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Top 5 Fastest-growing Sectors In Africa

Published

9 months ago

November 4, 2024

Africa is a large and vibrant continent with many cultures, natural resources, and a big potential for growth. Many African countries are making changes to improve their economies and investing in important industries. This effort is helping jobs grow fast, raising productivity, and boosting local economies.

Africa’s economy is growing quickly, with more people and expanding cities adding to the momentum. Key countries like Nigeria, South Africa, and Kenya are attracting investments from around the world. Here are some of the top sectors driving Africa’s economic growth.

1. Fintech

Fintech is one of Africa’s fastest-growing sectors. Fintech startups are making banking and payments more accessible for millions of people across the continent. Africa is now home to several “unicorn” fintech startups, including Flutterwave, ChipperCash, and Fawry. Many other startups, such as TeamApt and Kuda Bank, are close to achieving unicorn status. Fintech has strong growth potential and attracts substantial investment.

2. Transport and Logistics

Africa’s transport and logistics sector is expanding due to urban growth and increased trade. More goods and people are moving across the continent, raising the need for efficient logistics. Investments in infrastructure are also increasing, which is strengthening the logistics sector in Africa.

3. Telecommunications

Telecommunications is one of Africa’s most promising sectors, with a large gap in internet access and mobile connectivity. More people are gaining access to affordable data and mobile services. Companies like MTN Group, Orange Africa, and Vodafone are expanding quickly. In 2021, MTN Group made $5.6 billion, with 277 million users, while Orange Africa and Vodafone had revenues of $6.8 billion each. This sector is expected to keep growing as demand rises.

4. Real Estate

As Africa’s population grows, so does the demand for housing and commercial spaces. Many new projects, like residential developments and co-working spaces, are appearing across the continent. Both residential and commercial real estate are expected to keep expanding to meet the needs of Africa’s cities.

5. AgriTech

Agriculture is a large part of Africa’s economy, and technology is transforming the sector. AgriTech startups use digital solutions to improve efficiency, reduce costs, and solve supply chain issues. For example, Nigerian startup ThriveAgric raised $58 million in 2023 to help small farmers, and Ghana’s Farmerline secured $12.9 million to provide farmers with quality supplies and financial resources. AgriTech is making agriculture more efficient and attractive to investors.

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Travelling To US To Give Birth For Citizenship Illegal — US Mission

Published

14 minutes ago

August 6, 2025

Editor

The US Mission in Nigeria has cautioned Nigerians, especially expecting mothers, against travelling to the United States solely to give birth and secure US citizenship for their children.

In a post on its official X account on Wednesday, the Mission stressed that such birth tourism is not permitted under US visa regulations and carries the risk of outright denial.

It said, “Using your visa to travel for the primary purpose of giving birth in the United States so that your child will have U.S. citizenship is not permitted.”

It added that consular officers will refuse any visa application if there is reason to believe that birth tourism is the applicant’s intent, a warning aimed at sparing travellers the expense and disappointment of rejection.

“Consular officers will deny your visa application if they have reason to believe this is your intent, ” the post read.

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Shooter Injures Five Soldiers At US Military Base

Published

1 hour ago

August 6, 2025

Editor

A shooter wounded five soldiers at Fort Stewart before being apprehended by law enforcement on Wednesday, the US military base said.

“All soldiers were treated on-site and moved to Winn Army Community Hospital for further treatment,” said a post by the official Facebook page of the base, which is located in the southern state of Georgia.

The base went into lockdown shortly after law enforcement was dispatched to respond to the incident, according to the post, which said the shooter was now in custody, but provided no details about their identity or potential motive.

“There is no active threat to the community,” the post said, adding: “The incident remains under investigation and no additional information will be released until the investigation is complete.”

Press Secretary Karoline Leavitt said in a post on X that President Donald Trump has been briefed on the shooting and that the White House is “monitoring the situation.”

Though relatively rare, military facilities have not been left untouched by the epidemic of gun violence plaguing the United States, where conservative politicians have sought to block many restrictions on firearms.

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Ghana Defence, Environment Ministers Killed In Helicopter Crash

Published

2 hours ago

August 6, 2025

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Ghana’s defence and environment ministers were killed in a helicopter crash Wednesday, the Ghanaian presidency said, hours after the armed forces reported a chopper carrying three crew and five passengers dropped off the radar.

Edward Omane Boamah became President John Mahama’s defence minister earlier this year shortly after Mahama’s swearing-in in January.

Ibrahim Murtala Muhammed was serving as the minister of environment, science and technology.

Everyone onboard was killed in the accident, authorities said.

“The president and government extend our condolences and sympathies to the families of our comrades and the servicemen who died in service to the country,” said Mahama’s chief of staff Julius Debrah.

Boamah was helming Ghana’s defence ministry at a time when jihadist activity across its northern border in Burkina Faso has become increasingly restive.

While Ghana has so far avoided a jihadist spillover from the Sahel — unlike neighbours Togo and Benin — observers have warned of increased arms trafficking and of militants from Burkina Faso crossing the porous border to use Ghana as a rear base.

A medical doctor by training, Boamah’s career in government included stints as communications minister during Mahama’s previous 2012-2017 tenure. Before that, he was the deputy minister for the environment.

The Ghanaian Armed Forces had reported earlier Wednesday that an air force helicopter had fallen off radar after taking off from Accra just after 9:00 am. It had been headed towards the town of Obuasi, northwest of the capital.

The statement had said that three crew and five passengers were aboard, without specifying at the time that the ministers were among them.

Alhaji Muniru Mohammed, Ghana’s deputy national security coordinator and former agriculture minister, was among the dead, along with Samuel Sarpong, vice chairman of Mahama’s National Democratic Congress party.

As Ghana has pursued increased diplomacy with Burkina Faso, Mali and Niger — all ruled by juntas who have broken with the ECOWAS west African regional bloc — Boamah led a delegation to Ouagadougou in May.

He had been set to release a book titled “A Peaceful Man in an African Democracy”, about former president John Atta Mills, who died in 2012.

All flags were to be flown at half-staff, Debrah said, while the presidency said Mahama had cancelled his official activities for the day.