Browsing: Africa economic growth

• The concept of storing, receiving, and sending money despite geographic area paved the way for decentralized currencies
• Mobile money’s remarkable success and high adaptability rate is a core secret behind Africa’s immense mobile industry
• Various governments, such as Nigeria, have taken advantage of its rapid smartphone adoption and implemented a digital National ID system

Various companies’ and organizations’ innovations and struggles have paved the way for Africa’s digitalization. Today, Africa is renowned for its technological prowess and high rate of local talent who have showcased their technical prowess.

Many individuals need to realize that one key attribute that has led to the rapid growth of Africa’s digital economy is its Mobile Industry. The innovations of the smartphone have birthed plenty of new jobs today, benefit not only itself but other industries as well.

Here is a deep dive into one of the fastest-growing industries within the continents’ ecosystem; the Mobile …

• Nigeria is mostly reliant on petrol but it is also a developing market, with expanding service, financial, technology industries, and communication
• GDP can help investors make investment decisions because a weak economy frequently indicates lesser earnings and stock values
• South Africa’s economy is well-diversified and it relies on a variety of sources for its stability

While there are a variety of approaches for comparing different countries’ wealth, one of the most effective is to examine the individual country’s gross domestic product, also known as GDP.

During a given period, the gross domestic product (GDP) of a country is the conventional metric of value-added via the production of goods and services in that country, as measured by the United Nations. The amount paid on finished goods and services, as well as the amount of income produced from that output, is included in this calculation (fewer imports).

The Gross Domestic Product …

Economic activity in East Africa is estimated to have declined to a growth of 0.9 percent in 2020 from 6.6 percent in 2019 and is projected to recover to a growth of 3 percent in 2021.

This is revealed in Deloitte’s East Africa Economies Report 2021 which attributed the expected growth to the projected increase in private consumption and domestic demand after the easing of travel restrictions and roll out of COVID-19 vaccinations.

The report shows that massive job losses, disruptions in food value chains and multiple shocks of desert locusts saw an additional 30 million Africans pushed into extreme poverty in 2020.

“About 39 million more Africans could fall into extreme poverty in 2021 if governments do not intervene with food relief measures,” it reveals.

The report puts loss of jobs in 2020 at 30 million, 10 million higher from the previous forecast of 20 million in Deloitte’s previous …

It is nature that is going to save us, yes, nature.  

The rich arable lands of Tanzania, the recycling business potential in Nigeria and Kenya, and the sustainable-architectural business models in Rwanda and South Africa are few angles that the World Economic Forum (WEF) finds to be vital in channeling better economic solutions and resilience. 

This thinking-approach emanates from the second report (of three), The Future of Nature and Business by the WEF which provides practical insights necessary to steer economies around the world towards a nature-positive economy. 

It is safe to say the Coronavirus (COVID-19) pandemic has given rise to a lot of ideas towards rethinking and developing sustainable economy approaches. 

As job losses and economic uncertainty hurt economies and livelihoods, nature-centred economic approaches seem to carry the necessary incentives to accommodate the global community’s needs. 

“As governments and businesses look to stimulate growth, a new …

Africa’s real GDP is projected to contract by 1.7 per cent in 2020, dropping by 5.6 percentage points from January 2020 pre-COVID–19 projection.…