A recent study by Digital Impact Awards Africa (DIAA) has revealed that at least 5,000,000 regular users of mobile financial services in Uganda during a 3 months period spent 7,113,356 man hours (296,390 man days) to clear simple financial transactions and saved 57,989,660 productive hours (An average of 19,329,887 million hours a month) that would otherwise be spent on using traditional transactions payment means.
Blockchain, the digital ledger that underpins cryptocurrency Bitcoin, is a software platform for digital assets; a clever piece of distributed database technology, which is waging a silent revolution that could take it way beyond its financial roots to radically change the way our society works.
With Sukuk & Innovation Driving New Growth Momentum, the Prospects for Islamic Finance in Africa Look Increasingly Promising
Despite being in the early phases of development, the Islamic finance industry in Africa is fast gaining the attention of key stakeholders including central banks & regulatory authorities, as well as the leading international Islamic financial institutions and investors seeking to tap into high-growth opportunities on the continent
- Significant progress was made in discussions of the economic policies and reforms that could be supported by a new IMF arrangement
- Real growth is expected to 6.7% in 2017 supported by dynamic activity in the mining and construction sectors and good agricultural performance;
- Average inflation would remain moderate at 8.5 percent in 2017.
An International Monetary Fund (IMF) mission led by Giorgia Albertin visited Conakry from July 31 to August 15, 2017 to negotiate a new program that could be supported by an Extended Credit Facility (ECF).
The U.S. Trade and Development Agency awarded a grant supporting a feasibility study for a 130 MW wind power project in Zambia. The grantee is Access Zambia Wind One Limited, a wind power project developer and subsidiary of Access Power, a Power Africa partner and developer, owner, and operator of power assets in emerging and frontier markets.
Mali is the third largest gold producer in Africa and gold mining has become a mainstay of the economy with a high potential of funding economic development and poverty reduction. With the country’s improving governmental policies encouraging a more sustainable transparent and diversified mining sector, Mali has become a hotspot for foreign investment and major extractive companies focusing on other minerals in the country as well such as uranium, bauxite, iron, manganese and phosphates.
The Country profiles provide evidence based information and analyses on socio-economic trends and tracks progress in areas of regional integration, gender equality and social development in member-states
AGOA is a unilateral Act of Congress that was introduced in 2000 to provide duty-free quota-free treatment for over 6 000 tariff lines into the United States market
LUX* Resorts & Hotels has implemented 130 solar panels and batteries to fully substitute diesel-based power generation for the needs of Ile des Deux Cocos, off-grid South-East Mauritius (www.iledesdeuxcocos.com/fr). The 20kWp project’s state-of-the-art design and storage solution will allow for 11 hours of utilization daily and fulfill self-sufficiency of the property including during night-time.
Due to their potent blend of trail‐blazing technology and disruptive innovation, FinTech players have the ability to accelerate the digital transformation of financial services in Africa and, in turn, further spur incumbent banks to rapidly ramp‐up their own innovation initiatives to meet the financial needs of under‐served markets across the continent.
African Real Estate & Infrastructure Summit comes to Gauteng in October to focus on continent’s urban opportunities and challenges
Africa’s cities are facing an urban ‘polycrisis’
Nigerian Economic Recovery through Industrialization and Diversification by Public and Private Sector Synergy
The current economic crisis and recession in Nigeria has brought to the fore what is already known: that the existent Nigerian national economy is not organized for internal self-propulsion and autonomous economic and business activities. The Nigerian economy, since independence, has been operated by the maintenance of the neo-colonial system of development incapacitation, primary commodity export, dependency and poverty generation. Its basic and long-standing focus has been on the expanded production and export of primary commodities, such as agricultural products like palm oil, groundnut, cotton, cocoa, rubber in the 1960s and 1970s and subsequently crude oil since the 1970s. But as raw material export depends on external demand, it does not activate autonomous and secure economic activity. Therefore, the Nigerian economy has no internal capacity for mass production and self-propulsion. It is a large, unfree, dependent and unviable economy.