Author: Joseph Kangethe

• Smartphones are now the primary gadget where most people are playing video games
• 95 per cent of the playing population are mobile gamers
• The global crypto gaming industry was valued at US$321 million in 2020.
• The number of gamers in Sub-Saharan Africa rose from 77 million in 2015 to 186 million in 2021

For the longest time, most African parents have viewed video gaming as a waste of time and resources. As a result, African gamers mainly played on consoles and computers in gaming joints and cyber cafes.

However, in the last five years, the video game market has lucratively shifted as many Africans enjoy the games and even have gaming consoles on their computers at home. The Coronavirus pandemic kept many people locked indoors, and gaming became one of the most preferred activities to kill boredom during the lockdown.

The video game market has also localised the content to …

South Sudan joined the East African community joined the EAC in April 2016, after being the youngest nation to gain independence on July 9, 2011. In 2020, South Sudan’s exports summed up to US$87 million to the EAC member states, while imports amounted to US$573 million.

In contrast to the year 2016, the exports and imports to the same stood at US$2.6 million and US$400 million respectively.

According to the International Trade Center, South Sudan exported US$86 million and imported US$357 million from Uganda in 2020.…

• Smart Africa represents over 815 million people and more than 40 Private Sector members committed to Africa’s vision and advancement.
• The Annual Investment Meeting (AIM) tops in platforms offering a powerful and flexible combination of virtual and live environments in the world.
• The International Telecommunication Union reports that an increase of 10 per cent of broadband connectivity results in an increase in the GDP per capita by 2.5 per cent.

Smart Africa and the United Arab Emirates’ Annual Investment Meeting (AIM) have reached a Memorandum of Understanding to stimulate Africa’s digital transformation investment.

The signed partnership opens an avenue for Smart Africa and AIM to collaborate on future core events to promote dialogue that will create progressive development agenda.

Who is Smart Africa?

Smart Africa is an association created by the head of States in Africa, global organisations and international private sectors that target revolutionising Africa’s digital platform. …

• Tropical storm Ana in January 2022 affected 180,869 people, injured 207 people, killed at least 38 people and flooded a total of 70,982 hectares of land.
• In two weeks, Madagascar, the most cyclone exposed country in Africa, experienced both Ana and Batsirai cyclones.
• The strength of Cyclone Batsirai could increase and spread to other countries in the Southern Indian Ocean.

Several cyclones, from Cyclone Ana, Batsirai, Idai, Eloise, Kenneth and Tropical Storm Chalane, have tormented the southern part of the African continent – from South Africa, Mauritius, Madagascar, Mozambique, Malawi and Zimbabwe.
A cyclone is a tropical storm with heavy winds rotating inwards to an area of low pressure. An anticlockwise circulation occurs in the northern hemisphere, while a clockwise circulation happens in the southern hemisphere.
The frequent occurrence of these storms indicates the heightening effects of climate change in the southern region of Africa and the world at large. …

• Traders holding the Cardano token will obtain loans of up to 70 per cent of the ADA tokens they hold.
• The concept of decentralization and blockchain technology can replace traditional financial services such as commercial banks. Cryptocurrencies can also be used as an investment tool, and so can Cardano (ADA). 
• The government of Ethiopia and Cardano Development had sealed an agreement to introduce 5 million secondary school students and 700,000 teachers on the Cardano blockchain app.
• The downside of taking loans on Cardano is that the borrowers will have to self-manage the risk of the fluctuating Cardano price.

Cardano (ADA) is proof to take blockchain led by Ethereum co-founder Charles Hoskinson. Charles initial purpose in designing the token Cardano was to create competition for the Ethereum token. Cardano launched on September 29, 2017, after two years of development.

Cardano combines pioneer technologies to provide unparalleled security and sustainability to decentralized …

• The hydropower project is worth an estimated US$1.3 billion that will see Ethiopia import 400 Megawatts of power annually.
• The World Bank approved US$684 million for the power line in 2012- Kenya got US$441 million of the share, and Ethiopia got US$243 million- raising eyebrows why the project has not been completed ten years later.
• The project started in 2012, but Ethiopia has blamed Kenya for the delays even after several lenders allocated funds for the project.

Kenya Ethiopia Electricity Trade

President Uhuru Kenyatta’s administration has reached a new agreement with Ethiopia to gear up further the purchase of cheap hydropower from Addis Ababa.

The two countries agreed with an Ethiopian delegation, led by Ethiopia’s Minister for Finance, Eyob Tekalign, visiting Nairobi from February 2nd to 4th this year.

The new arrangement was revised on previously signed power trade agreements. The two countries finalised the operational guidelines and procedures and …

• The evolution has allured intensive participation in the lending sector, stimulating the growth of the Nigeria Domestic Credit by 16.2 per cent year on year as of December 2021.
• There is no lending limit for the MFBs, and the Central Bank of Nigeria charges N400,000 to N500,000 for their registration. Operations are limited to Lagos State.
• The Money Lenders license is issued and regulated by the money lenders laws of the 36 states in Nigeria.

The business of lending in Nigeria has metamorphosized from the traditional system to a more digitally enabled flexible system for a faster and more convenient process.

The evolution has allured intensive participation in the lending sector, stimulating the growth of the Nigeria Domestic Credit by 16.2 per cent year on year as of December 2021.

The present state of the Nigerian economy, the need to expand for companies and businesses, and the insatiable desire for …

Fitch has added that the impossibility to borrow on international capital markets has triggered further downgrades in the credit ratings of the Sub-Saharan countries.

Angola and Gabon have witnessed their credit ratings upgraded in recent months. The upward trend refers to the surge in oil prices globally, which has boosted the finances of the two countries.

Several countries projects to experience rapid economic growth as the tourism industry recovers from the pressure exerted by the COVID-19 pandemic and more mineral sources continue to be discovered in the continent.…

The Tanzania Cereals and Other produce Board (CPB) reported that the grain stores in Juba and Lubumbashi were already experiencing a vibrant business environment. They also expected the Mombasa facility to outperform the two.

According to the 2019 Statistics, Tanzania exported more than 97,000 tonnes of maize. This factor opened the country to the opportunity of launching its grain surplus scheme with the Southern Agricultural Growth Corridor of Tanzania (SAGCOT).

SAGCOT was established in 2010 to create a transformed and economically viable agricultural sector in Tanzania that protects food security, enhances environmental sustainability, and improves livelihoods. The Agricultural growth corridor uses 350,000 hectares in the fertile southern islands of Tanzania to grow maize, wheat, paddy, sorghum, cassava, millet, beans, bananas and sweet potatoes.…

The Central Bank of Kenya added that all countries in the region needed to participate in flattening the multi-layered correspondent banking structure and shortening the payment chains for a digital currency to work.

The development of CBDCs has been on the rise. According to a 2021 survey of central banks by the Bank for International Settlements (BIS), 86 per cent of central banks are in the process of researching the potential for CBDCs, 60 per cent are experimenting on them, and 14 per cent were deploying pilot projects.

The CBK has maintained the cryptocurrency ban and has not issued a digital currency due to concerns about the risks of a CBDC.…