Browsing: East Africans

Students of High Point University in Nigeria. East Africa has a US$290,000 Netflix financial assistance to African creatives. www.theexchange.africa

The scholarships are a part of the Netflix Creative Equity Fund, a multi-year initiative launched in 2021 with the goal of creating a pipeline of diverse and talented creatives around the world through various initiatives.

Students who have been accepted to study in the TV and film disciplines in the 2022 academic year are eligible for the scholarship fund, which will cover the costs of tuition, housing, study materials, and living expenses.

Netflix opened the application process in the Southern African Development Community (SADC) region, where Tshikululu Social Investments serves as an implementing partner/fund administrator.

The CESF will then be rolled out across the region in the academic year beginning in 2022. East Africa and West and Central Africa also have their own fund administration partners.…

Intra-EAC trade on the decrease

East Africans should brace themselves for an increase in the cost of living as households and businesses pay more for goods and services.

Regional currencies are facing increased pressure against the dollar as increasing debt levels and increased servicing obligations threaten to wear down foreign exchange reserves, market data shows.

The projected drop of regional currencies is mainly attributed to the growing debt servicing obligations for foreign currency-denominated debts. To pay off external creditors, it requires a drawdown of the country’s foreign reserves.

According to analysts at AIB Capital, as a pick-up in consumer demand increases imports, the Kenya shilling is expected to further depreciate against the dollar. The country’s exports are likely to remain relatively uncompetitive therefore, this will lead to an increase in the current account deficit.

“We expect the shilling to gradually depreciate against the dollar but remain relatively unchanged against the euro and pound,” said AIB.…