Mobile payments in August posted the largest month-on-month drop this year, coming after intensive political campaigns in July.
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.
Expanding and deepening financial markets across Africa is a central condition for the next stage of the continent's development. That is a key conclusion of the Africa Financial Markets Index.
S&P Global Ratings has affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings on the Republic of Rwanda. The outlook is stable.
Rwanda’s economic growth has been slowing down since mid-2016 resulting in a 6percent growth in 2016 and in 4.2 percent annualized growth in the first quarter of 2017.
Assets under management by black-owned asset management firms grew 1.76% from R408.3 billion in 2016 to R415.5 billion in 2017 – slower than the 32% leap from 2015’s R309.2 billion.
The Ghanaian Government, in collaboration with the United Nations Economic Commission for Africa’s Sub-Regional Office for West Africa, has launched the 2016 Country Profile for Ghana.
An analysis of seat capacity for travel to the top ten international airports in Africa, produced by ForwardKeys, reveals that Lagos is seeing substantial declines in both domestic and international capacity, mainly because Arik Air is cutting 53% of its seats for the rest of 2017.
Kenya’ private sector activity continues to contract owing to a declining output even as the business conditions recorded deteriorating performance in July according to the Purchasing Managers’ Index (PMI) survey.
It’s taken hyperscale computing a decade to steadily claim significant cloud infrastructure service market share. Initially focused on major international markets, Africa has not been a priority until recently, when large players started turning their attention to Africa.
A study on the world's fastest growing middle class, estimates that Sub-Saharan African middle class consists of over 100 million people, excluding South Africa, with an aggregate spending power of over $ 400 million per day.
More impactful business development support that provides entrepreneurs with robust business basics is needed to increase small business success rates, while a decline in youth owned businesses has emerged as cause for concern in South Africa.
Sub-Saharan Africa accounts for more than half of all mobile money deployments worldwide and is pioneering a range of new mobile money use cases, according to new GSMA data.
“The floodgates have finally been thrown open and .africa domains are now available for registration on a first-come, first-served basis."
The East Africa region attracted more than Sh113.7 billion ($1.1 billion) funds from Private Equity (PE) between 2015 and 2016, a new study has revealed.
Angola to Explore Business Opportunities in Agriculture, Dairy, Meat, Oil and Gas and Mining - Report
Angola is one of the fastest growing and most promising economies in Africa. Angola's high GDP growth is driven by high international oil prices.
Safaricom has launched eco-friendly carry bags to replace the plastic bags that the company uses in its retail shops.
The extent of the power deficit across Africa is well documented and increasing electricity generation across the continent is the focus of a number of initiatives at both national and supra-national level.
Cooperation among Africa’s development financial institutions (DFIs) is crucial for the achievement of the industrialisation of the continent, the African Export-Import Bank (Afreximbank) has said in Ahmedabad, India.
A new Country Intelligence Report by GlobalData, provides an executive-level overview of the telecommunications market in Tunisia today, with detailed forecasts of key indicators up to 2021.
Globacom has strengthened its position as Nigeria’s preferred data network by recording the highest data penetration among the four major operators in the telecommunications industry.
South Africa has made a comeback in the 2017 A.T. Kearney Foreign Direct Investment (FDI) Confidence Index, and has been ranked as the fourth most attractive investment destination in Africa according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab.
According to EY’s latest Africa Attractiveness report, heightened geopolitical uncertainty and “multispeed” growth across Africa present a mixed FDI picture for the continent.
Economic growth in Sub-Saharan Africa is rebounding in 2017 after registering the worst decline in more than two decades in 2016, according to the new Africa’s Pulse, a bi-annual analysis of the state of African economies conducted by the World Bank.
Botswana is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab.
In the African Region which alone bears 40% of the population suffering from NTDs, great strides have been made in the past years. Togo has just eliminated Lymphatic Filariasis as a public health problem.
Jumia Nigeria is pleased to present the 2017 edition of the African Mobile Trends Paper. This is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria.
[Column] Brett Parker: Between East & West, Africa's economic transformation will create a third centre of global power
What a difference a century makes. If we stepped back in time to a hundred years ago we'd find a primitive China; a Middle East that had yet to discover the riches of oil and most of Southeast Asia consisted of countries that were barely distinguishable from medieval societies.
