This week: Tech booms (a bit) in Francophone Africa, but Kenya’s manufacturers struggle. China offers zero tariffs; Trump threatens 100%. What? Namibia gets its first female president and Cape Town steals the spotlight. No surprise there. The continent’s stories? Always dynamic. But first….

Africa Trivia

Graphic of the Week 

Let’s Go to Africa!

• Africa welcomed 6% more international tourists between January to September 2024 compared to the same period in 2019, showing strong recovery and surpassing pre-pandemic levels. North Africa led the region with an 18% increase in arrivals, one of the strongest global performances.

• Many African destinations saw faster growth in tourism receipts than arrivals, indicating higher spending per visitor. This aligns with a global trend of robust growth in international tourism expenditure.

• Increased air connectivity and visa facilitation have supported Africa’s recovery, enabling the region to capitalize on rising demand from large source markets like Europe and the Americas.

• These trends highlight Africa’s growing potential as a tourism destination and the economic opportunities tied to its post-pandemic recovery.

Spotted an interesting Africa graphic? Email us or drop a comment! Looking for one you saw before? Head to our archives page.

Too Long; Didn’t Read

• Angola: U.S. President Joe Biden visits the country, fulfilling a two-year promise to Africa (CNN).

• Botswana: Letsile Tebogo, a 21-year-old from Botswana was named World Athlete of the Year at the 2024 World Athletics Awards in Monaco (World Athletics).

• Chad: Govt forces the French to reduce military footprint in the country, ending a decades long defense pact (Reuters).

• Ghana: The country is set to hold general elections on December 7, 2024, with a heated race between candidates from the two main parties (APRI).

• Kenya: Manufacturers are operating at less than half capacity, with 60% freezing expansion plans, as the sector’s GDP contribution stagnates at 7% (Bloomberg).

• Mozambique: Govt braces for another week of election-related protests (Bloomberg).

• Namibia: Elects first female President, Netumbo Nandi-Ndaitwah, securing 57% of the vote (Reuters).

• Nigeria: Secures $2.2B after its first Eurobond issue since 2022 (Bloomberg).

• Rwanda: Pushes to host Africa’s first Formula 1 race since 1993, spotlighting its strategy to use major sports events to drive tourism and economic growth (Semafor).

• South Africa: Economy risks missing its 2024 growth forecast after a 28.8% contraction in agriculture in Q3, the worst in three decades, due to drought and crop losses (Bloomberg). 

• Zimbabwe: The Reserve Bank of Zimbabwe maintains Africa's highest interest rate at 35% (Bloomberg).

Business and Finance  

Francophone Tech Boom or Bust?

• Momentum: Venture capital in Francophone Africa surged eightfold from 2012 to 2020 and 2021 to 2024 H1, compared to just over a twofold increase across the continent in similar periods driven by pandemic-era tech adoption and startup-friendly policies in Côte d’Ivoire, Senegal and Rwanda.

• The Big Driver: Dakar-based Wave became the first Francophone unicorn in 2021, as rising investor interest in fintech and software-driven sectors fueled $50M+ deals across the region.

• Zooming Out: Despite rapid growth, Francophone Africa still accounts for just 10% of Africa’s private capital deals, lagging far behind Anglophone leaders like Nigeria and Kenya.

• Read more: Semafor. #StartupAfrica

Kenya’s Manufacturing Slump

• The News: Kenya’s manufacturing sector struggles as GDP contribution shrinks from 10% in 2015 to 7.6% in 2023, hampered by high taxes and shifting policies.

• Why It Matters: Uncertainty has stalled expansion plans for 60% of manufacturers, threatening jobs and economic recovery efforts.

• What’s Next: Businesses await clarity on government budgets to revive growth and restore investor confidence.

• Read more: Bloomberg.

BRICS Driving Growth

• The News: The IMF forecasts BRICS nations like China, India and Brazil will dominate global growth through 2029, outpacing G-7 countries like the U.S. and Germany.

• Why It Matters: China alone is expected to contribute 22% of global growth, more than all G-7 nations combined, underscoring a shift toward emerging markets.

• What’s Next: Rising economies like Egypt and Vietnam join the spotlight, contributing growth shares rivaling Germany and the UK. (Fingers crossed a few more African countries break out as top growth contributors before 2029!).

• Read more: Bloomberg.

Innovation in Africa

Africa’s Digital Trade Gap

• This week in Kigali: The 2024 Africa Trade Development Forum took place with leaders emphasizing the need for unified policies and systems to digitalize trade and meet the African Union’s 2030 Digital Transformation Strategy goals.

• Why It Matters: Africa’s digital economy could add $712B to GDP by 2050, but fragmented infrastructure and policies are slowing progress on the AfCFTA Digital Trade Protocol, signed by only nine nations.

• What’s Next: Leaders called for harmonized systems, digital investments and private sector engagement to create a unified trade ecosystem and unlock economic opportunities.

• Read more: KT Press.

Health in Africa 

Mpox Response Progress

• Positive Trends: Africa’s mpox response is bearing fruit, with 16 of 19 affected countries achieving high testing rates and Ghana, Zambia, Zimbabwe, Republic of Congo, Gabon, Guinea and South Africa entering the “control phase” with no new cases in 42 days respectively. 

• Challenges Ahead: The Democratic Republic of the Congo remains a hotspot, accounting for 80% of cases, with limited diagnostic capacity and logistical constraints.

