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Commitment to sustainability opening doors to post-pandemic capital in Africa

8Nov

By Wildu du PlessisNo Comments

Commitment to sustainability opening doors to post-pandemic capital in Africa

By Wildu du Plessis, Head of Africa, Baker McKenzie The industrials, manufacturing and transport (IMT) sector is being hit hard by COVID-19 disruption, but commitment to sustainability could very well lead the sector to recovery. This is according to Baker McKenzie’s report "Sustainable Success: Exploring environmental, social and governance priorities for industrials through COVID-19 and beyond" which revealed that industrials have taken great leaps forward in relation to environmental, social and governance matters (ESG) in the past decade. The report outlines how CEOs in the sector have signed up to a new holistic definition of company purpose and most public companies now report on ESG goals. Access to funding is also becoming intricately linked to a commitment to ESG principles, with...

24Oct

By Richard LiNo Comments

Main

Will a future Biden Presidency be better than Trump for Africa?

As America is voting for its next President, all African countries are contemplating their future engagement with either incumbent President Donald Trump or an incoming new President Joseph (Joe) Biden. Indeed, whoever gets in the White House this coming November 4th will re-define America's relationship with Africa. Contrary to his immediate predecessors, over the last four years, President Trump has not set foot once in Africa. In addition, he not only made derogatory comments about African countries, but he also took actions to cut aid to African countries as well as prevent African nationals from coming to America. Despite all these, President Trump still enjoys a relatively positive image in Africa with an average approval rating of 52% among Africans, much higher than the global aver...

21Oct

By Veselina DzhingarovaNo Comments

Main

N’Gunu Tiny on Why social innovation in Africa is so important

N’Gunu Tiny, Founder and Executive Chairman of the Emerald Group is an expert in Transformative Technology and Social Innovation. The population of Africa is set to increase to 2.4 billion over the next 30 years. And across a continent that is finding itself after decades of uneven economic growth, there is an urgent need for social innovation. There are persistent and systemic problems across Africa in sectors ranging from healthcare to digitisation and housing to employment. Most African countries are now officially democratic and there has been substantial lessening of cross-border problems. Why social innovation in Africa is more important than ever Life expectancy is rising, more than 70% of children are in formal education and the average economic growth rate pre-pandemic is around 5...

How Fintech can help secure the world from the economic impact of viral pandemics

3Jun

By Mahmood AhmaduNo Comments

Fintech, Interview, Main, Nigeria News

How Fintech can help secure the world from the economic impact of viral pandemics

The coronavirus pandemic continues to turn the world and our lives upside down, with the outbreak forcing governments to put into place measures that reduce the risk of contamination, and focus on pre-emptive processes. The strain on the economy is palpable, and is an impending catastrophe that could exceed the crash of 2008, and the Great Depression a century ago, if left unchecked. Besides asking people to practice social distancing and enforcing lockdowns to avoid the spread of the contagion, governments have another source of contamination they need to worry about: banknotes. The latest Fintech innovations can help mitigate the risk of transmission of the virus, by reducing the need to use physical money. Viruses and pathogens are known to live on surfaces for up to 48 hours. Some res...

It’s Time For Africa To Invest In Education, Science And Technology

21May

By Mr. Bernard AnnanNo Comments

Kenya News, Main, Science, Senegal News, South Africa News, Tech

It’s Time For Africa To Invest In Education, Science And Technology

Africa produces just 1.1% of global scientific knowledge. There are 79 scientists per million Africans. According to the UNESCO Institute of Statistics (UIS) estimate for 2019 Africa’s funding for Research and Development is 0.4% of the continents GDP which is far below the global average of 1.7% and the lowest in the world. In 2006, the African Union Executive Council established a target for all member states to invest 1% of GDP in Research and Development. Data from the UIS shows that only South Africa, Kenya, and Senegal are close to meeting that target with about 0.8% of GDP dedicated to Research and Development. Africa will continue to be held back in development if we do not immediately invest in Research and Development. Science has the solution for most Africa challenges but we ar...

