- The Far Property company to list more linked units on BSE
- Building Kenya’s tourism competitiveness in Africa
- Uganda Securities Exchange creates new window for SMEs’ capital mobilisation
- Indian Ocean safety stamp to boost Kenya imports savings
- Nigeria’s capital market positive US dollar returns in September
- South Africa’s manufacturing grew 2.9% in September
- Costs of farm inputs still a headache for Africa
- Beekeeping in Tanzania, adopting modern agriculture technologies
Browsing: Sub-Saharan Africa
- 5G-related activities are picking up across the Sub-Saharan Africa region, including 5G spectrum auctions, 5G pilots and commercial trials
- The Mobile Economy Sub-Saharan Africa 2022 report reveals that the huge demand for connectivity in the wake of the COVID-19 pandemic has led to a growing interest in the role of 5G in the connectivity landscape
- 2022 marks a turning point as 3G adoption begins to decline for the first time
A new report has revealed that 5G-related activities are picking up across the Sub-Saharan Africa region, including 5G spectrum auctions, 5G pilots and commercial trials, and efforts to develop locally relevant 5G use cases.
According to The Mobile Economy Sub-Saharan Africa, 2022 report, the huge demand for connectivity in the wake of the COVID-19 pandemic has led to a growing interest in the role of 5G in the connectivity landscape.
For example, South Africa’s ICASA completed the spectrum auction for …
Even though their inactivity on rising inflation has eroded their credibility, some central banks, like Kenya’s, have been upfront about prioritizing economic growth.
- Rising inflation now seems like a common theme throughout the continent.
- There are regions of high inflation notwithstanding the continent-wide pattern of production gaps and surplus capacity.
- The latest inflationary surge is considerably more structural and will take much longer to subside.
Rising inflation in Africa has hampered post-pandemic economic recovery
Sub-Saharan Africa’s rebound surprised the unexpected in the second quarter of 2021, causing a significant upward adjustment in the earlier year’s expected growth, from 3.7 to 4.5 per cent.
However, this year’s progress has been threatened by Russia’s invasion of Ukraine, which has caused a global economic shock that has hit Africa at a time when the government’s policy space to respond to it is small to nonexistent.
The pandemic effects and the Ukrainian crisis have led to rising commodity prices, surging inflation, and shifts in the global financial situation that have transformed African trade and production capabilities.
- After overperforming in its post-pandemic recovery in 2021, Africa’s economic growth will expectedly lag in 2022.
- According to IMF, exports topped pre-pandemic levels to reach $150 billion in the first quarter of 2022.
- Countries with highly diversified markets, like Kenya, have boosted domestic processing and manufacturing to establish themselves as intra-regional trade hubs.
Economic growth to lag amid economic diversification
After overperforming in its post-pandemic recovery in 2021, Africa’s economic growth will expectedly lag in 2022. IMF projects that growth will drop from 4.6% in 2021 to 3.8%. The global shocks from Russia’s invasion of Ukraine have dampened Africa’s economic prospects.
The high import bills and fuel prices continue to strain import-dependent countries’ fiscal and external balance sheets. The strain …
The prospective stability and economic recovery expected under the new administration in Kenya will no doubt make way for the realization of huge money investments in the countries.
Kenya has the most stable political system in Africa and is the biggest economy in East Africa.
The transition also happened peacefully, marking a new chapter for Kenya under President William Samoei Ruto.
As far as where to put money is concerned, Kenya has numerous investment sectors with tremendous potential.
Kenya has the most stable political system in Africa and is the biggest economy in East Af...
Sub-Saharan Africa and its northern counterpart hold great economic promise.
Africa’s investment case remains a compelling proposition. The continent is home to some of the fastest growing economies in the world; think of Botswana and South Africa.
The continent is home to the youngest population in the world that is moving up the social strata. This means that the population of Africa will demand goods and services that foreign companies will happily supply. The continent, until recently, has attracted record amounts of foreign direct investment as capital made a beeline from developed economies whose returns were marginal at best and lethargic at worst. Returns on investments in Africa have been among some of the highest in the world.
- Sub-Saharan Africa is set to enjoy slower economic and income growth, according to a report by the World Bank.
- The Global Economic Prospects is an annual report produced and published by the
President Ruto’s administration plan regarding the ICT sector represents a significant move towards a much anticipated economic revolution in Kenya.
- Kenya has not been left behind in the growth and development of digital technology.
- Kenya’s new administration must address local corporates and startups’ challenges in retaining the best tech talent.
- The President promised to lay 100,000 kilometres of internet fibre all over the country over five years.
William Samoei Ruto got sworn in on September 13, 2022. Kenya’s fifth president takes over when the world undergoing a digital revolution. Technologies such as the metaverse and crypto are slowly but steadily taking root.
Kenya has not been left behind in the growth and development of digital technology. East Africa’s richest economy stands tall in the development of digital technology. However, a lot needs to be done, and the new administration has enough space to execute its plan regarding the advancement of …
Increased intra-African trade is an effective option to pave the way for post-Covid-19 economic recovery and food security.
The COVID-19 epidemic threw Africa’s growth trajectory off course.
African nations have attempted to unilaterally liberalize trade and participate in free trade and regional integration agreements.
Nations launched the AfCFTA as one of the actions made to support more extensive intra-African trade.
The sweeping effects of Covid-19
The health and economic implications of the COVID-19 pandemic dramatically raised the number of individuals living in severe po...
It remains uncertain how long this economic downturn lasts or which tech startup and investors will remain standing when it ends, but the African digital ecosystem will remain relatively unscathed.
- The impacts of the global economic downturn began to seep in May 2022.
- The global venture capital (VC) industry for startup funding is stagnating.
- The African tech startup industry offers the funds tremendous possibilities to invest at a low cost, amidst the global economic downturn.
A flurry of lay-offs
After more than a year of the bull-run tech stock market and record billion-dollar investments for startups throughout the world, the impacts of the global economic downturn began to seep in May 2022. According to lay-off aggregators, tech businesses globally laid off more than 15,000 workers in May, with the firms laying off over 65,000 tech employees so far this year.
When the United Nations General Assembly voted overwhelmingly on March 2 to condemn Russia’s invasion of Ukraine, African countries accounted for almost half of the 35 abstentions including South Africa.
The conflict triggered by Russia’s invasion has complicated the challenges and sources of stress already facing Southern Africa.
A few countries are sensing long-term growth opportunities from the crisis. Specifically, Africa’s natural gas could reduce Europe’s dependence on Russian energy.
Russia’s invasion of Ukraine has upended the existing world order and with it the global en...
The African logistics market has proven itself ahead of the curve in many areas, with endless potential and opportunities lurking just beneath the surface.
Investors have mostly failed to capitalise on Sub-Saharan Africa’s e-commerce opportunities due to logistical hurdles and infrastructural inefficiencies.
Development finance institutions must take the lead in investing actively in asset-heavy logistics firms, while venture funds should keep focusing on asset-light firms.
As the African market expands, global corporations and local enterprises will exploit the logistics market gap...