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[Free Webinar] E-commerce Evolution: The Future of Finance with Digital Payments in Africa
Master the skill of leveraging digital payment solutions to enhance transaction efficiency, cater to diverse payment preferences, and manage risks associated with foreign exchange and transaction security.
Zambia develops and validates blue economy strategy
The strategy will guide the nation in advancing knowledge on biotechnology, environmental sustainability and ecosystem services.
Mastercard and Women Choice expand partnership to invest in women entrepreneurs
Women Choice - an international organization dedicated to advancing women's personal and professional development - launched the pilot cohort in 2023.The next cohorts will be participating in the new programs this year and will aim to impact 50,000 women.
[Webinar] Complimentary expert session for Telecom leaders and Startups in Africa, March 21
Designed for telecom leaders and startups, thia event offers invaluable strategies for expanding services, managing FX risks, enhancing cross-border payments, and establishing credibility in the international arena.
[Column] Hassan Egeh: Somalia's battle with climate change effect
Climate change has significant effects on Somalia, impacting various aspects of the country. Droughts and water scarcity have become more severe, leading to a loss of vegetation and livestock deaths. This has resulted in food insecurity, with crop failures and reduced agricultural productivity.
Southern African tourism stakeholders to get new regional disaster risk management and crisis communication plan
The SADC Business Council Tourism Alliance has concluded the successful completion of a pilot project on tourism disaster risk management and crisis communication for the Southern African Development Community (SADC) region.
Village Capital unveils programme targeting African startups focused on greentech
The programme is designed to advance innovative and sustainable solutions, actively contributing towards building resilience and mitigating the effects of climate change across Africa.
Zambia validates blue economy strategy
The strategy will guide the nation in advancing knowledge on biotechnology, environmental sustainability and ecosystem services.
GE Vernova commits to support sustainable energy transition in Nigeria
Nigeria, one of Africa's economic powerhouses, faces a dynamic energy landscape characterized by a growing population, industrialization, and a rising demand for electricity.
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.
[FINTECH EVENT] Verto Atlas Product Launch, Lagos Continental Hotel, 29 February
Verto extends this invite to an exclusive, fireside gathering at the prestigious Intercontinental Hotel Lagos, as it unveils Verto Atlas, the financial powerhouse for large corporations and enterprises in Nigeria.
2024 Dubai WoodShow to feature seven country pavilions
Dubai International Wood and Woodworking Machinery Exhibition (Dubai WoodShow), is poised for its landmark 20th edition, scheduled from March 5 to 7, 2024, at the Dubai World Trade Centre.
TradeMark Africa receives $63 million from Netherlands to advance sustainable trade
This strategic investment will fuel TradeMark Africa’s Strategy 3, covering the period till 2030, aimed at driving green, sustainable economic growth, fostering innovative trade practices, and promoting inclusive trade across Africa.
Toyota to open a vehicle manufacturing plant in Kenya
The agreement will see Toyota set up a vehicle manufacturing plant in the country. The company has committed an initial investment of Kshs 800 million in the Kenya Thika vehicle manufacturers.
[Column] Anthony Mwangi: Export-led growth the cure to Kenya’s currency devaluation
The Kenya Association of Manufacturers (KAM) firmly believes that embracing an export-led growth strategy holds the potential to reverse the situation and mitigate against the free fall of the local currency.
[Open Webinar, Feb 1 2024] Cross-Border Finances: Enhancing Commodity Trade Across Africa
Tailored for CFOs, this event provides strategic knowledge to navigate international markets and enhance financial outcomes in the dynamic commodities sector. Don't miss this unique opportunity for CFOs to stay ahead in global commodity trading.
World Bank approves $300m loan for Ghana’s economy
The World Bank today approved a $300 million Development Policy Operation for economic relief in Ghana.
Aramco expands global venture capital programme with $4 billion funds injection
It will take Aramco's overall venture capital allocation to $7.5bn, which also includes the $500 million venture capital fund Wa'ed Ventures that focuses on the start-up ecosystem in the Kingdom of Saudi Arabia.
East African region leads the rest of Africa in economic growth, report
In 2024, Africa's overall growth is forecasted at 4.0%, a notable increase from 3.3% in 2023, positioning it as the second-highest globally, trailing only Asia (4.8%).
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.
