The report is released at a time when Africa is experiencing a significant generational shift in politics, increased continental connectivity, and the rapid emergence of transformative technologies

LONDON, United Kingdom, September 25, 2024/APO Group/ — 

Leading global specialist risk consultancy, Control Risks (www.ControlRisks.com), and its economics consulting partner, Oxford Economics Africa (www.OxfordEconomics.com), today announced the launch of the ninth edition of the Africa Risk-Reward Index. This authoritative report is designed to provide policymakers, business leaders, and investors with a comprehensive guide to navigating the evolving investment landscape across key African markets.

Download document: https://apo-opa.co/3zu16yU

The report is released at a time when Africa is experiencing a significant generational shift in politics, increased continental connectivity, and the rapid emergence of transformative technologies that could potentially propel its progress. This pivotal moment presents both opportunities and challenges for businesses operating in African markets, but also risks exacerbating fragilities in some African countries.

Africa’s outlook is promising. But understanding the nuanced market dynamics and adopting a long-term perspective will be essential for stakeholders — from policymakers and investors to development agencies and civil society — as they navigate the evolving landscape to successful investment outcomes in 2024 and beyond. For African countries and investors looking to invest or grow their business in Africa, the time is now.

In the ninth Africa Risk-Reward Index, Control Risks and Oxford Economics Africa compare some of the continent’s largest and emerging markets, offering investors a comparative snapshot of market opportunities and risks across Africa in the year ahead.  

The report examines three key themes outlined below, summarising Control Risks’ and Oxford Economics Africa’s views on Africa’s trajectory in the year ahead.

Bridging the generational divide – a new era for African politics

The report’s first theme focuses on how African political leaders are increasingly mindful of their young, growing populations. Recent events have shown that young people are becoming more frustrated with governance, impatient with development, and disillusioned with political establishments. This discontent has manifested in some surprising election results, youth-led protests, and some policy shifts.

Patricia Rodrigues, Associate Director at Control Risks, said, “The 2024 Africa Risk-Reward Index provides crucial insights into the dynamic changes shaping investment opportunities across the continent. As Africa faces a period of significant political and economic shifts, our report highlights both the potential rewards and the risks that investors must consider. This year’s edition emphasizes the importance of understanding the complex interplay between emerging technologies, infrastructure developments and geopolitical influences to make informed and strategic investment decisions.”

In South Africa, the ruling party lost its parliamentary majority in the May 2024 elections. In Senegal, the opposition candidate achieved a resounding victory, further illustrating the changing political dynamics in the region. In Kenya, young people organised nationwide protests that led the president to dismiss the entire cabinet.

Businesses must now operate in a less predictable security and policy environment, as governments strive to balance investment attraction with rising societal demands.

As Africa faces a period of significant political and economic shifts, our report highlights both the potential rewards and the risks that investors must consider

White elephants and lifelines – the megaprojects reshaping the continent

Over the past decade, Africa has witnessed a significant surge in infrastructure investment, with large-scale energy, port, and rail projects taking centre stage. These megaprojects are often seen as catalysts for transformative economic growth, addressing long-standing deficiencies in trade corridors and enhancing connectivity across the continent.

However, these ambitious projects are not without their challenges. Questions about these ventures’ true cost, long-term utility, and the transparency of the deals underpinning them have sparked heated debates across the continent. Many of these megaprojects have been financed through government-to-government agreements, often accompanied by concerns over opaque terms, lack of local involvement, and the potential for unsustainable debt burdens.

Geopolitical dynamics also play a significant role in shaping Africa’s infrastructure landscape. While China has historically dominated infrastructure investment on the continent, other global powers are increasingly vying for influence. The US, Gulf countries, and other geopolitical actors are stepping up their efforts to fund and develop critical infrastructure projects in Africa, driven by competition for access to natural resources and strategic positioning in the global economy.

This has resulted in a more complex and competitive environment, where African governments and businesses alike have to carefully navigate competing interests and align their infrastructure needs with their long-term goals.

Emerging technologies – supercharging economic development

The advent of artificial intelligence (AI) is poised to unlock new opportunities for innovation across Africa. AI applications in agriculture, climate adaptation, healthcare, and education offer the potential to accelerate economic growth. However, African governments risk lagging their global counterparts in regulating these technologies. Countries like Morocco, Rwanda, and South Africa are taking proactive steps, but others may adopt a more cautious approach, leading to a fragmented regulatory landscape.

