Africa Digest : Trends and issues in macro environment Vol. 7

• Main Author: Burger, Johan
• Other Authors: Nanyang Business School
• Format: Newsletter
• Language: English
• Published: 2020
• Subjects: Business; Africa; Macro Environment
• Online Access: https://hdl.handle.net/10356/142764
• Institution: Nanyang Technological University

The Africa Digest is a fortnightly e-newsletter scanning the key trends in the macro-environment and industry to promote knowledge and raise understanding of business in Africa. This issue explores: 1. Trends in Agriculture - Agriculture is a sector of major importance in Africa, employing more than 70% of its population, and contributing approximately 15% to GDP. Although the continent has the potential to feed the world, it currently spends from US$35 billion to US$41 billion each year to import food, which will grow to US$110 billion in the next decade or so if nothing is done. 2. Renewable Energy Trends - Renewable energy in Africa represents a major business opportunity. Whilst doing good for the climate and environment, and meeting the energy needs of Africa’s population, of whom more than 60% are without access to electricity, renewable energy attracts investors from all parts of the world. 3. Sustainability in Africa - Africa needs to find solutions to a number of challenges, sooner rather than later. More than 600 million of its people do not have access to electricity. The UN’s Sustainable Development Goals, the AU’s Agenda 2063 and the African Development Banks’ High 5 Priorities all connect with this challenge in one way or another. Africa also has severe waste problems to deal with. Currently, approximately 40% of its population is urbanised, a figure that will grow to 50% in the immediate future. With its population also set to grow by 2050 from the current 1.2 billion to 2.4 billion, the pressure on the management of waste will be tremendous. 4. Technology and Digitalisation - Growing in leaps and bounds, the world of technology and digitalisation in Africa now shows its potential to transform the continent. The enabling technology ranges from 3D-printing, robotics, and e-commerce platforms to mobile money platforms. While the Fourth Industrial Revolution (4IR) has the potential to add tremendous value, Africa needs to create the conditions conducive to its local application and successful implementation. 5. Xenophobic Violence in South Africa - Towards the end of August and the start of September 2019 in South Africa, xenophobic violence flared up, leading to a loss of life and destruction of many businesses, buildings, and cars through looting and arson. This is unfortunately not a one-off event, with South Africa demonstrating this concerning trend since 2005. This article highlights the main events and provides concluding remarks.