Browsing: Africa

• The annual meeting for the African Development Bank Group will be held in Accra, Ghana, from May 23-27, 2022
• The theme for the AfDB 2022 meeting is Achieving Climate Resilience and a Just Energy Transition for Africa
• This year marks the 57th AfDB Annual Meeting of the Bank Group’s Board of Governors and the 48th Meeting of the African Development Fund (ADF), the concessional arm of the Bank Group
• The Bank will launch the 2022 report for the African Development Bank’s African Economic Outlook during the annual meeting

The annual meeting for the African Development Bank Group will be held in Accra, Ghana, from May 23-27, 2022.

This is the first meeting in two years to be held in person since the COVID-19 pandemic hit Africa. The previous two meetings have been held virtually. This year, however, will be both physical, which will take place at the Accra International Conference …

• Initial predictions about Africa’s vulnerability to Covid-19 indicated that the continent would be overwhelmed by the effects of the pandemic
• Not only has Africa harnessed previously unrecognized power to help combat COVID-19, but it also provides indications that can be used to counter future pandemics.
•  Despite the significant economic disruptions caused by the Covid-19 outbreak, Africa’s economies are leading as a resilient continent with enormous promise.
• African start-ups raised US$1.8 billion in the first quarter of 2022, which is 2.5 times the capital raised in Q1 2021

Initial predictions about Africa’s vulnerability to Covid-19 indicated that the continent would be overwhelmed by the effects of the pandemic. Critics had argued that the continent’s medical and economic sectors would feel the heat both during and after the pandemic.

However, these worrying predictions concerning the continent and its vulnerability to the Covid-19 pandemic have largely gone unrealized. Globally, Africa accounted for a …

• The South African learning institution report has said it will issue blockchain-based certificates to its graduates in 2022
• The report further explains that each qualification document given by the University of Johannesburg will have a QR code to verify its authenticity
• The blockchain-based system is unique because it allows third parties, such as prospective employers, to verify a graduate’s certificate

Africa faces a crisis of insufficiently qualified university graduates, predominantly because of three significant factors. There is a lack of enough universities to administer high school graduates in the continent, a higher preference for overseas education and fake certificates that trash the ability to discern genuine qualifications in the market.

Blockchain technology in University degrees

However, the University of Johannesburg, A university-based in South Africa, has induced blockchain technology in its system to help counter the last setback.

The University has said it will issue blockchain-based certificates to students graduating …

The governor of Lagos State, Babajide Sanwo-Olu, was the special guest of honour at the digital launch and reception to mark the landing of Equiano sea cable systems in Nigeria.

Nigeria marks Equiano’s second stop in Africa after Togo, with future landings expected in Swakopmund, Namibia, and Melkbosstrand, South Africa.

While speaking at the digital launch, Juliet Ehimuan, Google’s business strategy director in West Africa, said that the cable leverage state of the art technology to provide approximately twenty times more network capacity than the last cable built to serve the region.…

• A blockchain is a distributed ledger that is open to a group of selected participants to store, share and alter decentralized data
• If a new block is added to a blockchain, all the users in all the blocks must confirm the information added for the block to be valid
• Blockchain technology could be of immense importance in Africa to maintain medical records, protect land ownership and secure government records

The primary technology behind cryptocurrencies is blockchain technology, allowing traders and clients to reach a consensus without necessarily trusting each other.

But over time, owing to its excellent security status, the technology has gained substantial mainstream attention and is steadily seeping into education, health and governance, among other sectors.

A blockchain is a distributed ledger that is open to a group of selected participants to store, share and alter decentralized data. In simple terms, a blockchain is a chain of blocks …

Within the service industry, 4IR creates a potential for new goods and processes enabled by technology. As demand develops in lockstep with income, possibilities exist as African countries resume economic growth. Because technology complements rather than replaces labour in many service industries where formal companies and employment dominate, the adoption of technology should develop new formal wage positions for young and educated job seekers.

Adoption of 4IR technology may also result in improvements in job quality (e.g., earnings, income security) in the large non-farm informal sector (63 per cent of total employment)—for example, by the use of online stores and channels to find customers and satisfy their needs safely and efficiently.…

• The African continent receives only 2 per cent of the total global value of all cryptocurrencies.
• Chainalysis ranks Kenya, South Africa, and Nigeria as three of the top ten countries for cryptocurrency adoption globally
• Many African countries have overlooked this financial innovation, maintaining cryptocurrency exchanges while failing to provide a regulatory framework or allowing trading but not providing an exchange for their citizens.

The development in internet access in sub-Saharan Africa has brought with it new technologies such as cryptocurrencies and blockchain that have the potential to enhance and significantly revolutionise financial and economic sectors.

The African continent receives only 2 per cent of the total global value of all cryptocurrencies. In February 2022, CoinGecko estimated the crypto market to be worth US$2.04 trillion, translating to a US$40 billion African market worth.

The rapid growth of crypto in the continent will profoundly impact the financial sector in sub-Saharan Africa, which …

• Banks and shareholders are putting pressure on miners to enhance their environmental standards; They strive for net-zero carbon emissions at direct mining operations and value chains
• Historically, the sector has been responsible for many worker accidents and fatalities. As a result, it would be simple to dismiss the entire industry as an ecologically and socially unsustainable remnant of the industrial past
• South Africa’s future of sustainable mining methods is considered a bellwether for the most significant African sector since it is the continent’s largest centre of mining activity

The mining sector is under increasing pressure to embrace more ecologically and socially sustainable African methods. With lenders and investors requiring reductions in greenhouse gas emissions, pollution and advancements in the workforce and community well-being, there is a widespread perception that it is in the industry’s best interests to adopt more responsible practices to increase productivity and avoid negative publicity.

The mining …

The takeover of MainOne and Digital Realty is but a tip in the growing startup iceberg. In recent years, the continent has witnessed the creation of a significant number of startups, many of which have proven to be heavily lucrative. “Technology-savvy younger people have established kinds of enterprises that we have not seen before,” Ngozi Okonjo-Iweala, the World Trade Organization (WTO) director, says. They are supporters of Flutterwave, InstaDeep, and Copia International.

The valuation of these African startups is increasing, as is the appetite of foreign traders, mainly venture capital firms from the United States, Europe, and even Asia. They have attracted a total of US$5 billion so far this year. In terms of fundraising, 2022 has gotten off to a strong start for these businesses, with the significant milestone of US$1 billion being reached between January and February.

Nonetheless, the current change is raising key concerns, such as whether …

The meat-alternative market is taking advantage of climate change awareness, and the messaging has changed accordingly, particularly as these products enter the mainstream.

“We can see what many brands’ marketing strategies are – they used to market just to vegans and vegetarians – why not advertise it to everyone and call it the healthy burger?” says Will.

“Now, when non-vegans try some of the products on the market, they are surprised by the quality, they say ‘this is amazing and can’t believe it’s plant-based and environmentally friendly.”

Indeed, this shift in messaging is reflected in the advertisements of large retailers introducing meat-alternative products.

Burger King, which recently launched plant-based Whoppers, Royale’s and Nuggets in South Africa, highlighted the health and environmental awareness prominently in press releases and advertisements.…