AFC’s Lekela Power wins Equity Deal of the Year at the African Banker Awards
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has received the Deal of the Year – Equity award at the just concluded African Banker Awards 2023 ceremony in Sharm El Sheikh, Egypt.
AfDB approves $20 million investment in private equity fund targeting the infrastructure sector in Africa
The Africa50 Infrastructure Acceleration Fund I is a pan-African infrastructure private equity fund that is mobilizing up to $500 million for investment and value creation in strategic infrastructure sectors.
[Interview] Hontinfinde Jean: Co-Fondateur, CTO chez Arnio
Arnio est une nouvelle marque de classe mondial dans la conception et le développement de véhicule électrique en Afrique.
Proparco soutient GRAVITA, une société indienne de recyclage industriel
Proparco soutient GRAVITA, une société indienne de recyclage industriel pour ses activités au Ghana et au Sénégal.
AFC secures US$625 million Syndicated Loan with New Lenders from Middle East and Asia
Africa Finance Corporation, the leading infrastructure solutions provider on the continent, announces that it has secured a US$625 million syndicated loan with new lenders from the Middle East and Asia.
Perenco lance une nouvelle plateforme pour optimiser la production de brut
En République démocratique du Congo (RDC), la compagnie pétrolière et gazière Perenco a officialisé la mise en service d’une nouvelle plateforme de production en mer, à Muanda, à l’extrême ouest du pays.
The launch of Capacity-Building Program to foster economic and financial development of African cities
United Cities and Local Government of Africa (UCLG Africa), in partnership with the African Development Bank (AfDB), is organizing the second phase of its capacity-building program for Chief Financial Officers of African cities.
AFC and Japan Bank for International Cooperation collaborate to accelerate energy transition in Africa
Africa Finance Corporation (AFC) and Japan Bank for International Cooperation (JBIC) have signed a Memorandum of Understanding (MOU) to collaborate on infrastructure projects that contribute to accelerating energy transition in Africa and promoting economic sustainability on the continent.
Africa Oil announces the decision to withdraw from its Kenya Project
Africa Oil Corp. announces that it has submitted withdrawal notices to its joint venture partners on Blocks 10BB, 13T and 10BA in Kenya.
Eni and Sonangol expand cooperation in sustainable energy transition areas
Under the terms of the MoU, Eni and Sonangol will jointly identify and assess opportunities in the areas of Energy transition, including agro-industrial supply chains for the production of low carbon fuels, valorization of residual biomass and green ammonia for agro-industrial applications.
Africa50 and Bayobab in partnership to develop pan-African terrestrial fibre
Bayobab and Africa50 signed a partnership to develop Project East2West, a terrestrial fibre optic cable network connecting the eastern shores of Africa to those on the continent’s west.
Africa50 et Bayobab s'associent pour développer les réseaux de fibres optiques terrestres en Afrique
Bayobab et Africa50 ont signé lundi un partenariat visant à développer le projet East2West, un réseau de câbles terrestres à fibres optiques reliant la côte est de l'Afrique à celle de l'ouest du continent.
Banque verte africaine de la Banque africaine de développement: Bénin et Côte d'Ivoire premiers bénéficiaires
La Caisse des dépôts et consignations du Bénin (CDC Bénin) et la Banque nationale d'investissement en Côte d'Ivoire (BNI) seront les premières institutions publiques africaines à bénéficier des premières facilités de financement vert de la Banque verte africaine.
Près de FCFA 60 milliards de financement pour de nouveaux projets en Afrique Centrale
La Banque de Dévelopement des Etats de l’Afrique Centrale (BDEAC) a tenu en session ordinaire son Conseil d’Administration pour approver près de FCFA 60 milliards de financement pour de nouveaux projets.
Tingg by Cellulant transforms billing and collections for utility companies in Zambia
Tingg, Cellulant's digital payments platform, is challenging Zambia's traditional bill payment method. With Tingg, individuals and businesses can quickly and easily pay their water and power bills on an app or via USSD.
TDB to launch three new virtual deal rooms with Asoko Insight
TDB to accelerate the financing of infrastructure, health and climate action projects in Africa through three new virtual deal rooms with Asoko Insight.
Oakantswe Construction has secured funding through the Abadali Equity Equivalent Investment Programme
The Abadali Equity Equivalent Investment Programme (EEIP), which is administered by Edge Growth, has invested in Oakantswe Construction and Projects, a 100% black female owned and managed electrical contracting firm.
BOAD autorise de nouveaux engagements pour 173,38 milliards FCFA
Le 135ème Conseil d’Administration de la BOAD autorise de nouveaux engagements pour 173,38 milliards FCFA.
