African press review 4 April 2017

From Rwanda receiving investments from Morocco, to South Africa living through the worst crisis since 1985, there's a lot to cover in this morning African press review.

 In South Africa, The Mail and Guardian has a story how the country went "from a cabinet reshuffle to junk status in just 90 hours".

Here is what happened: Credit ratings agency Standard and Poor's downgraded South Africa's rating to junk status on Monday, following a controversial cabinet reshuffle by President Jacob Zuma.

This included respected finance minister Pravin Gordhan.

According to the daily, S&P said the cut to below investment grade reflected "heightened political and institutional uncertainties". It's the first time this happens in 17 years according to the Mail and Guardian and it means South Africa is now seen"a higher risk by investors".

In an editorial, the newspaper remarks that "South Africa is on a cliff edge – just as it was in 1985."

The Daily Nation says Kenyans are becoming disillusioned with higher education.

The paper explains that's because Kenyans can't find jobs, "despite a government crackdown on fake certificates".

The article is based on a study on how Kenyans perceive the value of education in their lives. And apprently "though more of them are enrolling for higher education, the report says the same people now feel they have been making worthless investments".

76% of the respondents say they see good dipolmas as a useless "because they cannot find jobs or be guaranteed employment once they are through with studies."

According to the Daily Nation this puts into question the government's move to kill middle-level colleges.

"A recent frenzy saw many of them elevated to universities to offer degrees, at the expense of providing training in technical skills" the article says.

This is probably what led University Education Principal Secretary Collete Suda to say yesterday the country would stop creating new universities.

The Standard explains that instead, it would work on "enhancing quality in the existing ones".

Rwanda is receiving investment from an unlikely friend. The country is expecting more than 100 million euros in investments from Morocco, according to this morning's East African.

The money will apparently be invested in "different sectors of the economy including tourism, energy and infrastructure".

The annoucement comes after the country hosted more than a hundred Moroccan investors and officials yesterday.

The paper says the mediterranean country had already been investing in Rwanda for quite a bit now: a low-cost housing project is already under construction in Kigali.

But of course, money doesn't just flow one way.

The East African explains that the two states are also working on a deal that would see a local bank being sold to Morocco.

Don't expect this to have a huge impact on the Rwandan economy however.

"Trade flows between Rwanda and Morocco have been on the lower end of the scale, standing at just one per cent of total volumes last year" explains the paper.

The Egypt Independent reports on a new pyramid...

The paper says "the remains of a 13th Dynasty pyramid were discovered yesterday" by an Egyptian archaeological mission.

This means it was built during the 17th Century BC.

The pyramid is located in the Dahshur Necropolis at an area north of King Senefru's Bent Pyramid.

"Further analysis will be conducted to identify the pyramid’s owner, and the kingdom to which it belongs" explains the daily.

But in the meantime, you'll be happy to now that it remains in a very good condition and "the structure seems to be composed of a corridor that leads to the inside of the pyramid".