Burundi President Stokes Fear Among LGBT People
Comments Risk Fueling Violence and Discrimination In an ever-worsening climate for lesbian, gay, bisexual, and transgender (LGBT) people in East Africa, Burundian president Évariste Ndayishimiye has added fuel to the fire. Speaking with journalists on December 29, he said, “if you want to attract a curse to the country, accept homosexuality,” and “it is better to […]
Africa at Davos 2024
The meeting saw a keen focus on economic growth from African delegates and the launch of the Private Sector Action Plan, a first-of-its-kind initiative between the World Economic Forum and the African Continental Free Trade Area (AfCFTA) Secretariat. The initiative is comprised of 40 global companies. The announcement came after President Paul Kagame of Rwanda […]
A Sovereign-debt Crisis is the Biggest Issue Facing Africa Right Now
Standard Bank Chairwoman Nonkululeko Nyembezi was one of the first delegates from Africa to tackle this sensitive subject. According to the International Monetary Fund, more than half of the low-income countries in the region are now at a high risk of losing control of their debt, or are already in debt distress. Ethiopia became the […]
How did Deloitte, the Auditing Heavyweight Watching over Tingo’s Books, Miss a Scam?
Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. Hindenburg rolled out a report with a title that left little to the imagination: “Fake Farmers, Phones, and Financials – The Nigerian Empire That Isn’t.” But Hindenburg didn’t just call Tingo a clear-cut scam. The […]
The First Ever Green Bond has been Listed on the Lusaka Securities Exchange
The Kitwe-based Copperbelt Energy Corporation issued the bond through its subsidiary CEC Renewables and intends to use the capital raised for solar, wind, and other renewable energy projects across Zambia. The initial $54m tranche has been fully subscribed since its listing last week, with Zambia’s inaugural green bond attracting interest from banks, financial institutions, and […]
Fitch on Nigeria’s Clearance of Outstanding Foreign Exchange Liabilities
Credit rating agency Fitch has said that the Central Bank of Nigeria (CBN) still lacks the foreign exchange to clear the backlog of demand. It noted that the country’s high-interest payment to revenue ratio weighs on its sovereign credit rating. Gaimin Nonyane, director of Middle East and Africa sovereigns with Fitch said foreign exchange shortages […]
Top Smartphone Seller in Africa Posts 2023’s Highest Annual Growth in Unit Shipments
Transsion, the Shenzhen, China company shipped 95 million units of smartphones last year, 30.8% more than it did in 2022, according to technology research firm International Data Corporation. That was above Apple’s 3.7% growth, while Samsung, Xiaomi and OPPO each shipped fewer phones in 2023 than in the previous year. Africa is Transssion’s largest market, […]
Quality of Life Index Rates Africa
African nations are wrestling with various challenges that directly impact the well-being of their citizens. Economic inequalities remain a significant obstacle, as disparities in income and employment opportunities persist. In Africa, governments are getting down to business to bridge economic gaps. Their focus is on championing inclusive economic growth, fostering entrepreneurship, and investing in job […]
Ghana’s Plan to Pay Off Debt Underway
The International Monetary Fund’s board approved a first review of Ghana’s loan programme on Friday, allowing for the immediate disbursement of about $600 million under its $3 billion bailout programme. The decision comes after the gold, oil and cocoa producer reached a deal to restructure $5.4 billion of loans with its official creditors, a key […]
Google is Investing in the Potential of AI to Solve some of Africa’s Pressing Challenges
In 2018, the tech giant launched its first AI research centre on the continent in Accra, Ghana. In 2022, it expanded its presence by opening a product development centre in Nairobi, Kenya. The Accra Center, also known as Google Research Africa, is a hub for cutting-edge research and innovation, where a team of mostly African […]
