By Atlanta Mahanta
In the 2000’s journalists have continuously cited ‘seven out of 10 of the world’s most rapidly growing economies are in Africa.’ In the 2020s, “three of ten major crypto users are in Africa.” Global investors from Asia’s entrepreneurs who are seeking to expand export to Africa to western crypto-evangelists, calling for an end to cen cantral finance are driving the widespread implementation of cryptography with its partner, DeFi. It is interesting to note that DeFi’s only biggest factor on the continent is small traders who trade with East Asia. Although Africa represents a small share of global aggregate consumption, retail consumption (i.e. consumer use) is more active than any other region.
Investors look for returns everywhere, including on the frontier markets and early stage investments, with nearly $10 billion of stimulus money entering into the US economy and trillions more around the world. Investing will also be motivated by the growing group of Super-Angeles, who are new to their tech initial public offerings in 2020. All of them have dramatically different risk appetites and are forming their own solo general partnerships, encryption funds, rolling funds and angel syndicates.
Google’s DeepMind announced in November that it has resolved a 50-year issue of mapping the protein form, enabling the development of vaccines that can be tried more quickly than ever. The new generation of vaccines with the AlphaFold technology from DeepMind will start in 2021. This will affect dozens of neglected tropical diseases throughout the African continent. In order to get these clinical trials and distributors off the ground by startups like LifestoresNG, the Gates and Chan Zuckerberg Initiative will encourage funding to be granted.
Towards what was an extremely challenging 18 months ago with layoffs and office closures, developers will benefit from a world that does not require staffing and development. Toptal, the world’s leading connecting business with software engineers, could see Andela as an interesting opportunity to expand their talented market business on the world’s fastest growing market, building on its acquisition of the Skillbridge company.
Data Source: African Business
TOP 10 Companies of Africa: Survey by McKinsey Africa
Sonatrach operates in the oil and gas sector of the economy of Algeria. It is owned by the Algerian government. This global oil giant corporation came into being in December 1963. Sonatrach has its headquarters in Hydra, Algiers, Algeria. This company is the largest oil exploration company in Algeria and Africa as a whole. Globally, it is the 11th largest oil consortium. Annually, 30% of the GNP of Algeria comes directly from the company.
Bruno Steinhoff founded Steinhoff International in 1964. It is a company that manufactures, sources and retails furniture and household goods in Africa, Europe, and Australia. Also, the group owns diversified industrial businesses in southern Africa through supply chain solutions, passenger services, timber products, and manufacturing operations across diverse industries. Steinhoff International competes with Tempur Sealy International, Sleep Number, and Simmons. It has its headquarters in Stellenbosch, Western Cape, South Africa
Sonangol was founded in 1976 to monitor the production of petroleum and natural gas in Angola. With headquarters in Luanda, Angola, Sonangol is proud to be the only company with representations in the whole country. It is owned by the government of Angola. The company also has offices in Asia, America, and Europe. Sonangol has won many awards for the sponsorship of arts, sports in Africa and the rest of Africa.
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The Bidvest Group Limited is a company that targets the foodservice, trading and distribution industries. Bidvest Group was founded by Brian Joffe in 1990. Bidvest Group owns 300 companies and engages in several business lines; including an automotive business, a commercial products business, banking, freight management, office, and print services, property investments, insurance and private security and facilities management of stadiums. The company has 130 877 employees on its payroll. The Bidvest Group competes with Prolog Projects.
Eskom Holdings SOC Ltd operates in South Africa. The company provides electricity for South African citizens. The company was founded by Hendrik van der Bijl in 1923. An approximate 95% of the electricity used in South Africa comes directly from Eskom Holdings while and 45% of the electricity used in Africa is being supplied by the same company. Eskom generates, transmits and distributes electricity to homes, industries, and redistributors. An estimated 49,000 employees work in the company. Eskom Holdings competes with Constellation Energy, Duke Energy Corporation, and Entergy Corporation. The company has its headquarters in Sunninghill, South Africa.
Sasol is an international integrated energy and chemical company. Sasol develops and commercializes technologies, and builds and operates world-scale facilities to produce a range of product streams, including liquid fuels, high-value chemicals, and low-carbon electricity. The company was founded in 1950. Sasol competes with ExxonMobil, Royal Dutch Shell, and Chevron Corporation. The company has 30,100 employees on its payroll. It has its headquarters in Sandton, South Africa.
The MTN Group formerly known as M-cell was established in 1994. The company involved in the provision of a wide range of communication services. The Company’s services include the provision of an internet network (data and voice). MTN Group is a multinational telecommunications giant with a presence in Africa and the Middle East The headquarters is in Johannesburg, South Africa. During the financial year that ended in 2010, 17,510 employees were working in the company. MTN is the largest network in Africa and the eleventh largest globally.
ShopRite Holdings is the largest supermarket retailer on the African continent. They are a business with a market capitalisation of about R96 billion, over 146 000 employees, thousands of stores and a network of distribution centres across 15 countries. The company recorded R141 billion in revenue for 2017. They serve local communities with the lowest price promise. Thirty-five million people shop in a footprint of more than 2,738 outlets every day. The company was founded in 1979. The company has its headquarters in Brackenfell, South Africa.
Imperial Holdings Ltd located in Bedfordview, South Africa was founded in 1946. With established capabilities in transportation, warehousing, distribution and synchronisation management and expanding capabilities in international freight management, the business operates in specific industry verticals – consumer packaged goods, specialised manufacturing and mining, chemicals and energy, healthcare, automotive, machinery and equipment, and agriculture. They are a leading logistics provider across the entire supply chain – renown for driving innovation and continuous improvement. Imperial Holdings competes with Barloworld Logistics, Super Group, and Hellmann Worldwide.
Bidford Company is a tier of the Bidvest company that is involved in the agricultural line of business and is located in the Southern part of Africa, South Africa. They have international presence in 4 continents. The company was founded in 1999 and has about 5,000 employees. It is an active company that has its headquarters located in the Greater Detroit Area, Great Lakes and Midwestern US. It is a profit organization that runs with a private IPO status.