Main Archives - AfricaBusiness.com

15Oct

By Africa BusinessNo Comments

Energy, Interview, Kenya News, Main

Kenya’s Renewable Energy Development Prospects

Exclusive Interview with Dr. Ajay Mathur, Director General of the International Solar Alliance (ISA), which is one of its one-of-a-kind multilateral organizations established to catalyze global solar growth. Dr. Ajay Mathur reveals the specifics of renewable energy development in Kenya, explains possible prospects, and talks about investment decisions in this area. What investment strategies can Kenya adopt to achieve its ambitious energy goals? Achieving Kenya’s nationally determined contribution (NDC) target of reducing greenhouse gas emissions by 30% by 2030 relative to business-as-usual levels will require a concerted effort to put its energy sector on a low-carbon trajectory, particularly in light of the country’s economic development goal of attaining middle-income status i...

19Sep

By Africa BusinessNo Comments

Business, Main

Op-ed: Why Africa is the Next Big Opportunity Amid Global Slowdown in The Music Industry

By Faisal Kiwewa, Arts Connect Africa (ACA) Board Member and Founder and Director at BAYIMBA Cultural Foundation The global music industry is experiencing a slowdown, with streaming growth decelerating and major players like Apple and Amazon needing help to expand their user bases. Music companies are scrambling to find new revenue streams as the industry enters a slower-growth era. According to a report by Goldman Sachs, global music streaming revenue is expected to grow at a compound annual growth rate (CAGR) of 8% from 2022 to 2030, a slowdown compared to the 18% CAGR from 2017 to 2021. While the West grapples with these challenges, Africa’s music industry is growing into a vibrant, untapped market with immense potential. Africa: A Growing Market with Unique Opportunities Africa's ...

17Sep

By Africa BusinessNo Comments

Africa Travel, Interview, Kenya News, Main, Startups, Zimbabwe News

The Challenges and Prospects of Passport-Free Travel in Africa Using Biometrics

Willys Mac'Olale , Director of Fragomen Kenya An interview with Willys Mac’Olale, Director of Fragomen Kenya, on the innovative opportunities and barriers in using biometrics, particularly facial recognition, for passport-free travel. African countries must make an innovative leap to reach a new level of development that will improve the lives of people in Africa. What are the main drivers behind the shift to passport less travel and facial recognition in countries like the US, UAE and Europe? There are a number of reasons for this adoption including; Enhnaced security – The fact that passport less travel typically relies on biometric data which is more secure and harder to forge than traditional passports reduces the risk of identity theft and fraud. Streamlining Tr...

13Sep

By Africa BusinessNo Comments

Business, Main

Why Africa’s Approach to Financial Risk Management Needs to Change

By Reggie Mlangeni, Head of Sales and Structuring at Absa Corporate and Investment Banking When detached from the intricate realities of Africa’s economic environment, financial risk management strategies that may prove successful elsewhere often falter. For nations grappling with rising levels of sovereign debt, unpredictable regulatory uncertainties, and the far-reaching repercussions of political transitions, traditional frameworks, often borrowed from more stable economies, fail to account for the volatility and complexity inherent in many African markets – necessitating a re-evaluation of how financial risks are quantified and managed on the continent. Recent developments in several countries have been particularly illustrative of this. In Ghana, faced with substantial revenue co...

22Aug

By Africa BusinessNo Comments

Business, Fintech, Main

Tapping into India and Africa’s strengths to drive a financial revolution

Vinesh Kassen, Head of India Client Coverage at Absa CIB, explores how successful digitisation projects have revolutionised the way that India and Africa interact with financial services, and why leveraging both regions’ capabilities will help deepen ties. India and Africa are embarking on a new chapter. The newly appointed high commissioner of South Africa to India, Anil Sooklal, has been flying the flag for the India-Africa relationship on the global stage, commenting in a recent speech that the two regions share a “special relationship that has so much potential at every level”. The connection between the two continents is more than just a bilateral relationship; it is a partnership with the capability to shape the future of global trade. In many ways, Africa and India are like mirror...

