Single African Air Travel Market (SAATM) is launched by the African Union (AU) in late January. As one of the AU’s pan-African Agenda 2063flagship projects, the plan aims to improve air connectivity in Africa and use air transportation as an engine for economic growth, job creation, and integration.
The idea is based on the 1999 Yamoussoukro Decision, when African ministers responsible for civil aviation agreed to deregulate air services, put in place mechanisms for fair competition and dispute settlement, and liberalize frequencies and tariffs. As part of the agreement, countries would also free the exercise of up to fifth freedom rights for passengers and freight air services, allowing a carrier to fly between two countries on a flight originating or ending in its own country.
By setting this up, African nations hope to imitate and build on the single aviation markets in places like Europe and Latin America. The AU also hopes to encourage cross-border investment and innovation, improve business operations and efficiency, increased route competition resulting in lower fares, create more jobs, help airlines grow, and allow for the free mobility of people and goods.
So far, 21 countries that command more than 670 million of the continent’s population have committed to the plan. These include Benin, Nigeria, and Sierra Leone in the West; Kenya, and Rwanda in the East; Zimbabwe and South Africa in the south; and Egypt in the North. The single market is also host to eight of Africa’s top ten busiest airports including Bole International Airport in Ethiopia and O. R. Tambo in Johannesburg, South Africa. Up to 15 carriers, which account for more than 70% of intra-African air travel, have also signed up for the common market including Ethiopian Airlines, Kenya Airways, South African Express, and Egypt Air.
21 countries have-signed to the single african air transport market
The move to liberalize air travel coincides with a push from African governments to open more borders and encourage inter-regional trade and tourism. Last year, Africans traveled more easily across the continent, and countries like Kenya, Namibia, and Ghana announced removing visa restrictions or granting visas on arrival. Local tourism in Kenya, Tunisia, and South Africa have also boosted domestic air travel, leading to the growth of budget carriers.
Yet despite the plan’s best intentions, African air travel still has a long way to go. Carriers like Kenya Airways or Nigeria’s Arik Air have struggled to make profit in recent years, plagued by debt or the results of a poorly timed expansion strategy. And unless more countries open up, government restrictions on visas and establishing air routes will continue hindering a potential five million Africans the chance to travel the continent, according to the International Air Transport Association. Air travel in nations like Somalia also have a long way to go before they can become fully integrated with the rest: after 27 years under the control of the United Nations, the country regained control of its airspace in Dec. 2017.
U.S. President Donald Trump (3rd from L) poses with (L-R) Kenya’s President Uhuru Kenyatta, Guinea’s President Alpha Conde, African Development Bank President Akinwumi Adesina, Vice-President of Nigeria Yemi Osinbajo and Ethiopian Prime Minister Hailemariam Desalegn for a photo after an expanded session at the Summit of the Heads of State and of Government of the G7 plus the European Union in Taormina, Sicily, on May 27. JONATHAN ERNST/AFP/GETTY
Africans woke up on Friday to find President Donald Trump had finally taken an interest in their continent. It wasn’t what people had hoped for.
Using vulgar language, Trump on Thursday questioned why the U.S. would accept more immigrants from Haiti and “shithole countries” in Africa rather than places like Norway in rejecting a bipartisan immigration deal. On Friday he denied using that language.
The African Union continental body told The Associated Press it was “frankly alarmed” by Trump’s comments.
“Given the historical reality of how many Africans arrived in the United States as slaves, this statement flies in the face of all accepted behavior and practice,” AU spokeswoman Ebba Kalondo said. “This is particularly surprising as the United States of America remains a global example of how migration gave birth to a nation built on strong values of diversity and opportunity.”
Some African governments quickly found themselves in an awkward position. As top recipients of U.S. aid, some hesitated to jeopardize it by criticizing Trump, especially as his administration has sought to slash foreign assistance.
“Unless it was specifically said about South Sudan, we have nothing to say,” South Sudan government spokesman Ateny Wek Ateny told The Associated Press.
