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Africa Fintech Summit

Bird Story Agency

Ajim Capital

The southern African nation is adopting the wireless internet  WiFi standard to boost its economy beyond mining and agriculture. Zambia is aiming for speed as it adopts a faster WiFi 6 as part of a push to recalibrate its internet offering and lay the groundwork to power its fledgling internet economy.

Seth Onyango, bird story agency&nbsp;
 
Zambia is aiming for speed as it adopts a faster WiFi 6 as part of a push to recalibrate its internet offering and lay the groundwork to power its fledgling internet economy.
 
The move comes amidst a series of economic and political reforms, signalling the country's ambition to reinvent itself as a modern and digitally advanced African nation, following a landmark general election in 2021.
 
The push towards advanced digital connectivity is also part of Zambia's broader strategy to encourage foreign investment, boost its startup ecosystem, and improve public services.&nbsp;
 
According to a budget plan presented by the Ministry of Finance on Sunday (August 10), Zambia's economy is projected to grow by just 2.7% in 2023, down from 4.7% in 2022, as contractions in the mining and energy sectors restrain growth. This makes growing new sectors of the economy even more important.
 
WiFi 6 is the latest wireless internet (WiFi) standard, offering faster speeds, increased efficiency, and lower latency. It is particularly good at ensuring high-speed connections when multiple devices are connected to a network.
 
Experts suggest that its early adoption could yield significant economic benefits for the nation. The superior speeds and capacity of WiFi 6 are expected to bolster the country's digital infrastructure, thereby attracting international tech investments and spurring local innovations.
 
"We are excited to introduce our Wi-Fi 6 and Edge solutions to the African market," said Glad Dibetso, Group CEO at inq.&nbsp;
 
"These advanced solutions exemplify our commitment to delivering the best-in-class technology that transforms the way people connect, communicate, and conduct business."
 
&nbsp;Rollout of the new technology is expected to begin in urban centres such as Lusaka, Ndola, and Livingstone, before extending to rural areas.&nbsp;
 
Challenges remain, however, including the need for extensive infrastructure upgrades and ensuring affordability for all citizens.
 
Zambia is not the only African country that is exploring the potential of Wi-Fi 6 technology.
 
Already, several African states have made strides in the digital realm, with countries like Kenya, South Africa, and Rwanda setting benchmarks in terms of technological advancement.&nbsp;
 
South Africa, Kenya, Nigeria, and Ghana have also shown interest in deploying Wi-Fi 6 networks to improve their digital infrastructure and connectivity.&nbsp;
 
Last year, the Kenyan government designated the lower 6 GHz radio spectrum (5925 – 6425 MHz) for unlicensed Wi-Fi usage, in line with the African Telecommunications Union's directive from July 202.
 
This strategic decision, as highlighted by DSA in their recent announcement, positions Kenya advantageously in the region and paves the way for the integration of next-gen Wi-Fi 6 and 6E technologies.
 
bird story agency&nbsp;

Zambia taps next-gen WiFI 6 to boost its digital economy 🇿🇲

TechCabal

M-KOPA, a Kenyan fintech giant known for financing solar systems and smartphones, has appointed former Nokia CEO Rajeev Suri as its new board chair. As the company gears up for rapid expansion, Suri's leadership is set to guide M-KOPA into a new era of growth and innovation. With over 5 million users across Africa, M-KOPA is reshaping digital and financial inclusion.

🚀 M-KOPA, a fintech startup providing solar systems and smartphones on affordable payment plans, has appointed Rajeev Suri, former CEO of Nokia, as its new board chairman. Suri will take over from Elizabeth Littlefield on December 1, 2024. His extensive experience in leading global companies like Nokia and Inmarsat positions him to guide M-KOPA through its next growth phase.
 
💡 M-KOPA has been a game changer in digital and financial inclusion, leveraging cutting-edge AI technologies to serve over 5 million users in Kenya, Uganda, Ghana, Nigeria, and South Africa. As competition heats up with new entrants like D.Light, Sun King, and Aspira, Suri's appointment comes at a pivotal moment.
 
📊 M-KOPA raised $255 million in 2023 and has disbursed over $1.5 billion in credit to its users. However, the company faces challenges, including back taxes following a ruling by a Kenyan tax tribunal. Despite this, M-KOPA continues to lead in the PAYGO sector.
 
Key Highlights:
<ul>
 <li>Rajeev Suri to lead M-KOPA as board chairman starting December 2024.</li>
 <li>M-KOPA has served over 5 million users across 5 African countries.</li>
 <li>Raised $590 million in venture funding, including $255 million in 2023.</li>
 <li>Suri’s appointment comes at a time of intense competition in the PAYGO market.</li>
</ul>
✨ M-KOPA’s innovative approach and strong leadership signal a bright future for the company and its mission to empower consumers across Africa.
 
 
 
Read more on <a href="https://techcabal.com/2024/10/14/m-kopa-nokia-ceo-board-chair/">TechCabal</a>

M-KOPA Appoints Former Nokia CEO Rajeev Suri as New Board Chairman, Driving Fintech Growth

TechCrunch

🌍 From humble beginnings in Africa, InstaDeep has grown into a global AI powerhouse. In just over a year under BioNTech’s umbrella, the startup continues to drive innovation in biotech and beyond. CEO Karim Beguir reveals how InstaDeep’s cutting-edge AI is revolutionizing healthcare and industrial optimization alike.

InstaDeep's AI Revolution: Scaling Global Innovation 🚀
InstaDeep, Africa's largest AI startup, was acquired by BioNTech for $550M in 2023. Under BioNTech’s wing, the Tunis-born startup has achieved significant progress in AI-driven biotech applications, including AI models that accelerate tissue analysis by 5x and support cutting-edge cancer research. Their DeepChain platform, focusing on protein design, plays a key role in fighting diseases like cancer.
 
 
Key Highlights:
<ul>
 <li>📊 BioNTech acquisition enhances InstaDeep’s biotech focus, accelerating drug development using AI.</li>
 <li>InstaDeep maintains independence, still collaborating with non-biotech sectors such as industrial optimization.</li>
 <li>🦗 A key AI project: predicting locust outbreaks in Africa with NASA-backed geospatial data, helping protect food security.</li>
</ul>
 
 
CEO Karim Beguir believes InstaDeep’s AI innovations in biotech are at a pivotal stage—similar to GPT-3’s debut in 2020, opening up endless possibilities for the future of healthcare and industrial optimization.
"AI is now a game changer in biology—just like GPT was for NLP," says Beguir.
 
 
Read more on <a href="https://techcrunch.com/2024/10/12/where-we-are-today-in-biology-ai-is-similar-to-gpt-in-2020-an-interview-with-the-ceo-of-africas-biggest-ai-startup/">TechCrunch</a>

InstaDeep's AI Journey: From Africa to Global Biotech Innovator

Kenya is set to revolutionize its financial landscape with the introduction of a new Fast Payment System (FPS). This cutting-edge platform will ensure seamless transactions between banks and fintechs, eliminating existing barriers. The FPS promises to enhance accessibility, making financial services more convenient for all Kenyans.

<h3>The Central Bank of Kenya (CBK) is spearheading a transformative project to introduce a Fast Payment System (FPS), aimed at enabling instant transactions across all banks and fintechs. This system will solve long-standing interoperability issues, allowing Kenyans to pay bills, send money, and make other transactions effortlessly, regardless of their financial service provider.</h3>
<h3> </h3>
<ul>
 <li>Interoperability Issue: FPS will address the challenges that have prevented smooth communication between different payment systems, unlike current solutions like Pesalink, which is limited and lacks utility payments capabilities.</li>
 <li>Collaborative Effort: Since February 2024, CBK has worked with industry players through a CBK-Industry Technical Working Group to develop this new system.</li>
 <li>Key Benefits: FPS will promote faster payments, wider accessibility, and reduce the reliance on fragmented and costly systems. It will lay the foundation for an open and fully interoperable Digital Public Infrastructure (DPI).</li>
</ul>
 
By fostering faster financial services, FPS is expected to boost economic activity and expand access to essential services across Kenya 🚀.
 
 
 
Read more on <a href="https://techcabal.com/2024/10/18/kenyas-central-bank-plans-instant-payment-system/">TechCabal</a>

Kenya's Central Bank to Launch Instant Payment System for Banks and Fintechs 🇰🇪

Stanbic Bank Kenya has completed a major upgrade of its core banking software, aiming for enhanced security and improved user experience. Despite brief service disruptions, the bank’s transition to the latest technology signals a drive for modernized banking in a competitive market.

