Africa Business, Author at AfricaBusiness.com

18Jun

By Africa BusinessNo Comments

Business

Strengthening Bridges: Exploring the Dynamics of Türkiye – UK Investment Relations

The International Chamber of Commerce (ICC) in Paris is dedicated to fostering international trade and investment. Its very mission is to promote open markets, responsible business conduct, and a level playing field for enterprises worldwide, which was the vision of Étienne Clémentel when the ICC was originally founded. Today, the ICC represents over 45 million companies in more than 170 countries, including the United Kingdom and Türkiye. By providing essential services such as dispute resolution and policy advocacy, the ICC and the ICC International Court of Arbitration (ICC Court) plays a pivotal role in facilitating cross-border economic activities. This commitment is particularly relevant in the context of investment relations, where the ICC's efforts to streamline and safeguard int...

18Jun

By Africa BusinessNo Comments

African News, Kenya News, Medicine

De-risking vaccine production in Africa presents substantial challenges, but not insurmountable

Several public and private stakeholders in our healthcare sector were shocked to learn of Moderna’s decision to abandon its plans to establish a vaccine production facility in Kenya last month, raising repeated concerns about vaccine accessibility and production capacity in Africa. “The indignation and frustration that many felt at reading these headlines places us among the thousands who, like most Africans, view Moderna’s decision as confusing and, once again, part of the trend of relegating Africans’ health and wellbeing to the whims of corporate interests,” shares Michael Mynhardt, CEO at MMH & Partners Africa. He adds that prior to the COVID-19 pandemic, people living in Africa were aware that the continent was partly, and in some cases wholly reliant on external actors for its ...

Flexibility choices could be a fatal blind spot in Africa’s renewable energy transition

18Jun

By Africa BusinessNo Comments

Energy

Flexibility choices could be a fatal blind spot in Africa’s renewable energy transition

By Marc Thiriet, Director, Africa, Wärtsilä Energy It is no longer disputed that solar and wind power will be the foundation of Africa’s future energy systems. They are perfectly suited to the continent’s unique conditions and are already the most cost-competitive power option in almost all cases. This consensus spans academia, businesses, and policymakers who all recognize the potential of renewable energy to meet Africa's growing needs sustainably. They also readily acknowledge the intermittent nature of renewables, and the associated need for flexible power capacity within the electricity networks to ensure safe and steady supply. It’s a good start. But the real challenge revolves around determining which technologies are best suited to provide it and the actual extent of flexible ca...

World’s first large-scale 100% hydrogen-ready engine power plant launch by Wärtsilä

18Jun

By Africa BusinessNo Comments

Energy

World’s first large-scale 100% hydrogen-ready engine power plant launch by Wärtsilä

Technology group Wärtsilä has today launched the world’s first large-scale 100% hydrogen-ready engine power plant, to enable the net-zero power systems of tomorrow. The IEA World Energy Outlook 2023 shows that hydrogen is an essential component of our future power systems. According to the report, the pathway to reach net zero emissions by 2050 requires 17 Mt of hydrogen to be consumed in power generation in 2030, reaching 51 Mt by 2050. The deployment of renewables worldwide is set to double by the end of this decade, creating the right conditions for excess clean electricity to be used for production of hydrogen-based, carbon neutral fuels, and for enabling 100% renewable power systems. Scaling up renewables alone, however, is not enough to reach global net zero targets. Flexible pow...

Local couriers face unprecedented challenges as Amazon, Shein and Temu disrupt SA’s e-commerce market

11Jun

By Africa BusinessNo Comments

South Africa News

Local couriers face unprecedented challenges as Amazon, Shein and Temu disrupt SA’s e-commerce market

Competition amongst local couriers has increased dramatically with the emergence of e-commerce giants, like Amazon, Temu and Shein into the South African market impacting both the micro and macro environments and leading to a greater demand and delivery volume. South Africa’s e-commerce market is expected to reach US$16.3 billion by 2030, with an annual growth rate of 15%, according to a RationalStat report.[1] Another factor contributing to this exponential growth of online shopping is the surge in Gen Z’s shopping habits: with a whopping 98%[2] of tech-savvy Gen Z owning smartphones, 32% of them shop online at least once daily (compared to 25% of millennials, 15% of Gen X and 7% of baby boomers)[3]. Gen Z, the digitally native generation born between the mid-1990s and early 2010s, are ...

