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NEWS

News on Investments in Africa

Jan 13, 2021 |

Foreign Direct Investment (FDI) flows in Africa dropped by 28% over the first 6 months of 2020, according to an UNCTAD report (October 27). The situation is mainly due to the COVID pandemic which disrupted the global economic activity. A study quoted by UNCTAD by Daily Trust shows that between Jan and June 2020, FDI…

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Africa’s Telecoms

Jan 13, 2021 |

e-Conomy Africa 2020, a new report released in November by Google and the International Finance Corporation (IFC), estimates that Africa’s Internet economy has the potential to benefit 5.2% of the continent’s gross domestic product (GDP) by 2025, contributing nearly $180 billion (R2.8 trillion) to its economy. The report also suggests that every reduction in the digital divide (that is –…

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Fintech Advances Under COVID – Moving Towards a Cashless Society.

Jan 13, 2021 |

COVID has stimulated major moves forward in Fintech throughout the continent. In November, I was a panelist at the African Fintech Summit on the Ecommerce panel (video clip HERE ). The father of mobile money, M-Pesa is planning a consumer “lifestyle” offering as it seeks to deepen clients’ use of its mobile-money application. The offer, planned within the next 12…

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The Launch of the New West African Currency Delayed

Jan 13, 2021 |

We reported early last year on the plan to launch a new currency to replace the CFA franc used by several countries in West Africa. This now may not happen for at least 5 years due to the financial crisis caused by COVID. Nations in the West African bloc have agreed to work towards reducing their budget deficits to below 3% of…

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International Business Supports the AfCFTA with Robust Initiatives

Jan 13, 2021 |

The International Chamber of Commerce (ICC) has launched an Africa Trade initiative. The Ecommerce Forum Africa (EFA) is involved in this initiative and has been invited to sit on the ICC Africa Committee. The ICC has announced a cooperation with COMESA, the African regional economic community predominately for East Africa, and a second project with…

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