New data from Kenya’s State Department for Micro, Small, and Medium Enterprises (MSMEs) has shown that default rates for loans from Kenya’s “Hustler Fund,” a government initiative which allows citizens to access credit at cheaper rates than commercial banks, now surpass 50%. President William Ruto launched the fund in a

Vast swathes of Sudan face famine on a scale the world has not seen in decades. The war, which pits the Sudanese Armed Forces (SAF) against a paramilitary group from the western region of Darfur known as the Rapid Support Forces (RSF), has devastated the country’s industrial base. The central

Transsion is in the throes of a major push into other emerging markets as it battles with growing competition from Chinese rivals and legal pressure over alleged intellectual property violations. Nicknamed the “King of Africa” for its dominance of the continent’s smartphone market, the company got its start in a

The Forbes International Tower, a 240-meter-tall office building due to be constructed close to the Iconic Tower — Africa’s tallest building — was planned from the outset to be environmentally conscious. The building marks the latest chapter in net-zero architecture, following the likes of Foster + Partner’s Z6 tower in

Pravin Gordhan’s 50 years of public service in South Africa took him from a young anti-apartheid activist to a determined taxman and finance minister, and eventually a central figure in the battle against State Capture, standing strong despite relentless challenges and attacks. DAILY MAVERICK

In light of Africa’s burgeoning interest in AI, Ventures Africa recently interviewed Peko Wan, the co-CEO of Pundi X, a company at the forefront of making cryptocurrency accessible across the globe, including in Africa. With over 15 years of experience in the IT industry and a track record of success

Ghana is one of the world’s gold hotspots. It is Africa’s largest producer of gold, and it ranks sixth globally. In 2023, 4 million ounces were produced. It is essential to Ghana’s economy, contributing around 7% of gross domestic product. However, a form of mining known as artisanal, illegal or

It is “a critical step in taking advantage of future technologies to develop homegrown innovation that addresses local challenges,” Nigeria’s digital economy minister Bosun Tijani, whose office will supervise the fund, said. He recently published a draft of the country’s national AI strategy, a document produced after a year of

The European nation says it will open the doors to 250,000 skilled and semi-skilled Kenyan workers in a controlled and targeted labour migration deal. Kenya is struggling with increasing difficulties in providing work and sufficient income for its young professionals, while Germany is facing a shortage of skilled labour. Germany

According to Androidauthority, the cheapest handset can be purchased in China, Japan and the United States at $842, $877 and $879 respectively. Those prices in Nigeria, will, however, still fall under the “very expensive” category due to the low purchasing power parity and foreign exchange crisis which has greatly influenced