Essential The Africa the Media Doesn't Tell You About
- Thread starter TommyHilltrigga
- Start date
The D-List Vet
Being in a recommendation system.
Link to that boardbreh. From a Nigerian looking to link back up Im with it. I just signed up on the largest Nigerian messageboard over there. These nikkas aren't no different from us.
Some dude posted a thread about how his gf posted some scandolous pics on fb. Dude didn't post the pics and the responses were all shyt you'd see here:
"Still waiting on pics"
"Waiting on pics to load"
There's money to be made in upgrading their messageboard infrastructure though BIG TIME. The platform they're using is so archaic.
Africa’s middle-class boom is real, study shows – and it’s gaining speed
GEOFFREY YORK
JOHANNESBURG — The Globe and Mail
Published Tuesday, Aug. 19 2014, 7:03 PM EDT
Last updated Tuesday, Aug. 19 2014, 7:04 PM EDT
The rise in Africa’s middle class has been over-hyped in recent years, but it is still a genuine phenomenon that is generating huge commercial and political opportunities, a new study says.
The analysis released on Tuesday by Standard Bank, a South African bank with operations across Africa, estimates that the African middle class has tripled in size over the past 14 years – and the boom is gathering speed.
The study analyzed 11 of the biggest economies in the region, accounting for about half of sub-Saharan Africa’s population and GDP. Those economies have grown tenfold since 2000, reaching a collective GDP of more than $1-trillion today, compared with a growth of just 25 per cent between 1990 and 2000.
Using a more rigorous definition of “middle class,” the study concludes that earlier estimates were much exaggerated. But it still finds dramatic growth, from about 4.6 million households in 2000 to almost 15 million households today in the 11 focal countries, if the middle class and lower-middle-class categories are both included.
Over the next 15 years, this growth will continue to gain momentum, and a further 25 million households will become middle class and lower-middle-class households in those 11 countries, the study forecasts.
It says Nigeria is by far the biggest source of the new middle class in Africa, while several East African countries are lagging.
By 2030, there will be 12 million middle-class households in Nigeria alone, the study predicts.
“There is an undeniable and powerful rise in income across many of Africa’s key frontier economies, allowing the formation and strengthening of a substantial middle class,” the report says.
In addition to the business opportunities, this trend is also providing strong support for the “maturing” of political and economic institutions, potentially creating a “cycle of social, political and commercial gain,” it says.
The growth and size of Africa’s middle class has not been “adequately measured” until now, according to Standard Bank senior political economist Simon Freemantle, who wrote the report.
A landmark report in 2011 by the African Development Bank, which triggered years of debate and media attention, concluded that 300 million Africans were middle class.
But this estimate was highly inflated because it included millions of Africans who earn just $2 to $20 per day, Standard Bank concluded.
“In fact, such individuals would still be exceptionally vulnerable to various economic shocks, and prone to losing their middle-income status,” Mr. Freemantle said.
He opted for a more nuanced measure of living standards, based on a South Africa model and translated into equivalents for other countries. Households that consume more than $15 a day were considered to be lower middle class or middle class.
Most of these families are urban, headed by people with full-time or part-time jobs. More than 95 per cent own televisions, and they often shop at formal grocery stores or supermarkets, rather than informal markets.
Despite the rise in the middle class, 86 per cent of households in the 11 focal countries are still low-income, although this figure will decline to 75 per cent by 2030, the report said.
The 11 countries in the study are Angola, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Sudan, Sudan, Tanzania, Uganda and Zambia.
By 2030, the households in these 11 countries will be contributing $820-billion in annual consumption, the report says.
“While the scale of Africa’s middle class ascent has, we believe, been somewhat exaggerated in line with the at times breathless ‘Africa Rising’ narrative, there is still plenty of scope for measured optimism,” Mr. Freemantle said in a statement.
“Reliable and proven data should, if anything, spur more interest in the continent’s consumer potential.”
GEOFFREY YORK
JOHANNESBURG — The Globe and Mail
Published Tuesday, Aug. 19 2014, 7:03 PM EDT
Last updated Tuesday, Aug. 19 2014, 7:04 PM EDT
The rise in Africa’s middle class has been over-hyped in recent years, but it is still a genuine phenomenon that is generating huge commercial and political opportunities, a new study says.
