South African startup Shesha aims to disrupt the established e-hailing landscape, largely dominated by international giants like Uber and Bolt, by providing a local alternative using its understanding of local conditions. This is according to spokesperson Nomsa Mdhluli, who told Disrupt Africa that the company was making safety concerns its number one priority. “Shesha verifies the identities of everyone on a Shesha trip from the customer to the driver, ensuring that they are indeed who they say they are. The startup is funded by numerous stakeholders including the Gauteng Taxi Industry Trust, Santaco Gauteng and the Gauteng National Taxi Alliance, which Mdhluli said gives it an “intimate understanding of local conditions”. The company is in the process of onboarding over 13,000 drivers, and claims its customer uptake has been “phenomenal”.

ICSID and Africa over 50 yearsPublished by: Robert Li at 03/07/2024Egypt and North Africa have the most experience of investor-state disputes on the African continent, but...Egypt and North Africa have the most experience of investor-state disputes on the African continent, but there is a long way to go before truly diverse and local representation becomes the norm for the international framework. The report entitled ‘50 years of ICSID Arbitration and African States (1974-2024)’ was published on 11 June and was prepared by Lagos, Nigeria-headquartered law firm GO Sodipo & Co. The report proves or debunks common notions on investment arbitration in Africa that may not always be supported by data”. “On the other hand, the report debunks the notion that ICSID Arbitration is skewed against African States. Our report shows that more awards have been given in favour of African states than the awards that were issued against African states by ICSID.

Ministry of Petroleum and Mineral Resources spokesperson Hamdy Abdel-Aziz said a vessel carrying a liquefied natural gas (LNG) shipment has arrived at the Ain Sokhna port. Egypt energy crisis: Shops to close earlier as loadshedding is extendedThe government announced recently that Egypt will import mazut and natural gas shipments valued at around $1.18 billion. According to the government, the gas supply interruption was caused by an unmentioned neighbouring country. The government also reduced the natural gas supply to fertiliser companies. Local media reported that last week, four of Egypt’s fertiliser manufacturers temporarily halted operations because of the gas supply shortage.

A flurry of new products catering to the female athleteDriving growth opportunities in women's sportswear is the increasing visibility of female athletes across a wide range of sports. The professionalisation of and investment in women’s sports has shown established sportswear brands (such as Nike and adidas) and challenger sportswear brands (such as On and Hoka) leveraging investment opportunities in women-focused sportswear. Tailoring sportswear offerings to align with women’s health and designing products around women’s bodies for female athletes, on both professional and amateur levels, are pivotal in remaining relevant in the evolving sportswear market. Whilst men’s sportswear remains the largest value segment in the sportswear market, growth opportunities in women’s sportswear cannot be negated. Sportswear sales were estimated at USD396 billion in 2023 and continue to outpace broader apparel and footwear growth.

CoinDCX, which previously invested in BitOasis in August, is among the most prominent crypto exchanges in India, boasting a user base of over 15 million and quarterly spot trading volumes of more than $840 million. A report by CoinGecko around a year ago ranked CoinDCX as the country's third-largest crypto exchange, with a 6.6% market share, behind Bitbns and WazirX at 79% and 11%, respectively.

Sudan’s paramilitary Rapid Support Force (RSF) took control of strategic towns as they advance on Port Sudan, where the Sudanese army and UN agencies are based. The advance marks an inroad for the RSF in its war with the Sudanese army, which broke out in April last year, with no end in sight. “We have liberated the 17th Infantry Division from Singa,” the capital of Sennar state, the RSF announced on X. The advance of the RSF in Darfur triggered warnings by NGOs of another genocide in the area, where hospitals and other civilian infrastructure has been destroyed. Some 2 million people have crossed the border to flee the ongoing civil war between the paramilitary RSF and the army, UNHCR said.

CoinDCX Acquires BitOasis: Expanding Crypto Reach in MENAShare on:By Rediff Money Desk, Dubai Jul 03, 2024 20:58India's CoinDCX acquires BitOasis, the leading crypto exchange in the Middle East and North Africa, expanding its reach and boosting crypto adoption in the region. Illustration: Uttam Ghosh/Rediff.comDubai, Jul 3 (PTI) India's crypto exchange CoinDCX has announced the acquisition of BitOasis, the Middle East and North Africa's leading virtual assets trading platform boasting the highest trading volume in Emirati Dirhams. Sumit Gupta, Co-Founder of CoinDCX, said the company aims to become the go-to trading platform for crypto worldwide. Since the start of BitOasis, trust and regulatory compliance have been a key pillar in our mission to drive crypto adoption across MENA. Rediff.com » Market News » CoinDCX Acquires BitOasis: Expanding Crypto Reach in MENADISCLAIMER - This article is from a syndicated feed.

Polymorph, a leading South African software product development consultancy, has been acquired by Octoco, a rapidly-growing group of technology companies based in Stellenbosch. Over the past 12 years, the company has established itself as a preferred partner for some of South Africa’s best-known brands. The company offers comprehensive engineering services, such as software development, hardware engineering and CTO support, and has also started investing in tech startups, such as Henlo Coffee, a company in its group which recently launched its machines in Vida e Cafe. Polymorph Systems has now been added to the Octoco Group of technology companies, in a deal that sees the well-established software product development consultancy become a sister company to Octoco Consulting within the larger Octoco Group. “We think Polymorph’s approach to software product design is exceptional and we are very excited to welcome them to the group,” said Heinrich de Lange, Octoco CEO.