With the cumulative loss of 4.8 million barrels in the month under review put in cost at the prevailing $55.89 per barrel for Brent crude, Nigeria is estimated to have lost over $271.8 million (N82.8 billion).
Casablanca and Nairobi rank leading destinations for Fortune 500 companies establishing international headquarters
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.
When Vodacom introduced the mobile money transfer service, M-Pesa, in 2008 financial inclusion in the country was below 16 per cent.
The World Bank’s Board has approved a $150 million credit to enhance the contribution of the mining sector to the Nigerian economy.
Kenya is now the third highest ranked sub-Saharan African country in terms of its travel and tourism competitiveness, according to a World Economic Forum report.
Africa has a bright future ahead of it. Productivity and growth will improve as African economies continue to place more emphasis on services and manufacturing, pursue commodity production, and achieve quick gains in agriculture and light industry.
East Africa's economy has continued to grow despite the adverse effects of drought being felt across the region according to ICAEW's (the Institute of Chartered Accountants in England and Wales) latest report.
The World Bank Board of Executive Directors has approved an International Bank for Reconstruction and Development (IBRD) loan of $50 million equivalent to strengthen Gabon’s statistical system.
Small & Medium Businesses can contribute up to 80% of jobs in an emerging economy such as Kenya - Sage regional director, East Africa
The party that emerges as the winner of Kenya’s general election, to be held on 8 August, has an opportunity to supercharge job creation and economic growth by adopting policies that help Small & Medium Businesses to thrive.
Despite being the fastest growing sub-region of the continent with an economic growth rate of 6.7 per cent, second in the world to East Asia, East Africa is lagging behind in terms of its structural transformation.
New research shows private equity activity in Africa will inject Billions of US dollars or sustainable investment over the next five years. Private equity deals in Africa are growing from a low base equivalent to 0.18% of Africa's GDP in 2016.
In a bid to enhance the work of the media using technology in Africa, Penplusbytes has released its latest social media ratings on Ghana’s Radio, Television and Print media
Notwithstanding the negative growth recorded in 2016, the real estate sector is expected to grow at an average rate of 5.39 per cent between 2017-2020.
The amount of businesses embracing an online strategy is driving an urgent review of legacy infrastructure according to Michele McCann, business development manager, Teraco.
With economic expansion and a booming population, the demand for energy in Ghana is far higher than current capacity. Now a new report from engineering experts at Brunel University London and the University of Education, Winneba, could shape conversation on the cheapest and greenest energy solutions for the decades ahead.
Free Public WiFi has been announced as the “Runner-Up” in Mozilla’s Equal Rating Innovation Challenge with a funding award of US$75,000.
Oil on water levels have reduced by as much as 17% since the beginning of the year according to new figures generated by Vortexa, a newly launched analytics platform focused on the oil markets.
Private universities and schools are mushrooming across Africa, as parents increasingly seek a quality education for their children outside of the state offering - a move which is largely attributable to the rapid growth of the middle class on the continent.
Official PC shipments to Nigeria fell 57.1% year on year in 2016 to total 156,511 units, according to the latest figures compiled by International Data Corporation (IDC).
50 Kenyan companies listed in London Stock Exchange Group’s inaugural ‘Companies to Inspire Africa’ report
50 companies operating in Kenya are named today in London Stock Exchange’s inaugural ‘Companies to Inspire Africa’ report. Collectively, Kenyan companies make up 14 per cent of the total number of companies in the report, one of the highest concentrations of high growth companies in Africa.
Millennials in Sub-Saharan Africa (SSA) are using their mobile phones to bet on football and are spending less than $50USD per month. Kenya has the highest number of betting youth, according to a recent GeoPoll rapid survey
As Africa gears up for a tripling of electricity demand by 2030, a new Berkeley study maps out a viable strategy for developing wind and solar power while simultaneously reducing the continent’s reliance on fossil fuels and lowering power plant construction costs.
A report by Kenyan-based IT firm, Serianu Limited, has revealed that the economy lost a total of US$50 million to cybercrime in 2016.
Smartphone shipments in Africa slowed down last year as the mobile device market took a hit from economic turmoil in the region.
To mark the 10th anniversary of mobile money service M-PESA, WorldRemit has released new data showing that the Kenyan diaspora is the biggest sender of digital remittances to mobile accounts.
The Economic Commission for Africa (ECA) has launched the second generation of its Country profiles, on the margins of the African Development Week held in Dakar Senegal.