Stanbic Bank Kenya, the sixth-largest bank in Kenya, has successfully completed an upgrade to its core banking software, Temenos T24 R23, in partnership with Orion Innovation. This upgrade—one of the most significant in recent years—introduces advanced security features and improved performance across Stanbic's digital platforms.
 
<ul>
 <li>Customer Impact: Over 266,000 customers experienced some service disruptions from October 19-21. Though some users reported limited access after the upgrade, Stanbic reassured customers that it is monitoring system performance to maintain optimal functionality.</li>
 <li>Tech-Driven Growth: This move aligns with a trend among Kenyan banks investing in advanced tech, especially as competition for skilled IT talent intensifies. Stanbic joins global banks using the advanced R23 version, further positioning itself as a leader in digital transformation in Kenya’s banking sector.</li>
 <li>Cost and Efficiency: While some banks opt to build in-house core banking systems for greater customization, others, like Stanbic, partner with external providers for expertise and cost efficiency. However, managing complex integrations across old systems remains a challenge for many institutions.</li>
</ul>
 
As Kenya’s banks embrace digital innovation, Stanbic’s upgrade is a signal of the sector’s shift toward secure and seamless banking, supported by both internal growth and external partnerships.
 
🔹 Temenos T24 R23 - Latest Core Banking Tech 
🔹 Focus - Enhanced Security, Efficiency 
🔹 Trend - Rising demand for tech talent across banks
 
Read more on <a href="https://techcabal.com/2024/10/25/stanbic-bank-kenya-finalises-core-banking-upgrade/">TechCabal</a>

Stanbic Bank Kenya Completes Core Banking Software Upgrade Amid System Glitch Resolution

Disrupt-Africa

Nigerian fintech leader Moniepoint has secured $110 million in Series C funding to supercharge its digital banking platform for businesses across Africa. With a track record of innovation and impact, Moniepoint is poised to transform financial access on the continent, bringing seamless banking, payments, and credit services to millions.

Moniepoint, founded in 2015 as TeamApt, is Nigeria's top merchant acquirer, processing $17 billion monthly and supporting over 10 million businesses and individuals. Recently, the company secured $110 million in Series C funding, led by Development Partners International, alongside new investors such as Google’s Africa Investment Fund and Verod Capital. With this new capital, Moniepoint plans to scale its all-in-one financial ecosystem across Africa, offering services like digital payments, banking, FX, credit, and business management tools.
 
Highlights:
<ul>
 <li>Key Investors: Development Partners International, Google’s Africa Investment Fund, Verod Capital, and Lightrock (existing investor).</li>
 <li>Platform Vision: A comprehensive suite for African businesses with seamless banking, payment solutions, and support tools.</li>
 <li>Financial Impact: Moniepoint’s rapid growth supports financial inclusion across underserved communities and enables businesses to grow with reliable banking solutions.</li>
</ul>
 
CEO Tosin Eniolorunda emphasized Moniepoint’s mission to innovate and drive financial inclusion across Africa, delivering solutions that make a difference for the continent’s entrepreneurial potential.
 
 
Read more on <a href="https://disruptafrica.com/2024/10/29/nigerias-moniepoint-raises-110m-series-c-to-scale-digital-banking-across-africa/">Disrupt-Africa</a>

Moniepoint Raises $110M to Expand Digital Banking Across Africa 🌍💸

🌍 Access Bank secures the green light to acquire Kenya's National Bank, expanding its reach across East Africa’s largest economy. With an estimated $100 million deal, Access Bank will increase its footprint to 77 branches across 28 counties. Here’s what this move means for Kenya’s banking sector! 💸

Access Bank has received approval from the Competition Authority of Kenya (CAK) to acquire the National Bank of Kenya (NBK) from KCB Group, contingent upon retaining 80% of NBK’s workforce for a year post-acquisition. The deal, valued around $100 million, now awaits the Central Bank of Kenya's (CBK) approval to proceed.
<h3> </h3>
<h3>Key Points:</h3>
<ul>
 <li>Expanded Reach: Access Bank’s acquisition of NBK will grow its presence from 23 branches in 12 counties to 77 branches in 28 counties, significantly enhancing its reach in Kenya.</li>
 <li>Market Share: The combined Access Bank-NBK entity will hold a 1.9% market share, a figure CAK indicates won't disrupt competitive dynamics in the Kenyan banking sector.</li>
 <li>Deal Valuation: The transaction is estimated to be around $100 million, pegged at 1.25x NBK’s book value of $79.77 million in 2023.</li>
 <li>Timeline: The acquisition is anticipated to close by November, pending final regulatory approval.</li>
</ul>
 
Access Bank’s move positions it as a stronger player in Kenya’s tier 2 banking sector, giving it an edge in a highly competitive market. The expansion reinforces its strategy to tap into East Africa's economic potential while addressing diverse banking needs, from retail to corporate and Islamic banking.
 
 
Read more on <a href="https://techcabal.com/2024/10/30/access-national-bank/">TechCabal</a>

Access Bank Gains Approval to Acquire National Bank of Kenya for an Estimated $100 Million

Africa's Gen Zs,  promised opportunity, innovation and new technology but faced with the very real world of a workplace in flux, constrained labour markets, high inflation and increasing criticism of their work ethic, are finding very little to cheer about. So a growing number of African universities are stepping in, hoping to bridge the gap between academic qualifications and real-world demands.

Conrad Onyango, bird story agency
 
Worldwide, Generation Z is facing tough times, with global economic shifts, environmental issues, worrying "hot" conflicts that are increasingly global in nature, and a job market that is less beneficial to generational wealth creation than any since World War 2.&nbsp;
 
At the same, time, this generation - born between 1997 and 2010 - is considered by nearly three-quarters of managers to be the most challenging workforce to work with.
 
According to a 2023 survey by Resume Builder, managers say Gen-Z workers feel entitled and demonstrate a lack of effort, motivation and productivity.
 
On the other hand, Gen Z workers blame business leaders and educators for a lack of understanding of the digital natives and their potential to re-write the rules of traditional corporate dynamics.&nbsp;
 
With this generation expected to comprise more than a quarter of the global workforce in 2025, recruiters, learning institutions and Gen Z's themselves, are having sleepless nights.
 
The fear and anxiety looms even larger in Africa, the continent with the youngest population in the world.
 
But there is a glimmer of hope.
 
Africa's institutions of higher learning are starting to introduce programs, organising networking events and forums to discuss and prepare this large pool of future workers in a quest to bridge the gap between university qualifications and the demands of the labour market.
 
The University of the Witwatersrand (Wits), Johannesburg, is the latest to launch a student-driven initiative, the&nbsp;WorkReady Gen Z&nbsp;programme, a three-month online course designed to equip University students with essential work-readiness skills.
 
“WorkReady Gen Z&nbsp;was built to empower students not just for their first jobs but for long-term success in their careers. It’s designed to help them navigate the workplace and grow into future leaders and entrepreneurs,” says Lindelwe Cili, Career Services Team Leader at Wits.
 
The collaborative effort of the Wits Student Representative Council (SRC) &nbsp;with the Wits Counselling and Careers Development Unit (CCDU) offers insights on job hunting strategies, smooth transition in their first jobs and bolsters their skills building capacities using real-time case studies.
 
The program covers topics like job roles, imposter syndrome, and workplace biases to bolster the confidence of Gen Z’s &nbsp;in their first jobs. It also exposes them to interactive case studies and thought-provoking activities where students develop critical skills such as problem-solving, communication, time management, and professionalism.
 
Strathmore University Business School in Nairobi, this year themed its Annual HR Summit "Future-ready HR: Navigating Trends, Transforming Workplaces,"&nbsp;
 
Whlie representatives from academia and industry emphasized the need for further efforts to address the work readiness gap in Africa, Ceasar Mwangi, Strathmore's Executive Dean, asked attendees to think of the continent's youth challenge differently and to change the narrative when considering education.
 
“Perhaps the best way to address the needs: 'A rich continent with high levels of poverty with difficulties and challenges is addressing the issue of people development',” he explained.
 
In March, the International School of Advertising (ISA) Africa partnered with the data science firm Predictive Analytics Lab and the recruitment firm Brighter Monday to host a "Marketing in a Gen Z World" Forum at the University of Nairobi as part of its apprenticeship program tour.&nbsp;
 
"We are teaming up to guide you through the maze of career readiness. We're offering free insights on how to ride the data-driven marketing wave," said ISA in a call for registration poster.
 
