Data centre first for northern Brazil
Brazil’s National Bank for Economic and Social Development (BNDES) has approved financing worth R$41 million (US$7.5 million) for Um Telecom, a B2B operator focused on Brazil's Northeast region, to deploy the first Tier III data centre in the State of Pernambuco. At more than 150 racks, the data centre, which will be located in the state capital Recife, will be the first large-capacity data centre with Tier III classification in Pernambuco. In Brazil, there are reportedly 87 Tier III facilities, of which 85% are in the Southeast region. In the Northeast region, Fortaleza (pictured above) has three units for commercial use and João Pessoa only one. As the president of BNDES, Aloizio Mercadante, points out, digital infrastructure is important for the development of the Northeast.
Source:The North Africa Journal
June 25, 2024 14:48 UTC
Morocco Central Bank First In North Africa To Cut Key Rate
By Enes MorinaMorocco's central bank cut its key interest rate Tuesday, making it the first north African central bank to lower borrowing rates in a sign of confidence that inflation had been tamed. Morocco's central bank cut its key interest rate to 2.75% from 3%, as headline inflation continues to hover just above zero. Capital Economics expects the key interest rate to fall by half a percentage point more by the end of this year. The Moroccan move comes nearly three weeks after the European Central Bank lowered its key rate for the first time since 2019. The rate cut in the eurozone--which is the country's largest trading partner--gave the central bank room to lower its own key rate, as the Moroccan dirham is pegged primarily to the euro.
Source:The North Africa Journal
June 25, 2024 13:42 UTC
Rwanda’s Ampersand partners BYD to collaborate on electrifying Africa’s transport system
The Kigali-based electric transport energy company Ampersand has partnered with publicly-listed Chinese multinational manufacturing company BYD to collaborate on the decarbonisation of Africa’s commercial motorbike transport system. Formed in 2016, Ampersand assembles and finances electric motorcycles that cost less to buy and operate, and perform better than the five million petrol motorcycle taxis in use across East Africa. The partnership with BYD will see Ampersand purchase BYD’s high-tech battery cells to build around 40,000 electric motorcycles by the end of 2026, with the long-term goal of electrifying a large portion of Africa’s 30 million commercial motorbikes. This will enable Ampersand to rapidly scale its electric fleet and its charging infrastructure, which is already the largest in Rwanda and Kenya. “BYD’s world-leading battery cells and manufacturing scale, combined with Ampersand’s deep customer insight and technical product knowledge will help fast track the electrification of Africa’s commercial motorcycles.
Source:The North Africa Journal
June 25, 2024 12:37 UTC
Launch Africa Ventures has invested $4.3m in 16 startups from its 2nd fund so far
Early-stage VC firm Launch Africa Ventures has invested a total of US$4.3 million in 16 startups from across the continent so far as part of its second fund, having made 133 investments via its first fund. Launched in July 2020 by Zachariah George and Janade du Plessis, with chairperson Margaret O’Connor also on the board, Launch Africa Ventures closed its its inaugural fund, Launch Africa Ventures Fund 1, in March 2022 at US$36.3 million, with investments from 238 retail and institutional investors in 40 countries. With Fund II, Launch Africa Ventures said it continues to “invest, grow and scale the continent’s top technology-driven ventures to become market leaders in their respective industries”. So far, the second fund has invested in 16 startups that align with its investment thesis on founder diversity, sector strength, market opportunities, and geographic reach, deploying US$4.3 million across 11 African countries to support these market-leading opportunities. The rest of the investments are Zambian prop-tech startup Bosso, DRC-based beauty startup Zuri, Ivory Coast-based e-health company Meditect, Rwandan e-health startup Viebeg, Ghanaian e-bike venture Wahu!, formerly MANA Mobility, and an Egyptian e-health startup.
Source:The North Africa Journal
June 25, 2024 12:06 UTC
What does Russia want in the Mediterranean? – GIS Reports
The Russian strategy in the MediterraneanRussia’s influence around the Mediterranean Sea has fluctuated over the years. September 2013: As Russia weighs intervening in the Syrian conflict, the Russian intelligence ship Priazove CCB-21, which belongs to the Black Sea Fleet, crosses the Bosporus Strait to get to the Mediterranean Sea. Control over the Mediterranean Sea has often appeared too far out of reach. But the arrangement did not last long and by 1961 the Soviet port was closed. Most likely: Russia moves forward in the Mediterranean In all likelihood, Russia will gain a greater foothold in the Mediterranean, as well as the Red Sea, thanks to Western unwillingness to stand in its way.