EIB Global announces $30 million investment in Seedstars Africa Ventures I, a VC fund for African entrepreneurs
Innovative businesses and start-ups across Africa will benefit from better access to risk capital thanks to a US$30 million equity investment by EIB Global in the Seedstars Africa Ventures I venture capital fund.
[Free Webinar] Accelerating FX Success: Expansion Strategies for Marketing Agencies in Eastern, Western Africa
This event is tailored for marketing executives and CFOs looking to gain actionable insights into international expansion, building a global clientele and establishing strong online presence.
[Free Webinar] Accelerating FX Success: Expansion Strategies for Marketing Agencies in Eastern, Western Africa
This event is tailored for marketing executives and CFOs looking to gain actionable insights into international expansion, building a global clientele and establishing strong online presence.
Arab Coordination Group allocates $10 billion to support energy transition
This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries.
Youth-led African enterprises awarded $800,000 at COP28 for climate solutions
They will also receive a comprehensive mentorship and coaching as part of a 12-month accelerator program. Since its launch in 2021, the YouthADAPT initiative has provided more than $5 million to 33 young entrepreneurs from 19 African nations.
[Column] Hassan Egeh: What does it mean for Somalia to join East Africa Communities (EAC)?
Somalia was admitted into the East African Community (EAC) on Friday Novermber24, 2023 the eighth member of the bloc as it seeks to expand free trade across the region.
[Free Webinar] Unlocking Success in New Markets: Cross-Border Payments Strategies for South African Businesses
Embark on a journey through the dynamic realm of international finance with our upcoming webinar, where we unravel the intricacies of global payment strategies essential for triumph in the finance sector.
Global mobility firm inDrive launches venture targeting startups
inDrive, a global mobility and urban services platform, has announced the launch of a new venture and M&A arm aiming to invest up to $100 million in promising startups.
Christine Namara joins Flat6Labs as partner for Africa Seed Fund
In a strategic move to strengthen its existing footprint in the vibrant African startup ecosystem, Flat6Labs, the seed venture capital firm in the MENA (Middle East and North Africa) region, has appointed Christine Namara as Partner for its Africa Seed Fund.
Arab Coordination Group pledges $50 billion for African development
The Arab Coordination Group (ACG) has announced that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent.
Mombasa Plastics Prize innovators Pique King’s interest during Royal visit
Mombasa’s young innovators addressing marine plastic pollution caught the attention of King Charles III and Queen Camilla during their royal visit to Kenya.
Western Australia to host 24th WTTC Global Summit after Kigali
During the closing session of the World Travel & Tourism Council’s (WTTC) Global Summit in Kigali, Western Australia was announced as the host for 2024, marking the first time the event will visit Oceania.
[Kenya] Mombasa Plastics Prize unveils the start of incubator to support growth of sustainable businesses
Building on the success of the initial phase, the incubator aims to support teams from the initial phase of the project to create sustainable businesses that significantly impact the mitigation of marine plastic waste pollution in Mombasa County's informal settlements.
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.
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.
Africa's total exports expected to hit close to $1 trillion by 2035, report
Standard Chartered has published its Future of Trade: Africa report, highlighting the outlook for African trade and providing a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade.
[Column] Anthony Mwangi: Functioning ORGWARE a panacea for Kenya economic transformation
The term describes the framework conditions for Information Technology (IT) projects that are neither part of the hardware nor software but are necessary to achieve the project goals.
[Free Webinar] Global Payment Strategies for Shipping & Logistics: Empowering Seamless Trade
In the rapidly evolving landscape of shipping and logistics, effective cross-border payment strategies have emerged as a critical driver of success. Join this insightful webinar that delves into the world of global payment strategies.
[Column] Vera Ng’oma: Propelling TEVET as Africa is set to be the world capital for young talent
Africa could seize this opportunity as it pursues a re-envisioning of its economic prospects. But this aspiration can only be attainable if education systems are revitalised, skills development philosophies re-set and job markets scaled to support the demographic boom.
[Column] Patrick Mweheire: Major investment drive sparks East African trade and development
East Africa is poised to unlock new pathways for trade, development and growth.
Africa Climate Summit 2023 concluded with Nairobi Declaration
At the closing of Africa Climate Summit 2023, African leaders announced $23 billion Nairobi declaration target for green growth in Africa.