McKinsey's 'The Gen Z Equation' deep dive, calls for a change of perspective when considering Gen Z workers.
 
“To attract and retain these workers, employers should understand what this generation prioritizes in the workplace,” the report reads.
 
Gen Z prioritizes career development when considering a job offer, over compensation. Work flexibility is the top reason for their staying in a job, with the purpose of work being a deciding factor in whether they will remain in a job or quit, according to McKinsey.
 
These sentiments are also shared by Delloite in its Global 2024 Gen Z and Millenial Survey, Living and working with purpose in a transforming world.
 
According to the survey, the majority of Gen Z individuals (86%) - and an even higher number of millennials (89%) - believe that having a sense of purpose is crucial for their overall job satisfaction and well-being. Additionally, three-quarters of Gen Zs and millennials (75%) consider an organization's community engagement and societal impact as important factors when evaluating a potential employer.
 
“These generations are increasingly willing to reject assignments or employers who don’t align with their values,” said Delloite. &nbsp;
 
Brighter Monday Chief Executive Officer, Christ Otundo, speaking during the Annual HR Summit 2024, explained that many companies are struggling to articulate their value propositions.
 
“Organisations are increasingly leveraging employer branding but perhaps this is not done effectively. Companies have not articulated very clearly what their value propositions are,” Otundo explained.
 
The challenges facing Gen Z are not confined to what is often referred to as "sub-Saharan Africa", either. They are just as relevant in north Africa. AT Morocco’s Al-Akhawayn University, the dean of the School of Science and Engineering, Salah Al-Majeed, argues in his write-up on The Times Higher Education platform that Gen Z are often misunderstood.&nbsp;
 
Al-Majeed challenges educators to analyse and refocus on distinct skills such as creative spirit, entrepreneurship, willingness to challenge the status quo, social consciousness, and an ability to deliver high value and insight on issues such as sustainability, diversity, and social justice that the digital natives bring to the workplace.&nbsp;
 
“Gen Z is what we have. As educators, we should be embracing and building upon their many positive attributes rather than dwelling on their perceived failings,” said Al-Majeed.&nbsp;
 
He advocates for learning institutions to work together with recruiters to bridge the gap by mapping these competencies and creating platforms for showcasing the skills and creation of safe networking spaces with Gen-Zs.
 
bird story agency.
 
Useful links for editors:&nbsp;
 
https://www.mckinsey.com/quarterly/the-five-fifty/five-fifty-the-gen-z-equation
 
https://www.resumebuilder.com/3-in-4-managers-find-it-difficult-to-work-with-genz/
 
https://www.deloitte.com/content/dam/assets-shared/docs/campaigns/2024/deloitte-2024-genz-millennial-survey.pdf?dlva=1

Getting Gen Z work-ready: African universities stepping up

As more and more services move online across Africa, giant players like Safaricom, MTN and Airtel are stepping up their efforts to provide Africa with large, green-energy data centres.

Conrad Onyango, bird story agency
 
African telcos are racing to construct green-powered data centres as the continent's appetite for digital services grows, fueled by the world's largest youth population.
 
Already the continent is a pioneer and outperformer in mobile money, headlined by Kenya’s M-Pesa and other mobile payment services, with 60% of the population accessing the internet via mobile.&nbsp;
 
By 2025, 167 million more people from Sub-Saharan Africa are projected to be subscribed to mobile services, reaching 623 million users, and smartphone connections in the region are also seen &nbsp;more than doubling.
 
According to the International Finance Corporation (IFC), Africa’s Internet economy has the potential to reach 5.2% of the continent’s gross domestic product (GDP) by 2025, contributing nearly US $180 billion to its economy.
 
Major telcos on the continent are responding to this demand opportunity - supported by moves to take education, health care, agriculture services and governance online - by lining up data center projects they say will be among the largest and greenest on the continent.
 
In its 2024 sustainability report, Kenya’s giant telco, Safaricom has outlined &nbsp;plans to construct three &nbsp;Tier 3+ scale data centers, as part of &nbsp;its long-term strategy to transform from a telecommunications company to Africa’s leading purpose-led technology company, by 2030.
 
The company's Limuru Data Centers Phase 1 is already operational, with Phase 2 planned to come on stream by 2025.
 
“The facility is designed for future growth, with the potential to support 1,000 high density racks and an IT load of up to 20 MW within the next decade,” said Safaricom in the report.
 
The strategic location of the data center in the cooler Limuru region, the &nbsp;telco said, will enable it to deliver a Power Utilisation Effectiveness of 1.35, making it one of the most energy-efficient facilities in Africa.&nbsp;
 
“The facility is equipped with a 200 kWp rooftop solar PV plant, with plans to scale up to 2MWp. Additionally, we are exploring partnerships with renewable energy producers to further enhance our commitment to sustainability,” according to the sustainability report.
 
In June, MTN Nigeria announced it was building a 1,500-rack, Tier 4 data centre to play a pivotal role in meeting the growing data demands and digital needs of businesses and consumers in the country.
 
In a LinkedIn post, MTN Nigeria CEO, Karl Olutokun Toriola said the facility will be the largest in West Africa upon completion and will enable the telco &nbsp;to respond swiftly to market demands and support businesses in Nigeria.
 
“Ultimately, this center will play a vital role in supporting Nigerian businesses to collaborate through cloud services, expand their capabilities, and thrive,” said Toriola.
 
”Our commitment to Environmental, Social, and Governance (ESG) principles is reflected in the data center's eco-friendly design to utilize efficient cooling systems and a combination of traditional energy sources, gas, and renewable energy,” he added.
 
After launching a multi-million data centre business, Nxtra by Airtel, in December 2023 &nbsp;the telco broke ground in March to what it termed as one of Africa’s largest data centres in Lagos, Nigeria- with plans for more across the continent.
 
“Through this business we aim to create one of the largest networks of data centres in Africa with high-capacity facilities in major cities complementing our existing sites. We’re taking great care to incorporate modern energy efficiencies into our operations,” &nbsp;said Airtel Africa’s Sustainability Report 2024.
 
Africa Data Centers Association also affirms the expansion of &nbsp;industry &nbsp;due to the increasing demand for such facilities throughout the continent-citing Kenya, Morocco and South Africa as fast-growing markets- abeit with a huge infrastructure gap to fill in.&nbsp;
 
“Africa needs up to 1000 MW and 700 facilities to meet demand and bring capacity density on a par with that of South Africa, the region’s leader,” according to Data Centers in Africa focus report 2024.
 
Africa, the report shows accounted for less than 2% of global colocation Data Centers supply, with over half that total located in South Africa.&nbsp;
 
“The development of data centres is picking up pace due to strong demand from economic operators, as well as increasing awareness that African countries must establish their digital sovereignty in an increasingly competitive and complex world,” said Ayotunde Coker, Chairman, Africa Data Centres Association.
 
Nigeria is listed in the data centers focus report as Africa’s largest digital economy with the internet contributing US$36.5 billion to its GDP, followed by South Africa(US$31.5 billion) and Egypt (US$26 billion).
 
Other large digital economies include Morocco(US$21.1 billion), Kenya(US$12.8 billion), &nbsp;and Algeria (US$11.9 billion).
 
Allied Market Research projects that the global market for DC provision will reach US$517.2 billion by 2030, up from an estimated of US$187.4 billion in 2020.&nbsp;
 
bird story agency
 
Useful links for editors:&nbsp;
https://africadca.org/en/data-centres-in-africa-focus-report-2024
https://www.ifc.org/en/insights-reports/2020/google-e-conomy
https://airtel.africa/#/pages/responsibility?tab=sustainability_frame-work
https://www.safaricom.co.ke/about/sustainability/sustainable-business-reports

African telcos in race to build green data centres

Chumz, a Kenyan fintech that enables users to set savings goals with mobile money, has reached 200,000 users and is testing its services in Rwanda. With unique prompts encouraging behavior-based saving, Chumz empowers users with accessible financial tools. Expansion plans target 1 million users across East Africa by 2026.

🌍 Kenyan fintech startup Chumz, which helps users save and invest by prompting savings from mobile money, is expanding into Rwanda after gaining 200,000 users in Kenya.
 
