Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Posts Tagged ‘african’

African economies

Posted by fidest press agency su giovedì, 27 ottobre 2016

african-economiesThe big divider is resources. As commodity prices have slumped, so too have the fortunes of big exporters. As a group, resource-rich countries will grow on average by 0.3% of GDP, says the IMF. Take oil-rich Angola, once the fastest-growing country on the continent: it will not grow at all this year, and is wrestling with inflation of 38%. Commodity-exporting countries saw the value of their exports to China almost halve in 2015. Public debt is rising sharply. Exchange rates are falling. Private consumption has collapsed.
Things look very different in countries which are less resource-dependent. They will grow at 5.5% this year. They have been helped, of course, by falling oil prices, which makes their imports cheaper. But they are stronger in other ways too. In east Africa, for example, a wave of public investment in infrastructure has boosted demand.Governments cannot set commodity prices. Nor can they stop drought, which has hit agriculture in countries such as Ethiopia and Malawi. But their decisions do make a difference. Nigeria’s disastrous attempt to prop up its exchange rate hurt far more than it helped. Investors in Mozambique were unimpressed when the country revealed hidden debts in April. Growth in South Africa has slowed to almost zero amid political wrangles and an energy crisis. Now is the time to get the policies right, urges the IMF.The numbers should be read with a pinch of salt: GDP figures are only ever a best guess, and Africa’s large informal economy makes the calculation even harder. Talk to traders in Uganda, for instance, and you will hear a story very different to the IMF’s forecast of 5% growth. The overall lesson, though, is clear. If you rely on commodities, diversify—or face the consequences. That is easier said than done. Look to east African countries, hailed for their innovations in mobile banking, who are suddenly now touting a fresh source of riches: oil and gas. (photo: african economies) (font: The economist)

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Objects of African and Oceanic art as well as a selection of 60 lots of archaeology from the estate of Madeleine Meunie

Posted by fidest press agency su venerdì, 16 settembre 2016

madeleine-meunieParis – This December 15th in Paris at the Hôtel Drouot, Millon, in cooperation with Christie’s, will be auctioning nearly 80 objects of African and Oceanic art as well as a selection of 60 lots of archaeology from the estate of Madeleine Meunier. These remarkable works of art have remained out of the public eye for over half a century. Alexandre Millon, President of Millon auction house: “At the forefront of the Madeleine Meunier Collection are forgotten treasures of rare and captivating works of African and ancient art. The mythical figures of Aristide Courtois and Charles Ratton, at the heart of this collection, will also be celebrated. Their names live in perpetuity in the marketplace with this commemorative auction in two ways: In honor of the heirs who have given us their trust and with the appreciation of collectors and institutions, whose presence at Drouot will enhance the special atmosphere created by the legacy of such prestigious provenance”.François de Ricqlès, President of Christie’s France, says: “This selection of African and Oceanic sculptures is illustrative of a time of astute art collecting specific to those who discovered African art at a time when classic tastes reigned supreme in the Western world.It is a fascinating testament to two leading figures in the history of the appreciation of tribal art, who ignited a path to the field’s fame: Aristide Courtois and Charles Ratton.It is clear that this auction will be a sale of great importance; one that will draw the greatest collectors into bidding wars not soon to be forgotten.” (photo: Madeleine Meunie)

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VEDC and JPMorgan Chase Announce Loan Fund for African American-Owned Small

