DR Congo and Zambia Seek Profits in Copper Trading Amid Demand Surge
As the Mining Indaba conference approaches, Africa’s largest copper producers, the Democratic Republic of Congo and Zambia, are working to secure deals that enable them to profit from metal trading. Together, they supply over 13% of global copper, and with rising demand linked to AI and cleaner energy, they are looking to maximize their share […]
Cheaper Chinese AI Sparks Hope for Africa’s Economic and Social Growth
The launch of DeepSeek’s AI model, which claims to be significantly cheaper than US competitors like ChatGPT, has raised expectations that Africa could benefit from affordable AI technology. DeepSeek’s “R1” model, which cost $6 million to train compared to OpenAI’s $100 million for ChatGPT-4, could allow Africa to harness AI for solving key issues such […]
French Giant Faces Delays as U.S. Blocks Mozambique LNG Project Funding
TotalEnergies failed to secure U.S. approval for nearly $5 billion in financing for its Mozambique LNG project before the Biden administration left office. CEO Patrick Pouyanné had urged officials to expedite approval, fearing further delays under Trump. The U.S. Export-Import Bank is now reviewing the project’s terms. Security concerns, Islamist insurgency, and human rights allegations […]
Harare wants to Formalize its Economy and Boost Business Stability Using these Reforms
Zimbabwe is taking bold steps to formalize its economy and create a more sustainable business environment. Finance Minister Mthuli Ncube announced new policies aimed at curbing the informal sector’s dominance, which threatens formal businesses. To enhance tax compliance and streamline retail operations, all informal traders will be required to use point-of-sale machines, while manufacturers will […]
AI-Powered Fraud Surges in Africa, Driving Growth in ID Security
Generative AI contributed to over a third of biometric fraud cases in Africa in 2024, with deepfake-related identity theft increasing sevenfold. The rise of digital banking and e-commerce has heightened fraud risks, particularly in regions lacking strong cybersecurity frameworks. Companies like Smile ID and YouVerify are capitalizing on this challenge, attracting venture capital to develop […]
Barriers to Turning Nigeria’s Plastic Waste into Economic Opportunity
Nigeria is addressing plastic waste by transforming it into an economic asset. A study in Ogun State revealed that education, family size, religion, gender, and economic factors shape perceptions of plastic waste collection as a business. Higher education levels improve recognition of waste collection as a structured industry, while cultural and religious values promote its […]
Remittances in Africa: A Vital Lifeline Amid Economic and Systemic Challenges”
In 2023, remittances to Africa reached $100 billion, surpassing both foreign aid and direct investment. This highlights the growing importance of diaspora contributions to African economies. However, barriers such as high transaction costs, regulatory hurdles, and inefficient financial systems limit the potential impact of these remittances. Countries like Egypt, Nigeria, and Ghana are leading, while […]
Yellowcard Leads Africa’s Crypto Revolution, Transforming Financial Systems for All
Bitcoin’s origins in defiance of traditional banking have evolved into practical applications, especially in Africa. Yellowcard, founded in 2016, has become a pioneer in simplifying crypto access across the continent. CEO Chris Maurice emphasizes crypto’s role in providing financial services to underserved markets. As governments in Kenya, Nigeria, and Rwanda embrace crypto regulation, the shift […]
South Africa’s Remote Work Visa Attracts High-earning Global Professionals
Cape Town is enjoying the perks. Introduced in October by Home Affairs Minister Leon Schreiber, the visa allows high-earning foreign professionals to live and work remotely in South Africa. Applicants must earn at least R650,000 annually, have a valid passport, no criminal record, and come from a country with a tax agreement. The visa aims […]
Meta Faces $2.3bn Lawsuit Over Facebook’s Role in Ethiopia Killing
A Kenyan court will soon decide whether it has jurisdiction over a $2.3 billion lawsuit against Meta, filed by Abrham Mearag and others. They claim Facebook’s algorithms amplified hate speech, leading to real-world harm, including the murder of Abrham’s father during Ethiopia’s civil war. Despite repeated reports, Meta allegedly failed to remove dangerous posts. Since […]