Jacques Nel, Head of Africa Macro at Oxford Economics Africa, added, “The 2024 Risk-Reward Index reveals a continent in flux, where significant shifts in political landscapes and economic conditions are reshaping the investment environment. This year’s report highlights the dual nature of Africa’s growth prospects – offering substantial opportunities while also presenting considerable risks. Our insights aim to equip stakeholders with the knowledge needed to make strategic decisions and utilize all the continent has to offer for sustainable growth.”

Investment Landscape Outlook

The 2024 Africa Risk-Reward Index continues to provide a grounded, long-term perspective on investment opportunities and challenges across major African economies. The report examines the shifting economic and political dynamics that are reshaping the continent’s risk-reward profile and offers actionable insights for stakeholders seeking to make informed decisions in this complex environment. African countries are at the intersection of global competition for resources, new trade corridors, and digital innovations. This index serves as a valuable tool for those looking to navigate the continent’s diverse markets and capitalize on emerging opportunities.

Methodology 

The Africa Risk-Reward Index is defined by the combination of risk and reward scores that integrate economic and political risk analysis by Control Risks and Oxford Economics Africa.  Risk scores from each country originate from the Economic and Political Risk Evaluator (EPRE), while the reward scores incorporate medium-term economic growth forecasts, economic size, economic structure, and demographics.  

For details on the individual risk and reward definitions, please contact us at:

communicationsEMEA@controlrisks.com or africa@oxfordeconomics.com 

To request a copy of the report please contact: tracy.walakira@apo-opa.com 

Distributed by APO Group on behalf of Control Risks Group Holdings Ltd.

2024 Annual Impact Report reveals how M-KOPA is deepening digital and financial inclusion across Africa

NEW YORK, United States of America, September 24, 2024/APO Group/ — 

M-KOPA (https://M-KOPA.com/), a leading emerging market fintech, announced that it has surpassed 5 million customers across Kenya, Uganda, Nigeria, Ghana and South Africa. Two million of these customers have come onboard in the past 15 months.

M-KOPA’s innovative model makes affordable smartphones embedded with financial services available to ‘Every Day Earners’: the wide majority of African adults who earn their income daily but struggle to afford smartphones and typically fail to qualify for conventional financial services. According to the World Bank, 75% of adults in sub-Saharan Africa remain financially excluded. To date, M-KOPA has supported its customer base with more than US $1.5 billion in financing.

Starting with smartphone access, customers gain entry to the digital economy with an affordable daily repayment model, which fits their daily income and cash flow and makes it easier to manage. By leveraging rich payments data and proprietary AI-driven analytics, M-KOPA builds a credit record for each customer which forms the foundation for a long-term financial relationship for lower cost digital loans, affordable data subscriptions and medical insurance.

According to M-KOPA co-founder and CEO, Jesse Moore: “We are thrilled to welcome our 5 millionth customer to M-KOPA this month. The scale of our operations and our positive impact on customers is what keeps us working hard to go even further. We’re just getting started; the opportunity for much larger impact and scale is right in front of us.”

M-KOPA also published its 2024 Impact Report this week, in which the company annually releases its progress against key social and environmental impact metrics.  As with prior reports, the 2024 survey of M-KOPA customers was undertaken by a third-party company – Dalberg Research.

Our impact extends beyond our customers, reaching their families and communities, and contributing to building a more sustainable world

Key impact highlights from the 2024 report include:

• 92% confirm that M-KOPA’s financing has made technology more affordable.
• 80% of customers report an improved quality of life thanks to M-KOPA’s products.
• 70% credit M-KOPA with helping them achieve their financial goals, demonstrating the company’s contribution to financial empowerment.
• 62% use their M-KOPA product to generate income

The company is having a major impact in improving digital access in Africa. Nearly 2 million customers are first-time mobile internet users and 40% are women. M-KOPA also built the first and largest smartphone assembly factory in Kenya – which has produced more than 1m phones locally and further reduced the cost of access.

As with prior reports, M-KOPA’s board and management use the annual impact report to help shape forward company strategy. Based on this year’s findings, M-KOPA is working to further increase its percentage of female customers to 50%, to reduce its carbon footprint by making circularity central to its smartphone supply chain, and to continue pioneering green products like electric motorbikes that contribute to the health and sustainability of the communities where it operates.

M-KOPA’s Chief Product Officer Nena Sanderson, notes: “Our product and services build pathways to prosperity for our customers and agents, enabling them to overcome financial setbacks, generate income and progress towards the futures they aspire to. Our impact extends beyond our customers, reaching their families and communities, and contributing to building a more sustainable world.”

