The African Leadership magazine is published by African Leadership (UK) Limited. The magazine focuses on bringing the best of Africa to a global audience, telling the African story from an African perspective; while evolving solutions to peculiar challenges being faced by the continent today.
African Leadership Magazine UK, a leading Pan-African publication that promotes innovation, entrepreneurship, and development in the continent, is set to unveil an exclusive list of Top 25 African Companies Doing CSR in Education, during the African Education Summit, billed to hold from the 2nd-3rd May 2019, in Washington DC. The Education summit with the theme: Engaging Partnerships and collaborations in Higher Education, is designed to among other things: Promote innovation and solution-driven partnerships to build a globally competitive higher education in Africa; Engage policymakers, education leaders and stakeholders, and international development institutions to present thought-leadership on the new African education landscape; Create an enriching global platform for stakeholders and practitioners to share their thoughts and perspectives on addressing the challenges in the rapidly changing political, cultural and educational landscape on the continent; Shape the narrative on Africa through dialogue, collaborations on improving research & development and innovative practices that improve on the impact of higher education systems and practices; and Promote and celebrate innovation and excellence in the educational sector.
During the event, a Special Edition of the African Leadership Magazine UK will be unveiled with a view to acknowledge and promote private sector-driven investment as well as the corporate social responsibility of indigenous and foreign organizations in Africa.
The Editor of the Magazine, Mr. Kingsley Okeke, while highlighting the importance of the exclusive listing, stated that, “education strikes at the core of African Leadership Magazine’s agenda for building the next generation of leaders that would lead the continent to the promise land, hence the need to promote those contributing towards the promotion of education in the continent.” He also added that “education equips the citizens with the requisite capacity to make informed decisions and contribute meaningfully towards changing the continent’s narrative.”
The listing which is arguably one of the most must exclusive list of Africa based companies and organization’s promoting education through CSR, presents a unique opportunity for the world to see those helping to reshape the continent’s future through education.
About African Leadership Magazine:
The African Leadership magazine is published by African Leadership (UK) Limited, a company registered in the United Kingdom. The magazine focuses on bringing the best of Africa to a global audience, telling the African story from an African perspective; while evolving solutions to peculiar challenges being faced by the continent today.
Since its maiden edition, African Leadership Magazine has grown to become a leading pan-African flagship leadership-focused publication read by over 1, 000, 000 targeted international investors, business executives, government policymakers, and multilateral agencies across Africa, the Middle East and Asia, Europe, and the US. It is distributed at major international and African Leadership events around the world. The magazine has over 900,000 subscribers/Followers on Facebook and a virile readership on other social media platforms. It is a niche and unbiased African voice born out of a desire to ameliorate a lot of Africans by focusing on individuals and corporate organization that is known for their legacy-based approach to leadership.
To commemorate Global Recycling Day today, The Coca-Cola Company is accelerating the collection and recycling of PET plastic bottles across Southern & East Africa. This is part of a focused World Without Waste campaign over three years and beyond.
The Company, along with its bottling partners and other industry partners across Southern & East Africa, will invest over US$38 million (approx. R545 million) to stimulate plastic recycling industries and educate people about what, how and where to recycle.
This is part of Coca-Cola’s commitment to fully participate in the solution to address the plastic pollution problem and to accelerate the implementation of its global World Without Waste vision, which aims to collect and recycle the equivalent of 100% of the packaging it sells by 2030.
“We have shifted our business priorities to ensure value is added to our post-consumer plastic bottles so that they don’t end up as waste. I like to think of it as creating a new currency with plastic – developing our bottles into valuable resources that can drive a green economy,” said Bruno Pietracci, President of Coca-Cola Southern and East Africa.
The campaign will fast track three pillars of the World Without Waste vision: Design; Collect; and Partner. The idea is to design bottles which are easy to recycle and are themselves made partly out of recycled material; create collecting opportunities by stimulating recycling industries; and partnering with others in the value chain to reduce plastic waste.