19Aug

By Africa BusinessNo Comments

Business, Interview, Kenya News, Main

Problems And Prospects Of Family Businesses: Trusts, ESG, NextGen, And What Is Needed For Success

Interview with Faizal Bhana - Director – Middle East, Africa and India Jersey Finance. Interview with Faizal Bhana, Director, Middle East, Africa and India, Jersey Finance, delves into the evolving landscape of family businesses and how they navigate the diminishing trust advantage amid rising ESG (Environmental, Social, and Governance) demands and NextGen aspirations. How has the use of trusts evolved for family businesses over the past decade? Over the past decade, the use of trusts has evolved significantly for family businesses. Increased regulatory scrutiny and transparency demands have led to more structured governance frameworks and a more planned approach. Families are increasingly using trusts to manage succession, mitigate long-term risks and ensure long-term sustaina...

30Jul

By Africa BusinessNo Comments

African News, Main, Nigeria News

United for Wildlife strengthens fight against the illegal wildlife trade by adding a West Africa Chapter to its global network

United for Wildlife, founded by The Royal Foundation of the Prince and Princess of Wales, convened leading figures from the private, public, and not-for-profit sectors from across West and Central Africa to develop a regional network to combat the illegal wildlife trade in the regions. Lagos, Nigeria: United for Wildlife has established landmark agreements with one of Nigeria’s leading law enforcement agencies as well as the Nigerian Financial Intelligence Unit, as part of the organisation’s work to build a regional network to combat the illegal wildlife trade in West Africa. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and United for Wildlife are committing to work together on a number of fronts; developing training and education in the region in relati...

12Jul

By Africa BusinessNo Comments

Kenya News, Main

Navigating Flood Risks, Adaptation Strategies, and the Role of Climate Finance in Building Resilience

By Sarah Njoroge, Principal, Intellecap Advisory Services In recent times, the frequency and intensity of extreme weather events have escalated, posing significant challenges across the globe. In many regions, relentless rains have led to catastrophic flooding, disrupting lives and livelihoods. This indiscriminate nature’s fury always hit vulnerable communities hardest—particularly the urban poor and low-income groups who lack the resources to withstand or recover from these disasters. Women, children, the elderly, and people with disabilities are disproportionately affected, facing greater difficulties in responding to and recovering from such calamities. After the floodwaters recede, these communities face yet another challenge: the onset of the dry season. Areas now submerged under f...

25Jun

By Africa BusinessNo Comments

Business, Main, Medicine

Africa needs to increase vaccine production 73-fold to reach its vaccine sovereignty target

Analysis from The ONE Campaign finds that just 1.1% of Africa’s vaccine supply actually comes from Africa, with Asia providing over half and Europe over one-third of Africa’s vaccine supply. The African Union and Africa CDC proposed an ambitious target to manufacture 60% of Africa’s immunization needs on the continent by 2040. Our new analysis tracks progress toward this goal, identifies the challenges and offers a 6-point plan for accelerating vaccine sovereignty in Africa. Key figures: 98.9% of Africa’s vaccine supply is produced outside the continent, leaving Africa vulnerable to supply chain disruptions and vaccine inequality. In 2021, African leaders prioritized vaccine sovereignty, setting a target to produce 60% of Africa’s vaccines by 2040 in Africa. To meet...

3Jun

By Africa BusinessNo Comments

Business, Energy, Main

Resolving infrastructure and energy disputes in sub-Saharan Africa

By Mouhamed Kebe, Court Member of the ICC International Court of Arbitration. Managing Partner of Geni & Kebe Africa has the world’s lowest use per capita of modern energy. As its population and incomes grow, demand for modern energy continues to expand. Africa is a continent with huge reserves of oil and gas, with a large capacity for green energy, but more than 600 million people do not have access to electricity. The need for infrastructure buildings and projects are higher than in any other region in the world, and therefore the energy and infrastructure sectors are of paramount importance given their key role for economic and social growth. Another key factor for the continent is the global energy transition. According to the African Development Bank, the continent needs to alloc...