The World Bank today approved a $50 million International Development Association (IDA)* credit to increase scale innovation and productivity amongst Kenya’s enterprises. The Kenya Industry and Entrepreneurship project (KIEP) is expected to benefit some 33,050 individuals and 2,393 firms. It will support the ambitious development targets outlined in Kenya’s Big Four development agenda and Vision 2030 that require significant growth in private sector jobs and overall productivity. The Ministry of Industry, Trade and Cooperatives, through the Kenya Industrial Transformation Program, prioritizes technology and innovation as the cornerstone for national industry development and the role that private sector firms play in driving Kenya’s industrialization. “We are committed to suppo
Innovation and entrepreneurship play an ever-increasing role in growing Africa’s emerging technology ecosystem. According to research by the GSMA Ecosystem Accelerator, over the past two years alone, Africa has seen the number of innovation hubs double. Whilst the big 3 cities – Nairobi, Lagos, Cape Town – have been dominating the Sub-Saharan growth narrative, the next wave of incubators are arriving from new ecosystem cities in North Africa. And the cities driving this growth, Casablanca, Cairo, Sousse and Algiers, are serious about generating sustainable operating models in the fast evolving ICT landscape to overcome core business challenges around viability, future-proofing the business and most importantly, producing continuous success stories. Funding in North Africa is s
A study funded by the UK Economic and Social Research Council and the Department for International Development found that some young people in Africa are using smartphones successfully to access or create employment. The use of internet has also become almost indispensable in economics, politics and development in the world. These technological inventions have spawned myriad opportunities that have transformed livelihoods and vastly improved services across the globe. In addition, digital revolution has brought immediate private benefits, easier communication and access of information. This has consequently shattered barriers to international trade and interactions, creating a more connected global community. According to a World Bank report, the number o...
Technological innovation is becoming a major economic and social development accelerator on the African continent. The world’s population is set to increase from the 7.6 billion people we currently have. According to the UN, the world population will increase by another four billion people by 2100. What is the main reason for this? It’s not because more children will be born, It’s because there will be more adults. The youth of the world are set to mature. How these young people will be distributed around the world is even more interesting. Africa’s demographics are unique from the rest of the world in the sense that we are continent of young people. It is predicted that within a period of three generations, 41 per cent of the world’s youth will be Africans. It is also expected t
AfriLabs has announced the admission of 40 new hubs; its largest hub admission to date into its network making it a total of 100 hubs across 30 African countries. This also extends the company’s reach to 6 new countries; Morocco, Algeria, Somali Land, Cote D’Ivoire, Angola and Mali. The new members of the AfriLabs network across the 5 regions are: Central Africa Altoufikh International Chad, NexGen Technology Center Cameroon, Kivu Hub Congo-Kinshasa. West Africa iCODE Ghana, Founders Hub Nigeria, Innovation Growth Hub Nigeria, Passion Incubator Nigeria, Civic Foundation for Innovation Nigeria, Honode Hub Ghana, Aiivon Innovation Hub Nigeria, Uplift Hub Nigeria, Roothub Accelerator Systems Nigeria, Tentmaker Ghana, CoLab Nigeria, Tribe Nigeria, Digital Development Hub Nigeria