Sunday, May 26

Business

Digital divide
  • There is urgency in halting the digital divide in Africa as this is vital in promoting inclusive growth, alleviating poverty, and generating more jobs through the digital economy.
  • Kenya is setting an example by ensuring all its buildings are fiber-optic-ready.
  • Digital automation in trade has proven to be a valuable asset in safeguarding Africa’s social and economic growth.

Digital Divide in Africa

Digital divide in Africa has been exacerbated over the years and, the urgency to halt it is vital in promoting inclusive growth, alleviating poverty, and generating more jobs through the digital economy.

Africa, with a population of 1.4 billion, currently has only 473 million internet users, representing a 36 per cent penetration rate and a mere 5 per cent fixed broadband penetration due to limited undersea connectivity. This leaves the continent lagging behind other regions regarding digital infrastructure, a critical component for economic growth.

African policymakers should capitalise …

Read More
Digital-Infrastructure-Investment.
  • Kenya lands $ 1 billion investments for digital Infrastructure investment from Microsoft and G42.
  • Among the top priorities is the construction of a green data center. This facility is to be built by G42 and its partners.
  • The initiative will enhance internet connectivity through investments in marine and terrestrial fiber cable infrastructure.

During Kenyan President William Ruto’s visit to the US, Tech giant Microsoft & G42, an Emirati AI company, announced a $1B investment in Kenya to support its digital transformation.

This initiative, undertaken in collaboration with the Republic of Kenya’s Ministry of Information, Communications, and the Digital Economy, is a milestone in the region’s technological advancement.

The collaboration will invest an initial $1 billion to support different components of the initiative.

Among the top priorities is the construction of a green data center. This facility, to be built by G42 and its partners, will host Microsoft Azure services in …

Short-Term Rentals in Nairobi
  • In the past two years, short-term rentals in Nairobi have been the new trend.
  • Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023.
  • Trappler highlights that hospitality is a key economic driver, employment creator, and focal property type in regions throughout East Africa.

Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023. This resurgence is particularly notable in Nairobi, especially with the renewed demand for short-term rentals.

The strategic position of Kenya’s capital city serves as an East African hub for various industries, including corporate, government, MICE (Meetings, Incentives, Conferences, and Exhibitions), embassies, and tourism, which makes it an attractive destination for hospitality and residence brands.

The increasing and diversifying demand for accommodation creates meaningful opportunities for market expansion and business growth.…

President Samia Tanzania Royal Tour

Contrary to her predecessor, President Samia’s pro-business approach has yielded impactful results, paving the way to a prosperous investment journey for Tanzania. President Samia’s administration spent the first year and ten months dealing with various drawbacks that hurt the nation’s ability to market its investment potential to the world.

The government of Tanzania has done away with an unfriendly taxation system, complexity in issuing work permits to foreigners, and trade setbacks. Consequently, Tanzania’s pro-investment approach caught international economic analysts’ attention, including global credit rating, research and data, and Moody’s.…

BRICS Summit 2023

The BRICS countries bear a profound responsibility amid a shifting global economic axis. They have the extraordinary chance to reshape the world order, bestowing more significant equity and amplified voice upon the realms of the Global South.

A defining moment in the global economic axis awaits as the BRICS Summit 2023 gathers in South Africa. It signals the member countries to seize this opportunity to shape an unprecedented global economic governance system, an inclusive, all-encompassing, and efficient system.…

Drc artisinam colbalt mines

Cobalt mining in the Democratic Republic of Congo (DRC) remains crucial in meeting global demand due to its usage in electric vehicle batteries and electronic devices.

However, the industry is marred by grave human rights abuses, including unsafe working conditions and child labour. Efforts must be made to reform mining practices and address the challenges associated with informal or artisanal mining sites.…

President Ahmed Bola Tinubu removes Nigeria's fuel subsidy

At his inauguration, Nigeria’s new president, Bola Ahmed Tinubu, announced that his administration would do away with the fuel subsidy. The announcement resulted in a spark in prices and long queues in Nigeria as people rushed to buy fuel before the price increase when the policy took effect on July 1.

When the policy to remove Nigeria’s fuel subsidy takes effect, fuel prices in Nigeria are expected to jump from the official pump price of $0.4 to between $0.76 and $1.18. According to the United Nations, Nigeria’s rise in fuel prices will have widespread economic ramifications for over 133 million citizens plagued by multidimensional poverty.…

Africa's blue economy

On June 8th, African economies joined the world in marking World Oceans Day under the theme ‘Planet Ocean: Tides are changing. Africa, the second largest continent in the world by land mass and population, borders the Mediterranean Sea to the north, the Red Sea to the northeast, the Indian Ocean to the east, and the Atlantic Ocean to the west. These territorial waters, if nurtured, could contribute significantly to Africa’s blue economy. …

Subscribe to Our Newsletter

STAY INFORMED

Unlock Business Wisdom - Join The Exchange Africa's Newsletter for Expert African Business Insights!

Stay ahead of the game with our weekly African business Newsletter
Recieve Expert analysis, commentary and Insights into the enviroment which can help you make informed decisions.