Posted by fidest press agency su giovedì, 29 ottobre 2015

New YorkNEW YORK, October 23, 2015 /3BL Media/ – VEDC and JPMorgan Chase & Co. today announced a new lending program for African American-owned small businesses in New York City, Chicago and Los Angeles. The National African American Small Business Loan Fund will boost economic opportunity for minority-owned businesses in these cities and help them serve low-income communities by providing them with greater access to capital, technical assistance and financial consulting. JPMorgan Chase Foundation has contributed a $3 million grant to help VEDC reach its goal of creating a $30 million loan fund.Facilitated by VEDC, a California 501(c)3 Community Development Financial Institution (CDFI), this new Fund will provide financing for businesses across all industries. By providing the initial $3 million grant to seed the Fund, JPMorgan Chase is helping VEDC support small businesses that are a critical source of jobs and economic opportunity in their neighborhoods, but may be credit-impaired and unable to qualify for traditional capital. Without access to sustainable financing, these businesses may miss a growth opportunity or risk closing their operations.“As a direct small business lender and a leading intermediary of SBA loan programs, VEDC has a 39-year track record of providing business services to small businesses in low-and middle-income communities and especially in communities of color,” said Robert Barragan, President and CEO, VEDC. “Approximately 20 percent of our existing portfolio serves the African American community. With JPMorgan Chase’s seed funding, we look forward to helping more small businesses in our effort to further narrow the lending gap.” Currently, there are 268,000 African American-owned small businesses in New York, Chicago and Los Angeles – making them among the top cities for African American-owned small businesses. With ownership of approximately 1.9 million, 7 percent of small businesses nationwide, African Americans are the fastest growing segment of small business owners. [1]However, business loans to African American entrepreneurs have yet to rebound since the economic downturn in 2008. To address this need, the National African American Small Business Loan Fund will provide short and long-term loans. Loan sizes will vary, but the average loan will range from $35,000 to $250,000. The JPMorgan Chase grant will allow the National African American Small Business Loan Fund to provide loans and technical assistance and establish a loan loss reserve. This reserve will allow VEDC to expand its lending criteria to New York, Chicago and Los Angeles small businesses that traditionally did not qualify for a loan. “African American small business owners have identified flexible capital as a critical resource for growth, but they face a shortage of this kind of support,” said Janis Bowdler, Head of Community Development for Global Philanthropy, JPMorgan Chase. “CDFIs like VEDC provide small businesses with the consulting and financing they need to grow their operations and often serve as a bridge to traditional bank loans down the road. We’re proud to partner with VEDC on this new fund, which will increase access to the capital and assistance that African American entrepreneurs need most.” Businesses receiving financing will be able to use the capital to expand, finance equipment, address short-term cash flow needs and provide contractor lines of credit. The Fund will also provide small business loan recipients with technical assistance such as networking, marketing, business plan development and financial consulting. Eligible small businesses must be majority-owned by African Americans.
“This new lending program will be another critical piece in our ongoing efforts to promote small business development and entrepreneurship in all Chicago communities, and particularly those that have traditionally lacked access to capital,” said Chicago Mayor Rahm Emanuel. “By investing in Chicago’s minority-owned businesses, VEDC and JPMorgan Chase are showing the power of the private sector to help cities tackle some of our biggest challenges.” “African American-owned small businesses are vital economic engines in Los Angeles, and when they are empowered, our communities have new doors open to them — opportunities that they both need and deserve,” said Los Angeles Mayor Eric Garcetti. “We expect great things from this fund, and thank VEDC and JPMorgan Chase for their commitment to addressing this great need.” “These small businesses are the heart of our neighborhoods,” said New York City Mayor Bill de Blasio. “They put people to work and create opportunity for families to make their way up the economic ladder. We are excited to partner with JPMorgan Chase and our fellow cities to support and grow African-American small businesses.” “We know that mission lenders hold the key in providing a sustainable source of capital to minority borrowers and those that have been left out of the economic mainstream,” said Grady Hedgespeth, Director of U.S. Small Business Administration Office of Economic Opportunity.

Posted in Economia/Economy/finance/business/technology, Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Groundbreaking Report Commissioned by Born Free USA Uncovers Ivory Supply Chain from Poached African Elephants to Markets in Asia

