Author: Joseph Kangethe

• In 2021, the NFT market generated more than US$25 billion in trading volume, and 2022 appears to generate more figures than the previous year
• NFTs are digital assets in the form of a digital file, an image, video or audio that a seller uploads to a cryptocurrency exchange platform for people to buy through cryptos
• The KuCoin cryptocurrency trading platform announced on April 19 that it will launch a US$100 million Creators Fund to support early-stage NFT projects

Recently, Changpeng Zhao, the founder of the largest exchange platform, binance, argued that the NFT business is “bonkers”, expressing his disbelief about how successful the NFT market has become.

Changpeng quotes how almost a year ago, an NFT file sold at US$69 million, something the buyers will never even be able to touch physically!

“People may have lost their mind,” Mr Zhao told fortune.

Despite referring to the growing NFT obsession as …

Within the service industry, 4IR creates a potential for new goods and processes enabled by technology. As demand develops in lockstep with income, possibilities exist as African countries resume economic growth. Because technology complements rather than replaces labour in many service industries where formal companies and employment dominate, the adoption of technology should develop new formal wage positions for young and educated job seekers.

Adoption of 4IR technology may also result in improvements in job quality (e.g., earnings, income security) in the large non-farm informal sector (63 per cent of total employment)—for example, by the use of online stores and channels to find customers and satisfy their needs safely and efficiently.…

• The African continent receives only 2 per cent of the total global value of all cryptocurrencies.
• Chainalysis ranks Kenya, South Africa, and Nigeria as three of the top ten countries for cryptocurrency adoption globally
• Many African countries have overlooked this financial innovation, maintaining cryptocurrency exchanges while failing to provide a regulatory framework or allowing trading but not providing an exchange for their citizens.

The development in internet access in sub-Saharan Africa has brought with it new technologies such as cryptocurrencies and blockchain that have the potential to enhance and significantly revolutionise financial and economic sectors.

The African continent receives only 2 per cent of the total global value of all cryptocurrencies. In February 2022, CoinGecko estimated the crypto market to be worth US$2.04 trillion, translating to a US$40 billion African market worth.

The rapid growth of crypto in the continent will profoundly impact the financial sector in sub-Saharan Africa, which …

• Banks and shareholders are putting pressure on miners to enhance their environmental standards; They strive for net-zero carbon emissions at direct mining operations and value chains
• Historically, the sector has been responsible for many worker accidents and fatalities. As a result, it would be simple to dismiss the entire industry as an ecologically and socially unsustainable remnant of the industrial past
• South Africa’s future of sustainable mining methods is considered a bellwether for the most significant African sector since it is the continent’s largest centre of mining activity

The mining sector is under increasing pressure to embrace more ecologically and socially sustainable African methods. With lenders and investors requiring reductions in greenhouse gas emissions, pollution and advancements in the workforce and community well-being, there is a widespread perception that it is in the industry’s best interests to adopt more responsible practices to increase productivity and avoid negative publicity.

The mining …

• Rwandan Nationals travelling to Angola will not be required to have visas after the two countries have signed a new agreement
• On Friday, April 15, 2022, Rwanda and Angola signed nine cooperation agreements in different sectors
• “The government of Rwanda is committed to cementing bilateral cooperation with the government of Angola and working together in addressing regional, continental and global challenges that affect our countries,”

Travelling to Angola from Rwanda has been made easy! Rwandan Nationals travelling to Angola will not be required to have visas after the two countries have signed a new agreement to facilitate such.

On Friday, April 15, 2022, Rwanda and Angola signed nine cooperation agreements in different sectors, including:

• Agriculture and livestock
• Local administration
• Health
• Mineral resources
• Oil and gas
• Trade and investment
• Double taxation avoidance
• Extradition 
• legal assistance and transfer of convicted persons.

The discussions took place in Kigali, Rwanda, with a high-level delegation …

The takeover of MainOne and Digital Realty is but a tip in the growing startup iceberg. In recent years, the continent has witnessed the creation of a significant number of startups, many of which have proven to be heavily lucrative. “Technology-savvy younger people have established kinds of enterprises that we have not seen before,” Ngozi Okonjo-Iweala, the World Trade Organization (WTO) director, says. They are supporters of Flutterwave, InstaDeep, and Copia International.

The valuation of these African startups is increasing, as is the appetite of foreign traders, mainly venture capital firms from the United States, Europe, and even Asia. They have attracted a total of US$5 billion so far this year. In terms of fundraising, 2022 has gotten off to a strong start for these businesses, with the significant milestone of US$1 billion being reached between January and February.

Nonetheless, the current change is raising key concerns, such as whether …

The meat-alternative market is taking advantage of climate change awareness, and the messaging has changed accordingly, particularly as these products enter the mainstream.

“We can see what many brands’ marketing strategies are – they used to market just to vegans and vegetarians – why not advertise it to everyone and call it the healthy burger?” says Will.

“Now, when non-vegans try some of the products on the market, they are surprised by the quality, they say ‘this is amazing and can’t believe it’s plant-based and environmentally friendly.”

Indeed, this shift in messaging is reflected in the advertisements of large retailers introducing meat-alternative products.

Burger King, which recently launched plant-based Whoppers, Royale’s and Nuggets in South Africa, highlighted the health and environmental awareness prominently in press releases and advertisements.…

Starting on 24th to 28th April 2022, the world’s most elite young entrepreneurs and specific industries’ game-changers will attend the meeting, which will be held in Botswana.

Among the participants, a third will come from the 30 Under 30 Africa community, the other third from Botswana, and the final third from the Forbes 30 Under 30 community globally.

The Summit will begin in Gaborone, Botswana’s capital city. It will be inaugurated by a speech from the country’s government, venture capital, and business role models, inspiring the next generation of leaders.

The Summit will also house local performers, chefs and entrepreneurs, giving the experience of sounds, cuisine and staples of local culture while engaging in unbeatable networking and pitching opportunities.…

• The internet has evolved into a worldwide marketplace for the exotic animal trade
• Southeast Asia, the final destination for many African wildlife goods, had a 50 per cent decrease in smuggling in 2020
• Illegal wildlife trafficking is worth about US$7 billion to US$23 billion worldwide each year
• As per the AWF, up to 2.7 million pangolins are smuggled into Chinese markets each year

The Coronavirus pandemic has redefined the African illegal wildlife trade by shifting transactions online, constraining trafficking networks, and increasing bush meat poaching among the poor.

Earlier this year, the illicit wildlife trade in Africa took an extraordinary turning point. Deep in the Democratic Republic of the Congo’s tropical forest, a giant pangolin – an endangered animal species with plate-like scales that could weigh up to 30kg – was abducted by rebels who sought a US$500 ransom.

The Virunga jungle, home to lions, nearly extinct silverback gorillas, and …

The International Monetary Fund projects that Rwanda will post 7 per cent growth in 2022

• Rwanda weathered the Covid-19 pandemic to hit double-digit growth of 10.3 per cent for 2021 
• Rwanda’s life expectancy has risen from 49 in 2000 to 66.6 in 2017, while extreme poverty fell from 40 per cent to 16 per cent

The economic growth in East Africa is expected to flourish with the admission of the DRC to the East African Community (EAC).

This move increases the region’s bargaining power and has offered an alternative port of entry that will facilitate international trade. It has also turned the focus to the region and its economic impact on the continent and the world at large.

Among the seven countries in East Africa, Rwanda has reported the most rapid economic growth in the region.

Over the years, Rwanda has endeared itself to the donor community: a nation where …