The campaign will focus on the following:
Expanding the PETCO model from South Africa to other African markets
In South Africa, PET plastic recycling is primarily driven through the PET Recycling Company (PETCO), which was established in 2004 with the help of industry players and The Coca-Cola Company. As a result of PETCO’s efforts, 67% of all PET bottles are collected and recycled in SA. This has created over 65,000 new income opportunities in the recycling sector.
Last year, with industry partners, Coca-Cola helped to launch the PETCO model in Kenya. Subsequently, 1,800 tonnes of PET bottles were collected and recycled in 2018, compared to 867 tonnes in 2017. The target is to accelerate this to 20,000 tonnes this year, and also to launch the PETCO model in Ethiopia and Uganda.
Increasing recycled PET content in packaging
Locally, the company has a goal to ensure that 50% of its primary packaging is made from recycled content by 2030. This will help to reduce the use of new (virgin) PET and help to close the loop on creating a green circular economy.
Currently, all Coca-Cola PET bottles in South Africa contain up to 25% of recycled PET (rPET) and later this year, the company aims to launch a new bottle under the Bonaqua brand made entirely out of previously used PET – 100% rPET – no new PET resin is used in the making of this bottle.
Using our brands, assets and packaging to educate consumers
One powerful way to reach recycling goals is through education and marketing. The company will start by using some of its brands and its labels to educate consumers about the small little actions they can take to add value to the local recycling industry and increase recycling rates.
For example, later this year, the company will remove colour packaging (green bottles to start with) from some of its brands. This is because clear or blue PET has more end-use applications by the recycling industry. Collectors also receive more money for clear or blue PET plastic than coloured – so if consumers reach for clear or blue bottles, they are helping collectors earn more money in a day.
Supporting community collection activities and businesses
The company will support more community clean-up activities as well as empower communities through basic business education to increase waste recycling infrastructure and job creation. Coca-Cola Beverages South Africa (CCBSA) Project Hlewkisa already empowers over 200 people and 10 buy back centres.
“We want to be part of the solution, so we have created an end-to-end approach to address waste throughout the entire packaging lifecycle. This Global Recycling Day we look forward to a future where we can work in partnership to create an Africa without waste, at the same time as creating jobs and educating people,” Pietracci added.
The company recently launched its global 2018 World Without Waste progress report, where you can read more about how Coca-Cola is designing its packaging differently, contributing to collection and recycling efforts, and partnering with stakeholders all around the world.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries and territories. In addition to the company’s Coca-Cola brands, our portfolio includes some of the world’s most valuable beverage brands, such as AdeS soy-based beverages, Ayataka green tea, Costa coffee, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We’re also working to reduce our environmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at Coca-Cola Journey at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.
A new overview of Morocco’s economy for 2019 from the Oxford Business Group has presented a positive view of Morocco’s plans to address unemployment and other issues challenging the country.
Despite increasing external debt, Oxford Business Group forecasted a flourishing future in Morocco’s economy, thanks to aeronautics and several other industries.
For Oxford, “a rapidly improving business environment and infrastructural base, the gradual liberalisation of the local currency and increased investment into export-oriented industries are all set to raise living standards and drive the emergence of a large national middle class.”
For this to happen, the report advised Morocco’s senior officials to put “more effort into overcoming entrenched socio-economic problems and stubborn unemployment.”
Morocco’s industrial plans might rescue youths
Socio-economic issues, like social disparities, migration, and unemployment, heavily impacted Morocco’s performance in recent years.
Protests across the country emerged in recent years, pointing out lack of job opportunities, lack of healthcare, scarcity of potable water, and a poor education system.
In 2016 and 2017, protests circled the Rif region in the north with protesters decrying social disparities. The protests were sparked by the death of a local fishmonger in Al Hoceima province who was crushed in a garbage truck while trying to save his goods that had been confiscated.
In 2017, demonstrations swept eastern Morocco after several informal mining workers died inside illegal mines. In the same year, locals in the southeastern desert city of Zagora protested water shortages.