Source:The North Africa Journal
June 25, 2024 12:03 UTC
Alcazar Energy Partners invests $500m to launch the largest onshore wind farm project in North Macedonia
Alcazar Energy Partners, a leading investor in renewable energy within growth markets, announced today the launch of the largest wind farm project in North Macedonia with a capacity of up to 400 MW. This project represents a key step in the company’s goal to develop the largest renewable energy platform in the Western Balkans. Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy, said, “Alcazar Energy sees North Macedonia as a promising investment location for renewable energy. We look forward to collaborating with the government and stakeholders to build the country’s largest wind farm, significantly increasing its wind capacity. Hristijan Mickoski, Prime Minister of North Macedonia, stated, “We are standing ahead of the largest investment in renewable energy sources that we ever had.
Source:The North Africa Journal
June 25, 2024 09:27 UTC
South Africa Risks Losing Billions Pledged for Climate Finance
South Africa is risking a $9.3 billion climate finance pact by delaying the closing of a number of coal-fired power plants, a panel appointed by the country’s environment minister said. In an agreement known as the Just Energy Transition Partnership, South Africa won the bulk of the pledges from some of the world’s richest nations in loans, grants and guarantees in 2021. Eskom has said it has decided to postpone the decommissioning of three power plants — Grootvlei, Hendrina and Camden — until 2030. A unit in the South African presidency earlier this month made a presentation about the nation’s new plans to the World Bank-linked Climate Investment Funds, which is considering allocating $500 million to South Africa. South Africa generates about 80% of its electricity from coal and has the most carbon intensive economy of any of the Group of 20 nations, which compromises most of the world’s largest economies.
Source:The North Africa Journal
June 25, 2024 09:27 UTC
South Africa edge co-hosts West Indies to book semi-final spot
Chasing a revised 123 off 17 overs, South Africa stuttered to 110-7 as Roston Chase took three wickets, but they reached their target when Marco Jansen hit the first ball of the final over for six. Man of the match Tabraiz Shamsi took 3-27 after South Africa won the toss and restricted the West Indies to 135-8 at the Sir Vivian Richards Stadium in Antigua. All-rounder Chase top scored with 52, featuring in an 81-run third-wicket partnership with Kyle Mayers (35 off 34 balls) before giving the West Indies hope by taking 3-12 with his off-spin. Once Shamsi removed Mayers to a sliced catch at deep cover, a steady stream of wickets enabled South Africa to restrict the West Indies. “This is one batting performance we will try our best to forget,” said West Indies captain Rovman Powell.
Source:The North Africa Journal
June 25, 2024 04:02 UTC
How North Korea is capitalizing on Russia’s war woes
“North Korea can produce masses of cheap artillery shells, drones, and battlefield missiles. It holds that if an armed invasion of North Korea puts the country in a “state of war,” Russia will be required to provide military assistance “with all means in its possession” to North Korea “without delay” – and vice versa. It holds that if an armed invasion of North Korea puts the country in a “state of war,” Russia will be required to provide military assistance “with all means in its possession” to North Korea “without delay” – and vice versa. While the details of the treaty remain secret, that clause could effectively give North Korea shelter under Russia’s nuclear shield. “Russia and North Korea are largely … beyond giving any care to reputational concerns internationally.”
Source:The North Africa Journal
June 25, 2024 04:01 UTC
Infobip completes first RCS implementation in South Africa for Bob Group – Intelligent CIO Africa
Infobip recently achieved a significant milestone by successfully implementing a Rich Communication Services (RCS) channel for ecommerce platform Bob Group, making this Infobip’s first live RCS client in South Africa. Bob Group offers five services: Bob Shop, Bob Go, Bob Box, Bob Pay and Ship Logic. Building on their previous collaboration in SMS services, Infobip recommended adopting RCS messaging, a relatively new concept in South Africa. Transitioning to RCS significantly reduced operational costs for Ship Logic, as RCS is proving to be a more affordable channel than SMS. As Bob Group expands and innovates, integrating RCS across all its services will drive growth and enhance customer satisfaction.
