While 4G will remain the main driver of growth in the Sub-Saharan African mobile market by the end of the current decade, the GSMA expects 5G to capture 16% of all subscriptions by that time.  Smartphone adoption will reach 87% in sub-Saharan Africa by 2030, up from 51% in 2022, according to the “The Mobile Economy 2023” report released on Feb. 27, 2023, by the Global System Operators...

African economies remain resilient with a stable outlook in 2023-2024, despite the tightening global financial conditions, the African Development Bank has projected in a new report. The report, Africa’s Macroeconomic Performance and Outlook (MEO) 2023, estimates Africa’s average GDP to stabilize at 4% in the next two years, up from 3.8% in 2022. Presenting the report on 17 February on the...

In its financial results for the fourth quarter of 2022, the Moroccan insurer posted a $521.3 million turnover for 2022, slightly above the 2021 turnover.   Last Tuesday, Moroccan insurance company Atlanta Sanad Assurances posted its Q4-2022 report. In the report, the company posted a MAD5.4 billion ($521.3 million) turnover for 2022, slightly above the MAD5.4 billion ($521 million)...

Econet Wireless controls 67% of the Zimbabwean telecom market. To improve its services and strengthen its leading position, it wants to accelerate the modernization of its network.   Telecom operator Econet Wireless Zimbabwe recently inked a new partnership agreement with Swedish technology company Ericsson to upgrade its network infrastructure across Zimbabwe. The agreement was signed last...

Five days after a tight presidential election that broke turnout records, Nigeria now has the name of its new president. At 70, Bola Tinubu who has long been considered a kingmaker will now lead Africa’s most populous country, which is facing a serious economic and security crisis.   Nigerian veteran politician, Bola Tinubu (photo) is the winner of the February 25 presidential election....

Representatives of the African Development Bank and the United Nations Refugee Agency have conducted a joint visit to Central African Republic to explore the potential of joint initiatives for durable solutions to sustain the returns of refugees and internally displaced people. The UNHCR team, led by Raouf Mazou, Assistant High Commissioner for Operations together with Director of the Transition...

Expanding financial access for Liberia’s artisanal and small-scale mining sub-sector is feasible through formalization and de-risking measures, according to a recent study published by the African Development Bank and the Liberian government. According to the report, potential solutions to support the livelihoods of small-scale miners include setting up enabling regulatory and institutional...

This is the institution's first loan for sustainable investments in the African building materials sector. Several commercial banks participated in the operation and will provide additional resources in local currency. The International Finance Corporation (IFC) announced Monday, a €242 million (about $256.6 million) loan to Sococim Industries, the Senegalese subsidiary of French...

Personal data protection has become a major strategic issue in Africa, which is undergoing accelerated digital transformation. On the continent, few countries  have a data protection authority and Angola is one of them. The Angolan Data Protection Agency (APD) recently announced a $150,000 fine slammed on Africell Angola over the violation of the Personal Data Protection Act (PDPA)....

The Malian economy is facing several challenges aggravated by sanctions from regional institutions and the impacts of the COVID-19 pandemic and the Russia-Ukraine crisis. To boost its resilience the government is multiplying initiatives. The Malian economy has been more resilient in 2022, with positive outlooks for the coming years, Finance Minister Alousseni Sanou (photo) said last Thursday...