But Botswana’s government called Trump’s comment “reprehensible and racist,” saying the U.S. ambassador had been summoned to clarify whether the nation is regarded as a “shithole” country after years of cordial relations.
South Africa’s ruling African National Congress called Trump’s comments “extremely offensive,” while opposition leader Mmusi Maimane called them “abhorrent … The hatred of Obama’s roots now extends to an entire continent.” Uganda’s state minister for international relations, Henry Okello Oryem, called the remarks “unfortunate and regrettable” and said he hopes African heads of state will reply at an African Union summit later this month.
African media outlets and the continent’s young, increasingly connected population were not shy, with some tweeting sleek photos of African landscapes and urban areas with the hashtag #shithole.
“Well, that is the perfect definition of racism. That is all I have to say,” Kenyan entrepreneur Wangui Muraguri told the AP in response to Trump.
“Casual Friday at the White House is soon to include hoods and tiki torches at this rate,” South African media outlet Daily Maverick wrote.
Many on the world’s second most populous continent reached for their smartphones, long-practiced in defending the vast and varied region from easy stereotypes. While 40 percent of the world’s poor live in sub-Saharan Africa, according to the International Monetary Fund, the region also has billionaires, reality shows and a growing middle class.
The World Bank on Friday tweeted that sub-Saharan Africa’s economic growth this year is forecast at 3.2 percent. That was the U.S. economy’s annual rate of growth from July through September, according to Commerce Department data late last month.
Some in Africa quickly decided to own Trump’s vulgar language or throw it back in his face.
“Good morning from the greatest most beautiful ‘shithole country’ in the world!!!” South African Broadcasting Corporation anchor Leanne Manas tweeted.
“As someone from South Shithole, Trevor is deeply offended by the president’s remarks,” The Daily Show tweeted of its South African-born host, Trevor Noah.
In Kenya, East Africa’s economic hub, political activist Boniface Mwangi pleaded: “Please don’t confuse the #shithole leaders we Africans elect with our beautiful continent.”
Trump’s comments were “shocking and shameful” and “I’m sorry, but there’s no other word one can use but racist,” said a spokesman for the U.N. human rights office, Rupert Colville.
Trump’s comments highlighted months of concerns about his lack of focus on Africa, including empty ambassadorial posts in key countries like South Africa, Egypt, Congo and Somalia. A list maintained by the Washington-based American Foreign Service Association says eight such posts are vacant.
Trump has expressed negative opinions about the continent in the past. “Every penny of the $7 billion going to Africa as per Obama will be stolen – corruption is rampant!” he tweeted in 2013.
The U.S. president is only hurting himself both at home and abroad, some Africans said.
“He has not only insulted Africans, he has also insulted African-Americans,” said Sylvester Odion Akhaine, associate professor of international relations at the Lagos State University in Nigeria. “Internationally, such language will deepen the isolation of the United States, a country that is already losing its global prestige.”
An opposition lawmaker in Ghana called for a boycott by developing countries against the United States until Trump leaves office. “The sooner he is made aware that America needs the world and the world needs America the better it is for all of us,” Ras Mubarak said.
As outrage spread, the U.S. government’s own Africa Media Hub tried to put out the flames.
Without directly referring to Trump’s statement, it tweeted that “US remains committed to working together w/Africans to realize the promise of a more peaceful, more productive, more prosperous 21st century Africa. US deeply respects the people of #Africa & values its partnerships with them.”
Earl R. Miller, U.S. Ambassador to Botswana with President Khama
The Ministry of International Affairs & Cooperation wishes to inform the public and the international community that the Government of Botswana, today summoned the US Ambassador to Botswana to express its displeasure at the alleged utterances made by the President of the US, Donald Trump, when he referred to African countries and others as “shithole countries” during a meeting with a bipartisan group of lawmakers at the White House on Thursday 11 January 2018.
The Botswana Government has also enquired from the US Government through the Ambassador, to clarify if Botswana is regarded as a “shithole” country given that there are Botswana nationals residing in the US, and also that some of Batswana may wish to visit the US. The Government of Botswana is wondering why President Trump, must use this descriptor and derogatory word, when talking about countries with whom the US has had cordial and mutually beneficial bilateral relations for so many years.
