Connect with us

Tech News

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

Published

on

 

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

Continue Reading
Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business

BANK OF CHILE HIT BY CYBER-ATTACK, HACKERS ROB MILLIONS

Published

on

By

Shares in the Bank of Chile were down on Monday after it confirmed hackers had syphoned off $10 million (roughly Rs. 67 crores) of its funds, mainly to Hong Kong, though the country’s second-largest commercial bank said no client accounts had been impacted.

The cyberheist is the latest in a string of such attacks, including one in May in Mexico in which thieves used phantom orders and fake accounts to steal hundreds of millions of Mexican pesos out of the country’s banks, including Banorte.

Shares in the Bank of Chile, which is controlled by the Chilean Luksic family and Citigroup, were down 0.47 percent at CLP 100.4 ($.16) in mid-day trading.

Bank CEO Eduardo Ebensperger told Chilean daily La Tercera in an interview on Saturday that hackers had initially used a virus as a distraction, prompting the bank to disconnect 9,000 computers in branches across the country on May 24 to protect customer accounts.

Meanwhile, the hackers quietly used the global SWIFT bank messaging service to initiate a series of fraudulent transactions that were eventually spotted by the bank and cancelled but not before millions were funnelled to accounts abroad.

“The [attack] was meant to hurt the bank, not our customers,” Ebensperger said.

Ebensperger said a forensic analysis conducted by Microsoft had determined the attack was the work of a sophisticated international group of hackers, likely from eastern Europe or Asia, and that the bank had filed a criminal complaint in Hong Kong.

The bank said in a May financial statement that it would work with insurers to recoup the lost funds.

 

 

 

 

source: Gadgets 360

Continue Reading

Industry

HUAWEI MATE 20 PRO TIPPED TO SPORT A 6.9-INCH SAMSUNG OLED DISPLAY

Published

on

By

arlier this month, Huawei introduced the Watch 2 smartwatch with an eSIM and voice call support. Now, a new development claims that the company is procuring OLED displays from Samsung. The South Korean giant is said to have already sent out samples to Huawei, and if all goes well, full scale production is expected to start by Q3 2018. The smartphone to sport these 6.9-inch OLED panels is said to release sometime in the fourth quarter or even early 2019, and we largely expect to see them on the Huawei Mate 20 Pro.

South Korean media The Bell reports that Samsung is in the process of finalising samples with Huawei for its order of 6.9-inch OLED displays. These large-sized displays are usually seen on Huawei’s P series or Mate series. While the P30 series is not expected to arrive before MWC 2019, the Mate series traditionally arrives sometime in Q4. Furthermore, with the screen size being so large, we expect the Pro version to sport the 6.9-inch display, while the Mate 20 could sport a 6.1-inch or some such.

If Huawei is indeed bringing a 6.9-inch display smartphone, it should easily win the screen size battle, as the iPhone X Plus is expected to sport a 6.5-inch display, while the Samsung Galaxy Note 9 is expected to sport a 6.4-incher. These large sized displays are very popular in the Chinese market, and Huawei wants to meet expectations in its home market. Bigger screens are popular also because of the large text area used by the Chinese language, the report adds. Huawei wouldn’t want to lose its momentum in its biggest market by not staying ahead of its game.

Of course, all of this is based on sheer speculation, and we expect you to take everything with a pinch of salt, till Huawei makes things official.

 

 

Source: Gadget360

Continue Reading

Business

VPN TUNNEL : WHAT IS IT, HOW CAN IT KEEP YOUR INTERNET DATA SECURE

Published

on

By

With growing censorship and regulations threatening global internet freedom and security, in turn, we’ve seen an increasing number of services become available to protect your online web browsing.

Virtual Private Networks (or VPNs) have become increasingly popular in recent years for their ability to bypass government censorship and geo-blocked websites and services, and do so without giving away who is doing the bypassing.

For a VPN to do this, it creates what is known as a tunnel between you and the internet, encrypting your internet connection and stopping ISPs, hackers, and even the government from nosing through your browsing activity.

We explain the basics of what a VPN is here
What is a VPN Tunnel?
When you connect to the internet with a VPN, the VPN creates a connection between you and the internet that surrounds your internet data like a tunnel, encrypting the data packets your device sends.

