Buses to be powered by cow dung in Pakistan
The city of Karachi in Pakistanis set to introduce buses powered by bio-methane produced from buffalo excrement from 2020. The transport system in this city is far from being efficient and the introduction of 200 buses will go a long way in solving this challenge. Karachi has a population of 400 000 water buffaloes whose manure will be taken to biogas plants and converted into fuel. It is estimated that over the next 30 years, this will avoid 2.6 million tonnes of carbon dioxide emissions. It will also save Pakistan 230 000 litres of water. Currently, they use the water to wash away 3 200 tonnes of manure into the bay every day. The green revolution is upon us
Singapore pays all citizens bonus
As many countries grapple with the problem of budget deficit, Singapore is experiencing the exact opposite. They recorded a budget surplus of US$7.6 billion in 2017 and they will share it with all citizens who are aged 21 years and above. Each citizen will get between US$70 and US$225 depending on their income. Those who normally earn less will get the higher bonuses. The bonus has been described as a “hongbao”, a Mandarin word for a monetary gift on special occasions. The Singapore government is not blowing all the surplus in bonuses however. Some of the money is being channelled to rail infrastructure development and support for an insurance scheme for the disabled.
Jumia becomes first African start up to list on the NYSE
Jumia, an e-commerce company based in Nigeria is set to become the first African start up to list on the New York Stock Exchange (NYSE) if it lists next month. Thousands of promising start ups have come out of Africa in the past three years or so, none have gone as far as Jumia. The company was given a US$1 billion valuation in 2016 and offers services in African countries which include South Africa, Egypt, Ivory Coast and Tanzania. Telecoms giant MTN are its largest shareholder. Although Jumia reported a loss of US$192 million in 2018, it has been speculated that it will be valued at US$1.5 billion when it lists.
Jack Ma’s Africa Netpreneur Prize opens
Alibaba founder Jack Ma’s Africa Netpreneur Prize Initiative is set to open on 27th March 2019. With a US$1 million prize money to be won, this is set to be one of the biggest funding opportunities for African start ups. Entrepreneurs of any age and gender and from any of the 54 African countries are eligible to apply. Applications close on 30th June 2019 and the Top 50 will be announced in August 2019. From there, the Top 10 will be announced in October 2019 and these will get the once in a lifetime opportunity to pitch their ideas to Jack Ma and a panel of judges. Don’t say we didn’t tell you. Application can be made on: https://www.netpreneur.africa