Africa - Afrikan Heroes

This Zimbabwean Entrepreneur Has Just Launched Europe’s First Self-Driving Delivery Vehicle

July 17, 2019

African entrepreneurs are never leaving any stone unturned. Zimbabwe’s William Sachiti and his team at the Academy of Robotics have launched Europe’s first roadworthy self-driving delivery vehicle, “Kar-go” which aims to reduce the cost of last-mile delivery by as much as 90 percent.

In the first week of its launch, Kar-go has been hosted by the Duke of Richmond and praised by both the Duke and Zimbabwean dignitaries including Zimbabwe’s Foreign Affairs Minister Sibusiso Moyo and Zimbabwe ambassador to the UK Christian Katsande.

A Look At Kar-go

Kar-go is a self-driving vehicle that works with the help of an app
Recipients of parcels can simply track their delivery and meet the vehicle at their preferred destination just like meeting a pre-booked taxi.
Recipients will then use the app to open the hatch of the vehicle to release their specific parcel.
Inside the vehicle, a patented package management system will sort and re-shuffle packages on the move.
Powered by Tesla batteries, Kar-go can drive at 60mph and cover around 120 miles before it needs re-charging — around the same distance as an average delivery driver covers daily.
Traveling at up to 60mph, the vehicle has been developed in collaboration with the UK’s vehicle licensing authority, the DVLA, to travel on the roads.
As part of the vehicle’s development, Sachiti “trained” the Kar-go technology to operate on roads in Zimbabwe.

Academy of Robotics founder and CEO, William Sachiti explains how the vehicle works:

“There are some great delivery robots out there, but most of them are designed to run on neat pavements or sidewalks of grid-like cities. We want Kar-go to be universally applicable, so we have trained our technology in a number of different environments and of course, for me, Zimbabwe was a natural choice.”

Kar-go has already attracted significant interest in investment from China, the UK, Australia, Germany and Switzerland and the Academy of Robotics is in discussions with a number of retailers and logistics companies with commercial trials for Kar-go on the roads in the UK planned in the next few months.

Sachiti, adds:

“We have had a number of very promising conversations with potential partners and investors and we are confident that Kar-go will be on the streets in a few months with a series of trials with high street retailers and logistics brands to follow. We are very grateful for the support we have received both in the UK and from the Zimbabwean community.”

An Emblem of the Future.

This electric, self-driving vehicle, Kar-go has since been selected by the team curating FOS Future Lab for the Goodwood Festival of Speed (FOS) as an emblem of the future.

The Festival of Speed is an annual event dubbed motorsport’s ultimate garden party, as it takes place on lawns and paddocks of the Duke of Richmond’s Goodwood estate.

The Duke hosts motoring enthusiasts from around the world who flock to see the latest concept cars to classics.

Festival Of Speed Future Lab is the Duke of Richmond’s latest addition to the Festival of Speed and has become a centerpiece of the event.

The Man Behind This Unique Concept Vehicle is Zimbabwean-Brit, William Sachiti, From Harare.

Having exited his first start-up (123-registration) at 19, team leader William Sachiti (34) has since founded and exited 3 businesses including Clever Bins, a business he pitched aged 24 on the BBC Dragon’s Den show.

Before he turned his attention to AI and robotics his last business, MyCityVenue was acquired by Secret Escapes in 2015.

During his visit to the UK, Minister Moyo together with ambassador Katsande made time to meet Sachiti.

The dignitaries inspected the Kar-go vehicle at an exclusive reception and hosted by the Westbury Mayfair hotel in the prestigious Mayfair district where William was speaking at an event on the future of transport alongside leaders from the automotive industry.

At the reception, organized by Conrad Mwanza and the Zimbabwe Achiever Awards (ZAA) team, the party discussed the Kar-go technology and William and the team’s work to make the technology internationally applicable.

The reception was supported by British-Zimbabwean businessman Byron Fundira, an early investor in the Kar-go project, who was introduced to fellow ZAA winner by Conrad Mwanza.

Sachiti who moved to the UK aged 17 remains close to his family back in Zimbabwe and frequently returns.

The Academy of Robotics

The Academy of Robotics is a UK-headquartered self-drive car manufacturing company, founded by William Sachiti with a technical team of engineers, scientists, and researchers. The Academy specializes in creating technology to perform or simplify complex tasks.

Combining the best techniques from machine learning and mechatronics the Academy builds powerful self-adapting machines and task-specific artificially intelligent software.

Starting out of a university campus in Wales, the Academy of Robotics now has offices in London, Brighton, and Wales and has successfully filed several patents for its autonomous technology.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Liberian Businesses Have Just Got A New US$20M Fund

July 16, 2019

Businesses in Liberia now have a new pool of funds to tap from. The Overseas Private Investment Corporation (OPIC), the United States government’s development finance institution has just approved a second facility of US$20 million for the Liberian, Enterprise Development Finance Company (LEDFC), a Liberian state-owned corporation established in 2007 to provide loans to Liberian- owned Small and Medium Enterprises (SMEs).

A Look At The New Funding

This new funding just added to the existing funds within the disposal of the LEDFC.
The new facility will encourage qualified Liberians SMEs to apply for funding.
Under the terms of the new facility, the facility will be used to lend to Liberian owned small and medium businesses.
An additional US$16 million will come from other sources to increase the lending pot to US$36 million, according to Dr. Papa Kwesi Nduom, CEO of Groupe Nduom, a Multinational Family Holding Business of Ghanaian and American origin comprising of over 60 independent companies across several industries.
OPIC is a self-sustained US Government agency that helps American businesses invest in emerging markets.
Established in 1971, OPIC provides businesses with tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances US foreign policy and National security priorities.
OPIC is a financial institution that has over the years helped American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at homes and abroad.

“OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers.”

Since its establishment, LEDFC has invested more than US$28 million over 500 small and medium enterprises and created more than 500 jobs in the Liberian economy, says Dr. Kwesi Nduom.
LEDFC has financial inclusion as a priority and hence has three additional offices outside Monrovia.

“Up until the middle of June 2013, there was growing concern that the company would not survive because majority of loans were not performing. Groupe Nduom was contacted by CHF and OPIC due to its in-depth experience and knowledge in financial matters in the sub-region” noted Nduom

How Liberian Businesses Can Obtain Funding Under The Scheme

LEDFC provides flexible credit opportunities to small and medium scale businesses that are starting, rebuilding, or expanding their operations, including:

Sole Proprietorships
Partnerships
Corporations
Registered Cooperatives

Liberian businesses desirous of obtaining funds under the scheme should:

be Liberian-owned (min. 51% ownership) and registered
have a capable and experienced management
have a collateral requirement of at least 1.4 times the loan amount
plan to create jobs with loan proceeds

LEDFC loans range from US$10,000 to US$1,000,000. LEDFC works with clients to determine an appropriate loan size according to their unique needs and repayment capacity.

The level and type of security required will depend on the loan term, the business, and the borrowers’ credit history and references. Acceptable collateral includes:

Equipment
Assignment of receivables and contracts
Real property (including land, buildings)
Assignment of Insurance on assets
Pre-signed checks
Pledge of corporate stock
Sales Assignment

Documents required to procure the loans include:

Completed Loan Application
Business Plan
Financial Statements (Last 2 Years)
Cash Flow Projections for the project and debt service period (include underlying assumptions)
Credit References
Copy of Business Registration
Bank Statements (past 12 months)
Details of all existing debt and obligations
Staff Verification
CVs of owners & key managers
Copies of passports and/or national identification of owners

LEDFC offers two products, designed for evolving and expanding the business activity of Liberian companies at every phase of their development:

Short Term Loans

These loans (6 to 23 months) are geared towards working capital and other short-term needs.

Medium-Term Loans

Medium-term loans (2 to 5 years) for investments in equipment and other productive assets.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Logistics of the 2019 Total Africa Cup of Nations

With Africa’s premier soccer tournament now underway in Egypt, the continent’s top teams are fighting it out for a position in the finals and the ultimate honour of winning the Total Africa Cup of Nations 2019. Along with the teams comes a massive influx of fans and spectators, joining local people going about their daily business and putting a big strain on transport nodes. That’s being alleviated in Egypt, and Cairo especially, with transport solutions from Thales.

The 2019 Total Africa Cup of Nations is the 32nd edition of the tournament which takes place every two years. Organized by the Confederation of African Football (CAF), it takes place from 21 June to 19 July 2019 and features 24 teams from across Africa.

