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Africa

Making marble from bottles: plastic waste’s second life in Kenya

Justine White's picture
It is estimated that every day Nairobi generates 3,000 tons of waste; 12% is plastic. At the same time, the demand for new houses is growing at a rate of 600 per day. Innovative climate technologies can offer solutions that tackle both the challenges of plastic recycling and the increasing housing demand. But what is an effective approach to introducing technologies that can impact a critical number of companies in the value chain?
 
“From plastic waste to building materials,” a partnership supported by the World Bank Group gathering six private sector frontrunners in Kenya, is testing exactly this.
From plastic to marble. Photo © Better Future Factories
From plastic to marble. Photo © Better Future Factory

De-risking and remittances: the myth of the “underlying transaction” debunked

Marco Nicoli's picture
Also available in: Español | Français
Societé Genérale Mauritanie bank branch in Nouakchott, Mauritania.
Societé Genérale Mauritanie bank branch in Nouakchott, Mauritania. ©️ Arne Hoel

This Saturday, June 16, we celebrate International Day of Family Remittances to recognize “the significant financial contribution migrant workers make to the wellbeing of their families back home and to the sustainable development of their countries of origin.”

Which is why it is the perfect time to talk about a trend facing remittance service providers who migrants rely on to transfer their money across borders and back home.
In recent years, the international remittance services industry has been subject to the so-called “de-risking” phenomenon. Banks believe that anti-money laundering and counter financing of terrorism (AML/CFT) regulations and enforcement practices have made serving money transfer operators (MTOs) too risky from a legal and reputational perspective. For banks, the profit of serving MTOs is not considered sufficient to justify the level of effort required to manage these increased risks.
 

Initial findings from the implementation of the 'Practical Guide for Measuring Retail Payment Costs'

Holti Banka's picture

MoMo Tap in Côte d'Ivoire
In November 2016, we published the “Practical Guide for Measuring Retail Payment Costs”, an innovative methodology that can be customized to country needs and circumstances, without losing the international comparative dimension.

The guide enables countries to measure the costs associated with retail payment instruments, based on survey data, for the payment end users, payment service/infrastructure providers, and the total economy. The guide also enables countries to derive projected savings in shifting from the more costly to the less costly payment instruments.
 

A new Toyota-sponsored startup shakes up Bamako’s public transit

Alexandre Laure's picture

Left to Right: Thomas Gajan, Chief Innovation Officer at CFAO, Sendy CEO Meshack Alloys, Teliman CTO Abdoulaye Maiga, and Teliman CEO Etienne Audeoud


Like many African cities, Bamako’s population of 2.3 million is growing rapidly by roughly 5% a year. As people increasingly flock to the city, its road network is coming under increased pressure, especially when it comes to public transportation.

Traditional taxis are too expensive for the average commuter and the alternative option, SOTRAMA or public vans, are uncomfortable and slow, overflowing with people on Bamako’s roads.

Three years in a row: Mauritania continues to excel in its Doing Business performance

Alexandre Laure's picture
Also available in: Françaisالعربية

Fish market and vegetable market, Nouakchott. The daily catch is brought here by the fishermen’s wives and family members to sell the fish.
Photo: Arne Hoel
Description: Fish market and vegetable market, Nouakchott. The daily catch is brought here by the fishermen’s wives and family members to sell the fish.

As the World Bank Group’s flagship publication, Doing Business, celebrates its 15th edition, Mauritania continues to thrive as a major reformer in investment climate policy. The country was highlighted in the Doing Business 2016 report among the top 10 reformers worldwide and the current 2018 report shows that Mauritania outperforms the regional average. 

Following a downward trend between 2010 and 2014, Mauritania has been steadily improving its ease of doing business performance. Figure 1 shows how, in just three year, a series of reforms that began in earnest during 2015, were key to help the country jump a remarkable 26 places from 176th in 2015 to 150th this year in 2018.

