Tag Archives: economy

Closing diversity gaps in patenting is essential to innovation economy

More than a century later, African American inventor Lonnie Johnson received a patent for his Super Soaker water gun, a toy that has generated more …
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African economy: the limits of ‘leapfrogging’

Kotiogo Ng’usilo vividly remembers the first time he saw a car. It was the 1950s and Mr Ng’usilo, a hunter-gatherer from the Ogiek tribe in Kenya’s Mau forest, thought it was a “moving house”.

These days, at 86, though he still tries to preserve a hunter-gatherer lifestyle, foraging for honey and secretly bagging the odd hyrax, he has moved with the times. He wears western clothes, buys food at the market and, like his younger relatives, uses a mobile phone. His story about the old days — which he recounts over sacred honey beer — is interrupted by incessant chirruping, not from birds but handsets bringing news to the forest from the city.

The rapid spread of mobile technology in the developing world — especially in Africa, which has lagged behind most of Asia and Latin…

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Jack Ma urges African entrepreneurs to take advantage of digital economy

JOHANNESBURG – Jack Ma, the founder of Chinese e-commerce giant Alibaba, on Wednesday encouraged young African entrepreneurs to take giant leaps in solving challenges facing the continent and take advantage of the digital economy, saying that opportunities lie where people complain.

Ma was speaking at the launch of the “Netpreneur Prize” initiative in Johannesburg. The initiative has been established to create a community of 1,000 young e-commerce entrepreneurs from developing countries years to receive grants totalling U.S.$10 million by 2030.

“When I started my company in 1994 people said, ‘Jack, you are telling a lie, there is no such thing as ‘internet’. You can’t register this company.’ To prove I was not a liar, I invited people to my room and we waited three hours to download the…

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COMESA will strengthen African integration of Tunisian economy: minister – Xinhua

TUNIS, July 20 (Xinhua) — Tunisia’s recent access to the Common Market for Eastern and Southern Africa (COMESA) will strengthen the African integration for Tunisian economy, Tunisian Minister of Commerce Omar Behi said Friday.

This is the result of a long process that dated back to 2016, when Tunisia formally applied for membership in COMESA, a structure of 20 African countries with 500 million inhabitants.

“Tunisian economy now has direct access to this African economic group,” Bahi said, adding the volume of trade between COMESA member countries has reached 235 billion dollars annually.

Bahi mentioned the competitiveness of Tunisian products would improve by the removal of customs duties among member countries.

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How is Black-owned Business Doing in the Trump Economy

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(CBM) – Leo Hickman, the founder of Classy Hippie Tea Company, has been in business for seven years. Hickman said under the current economy “there is monetary value, even if you are losing” because Trump “just put in tax breaks for owners,” the American Tax Cuts and Jobs Act, that can be written off.

The American Tax Cuts and Jobs Act passed in December and will have some benefits to small business owners. The National Federation of Independent Business says small business owners will be able to file as “pass through entities,” which allows owners to file and pay as an individual.

In addition, the NFIB says business owners can deduct up to 20 percent of claimable income. According to the NFIM, taxpayers will not have to file deductions to claim the deduction, “and may…

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South African Banks Put Brakes on Lending as Economy Shrinks

The pain felt in South Africa’s economy in the first quarter was echoed in the banking industry.

The value of new consumer credit granted in the first quarter declined more than 10 percent to 121.6 billion rand ($8.9 billion) from the previous three months, according to data compiled by the National Credit Regulator. The number of applications for loans remained little changed at 10.48 million, it said in an emailed statement on Friday.

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