BUSINESS NEWS REPORT – JUNE 2019
Every month Africa HR Solutions curates the latest high impact news across Africa. Check the top business news for June 2019.
International Development Research Center (IDRC) and Oxford Insights recent study
The most recent study by the International Development Research Center (IDRC) and Oxford Insights reveals that Kenya ranks first in Africa to prepare for the adoption of the new technology. In the global level, Kenya ranks 52nd, leaving behind other African countries.
The report reveals that MSMEs are the least prepared in building digital capabilities. It’s only around 20 – 40% of them have set IT policy while 78% large firms have IT policy set in place.
ZayRide expands to Monrovia
ZayRide, which launched in July 2016, is expanding to the Liberian capital, Monrovia. In collaboration with the Liberian web solutions firm Hak Technologies, the Ethiopian on-demand taxi service will introduce 200 cars by August this year, says founder Habtamu Tadesse.
E-hailing services like Uber and its rival Bolt (formerly Taxify) are yet to tap into Ethiopia even as they have introduced low-cost to premium products in smaller African nations including Uganda, Mauritius, and Ghana.
The African Development Bank and its partners launched the Africa Digital Financial Inclusion Facility (ADFI)
The goal is to ensure that at least 320 million more Africans, of which nearly 60% are women, have access to digital financial services.
The Fund, launched at the Bank’s Annual Meetings in Malabo, Equatorial Guinea, is supported by the Bill & Melinda Gates Foundation, the Agence Française de Développement (AFD) and the Government of Luxembourg, as initial contributors.
Africa’s fintech sector is growing at a fast pace
With the number of startups operating in the space growing by more than 60 per cent in the last two years, while funding has hit new records.
Following a successful first edition in 2017, Disrupt Africa has released Finnovating for Africa 2019: Reimagining the African financial services landscape, which finds the number of active fintech ventures across the continent has grown to 491 from 301 in 2017!