Botswana has accepted US citizens within her borders over the years and continues to host US guests and senior government officials, including a Congressional delegation that will come to Botswana at the end of this month; that is why we view the utterances by the current American President as highly irresponsible, reprehensible and racist.
Botswana calls on SADC, the AU and all other progressive nations across the world to strongly condemn the remarks made by President Trump.
AN electro-pop song called “Mercy” by French duet Madame Monsieur is competing to represent France in the 63rd edition of the European song contest Eurovision in May. The piece tells the unique story of a toddler born on a rescue boat in the Mediterranean Sea.
“I am all those children taken by the sea”. There’s a stirring story behind the lyrics (originally in French) of this unreleased new song from Paris-based electro-pop band Madame Monsieur: one of a migrant baby born onboard a rescue ship a few months ago.
“Mercy is a positive song that intends to show that there’s always hope even when it all seems lost, as long as we keep a bit of humanity,” wrote duet’s Emilie Satt and Jean-Karl Lucas on their Facebook page on 1 January. They also proudly announced that the song was entering the competition to represent France in the famous European song contest Eurovision next May in Portugal.
Baby Mercy let out her first cry on 21 March 2017, on board the Aquarius. This humanitarian ship, operated by the two NGOs Doctors Without Borders and SOS Méditerranée, had just rescued 945 migrants and was about to dock at Catania’s port in Italy when the baby girl was welcomed to the world.
“What a memorable moment of emotion for the entire crew”, recalls French journalist Grégory Leclerc who was then reporting alongside the rescue team.
“Taiwo, her Nigerian mum, is doing well”, he said back then, adding that the captain of the Aquarius had signed the birth certificate himself “with great emotion.”
Births are quite unusual onboard rescue ships furrowing the Mediterranean sea. It was only the fourth one on the Aquarius, which started its operations in February 2016.
Mercy’s mother made the journey alone. As for her dad, he was still in a Libyan prison at the time of the birth. “We haven’t got any news since then”, said SOS Mediterranée on a Facebook post.
Madame Monsieur’s song will be fully unveiled late January on French TV. The band will be participating in a show to try to convince a jury and the public that Mercy has what it takes to win the European contest nest May in Portugal.
Bell (left) has backed Cameroon to deliver despite being an outspoken critic in the past
Former international Joseph-Antoine Bell says Cameroon will be ready to host the 2019 Africa Cup of Nations, ahead of an inspection visit by the Confederation of African Football (Caf).
Caf is set to tour the various host cities from Friday onwards, amidst long-standing concerns about the country’s preparations.
“Being on track is definitely the truth – Cameroon is on track,” Bell told BBC Sport.
Caf president Ahmad has repeatedly said that an alternative host will be found if Cameroon is not ready on time.
In August, the Malagasy said Cameroon would ‘have to work to convince Caf’ of its ability to host the finals, which expanded from 16 to 24 teams in July.
“I’m not convinced Ahmad wants any problem with anybody,” added the former goalkeeper, who has worked on occasions with the Caf president since his election last March.
“He said Cameroon wasn’t ready but this is because Cameroonian people – especially the press – were leaking such bad news.
“But remember Cameroon hosted the Women’s Africa Cup of Nations and they succeeded like nobody before, so why not trust them to do something wonderful.”
Cameroon hosted the Women’s Nations Cup in 2016 to widespread acclaim as vast numbers of spectators turned out for matches in the eight-team tournament.
Cameroon are the reigning African champions, having triumphed in Gabon last year
The inspection visit, which will be carried out by independent business consultancy Roland Berger, will start in Yaounde on 12 January before trips to Garoua, Bafoussam, Douala and either Limbe or Buea.
It will end with a visit to the Caf Centre of Excellence in Mbankomo on 23 January.
“People are behaving like this will be the first and the last inspection,” said Bell, who won two African crowns with Cameroon (in 1984 and 1988).
