Africa Business, Author at AfricaBusiness.com

18Apr

By Africa BusinessNo Comments

Agriculture, Kenya News

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

Research reveals an urgent need for digital “accidental marketplaces” to evolve into safer and more inclusive environments. Leading research and advisory firm, Caribou Digital, proudly announces the release of its latest publication, The Platform Livelihoods Project, a pioneering collection of studies on pervasive digital marketplaces, some conducted in partnership with the Mastercard Foundation and others with the support of the Bill & Melinda Gates Foundation. The study examines the sprawling digital economy and highlights the urgent need for a safer, more inclusive environment. It advocates for policymakers, companies, and other players in the ecosystem to leverage the study to drive investment into the future of the digital workplace, essential for the millions dependent on it for...

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

17Apr

By Africa BusinessNo Comments

Africa Travel

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. The increase of 50% of its operating margin, close to 10%, and its record net profit, demonstrates the success of Club Med's new business model, whose transformation started in 2004. “2024 marks the successful finalisation of the move upmarket of our resort portfolio. In its 74-year history, Club Med has never had such a desirable portfolio of Resorts, either new, recent, or renovated. With a new strong increase in bookings for first half 2024, Club Med is well on track to become a French world champion and the most desirable lifestyle tourism brand, offering a life changing experience to i...

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

17Apr

By Africa BusinessNo Comments

Tech

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

Written by Divij Ruparelia, COO at DAI Magister 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. The Rise of Internet Users and Cloud Adoption There has been a significant surge in internet usage across Africa, with the number of users soaring to approximately 645 million in 2023, representing a remarkable 3.5-fold increase c...

17Apr

By Africa BusinessNo Comments

Fintech

Why do you need a crypto license in Poland? What is needed to obtain such a license?

What Are the Legal Requirements for Operating a Cryptocurrency Business in Poland, And Why Is a Crypto License Essential for Compliance? In Poland, the Chamber of Tax Administration regulates the regulations that any crypto businesses must follow. Companies in Poland are required by law to register with the Polish company registry via the portal for public administration services or other means. You need to fulfill the eligibility requirements and submit the required documentation within 14 business days to complete the registration procedure. There is a potential punishment of roughly €22,000 for not obtaining the license by still carrying out crypto activities. Registration is required for crypto-to-fiat and crypto-to-crypto exchanges, wallet services, brokerage services, among many ot...

3Apr

By Africa BusinessNo Comments

Business, Mauritius News

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. Fund V continues Adenia’s long-term investment strategy of making control investments in medium-sized companies across Africa with proven business models that demonstrate ample room for operational and ESG improvements. The Fund is sector-agnostic with financial services, agribusiness, renewable energy, consumer goods, telecommunications, healthcare and education, business services, light manufacturing, and specialty distribution as areas of particular focus....

3Apr

By Africa BusinessNo Comments

Business

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. AI bias, also referred to as machine learning bias or algorithm bias, refers to AI systems that produce biased results that reflect and perpetuate human biases within a society, including historical and current social inequality. “Artificial intelligence can transform our lives for the better. But AI systems are only a...

Empowering African Environmental Science: The Jennifer Ward Oppenheimer (JWO) Research Grant Seeks Another Trailblazing Recipient

3Apr

By Africa BusinessNo Comments

African News, Events, Science

Empowering African Environmental Science: The Jennifer Ward Oppenheimer (JWO) Research Grant Seeks Another Trailblazing Recipient

Historically, Africa has been underrepresented in global research and development endeavours, with limited resources allocated to research initiatives compared to other regions. However, there is growing recognition of the immense potential for innovation and scientific advancement within Africa's diverse landscapes and communities. Subsequently, this is why research grants such as the Jennifer Ward Oppenheimer Research Grant, now in its sixth year, are impactful. The Jennifer Ward Oppenheimer Research Grant (JWO Grant) was established in 2019 to honour the legacy of the late. Jennifer Ward Oppenheimer, a distinguished pioneer in African education and environmental science. The JWO Research Grant has been instrumental in advancing vital research initiatives across the continent. As it app...

29Mar

By Africa BusinessNo Comments

Main, South Africa News

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

By Gary Silbermann, Co-Founder and Innovation Director at One Degree Workers had barely adapted to a remote and hybrid workplace before businesses demanded more time in the office without exception. Tech big hitters such as Dell and Tata Consultancy Services have warned workers to return or face consequences. Remote working advocate Zoom has demanded that all those who live within 80km of the office need to work in-person twice a week. The reasons put forward by businesses who want employees in the office may vary but there are common themes, such as lower productivity and a struggling or absent company culture. While these concerns are valid and most certainly the lived experiences of C-suites trying to drive the bottom line, as the workforce demographics shift to younger generations it...

Mobilizing Blended Finance for Climate Investments in Kenya

29Mar

By Africa BusinessNo Comments

Kenya News

Mobilizing Blended Finance for Climate Investments in Kenya

By Utsav Mulay, Climate Finance, ESG and Carbon Markets Expert at Intellecap Kenya faces the formidable challenge of aligning its climate action with its development goals. The heart of this challenge lies in the financial mobilization required to transform these ambitions into tangible outcomes. According to the insightful "Landscape of Climate Finance in Kenya" report by the Climate Policy Initiative (CPI) in March 2021, a staggering $40 billion is required to meet Kenya's mitigation and adaptation needs by 2030 under its Nationally Determined Contribution (NDC) to the Paris Agreement. Kenya's Climate finance needs span energy, agriculture, water, and forestry. In energy, Kenya aims to transition to renewable energy sources, such as wind, solar, and geothermal, to not only reduce its ...

29Mar

By Africa BusinessNo Comments

Business

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

By Michael Foundethakis, Partner, and Global Head of Project and Trade & Export Finance, Baker McKenzie Paris and Virusha Subban, Partner specialising in Customs and Trade, and Head of Tax, Baker McKenzie Johannesburg 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. Since the start of trade under AfCFTA in 2021, African countries have been implementing changes to diversify their economies, increase production capacity, and widen the range of products made in Africa. To be able to do so effectively, they must attract sustainable funding and investment. Several countries are now trading under the continenta...