Browsing: Sub-Saharan 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. 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. Currently, 90 per cent of Africans cannot afford to buy a house or qualify for a mortgage.Recent reports indicate that more than 60 per cent of sub-Saharan African currently lives in Slums.

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 …

Warning bells are being ignored over Africa’s rising debt making it not if but when Africa crumbles under the pressure to repay these loans.

Public debt in nearly half the sub-Saharan African countries is now above 50 per cent of Gross Domestic Product (GDP).

Concerns regarding the continent’s present debt arise from the fact that it has risen sharply in a very short space of time.

However, Africa’s public debt has not yet reached the proportions that triggered the Highly Indebted Poor Country (HIPC) initiative.

Sub-Saharan Africa’s new debt crisis

The African Economic Research Consortium (AERC) warns that heavy debt servicing has increased apprehensions regarding sustainability.

Debt management by servicing the loans carries immediate implications for macroeconomic stability, consequently economic growth and development.

AERC adds that Sub-Saharan Africa is slipping into a new debt crisis. 40 per cent of the region’s countries is now at high risk of debt distress. …

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 …

By 2035, Africa which has one of the youngest populations in the world will have the largest workforce in the world.

As such, there is an urgent and pressing need to develop skills that can sustain African billion-strong population workforces in both the immediate and distant future.

By investing right in education, the continent will go a long way to secure a brighter future for the whole continent.

A report by the World Economic Forum (WEF) notes that sub-Saharan Africa captured only 55 per cent of its human capital potential in 2017. This is compared with the global average of 65 per cent.

Globally, Africa lags behind in global ICT goods trade.

Unemployment and mismatched skills in Africa

Youth unemployment is an ongoing challenge on the continent.

At the same time, employers across the continent identify inadequately skilled workforces as a major constraint to their businesses amid a wave …

Major power consumers in Kenya are increasingly adopting solar energy as they seek to lower power costs determined by the country’s monopoly, Kenya Power.

By reducing their dependence on main grid electricity, projections show that these consumers will in the next decade disrupt the power sector players denying them substantial revenues.

Many solar power plants are relatively small generating less than one megawatt thus falling short of meeting their power needs. They, however, cannot be dismissed since they continue shifting from the main grid.

A report by BloombergNEF (BNEF) shows that companies are likely to install small solar powered plants for their internal use following due to incentives like a friendly tax regime and the availability of affordable solar equipment.

Kenyan companies switching to clean energy

Among companies switching to clean energy include Kenya’s largest flower exporting company, Oserian Development Company.

The company has hit yet another milestone by launching …

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 …