Smart cities leverage on technology and use the large amount of data their citizens generate every second to optimise resources, to connect people and to improve business and trading. A smart city targets energy savings and adopts environmentally-friendly technologies, which helps promoting sustainable development.
The banking industry in Kenya is under pressure and is calling for a review of the controversial interest cap law enacted in August 2016. The banks point to the adverse effect the law is having on the sector’s liquidity.
Internet use in sub-Saharan Africa is on the rise, supported by growing smartphone ownership and connections to multiple undersea communications cable systems. Broadband uptake grew 34% per year between 2008 and 2015, and penetration is anticipated to reach 80% by 2020, up from 20% in 2015.
SMEs are engines of growth, vital to most economies. Research suggests that micro businesses and SMEs account for 95% of firms in most countries. They create jobs, contribute to GDP, aid industrial development, satisfy local demand for services, innovate and support large firms with inputs and services.
The east African coast occupies a strategic position that allows maritime connections between the African continent and the Middle East and Asia. The ports of Mombasa, in Kenya, and Dar es Salaam, in Tanzania, are the most important in the region.
Vital to the economies not only of Kenya and Tanzania, but also to the landlocked neighbouring countries, these ports are connected to their neighbours through a network of roads and railways that allow trade with other east African countries and with the rest of the world.