Top 5 Africa Business News to Watch in 2021
Africa is home to some of the fastest-growing economies in the world. Even amidst the pandemic, the continent has continued to show potential for growth and development. Here are the top 5 business news stories to watch in Africa for 2021.
1. African Continental Free Trade Area (AfCFTA)
One of the biggest business news stories to watch in Africa in 2021 is the implementation of the AfCFTA. This free trade agreement aims to create a single market for goods and services in Africa, making it the largest free trade area in the world. With member nations ratifying the agreement, we can expect an increase in cross-border trade and investment.
2. Digital Payments and Fintech
The pandemic has highlighted the importance of digital payments and fintech in Africa. From mobile money to online banking, businesses are rapidly adopting digital solutions to manage transactions and grow their customer base. As the African economy continues to develop, fintech will only become more important.
3. Renewable Energy
Renewable energy is another important business news story to watch in Africa for 2021. With vast solar and wind resources, the continent is poised to become a leader in renewable energy generation. This presents immense opportunities for investors and businesses in the energy sector.
4. Health Tech
The pandemic has also highlighted the importance of health tech in Africa. From telemedicine to e-health platforms, businesses are increasingly adopting solutions that improve access to healthcare. In 2021, we can expect more growth in this sector, with businesses leveraging technology to provide affordable and accessible healthcare across the continent.
5. Agriculture
Finally, the agriculture sector remains a crucial business news story in Africa for 2021. With a large portion of the continent’s population engaged in agriculture, there is significant potential for growth and development. Businesses that provide solutions to improve productivity, reduce food waste, and increase access to markets will be well-positioned to succeed.
In conclusion, the African business landscape presents investors and businesses with immense opportunities. From the AfCFTA to renewable energy and health tech, there are multiple sectors that are poised for growth in 2021 and beyond. Businesses that can navigate these opportunities will be well-positioned to succeed in the African market.
