Seeds of Opportunity: The African Growth Series
May 2023 | Issue 2
In this week's issue, you will learn more about:
- AFRICA OPPORTUNITY: Booming Blockchain Market
- AFRICA TREND: Improving Logistics Efficiency in Africa
- BUSINESS DAY TV INTERVIEW: The Opportunity of Critical Metals in Africa
- UPCOMING EVENT: ENLIT AFRICA 2023
- UPCOMING EVENT: Big 5 Construct Southern Africa
AFRICA OPPORTUNITY: Booming Blockchain Market
In 2022, African blockchain startups experienced a 429% increase in funding, raising US$474 million and outpacing global funding growth. Blockchain companies attracted US$304 million in funding during the first half of 2022, nearly triple the US$127 million total raised in 2021. The number of deals grew by 12% and focused on infrastructure, personal identification, record-keeping, and financial independence. Despite the global increase in blockchain deals, Africa was the only region to see growth in all deal sizes. Suggesting that African blockchain startups are securing larger investments and investor confidence is rising. Seychelles-based Kucoin and Scroll.io emerged as the continent's first blockchain "unicorns" since they are valued at US$1 billion or more. Although interest is rising in Africa's blockchain market, educating the population and C-level executives on the value blockchain can bring to Africa is crucial for further growth and progress. Blockchain enhances transparency and accountability, increases financial inclusion, strengthens cybersecurity, advances innovation, and more robust customer identity management. This technology can empower Africans by granting them financial autonomy without government interference while also offering a lower-risk alternative due to its decentralised nature.
AFRICA TREND: Improving Logistics Efficiency in Africa
The Logistics Performance Index (LPI) 2023 points to a recovery path for developing regions like Africa which felt the brunt of disruptions from the Covid-19 pandemic geopolitical tensions. The last three years have been a challenge for global supply chains, with impacts on international trade and economic growth. Local markets that showed improvements include South Africa ranked 19th of 139 countries surveyed and first in Africa, followed by Egypt, Benin Republic, Botswana, Namibia, Djibouti, and Rwanda. The metric measures the ease of establishing reliable supply chain connections and the quality of logistics services, trade, transport-related infrastructure, and border controls. The highest common challenge in African ports has largely been delays and infrastructure efficiency. Still, the 2023 figures positively reveal improving end-to-end supply chain digitalisation, in emerging economies, which has resulted in countries shortening port delays by up to 70% compared to those in developed countries. The positive sentiment is also contributing to investment attraction. Aside from delay shortening the industry is seeing a rising demand for green logistics, with 75% of shippers looking for environmentally friendly options when exporting to high-income countries. African logistics players seeking to ride the recovery wave must closely align with these ever-changing market trends.
BUSINESS DAY TV INTERVIEW: The Opportunity of Critical Metals in Africa
BusinessDay TV recently spoke to Frost & Sullivan Africa Consultant Patrick Prestele to get his take on the challenges and opportunities facing the critical metals industry in Africa.
Patrick also discusses the importance of sustainable and responsible mining practices and the need for conducive policies and regulatory frameworks to attract investment in infrastructure, technology, and human capital.
Learn more here: https://youtu.be/Wji9MLfiVWg
UPCOMING EVENT: ENLIT AFRICA 2023
Frost & Sullivan Africa is excited that its Partner & CEO, Hendrik Malan will be speaking at Africa’s Most Influential Power, Energy & Water Conference and Expo; Enlit Africa on the 18th of May. His topic titled ‘’Tracking Project Development in Africa’’ will provide an update on the latest infrastructure investment progress across Africa. It will also highlight the direction of the funding as well as the pipeline of opportunities currently undergoing viability assessment. The analysis is based on Frost & Sullivan’s Infrastructure Barometer which tracks project data on a monthly basis which is then combined with its sector insights.
To learn more about Enlit Africa Visit: https://lnkd.in/d4Z2ya8N
⚡SECURE YOUR FREE ENLIT AFRICA PASS HERE: https://lnkd.in/dnhkSJB8
⚡Unlock more opportunities & purchase your exclusive delegate pass here: https://lnkd.in/dGeQQ8gt
UPCOMING EVENT: Big 5 Construct Southern Africa
If you’re looking for the latest products and innovative technologies in the construction industry then you should attend Big 5 Construct Southern Africa.
Welcoming thousands of construction industry professionals, the event has an excellent line-up of over 200 local and international exhibitors, who will be showcasing thousands of products and technologies.
Register now for your free pass at https://bit.ly/3LmJzvE and save time by finding the right solutions for your business, all under one roof.
📍 GALLAGHER CONVENTION CENTRE
JOHANNESBURG, SOUTH AFRICA
📅 27-29 JUNE 2023
To find out more about opportunities in Africa, please get in touch with Lynne Martin.
