Small and medium-sized enterprises (SMEs) across Africa continue to face tighter lending conditions, higher collateral requirements, and limited access to formal trade finance despite evidence showing that their credit risk profile has remained relatively stable. According to a new African Development Bank (AfDB) report released in Brazzaville on May 27, SME-related default rates, averaging between…
South Africa has the legislative foundation to respond to nation-scale cyberattacks but the practical capacity has yet to be realised. A wave of distributed denial-of-service (DDoS) attacks earlier this week disrupted connectivity across more than half a dozen South African hosting providers and internet specialists, including 1-grid, Xneelo, Network Platforms, Host Africa and Domains.co.za. Tens…
Africa is providing cheap liquidity to wealthy nations. In return it is paying huge interest rates to external institutional investors at the cost of its own development. For instance, African central banks export their reserve funds for safekeeping. Sovereign wealth funds and pension fund managers invest only in investment-grade European and United States institutions. The…
NAIROBI, Kenya, May 21-East African business leaders are calling on organizations to urgently scale up artificial intelligence (AI) adoption and workforce training, warning that companies that delay risk losing competitiveness in a rapidly evolving digital economy. The call was made during the East African Business Leaders Round Table convened by SeamlessHR and KPMG East Africa,…
AI Everything Kenya X GITEX Kenya opened Tuesday, May 19, at the Sarit Expo Centre in Nairobi, anchoring a wider East African conversation about who will build, fund and regulate artificial intelligence across the region as governments, investors and technology firms converge to stake their claim in Africa’s digital future. Powered by the 45-year legacy…
The opening of the iSchoolAfrica Coding and Robotics Centre at Igugu Primary School in Soweto, Gauteng, marks a decisive step toward closing South Africa’s digital divide, ensuring that learners in township schools are no longer left behind in the rapidly evolving world of technology. Higher Education and Training Deputy Minister, Dr Nomusa Dube-Ncube, joined iStore…
Doris Tshepe, commissioner at the Competition Commission. South Africa’s data prices remain below headline inflation, but still pose a barrier to digital inclusion and economic participation. This is according to the Competition Commission’s (CompCom’s) second Cost of Living (COL) Report, published yesterday. It shows how prices for basic goods and services have changed since 2020,…
African countries may miss out on the transformative benefits of the global artificial intelligence (AI) revolution unless urgent investments are made in critical infrastructure, the United Nations Economic Commission for Africa (ECA) has warned. In a report presented at a meeting of African ministers of finance in Morocco, the ECA said the continent’s more than…
Higher crude prices due to the disruption in the Strait of Hormuz have helped Russia earn more from energy exports. One nation that’s hoping to gain from the United States-Israel war on Iran is Russia, the world’s third largest oil producer. Higher crude prices due to the disruption in the Strait of Hormuz have allowed…
Boston Consulting Group (BCG), which empowers global organisations to grow and build sustainable competitive advantage, has released its latest report, revealing how Africa’s software and applications developer community is scaling fast at 21 per cent annually. The report however said although Africa currently has 4.7 million developers, and competing with regions such as Europe with…
