Kenya’s Trailblazing Energy Transformation Policy is Now Inspiring Others
The Great Rift Valley — a geological formation running 6,000 kilometers from Eritrea to Mozambique — offers bountiful opportunities: Not only is this area rich in geothermal activity underneath the earth’s surface, the earth’s crust is also particularly thin here, making exploration relatively easy. The Olkaria Geothermal Power Station is a perfect example: the facility […]
The NGX Maintains its Record
Nigeria’s major stock market, extended gains led by cement giants and banks to push the main index past a psychological threshold of 100,000 index points for the first time. The exchange has this month maintained its position as the best-performing stock market globally, ending the trading day on 25 January at 120,149.93 index points. Although […]
Africa’s Most Mature Startups Felt the Toughest End of the Tech Funding Crunch of 2023
According to a new report by venture capital firm Partech, the average investment into African growth stage startups last year was $34.7 million for equity deals, 31% lower than in 2022. Africa’s reliance on foreign investors for large tech deals is due to the fact that few African private equity funds or venture capitalists are […]
Ivory Coast Looks Set to End a Near-two Year Drought of International Debt Sales
The world’s largest cocoa producer, which operates within the West Africa Economic and Monetary Union (WAEMU) whose currency is pegged to the euro, had focussed on issuing bonds denominated in euros to reduce its currency exposure. “Ivory Coast has one of the most solid macroeconomic foundations in Africa,” said Ashmore’s Gustavo Medeiros. “A Dollar denominated […]
How these African Countries Beat Inflation
High food inflation causes tremendous problems for individuals, communities, and nations as a whole, particularly in Africa, given its status as a developing country. Vice versa, low food costs allow an economy to run more smoothly given that people’s disposable income is not spent entirely on the most basic commodity. While numerous African countries struggle […]
What Drives the Tariffs of Imported Vehicles into South Africa?
Currently, the country levies a 25% import tax on EVs, compared to 18% for internal combustion engine vehicles (ICEVs). In a recent exchange on X (formerly Twitter), South Africa-born, Elon Musk, CEO of Tesla, addressed the barriers hindering Tesla’s entry into the South African market. Responding to a question about Tesla’s absence, Musk cited “super high” […]
DRC President to Use $7 bn from a Renegotiated Chinese Mining Deal to Build Roads
In a surprise announcement last weekend, Tshisekedi said that talks between his government and a consortium of Chinese investors over rebalancing the so-called Sicomines mining agreement would bring in $7 billion to the Congolese treasury. The sum represents a huge and possibly transformative opportunity in the impoverished central African country of about 100 million people, where […]
10 African Tech Ventures that will Showcase their Solutions to an Audience of Industry Experts
Africa Tech Summit Nairobi is a leading African tech event providing insight and networking with the African tech ecosystem, bringing together tech leaders, MNOs, banks, international investors, entrepreneurs, governments, trade bodies, media and leading ventures to drive investment and business in African tech. The sixth edition of the event, powered by global account receivable and expense […]
This Man Quickened a Slow Cook Nigerian Delicacy
In each crowded Lagos suburb, there’s a high chance you meet a hawker selling African salad, locally known as Abacha. It’s a popular dish from the Igbo tribe in the Nigerian South East, and to many, it’s a taste of home. But there’s a problem with this meal: it’s highly perishable. This, combined with the […]
Ban on Styrofoam and Single-use plastics in Lagos Divides Opinion on the City’s Streets
Officials announced there would be an extension of three weeks before the ban’s enforcement to give distributors and producers time to source reusable options. While the ban has been welcomed by some, others worry about its impact on business costs. Lagos officials have said that traders and distributors who fail to follow the ban could […]