Oxford professor Mark Graham, addressing the 4th UNI Africa Conference in Dakar, Senegal, warned of the danger of ‘parasitic capitalism’ where digital companies give little back to the places where they are embedded and platform workers are left to fend for themselves.
The World Bank has signed a new grant agreement with the Government of Ethiopia to improve the enabling environment for sustainable forest management, investments, and emissions reductions in the state of Oromia.
Despite on-going economic challenges and some tricky regulatory issues, Africa is fast approaching the 1bn mobile subscriptions landmark. The continued rollout of 3G and 4G networks, as well as an influx of low-cost smartphone
VOSS Water Norway partners with Voss Foundation to promote clean water, sanitation and hygiene initiatives in Sub-Saharan Africa
Over 300 million people in Sub-Saharan Africa lack access to clean water which is approximately the same as the population of the United States.
Despite a bold agenda for change, South African business executives claim organizations are not “change agile,” new Mercer study finds
As the competition for talent continues to rise and business models are disrupted by technology and socio-demographic shifts, organizations are still taking an evolutionary approach to their talent strategies in the face of revolutionary changes.
[Kenya] Capital Markets Authority targets listing 40 companies in the Growth Enterprise Market Segment by 2023
In its drive to increase listings on the Nairobi Securities Exchange (NSE), in line with the objectives of the 10-year Capital Market Master Plan (2014-2023), the Capital Markets Authority (CMA) has signed up 70 potential issuers for the Business Incubator and Accelerator on the Listing Experience event.
A phenomenal 92% of South Africans reveal they are willing to pay an above-average price for products that deliver higher quality, offer superior functioning (91%) or stand behind environmentally responsible (86%) or socially responsible (77%) principles.
EdTech is the use of digital education technology to facilitate teaching and learning. It’s a rapidly expanding sector with enormous potential. Providers around the world are now incorporating education technology into their delivery strategies.
South Africa Teraco, Africa's largest carrier & cloud neutral colocation data centre and home to NAPAfrica, Africa’s largest Internet exchange point (IXP), has announced that it has raised a medium term funding facility from Absa amounting to R1.2 billion.
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.
Egypt is one of the fastest growing and most promising economy in Africa. Egypt's high growth rate in recent years was driven by high international tourist inflow, growth in trade & logistics and ICT market. Egypt GDP is growing at a moderate rate of 4.3% in 2015.
Africa and Middle East security screening market by product, application, geography and forecast by 2022
Orbis Research added report on "South Africa Virtual Desktop Infrastructure Market By Implementation Model (Hosted Shared Desktop, Hosted Virtual Desktop), Trends, Forecast (2017-2022)"
Despite being impacted by the weak economy, packaged food recorded value sales growth of 8% in 2016, increasing only marginally compared with the previous year. Most packaged food categories in Tunisia recorded healthy growth rates in 2016.
African telcos to prioritize emerging opportunities in order to stay afloat, International Data Corporation
Telcos across Africa are increasingly focusing on effectively maximizing their return on investment from data and on monetizing emerging opportunities such as the Internet of Things (IoT) to remain competitive and afloat, according to George Kalebaila, research director for telecommunications, media, and IoT at International Data Corporation (IDC).
Food preparation appliances grew by 3 per cent in retail volume terms in 2016, with mixers continuing to be the largest category.
Vodacom continues to shoot the lights out. The latest national and regional results from Speedtest by Ookla show that the company has the best overall network performance among all mobile network providers in South Africa.
The total Africa Pet Nutraceuticals market is valued at over $291.2 million with the value expected to rise tremendously by the year 2020.
Despite market deal volumes being down by nearly a third for Africa Mergers and Acquisitions, M&A in 2016, international law firm Clifford Chance saw an increase in M&A instructions in Africa in the same period.
Steady technological advancements improve opportunities for the South African mining explosives market
Steady technological advancements within the mining industry are reducing mining costs, improving blasting efficiencies, and driving explosives sales; thereby boosting growth of the South African mining explosives market.
The Middle East and Africa (MEA) PC market experienced a mild decline of 1.8% year-on-year (Y-o-Y) in Q4 2016 to total 3.2 million units, according to global technology research and consulting firm International Data Corporation (IDC).