The analysis released on Tuesday by Standard Bank, a South African bank with operations across Africa, estimates that the African middle class has tripled in size over the past 14 years – and the boom is gathering speed.
The study analyzed 11 of the biggest economies in the region, accounting for about half of sub-Saharan Africa’s population and GDP. Those economies have grown tenfold since 2000, reaching a collective GDP of more than $1-trillion today, compared with a growth of just 25 per cent between 1990 and 2000.
Using a more rigorous definition of “middle class,” the study concludes that earlier estimates were much exaggerated. But it still finds dramatic growth, from about 4.6 million households in 2000 to almost 15 million households today in the 11 focal countries, if the middle class and lower-middle-class categories are both included.
Over the next 15 years, this growth will continue to gain momentum, and a further 25 million households will become middle class and lower-middle-class households in those 11 countries, the study forecasts.
It says Nigeria is by far the biggest source of the new middle class in Africa, while several East African countries are lagging.
By 2030, there will be 12 million middle-class households in Nigeria alone, the study predicts.
“There is an undeniable and powerful rise in income across many of Africa’s key frontier economies, allowing the formation and strengthening of a substantial middle class,” the report says.
In addition to the business opportunities, this trend is also providing strong support for the “maturing” of political and economic institutions, potentially creating a “cycle of social, political and commercial gain,” it says.
The growth and size of Africa’s middle class has not been “adequately measured” until now, according to Standard Bank senior political economist Simon Freemantle, who wrote the report.
A landmark report in 2011 by the African Development Bank, which triggered years of debate and media attention, concluded that 300 million Africans were middle class.
But this estimate was highly inflated because it included millions of Africans who earn just $2 to $20 per day, Standard Bank concluded.
“In fact, such individuals would still be exceptionally vulnerable to various economic shocks, and prone to losing their middle-income status,” Mr. Freemantle said.
He opted for a more nuanced measure of living standards, based on a South Africa model and translated into equivalents for other countries. Households that consume more than $15 a day were considered to be lower middle class or middle class.
Most of these families are urban, headed by people with full-time or part-time jobs. More than 95 per cent own televisions, and they often shop at formal grocery stores or supermarkets, rather than informal markets.
Despite the rise in the middle class, 86 per cent of households in the 11 focal countries are still low-income, although this figure will decline to 75 per cent by 2030, the report said.
The 11 countries in the study are Angola, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Sudan, Sudan, Tanzania, Uganda and Zambia.
By 2030, the households in these 11 countries will be contributing $820-billion in annual consumption, the report says.
“While the scale of Africa’s middle class ascent has, we believe, been somewhat exaggerated in line with the at times breathless ‘Africa Rising’ narrative, there is still plenty of scope for measured optimism,” Mr. Freemantle said in a statement.
“Reliable and proven data should, if anything, spur more interest in the continent’s consumer potential.”
Can you or one of the other guys do me a favor and @ the rest of people who posted in here? I know Dreamestorical did it on one fo the pages but i gotta leave now and forgot which one...
reason being that I discovered this site today:
http://www.konga.com
Just the type of site I was looking for.....i just want to see if I can get help finding out who the owner of the shop is...hate when you get excited then it ends up being a white person
https://www.linkedin.com/company/konga-online-shopping-ltd
True Blue Moon
Superstar
@Gifted one Can you link me to the group breh?
BigL187
MOPAO
@Gifted one can you add that info i put on the last page about the www.konga.com to the group
Billions promised to Africa - here's how it would be spent
06 AUG 2014 11:03 LEE MWITI
Summit season comes with degrees of "equal partnership" talk, but despite this the headlines are usually around promised money.
IT is summit season in Africa. The US-Africa Leaders Summit is the second major meeting this year, following the EU-Africa summit in March, and comes hot on the heels of similar summits with France, Japan and Arab nations last year.
Later this year India will hold its second triennial summit with African leaders, as Beijing’s flagship Forum on China-Africa Co-operation waits in the wings for next year.
These summits have recently been similar in that they are carefully wrapped in varying degrees of “co-operation” and “equal partnership” talk, but despite this the headlines are usually around the money and investment promised.
We take a look at the numbers announced so far: (Quoted exchange rates reflect the time the deal was announced.)
1: United States, ($33-billion), August 2014
President Barack Obama has become the first American leader to convene a summit of such magnitude with African heads of state, with the US-Africa summit themed around investment, security and rights issues.