The government addressed citizens in the aftermath of each protests by promising reforms and economic plans to curb socio-economic issues.
One of the plans created amid protests and unemployment was the Industrial Acceleration Plan 2014-2020.
According to the Ministry of Industry’s description, the plan focuses on aeronautics, seeking to offer 23,000 new jobs in the sector by 2020.
The strategy received applause in the report, calling it a “general strategy for industrial development that seeks to create 500,000 new jobs in various industrial sectors including automotive, agro-industry, textiles, aeronautics and fishing by 2020.”
“The programme, which started in 2014, created 52,376 jobs in 2016 and almost 90,000 in 2017.”
The report commented, “Authorities have also adopted a new National Plan for the Promotion of Employment in early 2018, which includes an emphasis on better education and training, as well as the organisation of a conference aimed at developing a national employment roadmap.”
A recent note from the High Commission of Planning (HCP) noted a decrease in unemployment rate. HCP said that the rate dropped from 10.2 percent to 9.8 percent between 2017 and 2018. The commission said that Morocco’s economy created 112,000 jobs, 91,000 in urban areas and 21,000 in rural areas.
Despite the slight progress, Moroccans, especially young people, complain of unemployment.
The Oxford report said unemployment “remained elevated yet stable in recent years, despite the uptick from 9.9% in 2016 to 10.2% in 2017.”
Gaps in unemployment rates between urban, rural areas
Like other international and local reports, the Oxford Business Group found a gap in the rate of unemployment in urban and rural areas, with “the former standing at 14.3% in the third quarter of 2018, compared to 3.9% in the latter.”
The report also took into account age, recording that the youth unemployment rate is 27.5 percent.
“The kingdom suffers from underemployment, and 9.7% of the working population is underutilised.”
Oxford also mentioned Morocco’s plan to ensure employment for youth through vocational training.
Last year, King Mohammed VI urged the government to use vocational training as a tool to fight unemployment.
“Vocational training is a powerful lever for employment, provided it receives the attention it deserves and as long as it is given a new status as well as a broader scope,” King Mohammed VI said on October 12, 2018.
Describing vocational training as a priority, the report said: “Plans for legal reform in the sector and efforts to improve vocational training are currently under way to ensure that the skills of young Moroccans better match the needs of the private sector.”
Promoting economy via investment in industries: Successful strategy
Trade, international corporations, aeronautical and automotive sectors are at the heart of Morocco’s strategy to ensure a better business performance.
The outlook of the report said that Morocco’s plans to promote economic development through investment “has witnessed success, in particular in the automotive and aeronautics sectors.”
Oxford said that industry contributed an average of about 19 percent to GDP, and “in 2017 this increased, raising the sector’s contribution to around 25% of GDP.”
Oxford also forecasted an additional growth of 5 percent in the sector by 2022.
MultiChoice Namibia has launched the MultiChoice Talent Factory (MTF) online portal at its headquarters in Windhoek.
The online portal is the third touch point of the initiative after the launch of three regional MTF Academies in West, East and Southern Africa.
The MTF portal makes part of the investment MultiChoice has made to improve the quality and support the production of local content and storytelling across the continent.
According to the director, Cheryl Uys-Allie, the MTF portal will serve both seasoned professionals and aspiring talent in Africa’s film and TV industry.
“With increasing cross continental coverage, filmmakers are looking for networks beyond their own borders.”
“As a producer in Nigeria, it is exciting to know it is possible to co-produce in Angola for example with access to local talent and production partners. The Portal is made for mobile and is therefore accessible to any filmmaker anywhere in the world,” she said.
MultiChoice is an Africa’s leading entertainment company, which create and distribute content through Direct To Home, Digital Terrestrial Television and online video entertainment services.
