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Old August 11th, 2019, 11:48 PM   #26621
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Quote:
Originally Posted by ekema View Post
the "others" is the FAO. that data references the FAO as the source and authority. and the FAO has 2 uses of the term as ive posted.

how would you measure the amount of total fertile land in a nation? what's the metric
Doesn't matter who the others is, if you quote a specific study you go by what that specific study defines itself as.As I said that's very basic research skills.Misrepresenting data and insisting endlessly that you're right because another article said something different, does a number on your credibility.

You can keep this going on for as long as you like hoping that fact changes but it wont.

The arable land figures in that article shouldn't be conflated with fertile land figures, simple.
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Old August 12th, 2019, 05:36 AM   #26622
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Old August 12th, 2019, 05:56 AM   #26623
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Lender’s remorse? China finds Africa projects require a growing wave of debt forgiveness

Perhaps yielding to growing criticism over its lending practices in Africa, China is writing off or restructuring debt for an increasing number of African countries in financial distress.

China’s embassy in Kenya said that Beijing was ready to help heavily indebted African countries ease their debt burdens.

“If some African countries encounter difficulties to repay Chinese loans, we will have bilateral consultations with them and take flexible measures according to international practice and market principles,” the embassy said.

Critics warn that Beijing may be ensnaring nations with unsustainable debts through its signature trillion-dollar infrastructure and development programme, the Belt and Road Initiative.

Beijing dismisses the claims as groundless, saying that no country faces a crisis because of its cooperation with China.

Embassy spokeswoman Huang Xueqing said some countries may face difficulties in repaying their debts but noted that each country’s situation was different, the causes were complicated and involved many factors and different parties.

Without disclosing the amount, in April Beijing wrote off the interest-free loans Ethiopia owed China at the end of 2018.

Ethiopia has borrowed more than US$13.7 billion from China between 2000 and 2017, according to the China Africa Research Initiative at the Johns Hopkins School of Advanced International Studies.

Ethiopia, China’s second-largest African borrower after Angola, also received relief when Beijing extended the repayment period from 10 years to 30 years for a US$3.3 billion loan it had taken on to build its Addis-Djibouti railway line.

This year, China cancelled Cameroon’s US$78 million debt. Last year, it wrote off Botswana’s US$7.2 million debt and US$10.6 million that Lesotho owed. In 2017, it cancelled US$160 million of debts owed by Sudan.

And the recent deal to restructure debt owed by the Republic of Congo helped unlock US$449 million from the International Monetary Fund (IMF). The central African nation’s troubles can be traced to mid-2014 when, because of global oversupply, crude oil prices fell from a high of US$100 per barrel to as low as US$30. Oil sales account for more than 70 per cent of the government’s revenues.

However, debt levels soared to 118 per cent of Congo’s annual economic output by 2017. With a deep hole in the country’s finances, it was China that stepped in to help.

China holds more than a third or US$2.5 billion of the Congolese debt, which stands at about US$9 billion. Since 2017, the Republic of Congo has been trying to get financing from the IMF to revive its economy. The IMF demanded that the country restructure its Chinese debt as a precondition for a three-year extended credit facility programme. China’s decision to restructure the debt is in response to the IMF demand.

Zambia, Angola, Mozambique and Djibouti are said to be currently engaged in similar negotiations with China.

https://www.scmp.com/news/china/dipl...equire-growing
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Old August 12th, 2019, 06:51 AM   #26624
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Quote:
Originally Posted by Kenyan_yungin View Post
Doesn't matter who the others is, if you quote a specific study you go by what that specific study defines itself as.As I said that's very basic research skills.Misrepresenting data and insisting endlessly that you're right because another article said something different, does a number on your credibility.

You can keep this going on for as long as you like hoping that fact changes but it wont.

