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Happening Africa looks forward to digital transformation

To support Africa's digital transformation, the World Group will invest $25 billion between now and 2030 and aims to mobilize $25 billion more from the private sector, says Kristalina Georgieva, Interim President of the World Bank Group. Njuguna Ndung’u, Former Governor, Central Bank of Kenya notes in one of his publications that, in 2018 and beyond, digitization will provide an important avenue for African economies to leapfrog not only financial development but also development across other sectors of the economy. There are infinite opportunities on the digital platform, and fintechs are working round-the-clock to develop and introduce new products here. However, these changes will benefit only those economies that embrace digitization, invest in the required infrastructure, and introduce commensurate regulatory technology. 

As per Njuguna digitization is transforming African economies in four major ways: retail payments systems, financial inclusion, sustainable business models, and revenue administration.

The continent is still facing challenges to provide the basics to its citizens. Agenda of development in Africa revolves around few simple perquisites such as the provision of electricity to all, developing efficient transport networks, modernization of agriculture practices, educating its people and enhancing manpower capabilities, provision of better water sanitation and health facilities etc.

Africa is happening, just here and just now! This live discourse brings stories, researches and opinions revealing Africa.


J.P. Singh
Updated: 22-03-2019 23:27 IST
Happening Africa looks forward to digital transformation

Educating the future of Africa Image Credit: Flickr

Key Updates


22-03-2019 11:27:55 PM

Republic Bank Ghana ties with Vodafone Ghana to deliver mobile cash services

Republic Bank Ghana ties with Vodafone Ghana to deliver mobile cash services

The renowned commercial bank in Ghana, Republic BankGhana has joined hand with Vodafone Ghana for the purpose of delivering mobile money cash services.

Republic Bank Ghana can now, with this exclusive association, hold on to funds generated from Vodacash transactions as deposits. It also has the opportunity to offer other products and services through the Vodacash platform. Read more...

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22-03-2019 10:41:07 PM

African Academy of Sciences forms autonomous unit to provide funds for research, innovation

African Academy of Sciences forms autonomous unit to provide funds for research, innovation

The African Academy of Sciences has formed an autonomous unit to help mobilize financial support for research and innovation, an official said on March 22.

The President of Kenya's Nairobi-based African Academy of Sciences (AAS), Felix Dapare Dakora opined that the Coalition for African Research and Innovation (CARI) will help bridge financing gaps in scientific research and innovations across the continent. Read more...

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22-03-2019 09:50:27 PM

Smartphone companies in Kenya face tough competition with entry of more Chinese players

Smartphone companies in Kenya face tough competition with entry of more Chinese players

Sometime back, when Kenyans wanted to buy a middle-end smartphone that has a larger screen, good camera, longer battery life and big storage capacity, they had to part with up to 20,000 shillings (USD 200).

Today, however, to get such a phone, one only needs between 80 dollars and 100 dollars, and Kenyans have Chinese phone makers to express gratitude. The entrance of Chinese brands in the east African nation's market has intensified competition not only amongst themselves but also with other brands making smartphones affordable. Read more...

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22-03-2019 09:29:24 PM

China govt plans to donate $800,000 to Cyclone Idai-hit Zimbabwe

China govt plans to donate $800,000 to Cyclone Idai-hit Zimbabwe

The government of China has declared that it is all set to pump out gigantic liquid cash of USD 800,000 in the form of emergency humanitarian assistance to Zimbabwe to assist the country in struggling its post-disaster period.

According to Guo Shaochun, Chinese ambassador to Zimbabwe, China will provide assistance in line with the need of the southern African country hit by Cyclone Idai. Read more...

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22-03-2019 09:01:44 PM

Angola govt works to reduce extreme poverty’s impact from 36 to 25 pct

Angola govt works to reduce extreme poverty’s impact from 36 to 25 pct

The government of Angola established as a priority to reduce the impact of extreme poverty from 36 percent to 25 percent, aiming for the improvement of the living conditions of at least three million citizens between 2018 and 2020, recently said that the minister of Social Action, Family and Woman Promotion, Faustina Alves. Read more...

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22-03-2019 08:40:26 PM

2.5 million of Angolans to benefit from water project-expansion: Minister

2.5 million of Angolans to benefit from water project-expansion: Minister

Ministry of Energy and Water (Minea) has announced ongoing several projects for the construction of new systems to expand water supply to 2.5 million of inhabitants, under the National Development Plan (NDP). Read more...

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22-03-2019 08:27:22 PM

Angola 's President João Lourenço reveals 52 pct of population has access to drinking water

Angola 's President João Lourenço reveals 52 pct of population has access to drinking water

Angola’s President, João Lourenço has put at 52 percent the number of Angolan population with access to drinking water in the country of almost 30 million inhabitants.

João Lourenço said that the country with abundant water resources faces a difficult situation of access to water in the southern region, particularly in the southern Cunene province. Read more...

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22-03-2019 07:16:46 PM

Zambia: Minister commissions Kashiba-Lukwesa Water Supply Project worth K16 million

Zambia: Minister commissions Kashiba-Lukwesa Water Supply Project worth K16 million

Zambia’s Water Development, Sanitation and Environmental Protection Minister, Dennis Wanchinga has commissioned Kashiba-Lukwesa Water Supply Project in Mwense District of Luapula province. Read more...

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22-03-2019 06:46:38 PM

Construction of Chinese firm-funded 3 solar power plants completed in Egypt

Construction of Chinese firm-funded 3 solar power plants completed in Egypt

TBEA Xinjiang Sunoasis has completed the construction of three solar power stations at Benban Solar Energy Park in Egypt’s southern province of Aswan.

“The project consists of three sub-projects, each with a capacity of approximately 62 megawatts,” Gu Huchen said adding that about 600,000 components were used in the projects. The projects, which TBEA started to build a year ago, are owned by Spanish renewable energy project developer Acciona and Saudi investment firm Swicorp, with an investment of around USD 180 million. Read more...

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22-03-2019 05:28:04 PM

Rwanda’s economy to increase by 7.8 pct in 2019, predicts IMF

Rwanda’s economy to increase by 7.8 pct in 2019, predicts IMF

The economy of Rwanda is projected to grow by 7.8 percent in the current year, International Monetary Fund (IMF) revealed recently.

Officials from the IMF have been in the country for the last two weeks engaging officials from the public and private sectors. They came across the Minister of Finance and Economic Planning at the conclusion of their mission in Rwanda, during which they presented their findings to the media. Read more...

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