Posts tagged: Mobile Commerce

Intra-African trade

Image for Intra-African trade

The creation of a free-trade area that boosts Intra-African trade is being proposed by both the African Union and the World Bank as a key driver for economic growth on the African continent. The World Bank reports that African nations are losing out on billions of dollars of potential trade earnings because of trade barriers among neighbouring countries and onerous shortcomings rooted in the continent’s history. However, cross-border trade on a micro and informal level has been taking place for decades. It sustains many livelihoods, creates millions of informal jobs and provides an access point to cheaper and essential goods.

Africa Open for Business

Image for Africa Open for Business

Africa is becoming a business destination and many start-ups are positioning themselves to become part of this growing business trend. As Vijay Mahajan points out in ‘Africa Rising’, 300 million of the 900 million consumers are tirelessly working their way out of extreme poverty to become lower middle class citizens. The World Bank says the percentage of Africans living on $1.25 a day or less dropped from 59% to 51% from 1996 to 2005 and has decreased further since.