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PwC launches ‘Into Africa – the continent’s cities of opportunity’ report to highlight the potential of the continent: African CEO Forum, Geneva 2015

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The African continent is crossed by five trends: demographic change, urbanisation, technological changes, the transfer of economic power and climate change

 

 Today at the African CEO Forum of 2015 in Geneva, PwC (http://www.pwc.com) launches the first edition of its ‘Into Africa – the continent’s cities of opportunity’ report, which details the potential of 20 African cities that we believe to be among the most dynamic and future focused on the continent. The report is part of PwC’s global Cities of Opportunity series and its analysis is structured around the critical issues of the business community as well as those of the office holders and other public authorities who are responsible for improving the collective life of each city examined here.

1832-150317(Stanley Subramoney, PwC Head of Strategy for Southern Africa)

 

The African continent is crossed by five trends: demographic change, urbanisation, technological changes, the transfer of economic power and climate change. Urbanisation is of particular importance, as by 2030, half of Africa’s population will live in cities where economic activity and growth will be focused and which will become communication centers and hubs for social trends. The global megatrends are colliding across Africa. The growing middle class, strong demographic growth with an improving age mix, technological innovation that we have already seen in mobile payments and a growing choice of investment partners from the global south, as well as fast-paced urbanisation are all shaping what the future of Africa will look like.

 

Stanley Subramoney, PwC Head of Strategy for Southern Africa, says: “We have sought to answer ‘what makes an African city one of opportunity’ by developing a set of questions that investors should ask themselves and themes which city politicians and officials can work on to improve their competitiveness. This report assesses how the cities are performing not only on a regional level but also on an international one, which is hugely important in terms of these cities being able to compete and prosper on both of these stages.”

 

PwC studied four indicators: the economy, infrastructure, human capital and population/society (which itself contains 29 variables). From this analysis, two rankings emerged: ‘general’ and ‘opportunities for cities’. “We believe that these cities demonstrate the relative strengths and weaknesses of Africa’s urban future. Our evaluation and re-evaluation of that future is, of course, a continual work in progress,” adds Kalane Rampai, PwC Leader for Local Government for Southern Africa.

 

North African cities lead the way

 

Four of the top five cities in the report are located in North Africa: Cairo, Tunis, Algiers and Casablanca, with the fifth being Johannesburg.

 

The preponderance of North African cities at the top is mainly due to how long they have been established. This has given them time to develop infrastructure and a regulatory and legal framework, and to establish a socio-cultural ecosystem. Johannesburg is the only exception to this pattern since it was only formed more recently, in 1886 (compared to the other cities it’s ranked highly with), and was developed rapidly for political reasons. Therefore, its infrastructure and services are comparable to those of the more established African cities.

 

African cities with promise

 

Another major criterion of a city’s potential is the vision they have for their future. Accra, the capital of Ghana, is a good example of a city that has a good reputation throughout Africa and beyond for the quality of its communications infrastructure, low crime rates and steady democracy. Economically, it ranks second for both its attractiveness as a destination for foreign direct investment and the diversity of its GDP.

 

Most of the African cities with promise can (and will), with a little effort and organisation, climb to join those cities at the top of our overall ranking. Moreover, many of them have already become key regional platforms, such as Dar es Salaam and Douala as centres for telecommunications, Accra and Lagos for culture, and Nairobi for financial services.

 

Outside our top five cities, Kigali finishes at the very top for both ease of doing business and health spending; Abidjan ranks number one in both middle-class growth and diversity; Dar es Salaam is first in GDP growth; and Nairobi outscores all African cities in FDI.

 

With 5% growth, dynamic demographics and a growing middle class, Africa is extremely appealing to investors. After undergoing a period of pessimism about the future of Africa with some exaggerated optimism, leaders today share a more realistic view of the economic climate of the continent. This is what PwC calls ‘Afro-realism’.

 

The trends identified in the report, with the generally accepted economic data supporting the notion that cities are the world’s ‘engines of growth’, make ‘Into Africa – the continent’s cities of opportunity’ report not only necessary but extremely timely.