💡 How Chumz Works:
<ul>
 <li>The app channels user funds from mobile accounts to licensed fund managers, who offer returns distributed back to users.</li>
 <li>Users are prompted to save based on behavior patterns, like spending at a pub or receiving funds, encouraging small, regular investments.</li>
</ul>
🎉 Unique Features and Success:
<ul>
 <li>The Superfan Challenge motivates savings based on favorite football teams' performance, adding a fun twist to saving.</li>
 <li>Chumz primarily serves retail investors who lack access to traditional fund managers, with women comprising the majority of savers.</li>
</ul>
🚀 Future Growth Plans:
<ul>
 <li>Chumz aims for 1 million Kenyan users by 2026 and plans to expand into Uganda, Tanzania, and Botswana.</li>
</ul>
 
With its accessible model, Chumz is filling a significant gap in East Africa’s financial inclusion landscape, supporting financial literacy across diverse demographics.
 
 
Read more on <a href="https://disruptafrica.com/2024/11/06/kenyan-fintech-startup-chumz-set-for-rwanda-expansion-after-hitting-200k-users/">Disrupt-Africa</a>

Chumz Expands to Rwanda: Kenyan Fintech with 200K Users Aims for 1M by 2026

Kobo360, the logistics powerhouse backed by Goldman Sachs, is rolling out HaulSight—an innovative fleet management software designed to help Africa’s major manufacturers streamline operations, track vehicles, and cut costs in real-time. With rising fuel prices squeezing margins, HaulSight presents an efficient way for companies like Dangote and Unilever to maximize fleet potential. Will this be a game-changer for Africa's logistics industry?

🚚 Kobo360, Africa's premier truck-hailing startup, is expanding its services with a new fleet management software called HaulSight to support Africa's large manufacturers and FMCG giants. Developed as a pure SaaS solution, HaulSight enables businesses to monitor fleet activity, optimize routes, and access invoice discounting—all without Kobo360 directly managing truck sourcing or transit logistics.
 
<h3>Key Features &amp; Strategic Benefits:</h3>
<ul>
 <li>Targeted Audience: Geared towards large enterprises like Flour Mills and Unilever, who often manage both in-house and third-party fleets.</li>
 <li>Revenue Potential: Offers Kobo360 a valuable revenue stream outside traditional truck-hailing, especially beneficial given rising fuel costs that are impacting logistics margins.</li>
 <li>Time-Saving Advantage: Existing industry relationships give Kobo360 an edge in navigating the lengthy sales cycles often associated with large corporations.</li>
</ul>
 
💡 Fleet Management Demand 
As Nigeria’s logistics industry grapples with rising operating costs, software solutions like HaulSight offer a vital alternative for companies to enhance visibility and control over valuable fleet assets. Alex Adenuga, CEO of Movam, emphasizes that the sector could benefit greatly from organized, efficient fleet management, despite the high entry cost for smaller operators.
 
🌍 Broader Industry Impact 
Kobo360’s pivot towards fleet management reflects a shift in Africa's logistics landscape, where the “aggregator model” is being reevaluated in favor of high-margin software sales. However, established competition and high switching costs may challenge widespread adoption among entrenched users of existing software like Nova Truck.
 
Conclusion 
With HaulSight, Kobo360 aims to extract added value from its 50,000-strong truck network, positioning itself as an indispensable logistics partner for Africa's biggest companies. The initiative reflects a larger industry trend: addressing operational challenges through tailored, data-driven solutions.
 
Read more on <a href="https://techcabal.com/2024/11/11/kobo360-is-developing-haulsight-management-software/">TechCabal</a>

Kobo360 Unveils HaulSight: Transforming Fleet Management for Africa’s Large-Scale Businesses

The Next Wave

TechSafari

Big Tech This Week

African contemporary art is experiencing a transformative moment, with artists from the continent gaining significant recognition in the global art market. Estimated and selling prices at a recent Sothebys auction in London highlight the growing international interest in the continent's artists.

Bonface Orucho, bird story agency
 
When Ethiopian-born artist Julie Mehretu set a new record for an African-born artist last November with her painting, ‘Walkers with the Dawn and Morning’, the price (US$10.38 million) trumpeted a growing interest in African contemporary art.
 
Prices at a Sothebys auction in London on September 27 appear to confirm the trend, with &nbsp;notable works by African artists like Ben Enwonwu on sale and some works reaching higher than anticipated prices.
 
The auction also offered work by South African-born artist Irma Stern as well as outstanding works by a number of artists who appeared at this year’s Venice Biennale, including Elias Sime, Toyin Ojih Odutola, Tunji Adeniyi-Jones, William Kentridge, Gerard Sekoto, Esther Mahlangu, Uche Okeke and others.
 
While some pieces did not attract buyers at the auction, the following is a list of the ten most expensive contemporary African artworks featured at the Sothebys London auction, according to the auction website.
 
Lady of the Harem by Irma Stern
Irma Stern’s "Lady of the Harem," an oil on canvas from 1946, is a striking depiction of a Zanzibari woman in traditional attire, with henna patterns subtly hinted on her hands and feet. According to Sothebys.com, the painting captures the "intricate cultural rituals within harems, including adornment with gold and henna, reflective of women's limited agency and status in post-slavery Zanzibar". Strauss Art's website shows that it was acquired from Roza van Gelderen around 1950, and has remained in private hands. Stern’s work, &nbsp;conveys the layered histories of Zanzibar and its women. The artwork's target price was in the &nbsp;range of £600,000 (US$666,900) to £800,000 (US$889,200 ) but the piece fetched more than £960,000 (over US$1.2 million). This is the highest result at an African Art auction for the last three years, according to the organisers.
 
Nigerian Beauty by Ben Enwonwu
Ben Enwonwu's Nigerian Beauty (1959) is a striking oil painting that captures both the elegance and the symbolism of a nation on the verge of independence. According to Google Arts and Culture, the artwork was painted just before Nigeria gained independence in 1960, reflecting the pride, optimism, and emerging identity of the country. The anticipated price range for the artwork at the auction ranged between £100,000 and £150,000 (US$111,150 and US$166,725) with the final price reaching the upper end of the scale, at £144000 (more than US$192,000).
 
The Emir in Council by Ben Enwonwu
The Emir in Council (1945-1959) is also a recent discovery artwork and the oil work captures a pivotal moment in Nigeria's transition from colonial rule to independence. The artwork depicts the Emir of Kano presiding over his council, juxtaposed with British colonial officers, highlighting the complex power dynamics of the era, according to artnet.net. Enwonwu's masterful blend of Western techniques and African aesthetics reflects his role in shaping Nigeria's cultural identity. This piece’s value was estimated to range between £70,000 - £90,000 (US$77,805 and US$100,035). It fetched £90,000 at the auction.
 
Tightrope: Split In Half, 2017 by Elias Sime&nbsp;
Elias Sime's Tightrope: Split In Half (2017) utilizes reclaimed electronic components, showcasing the artist's innovative use of e-waste sourced from Addis Ababa's Minalesh Tera Market. According to the Wellin Museum of Art, this piece, part of the Tightrope series, reflects Sime's belief in the stories embedded in discarded materials, highlighting themes of global interdependence and the impact of technology on society. Through intricate interweaving of wires, Sime invites viewers to explore the delicate balance between technological advancement and its consequences, reinforcing his critique of our interconnected world. Its value was estimated at between £70,000 and £90,000 (US$77,805 and US$100,035) and the piece sold for £72000).
 
Tightrope: Squeezed In, 2017 by Elias Sime
Part of the Tightrope series, this work again challenges perceptions of e-waste and prompts reflection on the delicate balance between technological advancement and its societal effects, according to Sotherby’s. It’s value was also set at £70,000 - £90,000. The piece was not sold at the auction.
 
Charcoal L by Pascale Marthine Tayou
Pascale Marthine Tayou's Charcoal L (2012) exemplifies the Cameroonian artist's innovative approach to charcoal and mixed media, merging drawing and sculpture. This large-scale work transforms found materials to explore themes of identity, culture, and human connection. According to artsy.net, Tayou’s craftsmanship sparks discussions on modern experiences related to his African identity, earning him recognition in prestigious international exhibitions. The value of Charcoal L was estimated at between £50,000 and £70,000 (US$55,575 and US$77,805) but was yet to sell by close of bidding time.
 
Queens Forever by Pascale Marthine Tayou
Pascale Marthine Tayou's Queens Forever (2009) is a captivating series of six hand-blown crystal sculptures that explore diaspora, identity, and contemporary complexities. Each figure, adorned with found materials, critiques social roles and the performative nature of identity in a globalized world, according to Middleheim Museum. Sotherbys notes that Tayou’s work transcends race and nationality, presenting a universal ideal that challenges societal constructs while celebrating cultural interplay. This piece was valued at between £40,000 and £60,000 (US$44,460 and US$66,690) at the auction but did not sell at the London auction.
 
