Misaligned reporting in African tech risks future funding, says new report
That is according to Wimbart, an award-winning PR agency specialising in business and technology sectors across Africa, which has released its second annual report – “Startup Performance Reporting in Africa: Aligning Startup and Investor Expectations. This disconnect creates ongoing challenges for investor confidence and highlights a gap between what founders report and what investors find valuable. “This year’s report takes a step forward by incorporating the voices of startup founders, opening up the dialogue. To address these gaps, the report outlines key recommendations to improve investor-startup relationships, including:Investors to communicate reporting requirements, cadence and expectations to founders; provide templates to help founders meet reporting expectations. To access the inaugural Investor Comms Report: “Startup Performance Reporting in Africa 2023”, click here.
Source:The North Africa Journal
October 11, 2024 12:19 UTC
75 migrants are rescued from a crippled boat crossing from North Africa to Europe
ATHENS, Greece (AP) — Greek authorities say a group of 75 migrants crossing to Europe from North Africa has been rescued from a crippled boat south of the island of Crete. The coast guard said Friday the migrants, who are believed to have set off from eastern Libya, were picked up in the Mediterranean Sea by a merchant ship after issuing a distress call. The long voyage from Libya to Crete has emerged this year as a new route for people from Africa, the Middle East and Asia to seek a better life in Europe. KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation. You can review our Community Guidelines by clicking hereIf you would like to share a story idea, please submit it here.
Source:The North Africa Journal
October 11, 2024 10:29 UTC
Economy Vulnerable to Middle East Tensions
A recent analysis by Fitch Solutions regarding the impacts of a broader war in the Middle East on the economies of various countries reveals that Greece’s economy is quite exposed to a potential escalation in the region. Describing the risks stemming from the Middle East and North Africa (MENA) region, the Fitch’s BMI report highlights that net oil imports from the region amount to 6.9% of its GDP, and energy accounts for 8.2% of the Consumer Price Index basket. It further stresses that Greece’s high public debt, exacerbates its vulnerability to economic disruptions related to oil supply and price fluctuations. Data shows that Greece’s dependence on Middle Eastern oil is the highest among developed economies, as is its reliance on exports to the Middle East and North African region. Specifically the Greek economy is considered the sixth most exposed, with a score of 34.6 points.
Source:The North Africa Journal
October 11, 2024 10:04 UTC
More than 230 migrants reach Greece in small boats, half via the long route from Libya
ATHENS, Greece (AP) — More than 230 migrants reached Greece in small boats over the past two days, including a rare case of a crossing from north Africa to Greece’s southern mainland, authorities said Friday. Nearly half the arrivals announced Friday were people who took a new route from eastern Libya that has emerged this year and is longer and riskier than the more common crossing from Turkey. The coast guard said 75 migrants who had departed from eastern Libya were rescued Friday from a crippled boat south of the island of Crete. The coast guard said Friday that 38 people who had left Benghazi in eastern Libya were found in southern mainland Greece — a slightly more distant destination than Crete. They were found Thursday, after spending two days crossing the Mediterranean.
Source:The North Africa Journal
October 11, 2024 09:22 UTC
Africa File, October 10, 2024: AUSSOM Challenges; Fano Counteroffensive; DRC Attacks FDLR; Mali’s Northern Challenges; Togo Border Pressure
Africa File, October 10, 2024: AUSSOM Challenges; Fano Counteroffensive; DRC Attacks FDLR; Mali’s Northern Challenges; Togo Border PressureAuthors: Liam Karr, Kathryn Tyson, and Yale FordData Cutoff: October 10, 2024, at 10 a.m.Editor's Note: The Critical Threats Project at the American Enterprise Institute publishes these updates with support from the Institute for the Study of War. Fano attacks have remained at consistent levels since the ENDF launched its campaign on October 1. Fano conducted 16 attacks targeting the ENDF from September 20 to 26, compared with 21 attacks from September 27 to October 3. Fano Attacks Targeting the ENDF in the Amhara RegionSource: Kathryn Tyson; Armed Conflict Location and Event Data Project. The main Jama’at Nusrat al Islam (JNIM) attack targeted the military base in Ber, beginning with three suicide vehicle-borne improvised explosive devices (SVBIEDs) followed by additional militants.