• Next Steps: WHO and partners are ramping up vaccine rollouts, diagnostics and community outreach to sustain progress and tackle remaining gaps.

• Read More: WHO Africa.

Tech & Society in Africa

73% of Mozambique Offline

• Not Good: Only 7.8 million of Mozambique’s 30 million people have internet access, prompting the government to launch the $1.7B ‘Internet For All’ project to expand access by 2030.

• Why It Matters: With 73% of the population offline, limited internet access hampers participation in the digital economy, especially for women and those in informal sectors.

• What’s Next: The government has secured nearly half of the required funding and aims to make digital services inclusive by addressing affordability and infrastructure gaps. What an opportunity. 

• Read more at 360 Mozambique and dig deeper on all things digital in Mozambique here: Data Reportal.

UJ Tops African Universities

• Regional Leader: The University of Johannesburg (UJ) has been ranked as sub-Saharan Africa's top university for 2024, surpassing the University of Pretoria and the University of the Witwatersrand.

• Diverse Representation: The rankings feature 129 universities from 22 African countries, with South Africa dominating the top 10 and Nigeria having the most entries at 41.

• Global Position: UJ is placed between 401 and 500 globally, indicating areas for improvement in teaching and research to compete with leading institutions like Oxford.

• Read more: Semafor. 

Digging Deeper:

• According to a 2023 Campus France report, more African students are seeking higher education abroad, within Africa and globally. The number of African students studying abroad has steadily increased from 2000 to 2022.

• By 2020, more than 624,000 African students were studying overseas, a 41% increase from 2010 and more than double the 281,522 in 2000.

• There is also a growing trend of African students studying in other African nations.

• Popular African destinations for higher education include Cameroon, Cote d’Ivoire, Ghana, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa, Tanzania and Zimbabwe.

• Read more: Carnegie Endowment for International Peace. 

Democracy in Africa

Namibia's Historic Election

• Netumbo Nandi-Ndaitwah, 72, was elected as Namibia's first female president, securing 57% of the vote. A veteran of the ruling SWAPO party (having served as Vice President and Foreign Minister), her victory extends its 34-year governance since independence in 1990 (The Times).

• Election Challenges: The election faced issues like ballot shortages and technical glitches, leading to legal challenges from opposition parties. Panduleni Itula of the IPC party, Nandi-Ndaitwah's main opponent with 25% of the vote, plans to contest the results in court (AP News).

• Leadership Outlook: Nandi-Ndaitwah's leadership is viewed as a stabilizing force, especially among older voters and in rural areas. She has pledged to implement significant changes to tackle poverty and unemployment, emphasizing the need for land reform and a fairer distribution of wealth (Reuters).

China in Africa

China's 0% Tariffs vs. Trump’s 100% 

Wait what? On December 1, China implemented zero tariffs for all least developed countries (LDCs) with which it maintains diplomatic relations, including 33 African nations (CGTN News).

• Boosting African Exports: This policy facilitates increased access for African products like Zimbabwean oranges and Tanzanian honey into the Chinese market, aiming to enhance trade and support industrial cooperation.

• Trade Facilitation Initiatives: China supports LDCs through platforms like the China International Import Expo, offering free booths to promote exports, encouraging cross-border e-commerce and improved trade agreements. 

• Economic Modernization: Countries such as Madagascar leverage this access to boost agricultural production, benefiting local farmers and advancing technological modernization (Global Times).

• Meanwhile: U.S. President-elect Donald Trump has threatened 100% tariffs on BRICS nations if they pursue a currency alternative to the U.S. dollar, highlighting differing approaches to global trade (The Times). 

U.S. in Africa 

Biden Visits Angola

President Joe Biden fulfilled a promise to visit Africa, with a three-day trip to Angola aimed at bolstering U.S. investments and countering China’s growing influence.

• Why It Matters: Biden highlighted the $553M U.S. loan for the Lobito Corridor railway, part of a $1.7B project to facilitate critical mineral exports and rival China’s Belt and Road Initiative.

• What’s Next: The trip underscores a U.S. shift from aid to investment-focused partnerships in Africa, with long-term implications for U.S.-Africa relations and global influence.

• Read More : Bloomberg, Atlantic Council, New York Times.

Sports in Africa 

Tebogo's Triple Triumph

Botswana's Letsile Tebogo at just 21 was named Men's World Athlete of the Year this week after a historic season:

• 200m Gold: Secured Botswana's first Olympic gold with an African record of 19.46 seconds.

• 4x400m Silver: Anchored the team to silver, setting an African record of 2:54.53; his 43.04 second split is among the fastest ever.

• 100m Finalist: Finished sixth in the 100m final, setting a national record of 9.86 seconds.

Tebogo dedicated his achievements to his late mother and expressed gratitude to his support team. Read more: World Athletics.

Explorations in Africa

No Big Surprise: “Cape Town Wins It”

• If you have a subscription to The Africa Report, don’t miss their analysis of the top 30 most attractive African cities. 

• The Winners: Cape Town, Kigali, Johannesburg, Casablanca, Rabat…and #6…Nairobi.

• The first of its kind ranking, assesses factors such as urban planning, infrastructure, quality of life and business appeal.

• It's exciting to see so many cities on the continent take their game up! 

• Read more: The Africa Report.

Africa Trivia Response

Answer: C) Algeria. Read More: Britannica

P.S. We hope you enjoyed the Brief! Reach out if you have ideas or feedback ([email protected]) See you next week.