South Africa : Political Party Funding Committee Extends Deadline for Submissions

 

The Ad Hoc Committee on the Funding of Political Parties has extended the deadline for submissions and comments on the funding of political parties.

 

The Chairperson of the Committee Mr Vincent Smith agreed that the deadline for submissions be extended until the end of business on 24 Monday, after the Committee had received requests that motivated for more time in accepting comments.

The Committee is expected to finalise its business by year-end.

Distributed by APO on behalf of Republic of South Africa: The Parliament.

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Categories: AFRICA, South Africa | Tags:

Tunisia : Wang Yi Holds Talks with Foreign Minister Khemaies Jhinaoui

Wang Yi Holds Talks with Foreign Minister Khemaies Jhinaoui of Tunisia

 

On July 19, 2017, Foreign Minister Wang Yi held talks in Beijing with visiting Foreign Minister Khemaies Jhinaoui of Tunisia. Wang Yi expressed that China and Tunisia enjoy a long-standing friendship, and both sides have always supported each other on issues concerning respective core interests and major concerns. With the common care of the two heads of state, China-Tunisia relations have maintained a rapid and sound development momentum in recent years, and yielded positive outcomes from practical cooperation in various fields, benefiting the two peoples. China supports Tunisia’s economic and social development, and will encourage Chinese enterprises to invest and run business in Tunisia. It is hoped the Tunisian side could provide Chinese enterprises with more preferential policies and security assurances. Appreciating Tunisia for supporting the “Belt and Road” initiative, China is willing to combine the “Belt and Road” construction with the implementation of cooperative measures under the frameworks of China-Africa Ten Major Cooperation Plans and China-Arab States Cooperation Forum, and enhance bilateral strategic integration, so as to realize common development. Supporting Tunisia’s efforts in safeguarding its stability, China stands ready to increase support to Tunisia’s endeavor in counter-terrorism, and will continuously support Tunisia in playing an important role in advancing the political settlement of the Libyan issue.

 

Khemaies Jhinaoui expressed that Tunisia cherishes the traditional friendship between Tunisia and China, and appreciates China for providing great support and assistance for a long time. Tunisia staunchly upholds the one-China policy, and will continuously support each other with China on a series of major issues. The Tunisian side endorses the “Belt and Road” initiative, and is ready to actively participate in relevant construction. Tunisia welcomes Chinese enterprises to invest and start business in Tunisia and participate in the national development process of Tunisia. Tunisia has released visa-free policy for Chinese citizens to travel to Tunisia since this February, welcoming more Chinese tourists to the country. Appreciating China’s long-term objective and just position on the Libyan issue, Tunisia hopes China to play a greater role in promoting peaceful settlement of the Libyan issue at an early date. The Tunisian side also stands ready to further enhance coordination and cooperation with China on such issues as the Security Council reform and counter-terrorism.

After the talks, the two Foreign Ministers jointly inked the Agreement on the Establishment of the Consultation Mechanism between Chinese and Tunisian Foreign Ministries.

Distributed by APO on behalf of Ministry of Foreign Affairs of the People’s Republic of China.

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Categories: AFRICA, African Politics, Tunisia | Tags:

South Africa : PowerGen and DistribuTech 2017

 

GE leads the end to end power technology debate at PowerGen and DistribuTech 2017 event in Johannesburg

  • GE’s George Njenga shows how new technologies across the electricity value network are helping countries meet their electricity demands
  • Sustaining these investments is key to assuring Africa’s growth

 

 

Technology available today can be employed to create reliable, sustainable, localized and more efficient energy networks. That was the message that George Njenga, GM, Steam Power Systems for Sub Saharan Africa delivered to delegates while making his keynote address at the opening session of this year’s Power-Gen Africa and DistribuTech event in Johannesburg.

The electricity industry in Africa is undergoing massive transformation and the old linear model of conducting electricity affairs is being challenged and tested, as new models are emerging with far reaching impact.

“Distributed generation, smarter & cleaner steam power, renewables, smart grids, storage, prosumers, innovative financing, evolving energy policies and new political imperatives mean that energy stakeholders need to embrace new capabilities and innovative business models for better outcomes and to bring more power to the population, faster and more sustainably than before,” said Njenga.

GE (www.GE.com) has been partnering with energy stakeholders to deploy innovative technologies tailored to respond to the needs of the region. In South Africa, GE is deploying smarter, cleaner, steam technology (www.GEPower.com/steam) solutions at the Medupi and Kusile Power plants. This super-critical steam technology ensures efficiency at the power plant that will reduce operating costs over the lifetime of the plant, while reducing CO2 emissions by up to two percent.

In Angola, the government is using GE’s TM2500 mobile power plants (http://APO.af/NLoyzW) and containerized balance of plant equipment to achieve its additional electric power generation targets of 2 gigawatts and bringing fast, efficient power to its citizens. These units differentiate on speed, low emissions and fast start-up. In Ghana, GE’s high efficiency fuel-flexible-heavy-duty gas turbines (http://APO.af/0au4QA) are being deployed by the government to address the country’s growing energy needs. These rugged machines can burn more than 50 types of fuels giving Ghana great flexibility on available fuels.

“GE is committed to helping countries meet their growing energy demands with its full spectrum of energy solutions that will help them increase their energy capacity, and improve the reliability of their networks,” Njenga said. “Many of the solutions we are demonstrating at this event have already been deployed and are making a difference today,” he added.