Posted by fidest press agency su lunedì, 20 ottobre 2014

born freeWashington, Born Free USA and C4ADS released a groundbreaking report, Out of Africa: Criminalisation of the African Ivory Trade, which focuses on the ivory supply chain and the trafficking of ivory from the bush in Africa to retail markets tens of thousands of miles away in Asia. This information comes four months after the groups’ shocking report, Ivory’s Curse: The Militarisation and Professionalisation of Poaching in Africa, which detailed the poaching crisis and its links to violent militias, organized crime, and government corruption. View the full report at http://www.bornfreeusa.org/OutOfAfrica. According to Adam M. Roberts, CEO of The Born Free Foundation and Born Free USA, “The ivory trade is operating today at the highest level since the 1989 commercial ivory trade ban. Our investigation reveals that between 2009 and June 2014, there were more than 90 large-scale ivory seizures, collectively weighing almost 170 tons that bear the hallmarks of international organized crime. This would amount to approximately 229,729 elephants killed and trafficked in fewer than six years.””It is well known that East Asian nationals, and, in particular, the Chinese, drive the modern ivory trade. However, the scale we found in our investigation was shocking; Chinese traffickers are present in virtually every single African range state, and operate at nearly every point along the ivory supply chain,” Roberts explains. Varun Vira, Chief of Analysis at C4ADS and co-author of the report commissioned by Born Free USA, said, “The ivory trade is worth billions of dollars but is still talked about as if it were an unprofessional, disorganized, and artisanal industry, of concern only to conservationists. In reality, it is a highly organized, complex global crime that has avoided consequence for decades. However, our report reveals that there may be as few as 100 large-scale ivory containers moving annually that drive the vast majority of the entire illegal trade. Focusing efforts on intercepting these containers and tracing back their owners and facilitators can have a real impact on the trade.” (born free)

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Sub-Saharan Africa’s telecoms market is growing faster than that of any other global region

Posted by fidest press agency su sabato, 18 ottobre 2014

JohannesburgJohannesburg.The African telecoms market is set to be one of the main growth success stories for the telecoms sector in the next 5 years, according to a new report entitled Sub-Saharan Africa telecoms market: trends and forecasts 2013–2018 from telecoms specialist Analysys Mason.The telecoms market in Sub-Saharan Africa (SSA) is transitioning, as growing revenue from mobile data services increasingly matches mobile voice growth.Telecoms service revenue in the SSA market will increase at a 6% CAGR during 2013–2018 (mobile at 6.7% and fixed at 1.0%), jumping from USD49 billion in 2013 to more than USD65 billion in 2018.Increased 3G coverage and capacity, and the widespread introduction of low-cost smartphones will help support the take-up of mobile data services. A related key driver is the increasing take-up of adjacent digital economy offerings – notably, mobile financial services.According to Analysys Mason’s regional analyst Mpho Moyo, “SSA’s telecoms market is growing faster than that of any other region, and will increase its share of worldwide telecoms revenue over the next 5 years, although this will still remain small compared with other regions.”The SSA market accounted for only 2.9% of worldwide telecoms revenue in 2013, increasing to 3.6% by 2018.Telecoms revenue in SSA will continue to be heavily dominated by mobile services, which accounted for 86.5% of telecoms revenue in 2013 and will contribute an even higher 89.4% in 2018. Mobile voice and handset data revenue will together deliver 90% of the total telecoms revenue growth in the region in the next 5 years.Mobile growth is coming in part from expanded penetration of mobile services generally. Mobile penetration of population was still below 80% in most countries in SSA in 2013, with the exception of Ghana and South Africa. Mobile voice will continue to be the largest component of the telecoms market through 2018, as new subscribers, new market entrants and mobile termination rate (MTR) reductions drive price competition and increased traffic.However, mobile data revenue will grow far faster than mobile voice revenue (at a 5-year CAGR of 19.6% compared with 4.7% for voice). Mobile handset data’s share of total telecoms revenue will almost double by 2018, reflecting the role of mobile devices as the main Internet access point for most users in Africa.Increased penetration of smartphones in the SSA region is underpinning handset data growth. Smartphone penetration will more than double from 12% of handsets in 2013 to 26% in 2018 (at a CAGR of 25.2%).Access to high-speed broadband services will remain restricted to a minority of users in the region for the next 5 years. 3G connections will account for 23% of mobile (non-M2M) connections by 2018, while 4G will account for only 3%. Fixed broadband household penetration will continue to lag significantly behind global averages at only 3.3% in 2018, and levels well below 2.0% in most markets. Significant structural and commercial barriers will continue to restrain fixed services growth – particularly outside major urban areas.As report co-author Alexandra Rehak notes, “Under-penetration of fixed and mobile data services in SSA represents a major growth opportunity for service providers and other market players, as does the growing demand for value-added digital economy offerings such as mobile financial services. However, affordability, coverage and effective regulatory and market structures remain major challenges for successful telecoms development in Africa.”

