Africa is Beginning to Tap into this Lucrative Resource
Carbon credit markets enable industrialised nations and businesses to offset their carbon emissions by investing in eco-friendly projects elsewhere. One carbon credit or offset represents one metric ton of carbon dioxide removed from the earth’s atmosphere. Africa, with its wealth of renewable energy sources, can benefit considerably through judicious and informed use of these markets. […]
Ruto’s Vision of Creating Jobs Using Technology
A claim by Kenyan President William Ruto that tech giants want to hire up to 300,000 Kenyan online workers is eliciting sharp reactions, including public criticism. Ruto made the statement earlier this week, shortly after leading a US-Kenya business roadshow in which he pitched the country to top US tech companies and investors in Silicon […]
“Sub-Saharan Africa is a Continent of Opportunity” – IMF Chief
The region is expected to see a brighter economic outlook in 2024, according to IMF chief Kristalina Georgieva, she made the comments in a speech at the Brookings Institution on Wednesday, where she said that growth in sub-Saharan Africa is expected to accelerate to 3.5% in 2024, up from 3% this year. She attributed the […]
The Egyptian Arabic Word for Bread is the Same as the Word for Life, Showing the Foodstuff’s Importance in the Country
Nearly two-thirds of Egypt’s 106m-strong population rely on subsidised bread. Partly as a result, they devour about three times the global average per head. But as its population grows and climate change makes wheat harder to grow, the government’s determination to provide its people with cheap bread looks ever less sustainable. Bread subsidies are already […]
Moroccan Companies are Looking South
Investment banks, brokers, and corporate organisation charts usually classify Morocco as part of the Middle East and north Africa, or MENA — reflecting the country’s strong cultural, linguistic and historical links with the Middle East. But Saïd Ibrahimi, chief executive of Casablanca Finance City, launched in 2010 to help promote Morocco as a “gateway” to […]
Zambia is Planning to Sell a Green Bond that would Direct 30% of what it Raises to Biodiversity Initiatives
The southern African nation is also developing guidelines to regulate the production of carbon credits on its territory, the country’s Minister of Green Economy and Environment, Collins Nzovu, said. In addition to the interim rules, the Ministry has been developing the climate change bill, which is at an advanced stage and will provide for the […]
South Africa’s First Virtual Electricity Transfer Model is likely to Go Live by Late 2024
The move that could rapidly ramp up renewable power consumption and reduce the burden on ailing state utility Eskom. The utility in August signed an agreement with Vodacom (VODJ.J), the African telecoms arm of Vodafone (VOD.L), to introduce an electricity transfer model known as virtual wheeling, which will allow a consumer to buy renewable power […]
Ghanaian Fintech Dash’s Tumultuous Run Ends
The company did not achieve its vision to solve cross border payments for Africans by connecting mobile money wallets. Dash was founded in 2019 by Prince Boakye Boampong, and investors were excited by the problem the startup wanted to solve. Dash was working to ensure interoperability between mobile money wallets and bank accounts across Africa; […]
The Currency Performance of African Countries with the Largest Gold Reserves
As of June 2023, Algeria held the highest gold reserves in Africa, estimated at 174 tons, according to data from Trade Economics. Notably, Algeria’s gold reserves remained stable at 173.56 tonnes in the second quarter of 2023, consistent with the first quarter. Egypt ranks second among African nations with the highest gold reserves, holding 126 […]
Improving Agricultural Practices in Africa by Creating Wider and Better Access to Smart Agriculture Services
German government-funded initiative Make-IT in Africa and mobile operator Orange have opened applications for the GreenAPI: Smart Agriculture Programme, which aims to help agri-tech startups in Senegal scale more quickly. It leverages digital agricultural platforms (DAPs) to bundle smart agricultural products and services and thereby allow smallholder farmers to access a full range of services […]