Ansaku’ by Atta Kwami (2017)
Atta Kwami's Ansaku (2017) exemplifies his fusion of African traditions and modernist abstraction. Featuring grid-like forms and rhythmic patterns, the painting draws inspiration from Kente textiles and urban life in Ghana, according to artnet.com. Sotherby’s notes that Kwami's work reflects his cultural heritage while engaging with broader artistic movements. Celebrated in both Ghana and globally, his art is housed in prestigious collections, highlighting his significant contribution to modern African art. Its price was expected to range between £30,000 and £50,000 (US$33,345 and US$55,575) but was yet to be sold by end of auction window.
 
Ancient Fog by Alexander Skunder Boghossian
Alexander Skunder Boghossian's Ancient Fog (1975) is an oil painting that merges Ethiopian culture with surrealism and spirituality, showcasing his "Afro-Metaphysics" style. Influenced by his European studies and jazz, Boghossian conveys the healing essence of ancient scrolls in a fluid composition under a hazy sun, according to Sotherbys.com. Created during a transformative political era in Africa, this work highlights Boghossian's impact on the Pan-African cultural awakening and modern art. While its price at the auction was expected to range between £30,000 - £50,000 (US$33,345 and US$55,575), the piece was yet to be sold by close of the auction.
 
Objects of Desire, Addendum 7 by Meleko Mokgosi
Meleko Mokgosi's Objects of Desire, Addendum 7 (2019) features a compelling blend of inkjet, permanent marker, oil, and photo transfer on linen and canvas. According to aertguide.com, the work merges historical painting techniques with research-based annotations, prompting a critical examination of themes like colonialism, democracy, and nationalism in Southern Africa. As an artist and associate professor at Yale, Mokgosi's large-scale pieces invite viewers to engage with the complexities of African history through a multilayered artistic approach. It was expected to fetch between £20,000 and £30,000 (US$22,230 to US$33,345). The piece sold for £24000 (more than US$34000).
 
bird story agency
 
Useful link:&nbsp;
https://www.sothebys.com/en/buy/auction/2024/modern-contemporary-african-art-2

bird TenX: The 10 most expensive African artworks at a major international art auction

Nine African startups have been recognized for their innovative solutions on this year's prestigious Impact/100 list, showcasing their potential to drive meaningful change.

Bonface Orucho, bird story agency
 
Nine African startups offering diverse innovative solutions in different sectors have been included in the prestigious 2024 Impact/100 list, highlighting Africa’s potential to address global challenges.
 
According to the lead publisher and startup supporter, the Norrsken Foundation, the Impact/100 was developed as “a list of the world's most promising impact startups” and is "100 ways to fix the future".
 
The 100 startups were selected from over 1,200 competitors.
 
Celebrating his company's inclusion in the list, CEO of Kenyan-based electric vehicle automaker Roam, Filip Lovstrom, said the recognition was “fuel for our mission to change how Africa moves.”
 
“We’re committed to pushing boundaries, by making electric mobility a reality, and transforming everyday journeys into a statement for sustainability,” he added.
 
Roam was recognised for tackling global challenges by providing clean, affordable transport across Africa and advancing the UN Sustainable Development Goals (SDGs).
 
Other African startups included in the 2024 Impact list are:
 
Shara - FinTech
Shara is based in Kenya and focuses on unlocking financial access for Africa's unbanked population. Shara describes itself on its website as a company that uses cutting-edge technology to provide seamless financial solutions that enable individuals and small businesses to thrive by overcoming barriers to financial services.
 
Rology - &nbsp;HealthTech
Headquartered in Egypt, Rology leverages artificial intelligence and remote technology to provide accurate medical diagnostics. The company addresses the shortage of radiologists in emerging markets by connecting hospitals and doctors to remote radiology experts, enhancing healthcare outcomes.
 
Credrails - FinTech
Credrails, a Kenya-based FinTech company, powers Africa’s digital economy by providing businesses and consumers with easy access to financial data. Their open financial platform bridges the gap between financial institutions, helping businesses make informed decisions and fostering financial inclusion across the continent.
 
Kapu - FoodTech
Based in Kenya, Kapu is revolutionizing the food industry by making essential food items more affordable for low-income communities. Through innovative technology and supply chain optimization, Kapu aims to reduce the cost of food in Africa, ensuring better access to nutrition for all.
 
Bamboo - FinTech
Bamboo is a Nigeria-based FinTech startup that enables Africans to invest in U.S. stocks, making Wall Street accessible to the continent. The platform provides users with tools to invest globally with ease, democratizing access to international financial markets for African consumers.
 
Autochek - FinTech
Autochek, based in Nigeria, simplifies vehicle ownership by providing a digital platform for car sales, financing, and maintenance. Recently expanding into electric cars, Autochek is making it easier for Africans to own, finance, and maintain both traditional and electric vehicles.
 
Orca Fraud - FinTech
Orca Fraud is a South Africa-based company that uses artificial intelligence to detect and prevent fraud before it occurs. Their advanced AI tools monitor and identify potential threats, protecting businesses and consumers from financial fraud in real-time.
 
African Management Institute (AMI) (Kenya) – Education
Based in Kenya, the African Management Institute (AMI) provides practical, hands-on training for African businesses and entrepreneurs, according to its website. Through innovative learning platforms and tailored programs, AMI empowers leaders and managers across the continent to build sustainable and successful businesses, helping drive Africa’s economic growth.
 
Logos of the 100 startups are to be displayed on NASDAQ's iconic Times Square sign in New York in the USA as part of the recognition.&nbsp;
 
bird story agency
 
Useful link to editors:
https://www.norrsken.org/impact100#list

African impact startups featured on the 2024 Impact/100 list

A recent report reveals that employment in African cities is benefitting from accelerated investment in the green economy, with more job opportunities on the way. 


Bonface Orucho, bird story agency
 
African cities are among those reaping the rewards of ongoing rapid investment in climate action and related interventions. A new report shows more than 11% of all jobs on the continent are now green jobs - 7.5% direct jobs and 4.4% indirect jobs.
 
The analysis, conducted by C40, a global network of nearly 100 mayors from leading cities, examined 74 global cities across five continents.
 
“More than 168 million jobs were captured overall. Nearly 16 million of these can be classified as green jobs—about 10% of total employment. This includes almost 10 million direct green jobs and nearly 6 million indirect ones,” the researchers noted in their June report.
 
“This indicates that, in addition to creating direct green jobs, green investments are driving demand for materials and inputs, boosting employment in supplier industries,” they explain in the analysis on the C40 Cites website.
 
Notably, African cities such as Freetown, Nairobi, and Accra dominate the top five cities with more than 20% of jobs classified as green jobs. Bangkok, Thailand, and Lima, Peru are the only non-African cities to make the list.
 
The analysis, which utilized a methodology developed by Circle Economy and is based on International Labour Organization (ILO) definitions, was conducted in partnership with the United Nations Environment Programme (UNEP).
 
It revealed that most green jobs are found in sectors heavily influenced by local public policy, including transport and waste management.
 
Sectors where more than 25% of jobs are classified as green include water supply, sewerage, waste management and remediation activities, transportation and storage, electricity generation, steam and air conditioning supply, and the construction sector.
 
However, the report notes there is potential for even more green jobs in the region, as over 50% of jobs in many African countries are in informal sectors and may not have been captured in official statistics.
 
Despite the progress, equity gaps persist when assessing who benefits from these green jobs.
 
“Women occupy less than 10% of jobs in the construction sector and around 12% in the transport and storage sectors, on average,” the report highlights.&nbsp;
 
Young workers (under 24) also account for only 12% of jobs in construction and 10% in transport and storage sectors, on average.
 
“The green transition also presents an opportunity to address existing inequalities and create more diverse and inclusive workforces,” the researchers explain.
 
The momentum behind green jobs is expected to grow, with projections from other sources such as Shortlist and FSD Africa, in a June report, suggesting that over 3 million new direct green jobs could be created on the continent by 2030.
 
Different cities are already fast embracing programs and initiatives that promise to avail more green jobs. In Accra, for instance, a green jobs program supported by the Global Cities Fund is tackling waste management while creating jobs for locals. The program has integrated 40 waste workers into cooperatives and registered over 250 people for health insurance.
 
