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.
Tag Archives: africa
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.
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.
As Africa’s travel and tourism industry surges, fueled by a growing middle class and a projected CAGR of 8.9% or $731.4 billion by 2032 in the “bleisure” market, the demand for innovative hospitality solutions is booming.
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.
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.
According to the World Health Organization, the sale of counterfeit medication is the world’s most lucrative illicit trade. Sadly, Africa has become home to an estimated 42% of the world’s cases of trade in counterfeit medications, disproportionately affecting the most vulnerable and desperate of populations living in low- or middle-income countries.
In a guest article, Adam Aziz, Analyst at DAI Magister, discusses the travel tech innovations that can fuel the growth of tourism on the African continent, including the growth of OTAs, curated trips and GenAI deployment.
In the ever-evolving landscape of marketing, staying attuned to the preferences and behaviours of different demographic groups is crucial for success.
SA Innovation Summit CEO Buntu Majaja looks back at this year’s successes and quantifies next year’s opportunities.
Mergers & Acquisitions (M&A) has long been a vital part of the global financial ecosystem, with the first deal dating back to the 1870s. Until recently Africa hasn’t developed enough companies of scale for successful M&A to drive highly profitable exits, with M&A on the continent accounting for only 2% of global deal value.
While financial inclusion is growing in importance worldwide there is still a discrepancy between male and female financial inclusion – the so-called gender financial inclusion gap.
By Cheikh Mbacké Sene Expert in economic intelligence and sensitive communication – Economic analyst Russia is seeking to escape international isolation following its invasion of Ukraine and is turning to an Africa that is increasingly inclined towards cooperation alternatives. That’s good, each party seems to have to offer what the other is looking for. But […]
Africa’s Increasing Role in the Business World: How it Happened
There’s no doubt that Intellectual Property (IP) is a key driver in the promotion and creation of innovation, economic growth and, some might argue, a ‘better world’.
Events, Fintech, Zambia News
Applications now open for Africa Fintech Summit’s 6th AlphaExpo Micro-Accelerator Cohort
The Africa Fintech Summit, the largest bi-annual fintech event in Africa, announces the application for its 6th AlphaExpo Micro-Accelerator cohort.
Medicine, Tech
First integrated drone delivery solution for laboratory samples and medical supplies in Africa
Siemens Healthineers to collaborate with German drone manufacturer and service provider Wingcopter to pilot an integrated drone delivery solution for healthcare facilities throughout Africa
Adrian Pillay, VP of Middle East & Africa at Provenir Fintech in Africa is coming into its own. According to KPMG data, there was a record $1.6 billion in fintech investment across the continent in 2021, across 153 deals, and at two times the value of 2020, which hit US$800M. From East to West and […]
ImaliPay, a leading fintech-as-a-service provider, has signed a major deal with 3rd Party e-commerce fulfillment solution Renda (1st March 2023). The partnership will support businesses across Africa by simplifying and streamlining the process of order fulfillment for Enterprise and Medium-sized businesses across Africa, starting with Nigeria. The two companies will provide key services to ambitious businesses, making it easier […]
African News, Events, Interview
MENA region is fastest growth area globally for arbitration as better way to solve business disputes
As the International Chamber of Commerce’s Court of Arbitration celebrates its 100th anniversary, President Claudia Salomon tells Africa Business how this global organisation has seen its highest growth in recent years in the MENA region. In the last 10 years, the number of parties coming to the ICC Court has tripled, with parties from the […]
Startups
eWAKA Secures a 500 000 CHF Loan from Swiss State Secretariat for Economic Affairs (SECO) Start-up Fund
eWAKA (https://eWAKA.tech/), one of Africa’s most promising sustainable mobility startups, has received strategic support from the State Secretariat for Economic Affairs (SECO) Start-up Fund of the Swiss Confederation. SECO Start-up Fund has offered a 500,000 CHF loan that will support eWAKA’s 2023 plans to accelerate a growth strategy focused on providing innovative and sustainable mobility […]
African News, Main
Africa’s economic growth to outpace global forecast in 2023-2024 – African Development Bank Biannual Report
Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023 and 2024. This is higher than projected global averages of 2.7% and 3.2%, the African Development Bank Group said in Africa’s Macroeconomic Performance and Outlook (http://bit.ly/3iLJF4C) […]