11Jun

By Africa BusinessNo Comments

Fintech

Investment bank predicts Africa’s remittance market will reach $500bn by 2025

Increased competition, stakeholder collaboration and investment in financial infrastructure can all contribute to lower global remittance fees, says Risana Zitha, Managing Director and Head of Africa at DAI Magister Remittances comprise a significant portion of African Gross Domestic Product (GDP), with the total value of remittances across the continent reaching nearly $100 billion in 2022 − $20 billion of which was intra-African flows. Despite the importance of remittances to the African economy, the cost of sending money to the continent remains very high. The UN Sustainable Development Goals state that remittance fees should be less than 3% by 2030, but data from the World Bank suggests that at present the global average is twice this target, with the figure as high as 20% in some pa...

11Jun

By Africa BusinessNo Comments

Business, Ghana News

Game Changers: How Athletes’ Sports Skills Can Help Promote Economic Development in Ghana’s Oil Industry

By David Lavallee and Ruth Lavallee The Ghanaian oil sector stands on the cusp of an unprecedented skills crisis and there is an urgent need to find innovative solutions. The significance of human capital is escalating and will eventually surpass financial capital in terms of economic drivers within the oil industry [1]. Sustainable growth depends on Ghana’s workers having the competencies that employers need in an increasingly skills-driven economy. There is, however, significant skills gap in the industry and the shortage of skilled workers will only become greater in the coming decade [2]. Identifying untapped skills within the existing workforce could be one way to help address these issues in the oil sector. Workers who previously competed in sports to an elite level could be a re...

11Jun

By Africa BusinessNo Comments

Startups, Zimbabwe News

Women’s Co-op in Zimbabwe Launches Chaya Kickstarter Campaign with MATTER to Produce Plant Protein Products

Minnesota-based global NGO MATTER, on June 4, launched a Chaya Kickstarter Campaign, aiming to raise $50,000 to fund the first line of marketable Chaya products. This initiative will enable women in thriving Chaya farming cooperatives in Zimbabwe to turn surplus harvests into sustainable income. Chaya, a nutrient-dense vegetable, already improving the nutrition and health of communities in Zimbabwe, is now poised to improve the economic health of countless families across the country. Through the newly opened Chidobe Chaya Processing Center in Victoria Falls, women in the farming co-ops will be able to sell their Chaya to be dried and processed into marketable products within Zimbabwe and beyond. Initial product development will include freeze-dried Chaya leaves for use with meals, as we...

How Air France is using Artificial Intelligence (AI) to optimise its business activities and improve the customer experience

4Jun

By Africa BusinessNo Comments

Tech

How Air France is using Artificial Intelligence (AI) to optimise its business activities and improve the customer experience

With 100,000 customers carried every day on board more than 1,000 flights, Air France’s activity generates a considerable volume of data. Making optimum use of this resource to constantly improve performance is therefore a strategic challenge for the airline, combined with an absolute priority, which is to protect the company and its customers’ data. This is not a new topic. In 1958, Air France set up an operational research department, in charge of promoting and structuring innovation within the company. The aim was to adapt it to the technological developments of a constantly evolving industry. This stream of information or “data” was rapidly identified as a valuable asset, enabling us to better understand customer behaviour. This groundwork notably led to the expansion of revenue man...

4Jun

By Africa BusinessNo Comments

Tech

AI’s double-edged sword requires a human security approach

Artificial Intelligence (AI) has ushered in both promise and peril for organisations needing to combat cyber threat actors. As ESET Southern Africa Chief Technology Officer, Adrian Stanford, notes, “AI is reshaping the battlefield between cyber attackers and defenders, offering new tools to both sides.” The double-edged generative AI (gen AI) sword can be used by malicious actors to craft sophisticated phishing emails, spam, and disinformation campaigns, amplifying the scale and effectiveness of cyberattacks. However, defenders can also harness AI for threat intelligence research, improved threat detection capabilities, and streamlined incident response. It's a battle of wits and algorithms, where innovation is the currency. AI cybersecurity is surging According to the World Economic Fo...