Afreximbank Increases CANEX Funding to $2B for Africa

Afreximbank has announced a major boost to Africa’s creative economy, increasing its funding for the Creative Africa Nexus (CANEX) programme from $1 billion to $2 billion over the next three years. This commitment, made during the CANEX WKND 2024 opening ceremony in Algiers, highlights the Bank’s dedication to supporting Africa’s creative industries, which are showing tremendous potential for growth across sectors like film, music, fashion, and sports.

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Verve International Surpasses 70M Issued Payment Cards

Verve International has achieved a remarkable milestone by issuing over 70 million payment cards, representing a 40% increase in issuance volumes within just 15 months. This rapid growth is a testament to Verve’s significant role in Nigeria’s domestic payment ecosystem, where the demand for secure and convenient payment solutions continues to rise. The achievement not only underscores Verve’s dominance but also reflects its ability to scale effectively to meet the evolving needs of users across the country.

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Deep Tech Summit Unveils Uganda’s New Innovation Strategy

Uganda has launched a pioneering Deep Technology Strategy aimed at driving economic growth and fostering innovation. This significant initiative was unveiled during the inaugural Deep Technology Summit held in Kampala, organized by the Science, Technology, and Innovation Secretariat in collaboration with Open Start-up Tunisia and FutureLab. The summit served as a platform for local and international experts to come together and shape Uganda’s deep tech strategy, ultimately attracting investment to the sector.

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Malawi to Locally Produce Affordable Smartphones

The Malawi Communications Regulatory Authority (MACRA) has announced plans to address the significant digital divide in the country, where 40% of citizens currently lack internet access. To bridge this gap, MACRA is set to launch a local smart device assembly program aimed at producing affordable mobile phones. While no specific timeline has been provided, this initiative represents a crucial step towards enhancing digital inclusion in Malawi.

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