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In African cities, the “gig economy” is called the economy
For many African countries, the gig economy could just be called “the economy.” For example, just 17% of Kenyan employment is formal. Many of these economies are driven by the informal nature of the gainful employment that exists.
- Region
- Sub-Saharan Africa
- Tags
- employment
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Impact investing task-force created to draw in the private sector in South Africa
The task-force’s mission is to mobilise capital that will go into growing small businesses, dealing with unemployment and inequity, as well as investing in economic and social infrastructure such as education and healthcare facilities.
- Categories
- Investing
- Region
- Sub-Saharan Africa
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Press release: Nine new projects focused on financial inclusion to receive more than US $9 million
Lindsay Wallace, Director of Strategy and Learning at the Mastercard Foundation, said: “The aim of the FRP has always been to enable smallholder farmers and poor people living in rural Africa to reach their full potential by supporting new private sector initiatives that provide access to financial services. We’re very happy to see this latest round of selected firms, demonstrating the depth and breadth of ideas and action plans that will do just that.”
- Categories
- Finance
- Region
- Sub-Saharan Africa
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USAID and Musoni Microfinance sign $8 million loan guarantee agreement to boost Kenya’s agricultural sector
Small scale farmers, individuals, associations, cooperatives and micro, small and medium enterprises (SMEs) in Kenya will be the key beneficiaries of this guarantee.
- Categories
- Agriculture, Investing
- Region
- Sub-Saharan Africa
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Mauritius-based startup works on first Africa-developed blockchain
A Mauritius-based startup is working on the first highly-efficient mobile blockchain developed in Africa, which it says is set to see large-scale consumer adoption by 2021.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- blockchain, fintech, startups
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SoftBank and Singtel are leading a pre-IPO $1.25 billion investment in Africa’s No.2 mobile phone company
Money raised from going public, alongside some of the new funding, will go towards cutting down the company’s existing $5 billion debt.
- Categories
- Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Africans Fear Trend Toward Taxes on Data, Mobile Money
The telecom companies say taxes on mobile payments introduced by a string of countries hurt their revenues and threaten much-needed investment in infrastructure.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Mobile money transfers have taken off in Somalia, but it’s a risky business
Unlike Kenya’s famous Mpesa mobile money transfer services, Somalia’s transfers are mainly available in US dollars. Though the companies offering mobile money services are mobile network operators, as in Kenya, they are increasingly forming part of large conglomerates that also offer banking and money transfer services.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech
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