Author: Ken Mutuku

According to the UNDP, only 20% of Africans can access quality health care easily. World Health Organization recognizes Rwanda as one of the few American countries to perform well on the goal of Universal health coverage. The Health Emergency Preparedness and Response Program (HEPR) has awarded 34 grants worth $177 million as of June 2022. Rwanda is among the upcoming African countries trying to catch up to its sister countries. Today Rwanda is among the few African countries that strive to attain Universal Health Coverage, and this comes because 90% of Rwanda’s population has health insurance. Understanding what exactly is…

In 1923, South Africa had over 40 municipalities and 18 private companies, each struggling to dominate the industry. Despite the efforts of the SA government to ensure no severe loss, the power outages alone have caused its economy’s GDP to reduce by 1.3%. Eskom is about $25.6 billion in debt, which stems from its days as Escom. Eskom’s corruption and inability to provide suitable power is plaguing South Africa’s economy. The persistent power shutdowns, or load shedding as it is known in South Africa, has significantly hindered the country’s economic growth despite steadily leading Africa’s technological revolution. While weathered power…

The AIS 2024 will build on the £6.5 billion deals and £8.9 billion investment commitments achieved at the previous summit held in 2020. Around two billion people under 25 will live in Africa by 2050. 22% of Africa’s working-age population is starting businesses representing the highest entrepreneurship rate in the world. The UK Prime Minister announced that London will host the African Investment Summit on 23rd-24th April 2024. This initiative aims to benefit Africa and the UK economies by tapping into Africa’s innovative and entrepreneurial minds. The AIS is a prominent event hosting 24 Heads of State from African countries with…

AfDB estimates that the size of global digital wealth will skyrocket from $217 billion in 2022 to over $1 trillion by 2031.  The Investments in Digital and Creative Enterprises programme launched in Abuja ushering in a new era for the continent. Nigeria accounts for almost 30% of Africa’s funded ventures, with at least 180 startups. The African Development Bank (AfDB) has launched The Investment in Digital and Creative Enterprises (I-DICE) program in Abuja. This marks one of the latest initiatives to boost Africa’s digital transformation which the AfDB estimates will generate $712 billion by 2050 in Africa and $1 trillion…

Flat6Labs was one of the crucial investors that contributed to the $3 billion tech investments in 2022, and it continues to shake Africa’s tech ecosystem. Ramez El-Serafy and Dina el-Shenoufy have agreed to invest in more than 160 early-stage startups over the next five years. African tech startups received $3 billion in investments in 2022. Egypt’s startup accelerator company, Flat6Labs, has announced $95 million in VC funding to boost early-stage technology startups in Africa. Also, Read Young African investor. Sign up for Dream VC fellowship programmes. This VC funding for tech startups will focus on three promising territories; North, West…

Uganda signed a deal with China under which the China National Nuclear Corporation(CNNC) would assist its endeavours to tap into one of the few Nuclear energy sources in Africa. The first nuclear project, Buyende Nuclear Power Plant, will be located in Buyende, approximately 150 km(93 miles) north of Kampala. Uganda has an estimated 52000 square kilometres of uranium deposits around Buganda, Toro, Ankle and Bunyoro. Africa takes the next step in its evolution as Uganda announced its plans to generate at least 1000 MegaWatts(MW) from its nuclear power plant by 2031. This lines up with its efforts to identify alternative…

This partnership will allow OCP Africa scale its Digital Agriculture Platform. In 2021, Agriculture accounted for 17.2% of Africa’s total revenue. Smallholder farmers estimate a loss of at least 15% of their entire yield during the food production process. Microsoft has announced its partnership with OCP Africa through its Africa Transformation Office to improve Africa’s food security and Agritech at the 5th United Nations Conference on the Least Developed Countries. The partnership will assist smallholder farmers increase agricultural production through Agritech. OCP Africa is an agricultural company that supplies fertilizer solutions adapted to local conditions. The company has built a…

Olugbenga Agboola, co-founder and CEO of Africa’s largest fintech company, Flutterwae fintech, purchased a Miami beach house valued at $7.1 million. Flutterwave’s raised $250 million in February 2022 at a valuation of $3 billion making it one of the few unicorns in Africa. The fintech has faced legal and regulatory hurdles in Kenya including the freezing of $40m held by Flutterwave on money laundering allegations.   Olugbenga Agboola, co-founder and CEO of Africa’s largest fintech company, Flutterwae fintech, purchased a Miami beach house valued at $7.1 million. This purchase raises various questions after the Nigerian fintech company was allegedly hacked resulting…

Blockchain is one of the pioneer technologies leading the 4th Industrial revolution alongside AI. It has proven its compatibility with Africa’s diverse economy. According to Statista, the total economic revenue drawn from E-commerce within Africa exceeded their initial estimate of $16.5 billion and at an all-time high of $37.77 billion.  Individually blockchain and E-commerce have revolutionized Africa’s digital world. Although combined, they ensure rapid efficiency and improvement in Africa’s digital economy. Over the past decade, Africa has relatively gone through a slow but steady metamorphosis within its overall economy. The upcoming 4th Industrial Revolution has shifted young African entrepreneurs’ minds.…

The concept of the knowledge economy describes trends in advancements in economies towards significant dependence on Knowledge, Information and the capitalization of high skill levels. The Poland Knowledge Economy Assessment (KEA) has provided various policy options for securing additional sustainability growth and improving competitiveness. Africa’s human capital needs to be explored and utilized more. Developed countries have realized this hence why they often set up bases in Africa to benefit from the innovation of their people.   Africa is renowned worldwide for its rich natural resources, both in material and human capital. Over the years, manufacturing and agriculture have mainly…