AfricaBusiness.com - Africa Business

8Dec

By Africa BusinessNo Comments

Fintech

Benchmarking financial inclusion through innovation

Nikki Kettles, Executive: Licences and Payments Regulation at Mukuru Financial inclusion remains a pivotal conversation. It sits at the heart of transforming the narrative for the millions of unbanked and underserved communities across Africa, and it has the potential to reimagine the economic potential of the continent on multiple levels. It is also a conversation that has been had by the International Monetary Fund (IMF), the World Bank, and ongoing research, but there the gaps between those with access and those without remain extensive. There are ongoing issues inhibiting true financial inclusion as many still don’t have mobile devices, bank accounts, or access to the documentation or digital solutions that would allow them to become part of the global, financial community. It is a ...

6Dec

By Africa BusinessNo Comments

South Africa News

South African SMBs Confidently Chart Growth Amid Economic Uncertainties

Despite rising costs and global challenges, South African SMBs remain optimistic about the future as they ramp up digital investments Business confidence among South African SMBs remains strong at 78%, but opportunities abound to boost productivity and accelerate digital transformation. AI adoption gains traction, with two-thirds of South African SMBs investing in AI over the past year. Improved efficiency drive optimism, with 44% of SMBs citing it as a key factor behind their confidence. In an ever-changing economic landscape, South African (SA) Small and Medium Businesses (SMBs) are proving their resilience and adaptability. Sage’s annual survey of 12,000 small and medium sized business leaders globally – ‘Small Business, Big Opportunity’ - reveals that 78% of SA SMBs ar...

5Dec

By Africa BusinessNo Comments

Tech

New Report Reveals the Potential of Harnessing AI Innovations To Create a Thriving Labour Market for Africa’s Youth

Caribou Digital report finds Grassroots AI communities emerge as the strong nucleus for Africa’s AI ecosystem growth Leading research and advisory firm, Caribou Digital, in partnership with the Mastercard Foundation, has today released a new report titled; The Role of AI Innovation Clusters in Fostering Youth Employment in Africa: Opportunities, Challenges, and Implications. The report offers insights on what role Artificial Intelligence (AI) innovation can play in addressing Africa’s persistent youth unemployment challenges and shaping a more prosperous future for the continent’s workforce. The report makes a compelling call for a unified and strategic approach from governments, academia, Big Tech, and investors to cultivate and transform Africa’s AI ecosystem. In 2020, 60% of Africa’s...

5Dec

By Africa BusinessNo Comments

Fintech

Quantum Tech London 2024— Preparing for a Seismic Shift in the Cryptography Landscape

By Costas Valakas, Senior Solutions Consultant at Stanchion Payment Solutions Quantum computing is evolving at a faster rate than the industry anticipated just a few years ago, with many experts predicting that cryptanalytically relevant quantum computers (CRQCs) might be available by around 2030. This highlights the need for organisations to start preparing their digital platforms and products for the change sooner rather than later. This is one of the key takeaways from the Quantum Tech 2024 conference in London, which brought together global leaders, innovators and organisations to discuss the state of quantum computing and its implications for cybersecurity and cryptography. Here are some of the key discussion points I picked up at the event. Quantum computing is reaching an inflect...

5Dec

By Africa BusinessNo Comments

Business, Events, South Africa News

Women Entrepreneurs in Focus as 2024 TWIBA Winners are Announced

- In South Africa, there are over 2.4 million women working in the community social services sector, nearly 1.56 million in the trade industry, and around 1.3 million in the finance sector. - As businesses grow, the gender gap becomes more pronounced, with male entrepreneurs having almost twice the number of established businesses (7.9%) compared to female entrepreneurs (4.1%). - This disparity highlights the greater challenges women face in sustaining their businesses, rather than just starting them. Women represent half of the global population, yet studies consistently show they are less involved in entrepreneurial activities compared to men. However, empowering women has proven to drive sustainable development. When women have equal access to economic opportunities, they not onl...

