The World Bank predicts the greatest drop in remittances in recent history, with low-income developing countries set to receive US$110 billion less, due to COVID-19 in 2020. Remittances, which are the cash flows sent home by migrant workers to help their families, are a huge source of finance for low- and-middle-income countries. Last year, these countries received 78% of the US$714 billion that were sent around the world. Global remittance flows were five times higher than official development assistance in...
Nigeria’s tech sector accounts for almost 10% of the nation’s GDP today. That’s up from less than 1% of GDP in 2001. Nigeria is Africa’s biggest technology market and accounts for 24% of internet users in Africa, with 123 million people online in June 2019. Nigeria’s tech sector has often found creative solutions to fill gaps left by the state. For example, large firms are delivering services in healthcare, agriculture and finance. Smaller firms are providing e-commerce platforms and other...
Many African countries depend entirely on agriculture for economic growth — but many people have nothing to eat. As we commemorate the Africa Day of Food and Nutrition Security, we bring to light three immediate steps that need serious attention if our leaders are to find solutions to starvation and malnutrition on the continent. 2019 marks exactly half a decade since African leaders renewed their commitment to achieve inclusive agricultural transformation on the continent by implementing the Malabo Declaration. Despite...