Headquartered in London, UK, M-KOPA now creates employment for more than 3,000 staff and 30,000 commission-based sales agents across Kenya, Uganda, Nigeria, Ghana and South Africa.  The company has been recognised by the Financial Times as one of Africa’s Fastest Growing Companies for the past 3 years, and by Time Magazine as one of the 100 Most Influential Companies globally for the past 2 years.

To read the full report, download it here: M-KOPA Impact Report 2024_Pathways To Progress  (http://apo-opa.co/3Xv5PZ6).

Distributed by APO Group on behalf of M-KOPA.

Following several successful partnerships launching Camara-compliant Network APIs under the GSMA Open Gateway initiative, telcos and MNOs globally want to launch and monetize emerging and future services

CASABLANCA, Morocco, September 24, 2024/APO Group/ — 

Global communications platform Infobip (www.Infobip.com) is bringing together global mobile telecoms business Nokia, mobile industry association GSMA, leading Croatian telco Croatian Telekom (Hrvatski Telekom) and other companies at its leading developer-focused conference Shift this year.

Following several successful partnerships launching Camara-compliant Network APIs under the GSMA Open Gateway initiative, telcos and MNOs globally want to launch and monetize emerging and future services. Many firms still need better relationships with developers to do so quickly and efficiently. That’s why MNOs are attending Infobip Shift this year.

Matija Ražem, VP of Business Development at Infobip, said: “We are among the first to support the Camara project and the GSMA Open Gateway initiative, and closely working with telcos to deliver new added-value services. Our collaboration with Nokia, GSMA, and other MNOs at Shift Zadar shows how we work with our telco partners to expose customer experience-friendly APIs to developers”.

Our collaboration with Nokia, GSMA, and other MNOs at Shift Zadar shows how we work with our telco partners to expose customer experience-friendly APIs to developers

At Shift, Elmo, a tech-automotive company, will present its remote driving technology where attendees can drive a car in Finland through a console in Croatia. Elmo worked with Nokia to implement its Network as a Code API to control Elmo cars remotely by operating the remote consol through the wireless 5G Campus network of Croatian Telekom and will count on Infobip’s and Croatian Telekom’s support to bring this experience in this year’s Shift Zadar edition to the guests.

“The work of building the Network API ecosystem has advanced remarkably well this year. This important developer event that our partner, Infobip, is hosting further underlines the strong appetite in that ecosystem to come together to share the latest information and solutions as we progress with making it easier for developers around the world to utilize network capabilities and develop new use cases for their customers,” said Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network Services at Nokia.

For GSMA – one of the main Shift Zadar sponsors this year – the Open Gateway initiative has a crucial role in the ecosystem of Telco APIs combined with CPaaS APIs. “The GSMA Open Gateway initiative is going from strength to strength and has culminated in the birth of a new API era. We want to nurture and grow this opportunity and provide access to developers, cloud providers, and telcos so they can launch game-changing new services. Our presence at Shift helps drive awareness of this opportunity and ensure its growth,” said Henry Calvert, Head of Networks at GSMA.

As one of the companies participating in Shift Zadar and providing the underlying communication technology for the Elmo remote driving experience, Boris Drilo, Chief Technical & Information Officer (CTIO) at Croatia Telekom, said: “Network APIs are bringing the engagement of our customers and their favorite brands to the next level. Croatian Telecom offers this new business capability to Croatian businesses, bringing them eye-to-eye with their European peers. Telecom network capabilities exposure to developers has never been easier or simpler, revealing great possibilities. GSMA’s Open Gateway Initiative is making this approach scalable, creating the foundation for the rapid introduction of new use cases throughout telecom operators’ footprints. Croatian Telekom is opening the door to this new opportunity for all our partners to deliver their services in Croatia”.

As a great promoter and participant in the Open Gateway initiative, and one of the main guests at Shift Zadar 2024, Cedric Gonin, API Business Strategy and Channel Management Director at Orange, said: “Making Network APIs accessible to developers is fostering innovation in several industries. At Orange, we are committed to share our APIs with developers and partners to experiment and implement new solutions. Our participation in the Infobip Shift event highlights our dedication to empowering the developer community with innovative tools that enable the creation of tomorrow’s digital services through the CAMARA API within the Open Gateway initiative.”

See the Shift agenda here: https://apo-opa.co/47G7cbT

Distributed by APO Group on behalf of Infobip.