Browsing: South Africa

• When the United Nations General Assembly voted overwhelmingly on March 2 to condemn Russia’s invasion of Ukraine, African countries accounted for almost half of the 35 abstentions including South Africa.
• The conflict triggered by Russia’s invasion has complicated the challenges and sources of stress already facing Southern Africa.
• A few countries are sensing long-term growth opportunities from the crisis. Specifically, Africa’s natural gas could reduce Europe’s dependence on Russian energy.

Russia’s invasion of Ukraine has upended the existing world order and with it the global energy, production, distribution, and financial systems. Russia and China are openly challenging the Pax Americana. But the question of what the next world order will look like remains wide open.

On February 24, 2022, Russia launched a large-scale invasion of Ukraine, its neighbour to the southwest, marking a dramatic escalation of the Russo-Ukrainian War that began in 2014, Putin announced a “special military operation” in …

By 2023, the value of Africa’s legal cannabis market could be at least US$7.1bn across nine key African countries if they legalize recreational and medical use, according to The African Cannabis Report from industry analysts Prohibition Partners. Worldwide, the Covid-19 lockdown period saw record-breaking sales of cannabis in multiple regions. Global sales of CBD (an active cannabis ingredient frequently used as a natural remedy), medical cannabis, and adult-use (recreational) cannabis topped US$37.4bn in 2021, and could rise to US$102bn by 2026, says the firm.

According to African Business, natural and situational advantages have attracted investor interest in Southern Africa. In mid-March, Akanda, a London-headquartered firm that owns the Bophelo Bioscience & Wellness cultivation campus in Lesotho, announced the completion of its initial public offering of 4m shares on the Nasdaq Capital Market.

Cannabis Business Africa, in an article published as far as February 13, 2021, said SilverLeaf Investments is aiming …

Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.

Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.

On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related …

The Traditional Chinese Medicine (TCM) and Acupuncture Centre at the Parirenyatwa Hospital in Harare, the capital of Zimbabwe, has started training on TCM and acupuncture for the first batch of local health workers to meet the growing demand for Chinese medicine in the country.

According to Xinhua, the centre was established in 2020 as part of efforts to offer Zimbabweans affordable medical treatment and has in recent months seen a multitude of patients seeking medical attention free of charge

Zhu Wei, a TCM doctor and chief of the centre, said the three-month program aims to train a group of local health professionals who can provide an alternative medical option to Zimbabweans.…

Last week, the biggest power generation plant in Zimbabwe, Kariba South, was generating only 758MW against an installed capacity of 1 050MW.

Hwange Power Station was generating 411MW against an installed capacity of 920MW.

Completing Unit 7 in November this year and Unit 8 at Hwange Power Station by March next year will add 600MW to the grid and help ensure reliable and sustainable supplies to meet growing demand.

Meanwhile, ZESA can now legally incorporate drones in its service delivery. This announcement was made at an event the national power company held to mark its acquisition of a Remotely Piloted Aircraft Operator’s Certificate (ROC).…

• Kenya Airways (KQ) and South African Airways (SAA) have signed a codeshare agreement that opens more destinations for seamless travel opportunities
• The deal comes when demand for air travel is rebounding following negative shocks caused by the COVID-19 pandemic
• The partners noted that the code-sharing agreement would see each airline sell, under its own code, flights operated by each other; South African Airways or Kenya Airways

Kenya’s national carrier Kenya Airways (KQ) and South African Airways (SAA), have signed a codeshare agreement that opens more destinations for seamless travel opportunities.

According to the partners, the deal comes when demand for air travel is rebounding following negative shocks caused by the COVID-19 pandemic.

The partners noted that the code-sharing agreement would see each airline sell, under its own code, flights operated by each other; South African Airways or Kenya Airways.

SAA’s customers would continue to earn Voyager Miles on these new …

Zambia is Africa’s largest copper producer, which is one of the reasons it has one of the strongest currencies on the continent. The country possesses abundant natural resources, and because copper is the most prevalent metal, copper mining is carried out on a massive scale. This provides Zambia with a significant rise in foreign currency earnings from the sale of metals to other countries.

Bscholarly notes that the value of a currency is significant because it determines the economic performance of a country. This has a direct impact on a currency’s demand on the global market. Exchange rates compare one currency to another and provide an overview of a currency’s strength in the global marketplace. According to financial analysts, factors like interest rates, economic policies, and stability determine the strength of any currency.

Mining liberalization, a debt restructuring programme following default on debt repayments in 2020, and high commodity prices …

The African Development Bank (AfDB)’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new ground-breaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.

Africa has great potential for drug discovery. The continent has natural resources, indigenous knowledge, and human capacity

AfDB Group President, Dr. Akinwumi Adesina said: “This is a great development for Africa. Africa must have a health defence system, which must include three major areas: revamping Africa’s pharmaceutical industry, building Africa’s vaccine manufacturing capacity, and building Africa’s quality healthcare infrastructure.”

The World Trade Organization and the World Health Organization, respectively, also welcomed and lauded the AfDB’s decision to establish the African Pharmaceutical Technology Foundation.…

The Entebbe airport stands to transform Uganda’s movement over time as it advances to become an oil economy alongside Tanzania.

South Africa, one of the wealthiest countries, has the largest road network, 750,000kms, while Tanzania, East Africa’s competitive economy, has more than 86,000km of roads.

In the current economic scenario, where uncertainty brought by economic shocks from the pandemic and political tensions force nations to expand their horizon of influence, the past years have shown why African infrastructures must be robust and conducive to enhancing value creation.

Whoever moves fast and swiftly dominates the economic conversation. South Africa, Kenya, Namibia and Nigeria are among the top African nations with more robust economies.…

Reliable and affordable telecom services have never been more vital to our national economic and social resilience.

That is why, across Africa and throughout the globe, national leaders and policymakers are prioritising the preservation of satellite broadband access – and why South Africa needs to keep pace with the rest of the world on this critical issue.

The technical details are relatively simple: the most widely useful and applicable satellite services are provided using the Ka-band, also known more widely as the “28 GHz band”.

What kind of useful services?

• Reducing “digital deserts” by bringing broadband internet connectivity to unserved and underserved communities.
• Ensuring near-ubiquitous access and vastly improved quality across the most densely populated urban areas. Among other benefits, the 28 GHz band lets satellite operators deliver the capability to pinpoint configurations of access when demand is at its peak.
• Reducing constraints on access by delivering a wider range