The arable land figures in that article shouldn't be conflated with fertile land figures, simple.
sidestepping like a mug. if it doesn't matter who the "other"s are, why did you raise it. The articled cited to the FAO and i went to the FAO and showed you how its used by them. of course since they used it just as I did, you flee grab onto issues that are not in dispute.the recognized authority on this matter has in every study ive posted used the definition as I have.

anyway, what is the fertile land in the DRC. comparison of the fertile lands between the two countries was the issue. you say arable land is 7m in the DRC. is the 80m by the FAO incorrect?

and, for the 3rd or so time, how do you measure fertile land and wha is the number in the drc
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Old August 12th, 2019, 07:29 AM   #26625
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Quote:
Originally Posted by ekema View Post
The recognized authority on this matter has in every study i've posted used the definition as I have.
Obviously that's a blatant lie considering the data you shared in the post below is from that recognized authority.. FAO and no that's not the definition they had a very clear disclaimer.


Quote:
Arable land (in hectares) includes land defined by the FAO as land under temporary crops (double-cropped areas are counted once), temporary meadows for mowing or for pasture, land under market or kitchen gardens, and land temporarily fallow. Land abandoned as a result of shifting cultivation is excluded.

Quote:
Originally Posted by ekema View Post

https://www.indexmundi.com/facts/ind....HA/map/africa


No country even comes close to 50% of the stock nigeria holds. arable land here is used as a proxy for fertile land and countries can increase their stock.

Even in the world Nigeria is top ten even though it is the smallest or second smallest country on the list.
Incorrect.
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Old August 12th, 2019, 08:09 AM   #26626
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For the sake of the other forumers who simply want to get on with African Business News, that's about as many times as I can clarify the same thing...unless necessary.
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Old August 12th, 2019, 12:46 PM   #26627
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this guy isn't reliable his been spreading fake news for years
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Old August 12th, 2019, 03:24 PM   #26628
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Old August 12th, 2019, 03:42 PM   #26629
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The market has already downgraded South Africa to junk

Moody’s Investors Service hasn’t said it, but investors already think it: South Africa’s credit is junk.

The company, which rates South Africa’s debt Baa3, the lowest investment level, is due to review its assessment in November. Given Eskom Holdings SOC Ltd.’s financial woes and its implications for government debt, the market is pricing in a downgrade.

These three charts show how traders view the country’s fiscal outlook:



The premium investors demand to hold South Africa’s dollar bonds rather than U.S. Treasuries is almost twice as much as the average for investment-rated emerging markets.

It’s also wider than the spread for Brazil, which has a non-investment grade rating from Moody’s, S&P Global Ratings and Fitch Ratings. The risk premium has climbed since mid-July, when the government announced it would increase borrowing to support Eskom.



South Africa isn’t benefiting from the global hunt for yield. While average local-currency yields for emerging markets have been falling, South Africa’s have been rising.

The premium of South African yields over developing-nation peers is now at the highest since February. That suggests investors are positioning for fiscal deterioration, and a credit downgrade.



https://businesstech.co.za/news/busi...frica-to-junk/
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Old August 12th, 2019, 04:01 PM   #26630
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Quote:
Originally Posted by Kenyan_yungin View Post
For the sake of the other forumers who simply want to get on with African Business News, that's about as many times as I can clarify the same thing...unless necessary.
You should take your own advice. Your trolling isn’t informative
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Old August 12th, 2019, 04:04 PM   #26631
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More African countries are looking to tax mobile money transactions



More African countries are looking to tax mobile money transactions

Much has been written about the need for African countries to collect more tax revenue from citizens and businesses. The IMF has been imploring sub-Saharan countries, particularly over the last decade, to focus on expanding and diversifying their tax bases.

Some countries have taken heed of the advice. Yet most haven’t moved beyond lip service.

When it comes to new taxes, we often see African governments (especially those led by new administrations) setting their sights on commodity players like mining companies and oil multinationals.


Now there’s also a growing trend of governments looking to their fastest-growing sector of the past two decades: the mobile phone industry.

In most countries, phone companies and mobile operators already pay taxes. The more recent trend is to initiate or raise specific mobile consumer taxes—particularly for devices and transactions.

