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Fri,24Nov2017

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Education: Come fly with me, in and out of Egypt

Photos© SarfaniLocal organisations In Cairo have taken it into their own hands to promote diversity and stimulate young minds

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Letter - The Philanthrocrats: Setting the record straight

altPaul Skidmore, director of projects at the Tony Blair Africa Governance Initiative, responds to Ruby Edward's article, 'The Philanthrocrats' (TAR47 Feb 2013).

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War between Jordan Ayew and David Beckham avoided

ayewGhana’s Jordan Ayew became an instant twitter phenomenon on Wednesday night after he clashed with David Beckham during a match between Olympique Marseille and Paris St Germain

Twitter-sphere went off the hook as an angry Ayew confronted renowned footballer, Beckham, who was making his first start after moving to PSG in January.

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The Philanthrocrats: Doing good at a price

As aid budgets fall, market-minded philanthropists from the West and Africa are moving in with a new agenda. The Africa Report investigates the increasingly blurred lines between business and charity.

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South Africa: DA calls for tax reduction after billonaire's charity offer

Motsepe is the fourth richest man in South Africa and the sixth richest in AfricaPolitical parties in South Africa have welcomed and praised billionaire businessman Patrice Motsepe for donating at least half the money generated by his assets to the poor.

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Hunger stalks west Africa

Cereal production is said to be down compared to the five year average/Photo/ReutersOxfam, an international charity, has warned of serious food shortages in West Africa next year unless measures are put in place now to avert a disaster.

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Mandela's 46664 goes prêt à porter

46664 Fashion currently sells in South Africa, Namibia and Botswana. Pieces from the online store will also be available to customers in Lesotho and Swaziland/Courtesy photo46664 Fashion, a collaboration between Nelson Mandela's 46664 charity and Brand ID, has launched its online store, four months after its inaugural line hit the stores.

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New reality for the world's heavyweight financiers

 

The ‘philanthrocapitalism’ of rich financiers in New York and London could soon fade. Eager to put the rigours of the boardroom to work solving the world’s problems, these ‘new philanthropists’ started their own foundations and played by their own rules. Inspired by the philanthropy of Microsoft’s Bill Gates, Scottish tycoon Sir Tom Hunter pledged to give £1bn to charity over his lifetime. Hedge-fund billionaire Arpad Busson founded Absolute Return for Kids to work on HIV/AIDS prevention in Southern Africa, and regularly raises upwards of £25m pounds from wealthy friends at an annual gala dinner. ?

 

Some just pushed their way in. One charity, started in 2002 by Irish property-developer Niall Mellon, built 11,000 homes in South African townships by flying in groups of international volunteers to do the work, but had to be told to slow down by the municipalities, which struggled to keep up building new drains and roads.?

 

According to a survey by the New York-based Foundation Centre, giving by 80 of the largest US foundations totalled $5.4bn in 2007, a 70% increase from 2002, with Sub-Saharan Africa receiving more than 40% of international spending. But with investments crippled, nearly half of these foundations admitted the current financial crisis would focus their minds on domestic issues. Though bruised – Busson’s investments, for example, suffered from Bernard Madoff’s ponzi-scheme fraud – the financial turmoil is unlikely to be the death-knell of the philanthrocapitalists. The Bill and Melinda Gates Foundation lost 20% of the value of its assets in 2008, but it still plans to increase spending from $3.3bn in 2008, to $3.8bn in 2009. 

 

Back to Aid in Crisis, Who is helping whom? 

 
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