Africa’s millionaire population expected to increase by 65%

Africa’s millionaire population expected to increase by 65%

There is USD 2.5 trillion in total investable wealth currently held on the African continent, and its millionaire population is set to rise by 65% over the next 10 years. This is according to the 2024 Africa Wealth Report, published by Henley & Partners and wealth intelligence company New World Wealth. In its 9th edition, the latest report reveals that there are currently 135,200 high-net-worth individuals with a liquid investable […]

April 16, 2024 4

Africa

Ethiopia looks to the Singapore model to lure startups in sweeping new reforms

By Seth Onyango, bird story agency Ethiopia has unveiled sweeping reforms to support a burgeoning startup industry and turn the country into a leading incubator of entrepreneurs. Notable changes include slashing a 30% capital-gains tax on the transfer and issuance of shares, according to Brook Taye, Director-General of the Ethiopian Capital Market Authority. The move, combined with an allowance for startups to retain all foreign currency […]

April 16, 2024 6

Africa

bird TenX: African countries with the highest number of EVs

By Bonface Orucho, bird story agency Despite recent headwinds, a growing shift from gasoline-powered vehicles to electric vehicles continues apace in Africa. Last year, the global sale of fully electric and plug-in hybrid vehicles rose by 31% compared to 2022, according to a 2024 report by market research firm Rho Motion. Despite the high cost of conversion and a lack of adequate enabling infrastructure such as […]

April 16, 2024 53

Africa

Tanzanians go to the polls in 2025: President Samia has changed the landscape, but Magufuli’s legacy persists

By Nicodemus Minde, United States International University It’s been three years since the death of Tanzania’s president John Magufuli and the rise to power of current president Samia Suluhu Hassan. Magufuli was Tanzania’s fifth president. He came to power in 2015 and was re-elected in 2020 in a poll that was marred by controversy. Magufuli brought lasting changes to Tanzania’s political landscape during his six-year tenure. His […]

April 16, 2024 10

Africa

Beyond images of war: Sammy Baloji’s work captures DR Congo’s vibrant arts and culture, challenging western views

By Pierre-Philippe Fraiture, University of Warwick The Democratic Republic of Congo (DRC) is all too often associated with violent conflict, at the expense of its positive aspects. Reports on this huge country, the second largest in Africa after Algeria, and nearly twice the size of South Africa, tend to overlook its intellectual and artistic vibrancy. My research has focused on this part of the continent. This […]

April 16, 2024 10

Africa

New e-mobility policies are pushing EV fleet expansions in Africa

By Bonface Orucho, bird story agency African countries are welcoming a new era of more robust e-mobility policies as countries seek to scale their electric vehicle (EV) fleets after successful tests and pilots. According to Lusanda Madikizela, the head of Zero Emission Transport at C40 Cities in South Africa, better policies provide confidence for investors, manufacturers and operators. “Manufacturers need policy certainty so they can adjust specifications... financiers […]

April 16, 2024 65

Africa

EU calls for resolution to Sudan crisis

The EU foreign policy chief Josep Borrell says the Sudan conflict "has triggered the worst humanitarian crisis in the world" and "we must put an end to this man-made disaster."

April 15, 2024 30

Africa

South Africa’s President visits east Africa for diplomatic talks

South Africa's President Cyril Ramaphosa will be in East Africa this week where he will meet Uganda's President Yoweri Museveni and South Sudan's Salva Kiir. In Entebbe, Ramaphosa and his Ugandan counterpart are expected to discuss regional security and stability, including the situation in the Eastern Democratic Republic of Congo.

April 15, 2024 28

Africa

Tanzanian floods kill 60

Nearly 60 people have died since the start of April in heavy rains and flooding that has hit several parts of Tanzania, the government said. The coastal region of the East African country is one of the worst affected, with floods damaging thousands of farms there, Mobhare Matinyi, the government spokesperson, said in a statement on Sunday. He told the BBC that so far, 58 deaths have been recorded across […]

April 15, 2024 18