Kenya’s rising profile as a software developing nation is set to place the commodity on the country’s list of exports this year as companies and governments continue the search for effective cost-cutting tools.
Figures from the Ministry of Information reveal the sector raked in over KES 500 million (USD 6.6 million) in revenues last year, and that figure is projected to double as the country’s profile rises around the world.
Currently, Kenya biggest exports are tangible goods such as horticultural exports, tea, and soda ash.
A shift to virtual software exports would position the country to compete in the same class as India, which makes upwards of KES 4 billion (USD 52.9 million) per annum in software exports.
Local software manufacturers say they are experiencing an upswing in interest from foreign companies, who are drawn to Kenyan developers due to their ability to churn out cheap but innovative solutions. Read the rest of this entry »
Bourse Africa, a unit of Financial Technologies, plans to set up an electronic exchange to trade African commodities futures by the second half of next year, Director of Strategy Adam Gross said. 
