Nine African countries have legalized cannabis cultivation for industrial and medicinal purposes, unlocking a multibillion-dollar market and opportunities for startups and entrepreneurs.
African countries are reducing internet censorship, with 10 countries ranked as having low internet censorship, bucking the global trend.
The World Bank's report reveals the top 10 African countries with the highest economic forecast for mid-2024, led by Niger with a projected growth rate of 9.1%. This growth presents opportunities for tech and startups in sectors such as fintech, healthtech, and e-commerce.
Sub-Saharan Africa's government debt has quadrupled since 2006, posing significant economic challenges and implications for startups and entrepreneurs.
The World Bank's revised economic forecast for Africa predicts slower-than-expected growth in 2024, with Equatorial Guinea having the lowest economic forecast. The slowdown is attributed to internal and external socio-economic and political complications.
Johannesburg, South Africa, ranks as the top African city with the best mortgage value, followed by four other South African cities and Rabat, Morocco. This information is significant for startups and entrepreneurs, as it can impact talent attraction, business decisions, and regional economic growth.
East Africa leads economic recovery in Africa, with Kenya driving growth through its robust currency and improved macroeconomic circumstances.
The Global Innovative Index 2024 reveals Rwanda, Madagascar, and Burundi as top innovators in Africa's low-income category, highlighting the potential for innovation to drive economic growth and reduce poverty.
Kenya's Central Bank is set to launch the Fast Payment System, a new instant payment system that will allow for seamless transactions across all financial institutions, promoting financial inclusion and economic growth.
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