 

Distributed by APO (African Press Organization) on behalf of PricewaterhouseCoopers LLP (PwC).

 

 

About PwC:

 

PwC (http://www.pwc.com) helps organisations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 195,000 people who are committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com

 

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please seewww.pwc.com/structure for further details.

 

Contacts:

Stanley Subramoney: PwC Head of Strategy for Southern Africa

Office: + 27 11 797 4380

Email: Stanley.subramoney.@za.pwc.com

OR

Jocelyn Newmarch: Account Manager: Edelman, South Africa

Office: + 27 11 504 4000

Mobile: + 27 84 462 1111

Email: Jocelyn.Newmarch@edelman.com

OR

Sanchia Temkin: Head of Media Relations, PwC

Office: + 27 11 797 4470

Email: sanchia.temkin@za.pwc.com

 

SOURCE 

PricewaterhouseCoopers LLP (PwC

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News

IN KILLING INBOX, GOOGLE TAKES ANOTHER SWIPE AT ITS MOST PASSIONATE USERS

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For all its skill and dominance in artificial intelligence, Google can be surprisingly lacking in the natural kind.

In move after move, Google snatches defeat from the jaws of victory. And all because the company’s culture is blind to the value of passionate users.

I’m quite certain that Google watches user numbers and applies analytics to everything it can measure. A radically analytical approach is powerful, but it can blind you to the factors that cannot be measured. Factors such as user passion.

My favorite example is Google+. After an initial surge of usage in the first couple of years, the social network gradually fizzled — smothered by a reputation for low engagement.

That reputation was largely false. But over time it became a self-fulfilling prophecy as Google took repeated action to hide and suppress engagement.

It killed Circle sharing, the best way to discover high-quality active users. It added Communities, which reduced attention aimed at users. Its dumb algorithms flagged (and thereby hid from public view) high-quality comments, while simultaneously failing to flag obvious spam. (Eventually, Google’s algorithms got much better, but only after most users had already abandoned the platform.)

This is a great plan — if your objective is to minimize user engagement.

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Google+ was, and still is, the online playground for Google’s most loyal fans. Google could have brought a billion people into this playground, where Google fans could hold sway and persuade everybody else to share their enthusiasm for Android, Pixel phones, Pixelbooks, Google Search, Google Assistant, Google Home, Gmail, YouTube and all the rest.

Instead, it actively buried or suppressed user engagement until Google+ became a shell of its former self. It has robbed its own most passionate users of audience, demonstrating that it doesn’t understand the value of those users.

And now it’s doing something comparable with email.

Google giveth, and Google taketh away
Google this week announced the end of two email-related products.

The first is the experimental alternative to Gmail called Inbox. The other is a Chrome app for offline Gmail.

The Gmail Offline Chrome app, which Google introduced seven years ago and hasn’t updated for five years, will be removed from the Chrome Web Store on Dec. 3. It has been superseded in functionality by the web version of Gmail, which has supported superior offline capability for years. (You can turn on the offline feature by going into Gmail Settings, choosing the Offline tab and making sure the “enable offline mail” checkbox is checked.)

But nobody cares about the Gmail Offline Chrome app. Good riddance to it. Technically, it never even made it out of beta.

The termination of Google Inbox, on the other hand, is more problematic. Inbox will be killed in March, according to a Google blog post this week.

Inbox, which is officially and oddly branded Inbox by Gmail, was launched as an experimental app in 2014. And probably in a panic.

Back in 2013, Gmail was proudly text-based and largely devoid of significant interface design. The service was popular and growing, and it looked as if Google would rule the email roost indefinitely.

Then catastrophe struck.

In early 2013, a startup announced an app for iPhone called Mailbox. More than a million people signed up to try it before it even launched, based on the innovation and appeal of its user interface.

The key Mailbox innovation — common now but revelatory then — was the use of swiping left or right to move or snooze messages. Mailbox emphasized other interface elements as well, including the containment of elements into boxes or “cards.” The combination of Mailbox features facilitated the quick achievement of “zero inbox” — Mailbox made it easy to skim and process emails.