“This is just the first inspection and it’s coming to see step-by-step how far you are in the preparation of the Nations Cup.
“So it’s not like tomorrow morning they will tell us they will take away the organisation from Cameroon. I know people have talked about this before but it doesn’t work like that.”
“They do not have to be ready now, they have to be ready in at least March 2019. I’m totally convinced Cameroon will be ready.”
The 2019 tournament will take place in June and July after Caf moved the timing of the tournament from January and February.
Morocco, which will host this month’s African Nations Championship, has said it will step in as host should Cameroon be unable to stage Africa’s most prestigious sporting event.
LONDON, United Kingdom, 11 January 2018,-/African Media Agency (AMA)/- Enos Banda has been appointed Chief Executive Officer of Anergi, the major African power company established through the joint venture between Africa Finance Corporation (“AFC”) and Harith General Partners (“Harith”).
Anergi was established through the merger of the power investments of AFC and Harith, the two pre-eminent institutional investors based in Africa, bringing their experience and expertise together to create a new entity that combines both renewable and non-renewable power assets in Africa.
The joint venture has over 1,786 MW of gross operational and under-construction capacity which will supply reliable energy to over 30 million people in 5 African countries.
Anergi comprises AFC’s interests in Cenpower, owner of the Kpone Independent Power Project under construction in Ghana, and Cabeolica, a wind farm that provides 20% of Cape Verde’s energy needs, with those of the Pan Africa Infrastructure Development Fund (PAIDF) which is managed by Harith. The Harith interests include the Azura Edo IPP in Nigeria, the Lake Turkana Wind Power Project in Kenya, Kelvin Power Station in South Africa and the Rabai Thermal project in Kenya. Collectively this portfolio represents some of the largest recent independent power projects in Africa’s energy sector.
Enos began his career as a member of the New York Bar, working with White & Case LLP, a prestigious international law firm for which he helped establish a successful presence in South Africa, where he is also an Advocate of the Supreme Court. He is also an investment banker, having served as Sub-Saharan Africa Head for Global Investment & Corporate Banking and Country Head for two leading global investment banks. He has advised on major infrastructure projects, including a major electricity industry operator listed on the London Stock Exchange in relation to significant IPP bids and capital raising.
Enos’s experience in the electricity sector includes serving as the regulator of the South African electricity industry and, serving as CEO of Eskom Enterprises (Pty),the asset formation and maintenance arm of the Eskom Group, the largest producer of electricity in Africa. Eskom Enterprises is responsible for non-regulated electricity, supply industry activities, electricity supply and served as a generation and transmission utility outside South Africa. This includes project development, construction, operations, maintenance and energy solutions across Sub Saharan Africa including Nigeria, Uganda and Tanzania as well as Libya. He was responsible for a nine-fold net profit turnaround in his first year as CEO. This experience has also accorded him with a track record of operating at key ministerial and government levels across Africa.
Andrew Alli, President and CEO of AFC and Chairman of the Board of Directors at Anergi commented on the announcement: “We are thrilled to welcome Enos as CEO of Anergi. In addition to an impressive record in Africa’s infrastructure finance space, Enos has also served as CEO of Africa’s largest producer of electricity.
“It is precisely because of this experience that we believe he is best positioned to become the inaugural CEO of our joint venture with Harith. Whilst generation is steadily increasing, access to power remains one of the major barriers to economic prosperity in Africa. This venture will play an important role in closing this gap.”
Tshepo Mahloele, CEO of Harith General Partners also commented on the announcement: “The energy deficit Africa faces calls upon all of us to expedite and increase our efforts in closing this gap. Key to doing this is pulling together experienced pairs of hands together with substantial capital and other existing assets.
“An experienced pair of hands is precisely what Enos brings to the table. A confident, well established, self-starter, Harith is delighted to have him on board, and look forward supporting him in maximising the potential of Anergi in development power projects across the continent”.
