Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Africa’

Facebook Looks to Build Underwater Ring Around Africa

Posted by hkarner - 9. April 2019

Date: 08-04-2019
Source: The Wall Street Journal

Plans for undersea cable, dubbed ‘Simba,’ are aimed at lowering its bandwidth costs and strengthening link to African market

Facebook’s project would give its European and Asian data centers a dedicated and reliable link to growing African markets.
Facebook Inc. is circling Africa. Literally.

The company is in talks to develop an underwater data cable that would encircle the continent, according to people familiar with the plans, an effort aimed at driving down its bandwidth costs and making it easier for the social media giant to sign up more users.

The three-stage project, named Simba after the lead character in “The Lion King,” could link up with beachheads in several countries on the continent’s eastern, western and Mediterranean coasts, though the exact route and number of landings is in flux, the people said. Den Rest des Beitrags lesen »

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The African Threat

Posted by hkarner - 25. November 2018

Date: 23-11-2018
Source: Project Syndicate by Dambisa Moyo

Dambisa Moyo is a global economist and author of four New York Times bestselling books. Her latest book, Edge of Chaos: Why Democracy is Failing to Create Economic Growth and How to Fix It, was published in April 2018.

Although international engagement with Africa has evolved over time, it has never succeeded in putting the region on a path toward long-term and sustainable growth and development. Today, continued failure could expose the world to a new age of pandemics, terror, and mass migration.

NEW YORK – If the world never had to hear about Africa again, would anyone care? Setting aside Africa’s cultural contributions, I suspect that for many people the honest answer is “no.”

Ten years ago, in my book Dead Aid, I highlighted how a narrative backed by international aid policy cemented Africa’s status as the world’s problem child, rather than one destined for greatness.

Over the years, false starts on the continent have led to cynicism and despair. Once a repository of progressive aspiration, Africa has become the source of some of the greatest threats to the global economic order. Rather than capitalizing on opportunities, international engagement is increasingly focused on mitigating risks. Den Rest des Beitrags lesen »

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Fortress Europe versus Eurafrica, that is the question

Posted by hkarner - 22. September 2018

Date: 20-09-2018
Source: The Economist: Charlemagne
Subject: Why Europe should focus on its growing interdependence with Africa

Sealing the Mediterranean will not work

IT IS a peculiarly modern habit to think of the Mediterranean Sea as a boundary. For over two millennia, civilisations bled across it and intermingled. Roman, Carthaginian, Moorish and Venetian empires expanded primarily along maritime routes. It took four days to get from imperial Rome to today’s Tunisia, but 11 days to reach Milan. The Sahara restricted contact between this Mediterranean Eurafrica and the regions to the south, but not entirely. A study of 22 skulls from Roman London found that four were African, for example. The medieval wealth of desert trading cities like Timbuktu and Agadez spoke of extensive north-south commerce. Later European colonialists penetrated, pillaged and parcelled up the continent; African troops fought in the trenches of the first world war; Europeans fought in Africa in the second.

Three subsequent events curbed this trans-Mediterraneanism. European powers left Africa with decolonisation; many African states sought to be neutral during the cold war; Europeans turned towards Asia’s booming markets as globalisation took hold. Tellingly, the geopolitical buzzword of the moment is “Eurasia”. Europe and Asia are integrating along old Silk Road routes, especially under China’s Belt and Road infrastructure splurge, yet “Eurafrica” remains relatively little discussed. Europe is too busy rushing into Asia’s arms to embrace a continent on its doorstep which may be even more significant in the long term.

Today’s waves of African migration are merely a prelude. Of the 2.2bn citizens added to the global population by 2050, 1.3bn will be Africans—about the size of China’s population today. And more of them will have the means to travel. Den Rest des Beitrags lesen »

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The African youth boom: what’s worrying Bill Gates

Posted by hkarner - 19. September 2018

Date: 18-09-2018
Source: The Guardian

The philanthropist warns that stability in Africa makes a huge difference to the world, and that investing in the health and education of its young people is vital

What worries Bill Gates most? The booming population of Africa looms over his foundation’s latest global survey. By the end of this century there will be 4 billion more people on Earth – and 3 billion of these extra souls will be born in Africa. The challenge, he says, is that “Africa must almost quadruple its agricultural productivity to feed itself. That’s very daunting.”