It’s possible that the interface of Mailbox, and the obvious appeal of it, shocked Google into rethinking its hyper-minimalist design and may have influenced the course of its design language, Material Design, which the company introduced in the summer of 2014.

Google announced Inbox — one of the first Material Design products — a few months later.

Google may have rushed Inbox to market to stave off the loss of users to swipe-centric, card-happy upstarts such as Mailbox and its subsequent imitators.

Alas, poor Mailbox never had a chance. Its fatal flaw was that it wasn’t an email service, but a front end to the email services owned by other companies.

The companies that did control email services, including Google, easily copied the most appealing user interface elements of Mailbox, making them ubiquitous and Mailbox, therefore, worthless.

Dropbox, having acquired Mailbox one month after its launch, killed it in December 2015.

Gmail itself gradually got a Material Design makeover, as well as many (but not all) of the features popular in Inbox, such as Smart Replies.

Gmail still lacks Inbox’s Reminders integration, mobile app inbox swiping to manage messages, message bundling, inbox pinning and what fans call a “cleaner” UI.

Importantly, the overall feel of Inbox and Gmail — and the muscle memory required to use each — are still very different.

Why killing Inbox is a mistake
Google probably has around 1.3 billion email users by now.

Most of them use only Gmail. A sizable minority uses only Inbox. And lots of people — including yours truly — switch back and forth between the two.

That switching is facilitated by a number of factors. One of these is that filters created in Gmail Settings function inside Inbox.

Many users prefer using Gmail in their desktop browser because they like the granular control over everything, but they prefer Inbox on mobile for the Mailbox-like ease of use.

Google’s thinking appears to be that:

One email system is better than two.
More people use Gmail than Inbox.
Gmail is close enough now to Inbox in interface and features,
And, therefore, it’s time to kill Inbox.

The problem with this thinking is that all users are being treated equally here. If Google were able to measure the passion of users, it would almost certainly realize that far more passionate users are using Inbox.

Which is not to say that passionate Google users don’t use Gmail. They do. Some power users love Gmail because it allows more user control.

Still, many users stick to Gmail because they really don’t care that much. They’re used to it and don’t feel like changing anything.

Inbox users are the users looking for the newest thing, the users who can more quickly adapt to a new way of doing things, the users who jump on all of Google’s newly launched innovations because they trust Google.

The most cynical summary of this history is that Google had Gmail and everybody was happy. Then Google created a more innovative alternative, and its best and most active and engaged users loved that alternative. Then it killed that alternative after its most loyal fans had dedicated countless precious hours mastering it.

This is a great plan — if your objective is to minimize confidence and loyalty among your most passionate users.

And that’s why killing Inbox is a mistake. It’s yet another slap in the face of the passionate minority.

What Google doesn’t understand is that not all users are the same. Passionate users are far more valuable to Google than indifferent users. They try new things. They buy stuff. They persuade the public in Google’s favor.

By mismanaging Google+, killing Reader and now killing Inbox, Google has been making passionate users less passionate.

If it keeps this up, its most passionate users are going to take their passion somewhere else.

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Business

ONEPLUS IS GOING TO START MAKING TVS

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OnePlus is is getting into a new line of business: making TVs. Best known for its phones, China’s OnePlus also has a small catalog of really good accessories like wireless earphonesand surprisingly awesome backpacks, though nothing as complex or expensive as a television set. In announcing the news on the OnePlus online forums, company chief Pete Lau describes it as “the first step in building a connected human experience.”

Every hardware manufacturer is now looking intently at ways to monetize the smart home space. Samsung and Huawei recently announced smart speakers, Apple and Google already have the HomePod and Google Home, respectively, and Microsoft and Sony are old incumbents with their Xbox and PlayStation consoles. OnePlus has decided to make its entry point into this market the TV itself, which has always been at the center of home entertainment, though often with the help of other connected devices. Reading Lau’s teaser announcement, the OnePlus TV — which so far only has a project name, no timeline or specs have been revealed — will serve as the connectivity hub for OnePlus’ future vision of the smart home.

The OnePlus smart TV will be developed by a new division within OnePlus, led by Pete Lau himself. Still at the earliest stages of development, OnePlus is currently seeking input from its fans, as it often does, about what their priorities with a future smart TV will be.

