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Additional investment of more than Ksh 10 trillion, (USD 100 billion) in internet infrastructure, policies and ecosystems are necessary in order to raise the degree of digital access in Kenya and across Africa in general. This is the key consensus reached during the Africa Fibre Forum 2023 hosted by Huawei Technologies in partnership with the Digital Council Africa (DCA) and the World Broadband Association (WBBA).

Set against the backdrop of Africa Com, the continent’s largest technology conference in Cape Town today, Samuel Chen, President of Southern Africa Carrier Network Business Group of Huawei emphasized the immense potential of fiber technology for better digital inclusion.

Addressing about 100 industry leaders and experts from over 50 organizations, Chen explained that public and private sector digitalization and globalization have made the fiber infrastructure industry more important and relevant than ever. He pointed out that Kenya has shown the way for other countries with commitments to invest more than Ksh 45 billion (USD 300 million) in progressive rollout of fiber optic cable across the country. This, he added, is commendable as available data shows local Internet speeds remain dismal at 195% slower than Europe’s average for mobile and 418% slower for fixed internet.

“Higher investment in fiber is our best bet at turning the situation around since inclusive, high quality, affordable connectivity is dependent on extensive deployment and use of fiber networks. Furthermore, the right policies and ecosystems are key to facilitating a fiber broadband explosion,” he noted.

Chen added that digital infrastructure, in particular the fiber networks, are essential to support the digital economy and to harness opportunities offered by the emerging technologies and innovations,” he added.

His remarks were anchored by John Omo, the General Secretary of the Africa Telecommunications Union who noted, “In order to accelerate fiber industry development, we must actively advocate for legislative changes that acknowledge the unique nature of fiber deployment.”

This, he noted, calls for collaborative dialogue to formulate policies that streamline regulatory processes, incentivize private investments, and encourage public-private partnerships that catalyze innovation and operational efficiency.

According to Martin Creaner, Director General of the World Broadband Association (WBBA), the world will add another 243 million fixed connections by 2027, most of them fiber. “The African continent is in the fast lane of broadband connectivity with a faster rate of growth and greater potential for growth than any other region of the world,” noted Creaner. He added that to realize this potential, the industry will need more investors to fund connectivity initiatives, while encouraging regulators and governments to step up policies prioritizing fiber infrastructure rollout and sharing.

In line with its commitment to empowering over 2000 partner shops and restaurants, Glovo, the leading multi-category app, this week hosted the second cohort of its Learning & Development Training exercise for its partners in Kenya. The exercise which was designed to fortify the business acumen and overall performance of partners was delivered in collaboration with Ongoza Institute, an accelerator for early-stage high-growth young entrepreneurs in Kenya.

The initiative stems from Glovo’s steadfast dedication to promoting entrepreneurship within its ecosystem. Building on the success of the inaugural training, which was held in Kenya, the company plans to expand these developmental sessions, conducting them quarterly and improving the sessions based on participant feedback and insights. This iterative approach ensures continuous support and empowerment for Glovo’s valued partners.

“At Glovo, our commitment to impact and sustainability goes beyond business. By nurturing the skills of our partners, we are fostering a community of entrepreneurs who understand the importance of creating positive, lasting change. This initiative is a testament to Glovo’s dedication to not only thriving in the market but also leaving a meaningful and sustainable impact on the communities we serve,” commented Sébastien Pellion, Head of Impact and Sustainability at Glovo.

Also speaking on the training, Loreen Wanjiru, Program Lead at Ongoza said, “We are honored to have partnered with Glovo to deliver this training program for its partners to elevate their businesses. Glovo has shown great support to its partners to ensure their businesses succeed.”

Glovo envisions these training sessions not only as a means to enhance business proficiency but also as a catalyst for fostering a collaborative community of thriving entrepreneurs within its network. The company remains dedicated to providing its partners with the tools and knowledge needed to excel in the evolving landscape of on-demand services.

Samsung Electronics has announced its new Galaxy Tab A9 series, delivering Samsung Galaxy’s awesome tablet experiences at great value. Available in two sizes, the series combines immersive video and audio with hyper-fast connectivity supporting everyday entertainment and productivity needs in a portable package. The Galaxy Tab A9 and Galaxy Tab A9+ exemplify the Galaxy connected ecosystem, offering a continuous experience across multiple devices, as well as innovative ways for users and their loved ones to safely navigate the digital realm.