Besides having a dedicated energy and climate change unit Cape Town is considered a pioneer in opening up more opportunities in climate-related sectors especially in energy transition.&nbsp;
 
Cocody in Ivory Coast has recently launched its Green City Plan, targeting a 70% reduction in emissions by 2030. The plan aims to slash local greenhouse gas emissions by up to 90% and generate hundreds of thousands of new jobs while promoting sustainable lifestyles among residents. Similar ambitious initiatives are also underway in Dakar, Kampala, Tsévié, and Yaoundé, according to the World Economic Forum.
 
In addition, growing public discussions are shaping future goals and creating new opportunities for the green sector. Nairobi's inaugural National Green Jobs and Skills Development Workshop, held in May, brought together global partners such as the ILO, UNEP, and UNICEF. With a target of 240,000 green jobs by 2030, Nairobi is positioning itself as a leader in sustainable employment initiatives.
 
A similar workshop was hosted in Johannesburg in March dubbed the ‘Building City Resilience Through a Just and Equitable Transition.’&nbsp;
 
At the 2022 C40 World Mayors Summit, mayors pledged to create 50 million quality green jobs globally by 2030. Earlier in year, the report by FSD Africa and Shortlist projected South Africa to lead in green job growth, with 85,000 to 275,000 new opportunities. Nigeria is expected to follow with 60,000 to 240,000 jobs, while Kenya is forecasted to generate between 40,000 and 240,000 green jobs.
 
bird story agency
 
Useful links for editors:
https://www.weforum.org/agenda/2021/04/africa-cities-renewables-ren21/
https://www.c40.org/news/cities-good-green-jobs-analysis-16-million/
https://www.c40knowledgehub.org/s/article/Achieving-the-just-transition-A-toolkit-for-city-leaders-across-the-globe?language=en_US

Green job opportunities surge in Africa - report

D’Tigress and South Sudan’s men’s basketball team have achieved historic successes in the ongoing Olympic Games in France, showcasing the depth of Africa's rich sporting talent and potential.

by Silalei Shani, bird story agency
 
When Nigeria’s women’s basketball team, D’Tigress, pulled off a historic upset in women’s basketball with a 75-62 defeat of Australia’s Opals in their opening game, the win resounded through African basketball.&nbsp;
 
Closing out the first half with a 13-point lead and on the back of Ezinne Kalu’s 19 points, Nigeria managed to hold off the Opals until the final quarter when Australia cut down the lead to make it a one-possession game with 4 minutes left on the clock.&nbsp;
 
Amy Okwonkwo, who currently plays for French basketball club Bourges, delivered a clutch 3, allowing Nigeria to go on another run which extended to the final whistle and handed D'Tigress the game.&nbsp;
 
D’Tigress then faced France backed by an energetic home team crowd at Pierre Mauroy Stadium in their group second group B game. Though the Nigerians showed moments of brilliance, France dominated from the 1st quarter, maintaining a lead that carried to the end of the match.&nbsp;
 
Despite the loss, Nigeria again turned heads and captured the attention of the world as they returned with a vengeance in their their must-win contest with Canada on Sunday, August 4, &nbsp;defeating the north Americans 79-70 to advance to the quarterfinals.
 
Ezinne Kalu led Nigeria with 21 points, while Shay Colley paced Canada with 17 points.
 
The first half was closely contested, with Canada taking a four-point lead into halftime. However, Nigeria's relentless pressure in the second half proved too much for the Canadians to handle.
 
Nigeria outscored Canada 23-5 in the third quarter, including a 15-0 run that opened up an eight-point lead.&nbsp;
 
By the midway point of the fourth quarter, Nigeria's lead had grown to 17 points, sealing the victory and eliminating Canada from the tournament.&nbsp;
 
The continent’s sole representative in the Men’s Olympic basketball side, South Sudan, also made history with their first Olympic victory in their first group stage match up against Puerto Rico.&nbsp;
 
Exceeding expectations, South Sudan pulled off a 90-79 victory. The last time the two teams met was at the FIBA World Cup where South Sudan lost 101-96.
 
The win was a collective effort, with five South Sudanese players scoring in double digits led by Carlik Jones 19 points.&nbsp;
 
South Sudan faced the US side in their second group stage match looking to deliver a dominant performance after an earlier match up where they narrowly lost to the Americans, 101-100.&nbsp;
 
However, despite a great effort and a brief lead in the first quarter, South Sudan trailed for the rest of the game, losing 103-86. Nuni Omot led the team in scoring with 25 points, while Bul Kuol and Marial Shayok added 16 and 12 points respectively.&nbsp;
 
“I think tonight shows my ability of what I’m capable of doing,” Omot shared. “The Olympics is the 12 best teams that are competing right. Just to be able to be one of the 12 teams is an honor…People are going to know who South Sudan is.”
 
The South Sudanese came stunningly close to a monumental upset against the United States in a thrilling exhibition game in London on July 20.&nbsp;
 
Team USA, trailing by 16 points, had to rely on LeBron James' clutch basket with just eight seconds left to secure a nail-biting 101-100 victory.
 
While Serbia defeated South Sudan 96-85 in their final Group C match, pushing the Africans into third place in the group and dashing their quarter-final dreams, the perfomances of both South Sudan and Nigeria have been enough to announce clearly to the world that Africa is to be taken seriously as a basketball powerhouse.
 
bird story agency

Perfomances from Nigeria and South Sudan at the Paris Olympics mark a new chapter in African basketball 🇳🇬 🏅 🇸🇸  

The Swahili film industry is undergoing a makeover and stands to gain significantly if an Idris Elba mega studio comes to fruition. The project recently received a major boost with the allocation of an 80-hectare site in Zanzibar.

Bonface Orucho, bird story agency
 
The allocation of an 80-hectare parcel of land in Zanzibar to Hollywood star Idris Elba to build a film studio marks a new milestone in efforts to develop a regional film industry - efforts that are being supported by local government.
 
"Idris Elba will be building a modern studio similar to Hollywood, Nollywood or Bollywood… I'm not sure how we will call it in Zanzibar, whether Zallywood or Zawood, I don't know," Zanzibar’s Minister of Investment, Shariff Ali Shariff saod during the 27th anniversary celebrations of the Zanzibar International Film Festival held between August 1 and 4, according to AFP.
 
Conversations about the project have been ongoing since February 2023 when Tanzania’s Director of Presidential Communications Zuhura Yunus made the announcement after President Hassan’s trip to the 53rd World Economic Forum in Davos.
 
Elba, a renowned English actor and rapper with ties to Sierra Leone and Ghana has shown increasing interest in the African film industry, initiating partnership discussions with at least three countries: Ghana, Zanzibar and South Africa.
 
“Young Africans view me as a leader or a beacon. And I feel like I could bring something. So I’m keen to bring what I’ve learned in media and amplify it in Africa,” he told SA People, a South African outlet in 2022.
 
The film studio plans for the "Spice Island" brings renewed focus to the film potential of the island's tropical setting and history, with its world-class beaches and famous "Stone Town" offering a wide variety of settings.
 
Beyond Zanzibar, the film studio could reignite the region’s film industry especially that of mainland Tanzania where the "Bongowood" film industry is on a resurgence after a slowdown in the past decade.
 
In 2020, the government reviewed existing regulations, including slashing filming permit fees, aiming to replicate the success of regional powerhouses like Kenya, South Africa, and Nigeria. These countries have seen substantial investments from major producers like Netflix and Showmax, injecting millions of dollars into their film industries.
 
Recent entries into Africa's film production scene, such as Disney Plus's collaboration with Kenyan producers on the animated series ‘Kizazi Moto’, signal a growing international interest in the region's talent and narratives, an opportunity Tanzania can tap.
 
Tanzania recently collaborated with South Korea, initiating a benchmarking exercise where actors and actresses visited major studios in Busan for a reskilling program.
 
Last month, The Space Maasai, a Tanzanian feature film by Wilson Nkya, won a major award at the 2024 Durban FilmMart (DFM). The film pays tribute to young African boys and girls, inspiring them to pursue their passions and dreams.
 
Space Maasai, currently under development, was selected from 29 entries from countries like Egypt, Morocco, and Kenya. Other Tanzanian film ideas that won awards include Children of Honey by Jigar Ganatra and The Legend of Hyena Man by Matthew Valerian. Additionally, Kelele, a documentary project, was also recognized.
 
