Author Archives: Africa Business

Caribou Digital Launches New Book, The Platform Livelihoods Project: Research Exploring the Workplaces of the Digital Age in Africa & Indonesia

This pioneering research, conducted in partnership with the Mastercard Foundation and with the support of the Bill & Melinda Gates Foundation explores the pervasive digital workplace landscape in Africa and Indonesia. The research reveals the scale of dependency millions of Africans have on digital marketplaces for their livelihoods, where 27% of Kenyan farmers claim to use Meta (Facebook) to sell information and buy produce. In examining marginalised groups, people with disabilities shared in-depth accounts of challenges faced with their user experience, such as a lack of screen-reading technology for the visually impaired, inhibiting full participation. Caribou Digital calls for better governance and inclusivity for Africa’s digital marketplace to ensure it unlocks its projected reach of $72 billion by 2026.

Club Med reaches nearly 2 billion Euros in business volume for the first time in its history

After returning to its pre-pandemic level as early as in 2022, Club Med, pioneers of global all-inclusive holidays, reached nearly 2 billion Euros in business volume for the first time in its history. Club Med’s record business performance in 2023 is the result of the transformation of its business model towards an upscale, glocal and happy digital offering, initiated in 2004. In 2023, 97% of the Resort portfolio consisted of Premium and Exclusive Collection Resorts and will achieve 100% by April 2024.

Africa Data Centre Market is Projected to Reach $7bn by 2028

Africa’s data centre market is growing at an unprecedented rate, driven by increasing internet penetration, rapid adoption of cloud computing, and soaring demand for digital services. As the continent embraces the digital revolution, the data centre market is projected to reach over $7 billion by 2028, an annual growth rate (CAGR 2024-2028) of 7%. This growth is not only transforming Africa’s digital landscape but also presenting significant opportunities for investors, technology companies, and local businesses.

Adenia Closes Fifth Flagship Fund Oversubscribed at $470M

Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has successfully closed its fifth fund, Adenia Capital V (the “Fund”, “AC(V)” or “Fund V”) at its $470 million hard cap. The Fund, which was significantly oversubscribed, attracted commitments from new and existing investors globally.

Bias-free Futures: Strategies for Ethical AI Implementation

As organisations step up efforts to leverage the capabilities of artificial intelligence (AI), it is essential for both AI developers and regulators to consistently contemplate, integrate, and advocate for ethical considerations throughout the entire process. That’s according to Hope Lukoto, Chief Human Resource Officer at BCX, who points out that while AI promises a plethora of business benefits, responsible use of the technology is key to unlocking its full potential.

The rise of Gen Z means a rethink of permanent employment is on the horizon

We are witnessing a clash between businesses pushing for in-office work and Gen Z workers who prioritise flexibility, environmental consciousness, and inclusivity. Even remote-working advocate, Zoom, has demanded that those within 80km of the office need to work in-person twice a week. As Gen Z becomes the dominant demographic in the future workforce, project-based independent contracting and remote collaboration are gaining popularity as preferred modes of work. Gary Silbermann, Co-Founder & Innovation Director at One Degree shares that there doesn’t have to be an ongoing battle between C-suites and younger workers.

The African Continental Free Trade Area Investment Protocol signalled a new era in sustainable trade and investment

The African Continental Free Trade Area (AfCFTA) is predicted to increase Africa’s trade income by USD 450 billion by 2035 and will boost intra-African trade by more than 81 percent, according to a recent report by the World Bank.

The $3bn Private Credit Opportunity in Africa

Africa’s mid-market businesses, the backbone of the continent’s economic growth, can find themselves trapped in a financing void. With annual revenues typically surpassing $10 million, these companies find themselves in a precarious position – too large for microfinance, yet too small or risky for traditional banks.

How Effective Rebranding Can Redefine and Elevate Your Business

In an era where change is the only constant, businesses must adapt and evolve to stay ahead. Penquin, the brand and communication agency based in Johannesburg, is leading by example, embracing transformation with open arms. The agency recently made headlines with the unveiling of its brand-new logo and refreshed corporate identity (CI), marking a significant milestone in its journey.

Egypt and the Big 5 Dominate Hotel Development in Africa

In 2024, Egypt and the Big 5 global hotel chains—Accor, Hilton, IHG, Marriott International, and Radisson Hotel Group—lead Africa’s hotel development, capturing a market share of 28% and 71% respectively, as per the latest African Hotel Chain Development Pipeline report by W Hospitality Group. With over 92,000 rooms in 524 hotels across the continent, the report highlights a surge in resort growth and Egypt’s remarkable dominance in the market.

South African consumers feel the big squeeze: 99% have changed their FMCG shopping habits to save money

According to NIQ, 44% of South African consumers feel they are in a worse financial position this year compared to a year ago. Of those respondents, 82% say that increased costs of living are to blame for their recent financial struggles, up from 76% a year ago. Nearly two-thirds (62%) state they are worse off due to the economic slowdown, up from 57% a year ago. These findings appeared in “Consumer Outlook 2024″, the latest NIQ Thought Leadership report capturing the mindset and sentiment of consumers around the world.

Africa Fintech Summit Rolls Out Nigeria Fintech Marketing Outlook 2024, Featuring Trends, Perspectives, Growth Strategies, and More

The Africa Fintech Summit (AFTS) releases its insightful “Nigeria Fintech Marketing Outlook 2024” report, shedding light on the current state and future direction of marketing strategies within the nation’s booming fintech industry.

Navigating healthcare uncertainty across Africa

In the article, Rodney Taylor, MD at Guardian Eye, sheds light on the multiple challenges faced by healthcare systems in Africa, such as accessibility, cost constraints, and the potential for digital technologies to transform the sector. He argues that technology can only be effective if it is accessible, affordable, and culturally appropriate.

How will Digital Transformation evolve the Blockchain Practices in African Countries?

The use of blockchain practices has been rising in every industry. Today, every single industry is making the most out of it and making things easier for their audience to deal with it. If you are thinking how blockchain practices is going to get better with digital transformation, then you have landed on the right page. 

Fintechs are aiding financial inclusion across sub-Saharan Africa

Fintechs are driving financial inclusion in sub-Saharan Africa by providing safer and more affordable solutions for cross-border remittances, reducing costs by 50% in the past decade. These fintechs are enabling people to join the formal economy and access a range of financial services, contributing to lasting financial inclusion in the region.

Five Reasons Morocco Should Be Top Of Your Travel Bucket List

Morocco is fast becoming a sought-after destination on the continent. This diverse country, with its blend of ancient traditions and modern allure, offers travellers distinct experiences in its major cities, making it immensely popular. From diverse landscapes and desert adventures to vibrant souks, hammams and historical sights, Morocco has it all.