Source:The North Africa Journal
June 25, 2024 01:54 UTC
MPOB calls for setting up of oil hub or redistribution centre in Egypt
Adobe StockThe Malaysian Palm Oil Board (MPOB) has called for an oil hub or redistribution centre to be set up in Egypt to build on recent cooperation between the two countries, the New Straits Times reported. “By leveraging Egypt’s strategic position and ability to re-export to neighbouring countries, Malaysia can consider establishing a hub for Malaysian palm-based downstream products at one of Egypt’s major ports,” Dr Kadir told Business Times. The proposed hub in Egypt would serve as a vital link in the distribution chain, ensuring timely delivery of palm oil products to markets in the Middle East and North Africa, the 6 June report said. “This can also encourage small quantity imports by Egyptian industry members directly from Malaysian exporters, thus eliminating the additional cost of dealing with a third party,” Dr Kadir added. For this reason, he said the Malaysian oil palm industry could consider investing in bulking facilities in Egypt to gain market share in this region.
Source:The North Africa Journal
June 25, 2024 01:02 UTC
Roxanne Dunbar-Ortiz: We Must Understand Israel as a Settler-Colonial State
This experience as a teenager was my introduction to the concept of settler colonialism and made me a supporter of Palestinian self-determination and right of return. Their support for Israel was emblematic, I came to understand later, of the seductive mythology that settler-colonial states cultivate and depend on. Although there are stark differences and time frames for the establishment of settler colonialism, there is a common thread that defines the process. Though the apt term “settler colonialism” wasn’t invented until rather recently, the practice of settler colonialism dates back many centuries. After its founding, the new United States used the same settler-colonial tools to seize the rest of the continent within a century.
Source:The North Africa Journal
June 24, 2024 23:08 UTC
SSA captures 12% of global impact investment flows, Report finds
Sub-Saharan Africa accounts for 12% of global impact investment flows, according to a report released on June 7, 2024, by the Foundation for Studies and Research on International Development (FERDI). The report highlights the lack of a unanimous definition of impact investment in literature, noting that this type of investment is based on two key concepts: intentionality and additionality. The creation of impact investment funds was halted or significantly slowed by the COVID-19 pandemic. Medium-sized impact funds (between $1 million and $250 million in assets under management) account for over 50% of the total funds listed. Impact funds are nearly absent in the hydrocarbons sector, and large telecommunications companies, and generally do not target mature businesses.
Source:The North Africa Journal
June 24, 2024 22:10 UTC
T20 World Cup: South Africa secures semifinal spot with thrilling victory over West Indies
In a gripping Super 8 clash at the Sir Vivian Richards Stadium, South Africa edged past the West Indies by three wickets to secure their place in the T20 World Cup semifinals for the first time in a decade. The victory, powered by Marco Jansen’s crucial late-game heroics, also marked the end of West Indies’ campaign in the tournament. The decision proved fruitful as their bowlers delivered a collective performance, restricting the West Indies to a modest 135 for 8. The start of the innings was shaky with Andre Russell taking two quick wickets, leaving South Africa at 15 for 2. The top team from Group 1 will face England, while South Africa will challenge the second-placed team from Group 1.
Source:The North Africa Journal
June 24, 2024 21:52 UTC
Hazrat Ibrahim's (AS) Social Reforms to End Child Sacrifices
As per the book of Genesis it was his son Hazrat Isaac born to Hazrat Sarah who was saved from the ritual of child sacrifice. Given the fact that the eldest child was as a practice sacrificed, therefore it would have been Hazrat Ibrahim. In fact the actual purpose of Hazrat Ibrahim was to end the ritual of child sacrifices among the people of his time, so he substituted the ram for his son. Thereafter, the people of Israel began to follow the tradition of Hazrat Ibrahim to perform the animal sacrifice. However, as mentioned above the people in many parts of Africa, Europe and Asia continued the human sacrifices even after Hazrat Ibrahim abandoned the child sacrifice.
Source:The North Africa Journal
June 24, 2024 21:39 UTC