AFC, an investment grade multilateral finance institution, was established in 2007 with an equity capital base of US$1 billion, to be the catalyst for private sector-led infrastructure investment across Africa. With a current balance sheet size of approximately US$3.5 billion, AFC is the second highest investment grade rated multilateral financial institution in Africa with an A3/P2 (Stable outlook) rating from Moody’s Investors Service. AFC successfully raised US$750 million in 2015 and US$500 million in 2017; out of its Board-approved US$3 Billion Global Medium Term Note (MTN) Programme. Both Eurobond issues were oversubscribed and attracted investors from Asia, Europe and the USA.
AFC’s investment approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. To date, the Corporation has invested approximately US$4 billion in projects within 28 countries across North, East, West and Southern Africa.
Harith General Partners is the leading Pan-African fund manager for infrastructure development across the continent. With offices in Johannesburg and Cote d’Ivoire; Harith manages Africa’s first and only 15-year US$630m infrastructure fund, the Pan African Infrastructure Development Fund (PAIDF) 1 and recently announced the first close of the US$435m PAIDF2.
The funds are invested in a number of major projects in diversified sectors such as energy, transport, information and telecommunications, and water and sanitation. Harith recently added health care as a sector.
PAIDF is supported by African capital raised from state pension funds, development finance institutions, top investment banks and financial institutions.
Harith is also in a partnership with Asset and Resource Management Company Ltd (ARM), a leading Nigerian financial services company which currently manages over US$2.7bn of assets, to form the ARM-Harith Infrastructure Fund (ARMHIF). ARMHIF invests in infrastructure projects in West Africa.
Kenya Airways becomes the first airline to offer a non-stop flight between East Africa and the United States of America
Kenya Airways Group Managing Director and CEO Sebastian Mikosz
NAIROBI, Kenya, January 11, 2018/ — Kenya Airways (www.Kenya-Airways.com) today marks a great milestone with the launch of a non-stop flight from Nairobi to New York. The national carrier starts selling today tickets for the inaugural flight which is scheduled for October 28th this year.
Kenya Airways becomes the first airline to offer a non-stop flight between East Africa and the United States of America.
The airline already serves Africa, Europe, Middle-East, Indian sub-continent and Asia. The opening of the US destination completes an essential piece for Kenya Airways’ network, cementing its position as one of the leading African carriers.
“This is an exciting moment for us. It fits within our strategy to attract corporate and high-end tourism traffic from the world to Kenya and Africa. We are honored to contribute to the economic growth of Kenya and East Africa.” said Kenya Airways Group Managing Director and CEO Sebastian Mikosz.
With over 40 American multinationals located in Nairobi and many more across Africa, the launch of daily flights is expected to further spur trade between America and Africa.
Kenya Airways will offer its customers a unique travel experience between two great gateways. It will be the fastest connection from East Africa to New York, with a 15 hours duration eastbound and 14 hours westbound. The ultra-long-haul flight, unique to Kenya Airways network, will require 4 Pilots and 12 Flight attendants as well as 85 tons of fuel each way, making it an exceptional operation.
The airline will operate its state of the art Boeing 787 Dreamliner with a capacity of 234 passengers. The flight will depart every day from Jomo Kenyatta International Airport hub in Nairobi at 23:25 arriving at JFK airport in New York at 06:25 the following day. From New-York it will depart at 12:25 landing at JKIA at 10:55 the following day. Its duration will be 15 hours east bound and 14 hours west bound.
This convenient schedule will allow connections to and from over 40 African destinations through Kenya Airways hub in Nairobi.
In a continent that has for long been dogged by cash and liquidity challenges, one would think any probable solution would be welcomed and embraced as it emerges but alas in our beloved Africa, we tend to wait until everyone else (and I mean everyone) adopts something before we do.
Bitcoin is a digital currency anonymously founded in 2009 that works in as much the same way as conventional currencies. Since 2009, Bitcoin has been rising in value steadily before astronomically hitting dizzy heights in the second half of 2017. In its first couple of years, many people around the world were sceptical on Bitcoin but as the years passed, many started to embrace and adopt this digital currency.
