Author: Albert Nangara

Albert is an experienced business writer specializing in stock exchanges, financial markets and technology. He has a deep understanding of the dynamics of the global economy and a keen interest in analyzing investment trends, market trends, and the impact of investments on stock prices especially in the Southern African region.

NAMIBIA exported fruits and nuts worth over N$1.4 billion between November 2021 and November 2022 – a good figure compared to imports just shy of N$400 million. www.theexchange.africa
  • Exports expanded from N$400 in 2020 to N$1.4 billion in 2022.
  • The fact that Namibia is able to export to countries in Europe highlights the potential for Africa to expand its trade relationships with other regions of the world.
  • This diversification is important for SADC region countries since it reduces reliance on a single commodity.

Namibia’s fruits and nuts industry has seen significant growth in recent years, with exports worth over N$1.4 billion between November 2021 and November 2022. This is a significant figure compared to imports, which were just shy of N$400 million. This export bill, although dominated by grape exports, shows that Namibia has a good market in Europe, especially in the United Kingdom, Germany, and The Netherlands.

Grapes and dates are considered the gold of the southern part of the country. However, there have been claims that producers are exploiting labor. Workers have constantly complained of late …

Read More
Potential of renewable energy in Africa. www.theexchange.africa
  • Africa is heavily dependent on fossil fuels, which not only contribute to climate change, but also make the continent vulnerable to price fluctuations in the global oil market.
  • Renewable energy projects in Africa, such as solar and wind power, are starting to gain momentum and are showing great promise as a solution to these challenges.
  • Investing in renewable energy in Africa not only helps to address these challenges, but also brings a host of benefits.

As the world continues to shift towards a more sustainable future, Africa is emerging as a key player in the renewable energy sector. With vast stretches of land and abundant sunshine, Africa has the potential to harness the power of the sun and wind to generate electricity, creating economic opportunities and reducing dependence on fossil fuels.

Currently, Africa’s energy sector faces significant challenges. Many countries in the region lack access to electricity, with nearly 600 …

Read More
Africa and the African diaspora has and continues to make a global impact on culture and society around the world. Music, food, art, sports, architecture, science, business, agriculture are just a few of the industries that the impact and influence of Africa and the African diaspora can be seen. www.theexchange.africa
  • The African diaspora is a diverse group, with communities found in countries all over the world, including the Americas, Europe, and Asia.
  • The African diaspora can contribute to Africa’s GDP and development through investment, remittances, and the transfer of skills and knowledge.
  • Diaspora investments also add significant value to African enterprise. The World Bank records over US$80 billion sent to and within Africa in 2020.

The African diaspora, the dispersal of people of African descent throughout the world, has had a significant impact on both Africa and the African diaspora communities. The transatlantic slave trade, colonialism, and other historical events have led to the dispersal of millions of people of African descent throughout the world. The experiences of people of Africans in diaspora communities have been shaped by these historical events and continue to be felt today.

The African diaspora is a diverse group, with communities found in countries all …

Read More
Central Bank of Nigeria’s logo is seen on the headquarters building in Abuja, Nigeria. www.theexchange.africa
  • Nigeria’s central bank has awarded the startup a PSSP licence, enabling it to operate as a payment solutions service provider within the country.
  • This serves as a demonstration of the Nigerian central bank’s commitment to supporting fintech startups in the country.

Nigeria’s central bank, the Central Bank of Nigeria (CBN), has recently shown its commitment to supporting fintech startups in the country through its decision to award a Payment Solutions Service Provider (PSSP) license to fintech startup, Fincra.

This comes six months after the bank issued Fincra an approval-in-principle. This licence falls within the relatively new categorization of licences introduced by the apex bank in December 2020, which confers financial institutions the legal right to “engage in payment processing gateway and portals, develop payment solutions or merchant service aggregation and collections services”.

Founded in 2021 by Wole Ayodele, multiple-time founder and co-founder of the crypto exchange platform Quidax, Fincra was …

Read More
Signing of MOU between Zambia and UAE to invest in the energy sector on January 17, 2023 . www.theexchange.africa
  • Zambia’s state-owned power utility Zesco has signed an agreement with the United Arab Emirates’ renewable energy company Masdar to develop solar projects worth US$2 billion.
  • The project will commence immediately, starting with the phased installation of 500 megawatts (MW)
  • Zambia has been rationing electricity supply following a big drop in water levels in Lake Kariba, threatening hydropower generation which contributes more than 75 per cent of the country’s power output.

The United Arab Emirates’ government-owned renewable energy company, Masdar, and Zambia’s state-owned energy company, ZESCO, recently signed a Memorandum of Understanding (MoU) and a Joint Development Agreement (JDA) to develop 2 GW of solar energy in Zambia. The project, which is worth US$ 2 billion, will be developed in phases over the next five years, starting with the installation of 500 MW, President Hakainde Hichilema said.