“We believe everyone deserves the opportunity to experience the latest innovations in tablet technology,” said TM Roh, President and Head of Samsung Electronics’ Mobile eXperience Business. “With the latest Galaxy Tab A series release, we’re making it easier than ever for all to enjoy great entertainment and productive multitasking across the entire Galaxy ecosystem.”

Engineered for Pure Viewing Pleasure

The Galaxy Tab A9 and A9+ offer the largest screens of any Galaxy A series tablet yet, with 8.7 and 11-inch displays, respectively, that immerse users in their favorite movies, shows or games.

Galaxy Tab A9+ users can get lost in cinematic experiences, thanks to a 90Hz refresh rate for lag free gaming or scrolling and enjoy immersive sound with Quad speakers, powered by Dolby Atmos. With hyper-fast 5G connectivity, there’s no need to worry about interrupted streaming when you’re on the go. Galaxy Tab A9 features Dual speakers and LTE connectivity. Both tablets feature sleek, unibody designs with a soft-texture back cover, making them easy to handle.

Awesome Performance

Galaxy Tab A9 and A9+ provide exceptional performance and speed that empower users to accomplish more. With the largest memory and storage available on a Galaxy Tab A series, there is plenty of room to store and save documents, sources of inspiration and more.

Engineered to enhance productivity and the ability to learn, the Galaxy Tab A9+ brings PC-level multitasking to the tablet with Samsung DeX and the multi-active window allows up to three split-screens3 to maximize the ability to do more at once. Galaxy Tab A series users can now record their screen with Screen Recorder, so it’s easy to refer back to information or inspiration later.

Your Galaxy, Your Way

The Galaxy Tab A series enables seamless connectivity across Samsung Galaxy devices, so users can easily move content between mobile, tablet and TV monitors. Quick Share5 simplifies file sharing without requiring device pairing, so users can send their favorite content between devices.

The new Galaxy Tab A series also ensures that data is safe and secured by Samsung Knox, Samsung’s award-winning, multi-layered security platform. The Security & Privacy Dashboard empowers users to easily see and control what happens to their data. With Private Share, content is encrypted before it’s shared. The sender can set access permissions, expiration dates and more to have extra peace of mind when sending sensitive information. And with Secure Wi-Fi, users can take their Galaxy Tab A9 or A9+ on the go without worrying about risky shared internet networks. Internet traffic is encrypted and tracking apps are blocked so browsing is private and secure.

Tablets have become an essential source of entertainment and learning for children, and Samsung Kids helps children safely navigate the digital realm. With a simple set up process, parents and caregivers can monitor and control children’s digital activities, access settings, create child profiles, set playtime and monitor the content that children are consuming. Plus, Samsung Galaxy’s ‘Edutainment’ provides fun and engaging content on-device.

Availability

The Galaxy Tab A9 series will be available from October 23, starting with select markets. The series comes in three refined colors6: Graphite, Silver and Navy.

Nairobi Gate Industrial Park has launched the first Special Economic Zone (SEZ) with a gazetted customs control area in East Africa. This consolidation will allow businesses operating from Nairobi Gate additional efficiencies including a one-stop shop for regulatory agencies including the Kenya Revenue Authority, Kenya Ports Authority, customs, and the Special Economic Zones Authority (SEZA).

Speaking at the launch, Hon. Abubakar Hassan Abubakar, Principal Secretary State Department for Investment Promotion, underscored the importance of industrial parks in driving investment within the country in addition to accelerating manufacturing in and promoting skills exchange, noting that the industrial park has already created 434 direct and indirect jobs, and is expected to generate at least 10,000 job opportunities as it progresses.

“This inauguration is in alignment with the Kenyan government’s vision and commitment to developing and implementing investment policies, and to coordinate the promotion of private investment into the Kenyan economy, including both foreign and domestic investment. It signals to us, and to the world at large, that Kenya remains an attractive investment destination,” said Hon. Abubakar.