Just over a year ago, Uganda’s regulators introduced a so-called social media tax and a levy on mobile money transactions. Uganda is not alone: Industry research from 2017 shows up to 26% of the taxes paid in the mobile industry in 12 Sub-Saharan countries were industry-specific.

https://qz.com/africa/1685571/africa...e-money-taxes/
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Old August 12th, 2019, 04:06 PM   #26632
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Ethiopia’s financial reforms hold promise for its diaspora business community

Ethiopia’s parliament this week passed a bill to allow members of the Ethiopian diaspora, who have taken up nationalities in other countries, to invest, buy shares, and set up lending businesses in the country’s state-dominated financial sector.

It’s the latest step in a general push to liberalize the country’s economy. The government has previously said it will privatize Ethio Telecom, the state-owned telecommunication monopoly.


Since Ethiopia does not allow citizens to have dual nationalities, the latest round of reforms is seen as good news for the country’s 5 million-strong diaspora community as well as Ethiopians with foreign nationalities living inside the country.

The government has been eyeing overhauls to the financial sector, along with other sectors, since Abiy Ahmed’s appointment as prime minister. But authorities, including the head of the country’s central bank, have previously claimed liberalization of the sector could take “some years”, and called for preparation ahead of any full-scale effort that might create an influx of international banks, and hurt local lending practices.

Some see the opening up of the financial industry to the country’s diaspora community as a trial run for its eventual full liberalization, a move that excites Ethiopian investors abroad. “It will be great for both the country and diaspora community to be able to invest in the whole financial sector,” says Kassy Kebede, founder and managing director at Cepheus Growth Capital, a New York-based Ethiopia focused private equity fund.

https://qz.com/africa/1684528/ethiop...s-to-diaspora/
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Old August 12th, 2019, 04:09 PM   #26633
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Jumia’s shares have dropped below its IPO price as speculators and shorts hover

Four months after a landmark launch on the New York Stock Exchange, Jumia—the largest e-commerce operator in Africa—has crashed below its IPO price.

After launching its IPO at $14.50 per share, the mid-point of its initial share price range, Jumia’s shares reached an all-time low of $14.02 before recovering to close at $14.57 on Monday Aug. 5. By Tuesday morning New York time, it continued to fall by 1.7% to $14.31.



The price dip comes after a weak run for most of July which resulted in a downward price trend and several days of consecutive losses. The trend suggests that the stock price is unlikely to rally with more trades below its IPO launch price imminent.

That outlook contrasts sharply with Jumia’s early-day run on the New York Stock Exchange given a strong opening fortnight amid the novelty of its listing as the first major Africa-focused tech company on the exchange. At one point in the period, Jumia’s shares were trading at three times its IPO launch price, matching predictions from investors well versed in backing e-commerce companies that Jumia would be subject to high interest.

https://qz.com/africa/1681874/jumia-...tock-exchange/
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Old August 12th, 2019, 04:10 PM   #26634
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SA Trade Mission on Week-long Visit to Zambia

A number of South African companies will today begin a week-long trade mission to Zambia that is expected to deepen relations with the southern African country.

“South Africa and Zambia share strong bilateral relations with total trade amounting to R33 billion last year. South Africa’s main exports to Zambia include machinery and mechanical appliances, base metals, mineral products, products of the chemical or allied industries, plastics and articles thereof, vehicles, aircraft, vessels and associated transport equipment,” said Trade and Industry (DTI) Deputy Minister Nomalungelo Gina.

The Outward Trade and Investment Mission aims to facilitate market access and expose South African companies to the Zambian market while deepening bilateral trade relations.

The DTI is positioning South Africa as the preferred trade and investment partner for Zambia, as the country seeks to address its triple economic challenges of poverty, inequality and unemployment through its diversification strategy as outlined in Zambia’s 7th National Development Plan.

“South Africa and Zambia share strong bilateral relations with total trade amounting to R33 billion last year. South Africa’s main exports to Zambia include amongst others, machinery and mechanical appliances, base metals, mineral products, products of the chemical or allied industries, plastics and articles thereof, vehicles, aircraft, vessels and associated transport equipment,” said Gina.