The philanthropist is torn between sending out a message of hope and a message of fear when I meet him at his foundation’s spacious campus in the heart of his hometown, Seattle.

He is reaching for what works best to revive the west’s faltering conscience in the face of “America first” nationalism and rising pull-up-the-drawbridge populism in Europe. The spirit of generosity is under assault as government aid budgets come under constant sniper fire from right-wing politicians and their media.

Half of the Bill & Melinda Gates Foundation spending goes to Africa. The funds put into the foundation by themselves and fellow philanthropist Warren Buffett now amount to more than than $50bn (£38bn). Until last year Gates, the Microsoft founder, was the world’s richest man. He has now been overtaken by Amazon’s Jeff Bezos.

Gates’ first instinct is optimism. Just consider the astonishing story of how far and how fast people have been brought out of abject poverty in a very short time. Since 2000, a billion people have been taken well over the line of $1.90-a-day wretchedness (£1.45), with the same uplift among those previously living on $3.20 a day.

The foundation’s report bursts with remarkable data – too few people know about the galloping progress of humankind. Take India, where only 18 years ago almost one in five children were not enrolled in primary school – now, 97% attend classes. Look at the indicators on the report’s global scorecard for the UN’s sustainable development goals for 2030, and most things are improving almost everywhere. But there is a marked variation in the future trajectory: progress depends on the level of future investment. Den Rest des Beitrags lesen »

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China möchte 60 Milliarden Dollar in Afrika investieren

Posted by hkarner - 4. September 2018

3. September 2018, 13:36 derstandard.at

Die Regierung in Peking verspricht Afrika enorme finanzielle Unterstützung. 15 der 60 Milliarden sollen „Hilfen und zinsenlose Kredite“ sein

Peking – Chinas Präsident Xi Jinping hat den afrikanischen Ländern die Finanzierung von Projekten im Wert von 60 Milliarden Dollar (51,7 Milliarden Euro) angeboten. Davon sollten 15 Milliarden Dollar Zuschüsse sowie zinsfreie Darlehen sein, sagte Xi am Montag zu Beginn des China-Afrika-Gipfels in Peking. Chinesische Firmen würden in den kommenden drei Jahren zehn Milliarden Dollar auf dem Kontinent investieren. Chinas Regierung hatte Vorwürfe zurückgewiesen, dass sie afrikanische Länder in eine Schuldenfalle und politische Abhängigkeiten locke.

Spürbarer Erfolg

„Die Zusammenarbeit Chinas und Afrika muss beiden Seiten messbare Erfolge bringen und dieser Erfolg muss spürbar werden“, sagte Xi. Chinesische Offizielle hatte betont, dass man vorsichtiger sein werde bei der Auswahl der geförderten Projekte. Sinnvoll seien Investitionen in Infrastruktur, nicht aber in „Eitelkeits-Projekte“, warnte Xi. Er ging auch auf die Kritik vieler afrikanischer Länder ein, dass China bei Großprojekten vor allem eigene Arbeiter beschäftige und wenig Know-how in den afrikanischen Staaten verbleibe. Xi sagte zu, dass man künftig mehr Menschen ausbilden und das Leben der lokalen Bevölkerung verbessern wolle. Den Rest des Beitrags lesen »

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More of Africa Finds Itself in China’s Debt

Posted by hkarner - 27. Juli 2018

Date: 26-07-2018
Source: The Wall Street Journal

Beijing’s widening economic and military footprint on continent raises concerns; President Xi Jinping secures host of deals on weeklong visit

NAIROBI, Kenya—Chinese President Xi Jinping has signed a slate of investment deals during a weeklong tour of Africa, feeding into concerns in the West and on the continent over ballooning levels of indebtedness to Beijing and its expanding political footprint.

