Tired of the status quo🥱😩
Hello Venturer,
If you've been keeping tabs on global economic trends, you would realise that more than 50 per cent of countries are experiencing a rise in food prices. The most affected is the African continent which houses the majority of emerging markets.
Many African economies have been struggling long before the COVID-19 pandemic. Insecurity, unemployment, underemployment, corruption, and poor governance are some of the continent's fundamental problems. Now young people are responding with resistance. That's why we've seen coup d'etat in countries like Mali, Guinea, Chad, and more recently, Burkina Faso.
In Nigeria, the economy is no different and more young people are becoming politically conscious. On the 1st of October, the youth defied government orders to hold a peaceful march to assert their political will.
Does this mean Nigerians are tired of the status quo? Find out how Nigerians are reimagining the nation of their dreams in this week's publication.
Ishioma Emi,
Staff Writer, Ventures Africa.
What's new?
Imagine Nigeria: A roadmap to a new Nigeria.
Many Nigerians envision a different Nigeria, a better Nigeria to live and thrive in. Sadly, these visions and dreams remain just that. Africa’s giant has been through a series of political and economic turmoil since the green-white flag soared high on the 1st of October 1960. Read more.
Nigeria at 62: A cocktail of hardship, disillusionment, and an eminent revolution.
As the Giant of Africa marks its 62nd independence anniversary, young people across the country took to the streets in a peaceful match to identify with the political representation of an ideology they hope to install into power by the 2023 elections. Read more.
Nigeria’s borrowing plans are at risk.
Nigeria doesn’t need Eurobonds to only plug its budget hole. It also wants to supplement its depleting foreign reserve. Nigeria earns most of its foreign exchange through the oil sector. But it recently lost its oil giant status to vandalism and mismanagement. Read more.
How Google’s cloud region will impact South Africa.
With the Google Cloud, users can access several services, including cloud storage, computing engines, and pivotal management systems. Also, users across the continent can improve access and user experience for their customers. Read more.
My Pivot Journal: A pharmacist’s journey to teaching data science in Yoruba.
For Oyewusi, finding out about tech was purely by chance. Tech was not part of the options she envisaged she could explore career-wise. But being open-minded often influenced her into reading random job roles and descriptions. Read more.
Weekly Economic Index: African central banks are raising interest rates
On Tuesday, September 27 2022, Nigeria’s central bank (CBN) increased the country’s benchmark interest rate to a 20-year high of 15.5 per cent from a previous 17-year high of 14 per cent. This hike was more than anyone had expected. Read more.
VA BIZ HIVE: The Agric Issue
The need for a technological footprint has given rise to an agritech ecosystem on the continent. Startups in this space are proferring technological solutions to problems faced in the agricultural sector with ultra-modern technologies like drones, automated irrigation systems, soil sensors, etcetera. Read more.
Twitter Space:
Globally, there has been an increase in funding for climate tech startups. The year 2022 recorded a rise in VC funding for green tech startups. Last year, PwC reported that investments in climate tech surged in the first half of 2021 to $ 87.5 billion globally from $28 billion in the second half of the previous year. In the second quarter of this year, a record $1.4 billion was invested in climate-focused startups. Venture capital funds like Y Combinator, Lower carbon Capital, and Tech-stars contributed to the 47 per cent increase in investments in climate-tech startups in the first half of 2022 compared to the same period last year.
Set a reminder: Is there a future for climate tech in Africa?
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