Why providing pre-seed and seed capital is the essential step to bringing West Africa and Sahel’s entrepreneurs to the next level

Alexandre Laure's picture
Also available in: Français

"In Chad, young people increasingly turn to innovative entrepreneurship but often become demoralized when confronted with the common issue of lack of early-stage financing.” This is how Parfait Djimnade, co-founder of Agro Business Tchad, a leading e-commerce agribusiness and social enterprise in Chad, described the challenge many aspiring entrepreneurs face in securing the necessary capital to fund and grow their start-ups, specifically in the Sahel and West Africa.

The frustration Parfait highlights is common across the Africa region, where more than 40 percent of entrepreneurs cite access to finance as the major factor limiting their growth, according to World Bank Enterprise Surveys. West African start-ups and innovative young SMEs are indeed facing the classic ‘valley of death’ — the space between where the entrepreneur’s own resources from family and friends (“love money”) gets depleted and when the company is financially viable enough to attract later-stage investment and financing available on the market. The shortage of financing in the market starts from the pre-seed stage (US$20,000) to early-venture capital stage (US$1 million).

Is acceleration the panacea for scaling growth entrepreneurs? Reflections from XL Africa

Natasha Kapil's picture
XL Africa entrepreneurs at the XL Africa Residency, Cape Town, South Africa.
Digital entrepreneurs at the XL Africa Residency, Cape Town, South Africa.





The World Bank Group has helped strengthen the ecosystem for digital entrepreneurs and seed digital incubators in several countries around the world, including KenyaSenegal, and South Africa, just to name a few. Start-ups in these “mLabs” have developed or improved more than 500 digital products or services, and some 100 early stage firms raised over $15 million in investments and grant funding. But is this the answer to scaling growth entrepreneurs on the continent?

Powering up Africa through innovation

Simon Bell's picture
Recent World Bank investment climate surveys find that the top two constraints for small and medium enterprises (SMEs) in Africa are access to finance and access to energy. Given that SMEs contribute disproportionately to boosting job creation, GDP, and exports, addressing these two constraints is critical to promoting economic development on the continent.
 
A new project combining skills across the World Bank Group and IFC is taking advantage of disruptive advances in the energy and finance sectors to address these longstanding challenges for SMEs.
 
Current access to electricity remains woefully low and is a major impediment to economic growth. More than half of Africa’s population isn’t connected to the energy grid and has no access to reliable power. At the same time, fewer than 50% of adults have an account with a formal financial institution.
 
In recent years, however, two important developments have made it possible to begin addressing these challenges:
  1. Off-grid energy solutions—notably solar power—have fallen dramatically in price with new business models working to scale them
  2. New digital-based financing mechanisms, such as crowdfunding, cryptocurrencies, peer-to-peer lending, psychometric testing, big data, and blockchain have emerged as tools for under-served finance markets.

There are strong parallels in these advances for both sectors. Whereas both energy and finance are traditionally provided by large-scale, centralized service providers—state-owned electricity utilities and large commercial banks, respectively—new solutions have effectively decentralized and democratized the provision of these services. Now a range of smaller, innovative companies can provide these services and consumers can go “off-the-grid” for both their energy and financial needs.
 

Anne Mwaniki, CEO of Solimpexs Africa, a Kenyan company producing solar-powered heating systems.
Photo © infoDev / World Bank

Entrepreneurship competition encourages the Malian diaspora to start businesses on their home turf

Alexandre Laure's picture

Also available in: Français

The Malian diaspora counts between four and six million people, many of whom have benefited from a good education and rich experiences, that could help develop high-potential businesses in their home countries.

However, starting and running a business in Mali isn’t easy. That’s why Pape Wane, a Malian reality TV producer, decided to partner with local business incubators to launch the Diaspora Entrepreneurship competition in order to identify, promote, and support members of the diaspora community who can seize business opportunities in Mali, while also understanding the unique challenges of the local ecosystem.

Using the codes of reality TV, the competition has strived to resonate with Mali’s youth by increasing their awareness of entrepreneurship’s potential to address the country’s socio-economic challenges.

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