Most importantly Gina says the mission is expected to produce possible collaboration between business people that will benefit both countries.

The mission will include trade and investment seminars, targeted business-to-business meetings and sector specific site visits.

Participating companies include those in infrastructure such as roads and rail, bridges, ports, built environment professionals; energy; steel fabrication and steel tubing; as well as mining and capital equipment.

The participating companies are funded by the dti through its Export Market and Invest Assistance scheme (EMIA).

https://zambiareports.com/2019/08/12...-visit-zambia/
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Old August 12th, 2019, 04:12 PM   #26635
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The rand is now the worst-performing currency in the world: analyst

The rand was weaker on Monday morning (12 August) as political uncertainty and a bleak economic outlook continued to weigh on the local currency.

The currency hit its lowest level since September 2018 last week, with weak data, worries about the impact on the economy of heavily indebted state-owned energy firm Eskom and negative commentary from credit rating agencies piling pressure on the currency, Reuters reports.

“The long-term objective is still the 2016 highs of R17.90 but the more immediate target will be the 2018 highs of R15.69, which could materialise this week,” Standard Bank’s chief trader Warrick Butler said in a note.

“Volatility has of course picked up massively over the last three weeks and the rand is now officially the worst performing currency globally since this mess started in the middle of July.”

The rand is now testing the R15.30 mark, with all eyes still squarely on investor sentiment hinging on trade dynamics and global growth, says Bianca Botes, treasury partner at Peregrine Treasury Solutions.

“Donald Trump’s comment on Friday that trade talks with China due to start on 1 September might be cancelled, after also having announced additional tariffs on China, is adding pressure to the fragility of investor sentiment,” she said.

“Trump also made it clear that the US is in no way ready or willing to make a deal at this stage but that if talks continue it will be on an open basis.”

The rand started Monday trading at R15.25/$, R17.09/€ and R18.36/£. The general consensus is that the rand is oversold at these levels and that a retracement is on the cards, said Botes.

“The only question, however, is whether the global geopolitical environment will allow for this correction.”

https://businesstech.co.za/news/fina...world-analyst/
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Old August 12th, 2019, 04:34 PM   #26636
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this guy isn't reliable his been spreading fake news for years
Well neither is the government at this point who just stopped reporting.
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Old August 12th, 2019, 05:53 PM   #26637
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Nigerian, South African Presidents to Meet in October for Talks

Nigerian President Muhammadu Buhari will meet with South Africa’s Cyril Ramaphosa in October for talks on trade and the security of citizens, Nigeria’s presidency said.

Buhari accepted an invitation to visit the South African leader to discuss “recurrent issues concerning well-being of the Nigerian community in South Africa, and the need to promote trade and investment,” Garba Shehu, a Nigerian government spokesman, said in an emailed statement. A specific date wasn’t given.

Dozens of Nigerian have been killed in South Africa in anti-immigrant attacks, drawing outrage from the Nigerian Parliament in Abuja.
  • A bi-lateral commission will also be inaugurated during the visit tasked with implementing cooperation agreements on energy, transport and security made in 2016 during a state visit to Nigeria by former South African President Jacob Zuma: Shehu
  • NOTE: Nigeria and South Africa vie as the continent’s biggest economies, with trade between the two nations doubling to $4.5 billion in 2018 from the previous year, according to Bloomberg estimates

https://www.bloomberg.com/news/artic...ober-for-talks
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Old August 12th, 2019, 07:18 PM   #26638
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S&P: Rwanda Upgraded To 'B+' On Strong Economic Prospects
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Rwanda has demonstrated strong GDP growth and above-average growth trends per capita than peers. We expect high growth will be driven primarily by public investment, which will likely result in sizable fiscal deficits and rising government debt levels. Nevertheless, Rwanda's track record of delivering inclusive growth through government-financed projects and broader macroeconomic initiatives remains reasonably sound. We also anticipate that ongoing economic and developmental reforms will underpin gradually rising private sector activity (albeit from a low base) and sustain foreign direct investment inflows and remittances.
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Old August 12th, 2019, 09:05 PM   #26639
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Tanzania: PM Happy After State Efforts Increase Fish Availability



PRIME Minister, Kassim Majaliwa yesterday directed the Minister of Livestock and Fisheries, Luhaga Mpina, to carry on with efforts to oversee the protection of fishery resources in the country.

