With over 90% of businesses in Africa’s food sector being micro, small, or medium enterprises (MSMEs), the report highlights the need to promote economies of scale and shared production tools. This approach could help lower operating costs and meet African consumers' buying preferences better. About 70% of consumers in Sub-Saharan Africa prefer local food brands over international ones due to...

West Africa is the leading region for powdered milk imports in Africa. While demand for dairy products is growing in the area, developing local dairy industries remains a significant challenge. In West Africa, calls to ban imports of whole milk powder could harm local dairy processors supplying urban consumers, according to Christian Corniaux, Deputy Director of the Selmet Research Unit at...

Nigeria is facing economic challenges driven by inflation and the devaluation of its currency, the naira. Economic growth has struggled to keep up with a fast-growing population, which has deepened poverty across the country, reports the World Bank. A recent World Bank report reveals that 47% of Nigeria’s population now lives below the international poverty line of $2.15 per day. This...

Kenya’s digital landscape is poised for continued expansion, with a focus on improving digital access across both urban and rural regions. Addressing infrastructure constraints and maintaining favorable regulatory conditions will be key to supporting this momentum. Starlink has paused new subscriptions in Nairobi and five nearby counties due to overwhelming demand that has stretched the...

Private equity struggles persist as investors focus on smaller deals and debt financing, awaiting brighter prospects in Africa and beyond. Private equity in Africa has slowed down this year. According to the latest report from the African Private Equity and Venture Capital Association (AVCA), investments on the continent have fallen by 11% since the start of 2024, continuing a decline that began...

To meet Africa's energy and climate goals by 2030, the IEA estimates that over $200 billion in yearly investments will be needed to address the continent's rising energy demands. The African Energy Bank (AEB) is set to begin operations on January 28, 2025, according to a statement from the Nigerian government. This announcement followed the 19th board meeting of the African Petroleum...

The global online gambling market has been expanding rapidly for several years, transforming gaming habits worldwide. Despite socio-economic challenges, Africa is a promising ground for growth in this sector. The global online gambling market is booming, with projections showing it will grow from $84.79 billion in 2023 to $164.53 billion by 2033, at an annual growth rate of 6.85%....

Even though venture capital investments have slowed in Africa, sectors like fintech and renewable energy continue to draw significant funding. However, the ecosystem remains largely male-dominated. In October 2024, African startups raised a total of $254 million, marking the best October since 2019. A total of 42 companies secured funding despite a global tightening of liquidity. According...

The funds will primarily go toward settling loans provided by Ethiopia’s largest bank to several state-owned companies, including Ethiopia Electric Power, Ethiopian Sugar Corp, and Ethiopia Railway Corp. Ethiopia plans to issue domestic bonds worth 900 billion birr ($7.4 billion) to pay off debts held by several state-owned enterprises that have heavily burdened the Commercial Bank of...

In Côte d'Ivoire, the middle class's taste for wine shows no signs of slowing down. In this West African nation, one of the continent's fastest-growing economies, demand for the beverage keeps rising steadily. Wine has become increasingly popular in Côte d'Ivoire, especially among the rising middle-class and upper-income groups who see it as a symbol of social refinement. Benefiting from...