Ericsson, in partnership with the Ministry of Communications and Information Technology in Egypt, is organizing a competition on the use cases of 5G and IoT in the digital city. The competition aims to give young students and graduates in Egyptian universities and youth centers in the fields of communications, electronics and computer science the opportunity to develop 5G, helping in the Egyptian market based on the latest digital technologies, in addition to developing a special application on the Ericsson accelerator.
The competition will begin this week in Ain Shams University. As part of the 21-week competition, 20 teams representing 15 teams from 4 universities including Cairo University, Ain Shams University, Alexandria University and University of Al Mina. In addition, there will be 5 teams from youth community centers from different cities in Egypt. Each team will have 3 to 5 members working during the competitive to be creative and develop their critical thinking skills, which will be evaluated by the judging panel.
The competition will motivate the youth to come up with ideas about the fifth generation technology and Internet of Things to suit the needs of the Egyptian market, develop local talents and prepare them for future technologies. In addition, the initiative will be useful in developing business potential in Egypt.
Advisor to the Minister of Communications and Information Technology, Dr. Abeer Shakwair, stated that: “This competition comes within the framework of the Ministry’s orientation to serve the Egyptian society and to transform into an inclusive society in partnership with various companies through its community responsibility. Community to ensure that they are integrated with university youth in the competition to develop their abilities and skills”
“Ericsson is a leader in the digital transformation to fifth generation technology,” said Sameh Shoukry, Head of Ericsson Egypt. “There is an immediate need to develop critical talent in digital technology transfer not only in Egypt but also globally. For students who have a special vision for information and communication technology. In this competition, they are taking advantage of their leadership in innovation to enhance the talent that next generation technology needs in the near future. “
At the end of the competition, three teams will win valuable prizes. Three of the teams will receive summer training at Ericsson Egypt. Another team will have a specially designed training at Ericsson. Another team will be awarded a special award by the Ministry of Communications and Information Technology Assistive Technology is based on the empowerment and empowerment of persons with disabilities through the Empowerment Competition.
One of the important components of the decision of which project to take is the business impact of the project. Therefore, understanding the impacts of different projects undertaken by the government on economic development doesn’t need a degree in economics; simple reasoning ability and basic economics can be a good litmus test to give you the big picture of what is happening towards achieving sustainable economic development.
We all know that most African countries, including Tanzania, largely depend on agriculture for economic development. This sector provides employment where more than 80% of rural livelihood is employed in this sector; the sector provides food, export earnings and inputs for local industries.
Moreover, industrial development is equally important as agricultural development, our country needs industries which will add value to our agriculture products, finished products for our people and export to earn foreign currency as well as job creation.
The two sectors are very strategic in our economy; therefore for them to contribute significantly to national development there must be strategic projects to feed the two sectors of the economy. These projects should aim at making available good infrastructures like road, ports, railways, irrigation system, and communication, electricity, and warehouse buildings which are most important for these economic sectors.
Studies indicate that transport cost for finished product contributes about 40% or more of the final consumer price. This means that, if orange is sold at Tsh 200/= at the market then Tsh 80/= or more was used to transport this orange from the farm to the market. In some part of Africa according to the World Bank report of 2017, the transport cost is higher than the commodity price. This also goes to transport cost for individuals within the country and in the East African region which is four times higher than other regions in Africa. Sometimes to fly from one country to another one in African is relatively easy and cheaper to pass through Europe or Asia than within the continent.
This problem is serious to the extent that, you can find some district in Tanzania facing the acute shortage of food while farmers in another district have a huge surplus of food rotting for lack of market and preservative measures.
Therefore, transportation for our agricultural products and finished products from our industries is one of serious challenge within Tanzania and Africa in general. Within Africa, the problem is even more serious to the extent that moving goods from Tanzania to Nigeria is more expensive than moving goods from Tanzania to the UK.
The second challenge is reliable electricity for our processing industries, preservation of agricultural products through refrigeration or using cold rooms to prevent post-harvest which is stated to reach more than 40%. This means if you harvest 200 Tonnes of oranges 80 Tonnes are lost, this is one of the reason most of the small scale farm holders have remained in poverty.
