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Moscow-based Renaissance Capital (RenCap), an emerging markets investment bank, is on a mission to build its footprint across the African continent. The person leading that charge is Clifford Sacks, former CEO of Merrill Lynch South Africa.
Sacks, who is currently RenCap’s CEO of South Africa and head of Pan African Equities, recently spoke to Africonomist editor David Dankwa about the bank’s investment interests and priorities in Africa and why he thinks the continent is poised to become an important growth factory globally.
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Senegal’s President Abdoulaye Wade led a delegation of his government’s ministers to Chicago this past week, where they met with some 90 businesses. The four-day trade mission was part of President Wade’s year-long celebration of Senegal’s 50 years of independence and was designed to bring additional foreign investment to the West African nation. read more...
On June 30th of this year, in Kinshasa, in the Democratic Republic of Congo (DRC), Belgian King Albert II stood alongside 39-year-old Congolese President Joseph Kabila to celebrate the country’s 50 years of independence from Belgium. The two men watched solemnly as the Congolese military paraded along the city’s main avenue, an avenue recently renovated with the assistance of Africa’s newest “best friend”, China. read more...
If you are headed to South Africa, Africa.com has a great deal for you -- a FREE local cell phone from Cell C. You can pick up the phone from a Cell C kiosk -- when you land at Johannesburg. A key Africa.com "Insider Tip" recommends that every visitor to South Africa have a LOCAL cell phone -- for your convenience and safety. Cell C will GIVE you the phone. You just pay about $40 for the minutes to talk locally.
Why is this a great deal? Other phone carriers ask you to put down a hefty deposit and worry about returning the phone at the airport when you are rushing for your return flight home. Cell C has eliminated that hassle. When the games are over, you can do whatever you want with the cell phone -- take it home, throw it away or donate it to a poor person who could benefit from having a phone. Whatever you choose to do, for just R275 (or about $40) Cell C will give you a basic Samsung E1080 phone, a SIM card with a South African phone number, and 250 rands worth of airtime in South Africa.
You will have just enough time to make a few important calls to confirm local arrangements, or even better yet, connect with the other members of your travel party if you get separated.
No kidding, for just $40 a person, everyone in your group should buy this package! You can use the phones instead of walkie talkies to make sure you don't get lost in the crowds! At the same time, you will have access to local emergency services should you need them. You can also give your South African phone number to family and friends back home so that they can always reach you.
There is no charge for incoming calls, so this is a very cost effective way for the folks back home to reach you -- instead of calling your own mobile number, and paying the hefty forwarding charges.
Remember -- to take advantage of this offer, you must visit the Cell C kiosk at the airport when you land.
Africa is the second-largest and second most-populous continent in the world, after Asia. Africa is about 30.2 million km² (11.7 million sq mi) including nearby islands, covering 6% of the Earth's total surface area and 20% of the total land area. With a billion people as of 2009 in 54 countries and territories, it accounts for about 15% of the global human population. Africa's population has rapidly increased over the last half century, and is relatively young as a result. In some Countries of Africa half or more of the population is under 25 years of age. The African population increased from 221 million in 1950 to 1 billion in 2009. Africa, specifically central eastern Africa, is widely regarded within the scientific community to be the origin of humans and the great apes, as evidenced by the discovery of the earliest hominids and their ancestors in the region, as well as later ones that have been dated to approximately seven million years ago with the earliest Homo sapiens (modern humans) found in Ethiopia dated to around 200,000 years ago. Africa straddles the equator and spans numerous climates; it is also the only continent to stretch from the northern temperate to southern temperate zones. Afri was the name of several groups who dwelt in North Africa near Carthage. Their name is usually connected with the Phoenician word for dust, but a 1981 theory argued that it stems from a Berber word for cave, in reference to cave dwellers. Under Roman rule, Carthage became the capital of Africa Province, which also encompassed the coastal part of modern Libya. The Roman suffix "-ca" means "country or land". The later Muslim kingdom of Ifriqiva in what is today Tunisia also preserved a form of the name.
The African continent (see also Africa Map) is surrounded by the Mediterranean Sea to the north, the Suez Canal as well as the Red Sea along the Sinai Peninsula to the northeast, the Indian Ocean to the southeast, and the Atlantic Ocean to the west. Not including the disputed territory of Western Sahara, there are 53 countries, including Madagascar and a number of island groups associated with the continent. Kilimanjaro, the highest peak in Africa and fourth highest of the Seven Summits, is considered the tallest freestanding mountain in the world, rising 15,100 feet (4,600 meters) from base to summit. It has three volcanic cones, Kibo, Mawenzi, and Shira, and is an inactive stratovolcano in north-eastern Tanzania. The Sahara ("The Greatest Desert" in Arabic) is the largest hot desert in the world. At over 9 million square kilometres (3.5 million sq mi), it covers most of Northern Africa, making it nearly as large as the United States or the continent of Europe. The desert stretches from the Red Sea in the East, including stretches of the Mediterranean coast, to the outskirts of the Atlantic Ocean. To the south, it is bordered by the Sahel: a belt of semi-arid tropical savanna that makes up the northern region of central and western Sub-Saharan Africa. The Sahara has a long and obscured history that may go back as far as 3 million years. Some of the sand dunes can become 180 metres (600 ft) in height. The name is derived from the Arabic word for desert. The desert landforms of the Sahara are shaped by wind or rarely by rains, and include sand dunes and dune fields or sand seas, stone plateaus, gravel plains, dry valleys, and salt flats. Unusual landforms include the Richat Structure in Mauritania. Most of the rivers and streams in the Sahara are not year-round, the chief exception being the Nile River, which crosses the desert from its origins in central Africa to empty into the Mediterranean. Underground sources of water sometimes reach the surface, forming oases.