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Browsing: Sub-Saharan Africa
Food price inflation threatens to leave many individuals in a deteriorating food insecure position since over half of the foods consumed by Nigerian families come from purchases.
- Wheat is the third most consumed grain in Nigeria, with local production making up barely 1% of the 5 to 6 million metric tons of wheat used yearly
- Nigeria’s opportune investments in the fertilizer business set it as a credible alternative and regional fertilizer powerhouse
- Europe’s search for alternative energy markets and a reduction in its reliance on Russian oil and gas creates an opportunity for Nigeria
Recent global shocks and rising commodity prices
The recent spike in global market prices for essential food commodities is almost identical to the 2008 food crisis, posing a global danger to food security. The situation is exceedingly terrible in Africa, where the COVID-19 epidemic and, more recently, the Russia-Ukraine conflict have shown the susceptibility of …
- USSD is used extensively across Africa to enable mobile banking and mobile payments
- The African market generally uses USSD for various activities like transferring money, balancing cheques, doing top-ups, and buying data bundles
- USSD is available to feature phones and smartphones, allowing it to reach a broader audience compared to mobile apps
In just a decade, Unstructured Supplementary Service Data (USSD) has expanded from a niche offering in a handful of markets to a mainstream financial service, moving millions of households in Africa from the cash economy into a more inclusive digital economy.
Unstructured Supplementary Service Data (USSD) technology has played an instrumental part in Africa’s digital transformation. It is a smart move for any business to capture newer and unexplored markets, but it needs more disruption.
According to World Economic Forum, Africa needs long-term growth that benefits all Africans. That requires nothing less than an economic transformation. Sustainable and …
Although Germany is one of Europe’s most populous countries, its oil and gas output barely meets 5% of yearly consumption, leaving it heavily reliant on imports from Europe and Russia.
- For the foreseeable future, Germany requires a sufficient and stable supply of non-Russian fossil fuels.
- Surprisingly, most African sources of natural gas and oil lie in sub-Saharan Africa, including Nigeria, which possesses around one-third of the continent’s reserves, and Tanzania, opportunities Germany should seize.
- Until recently, it has been part of Germany’s epic energy myopia to believe that progress remains feasible without using conventional energy.
Consumers have had to bear the brunt of the oil shock crisis as inflation continues to rise worldwide.
During the late February invasion of Ukraine by significant oil producer Russia, Western countries imposed hefty penalties on Moscow for what they termed unjustified conflict, leading to a jump in oil prices. The West has scrambled …
- African countries need to take advantage of their 60 per cent global share of arable land to grow more food for domestic consumption and export to the global market
- Africa is heavily reliant on food imports from Russia and Ukraine and the Continent is already experiencing price shocks and disruptions in the supply chain of these commodities
- Nigerian business mogul and Africa's richest man Aliko Dangote has taken advantage of the shortfall in Russian fertilizer exports by opening a $2.5 billion fertilizer plant in Nigeria's main economic hub, Lagos
While Africa is yet to fully recover from the socio-economic repercussions of the COVID-19 pandemic, the Russia-Ukraine conflict poses another major threat to the global economy with many African countries being directly affected.
According to an article published by Aljazeera on May 6, 2022, the conflict in Ukraine and Western sanctions on Moscow are disrupting supplies of wheat, fertilizer, and other
- The Google product development centre in Nairobi has been launched weeks after Visa set up its first innovation centre in Africa
- Google, Microsoft and Visa join Cisco and Philips in setting up innovation centres strengthening Kenya’s Silicon Savannah moniker
- Visa’s innovation studio is the first in Africa and the sixth globally
The Google product development centre in Nairobi, Kenya has launched just two weeks after Visa set up its first innovation centre for the co-creation of payment and commerce solutions with partners.
Google, Microsoft and Visa join Cisco and Philips in setting up innovation centres strengthening Kenya’s Silicon Savannah moniker and as a tech investment hub in East Africa.
The tech giant’s facility, the first of its kind on the continent, is to create products and services that will have a significant impact on the African continent and beyond.