On Tuesday, Obama announced $33-billion in commitments, with American companies planning $14-billion worth of investments in Africa, and his Power Africa drawing an additional $12-billion in commitments to go with the initial $7-billion it had attracted.
An official said the investments will span a range of industries, including construction, clean energy, banking and information technology.
While the US remains the largest source of investment on the continent, this has been largely in the oil and gas sector.
China’s trade with Africa overtook US volumes in 2009, and was estimated to have reached $210-billion last year; double that of its rival.
China and Europe have built stronger positions in infrastructure, manufacturing and trade, but the US is angling for big energy contracts, especially on the back of Obama’s $7-billion Power Africa plan.
Africans criticise US businesses as bound too deeply to old stereotypes and too risk-averse to plunge into business with them, even though the continent is growing faster than any other region on the globe.
2: European Union, ($39-billion), March 2014
The fourth EU-Africa summit in March struggled with the sideshows of who was not invited, including Zimbabwe President Robert Mugabe’s wife. South Africa president Jacob Zuma did not also attend in protest over the Mugabe saga.
However when the summit got down to business in Brussels some 50 African countries were represented, including 36 heads of state. The EU is far and away Africa’s biggest development partner, providing more than 140-billion euros ($187-billion) in aid between 2007 and 2013, including 18-billion euros in 2012 – nearly half the world’s aid to the continent.
The EU also had more bilateral trade with Africa than China did with Africa, at $321-billion last year, despite a decline in 2012.
At the end of the summit officials announced they would offer 28-billion euros ($39-billion) in grants over six years to fund a range of projects, including peacekeeping, agriculture and development. Some of the cash would also promote regional integration.
3: France, (unquantified), December 2013
While no headline billions were announced when French president François Hollande met 40 African leaders in Paris in December 2013, analysts noted that the country had lost market share across the region, despite wielding significant influence on account of its security operations.
The European power’s share of African trade has fallen from 10% to 4.7% over the last decade.
Hollande said France “must double trade with Africa” over the next five years, noting that this could add at least 200 000 jobs to the French economy. France’s current trade with Africa is 30-billon euros ($40-billion).
Paris will also double aid to Africa from 10-billion euros ($13.6-billion) to 20-billion euros over the next five years.
The final communiqué zeroed in on integration, financial transparency, skills training, Economic Partnership Agreements. An Africa-France business meeting is also on the cards, in addition to other major economic meetings.
4: Japan, ($32 billion), June 2013
The fifth Tokyo International Conference on African Development in June 2013 saw prime minister Shinzo Abe offer 3.2-trillion yen ($32-billion) in aid and investment to Africa over the next five years.
Of this, official development assistance (aid) was 1.4-trillion yen ($14-billion), with the balance being public and private resources. Some 200-billion yen would also be used to underwrite trade insurance, while 650-billion yen ($6.5 billion) would be allocated to infrastructure. Of note was that the cash would be used as African nations saw fit.
Other areas would be scholarships for 1 000 African nationals over five years, and cash towards a Japanese-style healthcare plan.
About 40 African heads of state and government officials attended the opening of the summit that is held every five years.
To follow up, Abe visited Africa in January, the first Japanese premier to do so in eight years, stopping at the AU headquarters in Ethiopia and in Cote d’Ivoire and Mozambique.
Japan trades only 2.7% with Africa, compared to 13.5% for China.
5: China, ($20-billion), July 2012
The Fifth Ministerial Conference of the Forum on China-Africa Co-operation in July 2012 was, as expected, a spectacle.
Then-president Hu Jintao offered $20-billion in loans to African countries over three years, twice the amount pledged in the preceding three years. The new loans would mainly go into infrastructure, manufacturing and agriculture, he said.
In July this year, China released a new white paper on its foreign aid, the second such document in its history. Aid to Africa saw the largest increase since the previous document published in 2011, to reach 51.8% in 2012.
Analysts have also noted that concessional loans now make up the majority of China’s aid financing, while zero-interest loans are down to single digits – 8.1% from close to 30% three years earlier.
China is now Africa’s biggest trading partner, with 2013 trade figures of $211-billion.
China’s “cheque-book” model has, however, been coming in for criticism by those who see it as short-term and resource driven. But at the 2012 summit Hu said China firmly supported Africa’s chosen development path, a position that resonates with many on the continent.
