Browsing: Covid-19 pandemic

Anglo American is a leading global mining company, with a world-class portfolio of mining and processing operations and undeveloped resources, with more than 95,000 people working for it around the world, in 15 countries. This company on the 29th of July announced its intention to disburse an additional US$2 billion to its shareholders through what it described as an on-market irrevocable and non-discretionary share buyback programme of $1 billion together with a special dividend of $0.80 per ordinary share, equal to $1 billion. All in all, the company intends to return at least US$4 billion in cash to its shareholders when what the company describes as its base dividend of US$4.1 billion is considered. 

Anglo American will repurchase up to 204.3 million shares in terms of the buy-back programme that started August 12 and ending no later than 14 February 2022. The US$2.1 billion ordinary dividends is being paid out …

For almost a decade, Kenya diversified its industrial foundation under Kibaki and improved the logistical distribution especially seaport and airport which eased the penetration of goods and services within East Africa.

Nairobi remained relatively robust financially until the end of the first term of Kibaki’s successor, President Uhuru Kenyatta.…

The GSMA estimates that smartphone connections will rise to an estimated 700 million by 2025. With this growth, Kenya, Nigeria and South Africa continue to dominate e-commerce sales. 

Knight Frank notes that formal retail space across the continent is continually undergoing rapid transformation. This transformation is happening as “the entry and exit of various brands in the sector across the continent, retail outlets have had to adopt omnichannel offerings in order to ensure a measure of sustainability”.…

SMEs have been significantly impacted by the Covid-19 pandemic with its attendant lockdowns and disruptions to supply chains, plummeting sales, lost revenue and operational challenges. In response, Ecobank through its Commercial Banking Segment is helping business owners close the digital skills gap within their chosen fields and improve the digital capabilities of their employees. 

Josephine Anan-Ankomah, Group Executive, Commercial Banking for the Ecobank Group says that the pandemic has turbocharged the shift towards digital. She adds that it is essential that businesses adapt so that they are able to compete effectively in today’s rapidly changing landscape.…

AfCFTA will diversify exports, accelerate growth and it will competitively integrate into the global economy. This will increase foreign direct investment (FDI), increase employment opportunities and incomes while also broadening economic inclusion.

Projected estimates show that the FTA will increase Africa’s exports by US$560 billion with manufacturing accounting for the lion’s share. While has had limited trade within itself, the agreement will see intra-continental exports increase by 81 per cent and by 19 per cent to non-African countries.…

Sports has the ability to change the African countries’ economic landscapse by attract necessary attention especially through tourism.

A case in point is the 2010 World Cup in South Africa which cost the country nearly US$3 billion to organize but whose returns created an enormous intangible legacy and placed the country on a crucial global pedestal.

So important is the sporting sector in Africa that countries like Germany are investing in sports on the continent by targeting the youth who are an asset to the sector.…

Equity’s operations in the DRC now constitute 28 per cent of the Group by asset size signalling the company’s positive sentiment on the future outlook of the country. By virtue of the acquisition, Equity also became the largest bank by asset size at the Nairobi Securities Exchange (NSE).
Banking penetration in the DRC ranks at the bottom of regional peers, with only 6 per cent of the population holding a bank account. This presents a great opportunity for the Equity Group to leverage on its digital platform and inclusive products to penetrate the market and generate high returns. …

The AfDB notes that high commodity prices have played a role in seeing the African economy’s take off but not only so, macroeconomic policies and sustained reform have also helped improved the growth. Other key factors that have contributed to this growth include stronger governance and better conditions for private sector development.
A damper to the rallying growth of the African economy is conflict which remains a concern though incidences have declined which has reduced the contagion for neighbouring countries and boosting investor confidence in many regions. …

While African countries have acted quickly to limit the spread of Covid-19, most of them are nevertheless confronting enormous challenges as they strive to keep the pandemic under control and mobilize the financial resources needed to support health systems, protect vulnerable population groups and support the recovery.
After a contraction of 3.4 per cent in 2020-the first in 27 years and the largest on record-Africa is projected to achieve a modest recovery, with regional GDP expanding by 3.4 per cent in 2021 and 3.6 per cent in 2022. …

Over Sh600, 000 is up for grabs in the new Makueni Innovation Challenge 2021 that is seeking ideas that will bring economic recovery amidst Covid-19.

The challenge targets all youths across the country, individual, groups or institutions aged between 18-35 years with ideas that fall into the thematic area of Agriculture, Health and Trade.

The challenge has been organized by Makueni County in collaboration with other partners that include Association of Countrywide Innovation Hubs, Communication Authority of Kenya, Africa118, Africaistalking, Decoded and Liquid Telkom.

Makueni County Governor Kivutha Kibwana says the aim of the challenge is to catalyze the growth of startups, so as to amplify and consolidate the gains of the country’s digital innovative ecosystem.

Also Read: Innovation Africa: Defining technological change on the continent

“Youths must grasp the opportunities available at their disposal, and utilize them to enhance their skills to become entrepreneurs, employable and problem solvers in …