Under President John Magufuli administration, the strategic projects on road construction, power production and transportation and others have been given highest priority in order to boost the economy of most of Tanzanian and the neighbouring countries from the two strategic economic sectors and other sectors of the economy like the service sectors. For example in the service sector, tourist attraction which is difficult to replenish depends on infrastructures like the road to access tourism attraction in Tanzania like MT Kilimanjaro, Serengeti, Mikumi, Manyara, Ruaha, Zanzibar and other attractions in Tanzania.
Currently, Tanzania has invested $ 1.9 billion in SGR, $ 3.6 billion in the construction of 2.1 GW hydropower project named Stiegler’s Gorge, billions in the revival of the national airline ATC $421 million in Dar Es Salaam port expansion, and billions on other related projects not mentioned. Most of these projects have been locally financed with a little loan from developing partners. The projects are contributing while still in the construction phase and once finished these projects will bring significant impact not only Tanzanian economy but also other regions in the continent.
Tanzania is slotted on the need for a high level of development in 2018 Electricity Regulatory Index. Therefore, such requirement need development of various energy mixes, the current construction of hydroelectric power which will produce 3,780MW will double the electricity production in the country and make a total of 5,293.3MW. The energy which will be produced will boost the industrialization sector, the agricultural sector as well as the service sector in our economy.
Despite the direct contribution to strategic sectors like agriculture and industrial sectors, these projects have a significant indirect contribution to other sectors. The income generated from these projects are outputting in the economy of the country, those folks employed directly in these projects like, business industry including supply industries, service industries and other industries are earning wages and profits. It is estimated that the project like SGR has offered more than 600,000 jobs and Stiegler’s Gorge is expected to offer more than 5,000 jobs. The income will remain in the circulation of the economy thus increasing our GDP. The wages and the profit will also benefit other folks indirectly through what is called ” multiplier effect” because injection of new demand for goods and services into the circular flow of income stimulate further rounds of spending. These projects employ people who will rent the houses around the project area, eat food, buy clothes and use the money they have generated to acquire other social services within the country.
It is because of these huge investments mostly located in infrastructure development now we are witnessing the farmers to have access to the market networks, through network of roads, soon we will have sufficient electricity to preserve the perishable agricultural products, warehouses facilities of agricultural outputs, food sufficient over 95% and agriculture being first in export earning contribution. The country now is ranked first among the fastest growing economy in East Africa. Therefore if everything goes as planned; we will not just witness our living standard change to a better one but also realize our country to be one of the middle-income countries before the end of 2025.
Today, the National Basketball Association (NBA) and YouTube announced the launch of the NBA’s first YouTube channel dedicated to fans in sub-Saharan Africa. In addition to featuring two live games per week in primetime for the rest of the 2018-19 season, including the Playoffs, Conference Finals and The Finals, the NBA Africa YouTube channel will celebrate the impact of African players in the NBA. The channel will also showcase the league’s long history of growing basketball at all levels across the continent and using the game as a platform to inspire and empower African youth.
The first two live game broadcasts on the new NBA Africa YouTube channel will take place on Sunday, March 24 and will feature the Charlotte Hornets hosting the Boston Celtics at 12:00am (CAT) followed by the L.A. Clippers visiting the New York Knicks at 6:00pm (CAT).
The channel will feature original and archived programming, including a collaboration with Africa-based YouTube creators on original content, a customized weekly magazine show and NBA documentaries featuring current and former African players and legends.
“The NBA Africa YouTube channel is yet another important milestone for the NBA in Africa and will allow more fans to access our games, live and on demand, across the continent,” said NBA Vice President and Managing Director for Africa, Amadou Gallo Fall. “As we enter the home stretch of the NBA season and teams fight for playoff positioning, we look forward to bringing the excitement of the NBA to more fans in sub-Saharan Africa while celebrating the NBA’s rich history and bright future in Africa.”