“We are certainly convinced that China’s intention is different to that of Europe, which to date continues to intend to influence African countries for their sole benefit,” South Africa president Jacob Zuma said.
6: Arab-Africa, (unquantified), November 2013
The third Arab-Africa summit in Kuwait saw the host country announce $2-billion in development and investment on “easy terms”.
Kuwait is the largest investor from the Arab region in Africa.
Saudi Arabia signed a clutch of economic deals with specific African countries that were valued at $140-million, as did other Arab countries. A lot of the cash will go into energy infrastructure development.
The oil-rich Gulf countries, which are mostly arid, appreciate Africa as a source of food and arable land.
It was agreed that the summit, held after every three years, will be hosted in Africa in 2016.
7: India, ($5 billion), May 2011
Ahead of the second-ever India-Africa summit this year, New Delhi will be looking to improve on its last deal with the region which saw then leader Manmohan Singh offer $5 billion.
This deal was mainly as lines of credit over the next three years. The amount was double the previous $2.15 billion.
Singh also offered an additional $1-billion for new training institutions and country-specific infrastructure, leveraged on India’s “soft-power approach” model.
At Addis Ababa 15 African heads of state attended, with 45 countries represented, but New Delhi will look to improve on this, using its deep historical links with the continent as an effective bargaining card.
India imports 70% of its crude needs, and the International Energy Agency expects internal demand to double by 2030, while it has also been active in growing its food on African land.
The Asian country’s bilateral trade with Africa in 2013 reached $93-billion, up from $3-billion in 2001, beating projections of $70-billion by 2015.
Consultants McKinsey report that Indian companies should quadruple their revenues from Africa to $160-billion by 2025.
Twitter @LMAfrican
06 AUG 2014 11:03 LEE MWITI
Summit season comes with degrees of "equal partnership" talk, but despite this the headlines are usually around promised money.
IT is summit season in Africa. The US-Africa Leaders Summit is the second major meeting this year, following the EU-Africa summit in March, and comes hot on the heels of similar summits with France, Japan and Arab nations last year.
Later this year India will hold its second triennial summit with African leaders, as Beijing’s flagship Forum on China-Africa Co-operation waits in the wings for next year.
These summits have recently been similar in that they are carefully wrapped in varying degrees of “co-operation” and “equal partnership” talk, but despite this the headlines are usually around the money and investment promised.
We take a look at the numbers announced so far: (Quoted exchange rates reflect the time the deal was announced.)
1: United States, ($33-billion), August 2014
President Barack Obama has become the first American leader to convene a summit of such magnitude with African heads of state, with the US-Africa summit themed around investment, security and rights issues.
On Tuesday, Obama announced $33-billion in commitments, with American companies planning $14-billion worth of investments in Africa, and his Power Africa drawing an additional $12-billion in commitments to go with the initial $7-billion it had attracted.
An official said the investments will span a range of industries, including construction, clean energy, banking and information technology.
While the US remains the largest source of investment on the continent, this has been largely in the oil and gas sector.
China’s trade with Africa overtook US volumes in 2009, and was estimated to have reached $210-billion last year; double that of its rival.
China and Europe have built stronger positions in infrastructure, manufacturing and trade, but the US is angling for big energy contracts, especially on the back of Obama’s $7-billion Power Africa plan.
Africans criticise US businesses as bound too deeply to old stereotypes and too risk-averse to plunge into business with them, even though the continent is growing faster than any other region on the globe.
2: European Union, ($39-billion), March 2014
The fourth EU-Africa summit in March struggled with the sideshows of who was not invited, including Zimbabwe President Robert Mugabe’s wife. South Africa president Jacob Zuma did not also attend in protest over the Mugabe saga.
However when the summit got down to business in Brussels some 50 African countries were represented, including 36 heads of state. The EU is far and away Africa’s biggest development partner, providing more than 140-billion euros ($187-billion) in aid between 2007 and 2013, including 18-billion euros in 2012 – nearly half the world’s aid to the continent.
The EU also had more bilateral trade with Africa than China did with Africa, at $321-billion last year, despite a decline in 2012.
At the end of the summit officials announced they would offer 28-billion euros ($39-billion) in grants over six years to fund a range of projects, including peacekeeping, agriculture and development. Some of the cash would also promote regional integration.