With more than 50,000 tourists expected to join regular traffic in the cities across Egypt where matches are taking place, Cairo Metro network is playing a crucial role in keeping the tournament moving. Football fans from all over the African continent are using Cairo Metro Line 3 to reach the Stadium station to watch their national teams compete. Thales has supplied the Revenue Collection System (RCS) and Integrated Communications and Security (ICS) solution for this line, contracted back in 2007.

In fact, three additional stations were put in service, ahead of the first match, specifically to aid increased demand from fans and citizens alike. And while looking after fans is an obvious priority for the duration of the football tournament, citizens deserve the most convenient, easy-to-use and practical solutions to keep everyone moving freely.

That’s where Thales technology shines. With a longstanding record of providing fully integrated solutions for the city’s Metro owner, National Authority for Tunnels (NAT), the company first engaged with NAT when it first introduced Line 1 in 1981. From that day forward, Thales has become the partner of choice for the supply of both Revenue Collection Systems (RCS) and Integrated Communications and Security systems (ICS) for all Cairo Metro Lines.

The expertise which has helped support an improved standard of urban services for the Egyptian people is, in effect, being leveraged so that all football fans and citizens are able to buy tickets and get to their destinations safely and smoothly without encumbrance.

Back in 2016, Thales was awarded for the supply of 850 gates for Cairo Metro Line 1 and Line 2, which is another sentiment for the company’s commitment in supporting its Egyptian customer.

With a doubling of the number of passengers carried on the line expected, safety is as always paramount. But at the same time, solutions which drive efficiency are essential so everyone can get their ticket and take their seat on time.

It’s an exciting time in Egypt right now, and not only because of the sizzling soccer. Development of new metro lines is being powered by some of the world’s foremost technology and expertise. And that means a great experience for football fans—and lasting value for citizens long after the Cup is hosted by one of Africa’s best football team.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

TECNO Phone Wins Africa Information Technology & Telecoms Awards (AITTA)Phone of the Year 2019

TECNO SPARK 3, a smartphone model by TECNO, a global premier mobile phone brand, has been awarded as the smartphone brand of the year at the 2019 edition of the Africa Information Technology & Telecoms Awards (AITTA).

AITTA recognizes customer service, innovation, and excellence in Africa Telecom and Information Technology industry. The reputable awards now in its third year and has been acclaimed as one of the most prestigious and biggest platforms recognizing excellence and innovation in the African telecoms and technology industry.

TECNO SPARK 3 was awarded as the phone of the year as a result of its cutting edge features as well as its outing market outing positive reception of the TECNO brand loyals and customers. This is the only smartphone recognized by AITTA this year. As one of the most remarkable devices to “light up” the photos, SPARK 3 have been upgraded by AI technology to furthermore advanced the camera features to be available in Africa, middle-east and Southeast Asia market.

Starting their business from the Africa market in 2006, TECNO has been Africa’s leading smartphone brand and was the first dual-SIM handset supplier to the African continent, which boosted an astonishing 53% of all Smartphone sales in Africa in the year 2011. Focusing on providing high performance and cutting edge smartphone that uses the latest technology and at a sweet price point, TECNO smartphones have become incredibly popular throughout Africa due to the exceptional value-for-money they offer.

TRANSSION, TECNO Mobile ’s parent company, its brand portfolio comprises leading mobile phone brands in emerging markets. In 2018, TRANSSION sold 124 million mobile phones globally.

IDC figures for 2018 show that TRANSSION ranks 4th in global mobile phone brands and holds the largest market share in Africa. Their global sales network covers more than 70 countries in emerging markets including Nigeria, Tanzania, Kenya, Ethiopia, Egypt, India, Pakistan, Indonesia, Vietnam, and Bangladesh to name a few.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

African Energy Chamber visits Famous Slave Hub of Goree Island, Senegal

Goree Island which was a huge slave holding facility at the centre of the European slave trade from the sixteenth century until 1848.

The importance of this historical site has made it a Mecca of sorts for those who want to connect with Africa’s past, to understand some of the historical dynamics that brought this continent where it is today.

The recent group to visit the site are businessmen from across the continent of Africa under the auspices of the African Energy Chamber and several oil executives who took time off their conference in Dakar for a symbolic visit to Senegal’s Goree Island today, southeast of the capital Dakar.

Goree Island was a huge slave holding facility and at the centre of the European slave trade from the sixteenth century until 1848, when France abolished slavery. Countless African slaves passed through the island for centuries on their way to the US, Haiti, and Cuba. The oldest building on the island, the House of Slaves, is a reminder of the inhuman conditions in which African slaves were treated for over three centuries. The whole island was inscribed on the Unesco World Heritage list in 1978.