The agreement was signed by Poul Hestbaek, CEO of Folk Maritime and Eng. Khalid Alhammad, President of Bahri Ship Management, to strengthen collaboration on technical ship management, crewing and ship building supervision, thereby contributing to the goals of Vision 2030 to build a robust logistics and maritime sector in Saudi Arabia that serves the region and beyond. This partnership with Folk Maritime Bahri Ship Management is one such critical step that we, at Bahri Ship Management, are determined to make a success through our immense expertise in the sector.”With two vessels in operation, Folk Maritime serves as a strong partner in driving feeder services along one of the world’s most pivotal shipping routes, the Red Sea. With support from Bahri Ship Management, the aim is to link Saudi Arabia to regional ports across the Middle East and North Africa. Folk Maritime aims to further expand its fleet strength through new purchases as well as building new vessels purpose-designed for regional trade.

Climate change’s outsized impact on North AfricaZaid M. BelbagiGlobally, North Africa is one of the regions most affected by climate change (File/AFP)Short Url https://arab.news/9aw49North Africa is one of the regions most affected by climate change globally, with summer temperatures predicted to rise by 4 degrees Celsius over the next 50 years. The challenges posed by climate change cut across sectors and, today, the region is both heating up and drying much faster than the global average. Water shortages have become a defining feature of the socioeconomic environment in North Africa in recent years. The loss of traditional nomadic communities is therefore leading to a notable cultural erosion in North Africa. North Africa’s contribution to global carbon emissions is meager, yet it faces an outsized impact as a result of climate change and global warming.

Lufthansa Group, the Italian Ministry of Economy and Finance (MEF) and ITA Airways have expressly welcomed the EU Commission's approval under competition law. Following the closing, ITA Airways is to become the fifth network airline to be closely integrated with Lufthansa Group while keeping its brand name ITA Airways. Lufthansa Group and ITA Airways are jointly planning a swift integration ITA Airways with its almost 5,000 employees will make the corporate culture of the Lufthansa Group even more international and diverse. Despite the comprehensive and far-reaching concessions, the investment in ITA Airways strengthens the Lufthansa Group's position in global competition. ITA Airways was founded in November 2020, started its operations on 15 October 2021 and currently has around 4,860 employees.

A Chinese cable manufacturer announced on Wednesday that it has supplied and assisted in the installation of 7,000 metres of submarine cables for a Transmission Company of Nigeria (TCN) project. ZMS Cable said the supply stage marks a crucial step to improve the energy infrastructure in Nigeria and address the nation’s growing energy needs. “The submarine transmission line project is a critical initiative aimed at strengthening power transmission capabilities between Osogbo and Olorunsogo. “For the Osogbo/Olorunsogo project, ZMS Cable participated in all stages, from structural design of submarine cables to packaging, transportation and advisory support for installation and construction.”Manufacturing of ZMS submarine cables. A Mr. Zhai, ZMS Cable project manager, said: “We are honoured to be part of this significant project that will improve Nigeria’s energy infrastructure.

And just as renewable energy projects in Africa face specific challenges related to financial instruments and inflation, hydrogen projects raise their own questions. So, at this point, even agreeing on the exact definition of green hydrogen is still up in the air. Of interestTurning hot air into green tradeMorocco wants to produce green hydrogen for both domestic use and export. Did you knowEngineers produce hydrogen from solar energy and animal manureWhat’s the effect of a green hydrogen economy for people on the ground? Policy, regulation, frameworks, riskSpecific industries, such as nitrogen-based fertiliser and creating green hydrogen for refineries, are all good and well, but transporting the green hydrogen creates storage and transport logistics problems that have not yet been explored or solved.

Morocco’s trade deficit narrowed by 1% from January to May to 117 billion dirhams ($11.7 bln), after exports rose to 191 billion dirhams, but still less than imports at 308 billion dirhams. The automotive sector topped Morocco’s exports at 67 billion dirhams, up 12%, auguring well for another record exports this year. Despite a drop in phosphoric acid earnings, Morocco’s exports of fertilizers and phosphates improved to 32 billion dirhams, up 5.2%. Morocco, which imports most of its energy products, reported a drop in energy imports by 5.2% to 49 billion dirhams. Tourism receipts were at a similar level at 41 billion dirhams, up 1.6%.

The Middle East and North Africa (MENA) region remains the least peaceful region of the world – a ranking it has held for nine consecutive years, according to the latest Global Peace Index (GPI) report. The conflict has also thrown the entire Middle East region into crisis, with Syria, Iran, Lebanon and Yemen becoming involved. Yemen is the least peaceful country in the region and the least peaceful country overall on the 2024 GPI. After Yemen, Sudan, South Sudan, Afghanistan, and Ukraine are the other least peaceful countries. Sub-Saharan Africa is the second least peaceful region of the world behind the Middle East and North Africa, with three of the ten least peaceful countries in the world found south of the Sahara.