“This is not a loan but a capital injection in which the Zambian people, …

Read More
Some of the plants usually grown hydroponically include tomatoes, cucumbers, peppers, and lettuces. www.theexchange.africa
  • Africa needs to reinvent its agricultural practices to help its people survive the impact of climate change. 
  • Hydroponic farming has the potential to transform the output of agriculture in Africa.
  • hydroponics can be used to grow a variety of crops, including fruits and vegetables, in a much shorter time frame than conventional farming. 

Hydroponic farming has the potential to revolutionize agriculture in Africa and provide a sustainable, efficient method of food production for the continent. Hydroponic farming is a type of agriculture that does not use soil, but instead uses water with added nutrients to grow plants. This technology is becoming increasingly popular around the world and has the potential to revolutionize the way food is produced in Africa.

There are several key benefits of hydroponic farming in Africa, such as increased food security, lower water usage, and higher yields. Hydroponics requires significantly less water than conventional farming, making it …

Read More
Zambia Looks to Angola for fuel Imports to Lower Prices and Prevent Supply Shocks. www.theexchange.africa
  • Zambia relies heavily on imports from other countries to meet its fuel needs. This dependence on imports has led to fluctuations in pump prices and supply shocks.
  • Angola, as a major oil producer in the region, has the potential to supply Zambia with the fuel it needs.
  • Zambia has agreed to buy a stake in Angola’s Lobito refinery, which is currently under construction.  

Zambia is planning to import fuel from its oil-producing neighbor Angola in an effort to lower pump prices and prevent supply shocks. The move comes as Zambia has agreed to buy a stake in Angola’s Lobito refinery, which is currently under construction.

During his three-day visit to Angola, President Hakainde Hichilema assured his host that Zambia would invest in the Lobito refinery.

“It makes no sense to import fuel from other parts of the world when we have a neighboring producer,” President Hichilema stated at a press …

Read More
Actor Idris Elba speaks after he received the Crystal Award at the World Economic Forum. www.theexchange.africa

Idris Elba and Sabrina Dhowre Elba were honoured with the 2023 Crystal Award at the World Economic Forum in Davos for their leadership in advocating for poor small-scale farmers worldwide. The Crystal Award recognizes exceptional artists and cultural leaders whose contributions to society have made a tangible impact on improving the state of the world.

As Goodwill Ambassadors for the United Nations’ International Fund for Agricultural Development (IFAD) since 2020, the Elbas have been vocal supporters of greater investment in agriculture and rural development, particularly in Africa, where severe weather events and conflicts have further impacted farmers’ ability to produce food for their families, communities, and countries. Despite the vital role these farmers play in ensuring global food security, 75 percent of the world’s hungry and poorest people live in rural areas of developing countries.

The Importance of Small-Scale Farmers in Africa

Small-scale farmers play a vital role in feeding …

Read More
OK Zimbabwe has concluded the acquisition of Food Lovers Market, which gives the supermarket chain exclusive rights to the brand in Zimbabwe. www.theexchange.africa

OK Zimbabwe, a supermarket chain, has acquired Food Lovers Market, giving it exclusive rights to the brand in Zimbabwe. The acquisition will improve the retailer’s position in the premium retail market, according to a statement from the company.

“The company successfully concluded the acquisition of the assets and business of Talwant Investments trading as Food Lovers Market in Harare’s Borrowdale and Avondale as well as Bradfield, Bulawayo,” said company secretary Margaret Munyuru.

The deal includes the assets and business of Food Lovers Market in several locations, including Harare and Bulawayo, but excludes the Greendale store.

Manyuru said the transaction includes the granting of a Territorial License Agreement, which provides OK Zimbabwe with “territorial exclusivity” for the expansion of the Food Lovers Market brand within the Zimbabwean market.

OK Zimbabwe CEO, Maxen Karombo, said the acquisition would enhance the company’s participation in the premium retailing of gourmet food, fruits, and vegetables. …

Read More
Cameroon exported a total of 22,604 tons on the international market in March 2022, 12% compared to the previous year’s 20,184 tons. www.theexchange.africa
  • Cameroon exported 24,643 tons of bananas in December 2022 compared to 20,631 in 2021.
  • According to the Cameroon Banana Association (ASSOBACAM) report, the sharp increase in banana exports in December 2022 is a result of the successful performances of Cameroon’s three main producers.
  • Experts are racing against time to stop a new banana disease threatening banana plants in Africa. 

The Cameroon Banana Association recently published data on the country’s banana exports. The data shows that the country exported 24,643 tonnes in December 2022, compared to 20,631 in the same period in 2021. This is an increase of 16.2 per cent year-on-year.

This upward performance is driven by three of the country’s main producers. Indeed, the market leader, Plantations du Haut Penja (PHP), a local subsidiary of the Compagnie fruitière de Marseille, reported an increase in exports in December 2022. The company exported a total of 19,572 tonnes compared to 17,677 …

Read More