Author: Kiptoo Kosgei

The Forex market, a vital element of international finance, has undergone profound changes over the years. To explore Forex trading in depth and gain practical knowledge, visit AvaTrade’s article on what is forex trading. AvaTrade offers comprehensive insights into the Forex market, making it an excellent resource for both beginners and seasoned traders. From the structured monetary systems of the 20th century to today’s advanced and decentralized trading platforms, its history reflects the evolution of global economic practices. This article traces the Forex market’s journey from the establishment of the Bretton Woods Agreement to its current state. The Bretton Woods…

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…

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 According to the African Development Bank Group, the…

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…

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 that demonstrations over the high cost of living had turned deadly.
In July, food street vendors organised peaceful demonstrations over the crisis but have since been joined by political protesters. They demanded the resignation of the country’s president Julius Maada Bio over his government’s failure to address the rising food and fuel prices. They clashed with the police leading to the death of 11 officers and an unknown number of protesters.

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…

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.