Browsing: Africa 2021

Paddy GDP Story

GDP – not a true reflection of Africa economic growth  

Industry and Trade

What if I told you the real GDP in Africa which is projected by African Development Bank (AfDB) to grow by 3.4 per cent in 2021, could be not as effective in measuring the actual progress of the youngest continent on the planet? 

The Gross Domestic Product (GDP) a measure of economic growth was developed by an American, Simon Kuznets in 1934 in the modern concept; however, its original concept emerged in Europe between 1654 and 1676, which was a gruesome period for Africa, driven into the onset of the trans-Atlantic slave trade which ended in the 19th century. 

Several discussion panels have taken a keen interest in finding out the drawbacks of GDP, including one led by Nobel economist Joseph Stiglitz (commissioned by former French President Nicolas Sarkozy) that found the measure had serious holes, saying “it is time to replace gross domestic product with real metrics of well-being

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Agritech Africa Source IT News Africa

Start-ups in Africa: Understand what sparked the first funding decline

Business

Africa making huge moves to advance rapidly within the realms of social impact entrepreneurship and innovation.

From smart environmental solution based in Dar es Salaam Tanzania to e-learning innovations in Cape Town, South Africa are filled with rather interesting operations that will levitate the region in the coming decades.

The continent has rather made some great strides over the past years, having platforms such as The Next African Start-Ups program launched in 2018, connecting entrepreneurs with potential investors, financial institutions and policymakers—catering all necessary items for their growth and introduction of fresh services and technologies that will improve lives of people across the region.

Despite the year 2020 being a record market for investment into the African tech startup ecosystem. Whereby more money was raised from a large pool of investors compared to other years before, 2021 came with a dark cloud.

According to information from Bloomberg News which cited …

Central Bank of Tanzania News Central

Report Insight: How Tanzania economy closed off 2020

Countries

Tanzania central bank last week produced a monthly economic review for December 2020, which depicted rather a range of issues, for instance on revenue performance being broadly in line with the 2020/2021 target.

Inflation

According to the recent report, the annual headline inflation slightly eased to 3.0 per cent in November 2020 from 3.1 per cent in the preceding month. The central bank argues that this was largely attributed to the slowdown in food inflation, stable exchange rate and moderate oil prices in the world market.

Hence, the inflation rate remains within the regional benchmarks and is below the country medium-term target of 5 per cent.

“On a month-to-month basis, headline inflation increased to 0.3 per cent in November 2020 compared to a rate of negative 0.1 per cent in the previous month and 0.5 per cent recorded in the corresponding period in 2019. Inflation is projected to remain in …