While technically created by a VPN, the tunnel on its own can’t be considered private unless it’s accompanied with encryption strong enough to prevent governments or ISPs from intercepting and reading your internet activity.

The level of encryption the VPN tunnel has depends on the type of tunneling protocol used to encapsulate and encrypt the data going to and from your device and the internet.

Types of VPN tunneling protocols
There are many types of VPN tunneling protocols that offer varying levels of security and other features. The most commonly used tunneling protocols in the VPN industry are PPTP, L2TP/IPSec, SSTP, and OpenVPN. Let’s take a closer look at them.

1. PPTP
Point to Point Tunneling Protocol (PPTP) is one of the oldest protocols still being used by VPNs today. Developed by Microsoft and released with Windows 95, PPTP encrypts your data in packets and sends them through a tunnel it creates over your network connection.

PPTP is one of the easiest protocols to configure, requiring only a username, password, and server address to connect to the server. It’s one of the fastest VPN protocols because of its low encryption level.

While it boasts fast connection speeds, the low level of encryption makes PPTP one of the least secure protocols you can use to protect your data. With known vulnerabilities dating as far back as 1998, and the absence of strong encryption, you’ll want to avoid using this protocol if you need solid online security and anonymity – government agencies and authorities like the NSA have been able to compromise the protocol’s encryption.

2. L2TP/IPSec
Layer 2 Tunneling Protocol (L2TP) is used in conjunction with Internet Protocol Security (IPSec) to create a more secure tunneling protocol than PPTP. L2TP encapsulates the data, but isn’t adequately encrypted until IPSec wraps the data again with its own encryption to create two layers of encryption, securing the confidentiality of the data packets going through the tunnel.

L2TP/IPSec provides AES-256 bit encryption, one of the most advanced encryption standards that can be implemented. This double encapsulation does, however, make it a little slower than PPTP. It can also struggle with bypassing restrictive firewalls because it uses fixed ports, making VPN connections with L2TP easier to block. L2TP/IPSec is nonetheless a very popular protocol given the high level of security it provides.

3. SSTP
Secure Socket Tunneling Protocol, named for its ability to transport internet data through the Secure Sockets Layer or SSL, is supported natively on Windows, making it easy for Windows users to set up this particular protocol. SSL makes internet data going through SSTP very secure, and because the port it uses isn’t fixed, it is less likely to struggle with firewalls than L2TP.

SSL is also used in conjunction with Transport Layer Security (TLS) on your web browsers to add a layer to the site you’re visiting to create a secure connection with your device. You can see this implemented whenever the website you visit starts with ‘https’ instead of ‘http’.

As a Windows-based tunneling protocol, SSTP is not available on any other operating system, and hasn’t been independently audited for potential backdoors built into the protocol.

4. OpenVPN
Saving the best for last, we have OpenVPN, a relatively recent open source tunneling protocol that uses AES 256-bit encryption to protect data packets. Because the protocol is open source, the code is vetted thoroughly and regularly by the security community, who are constantly looking for potential security flaws.

The protocol is configurable on Windows, Mac, Android, and iOS, although third-party software is required to set up the protocol, and the protocol can be hard to configure. After configuration, however, OpenVPN provides a strong and wide range of cryptographic algorithms that will allow users to keep their internet data secure and to even bypass firewalls at fast connection speeds.

Which tunneling protocol should I use?
Advertisement

Even though it’s the fastest, you should steer clear of PPTP if you want to keep your internet data secure. L2TP/IPSec provides 256-bit encryption but is slower and struggles with firewalls given its fixed ports. SSTP, while very secure, is only available on Windows, and closed off from security checks for built-in backdoors.

OpenVPN, with its open source code, strong encryption, and ability to bypass firewalls, is the best tunneling protocol to keep your internet data secure. While it requires third-party software that isn’t available on all operating systems, for the most secure VPN connection to the internet, you’ll want to use the OpenVPN protocol.

A good VPN service should offer you the choice of at least these four types of tunneling protocols when going online. We’ve compiled a list of the best VPNs in the industry for you to get started on protecting your internet data.

 

 

 

Source: Tech Radar

 

Continue Reading

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 675 other subscribers

Advertisement

Trending

%d bloggers like this: