Friday October 09: Weekly Business Top Ten Reads
1. Calls To Regulate Air Travel In Africa
African air traffic safety and security experts are calling for more investment to guarantee safe air travel on the continent. Africa accounts for barely five percent of global air traffic but reported 20 percent of accidents and fatalities in 2014.
Source: Voice Of America
2. Bidding Wars In SA Brewery Takeover
SAB Miller has snubbed three takeover proposals as too low, including a potential offer of $100 billion, despite support for the overture from its largest shareholder.
3. The Internet's Potential In Africa
If Internet access achieves an impact on the same scale as mobile has in Africa, it could account for as much as 10% of total GDP by 2025, up from 1%. It's influence on the continent could see the rise of more jobs and innovations.
Source: New Africa Business
4. East Africa Gets Faster Internet
SEACOM launched the first broadband submarine cable system along the East African coastline linking South Africa, Tanzania, Kenya and Mozambique with major Internet connection hubs in Europe and Asia. SEACOM now delivers these services over last-mile access through leading connectivity partnerships in various regions.
5. Search Begins For Africa's Innovators
Established by the African Innovation Foundation in 2011, the Innovation Prize for Africa targets technological solutions in five main areas: manufacturing and service industry, health and well-being, agriculture and agribusiness, environment, energy and water and ICT.
6. Facebook To Reach Remote Parts Of Africa
Facebook will be using satellites in order to give people in large parts of remote Sub-Saharan Africa access to the Internet. AMOS-6 is scheduled to become operational in the second half of 2016. The AMOS-6 is a geostationary satellite whose Ka-band spot beams will provide broadband Internet to individual users and communities using affordable equipment.
7. Juba's First Brew
South Sudan is the continent's newest coffee producer, the east Africa country will export the flavorful bean to Europe, starting it's limited edition capsules in France. The country hopes to rival its neighbours in making money from the commodity, however security challenges still pose a threat.
Source: The Guardian
8. Egypt's Housing Plans On Hold
Plans to build a million homes by 2020 in Egypt are now on hold. This comes after a $35 billion deal between the Egyptian government and Arab Investors stalled.
9. Zimbabwe's Economy To Be Indigenised By 2018
Zimbabwe's minister of youth development, indigenisation and economic empowerment, Patrick Zhuwawo, has reportedly said the southern African country will have an "indigenised" economy by 2018.
Source: The Citizen
10. Ten Percent Of SA's Population Controls 60% Of The Economy
French economist Thomas Piketty says in order to address financial inequalities in South Africa, government needs to ensure that companies pay they fair share of tax. More than 50% of Africa's financial assets are held in offshore accounts depriving the continent of its resources.
Source: Mail & Guardian