Tag Archives: growth
growth: Latest News
Peter Pedroncelli, 6:40 am
South Africa’s fintech adoption rate is expected to experience a surge in the near future, with the country’s uptake of fintech services set to be greater than the global average. Africa’s most industrialised economy is forecast to enjoy a future fintech adoption rate of around 71 percent in the coming years, which is far higher than the average global growth rate of 52 percent, according to global accounting and consulting firm Ernst and Young.
Kurt Davis Jr., 5:02 am AFKI Original
Political angst and turmoil combined with terrorism has slashed tourism in numerous countries across the world, including on the African continent, and countries are desperate to reignite tourism after the damage dwindling numbers have caused. But Tunisia, Kenya, and Egypt are now overcoming the issues that have plagued their countries in an effort to see tourism numbers return, and early signs are good. Much still needs to be done, but these three nations are on the right track.
Tom Jackson, 3:00 am AFKI Original
The tech scene in North Africa is booming once again, with investors interested in backing startups across Egypt, Morocco and Tunisia. Venture capital firms are flooding back into Egypt, from 500 Startups to the IFC to Algebra Ventures, and after years of being denied access to funds, Egyptian tech startups are now swimming in them again. The story is equally positive for Morocco and Tunisia, and the region’s tech future looks bright once again.
Peter Pedroncelli, 7:23 am
Sub-Saharan Africa is set to be the fastest growing region in the world in terms of mobile subscriptions over the current five-year period, with over half a billion mobile subscribers expected in the continent by 2020. A new research report from industry body Groupe Spéciale Mobile Association (GSMA) confirms that the African region will experience phenomenal growth from a mobile subscriptions perspective until the end of the current decade.
Peter Pedroncelli, 5:54 am
Africa has experienced a major growth of new mobile subscriptions during the first quarter of 2017, with nine million Africans signing up for new services during that time. Out of 107 million new mobile subscriptions that were added globally, nine million were from Africa with three million of those from Nigeria alone, according to the latest Ericsson Mobility report. In terms of the total mobile subscriptions globally, Africa now has 985 million, more than the total amount of subscriptions in Western Europe (520 million) and the Middle East (415 million) combined.
Peter Pedroncelli, 6:15 am
While wearable tech is all the rage across the globe, Africa is not being left behind, with first quarter data showing impressive growth for the African region, alongside the Middle East. Wearable devices such as the Samsung Gear and Apple iWatch have gained traction in Africa, and the latest figures compiled by the International Data Corporation show an upward trend for the fashionable and functional accessories. The International Data Corporation’s Worldwide Quarterly Wearable Device Tracker for the first three months of 2017 illustrates that shipments of wearables were up 30.2 percent year-on-year.
Reuters, 1:01 am
Airbnb, a US-based online marketplace to list or rent short-term lodgings, expects to double its customer numbers in Africa this year to 1.5 million. Company CEO Brian Chesky was in Cape Town’s oldest township Friday to surprise graduates from an Airbnb training program. He described Africa as “an incredibly exciting emerging market for travel.” The top five Airbnb cities in Africa are Cape Town, Marrakesh, Johannesburg, Nairobi and Casablanca, although listings are found from St. Helena island in the South Atlantic Ocean to Freetown, Sierra Leone, and Somalia.
Dana Sanchez, 12:35 pm
Facebook beat Wall Street expectations for sales and user growth in the fourth quarter of 2016, and it credits Internet.org, its free basic version of the internet in developing countries, for helping make that happen. It added more users worldwide in the fourth quarter than any quarter since the company went public in 2012. Founder Mark Zuckerberg’s vision is to get more Africans online. “This isn’t a purely altruistic venture,” an analyst said. Internet.org, is available in 23 African countries through partnerships with mobile operators.
Peter Pedroncelli, 2:15 am AFKI Original
The African continent is home to some of the fastest growing economies on the planet, with numerous nations on the continent among the top 10 best performing economies globally. The best performing economies in Africa have benefited from government policies and structural reforms, which have resulted in strong inclusive growth. According to the International Monetary Fund’s (IMF) World Economic Outlook for 2016, a long list of African economies were in line to achieve positive growth above 3% for the year 2016.
Staff, 4:37 pm
Democratic Republic of Congo has been one of sub-Saharan Africa’s strongest performers in terms of real gross domestic product growth over the past five years, as the economy recovers from a civil war that ended in 2003. But uncertainty over whether the country will hold elections this year has alarmed foreign investors. A slump in global commodities prices hit DRC’s mining industry, which has been forced to scale back production.
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