Browsing: Africa

• Africa’s growth prospects are among the highest in the world according to IMF
• H.E. Sultan Bin Sulayem, Group Chairman and CEO of DP World Group says African countries should work to provide opportunities for business success by enacting legislation, laws and policies to attract major investments.
• He says Dubai is committed to expanding its presence in Africa because of all the ingredients it possesses that stimulate the building of sustainable companies

H.E. Sultan Bin Sulayem, the Group Chairman and CEO of DP World Group speech at the Expo 2020 resonates with the Chinese proverbial saying the best time to plant a tree was 20 years ago and the second-best time is now- contextually put this when he offered insights on what Africa potentially can provide as far as investment and areas of partnership are concerned.

Speaking during a session titled Partnerships for Prosperity, at the Global Business Forum Africa …

PAGA, a payment processing company in Nigeria (similar to PAYPAL) started by Tayo Oviosu in 2009 is on track to potentially be the next unicorn as it processed $2.3 billion worth of transactions in 2020 and $8 billion during the past four years. The company is now expanding into Ethiopia and Mexico as part of its global growth plan.

Another future unicorn is CNG TRANSFER founded during the pandemic by Emmanuel Tochi and Vincent Omulo, a Nigerian and Kenyan, respectively. The startup’s flagship product is www.Transfy.io – a cross border intra-African money transfer platform built on blockchain enabling Africans to transparently move money from one country to another at no cost. Within a year of launch, they have already processed 100 million of Kenyan Shillings in Kenya alone while operational in Nigeria, Zambia, Botswana, South Africa, Rwanda and Ghana.…

• The cost associated with policy instability and unpredictability is often passed down to consumers
• In 2020, the manufacturing industry in Africa experienced reduced demand and depressed production capacity

The biggest challenge that the manufacturing industry faces in Africa is unpredictable business environments.

This is according to the Chief Executive Officer of Kenya Association of Manufacturers Phyllis Wakianga who says the sector is faced with unpredictable fiscal and regulatory policies that discourage the industry from scaling up their businesses.

She adds that the situation also leads to investors seeking more suitable, predictable and secure markets to relocate their businesses.

“Unfortunately, the cost associated with policy instability and unpredictability is often passed down to consumers, whose spending power has been crippled by the ongoing pandemic,” he says in an exclusive interview.

Wakianga also reveals that such instability is a blow to manufacturers, who are struggling to reduce costs, in a highly uncertain …

Africa is also moving to mechanize agriculture offering another avenue for heavy investment for technology-rich UAE. Investing in mechanizing Africa’s farms also goes to investing in the world’s food security and alleviating poverty, all of which are priority UN Sustainable Development Goals (SDGs). 

Then you have the energy and mineral sectors; Africa, and in particular East Africa, has been the site for the world’s most recent offshore oil and gas discoveries. The potential is immense; however, here we must point out the equally lucrative and much more sustainable opportunity to invest in renewable energy. Africa offers vast expanses of huge wind and solar potential that can be harnessed to power the continent and beyond. …

Across the region, agriculture has been a crucial economic activity that has to levitate communities’ economies and promote some major changes, in farmer’s lives. 

Farming has changed significantly over the past decade. This change has not occurred or is being adopted evenly across the globe. Europe, North, South America, and Asia have been developing and utilizing agriculture mechanization quite fast. 

However, the latter has not been active in sub-Saharan Africa for a while. For the record, farming practices present during the 1960s when most of Africa, was liberating itself from colonial hands, are largely being divorced currently. …

Long gone are the days you hear of Africa and envision mud huts and malnourished babies.  Well, maybe long-gone is an over-statement because these unfathomable pasts are buried in very shallow time graves and ever threatening to re-emerge and haunt the continent again.

It is for this very reason that Africa, and its trade and development partners must harness the continent’s technology potential and put innovation at the forefront of every nation’s development agenda.

Why? For Africa, it is how the continent will keep those shallow graves buried and build a bright, healthy future and for the world—well, Africa is the market of the future. Just to bring this market into perspective – as of January 2021, in the heat of the global pandemic, African tech business enterprises have raised US$940 million, making the continent the strongest market for technology worldwide.

Impressive, right? While many on the continent may still …

The Spanish on demand delivery platform Glovo is on course to conquer Africa’s online delivery business space as it continues to become a major thing.

This is after the company announced its plans of expanding Glovo services and operations to include Ghana and Tunisia, bringing its current operations to a total of seven countries on the continent.

Earlier this year, the Spanish on demand delivery platform launched its service operations in Accra in Ghana, and in the following month it saw extending the service to the city of Tema, and it expects to launch in Tunis in Tunisia next month [October].

Also Read: Glovo expands in Kenya

we take it completely for granted that you can push a button on your smartphone and something happens nearly instantly in the real world.

This trend is fast expanding to all sorts of use cases due to our ever growing need for instant …

These include digitising key trade processes at a national level followed by linking these at a regional level and supporting policies to promote e-commerce across the Continent.

Also in the agreement is developing regional value chains and investment; and developing Africa’s cross-border trade with a focus on women traders, youth and MSMEs.…

The Moroccan government is now shifting focus to developing its south which in other words was neglected development wise.

The south of Morocco, has largely benefitted the country from its number of natural resources which includes Pelagic fish, solar power, and mineral reserves hence the government’s efforts to transform this region will not only improve the living standards of its citizens but also open new business opportunities.

With some of the richest fishing waters in the world, desert and coastal scenery, and opportunities for agricultural development and mining exploration, Morocco’s southern provinces have solid resources on which to base growth.

Phosphate reserve which is found in the southern region produced nearly 2 million tons to the Moroccan economy in 2018 according to Forbes.

The government is on target to transform the region from being resource-based to a wider development framework. The new ambitious development model for Morocco consists of a …

With the sixth edition of the Global Business Forum Africa event series set to run this year from October 13–14, 2021 in the United Arab Emirates (UAE), businesses from Africa are increasingly looking at Dubai as a gateway for them to expand into markets across the GCC, Asia, and Europe.

Dubai’s focus on the African continent has been evident through GBF Africa, which aims at bringing the trade and investment community back together to explore bilateral trade opportunities between Dubai and Sub-Saharan Africa.

This year’s Forum is held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

UAE has served as a hub that global businesses have used to launch and run their operations in the African continent for a number of years now.

According to  Dubai Chamber of Commerce and Industry’s Director of …