Pengo loans11/5/2023 The result is that Kenya has leapfrogged South Africa as the country with the highest internet penetration in Africa (South Africa has dropped to fourth place) and is making rapid progress in building an IT culture and economy. Recently, the Kenyan government made the decision to slash the cost of bandwidth to promote the uptake of internet connectivity and drive business growth. Nigeria alone will have a population of 390 million people by 2050, making it the 5th most populous country in the world. The size of the untapped market is formidable. In more developed countries the general perception is that Africa is a continent of poverty, but in truth 34% of households are middle-income. Furthermore,with 45 out of 46 countries growing their GDP last year, the average rate of economic growth for 2011 was 6%. The delegation presented a compelling scenario of a continent that is experiencing the highest rate of urbanization in the history of mankind that is the second fastest growing region in the world after Asia. Nevertheless, the clarion call from Africa was quite distinct: “Africa is Rising” this was the message from the African Heads of State who attended the forum. There were any number of issues clamoring for attention at this year’s conference – the Arab Spring, the Eurozone crisis, burgeoning youth unemployment, the shifting of power from West to East, to name a few. Fitzgerald’s remarks came as part of the State Department’s first Global Business Conference, held in Washington, February 21–22. He reported that now is a great time for the United States to invest in sustainable development across Africa. government is promoting economic growth in Africa through public-private investment and development projects says Deputy Assistant Secretary of State for African Affairs, William Fitzgerald: “The United States is ready to do business in Africa in a much bigger way,” Fitzgerald said at the Washington Foreign Press Center February 22, 2012. The significant increase in foreign investment in Africa over recent years is a matter of much debate. While Pengo is focused on building a portal through which private investment capital here can flow to the underfunded private sector in high-growth emerging markets, it looks like the US government is also starting to take notice of the vast untapped opportunities in what some are calling the final frontier: the African continent… She and Kenya Relationship Manager, Emmanuel Munene, are preparing to launch the pilot in April. Pengo President, Jess Shorland, has safely landed and is getting settled in in Nairobi. Thank you for your understanding and continued support.Jess and Emmanuel: reunited and ready to disburse our first loans! We we will do what we can to keep our prices low when the opportunities are found, but right now we are left with little options. We apologize for any inconvenience this may have on our close and prospective customers. As a result, we are forced to increase our list pricing for 2021 and add a steel surcharge to off-set the rising costs that is projected to continue this year. The reduced capacities of companies in this industry due to Covid-19 health and safety regulations continues to have an impact. The cost of steel materials has been steadily increasing throughout 2020, and it unfortunately has not slowed into 2021. This is what we are seeing all across the industry day after day new emails from vendor's telling us that their prices are rising, every order we make for materials needs to be revised because the last price is no longer valid, and for good reason. The carbon steel market is poised to grow by 699.35 MT during 2020-2024 progressing at a CAGR of almost 8% during the forecast period." (Source: Business Wire)
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