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Finance

LAGOS TO HOST BIANNUAL AFRICA FINTECH SUMMIT FOR THE FIRST TIME IN NOVEMBER

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The Summit, organized by Dedalus Global, gathers innovators, investors, policy makers and other key stakeholders in the Fintech sector to discuss technologies transforming finance on the continent, debate regulatory policies, compare best practices, and forge new ventures
LAGOS, Nigeria, September 17, 2018/ — Africa’s premier fintech event, the Africa Fintech Summit, (www.AfricaFintechSummit.com) will be held for the first time in Lagos, Nigeria, onNovember 8-9, 2018. This event comes on the heels of the earlier edition in Washington D.C. which featured leading policy makers, c-suite business executives, start-ups, and investors.

The Summit, organized by Dedalus Global, gathers innovators, investors, policy makers and other key stakeholders in the Fintech sector to discuss technologies transforming finance on the continent, debate regulatory policies, compare best practices, and forge new ventures.

Speaking on the decision to bring the Summit to Lagos, the Chairman of the Summit, Leland Rice, said, “Lagos is an ideal host city; it’s an epicenter of Africa’s fintech revolution and the driving force behind the continent’s entrepreneurial spirit. The successes of companies such as Paga, Flutterwave, Mines.io, and Paystack have strategically positioned Lagos as the destination of choice for investors.”

“The first edition of the Summit in D.C. was a launch pad for several milestone fintech deals struck among its delegates in the months after the event. We plan to build on these successes in Lagos, with a focus on bringing innovators and policy makers together to move the needle on fintech regulation and bringing founders and investors together to facilitate further capital raises,” added Leland.

The two-day event will feature investor missions from the US, UK, and UAE, an Alpha Expo featuring the most exciting startups and entrepreneurs in Nigeria, a half-day blockchain masterclass, and an awards ceremony.

Reacting to the decision to host the Summit in Lagos, the Senior Special Assistant to the President on Technology, Lanre Osibona, stated, “This reflects the progress Nigeria is making in the areas of technology and financial services. The event is very important as it comes at the heels of the Vice President Osinbajo’s trip to Silicon Valley to promote Nigeria’s tech sector. We look forward to collaborating with the organizing committee and to a successful event in Lagos.”

In similar vein, Tayo Oviosu, the founder of Paga—a payment company that recently raised $10 million in Series B2 funding—said that “the Africa Fintech Summit in Washington D.C. provided valuable insights into the fintech space and connected me with key players in the industry. I look forward to the Lagos edition.”

Speakers lined up for the event include Chief Economist of PwC Nigeria, Dr. Andrew S. Nevin; Managing General Partner of EchoVC, Eghosa Omoigui; CEO of Diamond Bank, Uzoma Dozie; Founder of Flutterwave, Iyinoluwa Aboyeji; and CEO of PayStack, Shola Akinlade, whose company recently raised $8 million Series A funding

Distributed by APO Group on behalf of Dedalus Global.

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For more information, please contact:
Ridwan Sorunke
Directory of Communications, AFTS
Ridwan@AfricaFintechSummit.com
+234 (0) 8037885760
+1 2023166726

About Dedalus Global

Dedalus Global (https://VC4A.com/dedalus-global/) is an investment and strategy advisory firm focusing on emerging markets and emerging technologies. With networks throughout Africa and the Middle East, we leverage granular market knowledge to drive innovation, accelerate capital deployment, and create value for our clients and the economies where they operate.

About Africa Fintech Summit (AFTS)

The Africa Fintech Summit (www.AfricaFintechSummit.com) is a biannual event that brings together leading disruptors, tech and finance professionals, regulators, and investors from around the globe to debate policies, compare best practices, and forge Africa-focused ventures. AFTS leverages the growth of the fintech sector in Africa to bring key stakeholders to discuss the technologies transforming finance on the continent.

To learn more about AFTS, please visit www.AfricaFintechSummit.com

View a recap from the AFTS Washington: https://www.youtube.com/watch?v=ZIdDS-u0rXE

SOURCE
Dedalus Global

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