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• Bharti Mittal is the Founder and Chairman of Bharti Enterprises, one of India’s foremost first-generation corporations.
• It has interests in telecom, space communications, digital solutions, insurance, foods, real estate and hospitality.
• Bharti Airtel, the flagship company of Bharti Enterprises, has operations in 17 countries. It ranks amongst the top three mobile operators globally.

Sunil Bharti Mittal, an Indian business magnate and philanthropist, was in Kenya last week managing a significant announcement by Airtel Kenya, a division of Airtel Africa.

During his visit, Airtel Kenya announced plans to expand its network coverage to meet the growing demand for data services in the country. The new expansion will add 349 sites into its infrastructure network by December.

What’s more, an additional 300 sites are in the pipeline, the management added. The new investment represents the company’s commitment to enhancing connectivity and improving service quality.

We aim to bridge digital divide—Bharti Mittal

The …

• Corruption, inadequate mining laws, and crackdowns on artisanal gold miners are fueling trade in conflict minerals.
• Cut-throat competition for control of the profitable mineral is to blame for killings and exploitation of people.
• Armed groups in Burkina Faso, Mali, and Niger are terrorizing gold-mining communities by levying taxes in the pretext of offering protection.

West Africa is becoming a hub for the trafficking of conflict minerals partly because of rampant corruption, inadequate mining laws, and ongoing crackdowns on artisanal and small-scale gold mining (ASGM) operations.

Conflict minerals, which are mostly linked to gold rush, are fanning instability in political, economic, environmental, social, and security spheres of populations in West Africa.

Conflicts in mining zones are on the rise in gold-rich Mali and Burkina Faso and parts of Chad. This as competition for control of the profitable mineral fuels killings and exploitation of poor populations.

Gold mining has been a significant …

• The Kenyan shilling has fallen to a new low of 140.04 against the US dollar.
• Central Bank of Kenya data shows the unit is also losing to other major currencies including British Pound and Euro.
• Last year, the Kenyan shilling depreciated by about 7.5 per cent against the US dollar, the UAE dirham (7.5%), Saudi Riyal (7.4%) and the Chinese Yuan (3.1%), the Kenya Economic Survey 2023 shows.

As developing market currencies continue to suffer from the worldwide increase in interest rates, which is being spearheaded by the US Federal Reserve, the Kenyan Shilling has dropped to a historic low in relation to the US Dollar.

The Fed has increased the benchmark rate ten times in a row, or a total of five percentage points, since March of last year. In the last 40 years, these increases are the most abrupt. In an effort to combat US inflation, interest rates …

Africa’s digital transformation has caught the entire world by storm. Various countries from all four regions of the continent are each pioneering to attain dominance within the advancing digital economy. However, despite numerous inventions, one category stands out: Africa’s blockchain ecosystem.

Blockchain technology has ushered in a new industrial revolution and forever changed the continent’s trajectory. From introducing a new financial system, fintech, to operating medical databases and providing new voting systems, this new technology has broken barrier after barrier of innovation.…

Africa’s digital transformation has ushered in a new era of innovations and opportunities for ordinary people. Technology is steadily reshaping Africa’s economy, from digital currency and e-learning to Agritech. During the decade of transition, a few countries have stood at the top, each struggling for the title of Africa’s tech hub; Kenya, South Africa and Ghana.

Fortunately, innovations coincided with a vision for change in one particular Industry and an African country. Recently the rise of Nigeria’s gaming industry gave leeway to a sport that serves as a measure of financial freedom for most Nigerian youths; Esports gaming. Play-To-Earn games have taken root in the West African country, paving the way for a new economic activity.…

• Energy experts project that South Africa requires injection of no less than 6,000MW to keep industry lights on.
• The country’s severe power crisis is expected to persist until 2025. Experts say a five-year timeline is needed to overcome power outages.
• This year’s GDP will further decline to 1.2% from 2.3% in 2022, and there is a 45% chance of recession largely due to electricity crisis.

An ominous cloud hangs over South Africa economy, which dodged recession in the three months to March, as experts say the roiling electricity crisis will persist until 2025. As if that is not enough bad news to the industry, it will take about five years to eliminate power outages in the country.

Currently, South Africa is paying a huge price following utility, Eskom’s overreliance on ailing coal power plants to supply electricity. These coal power plants account for over three quarters of South Africa’s electricity …

At his inauguration, Nigeria’s new president, Bola Ahmed Tinubu, announced that his administration would do away with the fuel subsidy. The announcement resulted in a spark in prices and long queues in Nigeria as people rushed to buy fuel before the price increase when the policy took effect on July 1.

When the policy to remove Nigeria’s fuel subsidy takes effect, fuel prices in Nigeria are expected to jump from the official pump price of $0.4 to between $0.76 and $1.18. According to the United Nations, Nigeria’s rise in fuel prices will have widespread economic ramifications for over 133 million citizens plagued by multidimensional poverty.…

• Airlines across Africa are expected to fly into a combined $500 million loss this year. The loss is, however, an improvement from the combined $800 million loss suffered in 2022.
• African airlines have to navigate several economic, infrastructure, and connectivity challenges.
• Data shows Egypt, Morocco, and Ethiopia carriers have seen an increase in traveler numbers in March 2023.

African airlines are expected to fly into a combined $500 million loss this year. The projected loss is, however, a significant improvement from the $800 million combined loss sustained last year.

According to the International Air Transport Association (IATA), Africa remains a difficult market for airlines.

African Airlines smarting from pandemic

Companies have to navigate several economic, infrastructure, and connectivity challenges. These hurdles continue to significantly impact the industry, which is still smarting from the Covid-19 economic fallout.

Last year was a rough period for African airlines in the skies. …

• Several gas finds in East Africa dating decades have suffered long delays from the time they were “found”.
• Lengthy negotiations and insecurity have marred the projects, delaying a final investment decision on their development.
• Mozambique is already fighting Islamic insurgents in its gas-rich northern province, Cabo Delgado.

Economies across East Africa are losing billions of dollars in revenue every year because of key gas project delays in approving and developing liquefied natural gas investments, an analysis by The Exchange Africa reveals.

Several gas discoveries in East Africa dating decades, which were expected to power the region’s natural gas industry have suffered long delays from the time they were “found”. Lengthy negotiations, and insecurity have marred the projects, delaying a final investment decision (FID) on their development.

Mozambique’s gas finds

Take Mozambique, a regional economy of $41 billion GDP, for example. Mozambique reported huge gas finds in the 2010s. Industry …

• With tightening monetary policies globally, many African economies are struggling with falling forex reserves.
• Low reserves have sent governments back to the drawing board strategising on how to survive future trends while balancing trade.
• With this, leaders and policymakers in Africa are engaging in the de-dollarisation conversation.

Kenya has sent a strong message to economies in Africa on the need to accelerate dedollarisation of cross-border trade, further amplifying the global conversation on reducing reliance on the US dollar as the main mode of payment.

For over a decade, China and Russia have sought to drastically lower their usage of the US Dollar in what is commonly referred as “dedollarisation”.

This is in a move intended at shielding their economies from possible trade-limiting US sanctions. The strategy also reduces their exposure to adverse effects of US economic and monetary policy, while also asserting global economic leadership.

China, Russia slowly cutting dollar