- Tanzania at COP28
- AfDB partners with Prince’s Trust International to address youth unemployment in Africa
- AstraZeneca pioneers AI solutions for reforestation in Africa
- TotalEnergies divests 36% stake in South Africa’s National Petroleum Refiners
- Lipa Later’s $1.6M boost revives Sky.Garden’s East African market presence
- COP28: unmasking greenwashing in Africa and the challenge for sustainable development
- COP28: Early win with $260 million for climate damages
- Africa’s tech experts to convene for the 8th Edition of Digital and Technology Week
Author: Ken Mutuku
In the heart of Africa, a digital revolution is underway. As the continent stands on the cusp of an unprecedented digital transformation, a new currency is emerging, not in the form of coins or notes but in the unique digital footprints of its people. Digital identities, once an abstract concept, are now becoming the gold standard for Africans, especially in the professional realm.…
- Soonami will hold its second Venturethon between November 27th and December 3rd, 2023.
- The Venturethon will provide up to $125000 for teams with ideas and projects that match the investment criteria of Soonami.
- Soonami also significantly shaped the trajectory of AuditOne, a Web3 security platform.
Africa today is under its greatest revolution, the transition from centralization to decentralization. The concept of web3 is among the primary technologies ushering in the fourth industrial revolution. Since 2009, the web3 industry has accomplished several feats. Among its numerous achievement three stand out: digital ownership from NFTs, digital currency derived from cryptocurrency, and decentralized applications.
Entrepreneurs, innovators, and developers have managed to apply blockchain technology to several sectors like Agriculture, insurance, and real estate, ushering in a wave of decentralized applications in 2023. This new wave caught the eye of Soonami, a blockchain-based VC firm dedicated to bolstering the global adoption of web3.
As the world steadily transitions into the fourth industrial revolution, Africa has significantly highlighted its potential to dominate emerging markets. Amid these revolutions, Africa’s fintech, Mobile, Web3, and E-commerce industry has rapidly increased, welcoming more investors daily. Africa’s fintech industry is by far its most promising market, with investors producing promising startups like Yellow Card, Luno, and Flutterwave…
With the world steadily evolving to a more digital and eco-friendly era, many organizations have sought better ways to grow and consolidate their market. South Africa has recently caught the eye of many investors due to ongoing innovation and competitive government policies. However, Electricity rations have left the economy reeling, hurting many companies’ operations.
In the latest developments, South African battery manufacturer AutoX Proprietary Limited received ample support from Ecobat, which sold all its subsidiary businesses. This move represents an opportunity to scale for AutoX and highlights the country’s prevailing business environment.…
Africa’s digital transformation has caught the eye of many investors, aspiring to profit from its rapid growth. Over the years, Africa’s fintech, e-commerce, and mobile industry have significantly grown, showcasing the continent’s untapped potential. Unfortunately, despite the valid efforts of several governments, Africa’s progress is currently experiencing difficulties.…
- The AfDB and the African Guarantee Fund have unveiled a fresh plan to enhance the financial inclusion of women in Nigeria’s economy.
- The duo have opened the AFAWA Finance Series Nigeria, part of the AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) initiative.
- AFAWA Finance Series Nigeria will explore ways of enhancing the regulatory frameworks that can boost access to finance for women entrepreneurs.
Africa has the highest number of female entrepreneurs across the globe. However, the biggest obstacle they encounter is limited access to finance. Although access to financing poses a challenge to all small and medium enterprises, women-owned businesses are notably at a disadvantage.
It is estimated that the financial gap facing women entrepreneurs may reach up to $50 billion. This can be attributed to several factors, including deep-rooted social and cultural norms. These norms have historically restricted women’s ownership rights of assets that could serve as …
- Amazon is expanding its global reach and now eyes launching an e-commerce platform in South Africa by 2024.
- Africa’s e-commerce industry showcased an annual growth rate of 13.11% between 2023-2027, resulting in a projected market volume of $59.18 billion by 2027.
- Naspers-owned Takealot currently dominates the SA’s online retail market, with a gross merchandise value of $1.4 billion.
Africa’s e-commerce industry is among the fastest and most lucrative economic activity in the last decade. This billion-dollar franchise has showcased the continent’s potential amid this digital era, stringing in plenty of investors.
Vital figureheads in the tech world like Microsoft, Uber, Apple, and others have taken time to invest in and support Africa’s growing digital ecosystem. This wave soon reached Amazon, the world’s top e-commerce platform, as it set its sights on penetrating South Africa’s digital market. This new milestone will open more opportunities for Amazon and expand Africa’s e-commerce industry.…
- This year’s Africa Business Media Innovators forum will focus on key themes, including the impact of new technologies, AI, and the future of newsrooms.
- Forum comes at a time when social media platforms X, Instagram, and TikTok have become top sources of information.
- The Africa Business Media Innovators is returning to South African for the first time since 2015.
The media industry in Africa has been significantly impacted by the ongoing digital transformation, which has made information readily accessible with the click of a button. As a result, many media outlets have been compelled to transition to digital platforms. Regrettably, despite the numerous advantages of this transformation, the African media industry has been under the influence of various entities seeking control for an extended period.
The significance of information is well understood by governments, politicians, organizations, and even terrorist groups. The full control of a nation often necessitates gaining control …
- In February, reports claimed Ghanaian fintech Dash was providing false metrics on its user base and transaction volume.
- An audit showcased a significant shortfall of at least $25 million in the company’s accounts.
- Dash Fintech’s high operating expenses and monthly burn rate of $500,000 significantly contributed to its rapid fall from glory.
Africa’s fintech industry is among the fastest, and most lucrative economic activities. According to the African Development Bank, the industry will surpass its $3 billion mark in 2022. Despite its significant growth, the industry has struggled to maintain its progressive rate. The steady increase of the cross-border payment platform has flooded the franchise, ultimately, creating a negative effect on the industry. In recent news, Dash fintech, a Ghanaian fintech, shut down after raiding over $86.1 million in five years.
Unfortunately, this has been a rising trend in the industry. If not addressed, Africa’s fintech industry may fall behind …
The Fourth Industrial Revolution has significantly overhauled several markets within the continent. Africa’s media industry has gained much recognition among this long list of lucrative opportunities. Today, many African-based media and telecom companies have propelled the culture and talent of young actors. In recent news, Mauritius Telecom and Africa’s leading entertainment platform, MultiChoice, have officially partnered with Dstv Stream. Their recent collaboration aims to significantly expand Africa’s media industry within the shore of Mauritius. In addition, it will also open more employment opportunities to the country’s talented youths.…