Kenya

While Kenya is no stranger to political strides experienced across the region, the country has managed to avoid long periods of crisis – whether political, economic or social – and has been able to overcome its challenges in relatively short periods of time.

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A number of sub-Saharan African countries have sought to introduce taxes on electronic transactions, in response to a sustained uptake prompted by the pandemic. While such moves have been met with criticism, they represent an opportunity to significantly boost tax revenue.

A number of remittance-focused financial technology (fintech) start-ups are gaining traction in emerging markets. In doing so, they are making inroads on market share that was formerly the preserve of established financial service providers.

Driven by a combination of higher commodity prices, the relaxing of lockdowns and a recovery in global trade, Africa has had some success in overcoming the recession provoked by the coronavirus pandemic and returned to growth in 2021.

Economic zones in Africa have had a significant impact on trade volumes across the continent, as well as on job creation and foreign direct investment inflows.

As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects.

With a large youth population and growing network penetration, Africa has demonstrated its ability to innovate and technologically leapfrog mature markets.

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