3: France, (unquantified), December 2013
While no headline billions were announced when French president François Hollande met 40 African leaders in Paris in December 2013, analysts noted that the country had lost market share across the region, despite wielding significant influence on account of its security operations.
The European power’s share of African trade has fallen from 10% to 4.7% over the last decade.
Hollande said France “must double trade with Africa” over the next five years, noting that this could add at least 200 000 jobs to the French economy. France’s current trade with Africa is 30-billon euros ($40-billion).
Paris will also double aid to Africa from 10-billion euros ($13.6-billion) to 20-billion euros over the next five years.
The final communiqué zeroed in on integration, financial transparency, skills training, Economic Partnership Agreements. An Africa-France business meeting is also on the cards, in addition to other major economic meetings.
4: Japan, ($32 billion), June 2013
The fifth Tokyo International Conference on African Development in June 2013 saw prime minister Shinzo Abe offer 3.2-trillion yen ($32-billion) in aid and investment to Africa over the next five years.
Of this, official development assistance (aid) was 1.4-trillion yen ($14-billion), with the balance being public and private resources. Some 200-billion yen would also be used to underwrite trade insurance, while 650-billion yen ($6.5 billion) would be allocated to infrastructure. Of note was that the cash would be used as African nations saw fit.
Other areas would be scholarships for 1 000 African nationals over five years, and cash towards a Japanese-style healthcare plan.
About 40 African heads of state and government officials attended the opening of the summit that is held every five years.
To follow up, Abe visited Africa in January, the first Japanese premier to do so in eight years, stopping at the AU headquarters in Ethiopia and in Cote d’Ivoire and Mozambique.
Japan trades only 2.7% with Africa, compared to 13.5% for China.
5: China, ($20-billion), July 2012
The Fifth Ministerial Conference of the Forum on China-Africa Co-operation in July 2012 was, as expected, a spectacle.
Then-president Hu Jintao offered $20-billion in loans to African countries over three years, twice the amount pledged in the preceding three years. The new loans would mainly go into infrastructure, manufacturing and agriculture, he said.
In July this year, China released a new white paper on its foreign aid, the second such document in its history. Aid to Africa saw the largest increase since the previous document published in 2011, to reach 51.8% in 2012.
Analysts have also noted that concessional loans now make up the majority of China’s aid financing, while zero-interest loans are down to single digits – 8.1% from close to 30% three years earlier.
China is now Africa’s biggest trading partner, with 2013 trade figures of $211-billion.
China’s “cheque-book” model has, however, been coming in for criticism by those who see it as short-term and resource driven. But at the 2012 summit Hu said China firmly supported Africa’s chosen development path, a position that resonates with many on the continent.
“We are certainly convinced that China’s intention is different to that of Europe, which to date continues to intend to influence African countries for their sole benefit,” South Africa president Jacob Zuma said.
6: Arab-Africa, (unquantified), November 2013
The third Arab-Africa summit in Kuwait saw the host country announce $2-billion in development and investment on “easy terms”.
Kuwait is the largest investor from the Arab region in Africa.
Saudi Arabia signed a clutch of economic deals with specific African countries that were valued at $140-million, as did other Arab countries. A lot of the cash will go into energy infrastructure development.
The oil-rich Gulf countries, which are mostly arid, appreciate Africa as a source of food and arable land.
It was agreed that the summit, held after every three years, will be hosted in Africa in 2016.
7: India, ($5 billion), May 2011
Ahead of the second-ever India-Africa summit this year, New Delhi will be looking to improve on its last deal with the region which saw then leader Manmohan Singh offer $5 billion.
This deal was mainly as lines of credit over the next three years. The amount was double the previous $2.15 billion.
Singh also offered an additional $1-billion for new training institutions and country-specific infrastructure, leveraged on India’s “soft-power approach” model.
At Addis Ababa 15 African heads of state attended, with 45 countries represented, but New Delhi will look to improve on this, using its deep historical links with the continent as an effective bargaining card.
India imports 70% of its crude needs, and the International Energy Agency expects internal demand to double by 2030, while it has also been active in growing its food on African land.
The Asian country’s bilateral trade with Africa in 2013 reached $93-billion, up from $3-billion in 2001, beating projections of $70-billion by 2015.
Consultants McKinsey report that Indian companies should quadruple their revenues from Africa to $160-billion by 2025.