5Dec

By Africa BusinessNo Comments

Energy, South Africa News

SOLA Group Reaches Major Milestone, Producing 1 Billion kWh of Clean Energy

Renewable energy provider SOLA Group has announced that it has successfully achieved its ambitious target of generating 1 billion kilowatt hours (kWh) of renewable energy by 2025—one month ahead of schedule. This milestone, reached at the beginning of December, marks a significant contribution to South Africa's renewable energy capacity and its shift toward a more sustainable energy mix, according to SOLA Managing Director, Katherine Persson. "Producing 1 billion kWh is enough to power almost all of Bloemfontein’s residential demand for an entire year. The majority of this energy was generated in recent months, showcasing the rapid increase in our clean electricity production," said Persson. Staying committed to its mission of community development, SOLA has focused on creating local emp...

3Dec

By Africa BusinessNo Comments

Africa Travel, Morocco News

Hilton Expands Multi-Brand Presence Across Morocco

Global hospitality company on track to more than double its Morocco portfolio, exceeding 20 hotels in the coming years with the signing of nine new properties, totalling over 1,300 rooms across seven global brands. Hilton bolsters luxury portfolio with the debut of Waldorf Astoria in the capital city of Rabat and the country’s first LXR Hotels & Resorts property in Casablanca. Brand debuts in the country also include lifestyle Curio Collection by Hilton hotels in Casablanca and Rabat, as well as value-driven Hampton by Hilton properties in Benguérir and Fes. Hilton (NYSE: HLT) is fast-tracking its expansion in Morocco, signing agreements for nine new hotels across seven of its global brands. This includes the debut of the prestigious Waldorf Astoria Hotels & Resort...

3Dec

By Africa BusinessNo Comments

Uganda News

Uganda Airlines Launches Flight Path Sustainability Project to Improve Aviation Safety and Environmental Conservation

- Uganda Airlines unveils the Flight Path Sustainability Project, aiming to reduce bird strikes by 40% near Entebbe International Airport through effective waste management. - The initiative tackles the global challenge of bird strikes, which cost the aviation industry $1.2 billion annually. - Environmental protection is a key focus, particularly safeguarding Mabamba Bay, a vital wetland ecosystem near the airport. - The project prioritizes community involvement, including empowering women fish traders in Kigungu with enhanced sanitation and innovative recycling solutions. - This initiative supports Uganda’s commitment to climate resilience and sustainable development, as affirmed at COP29. Uganda Airlines has launched the Flight Path Sustainability Project, an innovative waste manage...

1Dec

By Africa BusinessNo Comments

Business, South Africa News

10 Universal Mining Problems

OIM Consulting’s Group CEO Arjen De Bruin shares the most common workforce mining challenges found in Africa, Australia, South or North America – and what to do about them. When we’re faced with a seemingly insurmountable hurdle, many of us are guilty of believing that the problems we’re facing are unique to us only; and that there is no one else going through what we are. The same is true in the business world. For those working in mining in a particular region – be it Africa, Australia, South or North America – we see things through our regional lens, often not considering that the same day -to-day a challenges we face are similarly encountered by our global counterparts. Arjen de Bruin, Group CEO at OIM Consulting, says it is important to understand that many of the workforce challen...

1Dec

By Africa BusinessNo Comments

South Africa News

Stellenbosch Business School’s Small Business Academy Empowers Entrepreneurs with Comprehensive Program

Stellenbosch Business School’s Small Business Academy (SBA), established in 2012, annually empowers small business owners through a transformative nine-month program designed to foster business growth and societal impact. Dr Armand Bam Head of the Social Impact and Small Business Academy Programme believes “that the programme allows entrepreneurs to further the growth of their businesses through Masterclasses and Networking opportunities. He emphasized that even after the program business owners should continue to be hungry in seeking growth on improving their businesses”. The SBA program offers a comprehensive curriculum covering Business Essentials, Finance, Marketing, and Business Proposals, culminating in a Business Plan Presentation. Participants benefit from continuous development...