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April 26, 2018

1

Moody’s changes Ratings for Africa-Focused Glencore to Positive Outlook

Moody’s Investors Service has changed Glencore’s rating to a ‘Baa2’ long-term issuer grading with a positive outlook.

It says Glencore’s improved credit rating was propelled by higher commodity prices and consistently low production costs.

“[Our decision] reflects material operating profit growth in 2017, which, together with continued conservative"...

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April 26, 2018

2

South African Designer Laduma Is Taking ZARA to Court For Copying His Sock Design

The popular South African fashion brand Maxhosa By Laduma, owned by Laduma Ngxokolo, is taking legal action against retail giant ZARA over a sock design. People on Twitter and Instagram alerted Maxhosa that ZARA lifted their design a few days ago.

The South African brand wrote in a press release on their official website:

'Earlier this month (April 2018), we were alerted"...

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April 26, 2018

3

Will fashiontech make Africa more competitive in the global fashion sector?

What are you wearing today? Odds are your clothes were not designed or made in Africa. According to the African Development Bank Group, sub-Saharan Africa represents just under one percent of global fashion exports. Could the fusion of tech and fashion –fashiontech — make Africa more competitive in the fashion industry? Mustapha Zaouini, who runs a Johannesburg-based tech startup studio, says the market for fashiontech solutions in Africa is as yet unquantified, but adds that it is growing. He points to the McKinsey Global Fashion Index which forecasts that industry sales are expected to nearly triple between 2016 and 2018, from 1.5% to between 3.5% to 4.5%. Last Monday (16 April) Zaouini’s studio Fliptin hosted the FashionTech Africa Hackathon in collaboration with business consultancy NonZero, and the Tshimologong Digital Precinct as part of the graduation event of the......

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April 26, 2018

4

Sub-Saharan Africa’s Spending in Public Healthcare Falls by 15%

Sub-Saharan Africa’s public health expenditure as a percentage of gross domestic product (GDP) has fallen by more than 15% in just five years, the latest data on the subject has revealed.

According to the ‘Ibrahim Forum Report’, a 2018 analysis, Sub-Saharan Africa has the second smallest public health expenditure of all regions, far below the world average.

The"...

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April 26, 2018

5

Only Mustang, Focus crossover to survive Ford car cuts

Ford Motor Co. plans to trim $25.5 billion in operating costs by 2022 and cut its North American passenger car lineup by more than 80 percent, eliminating the Taurus, Fiesta, Fusion, C-Max and Focus sedans within a few years.

CEO Jim Hackett said Wednesday that Ford will not make the next generation of those sedans, confirming months of reports that the automaker was considering cutting some of its unprofitable car models in favor of trucks and SUVs."...

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April 26, 2018

6

These are the most wanted cars in South Africa right now

AutoTrader has released new data on South Africa’s auto-buying public, with search statistics showing exactly which cars are the hottest in the minds of motor enthusiasts right now.

Gathered from user statistics throughout 2017, AutoTrader has confirmed that, for South Africans, the BMW 3 Series is the most sought-after car; a sedan is the country’s preferred body type; and a journey of 100km to secure a dream automobile is perfectly acceptable.

"...

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April 26, 2018

7

Uganda picks consortium to finance and operate greenfield oil refinery in Hoima District

Following the favourable evaluation of its private sector-led offer by the Uganda Government, the Albertine Graben Refinery Consortium (AGRC) comprised of YAATRA Ventures, Baker Hughes, a GE company, LionWorks Group and Saipem, have signed a project framework agreement confirming its selection for the realization of a 60,000 barrels per day capacity refinery with a project estimated value of around $3 billion.

YAATRA Africa is an infrastructure development"...

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April 26, 2018

8

Dr. Yohannes Birru appointed chairman of Africa Trade Insurance Agency

The Board of Directors of the African Trade Insurance Agency has elected Dr. Yohannes Ayalew Birru as their new Chairman.

Dr. Birru serves as Vice Governor and Chief Economist of Ethiopia’s Central Bank (National Bank of Ethiopia). He is also an Alternate Governor of the IMF and Alternate Steering Committee member of East AFRITAC.

He brings 28 years of cumulative experience"...

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April 26, 2018

9

Church-run nursery ordered to close in Algeria

Authorities in Algeria’s north-eastern city of Tizi-Ouzou, in the Kabylie region, have closed down a day-care centre for Christian children.

The Early Childhood Home was established more than 10 years ago by Église Protestante du Plein Évangile (The Full Gospel Protestant Church), also known by its French acronym EPPETO.

EPPETO is the biggest church in Algeria."...

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April 26, 2018

10

Algeria's Q1 cereal imports bill up 8.5 pct -customs data

Algeria's first-quarter imports of cereal, semolina and flour rose 8.5 percent by value, official figures showed on Wednesday.

Algeria has been trying to reduce imports of grain and other food products in a bid to cut spending due to lower energy earnings since mid-2014.

Imports bill for durum wheat, soft wheat, semolina and flour rose to $816.2 million in the first three"...

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