Author: Giza Mdoe

The fintech industry is Africa’s financial inclusion solution for all vulnerable groups including women. Sub-Sahara Africa, fintech startups recorded 894% year-on-year growth in funding in 2021 More than 400 million new mobile subscribers expected to sign up globally by 2025 A report published by McKinsey claims that the number of tech start-ups in Africa tripled to around 5,200 companies between 2020 and 2021 and just under half of these are fintech startups. In the report titled ‘Fintech in Africa:The end of the beginning’ McKinsey shows that in line with global market leaders, the African fintech industry enjoyed revenues of between…

Price of staples goes up 300 percent compared to the same time last year. UNICEF estimates more than 4.8 million children are in dire humanitarian need. Over 500 000 people displaced  The social and economic impact of tropical cyclone Freddy on Malawi continues to worsen as inflation kicks in on all staple foods. While recovery efforts are ongoing, Malawi is now under high pressure to stabilize food prices. It is now over ten days since the South-Eastern African country was hit by what is considered the worst-known tropical cycle to ever occur anywhere in the world. “Very intense Tropical Cyclone…

Tanzania signs 161.47 million US dollars to implement Kakono HPP in Lake Zone European Union (EU) to chip in additional 35 million Euro for Kakono HPP  Kakono HPP will take five years to complete, feature a primary school, health centre The government of Tanzania has secured funding for the Kakono Hydropower Project (Kakono HPP). The project is in line with the country’s Third Five-Year Development Plan (FYDP III) and aligns with President Samia Suluhu’s plan to foster a competitive industrial economy. The Lake Zone, in the north-western part of Tanzania, is one of the country’s highest fossil fuel consuming region…

The kit has all the basics for adaptation in rural settings; affordability, accessibility, and ease of use and maintenance. This micro-irrigation kit brings much needed watering solution in arid and semi-arid regions as well as in the highlands where access to water can be limited. The project has already reached some 4,275 micro-investors operating across 115 savings and loan groups A low-tech micro-irrigation solution is providing high impact results for thousands of farmers in Tanzania. The tech is a small irrigation gear referred to as a micro-irrigation kit that has been introduced to farmers in Tanzania’s Southern regions like in…

According to the US review has maintained a solid macroeconomic foundation, sound fiscal policies, and rich natural endowments. The report credits Samia’s administration for its ‘strong regulatory framework, sound macroeconomic fundamentals and creation of a vibrant financial market.’ the US recognizes Tanzania’s favorable investment policies under president Samia Suluhu Hassan. Tanzania’s President Samia Suluhu Hassan promised reforms to improve the country’s business climate when she came into power in 2021 and singled out attracting foreign investment as a key priority. Suluhu’s shift in policy to attract investment will be part of the discussion with US Vice President Kamala Harris who…

US President Biden supports an African permanent seat on the UN Security Council. Vice President Harris’ visit to pave way for Biden Africa tour later this year US increased investment in Africa,still lags behind China The United States Vice President Kamala Harris is expected to land in Africa this week where she will tour at least three countries. Her itinerary includes Ghana on March 26, then Tanzania on March 29, and finally Zambia on March 31. This trip paves the way for the even more anticipated visit by President Joe Biden, as promised at the US-Africa Summit held in Washington…

Facebook accused of unlawful termination of Kenyan content moderators Kenyan Labour Court rules Facebook parent company Meta has a case to answer  Facebook and Meta’s unlawful termination case follows initial hazardous working conditions lawsuit Facebook parent company Meta has a case to answer in an unlawful termination lawsuit, a Kenyan Labour Court has ruled. The lawsuit comes against a backdrop of negative headlines in East Africa ranging from not censoring hate messages in Ethiopia to unlawful termination and hazardous working conditions in Kenya. The Employment and Labour Relations court in Nairobi stopped the social media giant from ending a contract…

EU insists it has not put sanctions on food and fertilizers from Russia Malawi receives the first consignment of 20,000 tonnes of Russian fertilizers The EU, UN might consider releasing more fertilizers and food embargoed at European ports to Africa The EU insists that food and fertilizer are not part of the sanctions it has imposed on Russia due to the ongoing conflict with Ukraine, yet the global supply of much-needed fertilizer is in short supply which begs the question; is Russia hoarding fertiliser supplies? While the EU says it is not to blame, Russia says it is the Western…

US World Bank President nominee Ajay Banga chooses Africa for his first tour AfDB president Dr. Akinwumi Adesina calls for a new measure of economic growth AfDB launches Adesina Africa Industrialization Index (AII) The World Bank is getting a new president and it will be likely US-nominee Ajay Banga who for his first global tour, chose to visit Africa. What does this maiden tour mean for the continent? Back in February, US President Joe Biden announced Ajay Banga as the United States’ nominee for President of the World Bank Group. Should he be approved, Ajay Banga will be replacing the…

The influx of used clothes from the west in effect affects the development of textile industries in the EAC Five years later, a new administration, Covid-19 and the Russia-Ukraine war not to mention a stronger China economy, the US may reconsider EAC state’s position. EA States have 2 years to consider if they want AGOA renewed In 2015, all major economies in East Africa, Kenya, Uganda, Tanzania, Rwanda and Ethiopia proposed to ban the importation of second-hand clothes but the US would have none of it. The intention was good, even noble: Banning second-hand imports would strengthen the domestic textile…