Nigerian government launches central bank digital currency eNaira
Following ban on crypto currency,Nigeria’s president, Muhammadu Buhari has on monday launches the eNaira- Nigeria’s central bank digital currency (CBDC)
Developed by fintech company Bitt, Nigeria is one of only a few countries in the world to develop an official digital currency. At the launch Monday, the Central Bank of Nigeria governor, Godwin Emefiele, said 500 million eNaira ($1.21 million) has already been minted, and the CBDC’s digital currency app and its merchant wallet are now live on Google play store and available for download.
Scottish university hands over looted Benin Bronze to Nigeria
Being the third European institution in two days to return cultural artefacts to their African homelands, Scottish university is set to deliver to a Nigerian delegation a Benin Bronze that was among thousands looted by British troops in 1897,
The bronzes which were stolen from Nigeria royal courts are among Africa’s most significant heritage objects and are mostly in Europe, and they represents the head of an Oba, or king, of the once mighty Kingdom of Nigeria’s Benin.The handovers are sign of growing momentum towards the return of artefacts stolen from Africa by Europeans during the colonial period, and they likely to increase pressure on the British Museum in London, which holds the largest and most significant collection of Benin Bronzes.
Airtel Africa eyes broadband and mobile money boost after bumper first half
Airtel Africa on Thursday, said it expects a boost from growing demand for mobile broadband and phone-based financial services.
According to its chief executive, The telecoms firm, which operates in 14 African markets including Nigeria and Kenya, grew 27.6% revenue on a constant currency basis in the six months to the end of September. Ogunsanya said, the provision of a fourth generation (4G) internet network in its markets has been a key driver of revenue growth, mobile financial services, including cash transfers and payments, has also been fuelling growth.
Nigerian start-ups digitise local food supply chain
Two start-ups in Nigeria, Vendease and Sabi, are digitising the local food supply chain, helping merchants navigate high food costs and farmers sell their produce.
The firms which were established last year, have created digital marketplaces allowing wholesalers, shopkeepers, restaurateurs and hotels to buy directly from farms and manufacturers. After having helped more than 100 hotels and restaurants save $480,000 in food procurement costs in the last nine months, founder of Vendease, Kara said they plan to expand to 20 cities across Africa from three in Nigeria and sign up to 50,000 businesses on the company platform in the next three years.
S.Africa’s Aspen aiming to sharply increase COVID-19 vaccine capacity by 2024
Aspen Pharmacare (APNJ.J) of South Africa plans to increase its COVID-19 vaccine manufacturing capacity to 1.3 billion doses per year by February 2024, up from the current yearly output of roughly 250 million doses, according to the company’s CEO.
In a so-called “fill and finish” deal, Aspen is doing the final stages of manufacturing for Johnson & Johnson’s (JNJ.N) COVID-19 vaccine, but CEO Stephen Saad said in an interview that the companies were close to announcing a broader deal for Aspen to produce Johnson & Johnson’s COVID-19 shot under license.
Sub-Saharan Africa to experience mixed economic recovery into 2022
As life slowly returns to normal amid low vaccination rates, a research claims that growth in Sub-Saharan Africa’s major economies would be mixed in 2022, following a year of COVID-19 lockdowns.
The rate of recovery is mostly favorable, according to the research, with growth in Nigeria’s GDP predicted to reach 2.7 percent next year, up from 2.5 percent this year. Kenya’s GDP is expected to expand by 5.3 percent next year, up from 5.1 percent this year. Ghana’s GDP is predicted to rise by 5.1 percent next year, up from 4.2 percent this year.
Khartoum airport closed amid demonstrations in Sudan
Amid demonstrations and chaos following a military takeover in Sudan, the country’s civil aviation authority has as of Tuesday suspended all flights to and from Khartoum International Airport.
The head of Sudan’s ruling council, General Abdel Fattah Al-Burhan has also declared a state of emergency Monday and dissolved the Transitional Sovereign Council and government. The move came hours after the military arrested Prime Minister Abdalla Hamdok and ministers in the civilian government.
Kenya’s Uhuru Kenyatta to lead climate talks at UN conference
At the United Nations climate conference (COP26) starting in Glasgow, Scotland, next week, Kenya’s President Uhuru Kenyatta will lead talks on Africa’s crucial role in tackling the climate crisis,
A side event will be held between President Kenyatta and Evgeny Lebedev, the British-Russian entrepreneur who owns the Evening Standard and The Independent newspapers, to address the necessity of maintaining Africa’s carbon-rich natural environments. Kenya, The Independent, and the worldwide conservation NGO Space for Giants will examine how private and public sector investment might help maintain important carbon sinks at the event. The sideline meeting will take place on November 3 from 1 p.m. to 2.30 p.m. local time at the African Development Bank’s COP26 pavilion.
Zimbabwean author Tsitsi Dangarembga wins German peace prize
Zimbabwean author and filmmaker Tsitsi Dangarembga has been honored with the Peace Prize of the German Book Trade.
The Peace Prize of the German Book Trade, which has been awarded since 1950, is one of Germany’s most important awards, worth 25,000 euros. Dangarembga who is the widely audible voice of Africa in contemporary literature was not only honored for her artistic work, but also for her political commitment. She has been fighting for freedom and against corruption for years and has to answer for this in court. Following her acceptance, Dangarembga called for overcoming old hierarchical thought patterns, also with the help of language
Cameroonian start up promises new hope in the fight against plastic pollution
In Douala, Cameroon’s economic center, a new start-up called Isotech that specializes in recycling plastic garbage has the potential to solve an old problem. Discarded plastic garbage, which is currently being collected in order to be converted into diesel fuel, frequently clogs the sewage system and drains. In 7 working hours, the system produces 15 litres of fuel. The incinerator runs on the resulting fuel. The production is still minimal, but for the government officials who support this project, it is a method of fighting for environmental protection.
Patrick Kuate Deffo, operations manager of Isotech. Said collecting plastic waste discarded by the population and also by companies, is their own way of contributing to a healthy and clean environment in order to preserve it for future generations
