A Fresh Coat For Stone Town: Zanzibar’s Iconic Area Set For Transformation
Zanzibar has officially launched an ambitious project to repaint the entire Stone Town, a historic UNESCO World Heritage site, with work set to span nearly three years. In partnership with Infinity Group, a renowned property development company in Zanzibar, the Stone Town Authority is spearheading the initiative to restore and revitalize this culturally significant area. […]
A Coalition of Oil-producing African Countries is Seeking $5bn to Launch an “Energy Bank”
The 18-member African Petroleum Producers’ Organization hopes the lender can begin operating in early 2025, according to Haytham El Maayergi, executive vice-president of global trade at the African Export-Import Bank, a partner in the project. The African Energy Chamber, an advocacy group, has argued that Africa has the “sovereign right” to develop its natural resources […]
What does the Future of DPI in Africa look like, and How can it Unlock New Possibilities for Inclusive Growth?
Bisoye Coker-Odusote, Director General of Nigeria’s National Identity Management Commission, illustrated how DPI is already empowering citizens in Nigeria. Through AI-powered mobile identity systems, individuals can securely manage their data and access services, all while bridging gaps created by Nigeria’s 525 dialects. “AI helps ensure that language doesn’t further widen the marginalized gap. We’re using […]
Special Drawing Rights cannot Solve all of Africa’s Economic Challenges
In August 2021, as the shock from the COVID-19 pandemic battered their economies, African countries received a lifeline of US$33 billion from special drawing rights. This amounts to more than all the climate finance Africa receives each year, and more than half of all annual official development assistance to Africa. But at a time when […]
Ghana Exemplifies Africa’s New Gold Rush
The gold price has doubled since 2019, to a record high of more than $2,700 per troy ounce, promising higher margins for industrial miners but also encouraging more artisanal and small-scale mining (ASM). Nearly half of the roughly 1,000 tonnes of gold produced in Africa every year is mined in this way. It is the largest source […]
A New Tanzanian Railway could Supercharge Economic Development in East Africa
Authorities in the country hope its first electric-powered train — which connects the country’s capital Dodoma with the port city of Dar es Salaam — will kickstart other rail projects in neighboring countries, turning Tanzania’s line into the gateway to the Indian Ocean. The US and China are vying for influence over the continent’s rail […]
Senegal has been Removed from the Global “Dirty Money” Grey List
The Financial Action Task Force (FATF) took Senegal off the list after the country strengthened its measures to combat money laundering and terrorism financing, including implementing targeted financial sanctions and adopting a new bill against illicit financing. Senegal’s eurobonds were among the worst emerging market performers this month after the IMF flagged issues with underreported […]
The Demand for Cloud Computing Services in Africa is Soaring
Cloud technology is revolutionising how companies store and process data It offers increased flexibility, scalability, and cost savings. Businesses adjust resources in real-time, scaling their data and storage needs up or down as needed, without the heavy investments required to maintain physical servers on-site. According to data firm Xalam Analytics, Africa is seeing annual growth […]
Ensuring Sudanese Youth-led Businesses Find a Foothold in Egypt
Entlaq, an Egypt-based entrepreneurial think tank, has partnered with Savannah, a Sudanese incubator, to support Sudanese migrants and refugees entrepreneurs in Egypt. It will provide an incubation programme that includes workshops, training sessions, and mentorship programmes aimed at equipping entrepreneurs with the skills and knowledge needed to succeed. Business clinics will be offered to help […]
The Latest in Zimbabwe’s Currency Crisis
Less than six months after Zimbabwe launched yet another new currency, it was forced to devalue it, signalling new challenges for the Southern African country’s efforts to stand up a local currency and reduce dependency on the United States dollar. In April, Zimbabwe’s central bank launched the ZiG, or Zimbabwe Gold, which was hyped as […]
