African Currencies are Depreciating against the Dollar
As the global economy sinks into another period of crisis, one indicator is shooting upwards: the value of the US dollar. With around half of all international trade invoiced in dollars, a stronger greenback hurts consumers across the world – including in Africa – that use dollars to pay for imports. The worst hit currency […]
Rallying Around Zimbabwe’s Economy
African leaders are using the ongoing United Nations General Assembly to push for an end to a two-decade-long Western embargo against Zimbabwe, arguing that the sanctions are hurting ordinary people and the region. African Union (AU) chairperson and Senegalese President Macky Sall led the charge when he delivered his address at the UNGA 77th session […]
South Africa’s Latest Rolling Blackouts Takes its Toll on Fundamental Sectors of the Economy
Earlier this month, Stats SA reported that the country’s gross domestic product decreased by 0.7% in the second quarter of 2022 – much of this decline was attributed to rolling blackouts which hobbled economic output. But aside from the damage done to the economy in general, specific sectors are now sounding alarms over the harm […]
Africa’s Top Mobile Internet Speed Falls Short of the Global Average
This is according to the 2022 Speedtest Global Index published by US-based internet speed analysis firm Ookla. South Africa, the continent’s internet speed leader—with an average mobile internet download speed of 68.9 megabits per second (mbps) is way below the global average mobile download speed of 77.7 mbps. Ookla also compared mobile internet performance in […]
Can Nigeria’s National Carrier Rise from the Ashes?
Nigeria plans to revive the national carrier nearly 20 years after its predecessor collapsed under a cloud of debt, mismanagement and corruption as outgoing President Muhammadu Buhari seeks to cement his legacy. The airline plans to take to the air by the end of the year with services between Lagos, Nigeria’s commercial hub, and Abuja, […]
Egypt to Raise Transit Fees in 2023 for all Types of Vessels Passing through the Suez Canal
According to a statement released by the Suez Canal Authority, transit fees for tankers passing through the canal will rise by 15%. The increase for dry bulk carriers and tourist ships is 10%. The fee hikes will take effect on Jan. 1, 2023. “The increase is inevitable and a necessity in light of the current […]
Tough Times Lie Ahead for Banks in Africa
The next 12-18 months will be “very difficult” for African banks as widespread inflation, currency devaluations and interest-rate hikes sweep the region, a senior director of credit ratings agency Fitch said on Wednesday. Growth opportunities over the next one-and-a-half years will be limited, but regional banks are expected to maintain their profitability in the face […]
Top 3 Finalist For The World’s Best School Prizes: Project Shelter Wakadogo, Northern Uganda
Ugandan school, Project Shelter Wakadogo, which supports vulnerable and hard to reach children, has been named as one of the top 3 schools globally by World’s Best School prizes in the Overcoming Adversity category. The category recognises that adversity will come in many forms for schools, including conflict, climate-related disasters, poverty, or a pandemic. It […]
The Search For South Africa’s Next Generation Of Creative Sensations Is Back!
Applications to participate in the Design Indaba Emerging Creatives Class of 2023 are now open! Are you ready to take your creative pursuits to the next level? The Design Indaba Emerging Creatives programme, which aims to unearth fresh talent across a multitude of creative sectors, is once again issuing a Call for Entry for this […]
AfDB On How South Africa Should Use its Climate Funding
The African Development Bank has suggested a plan to South Africa that will help the nation use the $8.5 billion in climate financing pledged by some of the world’s richest nations to raise even more funds. The AfDB has recommended that South Africa park the funds in a special purpose vehicle, bank President Akinwumi Adesina […]
