Zimbabwe’s president, Robert Mugabe, has donated 300 cows to raise money for the Africa Union (AU) Foundation to help stop dependance on foreign aid funding. President Mugabe handed a $1 million cheque to the AU after the cattle were sold in Zimbabwe. The cheque was handed to the AU at its leaders’ summit in Ethiopia, and Pres Mugabe said his friends helped contribute to the noble cause to help end AU’s aid dependancy. However, President Mugabe’s donation has been met with strong criticism considering that the gift comes amid a severe cash crisis in Zimbabwe.
Small to medium enterprises are the backbone of most developing economies particularly #Africa where most young people are developing the entrepreneurial spirit as a mitigation measure against the high unemployment rates.
Ethiopia has surpassed Kenya to become east Africa’s top economic giant. According to data from the International Monetary Fund’s (IMF) Ethiopia’s annual economic output, (Gross Domestic Product – GDP), hit $72.52 billion (Sh7.4 trillion) last year from $64.68 billion in 2015 and is expected to touch $78.3 billion this year. Ethiopia opened a Sh3 billion gap against former leader Kenya to make it east Africa’s top economic giant. Ethiopia’s growth has been attributed to public-led spending on infrastructure and a robust domestic demand.
It’s finally here; Forbes Africa has released a list of the richest African musicians. Nigeria dominates the list with three artists in the top 10; The list features greats such as Zimbabwe’s Oliver Tuku Mtukudzi who has 65 albums under his belt, South African great Hugh Masekela and Black Coffee also feature on the list.
We need to get beyond past talk of Africa’s great potential to action. Dr Richard Munang and Mr Robert Mgendi suggest sustainable ecosystem-based adaptation-driven agriculture as a measure that is practical and has already succeeded in parts of Africa.
The argument for a basic income grant can no longer be ignored.
Besides the United States, Zimbabwe is the only other country that uses the US dollar as its primary currency. But a new currency known as “bond notes” might be on the way to correct this anomaly, writes Kudzayi Zvinavashe.
Troubling headlines from South Africa, Nigeria, Ethiopia and Kenya are putting a dent in the “Africa rising” narrative. So, is Africa reeling or rising? George Issaias, a seasoned talent manager in Africa, says there is no cause for panic. He argues there are plenty of reasons to feel positive about the continent’s future. You just have to know where to look.
The falling price of Internet data and the rise in smartphone use in Africa have opened the door to what is called the Internet Economy. This refers to business done through markets that have infrastructure based on the Internet. Osarumen Osamuyi examines the effects and the potential this has to change the African economy