Author: Albert Nangara

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…

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…

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…

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…

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…

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…

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,…

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…

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…

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…