National Bank of Ethiopia
Source: How We Made It in Africa
In June 2018, Ethiopia’s new prime minister Abiy Ahmed survived an apparent assassination attempt. The attack was not entirely surprising. Ahmed has been ruffling quite a lot of feathers. He purged the military hierarchy, instituted reforms at businesses owned by the military, and signalled the liberalisation of crucial sectors like banking and telecoms; if not for anything else, to ameliorate a perennial foreign exchange shortage.
The Importance of the Kenyan Elections for Kenya and East Africa
General elections were held in Kenya on 8 August 2017 to elect the President, members of Parliament and devolved governments. The reported results indicated that incumbent President Uhuru Kenyatta and his Jubilee Party were re-elected with 54% of the vote.
Hot on the heels of China’s US$1tn Belt and Road Initiative (BRI) Conference earlier in May, Indian Prime Minister Narendra Modi launched an equally ambitious ‘Asia-Africa Growth Corridor’ (AAGC) at the India-Africa Summit in Ahmedabad. The continental project, unmistakably a challenger to the BRI’s forays in Africa, will be developed in consultation with think tanks from India, Japan, Singapore and Africa, and will draw funding from India and Japan. The wooing of Africa and the range of options now available to African economies demonstrate their growing leverage on the global stage.
There are various examples of companies doing thriving business in Africa’s rural areas. Through innovative sales, marketing and distribution tactics, they are overcoming common rural challenges such as under-developed infrastructure and low purchasing power. This report examines some of the strategies companies have employed to capture the opportunities in the continent’s hinterlands.
More than 640 million Africans, or about 60% of the continent’s population, don’t have access to reliable and affordable grid-connected electricity, and are therefore dependent on energy sources such as kerosene, charcoal and diesel. Likewise, many businesses also suffer from poor power supply. For example, it is estimated that some 95% of the mobile tower sites in the continent’s off-grid regions run on inefficient diesel generators, which significantly drive up costs.