[Column] Marlene Mutimawase: Promoting women's leadership for land restoration in Africa
African Union in partnership with the Government of Kenya and Africa Climate Summit brings together leaders from governments, businesses, international organizations, and civil society to showcase a diverse range of bold innovative climate actions taking place across Africa.
[Column] Thandi Moticoe: Driving change through economic empowerment of South African women
One of the keys to overcoming the challenges faced by women is economic empowerment. By providing women with skills training, microfinancing, and entrepreneurial support, we are helping women break free from the shackles of dependence and vulnerability.
IFC invests $11.5 billion for Africa’s green transition and job creation
IFC made $11.5 billion in investments between July 1, 2022, and June 30, 2023, across 40 countries, the largest ever annual commitment for the continent.
ACWA Power signs deal with NREA for 10 gigawatts wind project in Egypt
ACWA Power, a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a player in energy transition, has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt.
AFRAA joins initiative enhancing aviation's economic contribution to Africa
Focus Africa aims to maximize the contribution of aviation to development across the African Continent by better serving passengers and shippers.
[Chronique]Frida Frans: L'impact des coups d'État sur les accords de commerce et la stabilité économique en Afrique de l'Ouest
La récente série de coups d'État en Afrique de l'Ouest a entraîné des bouleversements politiques dans la région. Ces coups d'État survenus au Mali, en Guinée, au Burkina Faso et au Niger se caractérisent par des changements soudains et souvent violents à la tête du pays.
Radisson Hotel to introduce its eighth hotel in Morocco with the opening of Radisson Blu Residences, Saidia
Radisson Hotel Group is expanding its presence in Morocco with the opening of Radisson Blu Residences, Saidia, its eighth hotel in the country. Nestled in the heart of one of the most popular seaside destinations in northern Morocco, the new hotel bolsters the Group’s portfolio to three hotels in Saidia.
[Column] Frida Frans: The impact of Coup d’état on trade agreements and economic stability in West Africa
The recent series of coup d'état incidents in West Africa has resulted in significant political upheaval across the region. These prominent coups occurrences in Mali, Guinea, Burkina Faso, Niger are characterized by sudden and often forceful changes in leadership.
[Column] Dickson Naftali: Harnessing Africa’s youth population for inclusive growth
By empowering Africa’s youth and creating an enabling environment, we can transform the continent’s food systems and unlock its economic potential.
Nigeria, Ethiopia swap $100m blocked airline funds
The Ethiopian and Nigerian central banks have agreed to swap funds trapped in their respective states, which will see Ethiopian Airlines (ET) recover up to $100 million trapped in Nigeria.
[Column] Wayne Glossop: Gas power solutions for South Africa
While to date our society has been heavily reliant on coal, it's not able to keep pace with the energy and environmental aspirations of the nation currently.
Ethiopia applies to join the BRICS bloc of emerging economies
Ethiopia, one of Africa’s fastest-growing economies, has asked to join the BRICS bloc of emerging markets, the foreign ministry said on Thursday.
[Column] Pankaj Bedi: Transform Kenyan human capital for sustainable growth
For any business, one of the most critical components of enhancing productivity and giving the company a competitive edge is a skilled and highly efficient workforce. The most industrialized nations attribute their development to a highly skilled workforce, among other factors.
FMO partners with African Angel Academy to accelerate angel investing
FMO announced a strategic partnership with The African Angel Academy (AAA) and DGGF (Dutch Good Growth Fund), to bolster the capacity of early-stage investors in 5 growing African startup ecosystems.
CPS and African School of Economics join forces to establish University and Research Labs in Fumba Town
CPS to announce its partnership with the African School of Economics (ASE), spearheaded by Prof Leonard Wantchekon, the esteemed President and Founder.
UK and Ghana launch new investor group to scout for top investment opportunities
The UK and Ghana have launched a new investor group to help identify mutually beneficial investment opportunities for both countries in a boost to the existing economic partnership.
Ghana’s tax on sugar-sweetened beverages a win for health sector, experts
Actioned by the Ghanaian Government as part of measures to reduce impacts of SSBs on public health, the country is now one of hundreds that have implemented World Health Organization-recommended interventions to prevent non-communicable diseases (NCDs).
Award scheme recognizes Kenyan entrepreneurs fighting marine plastics problems
The awards, which showcased the most effective solutions to tackle Mombasa’s marine plastics problem, were the culmination of a six-month initiative funded by USAID and Global Affairs Canada.
