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DFC reaffirms commitment to scaling investment in African infrastructure and critical minerals
Deputy Chief Executive Officer (DCEO) Nisha Biswal traveled to South Africa and Zambia as part of the largest U.S. government delegation to Mining Indaba and the first Lobito Corridor Investors Forum and to deepen DFC’s investments on the continent.
Lifezone Metals announces development plan for the Kabanga Nickel Project in Tanzania
The Company continues to collaborate closely with its project partner on this two-phased development plan, as well as numerous other Definitive Feasibility Study work streams.
African healthtech shows resilience with mere 2% decline in funding while broader tech ecosystem plunges in 2023, report
Healthcare consulting firm Salient Advisory has launched its latest Intelligence Report, presenting findings on funding activity, covering grant, equity, and debt investments for African healthtech startups in 2023
Digital commerce in Africa to expand 25% per year by 2026, report
Africa has emerged as a frontier for the new online consumer class, representing an estimated 10 million new consumers in 2024 and trailing only Asia as a region. This is according to the new annual Beyond Borders digital payments and commerce report by EBANX
Vodacom, Safaricom hit 200 million subscribers
Vodacom Group’s subscriber base including Safaricom has now surpassed 200 million for the first time, having previously achieved 100 million customers in 2018.
15% of companies in the Middle East, Turkiye, Africa region do not train employees on IT
According to Kaspersky’s Business Digitization survey, only 29% of companies surveyed in the Middle East, Turkiye, and Africa (META) region organised training on cybersecurity for their employees.
[South Africa] Ninety percent of CEOs are waiting for GenAI to move past the hype, report
Seventy-one percent of global executives surveyed say they plan to increase tech investments in 2024—an 11-point jump from 2023—and even more (85%) plan to increase their spending on AI and GenAI.
23% of companies in the META region suffered from malicious actions by staff, report
A Kaspersky study found that in the past two years, 78% of companies surveyed in the META region have faced cyber incidents in different forms, 23% of which were caused by deliberate malicious behaviour by employees
United Manganese of Kalahari (UMK) has announced reduction in manganese production
United Manganese of Kalahari (UMK) announced that, in response to the worsening market conditions, it will reduce the production of manganese ore and concomitant to that, the sale of its ore products, for the time being.
Rwanda and European Investment Bank agree new critical raw materials investment partnership
The agreement will strengthen technical and financial cooperation to identify critical raw material sector investment that creates skilled jobs, supports economic development, and ensure environmentally and socially responsible development of critical raw material resources.
How international conflicts shape gold market dynamics
International conflicts, ranging from geopolitical tensions to full-scale wars, have a profound impact on global financial markets, particularly on the gold market.
47% of companies in the Middle East, Turkiye, Africa region plan to outsource cybersecurity, report
Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned by Kaspersky has found.
Generative AI skills gap slowing down AI adoption EMEA region, report
Organisations in the EMEA region plan to embrace AI solutions but are slowed by a generative AI skills gap. This is according to a new report released by hybrid multi-cloud computing provider Nutanix.
Gold in Nigeria: From ore to ornamentation
The importance of this entire process to the Nigerian economy cannot be overstated. Each step in the trade gold Nigeria chain contributes to the livelihoods of people involved and the economy as a whole.
Retailers are struggling to deal with ransomware attacks, Sophos report
After surveying 3,000 IT/cybersecurity leaders in organizations with between 100 and 5,000 employees (including 355 from the retail sector), across 14 countries in the Americas, EMEA and Asia Pacific Sophos found that only 26% of retail organizations this past year were able to disrupt a ransomware attack.
75% of healthcare organisations lose data to ransomware attacks, Sophos report
Cybercriminals successfully encrypted data in nearly 75% of ransomware attacks on healthcare organisations. This is according to the The State of Ransomware in Healthcare 2023 report released by cybersecurity firm Sophos.
Kenyan consumers remain optimistic, but financial worries weigh heavy, report
According to TransUnion’s Consumer Pulse Study, one of the significant factors contributing to the decrease in household income was job loss, with 30% of consumers reporting that someone in their household lost their job over the past month.
Kenya among top countries receiving most DDOS attacks amid ongoing geopolitical unrest
Kenya has been listed among the top five countries hit by distributed denial-of-service (DDoS) attacks in the first half of 2023. Other countries include France, Germany, Italy, and Saudi Arabia
Antwerp and Botswana to gather diamond industry in Gaborone for FACETS 2023
The two-day Conference was officially opened by the President of the Republic of Botswana, His Excellency Dr. Mokgweetsi Keabetswe Masisi.
