Lack of Local Investment in African EV Firms Threatens the Growth of the Continent’s Green Transportation Sector
Demand among individuals and companies for e-buses, electric two-wheelers and three-wheelers is surging across the continent, say industry insiders and analysts. However, limited financing has fallen well short of the levels needed to keep up with that demand, making it hard for companies to produce vehicles and keeping the cost of EVs high for consumers. […]
African Cities are not yet the Engines of Growth that they Should Be – Report
Unless urgent changes are made, African cities will neither demand nor receive the finance they desperately need to meet the challenges of their unprecedented urbanisation, says a new report from the African Development Bank (AfDB). With the population of Africa’s cities expected to nearly triple in the next 25 years, the AfDB proposes key strategies […]
The Rise of Local Chains Reflects Deeper Trends on the Continent
To walk along the main road in Ruaka, a town on the outskirts of Nairobi, is to glimpse the extremes of African shopping. Market stalls selling vegetables and charcoal spill onto the street. In the distance is a plush mall with a Carrefour, one of 20 franchises of the French supermarket in Kenya’s capital. Further […]
Gabon Pays the First Instalment of Conservation Fund Money
It forms a key part of a pioneering “debt-for-nature” deal sealed just before its coup. The $500 million debt swap was the first of its kind on continental Africa and saw the government of overthrown president Ali Bongo commit to protect Gabon’s coastal waters that host the world’s largest population of leatherback turtles. His removal […]
Malawi Gets Boost to Unlock more Financial Support from Development Partners
The International Monetary Fund signed off on a $178 million loan for Malawi to boost its foreign-exchange reserves, support the debt-ridden nation’s economic revival and catalyze grant financing, a week after the southern African nation devalued its currency. The 48-month extended credit facility “will support the authorities’ macroeconomic adjustment and reform agenda aimed at restoring […]
Ethiopia’s Only Foreign-Owned Financial Company is Set to Shut Operations
Ethio Lease, the New York-based African Asset Finance Company (AAFC), a leasing firm targeting emerging markets, said it had directed its Ethiopian unit “to begin the process of voluntary liquidation”, citing forex constraints. “As a result of the changes to the regulatory framework, the viability of Ethio Lease as a foreign-owned leasing company became structurally […]
The State of Road Infrastructure in Africa
In the context of Africa, many countries are putting money where the asphalt is. The primary motivation behind these investments is the understanding that well-developed roads translate to economic growth, job creation, and well-connected communities. Beyond the physical connectivity, good roads have become emblematic of a nation’s commitment to progress, offering smoother travel for citizens […]
Gathering Real-world Data in African Regions is Difficult, Expensive, and Time-consuming
The data availability and consumption discrepancy between Africa and the rest of the world reflects more profound disparities and has significant repercussions. As a result, critical innovations in health, education, and transportation operate better for the rest of the globe than for Africa. For example, due to Africa’s relative data scarcity, AI systems in Africa […]
Too Many Cooks in the Kitchen
Bolt Food, the food delivery service of the ride-hailing company Bolt, announced its exit from Nigeria and South Africa. It entered the Nigerian and South African markets in October 2021 and March 2022, respectively, hoping to leverage its existing transportation network and customer base to offer a convenient and affordable food delivery service. However, both […]
Building an Entrepreneurial University in Somalia
Somalian incubator SIMAD iLab has undergone an upgrade and expanded its offering after making a serious impact on the local startup ecosystem in the five years since its launch. Founded in 1999, SIMAD University is a private university based in the Somali capital of Mogadishu. It offers a range of undergraduate courses, but five years […]