“From inception, YouTube has been a hub for fans to catch up on moments and coverage from their favorite sports,” said Manager of YouTube Partnerships in Africa, Dayo Olopade. “We are delighted to be partnering with the NBA to bring the action and inspiration of basketball to our audience in Africa. We hope NBA fans on the continent enjoy watching the live games and commentaries on YouTube.”
The NBA has a long history in Africa and opened its African headquarters in Johannesburg, South Africa in 2010. Opening-night rosters for the 2018-19 NBA season featured 13 African-born players, and there are more than 80 current and former NBA players from Africa or with direct family ties to the continent, including Naismith Memorial Basketball Hall of Famers Hakeem Olajuwon (Nigeria) and Dikembe Mutombo (Democratic Republic of Congo).
Last month, the NBA and FIBA announced their plan to launch the Basketball Africa League (BAL), a new professional league featuring 12 club teams from across Africa. The BAL will build on the NBA’s existing grassroots and elite basketball development initiatives on the continent, including the Jr. NBA, Basketball Without Borders (BWB) Africa and The NBA Academy Africa.
Since The NBA Academy Africa opened in May 2017, 25 elite male prospects ages 14-20 have received scholarships and training after scouting programs conducted with local federations across the continent. Three NBA Academy Africa graduates have gone on to commit to NCAA Division 1 schools.
The NBA has held three sold-out Africa Games, in Johannesburg in 2015 and 2017 and in Pretoria in 2018, in support of charities including UNICEF, the Nelson Mandela Foundation and SOS Children’s Villages South Africa (SOSCVSA). Through NBA Cares, the NBA has created 87 places for children and families to live, learn and play in seven African countries.
Ghana Stock Exchange (GSE) is partnering with IFC, a member of the World Bank Group, and over 70 other stock exchanges around the world to “Ring the Bell for Gender Equality”, an initiative that will seek to promote increased women’s participation in the global economy to catalyze sustainable and inclusive private sector growth.
Accelerating the pace of reforms to ensure gender equality could yield enormous benefits, with the potential to increase global gross domestic product by $12 trillion in the next six years, according to a McKinsey Global Institute report.
“The business case is compelling and IFC research has recently highlighted that correcting gender imbalances could lead to important economic gains in developing countries,” said Ethiopis Tafara, IFC Vice President & General Counsel, Legal, Compliance Risk and Sustainability. “Failing to tap into all human capital represents a significant lost opportunity to boost growth,” he said.
Examples include increasing the flow of private equity and venture capital to women-owned businesses in emerging markets beyond the current 7 percent and accelerating the pace of women ascending to board and senior leadership positions.
The 2019 Ring the Bell for Gender Equality marks the fifth year of the partnership, which encourages participating stock exchanges to signal their commitment to gender equality by advocating for better gender balance and prioritizing diversity in their own corporate structures.
This can include implementing women-friendly workplace policies, developing female-oriented investment products, reporting to shareholders on diversity practices, encouraging or requiring listed companies to disclose gender metrics, and increasing the number of women on their boards and in senior leadership.
“Stock exchanges represent a powerful alliance to push for equitable economic opportunities and promote gender equality as part of a broader emphasis on environment, social and governance issues,” said Mary Porter Peschka, Director for ESG at IFC. “As business leaders, entrepreneurs, employees and consumers, women are fundamental to inclusive growth,” she said.
IFC’s support for gender-smart business solutions include working with companies in developing countries to generate opportunities for women that also contribute to the bottom-line. The institution leverages its relationship with over 2,000 financial institutions and private equity funds to expand access to finance for female entrepreneurs.
It also promotes good corporate-governance practices such as board diversity. IFC has over 30 percent female representation among nominee directors on the boards of its own investee companies today and aims to increase that rate to 50 percent by 2030.
The “Ring the Bell for Gender Equality” event is a partnership of IFC, Sustainable Stock Exchanges Initiative (SSE), UN Global Compact, UN Women, Women in ETFs, and the World Federation of Exchanges.
