Airtel Uganda recently launched its mobile money platform ,Airtel Money. The service provides to the market convenient, affordable and innovative financial services through the mobile phone. The platform allows consumers to top up their phones with air time, send and receive money, pay their critical utility bills, access their bank accounts and withdraw Airtel money across all interswitch ATMs countrywide.|Source |

Nokia East Africa annouced a new warranty programme, covering Kenya, Uganda or Tanzania, that sees the combination of online, 24-hour care exchange and repair services to customers across East African borders.|Source |

Orange’s intent to increase its customer acquisition and retention by offering relevant and cost effective data services leads them to offer the following in Kenya:
Targets prepaid Mobile and Internet Everywhere 3G modem users
Access to unlimited daily, weekly and monthly bundles
The offer is the most affordable proposition in the data market.
|Source|
POST SPONSORED by TICBANK 2012

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Reflecting mainly strong demand but also elevated commodity prices, the region’s economy is set to expand by more than 5¼ percent in 2011.

Download the full report here.

IMF website

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Post tags: African economies, Economic projections, Frontier Market, IMF, SSA Africa growth forecast

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Editor’s note

Consumer spending in Africa is expected to roughly double by 2020 and give rise to a nascent middle class.Morocco,Ghana,Tunisia,Nigeria,Ivory Coast,Mozambique,Kenya ,Rwanda should among the economies experiencing such a trend.

In some other news ,Nigeria is thinking about the establishement of a sovereign wealth fund.

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Africa encompasses more countries (53) than Asia and offers significant economic diversity. The nations of Africa currently are at a range of stages of development, political maturation, and urbanization. Unlike China and the Four Tigers, Africa is a mosaic of industries driven by vastly different dynamics.

The same trend that leads to market turmoil in one African nation, such as food price increases in Egypt,can be a growth catalyst in resource-rich countries such as South Africa and Nigeria.

Interesting facts:There are 52 African cities with more than 1 million people (in comparison,there are 52 in Europe and 48 in North America).
Africa’s labor force will grow from 500 million to 1.1 billion, at which point it will exceed China’s and India’s.

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Cement prices in Kenya may fall as much as 10 percent this year because of increased competition, Business Daily reported, citing the heads of two domestic producers of the building material.[Africa Investor ]

A wave of Western investment in African cinema has focused on sustainability and long-term growth. The emphasis is on discovering fresh talent, increasing the visibility of emerging filmmakers, opening up networks for distribution and building bridges with African helmers.[Variety]

Carlyle,The US private equity group plans to raise $750m to invest in the continent that would be overseen by a team of three with a presence in Johannesburg, Zimbabwe and Nigeria [FT ]

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While Kenya’s central bank raised interest rates for the second time earlier this year.The minister of planning forecasts the economy will expand by 4.2 percent this year, as improved infrastructure including investment in telecoms begin to bear fruit and that the spill-over effects of the ICT revolution are felt within the economy and the acceleration on south-south integration is palpable. [Source:Reuters Africa ]

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Post tags: African economies, business, Economic growth, Economic trends, Kenya, Macro Economics

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The total value of mobile money transfers in Africa will exceed US$200 billion in 2015.[ Source ]

Africa’s total stock market capitalization now exceeds $1 trillion [ Omegascorpi]

The Angolan Government will build from next October six multimedia libraries (computerized libraries and multimedia) in six provinces, in an initial investment estimated at USD 48 million. [ Source ]

A building materials and construction company, Kon-X Ltd., has introduced a new form of project finance to aid in reducing the high cost of building materials in Nigeria [ Source ]

The African Development Bank (ADB) has said it has received the Federal Capital Territory Administration’s request for a sum of $50 million to finance its proposed Bus Rapid Mass Transit (BRT). [ Source ]

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-Opera village near Ouagadougou worth 2 million Euros will be built by architect extraordinaire Francis Kere. [ Source]

-3 million years of Kenyan history to be distributed online and accessed from mobile phones.[Source ]

-The music and ideas of Oumou Sangaré [Source ]

-650 Engineers, Designers, Web Developers, Entrepreneurs and Students learned how Google hope to spur Tech Innovation and Entrepreneurship in Africa and even closer to home Uganda.[Source]

-Zain announced a partnership with IBM to roll out a $1.5 billion infrastructure to be based in Kenya which would support among many other things a Music(think iTunes) and App store (Thin Ovi). [source]

–Ciment institute to be established in Nigeria.[Source]

-Sudan has unveiled plans to redesign a number of its cities into the shape of animals. The southern capital of Juba – reportedly one of the fastest growing cities in the world, is to be relocated and restructured into the shape of a rhinoceros. [Source]

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Their solution can be opening up increased product sales coupled with additional benefits of mobile payment capabilities, transaction fees revenue, loyalty programs benefits, and more all facilitated by inexpensve and affordable mobile phones

[source]

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-A number of leading broadcasters and content suppliers involved in sub-Saharan Africa have come together to form Africa Media Rights Watch. [ Source ]

-The World Cup of filmmaking’the first Cinemasports international filmmaking competition to be held in Africa will take place on 18 September in Tshwane, South Africa. Harnessing a synergy between digital video, Internet, and mobile technology, Cinemasports is at the forefront of the changing media landscape. [Source ]

-IBM has announced the opening of a full subsidiary office in Accra, Ghana. The new office will enable IBM to deliver high-value solutions and services to meet the growing needs of clients in Ghana. [Source ]

-Nigeria mobile operator, Zain has introduced free SMS (Short Message Service), lowered tariff for calls made to numbers within (On-Net calls) and out of the networks (off-Net calls), and loads of other benefits designed to give its customers more value.[Source]

-Kenya prepares the way for a technology-based future. [Source ]

-Apple’s iPad could go on sale in SA within a matter of weeks [Source ]

-Global investors’ interest in acquiring vast swathes of land for commercial agriculture in Africa intensifies [Source]

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