While their achievements may not yet match those of the biggest filmmakers and directors from Africa's major film hubs, the success of filmmakers like Walter Mzengi showcases Tanzania's potential to cultivate and nurture similar talent.
 
Walter Mzengi was among the five winners of the 2022 African Folktales, Reimagined award by Netflix and UNESCO, receiving a US$25,000 personal grant and an additional US$75,000 production grant for filmmaking.
 
Another significant milestone for the Tanzanian film industry occurred in 2022 when Amil Shivji's romantic drama ‘Vuta N’kuvute’ (Tug of War), a story of a young woman whose romance blossoms on the back of a political revolt durng the British colonial war in Zanzibar, became the country's second-ever entry into the Oscars, marking a first in 21 years.
 
The film premiered at the Toronto International Film Festival, has been screened at festivals in Germany, South Africa, the USA, Brazil and Switzerland, and won the Tanit d’Or at the Carthage Film Fest in Tunis as well as four awards at the 2022 African Movie Academy Awards in Lagos.
 
Other films from the East African country including ‘Binti’ and ‘Nyara’ are streaming on Netflix.
 
According to UNESCO, if well harnessed, Africa's film and audiovisual industries could create over 20 million jobs and contribute US$20 billion to the continent's combined GDP.
 
bird story agency

How an Idris Elba film studio in Zanzibar would be a big boost to the Swahili film industry 🎬 🇹🇿

A new report finds that Africa’s rapidly growing green economy could create over 3 million new jobs by 2030, highlighting the sector's significant potential for employment and sustainable development across the continent.

Bonface Orucho, bird story agency
 
Africa’s green economy has the potential to create up to 3.3 million new direct green jobs across the continent by 2030, according to a new report.
 
The report, ‘Forecasting Green Jobs in Africa’ &nbsp;by Shortlist and FSD Africa, with analysis from the Boston Consulting Group was unveiled on July 24 covering five focus countries: Democratic Republic of Congo (DRC), Ethiopia, Kenya, Nigeria and South Africa.
 
According to Mark Napier, CEO of FSD Africa, the report is of interetst because “there is a cross-sector effort across Africa to spur employment and sustainable development.”
 
“But stakeholders lack a shared, granular understanding of where the green jobs are going to come from. This report offers a methodology for forecasting green jobs which allows us to get practical about where we need to invest to make these jobs happen,” he explained in a press statement accompanying the report.
 
Key insights from the report indicate that job creation will focus on twelve green subsectors, primarily in renewable energy, particularly solar, e-mobility, sustainable agriculture, eco-friendly construction, and green manufacturing.
 
South Africa is projected to create the highest number of jobs, between 85000 and 275000 green jobs by 2030, mainly in energy, power generation, agriculture and nature sectors including conservation.
 
The solar industry is, however, projected to create the highest number of new employment opportunities by 2030, up to 140,000 new jobs.&nbsp;
 
South Africa's REIPPP program is one of the most ambitious solar initiatives in Africa, generating over 2,500 MW of solar and wind energy in the past decade. Africa Solar Industry Association projects that each MW of solar power generated can create up to 30 full-time jobs.
 
This is critical considering the huge unemployment rates in the country where about 10.2 million people were aged between 15 and 24 years as of Q3 of 2023 out of whom 32.7% were neither in employment nor in education or training.
 
The program is scaling rapidly, boosting both energy output and job creation. In December 2023, South Africa launched REIPPPP Bid Window 7, targeting 5 GW of renewable energy from solar, wind, green hydrogen, and hydropower.
 
Nigeria is also projected to create between 60000 and 240000 new green jobs by 2030 mainly in aquaculture and poultry subsectors both of which have the potential to generate up to 69000 new job opportunities.
 
Aquaculture is emerging as a sector of interest in Africa, with global investors increasingly directing resources towards it, signaling confidence in its growth potential.
 
After Aqua-Spark launched a $300 million African aquaculture fund in 2021, it has grown into a successful venture supporting major projects in Madagascar, Mozambique, the Lake Harvest project in Southern and East Africa, and Kenya's Aquarech.
 
Nigeria is especially grooming its aquaculture industry with projections by the World Aquaculture Society (WAS), through its African chapter, projecting the country’s aquaculture sector has the potential to generate an annual revenue of US$296 billion.&nbsp;
 
The country's Blue Economy Strategy, a 2023 blueprint, places aquaculture at the core of its plan to harness the vast potential of the blue economy.
 
Beyond aquaculture, poultry farming stands as a cornerstone of Nigeria's livestock industry, representing the most commercialized sector. According to the poultry association of Nigeria, the sector contributes over 25 percent to the Livestock Agricultural Gross Domestic Product (LAGDP).
 
“The industry has for the last five (Five) years, remained the No. 1 egg-producing nation in Africa and the No. 5 in Broiler Meat production in Africa,” Ichie Ezeobiora, the national president of the association explained in a recent press statement.
 
The authors of the report also explain that in Kenya, between 40000 and 240000 new jobs can be created by 2030. The solar sector is expected to lead this creation with an estimated 111000 jobs by the end of the decade. Ethiopia will see between 30,000 and 130,000 new green jobs while the DRC will &nbsp;put on between 15,000 to 45,000 new green jobs by 2030.
 
The quality of the projected new &nbsp;job opportunities varies from being skilled, semi-skilled to white collar. Notably, up to 60% of the new jobs will be skilled or white collar distributed as; 10% advanced jobs or highly skilled, 30% specialized jobs and 20% administrative jobs.
 
“Crucially, these job types tend to attract higher salaries and will, therefore, play a central role in spurring the growth of the middle class in countries hosting these high-growth sectors,” the authors explain.
 
Also, the stability of the unskilled jobs that is set to be created by these jobs is expected to provide significant opportunities for upward mobility. These positions will serve as stepping stones for candidates, enhancing their employability through access to training and valuable experience.
 
bird story agency
 
Useful links for editors:
https://fsdafrica.org/publication/forecasting-green-jobs-in-africa/
https://renewablesnow.com/news/s-africa-opens-reipppp-bid-window-7-targeting-5-gw-of-renewables-843213/
https://poultryassociationofnigeria.org/press-release-on-current-policy-and-fiscal-seige-on-the-poultry-industry-in-nigeria-the-industry-on-the-verge-of-total-collapse/
https://www.howwemadeitinafrica.com/from-kenya-to-nigeria-opportunities-in-africas-fish-farming-industry/169135/

Africa's green economy could create 3 million new jobs by 2030 - report

Africa's data market is experiencing a reset, with the aggressive rollout of satellite internet and intense competition promising faster and cheaper services, including markets with some of the world's most expensive data plans.

Conrad Onyango, bird story agency
 
A year after the introduction of commercial-scale satellite internet by Elon Musk’s Starlink in Africa, significant developments are beginning to reshape the continent's internet landscape, with cheaper and faster internet increasingly available in Africa as satellite infrastructure rollouts expand and competition among providers intensifies.&nbsp;
 
In May, Liquid Intelligent Technologies, a major internet player with a presence in 14 countries in Africa, partnered with OneWeb to expand internet access to remote areas promising to offer better connectivity, using both low Earth orbit and traditional satellites.
 
“This strategic move anticipates the expected surge in new LEO satellite constellations over the next three years, providing agile and cost-effective solutions for entering and expanding markets,” said &nbsp;Liquid Intelligent Technologies Chief Executive Officer, Ahmed El Beheiry, at the time.
 
Direct competition between foreign satellite internet providers, regional and domestic fiber and mobile network operators (MNO's) is shaking up of local internet service provision as well as driving strategic partnerships between satellite internet providers and MNO's for mobile satellite data provision.&nbsp;
 
Despite these intertwined competitions and collaborations, providers share a common goal: to improve internet access by offering high-speed and cheaper data to customers.
 
African countries with some of the most expensive data plans in the world are currently witnessing most of these developments as more foreign satellite internet providers gain a footing through strategic partnerships with local Internet service providers.
 
British firm, Eutelsat OneWeb, which forms part of the French Eutelsat Group and runs a network of low Earth orbit satellites has &nbsp;been making inroads into Africa by expanding satellite infrastructure and bolstering capacities of local internet service providers.
 
