No. 51 – 3AMReads: Mozambique and Ivory Persist and Attract Capital | African Development Bank Makes Case for Investing in Africa

Bloomberg: Traders Snap Up Assets of Nation Where Default Is New Normal

I’m not really sure what to make of this article. I wrote a several weeks ago about how I was nervous about hedge funds investing in countries like Mozambique. While the independent audit of the country’s finances seems to have given investors increased confidence in the country, are we certain Mozambique is rounding the corner in being able to make it’s debt payments? I’d hate to see this turn into a situation where investors just have more assets to play with in order to get their money.

Reuters: Ivory Coast says long dated Eurobond raised $1.25 bln, 625 mln euros

Despite the tensions with its military, Ivory Coast continues to attract capital. Good stuff.

African Development Bank: Adesina – Its time to reboot and boost US-Africa Commerce and Investments

The Corporate Council on Africa is hosting is US-Africa Business Summit this week. Is Commerce Secretary Wilbur Ross speaking at the Summit a signal that we’re a few inches closer to seeing the US start to roll out bits of an Africa policy?

 

No. 47 – 3AMReads: Akon Going Public | Robots Mess Up Development Formula | Don’t Sleep on Halal Tourism

Bloomberg: Star Rapper Akon Mulls IPO of Chinese-Funded African Solar Unit

I was surprised to see this news. Akon’s Lighting Africa project has gotten a good bit of media attention over the past several years. Perhaps, as time goes by, more information about the company’s financials will come out. I think a lot of people are curious to see them.

Axios: Robots could hobble developing countries

I’ve mentioned a few times my nervousness about the technological advancements society is making right now. I fear a sort of point-of-no-return where artificial intelligence, in particular, puts a wide gap between the developed and developing world. So, when I see pieces like this, my chest gets tight.

Perhaps alternatives to low-cost manufacturing serving as the path to development will emerge. The work startups like Andela are doing, for example, is quite interesting – developing technical talent and prepping them to work for global companies. The cost of hiring software engineers trained by Andela is much lower than hiring one in Silicon Valley. The problem is that as technology continues to advance, you need fewer and fewer engineers to reach scale with products. Andela just launched in its second country, Uganda, a few weeks ago. So, they are very much a wait and see case study.

How do you think African countries should navigate technological advancements like robots and artificial intelligence?

Quartz: The new growth industry in Africa is Muslim tourism

Several years ago, I traveled to a number of African countries with a group of Muslim entrepreneurs. It was a fascinating experience. The level of attention they paid to whether things were halal, making time for prayer, and other considerations was informative to be part of, and I could see how the tourism industry catering to Muslims could be lucrative.

 

No. 18: $14 Trillion Credit Insurance | Banks Going Extinct | Music for the Soul

  1. Why am I to believe that the market will take care of itself when I read about the conflicts present in a committee that drives much of what happens in the $14 trillion dollar credit insurance?

  2. Jalak Jobanputra put together an interesting piece on banks giving way to financial services technology if they do not figure out a way to remain relevant.

  3. NPR Tiny Desk concerts are like those new bite-size Hershey’s Reece’s Cups. Check out this strong performance by Christian Scott aTunde Adjuah.

No. 16: 3 Tuesday AM Reads – Davidson Grad Gets a Promotion |JP Morgan Has Plans for Africa | Gabon’s Energy Sector at 30,000ft

  1. I nearly clicked my heels when I saw the news of Amrote Abdella being named Regional Director of Microsoft’s 4Afrika Initiative, an effort for Microsoft to support economic development on the continent while finding new business opportunities. I’m a big fan of Amrote’s. Seeing Davidson alumnae killing it will never get old.

  2. What is getting old is American business news anchors not believing that there is opportunity to do business in African countries. See Stephanie Ruhle’s face during her interview with JP Morgan’s Jamie Dimon at the 25:40 mark. At least Stephanie listened. Check out this interview Trish Regan did with McKinsey Director, Acha Leke, last year.


  3. Interesting analysis of market headwinds Africa’s oil and gas industries face and how consistent regulatory policy could help mitigate the impact of dropping energy prices. Speaking of consistent regulatory policy, NJ Ayuk and his Centurion law firm, put out a guide to Gabon’s energy sector, including an explanation of its new hydrocarbons law.