Telemedicine in Africa as a concrete way to solve some problems

21May

By VGNo Comments

Main, Medicine, Science, South Africa News, Startups

Telemedicine in Africa as a concrete way to solve some problems

Tools for innovation: mobile applications, medical specialized websites for medical personnel, scientists, and for educating people in the field of medicine, crowdfunding fundraising campaigns, mobile medical cars and other innovations The use of telemedicine can greatly help in solving the problems of medicine in African countries. The creation of special telemedicine websites within a specific country and a single telemedicine portal on the African continent will help the development of medicine and the solution of problems in this area. Thanks to this, an exchange of experience will be carried out between doctors, scientists both in a particular country and throughout the African continent. Joint remote conferences will create a plan for the development of medicine based on a real under...

The Impact of COVID-19 on China’s Belt and Road Initiatives in Africa

7Apr

By Africa BusinessNo Comments

Main

The Impact of COVID-19 on China’s Belt and Road Initiatives in Africa

A new report by Economist Corporate Network, supported by Baker McKenzie and Silk Road Associates, BRI Beyond 2020 (report), shows that the ripple effects of COVID-19 are affecting the nature, pace and scope of China’s Belt and Road Initiative (BRI) activity in Africa, mostly for the short term. The report also explains how the virus has led to an increased interest in digital programmes in BRI countries, as well as a heightened focus on sustainability, including workforce health. The BRI is China’s multi-billion dollar plan to link Asia, Europe and Africa. “The COVID-19 epidemic definitely has a dampening effect on BRI activities as Chinese companies focus their resources and efforts on dealing with the various types of impact caused by such epidemic. However, this effect will likely be r...

Has the PE industry failed Sub-Saharan Africa?

10Mar

By Abhishek MittalNo Comments

African News, Kenya News, Main, South Africa News

Has the PE industry failed Sub-Saharan Africa?

African PE (Private equity) firms raised less than $20bn in the decade to 2018, equivalent to just 2.5 per cent of the capital raised by the world’s emerging markets, according to a Preqin report. Moreover, most of that African capital was invested into the relatively advanced economies of South Africa and North Africa, with very little flowing into the rest of the continent. This limited investment into Sub-Saharan Africa (SSA) is explained by investors in PE funds as a result of the low returns from such investments. The PE firms, themselves, acknowledge the limited returns, but claim these markets are still nascent and that returns will rise as these economies evolve. Yet the reality is that it may be the approach being taken by SubSaharan Africa’s PE investors that is causing them such...

The impact of COVID-19 on finance and investment in Africa

10Mar

By Morne van der Merwe and Wildu du PlessisNo Comments

Main, South Africa News

The impact of COVID-19 on finance and investment in Africa

By Morne van der Merwe, Managing Partner, and Wildu du Plessis, Head of Africa, Baker McKenzie Johannesburg The Coronavirus (COVID-19) has resulted in mass production shutdowns and supply chain disruptions due to port closures in China, causing global ripple effects across all economic sectors in a rare “twin supply-demand shock”. With South Africa having just reported its first cases of COVID-19, Africa is beginning to feel its full impact and plans to control and manage the humanitarian challenges of the virus are underway across the continent. Economically, the effects have already been felt - demand for Africa’s raw materials and commodities in China has declined and Africa’s access to industrial components and manufactured goods from the region has been hampered. This is causing furth...

How fintechs are making Africa a leading global Innovation Hub

24Jan

By Josephine WawiraNo Comments

Fintech, Kenya News, Main, Nigeria News, South Africa News

How fintechs are making Africa a leading global Innovation Hub

In a continent where over 60% of the adult population is unbanked and the financial sector is considerably underdeveloped, fintech has been a welcomed revolution that is seen to be boosting Africa’s financial infrastructure. With a growing population, an increasing rate of mobile and internet penetration, combined with a substantial need for financial inclusion, Africa is fecund ground for the growth of fintechs and tech giants. There exist endless possibilities, as entrepreneurs seek to use technological advancements to create a range of more reliable and customer friendly solutions to real-world problems. A sizeable number of fintech startups in the continent are closing existing gaps in various industries including healthcare, agriculture, transportation, e-commerce, and mobile money se...