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- South Africa Budget Disappoints Investors as Deficit Widens
- Kenya drops to 6th place in Africa trade barometer
- Tanzania’s bold move to boost cashew nut exports by 2027
- Chinese cities dominate global list of places occupied by billionaires
- Sudan tops up as Africa aims for $25 billion development fund
- Opportunities for youth: Tech firms Gebeya and NVIDIA to train 50,000 developers in Africa
- Shelter Afrique taps green bonds to raise funds for affordable housing in West Africa
- New digital wallet suite for Africa as Network joins forces with Ant
Africa
- Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
- Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
- With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.
African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.
In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.
As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …
- This initiative focuses on training developers to become certified in NVIDIA’s technologies, creating talent knowledgeable in AI, data science, and GPU processing.
- By nurturing a workforce skilled in AI and advanced tech, this alliance will drive innovation, entrepreneurship, and economic growth.
- Young developers will gain job opportunities and contribute to solutions in healthcare, finance, and agriculture.
Africa’s youth population, one of the fastest-growing in the world, presents both a challenge and an opportunity.
With millions of young Africans entering the job market each year, the continent faces a pressing need to generate work opportunities to check a worsening joblessness crisis.
However, in this era of digital transformation, the gig economy has emerged as a beacon of hope for Africa’s young workforce.
Two tech firms, Gebeya Inc. and NVIDIA, are rising to the occasion by launching an ambitious program to train 50,000 African developers, signaling strong intent to bridge …
- Shelter Afrique Development Bank (ShafDB) and the Bourse Régionale des Valeurs Mobilières (BRVM) will tap Green, Sustainability-linked, and Social (GSSS) bonds to finance housing.
- Green bonds will fund eco-friendly housing projects while social bonds will finance projects that prioritize affordability and accessibility.
- At the same time, sustainability-linked bonds will support both objectives, ensuring a comprehensive strategy for tackling the current housing crisis.
Shelter Afrique Development Bank (ShafDB) has taken a new step toward addressing affordable housing needs in Africa through a partnership with the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange for the West African Economic and Monetary Union (WAEMU).
In a Memorandum of Understanding (MOU), the Pan-African institution focused on affordable housing, signed the deal on the sidelines of the IMF-World Bank Annual Meetings in Washington, D.C., aiming to mobilize capital for affordable housing projects across the continent, particularly in WAEMU’s eight member countries.
With Africa’s …
- Global tech giants are meeting in Marrakech in May for the GITEX Africa expo as they seek a slice digital economy in the continent.
- Investors will be keen on learning tech advances in digital health, finance, AI consumer tech, cloud and IoT, as well as cybersecurity among others.
- GITEX Africa is organised by KAOUN International, an affiliate of Dubai World Trade Centre, which also organises GITEX GLOBAL show in the UAE.
This year, thousands of investors and entrepreneurs are converging in Marrakech, Morocco, for GITEX Africa, a signature tech and start-up expo that is poised to define the next phase of the continent’s digital economy.
The show, now in its second edition, comes under the Patronage of His Majesty King Mohammed VI of the Kingdom of Morocco. GITEX Africa, which is scheduled from 29-31 May 2024, is organised under the authority of the Moroccan Ministry of Digital Transition and Administration …
- Cairo-based lender CIB made this announcement during the first Egypt-Kenya forum held in Nairobi, Kenya.
- Egypt is shifting its economic strategy by enhancing collaboration with sub–Saharan Africa
- Kenya exports tea, coffee, nuts, meat, wheat and flowers, skin and hides as well as live animals to Egypt..
Lender Commercial International Bank (CIB) has identified partnerships as key drivers of growth that will power investments by bringing together businesses seeking to explore Egypt-Kenya trade opportunities.
Kenya’s Prime Cabinet Secretary Musalia Mudavadi says the entry of CIB into Kenya’s market is a major win for Africa’s quest to enhance trade among its 54 member states.
Speaking at the Egypt-Kenya trade forum in Nairobi attended by roughly 40 Egyptian companies drawn from construction, transport, water, tourism, manufacturing and healthcare sectors, Mudavadi said Kenya was at the forefront of opening its market to African countries to boost intra-Africa trade.
“As a government, we will facilitate …
- In Kenya, a concerning 75.4% of women journalists have reported experiencing online harassment.
- Several sub-Saharan African countries have enacted national frameworks, such as the Cybercrimes Act to counter the menace.
- However, while legal frameworks provide avenues for recourse, more proactive measures are needed to combat online violence effectively.
In an era dominated by digital platforms and social media, the rise of disinformation and online harassment poses significant challenges for journalists across the globe.
According to Clarice Wambua, a lawyer at leading corporate and commercial law firm Cliffe Dekker Hofmeyr (CDH) Kenya, this is especially true for women journalists in sub-Saharan Africa, who provide a vital service to society and must not be bullied into silence.
She notes that the pursuit of truth is of utmost importance, but women journalists in Africa often encounter difficult situations. Despite their valuable contributions to the field, they often face different types of harassment, which …
- The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative aims to close the $42 billion financing gap faced by women entrepreneurs, demonstrating that investing in women fosters gender-inclusive economic growth.
- By securing over $1.5 billion in investments for women-led SMEs and providing gender-smart banking training, AFAWA is changing financial institutions’ perceptions and practices, demonstrating the viability and profitability of supporting women entrepreneurs.
- AFAWA’s partnerships and educational programs build a more inclusive financial ecosystem, showcasing the initiative’s commitment to empowering women entrepreneurs and driving sustainable, inclusive economic development across Africa.
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) aims to invest in women and close the significant financing gap they face. Women entrepreneurs in Africa confront a daunting $42 billion disparity in financing compared to their male counterparts, largely due to misconceptions about their creditworthiness and a lack of collateral. Despite these challenges, …