Africa to become the second-fastest growing region after Asia AfDB report
But the projected growth will depend on global conditions and the continent’s ability to bolster its economic resilience, the African Development Bank’s 2023 African Economic Outlook report has found.
[Column] Gawie Kanjemba: The state of play of African oil and gas
Historically, oil and gas projects are known to experience delays ranging from 5% to 20% of the project duration owing to project complexity, significant capital requirements and the multi-faceted nature of developments.
Focus Africa Conference to strengthen aviation’s contribution to African development
The International Air Transport Association (IATA) has announced that the Focus Africa Conference will delve into six priorities under IATA’s Focus Africa initiative to strengthen aviation’s contribution to the continent’s economic and social development.
2023 AFRICA CEO FORUM to be held in Abidjan, Cote d’Ivoire
2023 AFRICA CEO FORUM to be held June 5-6 in Abidjan, Cote d’Ivoire to help shape Africa’s response to global crises
[Column] NJ Ayuk: The outlook for African oil in 2023 is promising
Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated demand for crude oil, and African exports dropped sharply.
Ghana, Austria sign key strategic partnership agreements
The President of the Republic, Nana Addo Dankwa Akufo-Addo, and the Chancellor of the Federal Republic of Austria, Karl Nehammer have agreed on key areas of cooperation primary on strengthening existing bilateral ties between the two countries.
[Column] Anthony Mwangi: Why accelerating circular economy is a no brainer for Kenya
The concept of a circular economy is increasingly being recognized globally as crucial for achieving global sustainability goals.
Ethiopia moves towards liberalization of trade in services
Trade in Services plays a key role in the economic growth and development of a country. Services directly support production but also value chains and create jobs and other economic and non-economic opportunities.
250 entrepreneurs get business boost from Youth Startup Academy Uganda Boot Camp
Some 250 ambitious entrepreneurs from across Uganda completed an intense boot camp to learn how to grow their businesses. Run by the Youth Startup Academy Uganda, the boot camps are part of an incubator project that aims to work with 1,000 entrepreneurs under 35 years old.
VC firm Equator raises $40 million in commitments for African climate tech startups
The global venture capital firm with teams in Nairobi, Lagos, London, and Colorado, seeks to invest in high-growth, ready-to-scale ventures that are driven by technology and business model innovation in their quest to address material economic and sustainability challenges in the region.
[Africa Business Communities Forum] How are the 2023 elections affecting businesses in Nigeria?
With the end of the first quarter here, Africa Business Communities talks with business owners and CEOs in Nigeria on the effect this year's elections is having on the economy at large.
Nigerian logistics startup Fez Delivery raises $1 million funding to expand operations
This funding announcement follows Fez Delivery's acceptance as one of the only two logistics companies in Nigeria to have received investment from Techstars Toronto, an elite global tech accelerator.
Visit Rwanda signed a new deal
The Rwanda Development Board (RDB), through the Visit Rwanda campaign signed a Memorandum of Understanding with the Veteran Clubs World Championship where Rwanda will host the next three editions of the football tournament.
[Interview] Ayodeji Ayorinde, Co-founder, Artisankonect, Nigeria
Artisankonect is a Nigeran startup that helps outsource user requests to skilled persons. Africa Business Communities chats with Ayodeji Ayorinde, one of the founders.
Factor[e] Ventures launches a new venture studio to transform the African startup ecosystem
Delta40 focuses on technology-driven energy, agriculture, and mobility ventures led by diverse, experienced founders.
Volvo delivers the first heavy electric truck to Africa
Deployment of heavy electric trucks is now spreading across the world. With Europe and the US among the leaders, the shift to more sustainable transport is kicking off also in other parts of the world. In Africa, the first heavy electric truck is now being delivered in the city of Rabat in Morocco.
[Nigeria Business Week] Andrea Ayemoba: Investors bet on fintechs, startups
The past couple of weeks have seen a flurry of activities in several sectors of the Nigerian economy. Startups are receiving increasing financial backing from VCs for the growith of SMEs.
[Interview] Fedir Ted Martynov, CEO, CARMACHAIN, Nigeria
Ted Martynov leads CARMACHAIN, a fintech outfit operating in Nigeria that enables credit data for lenders in markets underserved by credit bureaus.
[Column] Sithembile Ntombela: South Africa economy could benefit from BRICS enlargement
One of the least known information about the BRICS countries is that the chairmanship of the group is rotated annually amongst its members in accordance with the acronym of B-R-I-C-S.