Already Africa’s biggest single-country trading partner, China has become its biggest creditor, too. It holds at least 14% of the continent’s sovereign debt, having lent more than $100 billion to governments and state enterprises since 2000, according to the Washington-based Brookings Institution.

Mr. Xi started his trip on Saturday in Senegal, adding the West African country to the Belt and Road Initiative that will see China invest more than $100 billion in trade infrastructure in Asia, Europe and Africa. Den Rest des Beitrags lesen »

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Europe is sending African migrants home. Will they stay?

Posted by hkarner - 30. März 2018

Date: 28-03-2018
Source: The Economist

Facing horrible conditions in Libya, many Africans are accepting free flights home. But some are ashamed to return

ONCE considered the smartest hangout in town, the Benin Plaza motel in southern Nigeria’s Benin City has seen better days. Its chalet-style rooms are normally empty, and the Moat Bar, which promises “groovy nights and exotic cocktails”, has fallen into disrepair.

For the Plaza’s recent influx of guests, though, the motel is the first comfortable night they have had in rather a long time. Requisitioned by the government for migrants repatriated from Libya, it offers new arrivals free accommodation for a few days while they find their feet.

The repatriation programme is part of a joint UN and EU effort to stem the flow of migrants to Europe. It encourages those who have made it to Libya to go home voluntarily, rather than risk a rickety boat across the Mediterranean. People who turn back get a free flight—cutting out the need for a perilous return journey across the Sahara. Den Rest des Beitrags lesen »

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Africa’s Manmade Water Crisis

Posted by hkarner - 21. Februar 2018

Asit K. Biswas

Asit K. Biswas is Distinguished Visiting Professor at the Lee Kuan Yew School of Public Policy in Singapore and co-founder of the Third World Center for Water Management. He was a founder of the International Water Resources Association and World Water Council.

Cecilia Tortajada is Senior Research Fellow at the Institute of Water Policy, Lee Kuan Yew School of Public Policy, National University of Singapore.

The imminent shutdown of Cape Town’s piped water network should serve as a wake-up call for all of Africa to overhaul urban water-management systems. Unfortunately, like Africa’s water resources themselves, Cape Town’s crisis seems likely to be wasted.

SINGAPORE – About a decade ago, at a meeting of South African mayors convened by Lindiwe Hendricks, South Africa’s then-minister of water and environmental affairs, we predicted that an unprecedented water crisis would hit one of the country’s main cities within 15 years, unless water-management practices were improved significantly. That prediction has now come true, with Cape Town facing a shutdown of its piped water network. The question now is whether African leaders will allow our other projection – that, within the next 25-30 years, many more of the continent’s cities will be facing similar crises – to materialize. Den Rest des Beitrags lesen »

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How China Benefits from African Debt

Posted by hkarner - 30. Januar 2018

January 29, 2018, By George Friedman and Xander Snyder

The level of debt owed by African governments in countries such as Kenya, Uganda, Mozambique, and Tanzania has increased markedly since the 2008 financial crisis. Problematic though sub-Saharan African debt may be, debt levels vary country by country and therefore mitigate the possibility of a continent-wide crisis. Still, widespread default could create opportunities for outside powers that covet the region’s natural resources.

How It Happened

In the wake of the 2008 financial crisis, global interest rates were low, and money was cheap. Investors who sought greater returns turned to riskier investments, including African sovereign debt. Countries across the continent took on debt to fund infrastructure and other development projects. Countries such as Nigeria and Botswana still have debt burdens of under 50 percent of GDP—the level at which debt is generally considered high for developing countries. Other countries such as Mozambique and South Africa have debt burdens of more than 100 percent of GDP. Median public-sector debt in sub-Saharan Africa was 48 percent in 2016. Den Rest des Beitrags lesen »

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Read this quote !

Posted by hkarner - 17. Januar 2018

„Sub-Saharan Africa, with many traditions fostering large families,
is growing by about 80,000 people each and every day.“

( „Complexity: The Evolution of Earth’s Biodiversity and the Future of Humanity“ by William C. Burger)

 

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