Africa is judiciously positioned to be the next big mobile market, enviously eyed by global investors for her enormous growth opportunities. 2019 is undeniably the year to prioritize investments in Africa’s mobile market, to leverage this monetary opportunity.
According to a Mobile Report for Africa released by Jumia, Africa’s leading e-commerce platform, the continent’s real output growth is expected to reach 4.1% by the end of 2019; from an estimated 3.5% in 2018. The growth is expected as a result of improvement in macroeconomic conditions in the continent.
The Mobile Economy contributed USD 110 billion to Africa’s GDP (7% of the total GDP) in 2017 and is expected to generate more than $150 billion (approximately 7.9% of GDP) by 2022. The mobile technologies and services industry further supported 3 million jobs in 2017.
A growing population of 1.28 billion people (42% of which are in cities), a snowballing middle class expected to reach 1.1 billion out of the 2.5 billion Africans by 2050 – leading to a higher purchasing power – are among the considerations for Africa’s mobile explosion.
Other factors that have driven much of Africa’s growth in mobile subscriptions include more affordable smartphones, declining mobile data plans, the efficiency brought about by smartphones including online shopping/purchases, mobile payments as well as searching for information.
Nevertheless, the growth of mobile will remain uneven, as the 54 African countries record varying performances, both in their respective mobile markets and the entire economies.
Booming number of smartphones in Africa
In 2018, Africa had 255 million smartphone connections, which is equivalent to 36% of the total population. This is against a 444 million mobile subscriber base in the continent by 2017. By 2025, there are expected to be approximately 690 million smartphones in Sub-Saharan Africa, equating to a connection of about 66%.
Although affordability of the smartphone has been quoted as a major challenge for a part of the population, Jumia – Africa’s leading e-commerce platform – has reported a decreasing average price of smartphones over the last three years. The average amount spent to purchase a smartphone on the platform in 2016 stood at 99 USD, which reduced to 96 USD in 2017 and 95 USD in 2018 respectively.
However, the rise of affordable entry-level devices from price-focused brands remain a key driver of smartphone adoption in Africa. Among the top mobile brands on Jumia in 2018 included Infinix (which has been thee top brand for the last three years), Samsung, Xiaomi, Tecno and Fero.
Besides, while affordability of mobile data in Africa is improving across the board, the cost remains high, with the price of 1GB averaging around 8.76% relative to monthly income in 2017.
Sub-Saharan Africa is experiencing a high migration rate to mobile broadband-capable connections, with 5G connections expected to launch in Africa in 2021. In 2018, 4G stood at 6%, 3G at 35%, while 2G dominated at 59%. By 2025, 5G will account for 3% of the total connections, while 4G will rise to 24%. 3G will be dominant at 59%, and 2G will have dropped to just 14% of the total connections.
Exim Bank on March 19 said it has given a loan of $83.11 million to Congo to finance three solar power projects in the central African country. Export-Import Bank of India (Exim Bank) has, on behalf of the government, extended three lines of credit (LOC) aggregating $83.11 million to the government of Congo, it said in a release.
The loan will be utilised for financing three solar photovoltaic power projects with a total capacity of 35 megawatt in the three provinces — Karawa, Mbandaka and Lusambo. The LOC agreements to this effect were exchanged between Ambassador of Congo to India Mossi Nyamale Rosette and Exim Bank Managing Director David Rasquinha during the 14th CII-Exim Conclave 2019.
“With the signing of these three lines of credit for $83.11 million, Exim Bank, till date, has extended 10 LOC to the government of Congo on behalf of government of India, taking the total value of LOCs extended to $578.05 million,” it said.
Projects covered under the LOCs extended to Congo include hydroelectric power projects, power transmission and distribution projects, cement plant, hand pumps and submersible pumps installation, and solar power projects. With this line of credit, Exim Bank said, it has now put in place 244 LOCs covering 63 countries in Africa, Asia, Latin America and the CIS with credit commitments of around $23.43 billion available for financing exports from India.