On the digital front, GE’s Predix* (www.GE.com/digital/predix) based Asset Performance Management (APM) (http://APO.af/TcdteU) software, is being deployed in new and existing installations across the region. This software leverages data analytics to monitor power generation and transmission equipment health to predict potential failures and thereby reduce unplanned downtime by up to 5 percent, lower operations and maintenance costs, and lower operational risks.

Developing reliable power supplies across the continent is a global priority and a critical necessity to ensure Africa can reach its economic and human potential. PowerGen and DistribuTech brings together utilities, financiers and energy leaders from across the region to discuss and develop technical knowledge in the field of electricity generation, transmission and distribution.

Distributed by APO on behalf of GE.

For more information, please contact:
Anne Ezeh
Communications Manager, GE Africa
+234 7031779857
Anne.Ezeh@GE.com

Thomas Millas
Communications Manager, GE Power
+1 910 515 7873
Thomas.Millas@GE.com

About GE:
GE (NYSE: GE) (www.GE.com) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.

About GE Power:
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.

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Categories: AFRICA, African Technology, South Sudan | Tags:

2017 VC4A Venture Finance in Africa Research

VC4A research proves founder teams are key to startup success in Africa

Data from VC4A’s new ‘2017 Venture Finance in Africa’ research (www.VC4A.com/research) proves that a strong team of founders is the key driver of startup success in Africa.

In this year’s study VC4A (https://VC4A.com) aims to better understand the critical success factors for African startups and identify the key ingredients that determine why one venture outperforms its peers. These learnings are useful for both the entrepreneurs and for the support systems they depend on to make well-informed decisions.

The 2017 release (www.VC4A.com/research) is based on data collected from 1866 ventures from 41 African countries and 111 Africa-focused investors from 39 countries around the world.

“We are truly entering a new stage of startup growth on the continent. Not only has the number of startups continued to grow at an impressive rate, they are increasingly successful at scaling into sustainable enterprises well-positioned for growth. With the right team in place, we are seeing a growing number of companies break rank. I’m sure we will witness many new success stories hitting the headlines as a result” Ben White, CEO VC4A (https://VC4A.com/members/zia505)

Key outcomes

A key outcome from this year’s research on African startups was the identification of their unique traits relative to the startups’ level of commercial performance. And although many factors go into building a company, analysis of the data makes clear that a strong team of founders is the key driver of venture success in Africa. Many investors consider this as the main thing they look for, but now the data also shows that the right team of founders makes the difference, and is the single most unique characteristic across the companies making commercial progress.

By analyzing two data samples of 100 ventures in more detail, i.e.: ‘emerging’ and ‘established’ ventures, the research team found correlations that help to understand the venture’s ability to be successful. The success of the ‘established’ ventures can be explained by the composition of the founding team based on size, education, gender and age.

Gender

As described above, gender balance can further explain venture success, as the founding teams of successful ventures are more likely to include male and female founders. It is noteworthy that 46% of these ventures include a female founder in their team. Exclusively female teams run 9% of the startups.

Among the countries with 20 or more ventures participating in the survey, Uganda and Kenya have the highest female participation. For Uganda, 57% of the ventures include a female founder where for Kenya the number is only slightly lower at 55%. South Africa has the lowest female participation rate at 33%. Nevertheless, these percentages of female founders far outpace averages recorded in more established startup hubs like New York or San Francisco. More details and other factors that differentiate a successful team of founders are included in the 2017 report.

Startup impact

The founders in the VC4A community continue to inspire. Not only has the number of startups active across the continent continued to grow at an impressive rate, the startups are increasingly successful at scaling into sustainable enterprises well-positioned for growth. Our research showed that 62% of the ventures have secured paying customers and 22% have prepared audited annual accounts. These are part of the many milestones that are often achieved before formal registration. Research shows this affects investor interest positively: 42% of these ventures have received outside funding. 29% percent of these companies have raised more than USD 50,000.

This mainstreaming of technology in traditional business sectors advances core industries. This year we found an increased amount of relevant technology applications across traditional sectors, including agribusiness, energy, healthcare and education. This relates to VC4A’s observations that there is indeed a growing number of entrepreneurs that not only have the knowledge and skills needed to contextualize, repurpose and refactor technology, but also the business skills needed to do so successfully.

Annual research among entrepreneurs and investors

The ‘VC4A Venture Finance in Africa’ report captures the performance of early stage, high growth ventures from Africa and the activity of early stage investors. The insights are broken down across several indicators: job creation, performance, investments, investor interest, ecosystem players and drivers of success.

This is the fourth consecutive time VC4A has endeavored in this annual research. As of September 2015 the data collection takes place continuously via the VC4A.com portal. As the community continues to grow, it is expected the report will generate insights into what is happening across the larger startup space.

For more information about the ‘Venture Finance in Africa’ research, visit: www.VC4A.com/research.

Distributed by APO on behalf of Venture Capital for Africa (VC4A).

Note to press:
– To learn more about the 2017 Venture Finance in Africa Report contact Thomas van Halen via Thomas@VC4A.com or +31(0)20 233 63 25;
– Register a FREE VC4A account to access the summary version or upgrade to access the full results for only $79,99: https://VC4A.com/research.

About Venture Capital for Africa (VC4A):
The mission of VC4A is to support the African startup community. VC4A is a network-building organization that started in 2007 and has grown organically over the years. The VC4A community has over 50,000 members in 159 countries, including 1.000+ investors. More than 8.000 entrepreneurs in Africa present their companies on the platform: early stage ventures that require investments of above USD 10K, but less than USD 2 million.

Source:: VC4A research proves founder teams are key to startup success in Africa

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