- In Kenya, waiters in restaurants can now turn tips into savings
- African currencies under pressure on US interest rates
- How Kenya is growing tourist numbers from the Middle East
- Africa Climate Venture gets $1.08M from FSD Africa
- The rise and rise of Africa’s art market
- Puzzle of Kenya’s low forex reserves amid huge debt obligations
- Kenyan startup Eldohub linking tech talents with SMEs
- Mombasa startups reducing marine plastic waste win $50,000
The implications of fragmentation and polarization on Africa’s economic growth and whether these trends will continue are unknown. What is certain is that multilateral organizations will need to continue encouraging international dialogue to promote economic integration and collaboration. As a result, one problem that emerges is whether African nations would adopt a unified stance or take a non-aligned approach in the Sino-American dispute.…
- Deal Source Africa connects African businesses online with investors, transaction advisors and Impact Funds.
- Experienced transaction advisors will link with businesses to provide professional support along their fundraising journey.
- During the pilot phase, the program enabled 94 businesses to connect with 18 investors in deal rooms.
A new programme seeking to connect African businesses online with investors, transaction advisors and Impact Funds has been unveiled in Ghana at the West Africa Deal summit. The programme, Deal Source Africa, comprises a digital platform that connects investors with businesses, in-person and virtual deal rooms where businesses can meet investors.
Deal Source Africa seeks to bridge the $331 billion funding gap for African SMEs. Top on target will be SMEs with high growth potential and offering solutions that help meet their business needs.
It also includes Impact Fund showcases where investors can meet African venture funds and other local capital providers.
Governments can play a crucial role in enhancing agricultural productivity in Africa for economic growth. Individual nations can accomplish this by establishing policy environments to promote agricultural investment, including providing tax incentives and subsidies to producers. Governments can also prioritize agricultural development in their national budgets by allocating a more significant proportion of their resources to the sector.…
China’s reduced lending to Africa has raised concerns about the future of Africa’s economic development and its relationship with China. The reduction in lending is due to a combination of factors, including the slowdown in the Chinese economy, the growing debt burden of African countries, and China’s increased selectivity in its lending.
The reduced lending has several implications for Africa’s economic future. African countries must find alternative sources of financing, a shift towards domestic resource mobilization, a change in the balance of power between China-African relations, and a potential slowdown in infrastructure development. African countries must navigate these changes carefully to ensure sustainable economic growth in the coming years.…
Given these large costs and the effect on Africa’s economic growth, it remains imperative to prevent the prevalence of conflicts. Several economic and structural factors, including low-income levels, poor growth outcomes, weak governance, state capacity, and inequality of opportunity—especially across ethnic, religious, and regional groups—increase the likelihood of conflict. Addressing these challenges would address political instability in Africa and prevent conflict.…
- The hub is a digital platform that will enable fintech associations across Africa to pool resources and knowledge, strengthen relationships and partnerships, as well as showcase the work of fintech on the continent, including those which are female-led or owned.
- The one-stop shop will be delivered through a strategic partnership between AFN and the Centre for Financial Regulation and Inclusion (Cenfri), which will provide technical support in the development of the Hub, as well as promote research, knowledge creation and other innovative initiatives.
- Although fintechs have great potential to contribute to digital financial inclusion across the continent, the African fintech sector significantly lags behind those in other regions such as Latin America and South-East Asia.
Financial Technology (Fintech) firms in Africa are set for a major boost as the African Development Bank (AfDB) and the Africa Fintech Network agreed to develop a one-stop shop for all fintech activities across the …
- The GSMA’s State of the Industry Report on Mobile Money 2023 shows adoption rates are even more significant than expected.
- Registered accounts, transaction values, and deployments exceeded industry predictions.
- In 2022, daily transactions via mobile money reached $3.45 billion, exceeding the $3 billion amount predicted in 2021.
- Total transaction value for mobile money grew by an incredible 22 percent between 2021 and 2022, from $1 trillion to around $1.26 trillion.
Mobile money services are growing faster than predicted around the globe, as digital services continue to rise in popularity, according to the GSMA’s annual State of the Industry Report on Mobile Money 2023.
The report, published annually by the GSMA and funded by the Bill and Melinda Gates Foundation, demonstrates that rates of adoption are even quicker than expected, with the number of registered mobile money accounts growing by 13 percent year on year.
This is from 1.4 billion …
The global financial landscape has undergone a remarkable transformation in recent times. Remarkably, the issue of the de-dollarization of international trade is slowly but steadily gathering momentum. A rising trend toward de-dollarization is challenging the longstanding supremacy of the United States in the international financial system. As the dominant global reserve currency, the US dollar remains pivotal in international trade, investment, and financial transactions.…
An efficient crypto mining industry can generate more job opportunities in Africa as the demand for miners, blockchain specialists, and technology specialists increases, . This encourages nations to enhance their energy and technological capacities to support crypto operations. These enhancements can considerably benefit other industries and the economy as a whole.
African nations must embrace the chance to become a crypto mining hub. This can aid in the digital economy’s growth, citizens’ financial standing, and the infrastructure for energy production. Consequently, African governments can invest in cryptocurrencies to acquire alternative funding sources for developing renewable and alternative energy sources.…
- Major African airlines have been hard hit since the Covid-19 pandemic struck.
This year is however expected to bring good tidings for the industry, albeit low profit margins.
IATA expects a return to profitability for the global airline industry in 2023, as airlines continue to cut losses stemming from the effects of the pandemic to their business in 2022.
The global aviation industry is set for a bounce back this year as airlines navigate turbulence that has shaken the industry since 2020, threatening to bring down carriers in the market.
Major African airlines have been hard hit since the Covid-19 pandemic struck.
A report by the African Airlines Association (AFRAA) indicates the pandemic hit Africa’s aviation industry in 2021, resulting in an estimated $8.6 billion loss.
While the figure was less than the $10.21 billion loss recorded by the sector in 2020, it was still a 49.8 per cent decline …