Category: Reports

CleanTech Drives FDI Flows to Africa

Africa’s CleanTech landscape is experiencing an unprecedented boom, fueled by a combination of abundant renewable resources, a growing green consciousness, and significant international investment.

But clean energy investments remain concentrated in just a handful of countries while much of the continent’s clean energy potential remains untapped. The IEA estimates that Africa requires $2 trillion in investment to close this gap.

Foreign investors are keenly aware of this opportunity. In 2022, the sector led foreign direct investment into Africa, according to the Africa Attractiveness Report by global consulting giant EY, further cementing the technology industry’s central role in driving investments into the continent.

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December 10, 2023
Africa’s Millionaire Population Set For Decade-Long Boom

Not all Africans are poor. This is arguably the key takeaway from the 2023 edition of the annual Africa Wealth Report by London-based Henley & Partners and New World Wealth, which challenges the common stereotype that Africa is uniformly poor.

The study, a definitive guide to African wealth, takes a close look at private wealth on the continent. Africa’s wealth is concentrated in five key markets: South Africa, Egypt, Nigeria, Kenya, and Morocco but their dominance could potentially be challenged by emerging economies like Mauritius and Rwanda, which could see a potential shift in the dominance of these wealth markets over the next decade.

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November 5, 2023
Global Investments Unlock African Real Estate Opportunity

Urbanization has already reshaped many parts of the globe, and Africa is on the brink of embarking on this transformation. Cities like Cairo, Lagos, Luanda, Dar es Salaam, Nairobi, and Addis Ababa collectively house more than 65 million residents. By 2030, the combined population of these bustling African cities is projected to reach 100 million. In addition, sub-Saharan Africa’s population is surging at a rate of 2.7% per annum and by 2050, Africa’s population will reach 2.4 billion.

This impending population boom is poised to create a plethora of investment opportunities in the real estate market, as Africa’s metropolises enter their next phase of growth. A report by Knight Frank, a global real estate consultancy firm, explores the sector in more detail and highlights five stand-out investment opportunity areas.

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October 29, 2023
African Fintech Startups Could Generate $30Bn By 2025

Africa’s fintech industry is thriving, driven by several trends including rising venture capital investments and increasing smartphone adoption on the continent. Fintech penetration in some African countries exceeds global markets and players generated revenues of around $4-6 billion in 2020, a figure that could potentially hit $30 billion by 2025.

Revenues in the financial services sector at large could grow at about 10% per annum to $230 billion by 2025. A McKinsey report examines how fintech players are carving out a share of this expanding market and what the future could look like for these innovators.

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October 22, 2023
West Africa Drives Global Mobile Money Growth

Last year marked a continued growth of mobile money worldwide. The 2023 State of the Industry Report on Mobile Money by GSMA finds that global mobile money accounts grew by 13% to 1.6 billion in 2022 from 1.4 billion in 2021, with the total transaction value surging to around $1.26 trillion.

Up to $832 billion of that came from sub-Saharan Africa, a region home to two large markets—Nigeria and Ethiopia—that spearheaded global industry growth thanks to their liberalized regulatory regimes. In addition, West Africa was the world’s fastest-growing region for mobile money adoption.

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October 20, 2023