Twitter @LMAfrican
nikka you know the info I need
Premeditated
MANDE KANG
Eq Guinea president needs to step the fukk down for christ sakes. That county has so much potential. With the amount of oil flowing of of there and a small ass population, it can be the Dubai of Africa. Alot of the people still live ike shyt over there. I mean I know there are some progree in terms of development going on over there, but they can do better. However, I will say in 10 years from now, it can have the best infrastruture in Africa. They have nice roads and stuff.
It still boggles my mind that there are still selfish leaders like this in 2014
It still boggles my mind that there are still selfish leaders like this in 2014
TMNT4000
Superstar
254 Ethiopian Youth are to leave for China for Train Operation and Maintenance Training For the Addis Ababa light train that will begin operation next year
254 Ethiopian youth are selected to be sent to China to be trained as Train operator and maintenance expert. Among the 254 youth 136 of them will be trained for Rail Master Position and the remaining for train maintenance and other related tasks. The training will take from four to eleven months.
For the training of the youth whom are said to be selected from the country’s highly acclaimed educational institutions the government of Ethiopia has budgeted four million dollars.
Though France was the world renowned for its train operation training since the price is ten times higher the Ethiopian government has chosen to train its train technicians in China.
The fact that the Addis Ababa’s light train itself is being built by the Chinese company and technology is also the reason behind sending the Ethiopian youth to china for the training.
But since the train operation needs extreme care and experience, the trainees will not be put on service when they come home directly. For this two alternatives are put in place the first of it being to use Chinese train masters and operators send by the Chinese company for some time and the other one being to give the railway and the train’s operation to a foreign company by contract for two or three years.
http://www.diretube.com/articles/re...in-operation-next-year_4764.html#.U_fThvldUrU
For the training of the youth whom are said to be selected from the country’s highly acclaimed educational institutions the government of Ethiopia has budgeted four million dollars.
Though France was the world renowned for its train operation training since the price is ten times higher the Ethiopian government has chosen to train its train technicians in China.
The fact that the Addis Ababa’s light train itself is being built by the Chinese company and technology is also the reason behind sending the Ethiopian youth to china for the training.
But since the train operation needs extreme care and experience, the trainees will not be put on service when they come home directly. For this two alternatives are put in place the first of it being to use Chinese train masters and operators send by the Chinese company for some time and the other one being to give the railway and the train’s operation to a foreign company by contract for two or three years.
http://www.diretube.com/articles/re...in-operation-next-year_4764.html#.U_fThvldUrU
True Blue Moon
Superstar
Beautiful things happening. I was planning to take my lady to Spain next year, but this thread has me thinking about seeing what Ghana or Ethiopia are looking like.
Angola’s Unitel valued at US$7 billion
August 19th, 2014
Angolan telecommunications company Unitel has been valued at 16 billion reals (US$7 billion) by Brazilian company Oi, which is merging with Portugal Telecom, Angolan weekly newspaper Expansão reported.
The newspaper cited a document included in Oi’s results presentation for the second quarter, which notes the asset will be sold and provides a value for the Angolan company.
Portugal Telecom (PT) owned 25 percent of the Angolan telecom company, which it helped to found in 2002 as the project’s technological partner. In 2007 PT sold 25 percent of its stake to a Nigerian fund.
PT Portugal now indirectly owns 18.75 percent of Unitel, via its subsidiary Africatel, which is valued at US$1.313 billion. (macauhub/AO/PT/BR)
http://www.macauhub.com.mo/en/2014/08/19/angola’s-unitel-valued-at-us7-billion/
August 19th, 2014
Angolan telecommunications company Unitel has been valued at 16 billion reals (US$7 billion) by Brazilian company Oi, which is merging with Portugal Telecom, Angolan weekly newspaper Expansão reported.
The newspaper cited a document included in Oi’s results presentation for the second quarter, which notes the asset will be sold and provides a value for the Angolan company.
Portugal Telecom (PT) owned 25 percent of the Angolan telecom company, which it helped to found in 2002 as the project’s technological partner. In 2007 PT sold 25 percent of its stake to a Nigerian fund.
PT Portugal now indirectly owns 18.75 percent of Unitel, via its subsidiary Africatel, which is valued at US$1.313 billion. (macauhub/AO/PT/BR)
http://www.macauhub.com.mo/en/2014/08/19/angola’s-unitel-valued-at-us7-billion/