Video gaming is no longer just a pastime for the young. The size of the global video game market has increased as younger generations have grown up with video games as a staple of daily life. According to some projections, the United States topped the list of the largest gaming marketplaces globally in 2022, with revenue of 54.9 billion dollars. China’s video game market came in second place, with yearly sales of over 44 billion dollars.
According to reports, grains, of which wheat is a significant component, are the most imported agricultural product in Africa. Meanwhile, due to excellent agro-climatic conditions, nations in East Africa including Ethiopia, Kenya, and Zambia have the potential to produce wheat locally.
The majority of African nations imported their wheat from Russia and Ukraine. For instance, the majority of the wheat imported by Egypt, the top buyer of wheat in both Africa and the globe, comes from Russia (60 Pct) and Ukraine (22 Pct).
The ten states with food crises in 2021 were the Democratic Republic of the Congo, Afghanistan, Ethiopia, Yemen, northern Nigeria, the Syrian Arab Republic, the Sudan, South Sudan, Pakistan, and Haiti. Nearly 70 Pct of the world’s population is thought to be in crisis or worse or an equivalent situation. Acute food insecurity was the main cause of conflict or insecurity in seven of these countries.
Africa is home to some of the world’s largest dams for the purpose of generating electricity from the power of water. While the world transitions to cleaner forms of power, dams have been a reliable source of electric energy for centuries or millennia—generating substantial amounts of electricity. Home to the Nile, Congo, and Niger Rivers, the abundance of water systems in Africa has resulted in a resurgence in the construction of massive dams to manage the supply of water distribution and generate hydroelectricity throughout the continent.
Every year, the African Business Top 250 Companies charts the rise of innovative, strategic and resilient African businesses that straddle the continent, make huge profits and invest billions into Africa-wide strategies to seize future opportunities.
Telecommunications firm MTN Group soars from #13 to #4 on this year’s ranking after more than doubling its market capitalization to USD24.5 billion, up from USD11.1 billion in 2021.
The backbone of the Ethiopian economy in both job creation and export values, Coffee registered record numbers in the just completed Ethiopian fiscal year of 2021/22, passing the USD1 billion mark for the first time in history. Even though prices have been inflated due to inflationary pressures worldwide, quantities exported have also grown. The fiscal year saw 300,000 metric tons exported to gain USD1.4 billion.
Africa is home to numerous tertiary institutions, particularly universities, a handful of which are even ranked among the best in the world. This shouldn’t come as a surprise on a continent of over 1 billion inhabitants. Also, the oldest university in the world is the University of al-Qarawinyyin, founded in 859 and located in Fez, Morocco.
Having the highest number of universities, unfortunately, does not signal quality and better educated citizens. Also, the fact that a country has the highest number of universities compared to others, does not necessary mean that all the universities in the country are quality universities.
GDP comprehensively measures the monetary value of all the products and services that are produced in a country within a given period of time. It gives a relatively accurate estimate of the size and growth rate of a country’s economy, thereby helping investors to make strategic decisions. GDP considers factors such as production, expenditures and income. The figure can sometimes be adjusted to reflect inflation and population growth, thereby providing deeper insights.
In addition to being Africa’s biggest trading partner, China is building the future of the continent’s urban landscapes almost single-handedly. Between 2007 and 2020, China’s two main overseas development banks invested USD23 billion in infrastructure projects on the continent which is USD8 billion more than what the other top eight lenders combined, including the World Bank, African Development Bank, and US and European development banks, contributed.
The index is based on data that measures women’s inclusion, justice access, and security in 170 countries. Norway, Finland, and Iceland topped the list on women’s well-being, while Afghanistan, Syria, and Yemen were at the bottom. This year’s report showed a larger range in scores, with the top score three times better than the worst, as compared to two times worse in 2017.
Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and platform to partners.
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