While 2024 is coming to an end, we take a moment to return to some of the stories that dominated conversations across Africa.
This year was a cocktail of events. Controversial policies with daring commercial reinventions, the year has left us a lot to think.
Here is a more in -depth examination of some of the most convincing stories of the year.
Cybersecurity with 0.5% of Nigeria: a controversial policy that has been suspended
While we look back over the year, few problems aroused a public feeling in Nigeria, as is the 0.5% levy on electronic banking transactions, nicknamed the cybersecurity tax.
This Directive of the Central Bank of Nigeria (CBN), which is expected to take effect on May 20, 2024, was introduced to finance the National Cybersecurity Fund and improve cyber-defenses in the country.
The time of the sample was particularly controversial, and what started as a government initiative quickly turned into a nightmare of public relations.
Citizens, economists and plea groups immediately criticized the levy. Many have seen it as an additional burden for a population already struggling with inflation, high unemployment and the increase in subsistence costs.
From social media campaigns to demonstrations by unions and defense groups like Serap, it has become clear that the Nigerians were not on board this policy.
The owners of small businesses expressed fears of increased financial tension, while analysts warned against a probable reversal of the country’s progress towards an economy without species.
The tumult forced the Federal Executive Council to suspend the levy a few days before it was planned. Fortunately, this ship has never sailed.
Although this decision looks like a victory for people, it is also a story of politics, protest and power of collective voices.
The fight against meta and Nigeria against sextorse scams
What looked like a victory was Meta Platforms against cybercrime in the country.
The parent company of Instagram and Facebook 63,000 Instagram accounts in Nigeria are linked to sextrusions in July, including a coordinated network of around 2,500 accounts. He also deleted a set of Facebook accounts, pages and groups used by locally known fraudsters under the name of “Yahoo Boys”.
The technology giant said that these authors attacked the victims by pretending to be romantic interests, attracting them to share explicit images, then extorting them for money. They had become sophisticated alarming, even using Facebook groups to train and recruit new crooks.
Meta’s repression was not limited to the moves of the account. The company has also introduced several security measures, including technology to blur unstalled naked images and improved confidentiality controls for adolescents.
However, Meta’s actions were not without context. Earlier in the year, the company was faced with a 220 US of the Federal Commission of Nigeria and Consumer Protection (FCCPC) For alleged privacy violations. The fine intervened after the accusations of invasive data practices and mistreatment of market domination, which, according to many, have disproportionately estimated Nigerian users.
While Meta plans to appeal the fine, her repression of sexthorion is considered an attempt to regain the confidence of the public.
Kenya welcomes digital nomads
Turning east, Kenya has turned heads – mainly distance workers – this year with its introduction Class Nomadic Nomad Visa.
Announced in October, the visa allows digital nomads to live and work in Kenya while earning revenues from foreign sources. The policy reflects Kenya’s ambition to position itself as a higher destination for distant professionals in search of a balance of work, adventure and dynamic culture.
However, the visa establishes a high entry bar for far workers from other African economies. Candidates must show an income of at least USD 55 K Annually, proof of remote work and accommodation in Kenya. For the context, Hrtechxplo Indicates that the average annual income for distant professionals in Nigeria and South Africa is respectively 9,600 USD and USD 14,000.
Although the visa prohibits holders from taking local jobs, it welcomes the economic advantages that these professionals bring. Digital nomads are known to stimulate tourism, support local businesses and promote innovation.
Kenya’s decision aligned with an increasing trend across Africa, with countries like Mauritius and Namibia which also deploy similar programs. However, Kenya’s offer is reinforced by its booming technological ecosystem, which offers digital workers a mature environment for collaboration. In addition to its breathtaking landscapes and its relatively low cost of living, it is easy to see why Kenya targets it.
This decision is not only a question of economy. By adopting the future of work, Kenya sends a message to the world: it is open to business and ready to direct the world remote labor revolution.
MarketForce killed Rejareja for the Renaissance of a new “Chpter”
Meanwhile, this year was bit bitter for Kenya MarketForceA Kenyan startup that closed its B2B, Rejareja electronic commerce platform.
Despite the service of 270,000 merchants in 21 new cities in 5 African countries and the collection of 42.5 m from USD in funding, the platform has closed due to thin razor margins and an unbearable commercial model .
According to the company’s own words, “he concluded that it is no longer possible to continue to delight Réjréja after immense efforts to make our business model sustainable, including the reduction of the company’s workforce to extend the track as long as possible. ” The besieged company had already left three markets before finally swinging the ax.
But the founders of MarketForce were not ready to abandon. They launched GoA social trade platform powered by AI which helps traders to sell more effectively on social media platforms like WhatsApp and Instagram. It has just guaranteed 1.2 M USD in pre-series funding.
With GoThis is MarketForce’s third attempt to manage a viable business. He originally started as sales automation software in 2018. Then he pivoted the B2B Rejareja electronic commerce, which allowed informal retailers to order consumer goods (FMCG) rapidly developing distributors and manufacturers and access financing.
While the closure of Rejareja has been a setback, the pivot of Chpter represents the resilience of MarketForce’s leadership to adapt to the realities of the digital economy of Africa. This is the story of two reinventions, proving that challenges can lead to new opportunities.
The collapse of Mobius Motors
While MarketForce had the chance to reinvent itself, Kenya Mobius Motors’ The story was more overwhelming. Formerly a symbol of hope for the African automotive industry, he faced a heartbreaking end this year.
The company announced its liquidation in August, citing the assembly of financial pressures despite the increase USD 56 m in funding. For Mobius Motors, the dream of creating robust and low -cost SUVs for the difficult terrain of Africa stopped this year while it was fighting to compete with cheaper used imports.
Tax increases, logistical challenges and limited demand from consumers for its vehicles have all contributed to the disappearance of Mobius. By 2020, the company was in debt, with liabilities exceeding the kes of 649 M.
The closure raises critical questions about the future of local manufacturing in Africa. How can regional industries prosper on the markets dominated by global players and imports? For the moment, Mobius is an edifying story on the complexity of the construction of sustainable companies in emerging economies.
Digital nomads that find a house in Kenya to realities that give reflection on Africa’s commercial landscape, 2024 has been a year of growth, reverse and resilience. While we enter in 2025, these stories remind us of the ups and downs of this year, and these stories will undoubtedly shape the conversations to come.
This article is a payment in our Annual conclusion seriesA deep dive into the events and trends that have shaped 2024 across Africa and beyond. Stay listening for the next game, where we will explore even more determining moments and their implications for 2025.