The premier said most of the operations to combat illegal fishing run by the ministry have brought substantial benefits and increased sales of fish out of the country, which enables the nation to start benefiting from the resources.

Speaking during the climax of Nane Nane exhibition at Nyakabindi grounds in Simiyu Region, Mr Majaliwa said the government's strategy, for now, is to optimize the management and control of fisheries sector in order to generate more income at the individual and national level.

"Now we have started to witness that the size of the fish is much bigger than in previous years, this is the result of several operations that we have conducted," he noted.

"But today the fishermen are relieved to see what we have gained through this operation, therefore I urge minister Mpina to intensify such operations in this area because they have a positive impact," said Mr Majaliwa.



He also directed the ministry to prepare a special program to raise public awareness on the type of nets to be used by fishermen to get rid of clashes between fishermen and the government on the matter.

Mr Majaliwa urged those who attended the exhibition to visit the fisheries pavilion to see the kind of fishing nets needed in all areas, including rivers, ponds, lakes and oceans.

Minister Mpina assured the Prime Minister that his ministry will continue to actively manage fishery resources and livestock as well as assure breeders and fishermen that the local market will be enhanced.

"The government is with you, and our duty is to protect the domestic market and address several challenges that hinder you to conduct your business appropriately," he said.

He said the fight against illegal fishing has enabled an increase in fish on the domestic market, so the decline in fish imports from overseas has reached 67 per cent, while exports increased from 379bn/-to 680bn/-.
https://allafrica.com/stories/201908120144.html
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Old August 13th, 2019, 08:36 AM   #26640
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Some interesting parallels between Ramaphosa and Macri...both pro-market reformers who are failing to turn around their economies. Yet Ramaphosa has no real chance of losing an election but still hesitant to enact more radical reforms. Internal struggles in the ANC and its own incoherent identity are blocking out any serious reform.

The Walls Are Closing In on Cyril Ramaphosa

When Cyril Ramaphosa succeeded Jacob Zuma as South Africa’s president, he promised a “new dawn” after nine years of misrule that hobbled the economy. Eighteen months later, hopes have dissipated that the former labor union leader can orchestrate a turnaround. The economy shrank the most in a decade in the first quarter of this year; 38% of the workforce can’t find jobs or have given up looking; d massive bailouts for the debt-stricken state power utility are draining the country’s coffers, putting South Africa at risk of losing its sole investment-grade credit rating.

Ramaphosa himself, a respected 66-year-old lawyer who led the negotiations that brought an end to white-minority rule in 1994, is stuck in a political quagmire. While he won control of the ruling African National Congress by a razor-thin margin in late 2017, members of an ANC faction loosely allied to Zuma remain entrenched in senior positions in the party and the state, undermining Ramaphosa’s authority and limiting his scope to tackle rampant graft and nepotism.

The president has axed several cabinet ministers with tainted reputations, replaced the chief prosecutor and head of the national tax agency, and revamped the boards and management of troubled state companies. His efforts to sweep the government clean helped steer the ANC to its sixth consecutive win in May elections. But his detractors in the party have continued to push back against his anticorruption crusade, which has eroded investor confidence. They’ve demanded changes to the central bank’s inflation-targeting mandate and advocated land seizures to address racially skewed ownership patterns dating to apartheid and colonial rule, when members of the black majority were largely deprived of the right to own property.

“A more forceful leader could have adopted a blitzkrieg strategy straight after the election victory and probably been victorious. But Cyril Ramaphosa is not such a leader,” says Robert Schrire, a politics professor at the University of Cape Town. By moving cautiously, the president may have ensured the stability of his government, but at the expense of his ability to effect change, Schrire says. “The opportunity has passed.”

Read more at: https://www.bloombergquint.com/busin...yril-ramaphosa
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