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Browsing: Sub-Saharan Africa
Spanish delivery firm Glovo, in a bid to expand its geographical reach within Kenya, has officially launched its service in Kenya’s second largest city, Mombasa.
The move will now see residents of Mombasa experience faster on-demand deliveries on categories such as food,groceries, drinks and courier services from different outlets within the town.
READ ALSO:Glovo now eyes bigger share of African market
Glovo already has partnerships with outlets such as Chicken Inn, Java House and Naivas supermarkets which operate in Mombasa.
Speaking during the official launch of the new city, William Benthall, Glovo’s General Manager for Kenya, expressed his optimism towards the new venture.
“Our expansion to Mombasa was informed by our wider goal to have a presence in all the towns in the country,” said Mr. Benthall, “We are continually onboarding more partners so as to serve our customers better and offer the best delivery services …
Pan-African financier that exclusively supports the development of the housing and real estate sector in Africa, Shelter Afrique, has urge governments to establish a housing microfinance fund to improve access to housing finance by those in the lower end of the market.
Speaking at the Affordable Housing Investment Summit in Nairobi recently, Shelter Afrique’s Chief Executive Officer Andrew Chimphondah said most policies had an exclusive urban focus, and non-consideration of the low-income groups and the rural areas.
According to Shelter Afrique, establishment of such a fund would make it easier to facilitate efficient and inclusive housing market systems and make affordable housing a reality across Africa.
Currently, 90 per cent of Africans cannot afford to buy a house or qualify for a mortgage.
READ ALSO:AfDB to inject more millions to support affordable housing in Africa
“Access to adequate housing for low-income earners is a critical development issue globally and …
After more than three years of waiting, the Nairobi Securities Exchange (NSE) has received regulatory approvals to proceed with the launch of the derivatives market.
This follows the successful conclusion of the Derivatives Market Pilot Test and subsequent submissions to the Capital Markets Authority (CMA) and the Central Bank of Kenya (CBK).
READ:Investors to commence derivatives trading at Nairobi bourse
NSE now sees the launch of the Derivatives Market as a significant milestone in the growth and deepening of the country’s’ capital markets and the wider Kenyan economy.
“Derivatives Markets provide new opportunities to investors, enabling them to better diversify their portfolios and allow for the efficient deployment of capital. Furthermore, through the Derivatives Market, investors will be able to form expectations about underlying assets in order to manage the price risks,” NSE Chief executive Geoffrey Odundo has noted.
This initiative makes the NSE the second African Exchange to …
Glovo, one of the world’s fastest growing delivery players has announced a USD169 million Series D funding round, led by international venture capital firm Lakestar, as it plans to expand its operations in Africa.
The start-up, which recently launched in Nairobi, will use this injection of funding to bolster its growth within the Sub-Saharan Africa market.
READ:Investing in Kenya’s logistics space
Priscilla Muhiu, the firm’s head of marketing for Sub-Saharan Africa says the move aims at improving their response to customers.
“Glovo is committed to taking its tech capabilities and systems to the next level. We will use this opportunity to grow our team of tech experts to create a smarter and more efficient experience for customers and reduce waiting time for Glovers,” said Mrs. Muhiu.
“We also intend to expand our footprint across Sub-Saharan Africa, with new operations in Ghana, Nigeria and Tanzania,” she added.
Glovo hopes to …
Three years past the crisis period, economies are still performing poorly
The growth story in Sub-Saharan Africa in the past few years has been one of faltering recovery from the worst economic crisis of the past two decades.
This remains the case according to the World Bank’s April 2019, 19th edition of Africa’s Pulse, which estimates GDP growth in 2018 at a lower-than-expected 2.3 per cent, with a forecast to 2.8 per cent in 2019.
“Three years past the crisis period, we should be seeing a more widespread pickup in growth; instead we have downgraded our estimates again for 2018,” said Gerard Kambou, World Bank Senior Economist for Africa, “Leaders in Sub-Saharan Africa have the opportunity to build stronger domestic policies to withstand global volatility – and now is the time to act.”
The report notes that the three largest African economies—Nigeria, Angola and South Africa—play a big role …