Sub-Saharan Africa is seen as a new frontier for investment and expansion and the economic […]
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The rise of Africa’s financial services sector in recent years has been remarkable. From a […]
KPMG Africa has collaborated across our healthcare practices in West, East and Sub-Saharan Africa to […]
Pepkor plans to double its presence in Nigeria by 2018 PEPKOR, the local clothing retailer […]
MTN Group may buy Nigeria’s Visafone ACQUISITION MTN Group has started the process of buying […]
When it comes to information technology in Africa, analysts will tell you, this continent has […]
Automotive Manufacturing Plants prepare to expand in Africa While the South African automotive market looks […]
Africa’s economic growth and performance has improved greatly since the turn of the century, leading […]
It is no news that education in Africa faces several obstacles; there are scarcity of […]
While sub-Saharan Africa might be home to 11% of the world’s population, it holds up […]
Diseases and Mortality in Africa The state of healthcare in Africa is not particularly promising, […]
Very few Africans make use of formal financial services. In fact, only 24% of adult Sub-Saharan Africans had a bank account in 2012, while the global average was 50%, says the Global Findex Database. In the following countries less than 10% had an account that year: Sudan, Senegal, DRC, Central African Republic, Chad, Niger, Madagascar and Mali.
The impact of manufacturing on economic development has been widely studied. Very few countries have been able to grow and accumulate wealth without investing in their manufacturing industries, and a strong and thriving manufacturing sector usually precipitates industrialisation. The manufacturing sector is widely considered to be the ideal industry to drive Africa’s development.
We are one world; we are affected by the wellbeing of our neighbours and our business partners… The stories of human suffering coming out of West Africa are staggering. The human cost of this strange disease, immense. The fall-out of the epidemic is not just health-related. It is also economic.
Africa has vast agricultural potential, but there is a large leap from the current system, dominated by small-scale and subsistence farming, to commercial farming where the benefits of economies of scale can be reaped. Nevertheless, the answer lies not only with commercial farming, but also in reducing the potential that goes to waste with small-scale farmers’ lack of access to stable markets, technology and finance.
More Africans have access to a mobile phone network than to piped water, electricity or a health clinic, revealed last month’s Afrobarometer, which canvassed 34 African nations. The report showed that while cellphone coverage is almost universal at 93%, only 64% of Africans have access to an electricity grid (many of which are moreover unreliable), 62% have access to a health clinic, and 59% have access to piped water.
Recently the Carlyle Group, one of the largest global asset management firms, specialising in private equity, closed its maiden sub-Saharan Africa Fund at around US$700m – about 40% beyond its original target. This has followed the closure of a number of similar Africa funds at anywhere from US$350m to US$1bn. Private equity operating norms suggest that these funds will have to be deployed within the next couple of years – and this illustrates the direction of travel of one of the most focused streams of global investment capital.
According to an International Labour Organisation (ILO) report sub-Saharan Africa has the world’s highest proportion (40%) of women who are just contributing family workers and are only supportive of the primary income earner. Only 15% of sub-Saharan African women are salaried (in developed countries it’s around 90%), and for most a job is not about building a career but about survival. In spite of the fact that women play such a key role in the home, and economy, they are not properly recognised and rewarded for their contribution.
Africa is the poorest continent in the world, yet it is one of the richest in terms of its natural resources. Its vast arable lands, excellent fishing grounds, and abundant fresh water supply (in certain regions at least) offer vast potential. Not only is Africa capable of feeding all of its own, it has been recognised as a potential world bread basket.
Standard Bank-owned asset manager Stanlib has set up operations in Ghana through the acquisition of the Stanbic Investment Management Services division. It is also pursuing an asset management acquisition in Nigeria, which it hopes to close in the first half of 2015.
South African banks and construction companies have been expanding activities in the rest of Africa, where energy is one of the fastest-growing sectors. The $900m of debt and equity project finance for the Kpone Independent Power Plant and associated infrastructure in Ghana was closed by financiers and industrialists, including several South African banks.
The healthcare sector in Africa can be considered a major growth opportunity for two main reasons: because of the tremendous health challenges that the continent faces, and because of the very serious deficiencies that still exist in Africa’s healthcare, compared to the rest of the world.
Nigeria continues as the key player, ranking as the world’s 13th biggest oil producer, and the continent as a whole produces significantly more oil than it consumes.
Education in Africa faces numerous obstacles, from a scarcity of schools and supplies to untrained teachers and children too hungry to concentrate. Below we identify the top 5 requirements for Africa to propel its education, and consequently its socioeconomic growth, into the next phase of development.
Citi, the multinational bank headquartered in Manhattan, has pledged $2.5 billion in incremental capital to fund the Power Africa initiative, which aims to bring electricity to millions in Sub-Saharan Africa.
Africa’s 2013 literacy rates vary widely, from 90.7% and 87% in Zimbabwe and Equatorial Guinea respectively, the continent’s best rates, to 21.8% 25.7% in Burkina Faso and Chad respectively, the continent’s worst. Addressing Africa’s literacy gap therefore requires varied, country- or region-specific approaches.
Zimbabwe’s efforts to revive the economy using proceeds from the tourism industry has failed as tourist arrivals stagnated in the first half of the year, with arrivals only increasing by 1 percent compared with the prior year. This growth was supported by the increase in arrivals from Europe, Germany and the UK.
While urban planners discuss the various possible solutions, they would do well not to overlook the key role being played by universities, which could be enhanced even further.
Insurance in Africa is under-developed, largely because most Africans simply cannot yet afford it.
Among the most important private equity players are public companies, which often base their investment decisions on considerations other than pure profit