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AfDB Participates in Launch of The New Alliance for Food Security and Nutrition

Posted by fidest press agency su sabato, 19 Mag 2012

African Development Bank President Donald Kaberuka joined U.S. President Barack Obama on Friday for the launch of a new initiative that aims to reduce poverty and stimulate economic growth. The launch of The New Alliance for Food Security and Nutrition coincides with the Group of Eight (G8) Summit, which is being hosted at Camp David, the U.S. Presidential retreat near Washington. The G8 consists of the world’s largest economies.
The new alliance aims to strengthen food security and nutrition by bolstering agricultural investment, spurring innovation and engaging more partners from the private sector. G8 member nations will support these efforts and ensure accountability. At the launch event, AfDB President Donald Kaberuka spoke about the steps that must be taken to improve food security and stimulate economic growth. During a panel discussion, President Kaberuka said that improving Africa’s infrastructure, transportation, access to water and trade will drive economic growth in the same way that it has in countries like India.
The panel was immediately followed by a keynote speech from U.S. President Barack Obama, who stressed the importance of food and nutrition security not only for developing nations, but also for the good of the global economy.He told the audience that improvements in this area are “Not only a moral imperative, but an economic imperative as well.”President Obama and President Kaberuka will be together again on Saturday. They’ll gather with G8 leaders, several African heads of state and a select group of executives from the private sector for an intimate session at Camp David. Again, the topic will be food and nutrition security and its influence on Africa’s economic prospects.Distributed by the African Press Organization on behalf of the African Development Bank. For more on the African Development Bank, go to http://www.afdb.org (image002)

 

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African migrants brutalized en route to Israel

Posted by fidest press agency su domenica, 20 febbraio 2011

Jerusalem (Israel) Testimonies given to Hotline for Migrant Workers describe horrific ordeals, systematic rape, torture at hands of Beduin smugglers.  The report also cites a study previously compiled by Every-One Group, a collection of Italian human rights groups, which found that migrants were threatened with having their organs cut out and sold. The testimony of A.I.S, a 21-year-old Eritrean woman, is part of a report released by the Hotline for Migrant Workers on Wednesday detailing horrifying ordeals reportedly suffered by African migrants to Israel at the hands of their Beduin smugglers in the Sinai Peninsula. The report, titled “The Dead of the Wilderness,” is full of tales of rape, torture, murder, extortion and near-starvation compiled during interviews with 60 African migrants. The 24 women and 36 men, mainly from Eritrea, reported suffering severe brutality on their way to Israel. Most of the interviews were conducted by the Hotline at the Saharonim Prison, where the migrants were held after arriving in the country.In 2010, 11,763 people were smuggled into Israel across the Egyptian border, according to a report by the Knesset Research and Information Center. Most, if not all, of these people paid exorbitant sums in the thousands of dollars to Beduin smugglers, and many reportedly found themselves held hostage later by the smugglers until their families could pay a ransom. Many of those held for ransom were reportedly subjected to repeated torture and rape – used against both women and men – to force their families to send more money to end their ordeal.However, the suffering doesn’t always end with the payment of ransom, according to the report, which cites the case of some 18 men who were forced into slave labor to build sprawling Sinai mansions for two of the traffickers. The report also cites a study previously compiled by Every- One Group, a collection of Italian human rights groups, which found that migrants were threatened with having their organs cut out and sold. The Hotline report portrays the Beduin smugglers as tending to rape their captives, and states that according to the testimonies collected, it appears that the majority of the approximately 5,000 women held by smugglers in the Sinai last year were raped during their time there, many of them repeatedly. Of the 24 women interviewed for the report, 17 stated that they had been raped – an especially high number, the report says, considering that rape victims are typically very reluctant to come forward, particularly those from conservative African societies, where victims of sexual assault are often ostracized from their communities.

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