Sub-Saharan Africa records 2.4% economic decline, worst recession in 60 years – World Bank

SSA – The economic output of economies in Sub-Sahara Africa declined by 2.4% in 2020 due to the COVID-19 pandemic, the region’s first economic contraction in a generation and the deepest recession since the 1960s, latest World Bank reports indicates.  However, the recession was milder than previously projected as the virus spread more slowly than anticipated and agricultural activity was unexpectedly intense in some countries such as Benin, Ethiopia, Kenya, Nigeria. According to the June 2021 issue of the  Global Economic Prospects Reportby the World Bank, growth in the Sub-Sahara region has…

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E-commerce booms in South Africa, Nigeria and Kenya – Visa

SSA – Report by global payments solution company Visa, shows that over the last three years, South Africa, Nigeria and Kenya have maintained their positions as the top three market contributors to e-commerce in the Sub-Saharan Africa region. In 2020, West African nation Ghana also broke ground, tied in third place with Kenya. The report dubbed “E-commerce developments across Sub-Saharan Africa” white paper, highlights Sub-Saharan Africa’s steady growth potential, despite it being one of the smallest regions for e-commerce globally. Visa’s research reveals that during the COVID-19-induced lockdown, Sub-Saharan Africa…

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Africa’s aviation sector recorded US$10b loss in 2020 on dwindling passenger numbers – AFRAA

AFRICA – The aviation industry in Africa recorded a passenger revenue loss of about US$10.21 billion for the year 2020, with passenger numbers dropping from 95 million in 2019 to 34.7 million in 2020, representing a year-on-year decline of 63.7 percent. The African Airlines Association (AFRAA) published its impact assessment analysis in June 2021, giving an in-depth analysis of the continent’s air industry performance for 2020, showing that the carriers will continue to lose money in 2021, although it is expected to reduce to about US$8.35 billion. From the end…

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Africa data center market to reach US$5b by 2026 – Research and Markets

AFRICA – The Africa data center market size by investment was valued at US$2 billion in 2020 and is expected to reach US$5 billion by 2026, growing at a compounded annual growth rate of 15% during 2021-2026, a report by Research and Markets indicates. The data center market expects to observe growth because of the flurry of factors – renewable power availability, smart city initiatives, and increased support for the digital economy. Egypt, South Africa, Kenya, Morocco, and Ethiopia are actively working toward improving the share of renewable energy in…

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Aviation traffic in Africa sank 73.7% in March 2021 – IATA

AFRICA – The International Air Traffic Association (IATA) has announced that passenger traffic fell in March 2021 compared to pre-COVID 19 levels in March 2019 but rose compared to the immediate month prior to February 2021. The comparisons were done that way because between 2021 and 2020, monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted all comparisons are to March 2019, which followed a normal demand pattern. Total demand for air travel in March 2021 (measured in revenue passenger kilometres or RPKs) was down 67.2%…

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Kenyan start-ups lead their peers in Africa with record funding – Disrupt Africa

KENYA – The entrepreneurial spirit amongst the Kenyan start-ups has manifested itself  going by the large funding rounds from international investors and institutions they have attracted. Between 2015 and 2020, for example, investments in the country increased to US$241 millionSh26 billion from US$193 million, representing a 27.3 percent of the continent’s total investment. Nigeria came second with US$151 million followed by South Africa US$144 million, Egypt US$143 million, Ghana US$20.4 million and Morocco at US$10.2 million. “This is the largest amount of funding ever achieved by a single country. The…

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Global e-commerce jumps to US$26.7 trillion, Covid-19 boosts online retail sales – UNCTAD

WORLD – According to a new  report by United Nations Conference on Trade and Development (UNCTAD), online retail sales grew markedly in several countries, with the Republic of Korea reporting the highest share at 25.9% in 2020, up from 20.8% the year before. Meanwhile, global e-commerce sales jumped to US$26.7 trillion globally in 2019, up 4% from 2018, according to the latest available estimates. This includes business-to-business (B2B) and business-to-consumer (B2C) sales and is equivalent to 30% of global gross domestic product (GDP) that year. “These statistics show the growing…

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Huge potential for e-commerce growth in African markets – PayU

AFRICA – While South Africa, Nigeria and Kenya have the highest internet penetration in the continent, e-commerce penetration was at less than 40 percent, a report by PayU, a payments company has found. Among the three African countries included in the report, South Africa had the highest internet penetration at 56 percent, with Nigeria and Kenya at 46 percent and 31 percent respectively.  However, the report shows that e-commerce penetration was at 37 percent in both Nigeria and South Africa and at 25 percent in Kenya. The report by PayU…

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Global renewable energy capacity highlights for 2020

WORLD – According to International Renewable Energy Agency (IRENA) report, at the close of the year 2020, global renewable generation capacity amounted to 2,799 GW with hydropower accounting for the largest share of the global total, with a capacity of 1,211 GW. Wind and solar energy accounted for equal shares of the remainder, with capacities of 733 GW and 714 GW respectively while other renewables included 127 GW of bioenergy and 14 GW of geothermal, plus 500 MW of marine energy. In the same year, renewable generation capacity increased by…

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African cities demonstrate progressive leadership in renewables deployment – REN21

AFRICA – According to the 2021 edition of REN21’s Renewables in Cities Global Status Report, one billion people live in cities with a renewable energy target or policy and the number of cities that have enforced partial or complete bans on fossil fuels jumped fivefold in 2020. In Sub-Saharan Africa, the report shows that despite many challenges, city governments across the region have taken important steps to advance the deployment of renewables. Africa’s urban population increased more than 16-fold between 1950 and 2018, from 33 million to 548 million, and this…

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