The transport sector in Nigeria represents about 24% of in-scope carbon emissions every year. And 72% of these emissions come from passenger vehicles. As the fuel price hits historic highs, commuters are starting to feel the pinch of increasing transport fares. The typical Nigerian commuter already spends up to 40% of their income on transport. …
Zimbabwe’s economy is a regular customer in the mainstream media today. Not many African countries get the amount of coverage it gets. And each time it gets reported on, two forces have stayed constant: hyperinflation and a weakening local currency. Every major policy and event has some link to these two. Implications mentioned usually point …
On the 29th of May, 2023, Nigeria was thrown into a frenzy. The newly elected president, Bola Ahmed Tinubu had just announced the abolishment of the age-long fuel subsidy which has kept fuel prices at reasonably low prices for Nigerians. Fuel subsidy has become unsustainable and has thrown Nigeria into a debt burden. Post announcement, …
Most people come into crypto wide-eyed and excited about the lucrative opportunities awaiting them. While it is true that there are money-making opportunities, some people get frustrated along the line and tap out. You can make money in crypto, but some have the wrong ideas about the process and interpret it as a ‘get-rich-quick’ scheme. …
Here are three big stories from Africa’s business landscape you (probably) didn’t miss but should keep in mind this week: CBN’s new transaction limits Last week, the Central Bank of Nigeria (CBN) introduced new transaction caps for contactless payments, in a bid to revolutionize the payments landscape in the country. Under the new regulations, contactless …
What is African tech’s biggest challenge? This question seems so simple, yet is often missed. Every time you read an article talking about the prospects of African tech, there’s a section mentioning its challenges. These “challenges” sections often look so similar that they start to sound cliche after a while. They are not wrong, but …
Currency volatility is a major problem for foreign businesses in many African economies as it puts them at risk of losses. Two things happen when foreign companies lose confidence in the exchange rate of any market they operate in. They either leave the market or change their business model to suit the prevailing market conditions. …
Sterling One Foundation and the African Venture Philanthropy Alliance have announced the upcoming ASIS 2023 Deal Room to be held on August 11, 2023, in Lagos, Nigeria. It aims to connect social impact enterprises with potential investors for funding opportunities. The deal room, managed by the African Venture Philanthropy Alliance (AVPA) alongside other technical partners …
Members of medical aid schemes may already get notices in the mail about 2023 contribution hikes. You can always move to a different plan if you think the increase is too much, but you should be sure to compare like plans. The Council for Medical Schemes issued recommendations earlier this year, recommending that medical plans …
“Treasure hunts make much better stories when there’s [actually] treasure at the end.” – Eric Berlin. E-commerce is one of the most widely adopted tech sectors in Africa. Since Jumia emerged as Africa’s first unicorn in 2016, many more businesses have emerged to cater to the market. However, one challenge has lingered: profits are hard to …