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African telecom sector sees a boom amid COVID-19 [Business Africa]

Ruth Lago, Business Africa, Africanews, Septembre 2021   -  
Copyright © africanews
Ruth Lago, Business Africa, Africanews, Septembre 2021

Business Africa

- African Telecom sector is seeing a boom -

The telecom sector in 2021 has recorded huge revenues in Africa. MTN, Vodacom and Safaricom dominate the sector on the continent with huge revenues of up to 6 billion US dollars. The reason why the sector, is doing so well despite Covid 19 effects, the answer in this report.

- Nigeria launches its digital currency, "e-naira" -

For the past few years, the Central Bank of Nigeria has been concerned about the impact of cryptocurrencies on its economy, believing that they are being used for money laundering and terrorist financing. As a result, the CBN has launched its digital currency, the e-naira. It will facilitate transactions, so Nigerians will be able to download the e-naira application and fund their mobile wallets using their bank accounts.

- Niger's Kandadji dam project -

Located some 180 km upstream from Niamey, the Kandadji dam project on the Niger River dates back to the 1970s. The project has been postponed several times, first to 2016 and then to 2023, but the date of impoundment is now set for 2025. This billion-dollar structure with a 28-meter-high, 8.5-kilometer-long dam will have a holding capacity of 1.5 billion cubic meters. This dam could be the solution to food insecurity in Niger.