Despite Bitcoin’s high uptake rate among individuals and corporates globally, only a few namely Canada, Malta and at one stage China regulated and accepted Bitcoin as a legal medium of exchange. However, as countries such as the US, UK and Australia have the highest rates of Bitcoin uptake; we are inclined to forgive the governments of these countries as they have some of the world’s most stable economies and strong currencies. The same however cannot be said of Africa, a continent that has struggling economies at various stages of underdevelopment and a continent that has some of the world’s most highly volatile and inflatable currencies, others like Zimbabwe not even having their own currencies.
Countries in Africa cite different reasons they have not and are currently not considering adopting Bitcoin. However, one of the most cited reasons is that Bitcoin opens up avenues for inter alia the financing of terrorism and money laundering. Notwithstanding the fact that terrorism and money laundering are two evils that need to be weaved out especially the former in North and West Africa, it seems in this case that the positives far outweigh the negatives.
Bitcoin and its underlying technologies’ positives include the potential to facilitate faster transactions, reduce payment costs, reduction in third-party seizures, fully compatible with mobile and allow user anonymity. Juxtaposition the positives and negatives, one would say it’s now time for Africa to start regulating Bitcoin.
A case-by-case study reveals that most African states haven’t yet formulated policies, laws or regulations specifically relating to Bitcoin. Below we look at some selected countries and how their governments view Bitcoin and its underlying Blockchain technology.
Just like most states, South Africa has not explicitly restricted or banned Bitcoin but it has shown some disdain by issuing a public notice through the South African Reserve Bank warning the public on the dangers of using Bitcoin. The South African government, however, became a signatory to the Bitcoin Scaling Agreement in August 2017 and many Bitcoin investors saw this as the first step by the government in warming up to Bitcoin.
Kenya took the same step taken by South Africa in issuing a public notice warning the public from using Bitcoin. It went a step further by explicitly restricting banks from providing loans to start-ups with interests in Bitcoin or any other cryptocurrencies. Despite all this, Kenya remains the largest volume trader of Bitcoin on the African continent.
Officials from the Reserve Bank of Zimbabwe insist that transacting using Bitcoin in Zimbabwe is illegal though there are no legal provisions to that effect. This has left a gap exploited by many people in this country that has been bedevilled by years of hyperinflation, a weak currency and a limited access to financial access. Zimbabwe’s Bitcoin adoption ranks as one of the highest in Africa.
Bitcoin is unregulated in Swaziland but the government of Swaziland recently made it clear that it will soon be opening up the Swaziland market for Bitcoin. Majozi Sithole, the country’s Central Bank Governor while speaking at the Swaziland Economic Conference in 2017 said that the government is seeking expert opinion relating to Bitcoin and soon the digital currency will be open for everyone to use.
Air-Inclusive Packages on Sale through February 28th*
Fort Lauderdale, FL (January 8, 2018) – South African Airways Vacations® (SAA Vacations®), the leisure division of South African Airways, kicks off the New Year with savings on all of their air-inclusive vacation packages. SAA Vacations® is offering 10% off their array of affordable luxury holidays to a wide variety of destinations throughout Africa. From trendy hotels in cosmopolitan cities to opulent safari lodges, this special discount applies to all SAA Vacations® packages booked by February 28, 2018, for travel in 2018.
“SAA Vacations® is excited to start off the New Year with great savings on our entire product portfolio of air inclusive packages to destinations throughout Africa, “said Terry von Guilleaume, president of SAA Vacations®.
Any package booked by February 28th for travel in 2018 will offer special savings of 10% off. Now is the time to visit one or more of the many exciting destinations Africa has to offer. SAA Vacations® specializes in providing an amazing African experience and travelers can have full confidence that they are getting the best value for their money.”
Travel packages customized by SAA Vacations® are inclusive of round-trip air transportation on award-winning South African Airways, hotel accommodations, ground transportation, sightseeing excursions, wine tours, and wildlife safaris and with extra amenities, such as personalized assistance throughout the journey. With first-hand experience on travel to Africa, no one knows the destination better than SAA Vacations®.
