Browsing: Corruption Perception Index

Kenyan businesses and the threats of cybersecurity and corruption
  • Cybersecurity, corruption, and policy shifts have been cited among the top issues that Kenyan businesses will have to confront in 2024.
  • In 2022, Kenya suffered a loss of at least $153 million to cybercrime, which is projected to rise by 14 per cent annually.
  • A new report ranks Kenya as the second most difficult country for businesses in EAC after South Sudan.

Cybersecurity, corruption, and policy shifts have been cited among the top issues Kenyan businesses will have to confront in 2024.

The latest Risk Barometer by underwriting giant Allianz, reveals that in Kenya’s complex and dynamic business environment, several challenges loom, casting shadows on the entrepreneurial spirit that drives the economy.

The high cost of living directly impacts consumer spending, affecting businesses across sectors. A weakening currency coupled with inflation also threatens businesses and the economy.

According to Allianz Commercial CEO Petros Papanikolaou, the key challenges for companies …

  • In 1923, South Africa had over 40 municipalities and 18 private companies, each struggling to dominate the industry.
  • Despite the efforts of the SA government to ensure no severe loss, the power outages alone have caused its economy’s GDP to reduce by 1.3%.
  • Eskom is about $25.6 billion in debt, which stems from its days as Escom.

Eskom’s corruption and inability to provide suitable power is plaguing South Africa’s economy. The persistent power shutdowns, or load shedding as it is known in South Africa, has significantly hindered the country’s economic growth despite steadily leading Africa’s technological revolution. While weathered power plants have contributed to the meltdown, corruption has been the single biggest contributor to the current power crisis.  

South Africa is the most industrialized country in Africa. According to Statista, South Africa had the second-highest GDP in 2021 and pioneered Africa in the 4th Industrial revolution. Unfortunately, it is also

Botswana and Namibia to build a mega solar-power project - The Exchange

According to a report by the World Economic Forum on Africa, mega-solar projects – large-scale installations capable of producing upwards of hundreds of megawatts of power – are generating much-needed electricity in countries all over the world.

In sunny Southern Africa, however, the report says, a historic lack of public-private partnerships outside of South Africa and, until recently, Zambia, to develop such projects has left much of the region’s vast solar power potential largely untapped.

But Botswana and Namibia are poised to change this trend, the report says. The two neighbouring countries will be supported by the World Economic Forum’s Global Future Council on Energy – which includes organizations such as the World Bank Group, International Finance Corporation (IFC), African Development Bank, Africa Renewable Energy Initiative, New Partnership for Africa’s Development, the International Renewable Energy Agency (IRENA), and the US government-led Power Africa initiative to realise this dream.

“This multi-phased …