The fourth industrial revolution will hurt Africa; many jobs may be lost to robots. Lower-skill industries across the world, especially in developing countries, are threatened by advancement in technology.
Google wants to train one million Africans. The company is scaling up its digital skills training programs to accommodate a million Africans in the next year, aiming to deal with high unemployment numbers on the continent.
While Tesla’s cars are becoming more popular in the West, Africa may not need more than its batteries for decades. Enel Green Power SpA, the renewable energy unit of Italy’s biggest utility, is rolling out a version of Tesla Motors Inc.’s home-power kit to help South African retail customers buffer against rising electricity prices and grid outages.
Senegal Airlines was bad business and it needed to go down. Senegal has withdrawn the operating license of its national carrier Senegal Airlines, which has accumulated 65 billion CFA francs ($110 million) in debt and no longer owns any planes.
Investors are not happy with Nigeria over its forex policy; most transact business using parallel market rates. “Whilst the official naira exchange rate continues to be stable, a lack of availability at that rate is resulting in the majority of dollars being purchased at a premium of 50-70 percent,” says PZ Cussons Plc.
Empowering the black South Africans. South Africa issued a draft plan that intends to compel mines to ensure that black people hold at least 26 percent of their shares even after those stakes were sold.
Forget what you read; investors are still crazy about Nigeria. At a time Nigeria’s policy on foreign currency controls are believed to be discouraging investments, Vantage Capital, Africa’s largest mezzanine fund manager has provided $20 million funding to Landmark Africa, one of Nigeria’s leading property developers.
It’s been two years since over 200 Nigerian girls were kidnapped by terrorists; they are still missing. Since then, the number of children involved in ‘suicide’ attacks in the country and neighbouring countries Cameroon, Chad and Niger has risen sharply, from 4 in 2014 to 44 in 2015, according to a UNICEF report. More than 75 percent of the children involved in the attacks are girls.
South Africa wants to revive its economy; carmakers will help. South Africa is in talks with five vehicle manufacturers about a proposed new assembly plant in the port city of East London, a potential boost for an industry that’s using government incentives to attract investment from companies including Ford Motor Co. and BMW AG.
Zimbabwe is not broke; it just bought a company it does not need for $40m. “This acquisition is localising an international entity it is going to be a Zimbabwean entity,” says Information Communications Technology Minister Supa Mandiwanzira.