Source:The North Africa Journal
October 11, 2024 01:39 UTC
I was looking to connect with my late uncle’s spirit in North Africa — instead I fell in love
The UK Foreign Office subsequently deemed the whole country off-limits; the Tunis office closed and Uncle Tigs never saw Tunisia again. Although Tunisian wine is exported in great quantities to mainland Europe, it rarely reaches British shores, which is a terrible shame. Uncle Tigs never told me whether he came here but I am in no doubt that he did. Hammamet beach breakThe sandy beach in Hammamet GETTY IMAGESTunisia excels at spring and autumn sunshine, so look into a last-minute or early-bird booking in October or April. Details Three nights’ full board from £1,340pp, including transfers, guide and excursions including wine tastings (sawataste.com).
Source:The North Africa Journal
October 10, 2024 23:22 UTC
Mozambique early vote counting under way after peaceful election
Votes are counted first at each polling station and district results expected by Saturday could give an early indication of who is leading. Official results normally take around two weeks to be announced by the electoral commission. The winner will inherit an Islamist insurgency in the north that has halted multi-billion dollar gas projects and displaced hundreds of thousands of people. Other challenges include high debt levels and the economic impact of worsening cyclones.
Source:The North Africa Journal
October 10, 2024 21:59 UTC
Middle East & Africa Golf Bag Market Size & Outlook, 2030
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to golf bag market will help companies and investors design strategic landscapes. Stand/carry bag was the largest segment with a revenue share of 47.64% in 2023. Horizon Databook has segmented the Middle East & Africa golf bag market based on cart/trolley bag, stand/carry bag, tour bag, travel bag, pencil bag covering the revenue growth of each sub-segment from 2018 to 2030.
Source:The North Africa Journal
October 10, 2024 20:45 UTC
Project Dearth Slows S. Africa’s $9.3 Billion Coal Exit Plan
The JETP — a partnership between South Africa and Germany, France, the US, UK, European Union, Netherlands and Denmark — is being emulated by Vietnam and Indonesia. South Africa currently relies on coal for about four-fifths of its electricity. Denmark is looking for projects to invest in, Elsebeth Søndergaard Krone, Denmark’s ambassador to South Africa, said in an interview. It could be a hydro project, it could be investing in the grid if that’s feasible, depending on which models South Africa will use,” she said. “Its a difficult conversation,” David Martinon, France’s ambassador to South Africa, said of the energy transition.
Source:The North Africa Journal
October 10, 2024 19:08 UTC
Fitch Expects Morocco’s Growth to Reach 3% in 2024 & 3.5% over 2025-2026 Period – The North Africa Post
Fitch agency has maintained Morocco ‘BB+’ rating with a stable outlook thanks to the country’s sound macroeconomic policies, strong official creditor support, favorable debt profile and comfortable liquidity buffers. “We expect growth to average 3.5% over 2025-2026 on the back of normalizing agricultural output and sustained non-agricultural sector performance”, said Fitch in its latest report on Morocco. In 2023, Morocco’s deficit narrowed to 4.3% of GDP (5.4% recorded in 2022) owing to a decline in subsidy spending as a result of lower international gas prices. The rating agency expects net FDI to rebound to 0.8% in 2024 due strong investment inflow in the automotive sector. Fitch says Morocco enjoys political stability contrary to the recurring bouts of unrest rocking the Middle East and North Africa region, making the Kingdom an attractive destination for global investors.
Source:The North Africa Journal
October 10, 2024 13:26 UTC
Egypt’s inflation rate increases by 2.3% in September 2024 – The North Africa Post
According to the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s general consumer price index reached 236.5 points in September 2024, reflecting a monthly increase of 2.3 percent compared to August 2024. Notably, the cereals and bread category saw a 0.7 percent increase, while meat and poultry prices also rose by 0.7 percent. Other notable increases included fish and seafood prices, up by 1.7 percent; dairy, cheese, and eggs, which rose by 2.8 percent; and fruits, which increased by 1.7 percent. On an annual basis, Egypt’s inflation rate was recorded at 26.0 percent in September 2024, a notable decrease from 40.3 percent in the same month last year. The report also indicated significant sectoral changes, including a 16.3 percent increase in outpatient services and a 21.4 percent rise in hospital services.
