Central banks around the world are looking to develop their own digital currencies, which use technology to represent a country’s official currency in digital form.
Despite speech increasingly becoming one of the main ways people interact with devices, voice technology remains largely closed off to Africa’s languages, accents, and speech patterns. Case in point: The world’s most popular voice assistants, Siri, Alexa and Google Assistant, still don’t support any African languages. The continent has more than 1,000 languages.
Ghana’s planned issue of a social bond could kickstart a trend in Africa.
There’s been a flurry of activity around African data in the past two months.
A greater number of startups in sub-Saharan Africa are offering telemedicine services, spurred on by the Covid-19 pandemic and increasing digital adoption across the continent. But a lack of “clear and harmonized” regulation is preventing the industry from taking off, according to a new report on health innovation in the region.
The number of early-stage deals among African fintech startups is increasing, but the average size of the deals remains low compared to that of other regions, and funding gaps persist at the early stages, according to a new report on the industry in emerging markets. Creative funding solutions may go some way to overcoming these obstacles, it says.
The Covid-19 pandemic has further exposed corruption in African governments, as numerous reports emerge from procurement deals struck under shady circumstances. In South Africa, there are accusations of the misuse of $900 million in public funds meant for fighting the pandemic. In Uganda, four top officials were arrested on suspicion of inflating prices for Covid-19 relief food, costing the government at least $528,000.
In a contentious reversal of its previous position, the US on May 6 announced its support for a suspension of intellectual property rights on Covid-19 vaccines. The African Union’s public health agency applauded the move, saying the waiver would offer the continent a “unique” opportunity to advance its vaccine manufacturing.
Sub-Saharan Africa’s apparel, textile, and footwear market is estimated to be worth $31 billion, and its fashions are often an inspiration for international designers. But many of its entrepreneurs operate in the informal sector. A lack of wide access to capital, low production capacities, and small distribution networks limit the industry’s growth potential.
Finding, attracting, and retaining top talent is a big challenge for tech startups in Africa.
Kenyans are petitioning the International Monetary Fund to cancel its approval of a $2.34 billion loan for Kenya, citing mismanagement of funds by the government and the country’s increasing debt load.
The Covid-19 pandemic is widening the income gap between sub-Saharan Africa and the rest of the world, according to the IMF, risking greater differences in living standards between countries. This is particularly concerning for a region where millions have already been pushed into poverty by the pandemic.
A recently published letter by a group of prominent African scientists and health practitioners to international funders has reignited a conversation over the funding models used by western governments and global health institutions for the continent.
A huge appetite for African eurobonds is spurring a wave of issuances in the continent.
Fueled by a young population, great musical talent, and more streaming opportunities, Africa’s music industry is booming, and the world’s major record labels are taking notice.
A new report led by AidData, a US-based development finance research lab, reveals the ways in which Chinese lenders use contracts to gain an advantage over other creditors in developing countries, limiting the borrowers’ options for crisis management, and complicating debt renegotiation.
Mobile network operator Safaricom has launched a 5G network in Kenya. This makes it the second country in Africa to roll out the technology to customers, according to GSMA, an organization representing mobile network operators worldwide. The company is trialling the technology in four towns, and expects to expand it to nine over the next year.
Africa continues to be the global leader in mobile money services, a position boosted by the Covid-19 pandemic, which forced people to turn to digital services as a safer transaction method than using cash.
In the Oscar-shortlisted Night of the Kings, a young man (Koné Bakary) is sent to La MACA, an Ivorian prison in the middle of a forest that’s ruled by inmates.
Kenya’s first Showmax original series is a police procedural and legal drama inspired by real-life crime stories, reviving debate and discussion around controversies that might have otherwise faded from the news.
The African health tech sector is booming, thanks in part to increased opportunities presented by the Covid-19 pandemic.
China is donating thousands of its vaccines to low- and middle-income countries, including in Africa, in what is viewed as a soft-power push to bolster its global influence.
Super Sema, a Kenyan animated superhero series that debuted on YouTube this week, follows the adventures of a 10-year-old girl who lives in a futuristic African world and uses powers fueled by STEAM—science, tech, engineering, the arts, and math—to save her village from a robot villain.
Internet shutdowns have become increasingly common in Africa to fight dissent and restrict protest action, particularly during elections or moments of economic crisis. For Tim Berners-Lee, the inventor of the world wide web, these actions are violations that the world cannot ignore.