Zimbabwe, Zambia, South Sudan, Botswana, DR Congo, Rwanda, Mauritius are among countries that will benefit from anticipated cheaper data costs. Liquid Intelligent also has a presence in South Africa, Nigeria and Kenya.&nbsp;
 
In early July, Zimbabwe government-owned, telecom service provider, TelOne entered a strategic partnership to leverage OneWeb’s satellites through a reseller arrangement to offer high-speed internet to its customers at lower market prices.&nbsp;
 
“We will introduce flexible pricing models to remain competitive. If we need to give discounts on certain products, we will do so, so that we remain in the game,” local media outlet Newsday quoted TelOne Chief Executive Officer, Lawrence Nkala.
 
The decision came barely a month after the announcement of Starlink’s projected third-quarter 2024 launch in Zimbabwe.
 
According to UK-based price&nbsp;comparison website&nbsp;cable.co.uk, as of September 2023, Africa is home to some of the ten most expensive internet data offerings in the world.
 
Zimbabwe has been listed as the most expensive in the world with, with a price of US$43.75, for 1 GB of data, followed by Saint Helena (US$ 40.13), South Sudan (US$23.70), the Central African Republic (US$ 10.90) and Zambia (US$ 8.01).&nbsp;
 
In the region, average cost of 1GB is&nbsp;US$3.31 which is higher than global average of of US$2.59.
 
Since 2019, prices per 1GB have dropped&nbsp;significantly, however. &nbsp;Prices in Zambia dropped by 256%, in Central Africa Republic by 80.6% and in Sudan by 71.6%
 
Northern Africa is the cheapest region in the world overall, according to the report with average cost of 1GB at&nbsp;US$ 0.86. All countries in this region are cheaper than the global average.&nbsp;
 
While Elon Musk’s Starlink has been saddled by regulatory hurdles to make inroads in a number of &nbsp;African countries, it has also been shaking up markets where data prices are cheaper on the continent.
 
In Kenya, Starlink has introduced a 50GB monthly data plan priced at US$10 (Ksh 1,300) compared to Airtel Kenya’s US$23.4 (Ksh 3,000) and Safaricom’s &nbsp;US$19.5 (Ksh 2,500) for a 45GB plan.&nbsp;
 
“Affordable, high speed internet with 50GB of data included for Ksh 1,300/mo (opt in for additional data at Ksh 20/GB,” Starlink offered on its website.
 
The US$0.15 (Ksh 20/GB ) plan is lower than North Africa’s US$ 0.86 average, reflecting the positive impact of satellite internet in the Kenyan market.
 
Starlink also allows Kenyan users to pay for the data plans via mobile money services offered by Airtel and Safaricom.
 
The only competitive advantage the MNO’s have is the relatively high cost of acquiring hardware for the satellite service. While the MNOs' satellite service will ride on existing registered sim cards, one requires Ksh 45,500 to install Starlink hardware.
 
The Communications Authority of Kenya’s Sector Statistics Report Q3 FY 2023-24 show the &nbsp;number of 100Mbps to 1GBps users - the highest speed range for internet data in Kenya stood at 4,504 by March 2024 - has increased to the the highest ever since since the launch of Starlink in July 2023.
 
“The utilized satellite capacity increased remarkably following the launch of Starlink’s high-speed, low-latency satellite Internet in the country,” according to the report.
 
The regulator’s data showed that between December 2023 to March 2024, Kenya’s Satellite bandwidth grew from 0.44GBps to 48.4GBps.
 
Starlink’s significant success in Africa is in Nigeria, where the country’s communication regulator has already ranked it as the third-largest internet service provider by subscriber base.
 
As of the end of 2023, Starlink had 23,897 active customers in Nigeria, less than a year after its launch in January 2023. This number is closing in on the 27,000 active users of Nigeria’s second-largest provider, FiberOne. The country’s largest and oldest ISP, Spectranet, had 113,869 active customers.
 
While such competition is hottest in urban centers, MNO’s are collaborating with satellite internet providers to cover remote parts of the continent.
 
In December 2023, giant telco, MTN announced a multi-partnership arrangement with a number of satellite providers to &nbsp;test standard and direct-to-device satellite services.&nbsp;
 
MTN announced plans to conduct pilots with Lynk Global in Ghana and South Africa, negotiate tests with AST SpaceMobile in Nigeria and South Sudan, and conduct enterprise-focused trials with Starlink in Rwanda and Nigeria.&nbsp;
 
Similarly, Safaricom and other Africa operators from parent company, Vodacom Group are also eyeing entry into mobile data satellite services through a collaboration with AST SpaceMobile.
 
bird story agency

Cheaper data beckons in Africa as satellite internet roll-out intensifies

Prospects for high-tech manufacturing beckon for Africa as the United States moves to secure critical supply chains and cultivate a robust new frontier in the global semiconductor market.

Seth Onyango, bird story agency&nbsp;
 
Africa could finally insert itself into the chip-making value chain as the U.S. taps Kenya for a groundbreaking semiconductor manufacturing partnership.
 
In the World Economic Forum's latest analysis, this development represents a pivotal moment for Africa, offering an opportunity to transition from a raw materials supplier to an essential player in the high-tech ecosystem.
 
In May 2024 the US Trade and Development Agency teamed up with Kenya to enhance semiconductor manufacturing in the East African country, a move that would bring Africa into the fold of global semiconductor supply chains.
 
“USTDA’s assistance will unlock significant investment opportunities for Semiconductor Technologies Limited (STL) and for the Kenya semiconductor ecosystem, fostering extensive bilateral and private sector engagement among the U.S., Kenya, and the broader continent,” said STL’s Founder and Chief Executive Officer, Anthony Githinji at the time.
 
For years, Africa has been seen primarily as a source of raw materials, but this partnership signals a new era where the continent can become an integral part of the high-tech supply chain.&nbsp;
 
The WEF highlights that this partnership is just the beginning of a larger strategy to secure critical supply chains and foster dynamic growth in the global semiconductor landscape.
 
"This development signals a pivotal moment for Kenya and the African continent, which is beginning to position itself as a critical player in the global semiconductor ecosystem. But it’s just the first move in a much larger game," said Ayodele Okeowo Managing Director, Tusk Strategies and Nii Simmonds Nonresident, Senior Fellow, Atlantic Council in their analysis for the Forum's Centre for Advanced Manufacturing and Supply Chains report.
 
This comes after authorities in Beijing announced that they would be tightening export controls for some types of graphite, a critical mineral for the production of batteries and other electronics.
 
Kenya, along with other African nations like Nigeria, Rwanda, and Ghana, boasts abundant critical minerals necessary for semiconductor production.&nbsp;
 
These countries also have a youthful population eager to embrace technology and innovation.&nbsp;
 
"These nations could become critical hubs in a global network that demands resilience and adaptability and as billions of dollars pour into national semiconductor markets, as seen in the United States, South Korea, China and the European Union (EU)," the WEF report said.&nbsp;
 
"As the United States develops its semiconductor manufacturing capacity domestically through historic direct investments in projects across the supply chain – $327 billion over the next 10 years – there has also been an emphasis on increased coordination with friendly and allied global partners."
 
Leveraging these resources, the initiative aims to create a sustainable and resilient supply chain that can withstand global market fluctuations and geopolitical tensions.
 
At a time when the global semiconductor industry is grappling with supply chain disruptions, this move is crucial.&nbsp;
 
The COVID-19 pandemic exposed vulnerabilities in the existing supply chain, leading to significant shortages and production delays.&nbsp;
Establishing a manufacturing hub in Kenya aims to mitigate these risks and ensure a steady supply of semiconductors, vital for industries such as automotive, electronics, and telecommunications.
 
The partnership includes substantial investments in infrastructure, technology transfer, and workforce training with the approach designed to build a robust semiconductor manufacturing ecosystem in Kenya, capable of meeting international standards and demands.
 
While the potential benefits are significant, the initiative also faces several challenges. Building a semiconductor manufacturing industry from scratch requires substantial investments in infrastructure, education, and technology.&nbsp;
 
Developing a regulatory framework that supports innovation while ensuring environmental sustainability is also essential.
 
However, the strong commitment from both the US and Kenyan governments indicates a determination to overcome these challenges.&nbsp;
 
By fostering public-private partnerships and leveraging international expertise, the project aims to establish a solid foundation for long-term success.
 
bird story agency&nbsp;
 
Useful links for editors:
https://www.ustda.gov/ustda-partners-with-kenya-to-boost-semiconductor-manufacturing/
 
https://www.weforum.org/agenda/2024/07/why-africa-could-provide-the-next-semiconductor-ecosystem-for-the-chip-business/
 
https://centres.weforum.org/centre-for-advanced-manufacturing-and-supply-chains/home

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