- Africa Climate Venture gets $1.08M from FSD Africa
- The rise and rise of Africa’s art market
- Puzzle of Kenya’s low forex reserves amid huge debt obligations
- Mombasa startups reducing marine plastic waste win $50,000
- Nigeria’s $10.8M plan to shore up livestock value chains
- Uganda: Pain for pensioners as new Bill withdrawn
- Moscow schools to start teaching Swahili from September
- South African Reserve Bank raises interest rates to 8.05%, a 14-year high
Author: Kiptoo Kosgei
On Tuesday, August 9, 2022, Kenyans went into the polls to elect their leaders in respective seats, from the member of the county assembly (MCA) to the president.
- The 2022 General Election in Kenya was held on Tuesday, August 9, with voters electing leaders of their choice in six respective seats from the MCA to the president
- With the election over, a new government will take over from the Jubilee administration as President Uhuru Kenyatta is set to retire after serving two constitutional terms
- Some of the issues the new government are expected to tackle include corruption, high cost of living, high unemployment rate and huge debt
The Independent Electoral and Boundaries Commission (IEBC) chairman, Wafula Chebukati, announced that United Democratic Alliance (UDA) presidential candidate William Ruto emerged as the winner of the highly contested presidential race.
Chebukati noted that Ruto garnered 7,176,141 votes (50.49 per cent) against his fierce…
Rwanda’s economy is one of the fastest growing in Africa. It has a ready market of over 12 million people with a rapidly growing middle class.
Rwanda’s economy is one of the fastest growing in Africa, with a ready market of over 12 million people and a rapidly growing middle class
Potential investment opportunities are in agriculture, infrastructure, energy, tourism, information and communication technology
Rwanda has an array of investment incentives for investors ready to invest in the key priority sectors, including a seven-year tax holiday for those investing over US$50 million
With a population of over 60 million and a high mobile penetration rate of 180 per cent, there’s a ready market for the money lending business. Financial inclusion in the country is still a challenge as 32 per cent of the population has no access to financial services, including bank accounts and loans.
South Africa’s banking sector has largely been controlled by four major banks with over 80 per cent market share. The lenders have not been unwilling to take risks to lend to small and medium enterprises (SMEs), disadvantaging them. This has resulted in almost a third of the population being locked out of credit needs.
The gap left by banks has been filled by alternative lenders targeting low-income earners. 89 per cent of this section of the market have mobile phones, with 39 per cent being smartphones. This means they can access online financial services.…
South Africa is the second richest country in Africa. It’s predicted that the country’s Gross Domestic Product (GDP) will cross the US$345 billion mark by the end of 2022.
Its economy is diversified with a growing and sizable middle class. South Africa’s services and financial sectors have grown rapidly since apartheid.
South Africa is placed at position 84 out of 190 in the ease of doing business ranking by the World Bank
The South African government, through the online Bizportal platform, has made it easier to start a business in the country
Bizportal platform, which was launched in 2019, is a one-stop shop for entrepreneurs to reserve a company name, register a new company, income tax, and withholding taxes
In 2020, South Africa was placed at position 84 out of 190 in the ease of doing business ranking by the World Bank. The country’s cities are working on reforms to
In June 2022, the International Air Transport Association (IATA) revealed that Nigeria had not handed over US$ 450 million owed to different airlines. By July 2022, the money owed to foreign airlines had risen by US$14 million to US$464 million.
The funds were generated from ticket sales but were yet to be remitted, leading to friction between Nigerian authorities and international airlines.
The Nigerian federal government attributed the mess to the foreign exchange crisis as the naira continues to weaken against the dollar. IATA asked the West African country to release the funds’ failure, to which it risks being alienated from air connectivity.…
According to the Armed Conflict Location & Event Data Project, North Africa has been rocked by protests more than any other region on the continent, even though it recorded the greatest improvements in wealth. The continent started experiencing unrest during the 2007-2008 global financial crunch. In North Africa, human development is dwarfed by the demand for greater political, civil and economic freedom. Governments in these regions have been accused of being authoritarian.
Have the protests been successful? In Tunisia, for instance, the country has transitioned to democracy. However, people’s expectations have not been met fully as the new democracy is more electoral than substantive and real institutional reform is yet to occur. Notable reforms have taken place in Algeria and Egypt, but Libya, brought down to its knees by the Arab spring, has yet to recover and has fallen into civil strife.
In Sierra Leone, the New York Times reported …
- The African Fertiliser and Agribusiness Partnership (AFAP) notes that over 40 per cent of African soils face nutrient depletion because of failure to apply sufficient levels of fertilisers
- Farmers in most countries are increasing their application levels, with the fertiliser application rate in Sub-Saharan Africa expected to increase to 22 kilograms per hectare by the end of 2022
- In Africa, the production of the material is concentrated in the northern parts of the continent
A study by the African Development Bank Group in 2019 revealed that most African countries depend on imported fertilisers for agricultural production.
The imports are mainly due to the lack of low-cost raw materials for production, low utilisation and high capital requirements for investment in production facilities.
According to the African Fertiliser and Agribusiness Partnership (AFAP), over 40 per cent of African soils face nutrient depletion, partly because of a failure to apply sufficient levels of
A new report has revealed the busiest airports in Africa in handling cargo traffic. The annual Africa airport traffic report 2021 released by Airports Council International (ACI) Africa on Monday, August 8, 2022, showed that 2.15 million metric tons of cargo transited through African airports. This represented around 1.7 per cent of the global cargo volume.
During the period under review, cargo traffic growth increased by 11.6 per cent compared to 2020. This came after airlines resumed operations following the devastating COVID-19 pandemic that had led to the grounding of planes.
Which airports handled the most cargo in 2021?…
African leaders are paid handsomely if their salaries are anything to go by. Even though the continent is still developing, its leaders take home fat cheques.
In Kenya, for instance, a New World wealth report revealed that people with political connections control half of the country’s wealth at the expense of ordinary citizens, some of whom live below a dollar per month.
In Africa, politicians fight for elected positions tooth and nail, attracted by affluent lifestyles, huge allowances and medical cover.
Who are the highest-paid African presidents? As reported by Business Insider, Cameroon president Paul Biya takes home the highest salary. He’s followed by King Mohammed VI of Morocco and South Africa’s Cyril Ramaphosa.…
Two decades ago, music was not considered a serious career in Kenya. Over the years, artists have transitioned from selling their music on compact discs (CDs) to streaming on YouTube and holding live performances. The rising technology has played a big part in this.
According to a report released by PriceWaterhouseCoopers, the Kenyan entertainment industry is ranked third in Africa in revenue. In 2019, it was estimated that the industry raked in Sh 347 billion.
Statista, a market and consumer data company, predicts that the entertainment revenues in Kenya will hit US$2.96 billion (Sh 353 billion) in 2023.…