Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.
It’s one of the clearest expressions of the growing middle class in many African countries — a burgeoning demand for shopping malls, each more lavish than the one before.
Start-ups are thriving and helping to change perceptions of business in Africa. As ever-increasing numbers of cars clog the streets of African cities, trade flourishes along congested highways.
While South Africa is the largest market in Africa for the international fast food brands, it is not the only target. In Kenya, there is a quiet change going on and while local restaurants do not feel threatened yet, analysts say it is only a matter of time.
Haron Sirima, Deputy Governor of the Central Bank of Kenya, is the favorite to succeed current Governor, Njuguna Ndung’u, when his term expires on March 3, according to two people with knowledge of the discussions.
South Africa may have lost its title as Africa’s largest economy to west African powerhouse Nigeria, but it outstrips the rest of the continent in terms of the size and depth of its capital markets, the scale of its corporate sector and the development of its infrastructure.