UK’s Climate Finance Accelerator launches in Egypt to support low-carbon projects
The Climate Finance Accelerator (CFA), a technical assistance programme funded by the UK government, will support promising low-carbon projects in Egypt and connect them with investors. Applications for the four-year programme will open next month, with each accelerator cycle for the selected project developers lasting six to nine months.
Government’s new plan to crack down on copper theft in South Africa
The Department of Trade, Industry and Competition (DTIC) has gazetted its draft policy proposals to regulate and restrict the trade of scrap metal in South Africa for public comment. Citing research from the Trade and Industrial Policy Strategies and Genesis Analytics, DTIC said copper theft from the country’s rail network and electricity grids carries an annual economic cost exceeding R45 billion in 2020/2021.
Benefits of Central Bank Digital Currencies for African Countries
Genesis has been doing some fascinating work in the Central Bank Digital Currency (CBDC) space and the blog sets out our argument for why central banks in developing countries should explore CBDC. Financial Services Strategy partner Bavani Naidoo explores the benefits here.
Why Ethiopia’s local fintechs are worried
When Ethiopia’s prime minister, Abiy Ahmed, came into power in 2018, his administration’s move to liberalise sectors which had remained closed for over a century, was initially met with optimism. One of the biggest moves was in ending the monopoly of the telecom sector, which saw the Kenyan telcom giant, Safaricom, awarded Ethiopia’s first ever private telecom license for a whopping $850 million last year. Is this a good thing?
Mark is now partner in our Centre of Digital Excellence
Congratulations to Mark Schoeman who was made a partner at Genesis Analytics. Mark has been at Genesis for more than six years and started in Financial Services before branching out to set up the Centre of Digital Excellence. On hand to congratulate him were seven of the 13 partners who are in Joburg.
Google's Equiano subsea cable has landed in Lagos
The state-of-the-art Equiano subsea cable has landed in Lagos, Nigeria. Next stop is Namibia.
The Google cable, which starts in Portugal and runs more than 12,000km along the West Coast of Africa, first landed in Lomé, Togo. From Nigeria it will run to Swakopmund in Namibia and Rupert’s Bay at Saint Helena before landing at Melkbosstrand in South Africa. The cable will establish a valuable new high-capacity connection between the African continent and Europe.
Unclaimed pension benefits increased to over R47bn
The Financial Sector Conduct Authority's (FSCA) published the Financial Sector Outlook Study 2022 in which it details progress made in finding people with unclaimed monies in pension funds and guardian funds. The study, done by Genesis Analytics in partnership with the FSCA, reviewed the South African financial landscape and describes the financial industries regulated by the authority.
Google’s new submarine cable is now operational in Africa
A subsea cable owned by Google that promises to double the internet speeds for millions of people in Africa has arrived in Togo. This is the latest step in a long-term project to make internet access more affordable for people across the continent. According to a financial impact study completed by Africa Practice and Genesis Analytics, Equiano is predicted to result in quicker internet speeds, enhanced user experience, and lower internet rates.
Google’s Equiano cable to land in South Africa this June
Google will land its high-capacity Equiano submarine cable system at Melkbosstrand, north of Cape Town, in June. According to an assessment report commissioned by Google and conducted by Africa Practice, in collaboration with Genesis Analytics, the subsea cable will lower latency and almost triple internet speeds in SA and Namibia by 2025 – a boost that is predicted to create 180 000 jobs in SA, 1.6 million jobs in Nigeria and 21 000 jobs in Namibia in the forecast period.