[South Africa] Companies acknowledge inadequate budgets to address the root cause of breaches, J2 Software survey
A recent survey revealed that 58% of organisations believe their budgets allocated to manage insider risks are insufficient to effectively mitigate the increasing costs and frequency of security incidents instigated by individuals within the organisation.
AFC, Solid Minerals Development Fund of Nigeria, and Xcalibur partner to boost Nigeria's geological data capabilities
The collaboration will pursue initiatives that enhance the availability of Nigeria's geological data to interested investors across the globe and design an exploration program for mapping the country's subterranean mineral wealth.
80% of SMEs in South Africa project similar or increased revenue in 2023, Mastercard report
From surviving to thriving in the post-COVID world, small and medium enterprises (SMEs) in South Africa are projecting similar or increased revenues in 2023.
Mobile threats in the Middle East, Turkiye, Africa region rise in Q2 2023
The number of mobile threat detections particularly in the Middle East, Turkiye, and Africa region increased by 5% in Q2 2023 compared to Q2 2022.
43% of employees in META region afraid of losing job due to lack of digital skills, report
Among those who think they are most likely to lose their job because of the lack of digital skills within the next 5 years are department heads (29%) and top managers (15%).
JOGMEC Signed an agreement with 5 African countries to secure critical minerals
Japan has signed agreements with five African countries to explore and extract critical minerals used in high-tech industries.
Tembo Gold announces transformative acquisition and landmark investment from Tanzanian strategic investor
Tembo Gold Corp to announce that it has entered into a Licences Purchase Agreement with Lake Victoria Gold Ltd.
[South Africa] Financial Sector surpasses the National Average as Data Breach Costs Reach R73.1 Million
The average data breach cost for South African organizations reached R49.45 million in 2023 – an all-time high according to the IBM Security annual Cost of a Data Breach Report.
Nigeria trails South Africa and Kenya in Africa’s B2B payment revolution
Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including the adoption of electronic bank transfers, speed of processing invoices and payment automation.
European Union, Germany join forces to boost Rwanda's mining sector
The project is jointly funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and will be implemented by GIZ in cooperation with RMB
Kenya experiences 82% increase in cyber-attacks, Liquid C2 Cybersecurity Report
Cyber-attacks on Kenyan businesses increased by 82 percent according to a cybersecurity report released by Liquid C2, a business unit of Liquid Intelligent Technologies.
The driving forces: Major industries impacting the African economy
Despite the challenges it's facing, Africa is home to some of the world’s fastest economies. With a fast-growing population and a wealth of natural resources, it has become an attractive destination for investors to capitalize on its untapped potential.
[South Africa] Copper producer Copper 360 Limited lists on The Johannesburg Stock Exchange
This is the second company to list on the JSE this year, pushing up the number of listed companies on the bourse to 303 with an overall market capitalisation of R22.76 trillion.
Kenya lost Ksh 3.6 billion to cyber criminals in 2022, report
Kenya’s losses to cyber criminals reached Ksh 3.6 billion (USD 36 million) in 2022, compared to Nigeria and South Africa where they are nearly tenfold at Ksh 50 billion (USD 500 million) and Ksh 57 billion (USD 570 million) respectively.
[ChatGPT Biography] Patrice Motsepe, Founder of African Rainbow Minerals
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[East Africa Business Week] Bob Koigi: Boosting small businesses’ competitivity in the region
Small businesses are the engine of the East African economic growth, employing millions and opening up the member states to interact with each other through seamless trade.
[Interview] Dr. Mohamed El Sahili, CEO, Medland Hospital, Zambia
Dr. Mohamed El Sahili is the Chief Executive Officer of Medland Hospital, Zambia. As a medical doctor and entrepreneur, Dr. Sahili also serves on the board of key economic international organizations like the African Business Roundtable, the American Chamber of Commerce, Zambia, Olympic Youth Development Center and the Africa CEO Forum.
[Interview] Dr. Mohamed El Sahili, PDG, Hôpital Medland, Zambie
Le Dr Mohamed El Sahili est le directeur général de l'hôpital Medland, en Zambie. En tant que médecin et entrepreneur, le Dr Sahili siège également au conseil d'administration d'organisations économiques internationales clés, telles que l'African Business Roundtable et l'American Chamber of Commerce.
