In the last century, the fashionable and accepted route to success for young Africans was to complete their education and join the corporate world. A few university students aspired to become entrepreneurs; most educational institutions did not offer entrepreneurial programs. With few exceptions, African families used to guide their children to join a leading multi-national or work for a state institution, hoping they would climb the corporate ladder to become CEOs or at least senior management. That was prestigious until the paradigm shifted to tech entrepreneurship with the emergence of the computer, mobile and Internet industry in the latter part of the 20^th century. Whilst a lot of African families have built successful entrepreneurial ventures in the past, this essay emphasis the growing move of corporates to tech entrepreneurship.

The likes of Dr. Nii Narku Quaynor who started Network Computer Systems (NCS) in 1988 and played a key role …

The cornerstone of a successful trade is the efficient distribution of goods from the source to all points of sale. As such, cultivating logistics and distribution channels is necessary for the successful implementation of the African Continental Free Trade Area (AfCFTA). 

The continent is made up of over 50 different countries whose levels of development vary vastly. Each country needs to seek its solutions locally, but governments need to come together to improve intra-African trade and cross-border co-operation.

 AfCFTA will undoubtedly be a breakthrough in reducing the cost of shipping in Africa and improving efficiency. The amount of time that will be spent on customs clearance is set to drop drastically.  Currently, it takes more than a week at one-border stops in some countries. …

Africa’s tech habitude is on the rise. Internet usage has risen significantly on the continent. On top of that, the advent of the coronavirus pandemic accelerated the prospect of growth in the digital sphere. E-commerce is one such opportunity that affords businesses access to broader market opportunities in every arena. According to McKinsey, a worldwide consulting firm, the e-commerce industry in Africa is expected to grow to a $75 billion industry by 2025.

E-commerce is growing. It is accelerated by a growing and youthful population that is increasingly exposed and has an appetite for greater efficiency and improvement of business to first-world standards. The African diaspora has also contributed to this growing demand as people have become more exposed to what is going on around the world. Technology itself dissolves existing borders and opens up trade regionally and internationally.…

The World Bank (WB)—one of the world’s largest sources of funding and knowledge for the developing sphere published its Global Economic Prospect report in January 2021.  

The report zoomed in on the prospects of the global economy and Africa, displaying how the region remains pinned by the shocks of COVID-19 unless sound policy changes and strategic investment-enhancing reforms are made.  

On the bright side, the global economy is expected to expand by 4 per cent in 2021—this is dependent on the progression of COVID-19 vaccine provision throughout the year. …

The super spreading virus that triggered a pandemic of global proportions has entered a second wave. Most African countries are struggling to cope. Their already fractured health systems are at pains and facing challenges in handling the ballooning cases. Lockdowns and travel restrictions are still in place for some countries, greatly impacting economic activity. 

For example, Zimbabwe is currently in the middle of a month-long lockdown with only essential services operating. The restrictions have shut down all informal sector activity, which forms the bulk of economic activity. In South Africa, level 4 restrictions induced the closure of the busiest land borders. …

The Covid-19 pandemic continues to rage. African countries have so far recorded fewer cases than most other continents. However, a new, more infectious variant of the virus has surfaced in South Africa. This new strain is a significant threat to continental health. Given that the bulk of African countries’ health systems leave a lot to be desired, this is a heavy blow. 

That said, the effects of Covid-19 on African economies extend beyond the immediate impact on health. It goes to the effects of lockdown measures, interference with external trade as well as interruption of foreign inflows particularly, remittances from the diaspora, that have a considerable effect on most economies. 

Diaspora remittances to Africa

Driven by economic and other challenges, a sizeable number of Africans are living and working in different countries across the world. According to research by the Pew Research Center, over 25 million sub-Saharan Africans were living …