Besides the research and development centre, Microsoft has also …
- Sub-saharan Africa now faces new economic growth challenges, compounded by the Russian invasion of Ukraine
- A World Bank report estimates growth at 3.6 per cent in 2022, down from 4 per cent in 2021 as the region continues to deal with new COVID-19 variants, global inflation, supply disruptions and climate shocks
- Resource-rich countries, especially their extractive sectors, will see improved economic performance due to the war in Ukraine, while non-resource-rich countries will experience a deceleration in economic activity
As the Sub-Saharan African economy struggles to recover from the 2020 recession induced by the COVID-19 (coronavirus) pandemic, the region now faces new economic growth challenges, compounded by the Russian invasion of Ukraine.
The World Bank’s latest Africa’s Pulse, a biannual analysis of the near-term regional macroeconomic outlook, estimates growth at 3.6 per cent in 2022, down from 4 per cent in 2021 as the region continues to deal with new COVID-19 …
- Meta (formerly Facebook) has announced plans to shut down its low-cost Express Wi-Fi creating a need for accessible internet solutions in Africa
- Only 28 per cent of the population of sub-Saharan Africa had mobile internet connectivity in 2020 compared to 49 per cent of people globally
- 19 per cent of people in sub-Saharan Africa live in areas not covered by mobile networks while an additional 53 per cent did not use mobile internet despite having coverage
Countries in sub-Saharan Africa will need to up their ante in providing accessible internet solutions, especially in rural towns moving forward.
According to the African e-Connectivity Index 2021 released in November 2021 by GSMA, only 28 per cent of the population of sub-Saharan Africa had mobile internet connectivity in 2020 compared to 49 per cent of people globally.
The data further revealed that around 300 million people in sub-Saharan Africa had connectivity to the …
- Tanzania's cement demand is estimated to have clocked 5.9Mt and is growing fast.
- Maweni Limestone Ltd will be China’s first African entity producing cement on the continent instead of importing.
- The newly purchased plant by Huaxin Cement has already been upgraded to a production capacity of 1.6Mt/yr.
If there is a booming industry in Tanzania, it is the cement industry – an industry that has more than doubled in production in under a decade.
As of 2011, Tanzania was producing 2.4Mt annually, a figure that has shot up to 6.5Mt as of 2020.
Compared to the previous year, the production volume of cement grew by 44.5 per cent and is associated with rising construction activity in the country.
Another marker of how well the industry is doing is the amount of investment the sector is getting annually. Consider the most recent buyout of Maweni Limestone Ltd by China’s Huaxin
What has sparked this increase in tourists arrivals is, among other things, the country’s rigorous decimation of the Covid-19 uptake and the generally positive response of the public. Notably, as of 5th December 2021, almost 2 million (1,699,523) vaccine doses have been administered.
As was the case elsewhere in the world outbreak of the pandemic fall in tourism arrivals severely affected the economy and more so the tourism and hospitality sectors.
To get a perspective of how the two sectors in Tanzania were hard hit, consider the fact that tourist arrivals in 2019 were slightly above 1.5 million yet this number dropped more than 50 per cent to a lowly 600,000 tourists in …
20 years of US-Kenya trade:
Kenya is one of the top five beneficiaries of the US-Africa trade initiative, the African Growth and Opportunity Act (AGOA). It also had the second-highest utilisation rate in 2018 with over 70 per cent of its US exports covered by the programme.
Launched in 2000, the trade pact gives sub-Saharan Africa the most liberal access to the huge US market available to any country or region with which Washington does not have a free trade agreement. The initiative has had a significant impact on stimulating Africa-US trade.
Exports to the US from eligible African countries grew by over 272 per cent, from USUS$22 billion in 2000 to USUS$82 billion in 2008.
Probably due to Covid-19 disruptions, exports declined to USUS$18.4 billion in 2020. Despite these fluctuations, Africa maintained a positive balance of trade with the US in the 2000-2020 period, thanks to AGOA eligible products…