“Slavery was a sin and a crime against humanity. The Chamber is looking forward to working with various African civil society groups to fight issues of modern-day slavery. It starts with us creating an environment where all are treated with fairness, love, and equity,” said NJ Ayuk CEO of Centurion Law Group and Executive Chair of the African Energy Chamber during the visit.

Oil executives were told how slaves were chained at the neck and arms with a heavy iron ball attached. Many of the slaves were released just once a day from their cells which measured just 2.6m by 2.6m, each containing between 15 to 20 men. The ill and the dead were thrown into the sea for the sharks to feed on.

Families were split up with women and children each being kept in a separate part of the slave house. For young women, there was one means of escape. Any that became pregnant by the slave masters were released either on the island or in the town of Saint Louis.

“Visiting Goree Island should remind us that slavery continues when we shrink civic freedoms, encourage legislation that stifles dissent, stand idly by on rising populism that has stirred xenophobia, limit opportunities for Africans and women in oil and gas and put a blind eye on African families that continue to earn unworthy wages,” added Ayuk.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

News Startup Space in Africa Raises Fund To Expand To Five African Countries

Even in the face of stiff economic situations, startups in Africa are busy sealing rounds of investment. Everything from FinTech to agrictech, to cleantech to newstech. Space in Africa, a news and research startup that covers the rapidly growing African space economy which has already seen eight nations launch 35 satellites in the last two decades — and 15 satellites in just the last 4 years, has successfully completed its seed funding round.

Although the terms were not disclosed, the startup plans to use the funds to hire additional reporters and analysts to expand coverage for its subscription news service and specialized industry reports.

Investor funding into online media upstarts like Buzzfeed, Vox and Business Insider, jumped to over $800M in 2014.

A Look At The Funding

The funding round was led by AC Ventures, the venture capital firm led by Adam B. Cohen, who has previously built and sold other research and news companies.

“I am proud to partner with Temidayo in evangelising the benefits of space applications to solve practical problems and create exciting business opportunities for Africans. As the cost of launch falls and satellites shrink, the most valuable resources now in the NewSpace arena are imagination and passion. Space is for everyone,” said Cohen of why AC Ventures invested in Space in Africa.

AC Ventures is an investment firm led by Adam B. Cohen. The firm invests in early-stage companies involved in the space industry and its enabling technologies. AC Ventures is the trade name of AC Ventures of Florida, LLC.
Cohen previously founded Covenant Review and Fulcrum Financial Data, which were acquired by Fitch Group, a unit of Hearst, in July 2018. Cohen is a serial entrepreneur and has also previously practiced as a lawyer, investment banker, and space and defense consultant. For additional information on AC

The overall surge in funding lifted the first half of 2010 to $11.4 billion in venture funding going into 1,646 deals — a 49 percent increase in dollars and a 23 percent increase in deals from the first half of last year when $7.7 billion was invested in 1,340 deals.

“Many people outside Africa are surprised to hear how significant the African space industry has become, and how the development of the industry has become a real priority for many nations and the African Union,” says Space in Africafounder, Temidayo Oniosun.

The GDP of the African continent has doubled in the last 10 years to over USD 2.2 trillion. Amidst this economic expansion, Temidayo, explains that:

“the African space market is now worth over USD 7 billion in terms of annually generated revenue, and we project that it is likely to grow by over 40% in the next five years to exceed USD 10 billion by 2024. There are thousands of people employed across the African space industry, and our local technology skills set is growing alongside international partners and home-grown NewSpace startups. African engineers are increasingly collaborating on satellite construction, while local innovators are providing new application solutions across communications, natural resources, and public services.”

“We now have reporters in Kenya, Nigeria, South Africa, Rwanda, and Tanzania who travel around the continent to cover all aspects of the market. We typically publish six to eight stories daily, and we just launched our Opportunities platform that lets you in on a wide range of new projects, open jobs, fellowships, and other prospects for gaining business and expertise. We want to be your first and best source for all information pertaining to the African space industry,” he added.