Developed by Improvon Group, Nairobi Gate SEZ was meticulously designed to align with the East African Community Customs Management Act (EACCMA) requirements. This involved housing all relevant government agencies within the zone, including revenue, port, and customs control agencies, as well as entities like the Kenya Medical Supplies Authority (KEMSA), Kenya Urban Roads Authority (KURA), Kenya Bureau of Standards (KEBS), and others.

So far, the developers of the Nairobi Gate Industrial Park have invested US $40 million with a commitment to invest up to US $160 million by the year 2035.

Dean Shillaw, Managing Director of Impact North SEZ, owner of Nairobi Gate Industrial Park, explained that the SEZ will provide additional value for businesses, stating: “Because the Special Economic Zone is effectively an extension of Kenya’s border for imports and exports, a one-stop solution had to be provided to house all relevant government agencies. This allows us to provide unprecedented levels of ease for our tenants while allowing them to thrive within a well-planned industrial park. In addition to the warehousing and infrastructure, we have also installed multiple state-of-the-art weigh bridges, customs-controlled gatehouses and other security measures that will allow the zone to operate as a fully functional and comprisable area.”

Dr. Kenneth Chelule CEO of the Special Economic Zones Authority (SEZA), emphasized the significance of Nairobi Gate, as it marks the first SEZ to fully integrate customs control provisions within the zone, following recent legislative developments.

“As SEZA, we believe that the Nairobi Gate Industrial Park represents the flagship SEZ that will unlock significant economic growth opportunities and create multiple jobs, positioning Kenya to compete not only regionally but on the international stage as a manufacturing destination of choice,” said Dr. Chelule.

Nairobi Gate offers a ‘built to suit’ concept, in response to the demand for flexible, grade A light-industrial properties. It stands out with its excellent access, efficient truck circulation, ample loading facilities, multiple roller shutter doors, and generous height for pallet storage capacity. The development is ideal for accommodating international warehousing, distribution, and manufacturing businesses, as well as local entities specializing in high-value items like pharmaceuticals, medical equipment, electronics, and engineering components, FMCG and cold-chain storage.

Strategically aligned with Nairobi’s 2030 spatial development plan, Nairobi Gate offers turnkey projects, ranging from mini units of 5,000 square feet to warehouses of 400,000 square feet, along with land sale options.

Fans of LG products in Kenya are set for a delightful surprise as LG Electronics East Africa launches its highly-anticipated Black Friday campaign, which will run for the entire month of November. This special promotion promises substantial discounts on a wide range of LG products, making it the perfect opportunity for customers to enhance their homes and lifestyles with premium electronics.

As part of the Black Friday campaign, LG is extending its generous discounts to those who visit its Brandshops, ran in partnership with accredited distributors Opalnet, Hotpoint, and retail partners across the country. Customers across Kenya can from November 1 – 30, 2023 take advantage of these incredible offers and elevate their home entertainment and appliance experiences.

Throughout the campaign, customers will enjoy discounts ranging from Ksh.3,000 to KSh.25,000 on a diverse selection of LG items. This includes its line of TV sets, refrigerators, washing machines, air conditioners, and sound systems.

“We are excited to bring our customers this exclusive Black Friday promotion, where they can save big on the latest LG innovations,” said LG’s Managing Director for East Africa, Dongwong Lee.

“This is a fantastic opportunity for consumers to experience the exceptional quality and performance that LG is known for, all at significantly reduced prices.”

LG has earned a reputation for its commitment to innovation, product quality, and customer service. The Black Friday campaign reflects its dedication to providing value to its customers and making its high-quality products more accessible.

By Jaco Viljoen, Group Chief Executive Officer – First Capital Bank

 

Around the world, banks form the foundations of any economy by providing critical services that enable payments, working capital to grow businesses, finance to buy assets, interest on savings and investment accounts, and more.  However, when looking at the sector, we must remember that banking isn’t just about numbers and profits, it’s also about improving lives and communities.

 

Although recognised for its importance in providing financial services like cash management, payment processing, and hedging structures to a diverse clientele of small and mid-sized enterprises to large corporations, the greater impact of corporate banks is often overlooked. This is particularly true for domestic African corporate banks that play a significant role in empowering people, businesses, and communities.

 

While they, of course, meet the financial needs of corporate entities, these banks also help to deepen the financial development of the region, strengthening financial markets to build an environment that is more attractive to investment. Ultimately, corporate banks facilitate long-term economic growth by enhancing the ability of  firms and businesses to invest in long-term and seemingly risky initiatives.

