Browsing: digital economy in Africa

• The Africa Fintech Accelerator program has increased the number of women-led startups
• The Accelerator program, launched in June 2023, is aimed at uplifting the digital economy in Africa
• The list, is majorly dominated by West and Central African states that command 11 enterprises.

Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program.

Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made it to the shortlist. Tanzania got two representatives and Ethiopia also got one.

The list is majorly dominated by West and Central African states that command 11 enterprises. While Southern Africa only has three two from South Africa and one from Zambia.

According to the digital payments firm, Cohort 2 startups operate across 28 African countries, a 55 per cent increase from Cohort 1 where the representatives operated across 18 countries. …

• The concept of storing, receiving, and sending money despite geographic area paved the way for decentralized currencies
• Mobile money’s remarkable success and high adaptability rate is a core secret behind Africa’s immense mobile industry
• Various governments, such as Nigeria, have taken advantage of its rapid smartphone adoption and implemented a digital National ID system

Various companies’ and organizations’ innovations and struggles have paved the way for Africa’s digitalization. Today, Africa is renowned for its technological prowess and high rate of local talent who have showcased their technical prowess.

Many individuals need to realize that one key attribute that has led to the rapid growth of Africa’s digital economy is its Mobile Industry. The innovations of the smartphone have birthed plenty of new jobs today, benefit not only itself but other industries as well.

Here is a deep dive into one of the fastest-growing industries within the continents’ ecosystem; the Mobile …

IFC in cooperation with L.E.K. Consulting released a new report showing the demand for digital skills in Sub-Saharan Africa is expected to grow at a faster rate than in other markets.

The report estimates that 230 million jobs in Sub-Saharan Africa will require digital skills by 2030, presenting investors and education operators with an estimated $130 billion opportunity to train the future workforce in digital skills. IFC launched the report, ‘Digital Skills in Sub-Saharan Africa: Spotlight on Ghana’, at the group’s office in Accra, Ghana. Nearly $4 billion of the opportunity in digital skills will be in Ghana.

The report sheds light on the crucial need for digital skills as a driver of economic growth and competitiveness across sectors in the region—from agriculture to services. The demand for digital skills is evolving and presents opportunities for different stakeholders to play a role, particularly the private sector.

The report finds …