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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub-saharan Africa. This week, we reviewed an article from The Exchange on Ecowas unveiling a roadmap for its single currency. The Economic Community of West African States (ECOWAS) aims to launch a single currency for its member states. The new road map and a new convergence pact would cover the period between 2022–2026, with 2027 being the launch of the ECO, the single currency. Jean-Claude Kassi Brou Jean-Claude, the president of ECOWAS, noted that the member countries are banking on the single money to go…


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According to GSMA, in 2020, Africa had 562 million registered mobile money accounts, representing a 12% growth from 2019. The total transaction value of money changing hands throughout the year was a whopping $495 billion, representing 65% of the global mobile money transactions. By far, East Africa took the highest share of the transaction value representing 57% of the $495 billion, followed by West Africa with $178 billion of the total transaction value. Central Africa, North Africa and Southern Africa accounted for less than 10% of the total transaction value, indicating nascent opportunities ripe for disruption. Nevertheless, Southern Africa continues…


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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub-Saharan Africa. This week, we reviewed “Why the extent of intra-African trade is much greater than commonly believed — and what this means for the AfCFTA” by Andrew Mold and Samiha Chowdhury from Brookings Institution. Unfortunately, there’s a flawed belief around the significance and scale of Intra-African trade in academic and policy-making circles. As a result, there’s always minimisation of the scale of Intra-African trade compared with other regional counterparts. Fortunately, the situation on the ground couldn’t be further from the truth.

Three errors drive…


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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub-saharan Africa. This week, we reviewed Unga Group Plc Half-year Earnings drop of 44.8% to KSh 83.5 Million by Jackson Okoth from The Kenyan Wall street.

Unga group — the Kenya based holding company with a significant shareholding in the human and animal nutrition industry has reported a decline in half-year earnings for 31st Dec 2020. An unfavourable business climate and weak demand arising from the effects of the COVID-19 pandemic have contributed to the net earnings decline. The weakening shilling has also led to…


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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub Saharan Africa. This week, we reviewed AfCFTA: 100 days since the start of free trading, prospects seem bright by Kingsley Ighobor from Africa Renewal. It’s well over 160 days since free trading kicked off under the AfCFTA. Two Ghanaian companies, Kasapreko and Ghandour Cosmetics, made history as the pioneer exporters under the AfCFTA preferences. Africa’s free trade area represents a decisive step toward the continent’s long-held regional integration aspiration and rekindles hope for post-pandemic recovery. The Head of the AfCFTA secretariat, Mr Wemkele, has…


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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub Saharan Africa. This week, we reviewed Kenyan’s with over $1000 in the bank by Charles Mwaniki from Business Daily. According to the Central Bank of Kenya, the number of accounts holding $1000 and above increased by 8.7% to 1.69 million, representing the highest number of high-quality accounts the country has experienced in the past three years. It was expected that with the layoffs, job cuts and closure of businesses, the number of accounts holding more than $1000 would decrease, however, analysts attribute the increase…


At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub Saharan Africa. During the course of last year, everyone was worried about how the global pandemic will play out and what lasting consequences the changes would have on people’s income, health and generally, life as we have known it. At Spurt!, our team put together a survey distributed across the continent to find out how small businesses were coping with rapid change and dire consequences brought about by the global pandemic. In the wake of all this, came a bigger question about the systemic…


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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub Saharan Africa. This week, we reviewed. A new scramble for DR Congo begins in earnest as Tshisekedi steadies the ship by Aggrey Mutambo. Within a short period of time, Felix Tshisekedi, the reigning leader of The Democratic Republic of Congo (DRC), has built confidence around his leadership and vision for the Central African powerhouse. President Tshisekedi’s recent election to the chair seat at the African Union, in addition to his apparent reform agenda, has seen numerous African leaders embark on a charm offensive to…


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At Spurt! We are always looking to amplify solutions to critical and specific challenges in Sub Saharan Africa. This week, we reviewed The Difference Between Rich Founders and Poor Founders, From an ex-VC written by James Skylor. The article explores some fundamental reasons behind entrepreneurs starting their ventures. Ideally, anyone who decides to start an entrepreneurial experience would be keen on finding the freedom to control their approach to the problem they choose to solve and how they spend their time. When starting their businesses, entrepreneurs could choose to go with the venture-backed route, where there’s a 90% chance founders…


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While several entrepreneurs fund their business via bootstrapping, some choose to explore other avenues, including Venture Capital funding. An influx of VC funding into African startups has exploded over the past couple of years, with values reaching $2 billion in 2019 compared to a paltry $400 million in 2015.

Since adequate financing dramatically impacts the success of a startup, this decision requires founders to perform extensive due diligence to evaluate all implications of their chosen financing route fully. Factors to consider include funding amount, the applicable venture stage, the company’s mission and values, and the investor’s alignment with said values.

Spurt!

African Business Growth Consultants | www.spurt.solutions

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