Africa: Paving the Way for Digitizing Africa's Economy
February 23, 2024--Africa is the continent with more than 1.2 billion people, endowed with rich natural resources among others, vast arable land, livestock, mines, rivers, oceans and lakes with their marine life. However, though it is rich with such resources, the continent is unable to exploit the resources fully due to lack of technology, finance and well trained man power. |
As the result, it has remained one of the pauperized in the world. Africa has only three percent share on the world trade. It mainly exports mines, crude oil and livestock in their raw form to the foreign market and obtains small amount of hard currency which doesn't cover its imports' bill which again leaves it in negative trade balance. |
South Africa: African Development Bank Country Focus Report highlights urgent need for economic transformation as GDP growth remains subdued July 4, 2025-African Development Bank calls for strategic reforms to unlock South Africa's $3 trillion capital potential
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Africa's Trade Projected to Hit $1.5 Trillion in 2025 July 1, 2025--Trade is set to expand at an average of 5.1 per cent a year through 2026, before quickening to 5.4 per cent by 2028. |
National stock exchange launched in Somalia June 26, 2025-The National Securities Exchange of Somalia (NSES) held its formal launch on 19 June 2025, according to this report on Xinhua. A coalition of local investors and financial experts established the exchange and it will start by operating as a private, self-regulatory organization, according to a statement issued in Mogadishu. The Central Bank of Somalia has pledged full technical support with the aim of ensuring international best practices are followed. |
East Africa's regional 20 share index June 24, 2025-The National Securities Exchange of Somalia (NSES) is joining the Somali Stock Exchange as a member of the East African Securities Exchanges Association (EASEA), which brings together the exchanges of Kenya, Rwanda, Somalia, Tanzania, Uganda and Ethiopia, as well as Burundi when that exchange will be launched. |