[Column] Cameron Tandy: Mining industry is becoming a steward of sustainability and decarbonization
For a long time, the mining industry was considered a contributor to the problem of environmental sustainability, but now it is increasingly seen as a critical part of the solution.
[Nigeria Business Week] Andrea Ayemoba: Digitization set to penetrate capital market, investment
Given the economic situation spreading across the globe in the last couple of years, it is with some optimism we can take the modest increase in Nigeria’s GDP.
[Nigeria Business Week] Andrea Ayemoba: Telcos break new ground, digital loans gain momentum
Instant loans, sometimes called digital loans, are gaining speed in the country and the telecom sector took some giant steps forward this week.
[Nigeria Business Week] Andrea Ayemoba: Persistent shortages and inflation call for new measures
Africa has in the past decade positioned itself as a knowledge economy, with one of the most robust startup ecosystems in the world.
[Nigeria Business Week] Andrea Ayemoba: Crude industry facts underlining the Nigerian economy
The Nigerian stock market indicators have shown lately a typical pattern in stock markets – investors stay loyal to the resilient stocks.
[Nigeria Business Week] Andrea Ayemoba: Experts point toward startup management for local productivity
Nigeria’s crown jewel, oil and gas, has been in a state of mild disrepair for several months now. There’s an ongoing fuel scarcity situation that is intensifying by the day and causing a ripple effect in every aspect of daily life.
[Nigeria Business Week] Andrea Ayemoba: Domestic savings, capital formation meet infrastructure demands
The Federal Government is taking huge strides to strengthen the infrastructure and agriculture industries in Nigeria.
[Column] Rene McGregor: How to find the story in a business’s data and then action it
It's broadly understood that a data literate person can read, understand, communicate, argue and apply insights from data.
[Nigeria Business Week] Andrea Ayemoba: Economic conditions returning to pre-pandemic levels
The startup movement has picked up pace in Nigeria over the last decade, with the government and responsible agencies ramping up efforts in motivating the burgeoning industry.
[Nigeria Business Week] Andrea Ayemoba: 5G becomes national security policy, industries seek sustainability in technology
The one thing the current global pandemic has unilaterally effected in all nations is a rearrangement of priorities, both for people and for governments. Survival elements – food and healthcare – have taken lead position.
[Column] Roger Long: Divergent trends in property values across Africa
The onset of the COVID-19 pandemic not only affected people and communities, but also impacted commercial property values across the world. This report looks at the effect of the pandemic on property values in Africa.
[Column] Tsheko Ratsheko: Environmental stewardship and the mining sector – powering a greener future
Responsible environmental stewardship is about protecting and preserving natural resources for the greater good of all our stakeholders.
[Interview] Stephan Eyeson, fondateur et PDG, Survey54
L'entrepreneur Britanique-Ghanéen, Stephan Eyeson, est actuellement PDG et fondateur de la société panafricaine de collecte de renseignements sur les consommateurs, Survey54.
[Interview] Stephan Eyeson, Founder & CEO, Survey54
British-Ghanaian entrepreneur, Stephan Eyeson, is current CEO and Founder of pan-African consumer intelligence gathering firm, Survey54.
[Column] Clean mining gains foothold in Mozambique
Mozambique is well-positioned to take advantage of this market boom, with mining operations already expanding across Cabo Delgado, Gaza, Manica, Maputo, Nampula, Niassa, Tete and Zambezia.
Rystad Energy analysis shows Africa’s renewable energy capacity is set for consecutive years of growth
Africa’s installed capacity of renewable energy, which stood at 12.6 gigawatt (GW) in 2019, is set for consecutive years of growth, a Rystad Energy analysis shows.
[Africa Business Panel] 6 percent of African Business Professionals expect their companies not to survive the Covid-19 Crisis
About 2/3 of the African companies (62%) say they are struggling but will survive. Almost a third of companies (29%) say they are doing well and the near future is looking good
[Survey] Threats and Opportunities for African Business in 2020 and beyond
As a valued member of Africa Business Communities, we invite you to participate in this a survey to better understand the impact of COVID19 on the current economy in general and within specific industries, but also look at the near future
New analysis shows onshore wind potential across Africa enough to power the entire continent many times over
Developing Africa’s huge onshore wind energy potential can boost its transition to affordable and reliable clean energy. For the first time ever, wind and solar made up the majority of the world’s new power generation in 2019.