A Look At Space In Africa

Space in Africa is a media startup that focuses on news, data, and market analysis for the African space industry.
The startup is based in Lagos, Nigeria.
Space in Africa provides daily news and data analysis relating to the African space industry, and also offers proprietary research and consulting services.
The startup was founded by Temidayo Oniosun, who has been recognized as one of the World 24 Under 24 Leaders and Innovators in SPACE and STEAM by The Mars Generation and is one of the recipients of the 35 Under 35 Space Industry Recognition Award by the International Institute of Space Commerce.
The Space in Africa offers Space stories in English, French, Swahili, and Arabic.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Top Venture Capital Firms And Angel Investors For African Startups

July 15, 2019

For startups looking to get funding for their business, there have been histories of venture capital funds and angel investors who have been vibrant in all round funding of startups. One fact from one reports on startup funding so far is that there is plenty of money out there, from plenty of hungry investors.

Knowing who these investors are would help you streamline your search for investors for your startups and cut the long journey short. The most dollars are going into late-stage startups, followed by early-stage funding, then funding for technology growth and angel or seed series rounds.

Now find out who is handing out the cash.

This data shows who the active VCs are now, and who would probably be the best investors to pitch with your deck.

Active Lead Investors

According to data from Crunchbase here are the 10 most active lead investors.

Start-Up Chile

Insight Venture Partners

Tencent Holdings

New Enterprise Associates

Sequoia Capital China

Accel

Sequoia Capital

Higher Ground Labs

Quake Capital Partners

Goldman Sachs

Most Active Seed Stage Investors

When pitching, an important point is to be pitching so as to reach to those who are most likely to fund your type of round. The most active investors in seed rounds during the past 3 months are:

Startup-Chile

Hiventures

Crowdcube

Plug and Play

Innovation Works

500 Startups

Innova Memphis

Entrepreneurs Roundtable

Berkeley SkyDeck Fund

Quake Capital Partners

Top Early Stage Investors

For those, going for early-stage funding, consider these active players:

IDG Capital

New Enterprise Associates

Sequoia Capital China

Accel

Y Combinator

ZhenFund

Sequoia Capital

Matrix Partners China

Intel Capital

Index Ventures

Most Active Late Stage Investors

Interested in looking for a Series B or anything above for a growth stage round, the following firms have been the most active globally.

Sequoia Capital

Tencent Holdings

Insight Venture Partners

Bpifrance

Goldman Sachs

Bessemer Venture Partners

New Enterprise Associates

Khosla Ventures

Andreessen Horowitz

Sequoia Capital China

These Investors Have Been The Most Active In Africa, Whether Early, Middle Or Late Funding

Click here to view the list of good investors in African startups.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Nigerian Banks Fret Over New Directives on Loans

A new directive by the Central Bank of Nigeria (CBN) ordering banks to have a minimum loan to deposit ratio of 60% by the end of September 2019. The directive according to the Apex bank is intended to get the commercial banks to lend more to the real economy and buy fewer government securities.

Observers, however, differ on the impact of this directive with some expressing worries over the timing which they say could have a negative impact on asset quality.

Others are of the view that the move “may unintentionally result in a reduction of banks’ risk management criteria for loan extension and by extension a deterioration in asset quality. With a few calling for new policies designed to increase bank lending to follow.

Loan ratios at Nigerian banks shrank between 2016 and 2018 as slower economic growth and high yields on government securities prompted banks to load up on lower-risk assets.

The new move encourages lending to small and medium-sized businesses (SMEs), mortgages and consumer loans by overweighting these loans at 150%.

That aims to encourage banks to accept the risk of an increase in non-performing loans (NPLs). Consumer lending in Nigeria is hampered by lack of reliable household credit records and weak recovery enforcement, Moody’s says in a note on July 8.

Midsize banks with higher exposure to consumer and SME loans tend to have higher NPL ratios than large banks, according to Moody’s.

Banks that fail to meet the new threshold will have to pay half of the shortfall as an additional cash reserve requirement. Moody’s argues that banks will be forced to diversify their lending, so reducing concentration risk, and says that most have already complied.

On the banks most affected by this development, our findings show that Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Bank (GTB) and Stanbic are most affected as they have loan ratios lower than the threshold.

Ignoring the central bank’s weighting concession for lending to preferred sectors, Abimbola calculates that Zenith and UBA will both have to increase their loan books by over 350bn naira (870m euros, $970m) by September 30.

GTB and Stanbic will have to add 165bn naira and 30bn naira of new loans respectively, he says. That implies absolute quarter-on-quarter loan growth of 20% for Zenith. From experience, it is unusual for banks to increase their loan books by more than 10% in the whole year.