[Kenya] KETRACO powers procurement prowess with SAP Business Network
When one of Kenya’s leading state corporations, Kenya Electricity Transmission Company Limited, needed to enhance its procurement capabilities to meet its regulatory commitments, it adopted SAP to leverage the power and scale of the largest procurement network in the world.
Les investisseurs japonais déclarent vouloir faire plus d’affaires avec l’Afrique
Le gouvernement, les parlementaires, les grandes entreprises et les start-ups du Japon manifestent un intérêt croissant pour investir davantage en Afrique.
La protéction des intérêts des pays membres de l'APPO par Banque Africaine de l'Énergie
Le Secrétaire général (SG) de l'APPO, SE Dr Omar Farouk Ibrahim, a assuré les pays membres de la protection de leurs intérêts dans la Banque africaine de l'énergie.
Viva Technology et IFC annoncent un record de participation aux AfricaTech Awards 2023
Viva Technology et la Société financière internationale (IFC) ont annoncé le Top 45 des start-up retenues pour la deuxième édition des AfricaTech Awards, une initiative panafricaine visant à reconnaître et soutenir les start-up émergentes à l'origine de l'innovation et de l'impact sur le développement à travers le continent.
GVCA hosts maiden conference to leverage Private Equity for Ghana’s economic recovery
The conference was a platform to illuminate Private Equity as a catalyst for the recovery of Ghana’s economy.
HV Capital closes $782 million fund for 'Technology Disruptors'
Germany’s HV Capital says it has closed a €710 million ($782 million) fund targeting “high-growth” firms.
Gabon, Sierra Leone accede to establishment agreement of Afreximbank’s Fund for Export Development in Africa
FEDA, the development impact-focused subsidiary of African Export-Import Bank (Afreximbank), has announced the accession of the Gabonese Republic and the Republic of Sierra Leone to the Fund through their recent respective signing of the FEDA Establishment Agreement.
The African Green Bank initiative provides $1.6 million to support the Green Finance Facilities in Africa
The African Development Bank has launched the African Green Bank Initiative to tackle Africa’s key barriers to climate financing and promote resilient, green and sustainable growth.
Intelsat partners with Gilat to upscale its In-Flight Connectivity and Cellular Backhaul services worldwide
Intelsat Strengthens Strategic Partnership and Expands Service Capabilities with Significant Multimillion-Dollar Orders for Gilat’s Multi-service Platforms and Terminals
Eni inaugure le projet Congo GNL en République du Congo
Le lancement du projet visant à transformer le pays en exportateur de gaz naturel a été marqué par une cérémonie en présence du président du Congo et du PDG d'Eni.
TDB and Finnfund working together for investment development in Africa
TDB Group has signed a Memorandum of Understanding with Finnfund, a Finnish development financier and impact investor, to promote investments that contribute to the UN Sustainable Development Goals in key projects in TDB member states.
Africa Finance Corporation acquires Aker Energy
Through the transaction, AFC will become the sole shareholder of Aker Energy, and thereby 50 percent owner of the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana, comprising discoveries of 450-550 million barrels of oil equivalents, including the Pecan field.
AfDB, European Union and France invest $300 million in Tanzania’s hydropower project
The funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in Kagera region in the northern part of Tanzania. The project also received a grant of EURO 36 million from the European Union.
20-year Power Purchase Agreement signed between Africa Data Centres and Distributed Power Africa.
Africa Data Centres, a business of Cassava Technologies group to announce it has signed a 20-year Power Purchase Agreement (PPA) with DPA Southern Africa Pty Ltd (DPA SA), a joint company of Distributed Power Africa and the French utility company, EDF.
Cassava Technologies pledges R4.5 billion in investment into the South African economy
Cassava Technologies has pledged a total of R4.5 billion in investment in South Africa through its business units – Liquid Intelligent Technologies, Africa Data Centres and Distributed Power Africa.
Equator secures $40M in commitments for fund targeting climate tech startups in Sub-Saharan Africa
Equator, a climate tech venture capital firm focused on sub-Saharan Africa, has reached an initial close of its first fund with $40 million in commitments.
Establishment of Special Economic Zones for the production of Battery Electric Vehicles in DRC and Zambia
Afreximbank and ECA sign framework agreement towards establishing Special Economic Zones for the production of Battery Electric Vehicles in DRC and Zambia
Eni celebrates sail away of FPSO Firenze to Baleine Field Offshore Côte d'Ivoire
The FPSO Firenze will allow production start-up of the Baleine field, which is the largest hydrocarbon discovery in Côte d'Ivoire.
AfDB, COMESA launch $1.5 million project to improve electricity regulation in the region
The African Development Bank (AfDB) and the Common Market for Eastern and Southern Africa (COMESA) have launched a new regional initiative to enhance the sustainability of the electricity sector in Eastern and Southern Africa through harmonized regulatory frameworks.