[Column] Cathy Smith: With change the only constant, leaders will need to be adaptive in 2023
The last few years have revealed the futility of making predictions about what lies ahead. In our uncertain times, the only guarantee is that the world will keep changing, with change coming at an ever-accelerating rate.
[Nigeria Business Week] Andrea Ayemoba: Digitization on all fronts, tech takes the lead
There is an obvious, increasing amount of technology awareness, and appeals for more extensive technology trainings in Nigeria.
[Column] Rajan Shah: Proposed EGMS Tax hike threatens Kenya’s economic growth
The Kenya Revenue Authority (KRA) has proposed an increment of excise duty which as Kenya Association of Manufacturers (KAM) are deeply concerned about.
[East Africa Business Week] Bob Koigi: What the entry of Somalia to the EAC means for region
This week, The East African Community (EAC) officially launched the verification mission to assess the Federal Republic of Somalia’s readiness to join the Community.
[East Africa Business Week] Bob Koigi: Improving business competitiveness in the region: The case of TradeMark Africa
As it rebrands to TradeMark Africa, TMA, in its bid to grow its continental footprint, aid for trade institution formerly known as TradeMark East, boasts of having made a lasting mark in East Africa where it has operated for over ten years.
[Nigeria Business Week] Andrea Ayemoba: 2022 statistics outline Nigeria's economic status quo
Despite all the setbacks plaguing economies the world over, Nigeria’s GDP for 2022 is projected to be north of $500billion, the largest in Africa. All eyes are now turned to what these next 12 months could bring Africa’s largest economy.
Enquête de la BEI sur le climat en Côte d’Ivoire
91 % de la population ivoirienne interrogée estiment que les changements climatiques ont déjà des répercussions sur leur quotidien.
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
[Nigeria Business Week] Andrea Ayemoba: Investments take priority over all
With global inflation spiraling out of control, every country is working harder than ever to welcome new enterprise and business. Nigeria made great progress in this in recent months.
[Column] Patrick Utomi: For AfCFTA to deliver on its promise, we must address concerns of entrepreneurs
We must recognise the preponderance of micro-small and medium sized enterprise in the continent’s commercial landscape.
Growing Crypto Market in South Africa - What Cryptocurrency is best to invest in?
Undoubtedly, trading crypto has become one of the primary sources of income for many people. In South Africa, a few people trade crypto full-time, while most treat it as a side hustle.
[East Africa Business Week] Bob Koigi: Accelerating sustainable and clean transport solutions
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
Africa is one of the world's fastest growing crypto markets
Analysis by blockchain data platform Chainalysis has revealed that Africa’s crypto market is growing faster than anywhere else in the world.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
[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.
Africa Business Communities Forum: Which African countries will perform best economically in 2022?
Africa Business Communities talked to several entrepreneurs and founders in the early months of the year, and they cast their votes on which African countries will thrive best in 2022.
Africa Business Communities Forum: Quels seront les pays Africains plus performants sur le plan économique en 2022?
Africa Business Communities s'est entretenu avec plusieurs entrepreneurs et fondateurs au cours des premiers mois de l'année, et ils ont voté pour déterminer quels pays africains seront les plus prospères en 2022.
[Column] NJ Ayuk: How Africa can capitalize on its mineral wealth to develop an electric vehicle value chain
As the entire global transportation marketplace marches toward an increasingly electrified and battery-powered future, many countries across the African continent stand at the threshold of profound economic opportunity.
[East Africa Business Week] Bob Koigi: Region warms up to the hospitality industry’s expansion binge
Global respected hotel brands are expanding their footprint and have identified Africa as a key investment destination with the East African region catching their attention for its MICE, business and leisure growth potential.
[East Africa Business Week] Bob Koigi: Partnerships bolster cross-border remittances and trade
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
[Column] Goodie M. Ibru: What the AfCFTA brings to the table in Africa
The trade and investment layout of the African Continent is a story of both promise and missed opportunities. With a population of over 1.2 billion, Africa promises a huge and promising market.
[Column] Anthony Mwangi: Why Kenya’s inflation adjustment should not be implemented
The Plan demonstrates the government’s deep understanding and commitment to developing sustainable solutions for all. KAM remains committed to working closely with Government to transform the economy.
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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