Finance for renewables in developing countries on the rise, IRENA highlights
Global finance to developing countries in support of clean and renewable energy reached $21.3 billion in 2017, which almost doubles the level from 2010 when international financial flows were at $10 billion.
[Column] Shabir Ahmed: Mining sector to fast track automation amid Covid-19
Mining companies have been affected by COVID-19 outbreaks, and global restrictions to encourage social distancing have meant that mining projects have either slowed or been put on hold until further notice.
[Column] Olagoke Aluko: Liquefied Petroleum Gas (LPG) regulations lead the way in reshaping consumer behaviour and industry in Kenya
Kenya has paid a heavy price in lives lost for its slow uptake of LPG as a cooking fuel.
[Nigeria Business Week] Industries partner to reach common goals
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.
[SA Business Week] Blockchain to curb Cape Town water issues, taxi operators get a boost
Blockchain technology came into being in the early 2009. This invention was faced with a lot of backlash as most people lacked prior information about it and were therefore not ready to risk investing in it.
Your complimentary report: Lessons learned from Africa's massive data breach
Cybercrime has dominated South Africa’s news headlines throughout the course of 2018, as one high-profile attack follows another on an almost monthly basis
[SA Business Week] Key sectors appointments and a busy air route
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.
[Column] Five roots to Central Africa’s industrialization
Four years after the oil boom ended and Central African countries faced a sudden reverse in their fortunes from the strong growth of the early 2000’s.
[South Africa] Pink tax causes financial pain
Basic toiletries, grooming products, medical screenings and haircuts are some of the items that see women spending hundreds to thousands of rands more than their male counterparts.
[Nigeria Business Week] With Construction, Agribusiness, Oil and Gas and startup hubs, Nigeria leaves no sector behind
Two years ago Nigeria was as good as drowning in debts, unemployment, reduced investment and general widespread discontent. Today, though still a work in progress, the country has exited recession and is fast regaining its momentum.
[Startup Interview] Renaldo Bothma, Managing Director, HomeFixer, South Africa
Renaldo Bothma is a professional rugby player and founder of a new app, Homefixer, an app to help fix any household related issue at the push of a button.
[Column] Bob Koigi: Mining in Sub Saharan Africa: Bane or blessing?
Sub Saharan Africa is increasingly becoming a mining hub as more countries in the region continue discovering lucrative resources and minerals that have catapulted them to international limelight while seeing numerous investors pitch tent.
[Column] Gilbert Saggia: Data - the fertilizer that will feed Africa's agricultural transformation
Everywhere we look, technology is being touted as the enabler of a new era of African agricultural prosperity. The exciting world of possibilities offered by blockchain, IoT and machine learning has made companies, governments and policy-makers sit up.
[Column] Benjamin Coetzer: Combating cloud’s biggest security risk - the user
Cloud is coming into its own. Forrester says that public cloud platforms, business services, and applications will reach $236B by 2020.
Nigerians seek next level shopping experience - Nielsen findings
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.
South Africa constitution comes to the fore in North African cargo dispute
At first glance, it might seem unlikely that South Africa’s Constitution could be instrumental in deciding a cargo dispute with its roots in a 40-year-long North African territory deadlock.
[Column] Leana Englebrecht: Swaziland Competition Commission requires payment of higher merger filing fees
In Swaziland, mergers are classified as either small mergers or large mergers.
[Column] Betsie Strydom and Wandisile Mandlana: New tax measures to curb abuse of mining rehabilitation funds are a missed opportunity
The National Environmental Management Act, 1998 (NEMA) places the responsibility for remediating environmental damage, pollution or ecological degradation arising from mining operations on mining companies as the holders of prospecting or mining rights.
Digital innovation driving growth and competition in DRC mining sector - Ali Bofulo
Digital innovation is driving transformation within the local mining sector. This shift, according to leading converged ICT solutions provider, iWayAfrica, is driving growth and becoming a key differentiator within the Democratic Republic of the Congo.
[Column] Frances Okosi: The rise of renewable energy across Africa
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.
Africa presents a mixed foreign direct investment picture - EY Africa Attractiveness report
According to EY’s latest Africa Attractiveness report, heightened geopolitical uncertainty and “multispeed” growth across Africa present a mixed FDI picture for the continent.
[Interview] Jonathan Bloch, CEO, Africa Financial & Economic Data
In response to the ever growing need for information and market analyses, Jonathan Bloch founded the Africa Financial & Economic Data, providing a library of intelligence on African economic markets.
