Africas

The Growing Challenge of Business Closures in South Africa As we step into 2024, South Africa finds itself grappling with a troubling trend: the continued rise in business closures. In April alone, over 100 companies faced liquidation, marking a 13.2% increase compared to the same time last year. This statistic isn't just a number; it reveals the deep-rooted challenges that continue to plague the South African business environment. Digging deeper into the data, we see a notable increase in voluntary…

South Africa's Telecom Landscape: A Controversial Shift in Policy Recently, the Financial Times reported significant developments in South Africa’s telecommunications policy, initiated by the government's Minister of Communications, Solly Malatsi. He announced a plan that would permit telecom companies, including Starlink, to bypass the mandated 30% Black ownership requirement through measures such as ‘equity equivalence’. This initiative proposes that these companies might engage in local partnerships, create jobs, or…

The Economic Impacts of Weak Currencies in Africa A weak currency can be likened to a house of cards—it may appear stable until the slightest disturbance brings it crashing down. For nations, the ramifications stretch beyond fluctuating exchange rates. A weak currency can undermine economic stability, erode investor confidence, and adversely affect the well-being of a nation's citizens. Have you ever wondered how essential currency stability is for a thriving economy? Take Zimbabwe, for instance. In April…

Nigeria and South Africa: The Energy Landscape Shift Recent developments in Africa’s energy scene are hard to ignore, particularly when we consider Nigeria's evolution from being the continent's most significant petrol importer to approaching self-sufficiency in fuel production. For years, Nigeria, despite its status as one of Africa's largest crude oil producers, has struggled with heavy reliance on imported refined petroleum. What does this transformation mean for the national psyche? Could this be the moment…

Nearly half of South Africa's refining capacity lies dormant, a staggering statistic that highlights the ongoing challenges faced by the nation's energy sector. In just five years, South Africa's refining capacity has been slashed by 50%, a decline attributed to a complex mix of accidents and a desperate lack of investment. At times, the magnitude of these figures can be overwhelming, but what does this really mean for the everyday South African? According to Transnet SOC Ltd., the state-owned logistics firm,…

Welcome to Your Daily Insight on the African Economy Thank you for signing up! We are thrilled to have you join our community of insightful thinkers and engaged readers. Our goal is simple yet profound: to keep you in the loop with the latest developments in the African economy. Each day, we curate the best content from Business Insider, capturing the stories and trends that shape our marketplace, leadership, career paths, and lifestyle choices. In a world that's always in motion, staying informed isn't just beneficial;…

The journey of a successful innovator often begins with a value-driven mindset, a principle that has been a cornerstone for Ayobami Jayeoba. His decisions as a product leader span various sectors like fintech, e-commerce, and manufacturing. In fintech, for instance, his focus on risk reduction translates directly into cost savings. In e-commerce, a seamless user experience can significantly boost conversion rates. Meanwhile, in manufacturing, he believes that operational efficiency can lead to substantial revenue…

The Lobito Corridor Impact Development Platform: Fostering U.S.-Africa Cooperation The Lobito Corridor Impact Development Platform (LCID) is set to revolutionize cooperative efforts between the United States and Africa. By strategically investing in key sectors—agriculture, infrastructure, healthcare, light industry, education, and digital inclusion—the initiative aspires to ignite economic growth and regional integration across Angola, the Democratic Republic of Congo (DRC), and Zambia. It’s not merely about numbers;…

Intensifying Brand Competition in Africa In the ever-changing landscape of mobile telecommunications, TRANSSION has maintained its dominance in Africa, boasting a 47% market share. However, it’s worth noting that this figure has dipped by 5% compared to the previous year. As veteran vendors steady their ships, new competitors are rising to the occasion, armed with innovations and savvy marketing strategies. Samsung captured 21% of the market, primarily thanks to its popular A-series phones, which continue to resonate…

Data-Driven Strategies at Absa: A Conversation with Hartnell Ndungi Managing data across diverse countries and markets can feel like trying to juggle flaming torches while riding a unicycle. It’s no small task. It takes not just vision but strong leadership to navigate these complexities effectively. This was a prominent theme during our conversation with Hartnell Ndungi, the Chief Data Officer at Absa—one of Africa’s largest banking institutions. In an era where data shapes industries, Absa is taking significant strides…