 

While corporate behemoths and global titans often take up the spotlight in the banking world, homegrown African corporate banks can provide substantial benefits to domestic economies. By leveraging their deep knowledge of local customers and the local environment, along with their expertise of financial systems across the continent, domestic pan-African banks are already driving transformative financial and social impact. They’re doing this by providing finance that would most likely have been declined by someone “sitting far away” as well as ensuring a quick turnaround which enables faster growth.

 

And, as economic growth in sub-Saharan Africa has slowed to 3.3% in 2023 compared to 4% in 2022, ensuring that domestic corporate banks on the continent are agile, resilient, and innovative, will be key to the growth and expansion of African economies.

Driving growth in the entrepreneurship ecosystem

The continent’s startup and entrepreneurship ecosystem is growing rapidly, even going against global trends of a slowdown, with African startups raising approximately $1.5 billion in the midst of the pandemic outbreak in 2020, over $4 billion in 2021, and an estimated $4.5 billion in 2022.

Many entrepreneurs on the continent, particularly those in the SADC region, are still faced with significant challenges, while a large portion of emerging entrepreneurs and small businesses continue to fail for a variety of reasons including the inability to raise the capital to scale their businesses. However, a stronger presence of local corporate transactional banks will support the continued growth of Africa’s entrepreneurship ecosystem by improving access to funds through channels such as business loans and lines of credit.

For entrepreneurship to thrive, more disciplined financial management is required. And, because domestic corporate banks understand the challenges and complexities of running a business in the local market, they can be relied on as trusted advisors helping entrepreneurs to navigate areas such as business planning, market analysis, and mergers and acquisitions.

Fostering increased cross-border trade

According to the World Trade Organisation, global trade volumes and value have ballooned in recent years. In fact, the value of world merchandise trade was recorded at $25.3 trillion in 2022 while the value of  commercial services trade sat at $6.8 trillion and digitally delivered services exports were estimated to be worth $3.82 trillion in the same year. Moreover, trade between Africa and the international community has grown exponentially in recent years.

 

Intra-African trade, however, continues to lag behind global trade growth trends. The United Nations Conference on Trade and Development (UNCTAD) notes that intra-African trade stands low, at just 14.4% of total African exports. But, there remains a significant appetite for cross-border trade as indicated by the fact that informal cross-border trade on the continent is a source of income for 43% of the population in Africa.

 

By facilitating the growth of African corporate banks on the continent, we will in turn be able to increasingly facilitate internal trade across Africa by easing financial barriers and capitalising on the significant knowledge of the regulatory landscape of markets in the region that these banks possess. More than this, domestic corporate banks will help to reduce the risk of cross border trade.

 

Enabling enterprises to scale sustainably

By simply ensuring the security of finances and financial services to businesses and enterprises across the continent, African corporate banks will enable businesses on the continent to invest in their growth, scale up as needed, and hire more people resulting in reduced unemployment for the fastest growing population in the world. Essentially, by enabling the growth of small and medium-sized businesses, this will in turn lead to the creation of more job opportunities, resulting in the upliftment of millions of people out of poverty, greater social cohesion and economic growth, and ultimately position Africa as a key part of the global labour market.

Ensuring the ease of doing business

The corporate banking sector is foundational to improving the credibility of businesses. At the same time, corporate banks have a role to play in opening African businesses to greater investment opportunities while reducing the risk of doing business on the continent due to weak currencies, political instability, inclement weather conditions and soaring unemployment rates.

Essentially, these banks ensure the ease of doing business in Africa by making financial transactions easier and enabling businesses to adapt to rapid changes.

 

Be that as it may, the success of African corporate banks is heavily dependent on their flexibility and agility as well as placing a strong emphasis on service and authentic customer relationships. Purpose-driven leadership and robust strategic partnerships are key elements needed within domestic banks, to drive tangible societal change and a positive impact on communities. Through strategic partnerships, African corporate banks will be able to benefit from the expertise, management abilities and best practice policies of those they collaborate with.

 

As such, it’s clear that an unwavering purpose is not only central to African financial institutions achieving audacious growth, but also the development of Africa beyond a resource-rich continent and into a new era of prosperity.