Source:The North Africa Journal
October 10, 2024 13:26 UTC
Creating an offshore wind sector in SA
With more than a decade of onshore wind projects proving the technology’s viability, one has to wonder why South Africa would consider starting an offshore wind programme. Panelist Chris Lloyd, Offshore Wind Advisor at the World Bank, said preliminary findings of a study into building wind farms at sea suggest that South Africa has an ”excellent opportunity to deploy offshore wind at scale.”Once the report is released, a stakeholder engagement period will commence to socialise the study findings and key aspects of the next steps. The geographic spatial analysis identified opportunities to create around 95GW of offshore wind projects. South Africa and Morocco have greatest offshore wind energy potential in AfricaIf a low-growth scenario of setting up a few projects with no government planning is followed, that could eventually result in around 5GW of offshore wind energy projects by 2050. Andretta Tsebe, PetroSA’s General Manager responsible for gas-to-power and green energy projects, explained that offshore wind and offshore gas projects tend to require the same infrastructure at sea.
Source:The North Africa Journal
October 10, 2024 13:04 UTC
The destructive power of Hurricane Milton in 3 images
The destructive power of Hurricane Milton in 3 imagesNasa Hurricane Milton was the fifth most intense Atlantic hurricane on record by central pressure (Credit: Nasa)These images show where Hurricane Milton's power came from, and some of the risks faced by those in its path. Nasa Earth Observatory Between 6 and 7 October, Hurricane Milton gained strength from hot ocean waters below (Credit: Nasa Earth Observatory)A hurricane forms when a weather disturbance, like a thunderstorm, pulls in warm surface air from all directions. Hurricane Leslie, in the bottom-right hand corner of the image above, and Hurricane Kirk, towards the top-right, formed a trio of storms on 6 October as Hurricane Milton was gaining strength. "We started out with the earliest category five hurricane on record, Beryl, but then had an extremely quiet climatological peak of the Atlantic hurricane season." Florida is currently undertaking its largest evacuation effort in years, while still dealing with the aftermath of Hurricane Helene.
Source:The North Africa Journal
October 10, 2024 12:23 UTC
ST Engineering Antycip launches North Africa’s first VR CAVE
ST Engineering Antycip has delivered the first VR CAVE in North Africa – and only the second in Africa. The CAVE will also be accessible to educational institutions across Tunisia, providing students with hands-on, technology-driven learning opportunities that foster practical skills and innovation. Chaouki Friaa, president and chief executive of Zarzis Business Park, said: "This VR CAVE will provide a unique immersive space that will attract residents of all ages, strengthening social bonds within the community. "It will also serve as a powerful tool for education, offering immersive simulations for practical learning across a wide range of fields. "By introducing this advanced technology, we aim to inspire innovation and encourage younger generations to engage with careers in technology and creativity."
Source:The North Africa Journal
October 10, 2024 12:21 UTC
UN-Sahara: Elected Sahrawis cross swords with Pro-Polisario supporters ahead of UN Security Council meeting – The North Africa Post
Morocco’s autonomy plan is an opportunity to leave behind the painful past and open a new page, he said, adding that it grants the local Sahrawi inhabitants important privileges enabling them to manage their own affairs. Mrs. Vivian Eads of NGO Capitol Hill Prayer Partners also commended Morocco’s autonomy plan, deploring the lamentable situation of youth in the polisario-controlled Tindouf camps and the lack of options for their future. Several other speakers sounded the alarm bell over the education of children in Tindouf camps, among them Michelle Mason, who said the UN must “defend the children” there. Underscoring the need to focus on a political solution through compromise, he voiced full support for the Moroccan autonomy initiative, which is in line with the UN Charter, Security Council resolutions as well as international law. The initiative “provides the inhabitants of the Moroccan Sahara with major political, economic and social prospects”, he said, voicing concern about the human rights situation in the Tindouf camps.
Source:The North Africa Journal
October 10, 2024 12:21 UTC