Author: James Wambua

Kenya protests led to a steep decline in business activity in July. Kenya’s private sector reported backlogs of work build-up and lengthened supplier lead times. In the month under focus, however, rates of inflation remain muted. July 2024 has proven to be a turbulent month for Kenya’s economy, as widespread protests wreaked havoc on the nation’s private sector. The resulting decline in business activity and output has raised concerns about the long-term implications of political instability on Kenya’s economic health. According to the Stanbic Bank Purchasing Managers’ Index (PMI) survey Kenya protests, which started in June with calls for the…

Jersey has just been recognized as a global center for responsible finance, demonstrating its commitment to combating money laundering and terrorist financing. The island’s achievement has far-reaching implications for the global financial system, including for economies in Africa struggling with money laundering. African countries can take lessons on how to establish robust legal and regulatory frameworks for AML from Jersey to help plug vulnerabilities in their financial systems. The scourge of money laundering continues to be a serious pain point for authorities across Africa, with many countries struggling to fight illicit flows albeit with persistent risks. Currently, South Africa, the…

 Until now, the top five agricultural exports from Africa to US stores are coffee, cocoa, fruits and vegetables as well as seafood. AmCham tips savvy traders in Africa to explore exporting new and unique products such as ancient grains, Specialty Meats, superfoods and natural oils. These products not only cater to the growing consumer demand for new and diverse products but also supports sustainable and ethical sourcing practices. As the contours of global trade continue to take shape, Africa, a continent bursting at the seams with unique resources is increasingly taking center stage. Africa’s array of unique products—if harnessed optimally—can…

Startups in Africa have attracted over $1.2 billion in financing this year. Experts note that debt financing for startups in Africa is increasingly taking centre stage. In July, startups d.light, Va1U, Terrapay as well as Cartona all settled on debt financing to boost operations. Startups in Africa have defied the odds in declining global capital flow, attracting a record $420 million in financing in July. This funding, which excludes exits, takes to $1.2 billion the amount of money channeled to startups in Africa this year and is the highest on record in 14 months. “The numbers were heavily skewed by…

This year, Watu is set to introduce 10,000 electric motorbikes in Kenya, Tanzania, and Uganda. Watu has committed to enhancing its electric vehicle funding portfolio to 40 percent in three years and to finance the acquisition of 500,000 electric motorbikes by 2030. The firm has entered into a partnership with Uganda-based GOGO Electric, to power the design and development of Africa’s first fit-for-purpose electric boda bike. As the global call for the protection of the environment grows louder, the need for individuals, companies, and governments to promote sustainable development such as the adoption of green mobility solutions is gathering pace.…

<matahari88 daftar < matahari88 < viral99 < viral99 login < viral99 daftar This milestone is, however, delayed given that startup funding hit $1 billion in April 2023, as early as February in 2022 and May in 2021. One of the outstanding investments were d.light’s new $176 million securitization deal to enhance the uptake of solar powered equipment in Kenya, Uganda and Tanzania. Another record was Egypt-based MNT-Halan’s $157.5 million raise to fuel their expansion. With five months to go to the end of 2024, the state of startup funding in Africa looks promising with new businesses attracting over $1 billion…

hidden backlink hidden backlink AI in agriculture is being used to drive the sourcing of real-time data, perform predictive analysis, and run algorithms that optimize farming practices. In South Africa, Kenya, and Zimbabwe, ITIKI, an innovative project is tapping indigenous environmental knowledge among African communities, integrating it with AI to predict droughts with better precision. GSMA: AI in agriculture is poised to enable the deployment of innovative digital financial solutions such as credit and insurance products for millions of farmers. In Africa, a continent of over 1.2 billion people, agriculture remains the primary economic activity, accounting for 17 percent of…

Only about 50% of women in Kenya and 52% in Uganda feel that they are treated with respect and dignity. In Zimbabwe, 60% of women feel that they are treated with respect and dignity. This is a sharp drop from an estimated 71% of women who reported being treated with respect in 2013. The percentage of people in South Africa who feel this way was even worse at 27% among men and 28% among women. In Africa’s most advanced economy South Africa, the percentage of people in South Africa who felt this way was even worse at 27 percent among…

Central Bank of Kenya says active mobile subscriptions hit 66.8 million by December 2023 compared to 65.7 million a year earlier. Increasing usage of mobile money saw the banking industry in Kenya experience a drop in the value of banking transactions via bank agents to $10.5 billion. Kenya is a trailblazer in the adoption and usage of mobile money across Africa. A steady rise in the use of cashless transactions as well as the opening of 8,555 new mobile money agent shops in Kenya drove the value of mobile money transactions up by 13.8 percent to record KSh788.35 billion or…

Antoinette Monsio Sayeh is set to retire as Deputy Managing Director of the International Monetary Fund (IMF) on September 12, 2024. The IMF says her experience, deep integrity, and wise judgment have been invaluable to the global lender. Antoinette Sayeh oversaw several vital initiatives of operations, policies, and corporate priorities, drawing on her deep knowledge of the institution. Liberian management icon and trailblazer Antoinette Monsio Sayeh is set to retire from the International Monetary Fund (IMF) on September 12, 2024. In an update by the IMF Managing Director Kristalina Georgieva, Antoinette Sayeh will conclude her tour of duty in the…