Author: Maingi Gichuku

The project emphasises that young people are starting businesses, which is essential to meeting our lofty employment goals.

Through a public-private partnership model, the alliance aims to assist the creation of national institutions that will scale up financial and technical support for young entrepreneurs and increase their capabilities.

The African Development Bank created the Youth Entrepreneurship Investment Bank as a unique value proposition that integrates and anchors work to create African entrepreneurship ecosystems.

The bank will coordinate the necessary financial and non-financial parties and partners through this project to fulfil their responsibilities for supporting young entrepreneurs through mentoring, training, experience and knowledge exchange, and other means.…

The Bootcamp will be divided between a two-week hackathon and a six-week learning phase. Participants must create decentralised projects on the Polygon Blockchain to compete for significant cash and mentoring awards.

More than 2,000 developers from five African nations—Nigeria, Kenya, South Africa, Egypt, and Rwanda—will attend the Bootcamp, collaborating alongside many developer groups in Africa, including GDG Nairobi. Certificates will be given to each participant.

According to Shodipo Ayomide, Global Head of Developer Advocacy at Polygon Technology, one of the several financial obstacles in Africa is cross-country money transfer.…

According to the statement, an invitation to bid for the ownership of Nigeria Air under the Federal Government of Nigeria’s Public-Private Partnership (PPP) regulations, overseen by the Infrastructure Concession Regulatory Commission (ICRC),

Published on March 5 in the Economist and several local Nigerian papers, with a deadline for the Request for Proposal (RFP) set for May 10 2022, but was later extended to June 10 2022.

On March 15, the Transaction Advisor built a data repository for all Nigeria Air facts, including the Outline Business Case (OBC) and financial model.…

Kenya is one of the six nations chosen to participate in the AfCFTA Initiative on Guided Trade’s pilot phase after it was realised that no trading had occurred one and a half years after the start of the preferential trading system on January 1, 2021.

The ninth meeting of the AfCFTA Council of Ministers charged for trade occurred on July 25 and 26, 2022, in Accra, Ghana, and announced the Start of Trade during the Pilot Phase.

Seven nations were chosen to test out commerce in the continental free trade zone for Africa during the summit, including Ghana, Kenya, Tunisia, Cameroon, Egypt, and Mauritius.

Despite being in different economic blocs than nations like Ghana and Tunisia, Kenya will now be able to access markets in Central Africa and West Africa at preferential prices thanks to the trial phase.…

According to Njoroge, it may be harder to borrow even as inflation increases due to advanced economies’ practices, such as rate hikes, which have shut us out of the financial system.

He mentioned that he had a discussion with Federal Reserve Chair Jerome Powell to urge the US Fed to give the impact of its policies on developing nations more consideration.

In order to ensure that emerging economies are not left on their own, he stated, “we need support from mature economies.”

Njoroge pointed out that despite this, emerging markets like Kenya have exhibited exceptional resilience in the face of global shocks, continuing to thrive.…

In the category of banks with the best case study, Standard Chartered Bank of Kenya took first place, followed by Absa Bank in second place and I&M Bank in third place, in the category of banks with the most nuanced case study in bank operations.

Through productivity programmes and the effective use of operational resources and energy like paper, water, and waste management, including electronic waste, the lenders were recognised in this category for their dedication and investment in ensuring the optimised management of both financial resources and natural capital.

KWFT won Promoting gender inclusivity

In a category that evaluated lenders’ efforts in encouraging women to be formally included in the financial services sector, creating opportunities for female employees to take leadership positions, and empowering female entrepreneurs,

KWFT was named the best bank for promoting gender inclusivity in the industry. Position two went to SBM Bank, and position three went …

The National Bank of Rwanda (BNR), Rwanda’s banking watchdog, gave KCB regulatory approval in March to merge the operations there, resulting in a more significant stake thanks to the infusion of KCB Rwanda’s assets into the combined entity.

Through the transaction, KCB expanded its retail banking presence in Rwanda.

Before the merger, BPR held a 10.2 per cent market share, which, coupled with KCB Rwanda’s six per cent stake, allowed it to surpass Equity Bank Rwanda, which was in second place with 11 per cent of the market.…

Tunisia anticipates striking an agreement with the International Monetary Fund on a credit of between US$2 billion and US$4 billion over three years in the following weeks, according to the central bank governor on Sunday.

“The magnitude is still being negotiated, but I believe it will range betweenUS$2 billion and US$4 billion,” Marouan Abbasi told Reuters. “We aim to achieve a staff level agreement in the next weeks.”

Last week, the authorities and the influential UGTT union agreed to raise public sector salaries by 5%, potentially easing social tensions. They did not, however, declare any additional agreement on reforms required for an IMF bailout.

• Tunisia anticipates striking an agreement with the International Monetary Fund on a credit of between US$2 billion and US$4 billion over three years in the following weeks
• The pay deal, according to Abbasi, is a critical step in discussions with the IMF and will provide

According to New World Wealth, Africa will have a 38% wealth increase over the next decade, with eastern African countries likely to lead the way, with “over 60% growth estimated in Rwanda and Uganda by 2031, and over 50% in Zambia and Kenya .”

It goes on to say that this will be fueled by rapid expansion in the technological and professional services industries.

According to the research, “South Africa has the largest luxury market in Africa in terms of revenue, closely by Kenya and then Morocco.” Over the next decade, the African wealth management market is expected to rise by 60%.

According to the report, Africa’s most enormous wealth was recorded in 2012 at US$2.4 trillion, while the largest number of dollar millionaires was 148,000 in 2017. However, the continent has been widely chastised for producing millionaires while leaving hundreds of millions of residents in poverty.…

The startup, which now has a presence in Nigeria, and Uganda, has entered its expansion phase and is looking for new partnerships to push mass consumer insurance adoption in Africa.

The tech insurance platform has developed to become a dominant player at the forefront of new insurance solutions since its inception. Turaco products cost US$2 per month, with simple terms and conditions and a fully digital claims system that enables claimants to file through phone calls or WhatsApp, with payments made in less than three days using mobile money.

“In the next 25 years, we want to cover a billion people, and that’s what we’re working toward.” It’s a lofty aim in every aspect, and I’m not sure how to get there, but I have a clear vision of covering 100 million people.

To reach the next level of development, you must collaborate with some of the world’s most recognisable …