South Africa is navigating choppy economic and political seas and nowhere is that more apparent than in the latest consumer confidence index (CCI) figures, which showed a 10-point decline to 77; offsetting the gains made in the previous quarter.
Integrated energy group Aiteo has announced a peak production of 90kpod just one year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil bloc OML 29.
World’s largest IPv6-native Internet backbone, Hurricane Electric has announced a significant buildout of its global IPv4 and IPv6 network throughout several regions in the Middle East and Africa.
Following the release of the Mastercard Index of Women’s Entrepreneurship (MIWE) today, it was revealed that 34.8 percent of businesses in Uganda are owned by women, making it one of the top performing African countries highlighted in the index.
East Africa Metals Inc has announced the closing of a $5.2M private placement with Shandong Tyan Home Co., Ltd. , a Chinese listed public company. The private placement will finance ongoing exploration and project development activities at the Company's Harvest and Adyabo projects, located in the Tigray region of the Federal Republic of Ethiopia.
mSurvey, the only global mobile-first research platform leveraging SMS and mobile messaging technology to simplify access to credible, on-demand data from the emerging world, and Safaricom, a leading communications company in Kenya, have launched Consumer Wallet, a groundbreaking platform that quantifies offline consumer spending habits and trends.
The National Bureau of Statistics (NBS) stated that Nigeria's real GDP growth contracted to -1.30% (year-on-year) in the fourth quarter of 2016.
A new United Nations Industrial Development Organization (UNIDO) project will develop an entrepreneurship curriculum for senior secondary schools in Nigeria.
Heritage Foundation released its 2017 Economic Freedom report in February revealing that Sub-Saharan African (SSA) countries are distributed primarily within the lower ranks of economic freedom.
CEO of South African executive search firm Jack Hammer, Debbie Goodman-Bhyat, discusses the growing shift from expat hire to local executive leadership in African organizations.
About 92 per cent of South Africans reveal they are willing to pay an above-average price for products that deliver higher quality, offer superior functioning (91%) or stand behind environmentally responsible (86%) or socially responsible (77%) principles; this despite economic limitations where only 50% of the population believe that they are financially better off than five years ago.
African Business magazine in partnership with Brand Africa, Brand Finance, GeoPoll and Kantar TNS has released the results of the Top 100 brands in Africa.
The World Bank has approved a $145.5 million loan to the Republic of Botswana for the Emergency Water Security and Efficiency Project.
Innovative research released by The MasterCard Foundation is making the case for a new approach to youth employment training strategies in Africa. Invisible Lives: Understanding Youth Livelihoods in Ghana and Uganda sheds light on the working lives of African youth.
Africa’s cities are growing in population – adding the size of another Nigeria to cities by 2025 – so have a critical role to play in their countries’ economic growth, says a new World Bank report.
Recovering oil & gas sector and growing focus towards industrial expansion by various countries in the region will drive demand for industrial valves in Africa through 2021.
ICT professionals admit that 2016 was a tough year, but those who are positioned at the edge of technology trends application are confident the tide is about to turn.
As Kenyans brace for another bout with drought, a new study released today finds local agrodealers could play a pivotal role in helping farmers adapt to climate change—yet their assistance is severely limited by a shortage of certified crop seed stocks and financing options.
Residents of eight rapidly urbanizing cities in Tanzania will benefit from funding to scale up infrastructure investments and promote growth, the World Bank Group announced today.
February has seen Kenya’s inflation climb to its highest since 2016 as the effects of the ongoing drought continues to pile pressure on the cost of food according to recently released data from the Kenya Bureau of Standards.
Rating agency Standard and Poor’s says the Zambian government’s financing position remains very tight, with access to external debt markets and available domestic capacity both limited.
Kenyan economy is predicted to grow at 6.5 per cent in 2017 from an estimated 5.9 per cent last year driven largely by a historic spike in borrowing this year driven by government and private sector as the capping works itself out according to the latest forecast by Metropol Corporation.
A paltry 12 per cent of Kenyans have any form of insurance programme according to a survey by online service provider Daktari Africa.
Digital money transfer service WorldRemit is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad.
Millennials in East Africa are turning to Agriculture as a side business, a majority have attempted to turn their side hustle into their main focus borrowing starting capital from banks and relatives.
Drought throughout East Africa has sharply curbed harvests and pushed the prices of cereals and other staple foods to unusually high levels, posing a heavy burden to households and special risks for pastoralists in the region.