This could see downside risk on NPLs in the short term, which may prompt markets to start to pricing in negative headlines from the banks. Charles Robertson, a global chief economist at Renaissance Capital, says that a market-friendly option would be for the government to close its budget deficit.

This would force banks to lend to someone other than the government, he says. In the longer term, lower inflation would cut interest rates and encourage lending and borrowing, he argues.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Multichoice Africa and Real-Time Channels to Collaborate

As part of efforts to bring top quality entertainment programmes to Africa, Multichoice Africa, and Real-Time Channels have entered into an agreement to bring Africa’s Newest Entertainment Channel featuring exciting programmes based on Real Lives, Real Nature, Real Crime, Real Medical. Real Time’s cleverly-curated schedule and dynamic mixture of lifestyle and factual content will ensure audiences get their daily fix of real reality and must-see entertainment all in one channel.

On the DStv platform, Real Time will be available on the Premium, Compact Plus, Compact and Family packages on channel 155; and on the GOtv platform the channel will be available on the GOtv Max package on channel 12 (112 in Ghana and channel 312 in Uganda), allowing for more premium content to reach a wider spectrum of viewers on the continent.

Discovery Inc’s portfolio of channels has been serving passionate fans with content that inspires, informs and entertains with leadership across deeply loved and trusted brands.

“We are incredibly excited to present Real Time to an even wider audience in the market, and further expand and diversify our local portfolio offering,” said Amanda Turnbull, Vice President & General Manager for Discovery in Africa and the Middle East. “With an already successful suite of pay-TV brands, Real Time affords us the chance to bring our world-class content to even more audiences across Africa, in the form of a channel designed to provide much-needed ‘me time’ to the modern African woman and her wider family.”

“Multichoice is excited to welcome this new channel which will give viewers access a wide variety of compelling television shows from Discovery Inc. on our platforms,” said Yolisa Phahle, CEO of General Entertainment at MultiChoice Group. “We work hard to bring the best of what the world has to offer to viewers and plan to keep delivering content that our customers love at a price they can afford. Real Time is a welcome addition to the wide range of content available only on DStv and GOtv.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Market Integration holds the prospect of transforming African economies— Ekra

In this interview, Jean-Louis Ekra, former president of Afreximbank, spoke on the emerging Russia-Africa relations and the benefits of the Africa Continental Free Trade Agreements which was just signed by African leaders in Niamey, Niger, among other issues. Excerpts:

What are the prospects of African Continental Free Trade Area agreement hold for Africa’s development?

You know that Africa is a continent that trades the least with itself. There are benefits trading with your neighbours, like reduced costs and so on. The first thing that African countries will benefit from this agreement is the opportunity to trade with their neighbours by just opening borders. The second is that it will push countries to transform their usual commodities into manufactured goods. You need to have complementary products to trade effectively with your neighbours. So, it will be a good incentive for African economies to enter a process like AfCFTA that will help to transform their economies.

What is your view on the future of Africa-Russia relationship?

Africa needs to diversify its relationships for its own benefit. A diversified relationship protects one if one of many partners falls on bad times. So, it is important for Africa, from that perspective, to diversify its relationship. So the Russia-Africa relationship is welcomed in that context.

How best can Africa leverage on its relationship with Russia to bridge its infrastructural gap?

Russia, as you know, has advanced technology. In infrastructure, Russia is well known for power. It has capabilities in solar and hydropower energy that can be implemented in our continent. So, I think that it will be good for African and Russian private sectors to jointly develop those activities. Some are canvassing that Africa countries should bring home some of their foreign reserves held abroad for investment in Africa.

What is your view? There is an initiative that we launched in Afreximbank when I was there, which is ongoing. Yes, it is correct for Africa to try and use, as much as possible, its own resources, including external reserves. There is no reason the continent should be borrowing money when it has money in deposits in other places. Won’t it have an adverse impact on foreign exchange markets on the continent? No. It won’t. These reserves are backed by strong ratings of an institution like Afreximbank. You have currency in America or in Europe. If you have it in Africa it is still your own, So it should not affect your exchange rate.

On the event that this becomes a reality, which institution will warehouse the foreign reserves?

Foreign exchange reserves have to be held in a strongly rated institution because they are important assets of a country. So, AfDB can hold those reserves likewise the Afreximbank. In my view, these are the two institutions that can hold such a reserve.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.