1. Could Zimbabwe become Africa's First Cashless Economy? - This week, Econet Wireless, the country's largest mobile telephone provider unveiled plans to bring a mobile-money solution to the currency-troubled country. Called EcoCash, the telecom provider, hopes to take the Safaricom M-PESA styled mobile-money solution one step further and completely replace cash as the primary form of payment system. The implications of a system that includes the cash-trapped, bankless consumer reach far and wide for the greater economy.
2. Dutch Firm Wins Advisory Contract on Tanzania's Rapid Transit System - Tanzania's Dar Es Salaam Rapid Transit (DART) system is due to begin operations at the end of this year. The DART is hoped to reduce the traffic congestion that has troubled the country's capital for some time. The Dutch firm, The Rebel Group, won a $1 million operations management advisory contract. Improvement to the transportation system in Dar Es Salaam is likely to foster improvements in other business and governmental sectors across the city.
3. In Ethiopia, Government Industry Zones Attract Major Foreign Companies - Ethiopia has 20 major Multi-National Corporations committed to building factories and other manufacturing operations in its first government industrial zone on the outskirts of Addis Ababa. Ethiopia plans more of these industrial zones around the country and are offering different incentives for companies looking to move operations there.
4. Rwanda Receives $240,000 for Milk Logistics - The Land o Lakes International Development, with donated funds from USAID, provided Rwanda $240,000 to boost food security and improve the income of Rwanda' small dairy farmers. The granted funds have been earmarked for infrastructure improvements across the country's milk supply chain.
5. African Union Lifts Madagascar's Suspension - After the installment of a democratically elected leader, the African Union ended its suspension of Madagascar that has been in effect since the 2009 coup. As political stability continues to grow across the continent, the opportunities will continue to grow as political stability ushers in economic stability and growth.
6. Giant Telescope Array Could Usher in Astronomy & Economic Development - The world's largest radio observatory is being built in Africa across eight different countries. Experts believe that this array will lead to an astronomy renaissance across Africa, and that the ensuing interest and tourism will create extensive economic development across the continent. One thing is certain. The array itself will bring opportunities in everything from hospitality to restaurants to education, and other supporting industries as the volume of travel to the array's different locations increases.
As always, these stories represent only a small portion of the progress being made across the continent daily. We hope they help to illuminate the good going on across Africa. If your organization wants to blaze a new trail, consider Africa and its many opportunities. Need a hand setting your strategy or learning how to manage the associated risks? Contact Us to see how we can help your organization evaluate these opportunities and create your entrance strategy.
Lastly, in the previous week's update we mentioned the creation of a weekly newsletter. We are still working through the design elements, and we endeavor to have this online within the next couple of weeks so that you are able to simply sign up and receive the updates by mail, if you so wish.
From everyone at Res Rei, enjoy your weekends and start your next week off thinking about how you can grow your company further.
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