EABDC by Cedar Events » June 12, 2014

Daily Archives: June 12, 2014

Africa News

World Bank to support Kenya in 5-year plan

Published by:

Diariétou Gaye

The World Bank has endorsed a five-year strategy to help Kenya achieve its national development blue-print.

A loan facility of 348 billion Kenyan shillings has been approved.

The development strategy is set to aid Kenya flourish in its efforts to boost economic growth sustainably, create more jobs for the youth, improve infrastructure, and devolution in order to fight poverty and manage social diversity.

“While Kenya has grown on average at 4.6 per cent annually over the last decade, poverty and inequality have fallen less dramatically which has prevented many Kenyans from sharing in the benefits of the country’s strong economic performance,” the World Bank said in a statement. Continue reading

EABDC

Bitcoin for the poor

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Bitcoin

Cash transfers in Africa

THE affluent Midrand area of Johannesburg is about to make history. By the end of June a local company, ZABitcoinATM, hopes to install Africa’s first Bitcoin ATM. The machine will allow clients to insert local cash and change it into the crypto-currency minted on the internet, to be used at nearby businesses which have joined the scheme.

Up to 80% of African adults have no bank account, but at least 16% use mobile-money platforms. The continent annually receives $50 billion in remittances, which are subject to fees of up to 12% charged by wiring services like Western Union. If one could improve internet access and provide immediate conversion into local currencies, entrepreneurs speculate that Bitcoin might be able to undercut remittance services. Zach Harvey, the chief executive of Lamassu, the ATM’s manufacturer, could train his sights on companies like Western Union. Continue reading

Africa News

The amazing spirit amongst Africa’s tech entrepreneurs

Published by:

Jason Njoku

You think you have seen them all until you see more of them. Solutions that you thought had been long employed. Innovations that you thought had long been exploited. The DEMO Africa Innovation Tour across the continent was an eye opener. Last week we were in Ghana. Be sure to apply before coming Sunday, June 15th.

The startups came in numbers and ready to impress the judging panel, which comprised decision makers from top companies in Ghana and other global players including Google. From Citizen Eye, a social enterprise that aims at tracking oil money with an aim to empower citizens to hold the government accountable, to Kitiwa a startup bringing Bitcoin to Africa. Continue reading

Africa News

East African Energy-Boom Investments Take Focus in Budgets

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Petroleum Exploration

Kenya, Uganda and Tanzania plan to allocate money in their annual budgets to spur investment in infrastructure to exploit oil and natural gas from deposits that companies including Tullow Oil Plc (TLW) are developing.

Ugandan and Kenyan oil discoveries, made in 2006 and 2012 respectively, and new gas finds off the coast of Tanzania that have boosted reserves to as much as 46 trillion cubic feet have seen East Africa become a frontier for petroleum exploration.
Continue reading

Africa News

Zimbabwe’s Emerging Tobacco Queens

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Tobacco-farmer

Harare — Madeline Murambwi sits behind the wheel of her brand new Toyota Land Cruiser, threading her way through the traffic in Zimbabwe’s capital, Harare. She’s on her way back from the tobacco auction floors where she just pocketed thousands of dollars.

“Tobacco farming is a brisk business here. Before joining it, I didn’t realise men were making lots of money out of this leaf. I have made great economic strides in my life,” Murambwi tells IPS, adding that she now also invests in property.

“So far I have made 42,000 dollars through tobacco sales, with more sales to come,” says Murambwi, 47, who has a 32-hectare tobacco farm in Zimbabwe’s Mashonaland East Province.

In 2012, Murambwi ventured into tobacco farming and her business continues to grow each season. Continue reading

News

3 Smart Hiring Lessons From Hillary Clinton’s New Book

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hillary-clinton-george-mitchell

You have young stars in your organization, frontline or midlevel employees who are already informal leaders. If they continue on their talented trajectories, they’ll one day join the ranks of your top team. Many businesses train these promising pups by giving them so-called “stretch” goals or assignments: Tasks that are slightly above their current skill levels, based on the idea that they’ll learn by doing.

Nothing wrong with that. But while reading Hillary Clinton’s new memoir, Hard Choices, I was struck by how she’d taken something of the opposite approach with some of her key early hires as Secretary of State. Rather than entrusting young stars with “stretch” assignments, Clinton hired established leaders–people with enough credentials to be Secretary of State themselves–to deliver on high degree-of-difficulty tasks.

In other words, she gave stretch assignments not to promising young stars, but to highly credentialed leaders. Continue reading

News

How to Be Way More Productive

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Wake-up

Wake Up With More Energy

Many people feel tired in the morning not because they didn’t sleep enough but because they have low blood sugar. You can minimize this by consuming a tablespoon or two of unsweetened almond butter before you go to sleep. It’s a very simple way to stabilize your blood sugar. (I’ve tested this by having a continuous glucose monitor implanted in my side.) Right away, a lot of people will go from feeling groggy to feeling extremely alert when they wake up. Continue reading

News

Things To Do Instead of Innovating

Published by:

stepping-on-lightbulb

Invest In Employees

How important are happy employees? More than you might imagine. David Sirota, co-author of The Enthusiastic Employee, found that businesses with high morale outperformed industry counterparts by 20 percent; those with moderate or low morale underperformed peers by about 5 percent.

Encourage Efficiencies

Don’t underestimate the cumulative impact on your bottom line of encouraging employees to make improvements in areas they understand. Continue reading

News

The Secret to Building a Startup That Stays Nimble

Published by:

HBS

The question caught me by surprise. I was working as an IT manager at a large consumer electronics company in Minneapolis at the time. My days were spent looking over budget reports (ho-hum), scanning over project management summaries (blah) and either preparing for or writing performance evaluations (dull as paint). In short, I was really bored.

“Sure,” I told my boss at the time.

Anyone who knows me will find out quickly that I own a Taylor acoustic guitar and a Fender Telecaster. I have (almost) every song by the band Manchester Orchestra memorized. Joining an impromptu team to start a record label? I’m there. Continue reading

Africa News

Africa’s women entrepreneurs take the lead

Published by:

Janet Nkubana

KAMPALA, Uganda (AP) — Madinah Nalukenge recalls the day she set out to sell food on the filthy edges of a bus terminal in the Ugandan capital in 2004. She had just $10 left over from a failed attempt to sell bed sheets.

Now she runs a catering business that makes a monthly profit of up to $3,000, a source of pride for the 34-year-old single mother who spends her days offering plates of mashed plantain and greasy meats to transport operators in downtown Kampala. Continue reading