Powering Africa's Transformation - Tony Elumelu, Aliko Dangote, Carlos Lopes
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.
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.
[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.
Economic growth in East Africa remains strong despite drought - Report
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.
[Column] Jaco Lotz: Growth in middle class drives private education boom in Africa
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.
The Global Gig Economy and its Implications for African Digital Workers - Professor Mark Graham
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.
[Column] Mariam Abdullahi: Africa’s mobile revolution: strategic focus areas for telcos in 2017
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
[Column] Jens Ischebeck: Edtech - A growth area for Africa
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.
Samsung emerges Africa’s most admired brand
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.
[Interview] Debbie Goodman-Bhyat, CEO Jack Hammer, South Africa
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.
Pop culture is the biggest influencer of African youth, report
Pop culture is the biggest influencer of African youth, according to the Who is Influencing Who? Unpacking Youth and Influence in Africa report.
New roadmap from IFC and partners outlines net-zero pathways for mining green tech metals
The International Finance Corporation (IFC) launched the Net-Zero Roadmap for Copper and Nickel Mining Value Chains, a new solutions guide aimed at decarbonizing the mining of critical minerals.
Low-carbon investments to rise by $60b in 2023 as inflation weakens, hydrogen and CCUS spending to surge, Rystad Energy
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments but helped by a significant rise in funding for hydrogen and CCUS infrastructure, Rystad Energy research shows.
Perennial rice incorporates African wild rice genes and halves production cost, study
The global population was projected to reach 8 billion by 15 November 2022, according to the UN’s recently-released World Population Prospects 2022.
The next Mark Zuckerberg could come from Africa, report
Africa’s youth prefer using local innovations and believe that the next tech billionaire could come from the continent, according to the recently launched Africa – innovator or imitator? Exploring narratives around Africa’s technological capabilities report.
New WorldRemit data shows families around the world spend 156% of monthly income on Christmas
Families around the world can expect to spend up to 156% of their monthly income on Christmas this year, according to the latest results from the WorldRemit Cost of Christmas study.
New study shows $100 billion in climate change adaptation investment opportunities in Africa by 2040
Private investment opportunities to support climate change adaptation against floods and droughts in Africa could reach a total of $100 billion by 2040, according to a new IFC study.
Unlocking the Future of African Mining at the Mining Indaba 2023
Investing in African Mining Indaba the world's largest gathering of the most influential stakeholders in the African mining industry, is gearing up to again deliver a record-breaking event that will facilitate greater investment into African mining.
Study shows digital tools can help farmers in Africa fight climate change, but need more help from government
African farmers urgently need government support to increase their use of digital tools. This is according to a new survey conducted by Savanta ComRes, commissioned by Vodacom.
Data sovereignty in EMEA is a concern for the majority, multi-cloud research reveals
By 2024, 95% of organisations across EMEA will be looking to their data as a revenue driver, with 46% recognising it as a significant source of revenue, up from 29% today.
[South Africa] Impala Rustenburg invests in business development hub targeting MSMEs in mining
From this multi-functional venue, Impala Rustenburg will provide SMMEs with services including enterprise and supplier development, assistance with market access and funding facilitation, as well as various shared business facilities.
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COLUMNS.
[Column] Louis Avenant: Trends for African telcos in 2024
Africa’s vibrant telco sector is set for a bumper year in 2024 as it expands operations and broadens service offerings ...read full column here
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[Column] Virodh Sunderlall: What to expect from South Africa’s cybersecurity landscape in 2024
As widely reported last year, South Africa received the most cybersecurity threats on the continent by far ...read full column here
[Column] Stephen Bottger: The power of data analytics to revolutionise public safety
The use of applications, technology and data analytics can play a significant role in public safety globally ...read full column here
INTERVIEWS.
[Interview] Chester Wisniewski, Director of Global Field CTO, Sophos
Chester Wisniewski, the Director of Global Field CTO at Sophos, emphasizes several key trends and predictions for the cybersecurity realm in the coming year … read full interview here
[Interview]: Daniel Otu, Koa’s Production and Operations Director & the factory project lead
Daniel Otu, Koa’s Production and Operations Director & the factory project lead, touched on the challenges faced, the importance of sustainability, the role of local culture, and the lessons that shaped Koa’s future vision … read full interview here
[Interview] Oluwole Eweje, CEO-WATT Renewables Corporation
We provide sustainability for communities, especially communities that have very few businesses … read full interview here