Author: James Wambua

Engineers from Botswana, Côte d’Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, and Uganda have made it to the Africa Prize shortlist. The innovations for 2023 span a range of novel ideas, including fabrics crafted from fungi cultivated on human waste, technological advancements in chicken farming, recycled plastic roof tiles, and an app-driven waste management service. These inventive projects contribute to the extensive network of Africa Prize innovators, which now boasts 133 alumni spread across 21 African countries, all dedicated to catalyzing transformative change through locally-driven solutions. The culmination of the competition will see four finalists competing for a portion of £60,000,…

AFDB has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The bank cites the effects of COVID-19, geopolitical conflicts, climate shocks, a global economic slowdown, and limited fiscal space as constraints to Africa’s recovery. AfDB is calling on governments to scale up investment in human capital and infrastructure to boost productivity, and regain momentum in economic growth. Global shocks have prompted the African Development Bank (AfDB) to revise its short to medium-term macroeconomic projections for Africa in 2023 and 2024, reducing the forecast to 3.4 per…

The advent of BRICS Pay could further strengthen these ties, offering African nations an alternative to the dollar-dominated trade and financial systems. BRICS Pay is a bold step towards a more multipolar world economic order. Its impact on US-Africa trade will depend on various factors, including its adoption by businesses and financial institutions across the coalition of nations. The launch of BRICS Pay, a digital payment platform developed by the BRICS nations (Brazil, Russia, India, China, and South Africa), marks a pivotal moment in international trade dynamics. This innovative system promises to streamline transactions among these emerging economies, potentially challenging…

Financial professionals must be fit to lead Africa’s inclusive sustainable growth and economic recovery, ensuring the continent’s place in the global arena. This call by the Association of Chartered Certified Accountants (ACCA) comes as the global economic landscape undergoes dynamic shifts. The ACCA emphasizes the importance of accountants being well-equipped to lead this charge and secure Africa’s standing in the international arena.
Their advocacy underscores the integral role that financial professionals play not only in shaping the economic landscape of individual nations but also in fostering a collective, continent-wide approach to sustainable development.

A groundbreaking initiative, the SEMA ReACT (SEvere MAlaria treatment with Rectal artesunate and Artemisinin-based Combination Therapy [in remote settings]) consortium, marks a fresh collaboration between Africa and Europe. This study addresses the knowledge gap surrounding an intervention designed to provide a critical time buffer for seeking additional care in remote settings where transferring to health facilities is difficult.

East African gas has around one-third of the global average carbon content and is extremely low in liquids. Unni Fijaer, Vice President and Tanzania country manager for Equinor adds that the gas is ideal for meeting the world’s energy needs while minimising emissions. Lower carbon levels make East African Coast gas reserves more attractive to investors. The vast gas reserves off the East Coast of Africa have significantly lower carbon content than the global average. This unique characteristic renders them more attractive to international investors and export markets amid the ongoing energy transition. A recent panel discussion at the AOW…

The AFAWA initiative seeks to increase women’s access to finance in the continent by bridging the $42 billion financing gap for women-led and owned small and medium enterprises. Since its inception just over two years ago, the AFAWA initiative has already approved $1.2 billion in funding for women-led enterprises in 32 African countries. Previous AFAWA Finance Series have been held in Tanzania, the Democratic Republic of the Congo, Ghana, Angola and Nigeria. The African Development Bank through its Affirmative Finance Action for Women in Africa (AFAWA) initiative, in partnership with African Guarantee Fund (AGF) and in collaboration with the Office…

Orange’s Max it is a “super-app” designed to be a portal for mobile services that simplifies the digital experience and eases the achievement of daily activities. The super app is set to debut in five countries Cameroon, Senegal, Mali, Burkina Faso, and Botswana across Africa. By 2025, Orange projects to have 45 million active users. The app brings together account functionalities, Orange Money, and an e-commerce platform offering digital content. Following the steady uptake of My Orange and Orange Money applications, which are used by more than 22 million customers on a daily basis, French telecommunications giant Orange is introducing…

Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ). LFZ is the first and only free zone in Nigeria that is uniquely integrated with the deepest seaport in the region, the Lekki Port, which started operations in April 2023. With a rich legacy spanning over four decades, Tata International is a key contributor to the economic landscape of the African continent. Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ). The agreement as signed in the presence of Anand Sen,…

African countries continue to grapple with substantial capacity gaps in macroeconomic modeling, a new report by AfDB shows. The findings underscore the need for further enhancement in macroeconomic modeling capabilities across African economies. The report offers insights into the models and modeling capacities present in roughly 31 out of 54 African states. Despite notable progress in forecasting, analysis, and effective policy management, a recent study by the African Development Bank (AfDB) Group reveals that African countries continue to grapple with substantial capacity gaps in macroeconomic modeling. Titled “Benchmark Macroeconomic Models for Effective Policy Management in Africa,” the report was unveiled…