This special discount is available for new reservations made by February 28, 2018, for any air-inclusive package offered by South African Airways Vacations®. To take advantage of the 10% discount or for more information, travelers should contact their professional travel consultant or call 1-855-359-7228. South African Airways Vacations® offers vacation options for all budgets, with African Specialists on hand to ensure clients experience the vacation of their dreams. For a complete overview of vacation packages to Africa, visit www.flysaavacations.com.
A division of South African Airways (SAA), South African Airways Vacations® (SAA Vacations®) is highly regarded for its wide array of affordable luxury packages to Africa and uses SAA’s extensive route network to create packages for travel throughout South Africa,Botswana, Victoria Falls, Namibia, Mozambique, Zambia, Zimbabwe, Kenya, Tanzania, Senegal, Ghana and the Indian Ocean Islands.
Offering more than 80 air-inclusive packages, which range from value to superb luxury. Our specialty-themed programs offer unique experiences, whether you are interested in safaris, culture, cuisine, romance and adventure. The program is managed and fulfilled by DSA Vacations, founded in 2001, and offers an extensive portfolio of tour programs with a variety of hotels, game lodges, and safari companies throughout Southern Africa.
South African Airways (SAA), South Africa’s national flag carrier and the continent’s most awarded airline, serves over 75 destinations worldwide in partnership with SA Express, Airlink and its low cost carrier Mango. In North America, SAA operates daily nonstop flights from New York-JFK and direct flights from Washington D.C.-IAD (via Accra, Ghana and Dakar, Senegal) to Johannesburg. SAA has partnerships with United Airlines, Air Canada and JetBlue Airways, American Airlines, Virgin America and Hawaiian Airlines, which offer convenient connections from more than 100 cities in the U.S. and Canada to SAA’s flights. SAA is a Star Alliance member and the recipient of the Skytrax 4-star rating for 15 consecutive years.
The New Partnership for Africa’s Development (NEPAD) and the African
Capacity Development Foundation (ACDF) have signed a Memorandum of
Understanding (MOU) to build partnerships for supporting the
implementation of Africa’s socio-economic transformation.
According to Professor Emmanuel Nnadozie, Executive Secretary of the
ACBF, the two parties now endeavor to engage more strategically on
areas of common interest based on Africa’s emerging capacity needs. He
also added that that is why the two organisations are now formally
renewing and stepping up their level of engagement.
According to Professor Nnadozie, ACBF’s relationship with NEPAD
dates back to January 2004 when the two parties engaged into an MOU
that sought to establish a partnership between the two organisations
in matters relating to capacity building.
It is reported that a number of activities have been implemented
under the MOU, with ACBF directly investing $2 million, out of which,
NEPAD managed to absorb about $1 869 244.
The MOU will provide a framework of cooperation to facilitate
collaboration between ACBF and NEPAD focusing on the strengthening of
capacity development in Africa for the effective implementation,
monitoring and evaluation of Agenda 2063 and its 10 year plans.
Nnadozie added that priority areas of mutual focus will include
implementation, monitoring and evaluation of capacity development in
the first 10year plan of Agenda 2063 and Agenda 2030, joint
implementation of African Union AU/NEPAD 2015 to 2025 capacity
development plan for Regional Economic Communities on institutional
development for effective implementation of regional development plans
and agenda 2063, joint implementation of findings from ACBFs
assessment of Regional Economic Communities capacity needs,
partnership in the design and implementation of critical technical
skills development programmes at country and regional levels,
cooperation on development and publication of the ACBF flagship Africa
capacity reports and other capacity development knowledge products
such as tools, guides and case studies in Africa’s priority areas of
The other focus will be to jointly mobilise resources for the
implementation of the areas of collaboration.
Asked by the Pan African Visions to reveal the cost of the new MOU,
Professor Nnadozie said that they were in the process of doing the
costing and would come up with the appropriate amount soon.
Dr Ibrahim Assane Mayaki, CEO of the NEPAD agency signed the MOU on
behalf of his organization.