Nigeria Sovereign Investment Authority and Vitol to launch CarbonVista
The Nigeria Sovereign Investment Authority and Vitol have completed a joint venture agreement to invest in a range of carbon avoidance and removals projects and are in the process of reaching a final investment decision on the first projects.
[Column] NJ Ayuk: Natural gas is key to addressing South Africa’s energy needs today and tomorrow
As the country’s fleet of mostly coal-powered plants struggles to keep up with electricity demand, South Africans are enduring daily power outages that last six to 10 hours a day.
BW Offshore a prolongé le contrat avec Espoir Ivoirien et FPSO au Nigéria
BW Offshore Limited a signé une extension à court terme pour la location et l'exploitation du FPSO Espoir Ivoirien afin de discuter d'un achat potentiel du FPSO par le client.
VC firm Equator raises $40 million in commitments for African climate tech startups
The global venture capital firm with teams in Nairobi, Lagos, London, and Colorado, seeks to invest in high-growth, ready-to-scale ventures that are driven by technology and business model innovation in their quest to address material economic and sustainability challenges in the region.
La BAD mène des consultations pour la mise en place de sa stratégie sur les mini-réseaux au Sahel
En marge du Forum d’investissement pour l’accès à l’énergie, tenu à Abidjan, la Banque africaine de développement a organisé sur deux jours des consultations avec les acteurs du secteur des mini-réseaux en Afrique.
Kenya, Congo and Chad Accede to Afreximbank’s FEDA Establishment Agreement
The Republics of Kenya, Congo and Chad are the latest signatories to the Establishment Agreement of the Fund for Export Development in Africa (FEDA), the development impact-oriented subsidiary of African Export-Import Bank (Afreximbank).
More investments to bolster infrastructure, energy security, food security, and healthcare from DFC
The transactions will support U.S. foreign policy and development priorities across the globe, including enabling sustainable infrastructure and energy security, advancing food security and agricultural innovation, supporting small businesses, and improving healthcare.
FSD Inject Sh268bn in affordable housing and energy project
FSD has injected £1.9 billion (Sh268 billion) of long-term capital to SMEs, in the last 10 years towards affordable housing and sustainable energy projects.
[column] Alain Ebobissé : Why bankable projects are key to win-win US-Africa investment
The United States-Africa relations are back in the spotlight, and investment is the word of the hour. Crafting mutually beneficial relations will depend on developing a credible pipeline of bankable and sustainable projects on the African continent.
BOAD autorise de nouveaux engagements pour un montant global de 242 milliards FCFA
Le Conseil d’Administration de la BOAD tient à Bissau la première session de l’année de son cinquantenaire et autorise de nouveaux engagements pour un montant global de 242 milliards FCFA.
AfDB approves $28.49 million grant to enhance Ghana’s universal electrification goal
The financing, which will come from the Climate Investment Funds (CIF)– Scaling Up Renewable Energy Program in Low Income Countries (SREP), will support construction of mini-grids, stand-alone solar photovoltaic systems and solar-based battery facilities for storing excess power, a practise known as net metering.
Eni launches Sustainable Supply Chain Finance programme to support access to credit for companies committed to sustainable development
It is designed for Eni suppliers to receive advance payments from the scheme’s financial partners.
British International Investment commits EUR 20 million to The Urban Resilience Fund
A minimum of 85 per cent of investments will support climate finance qualifying projects in African cities.
Factor[e] Ventures launches a new venture studio to transform the African startup ecosystem
Delta40 focuses on technology-driven energy, agriculture, and mobility ventures led by diverse, experienced founders.
[Column] NJ Ayuk: How domestic gas production can help mitigate South Africa’s energy crisis
The country’s fuel and energy sector is truly in trouble, with power shortages and blackouts worse than ever before.
Aramco and DHL Supply Chain announce new end-to-end Procurement and Logistics Hub joint venture
Aramco and DHL Supply Chain partnership move is expected to help customers drive supply chain efficiency and cost benefits while reducing their carbon footprint through more sustainable solutions
RMB assists IPP Msenge with project finance debt funding
RMB helps curb the energy crisis with South Africa’s first utility-scale wheeled wind energy project
Equatorial Guinea, Cameroon bilateral agreement signals new era of cross-border cooperation in Africa
The respective Presidencies of Equatorial Guinea and Cameroon have signed a bilateral cooperation agreement, unlocking a new phase of energy security and economic expansion on the back of gas monetization and cross-border collaboration.
Tech firm SLB Opens New Regional Office in Lagos
Global technology company, SLB (formerly known as Schlumberger), officially opened its new West Africa regional office in Lagos, Nigeria.
Volvo delivers the first heavy electric truck to Africa
Deployment of heavy electric trucks is now spreading across the world. With Europe and the US among the leaders, the shift to more sustainable transport is kicking off also in other parts of the world. In Africa, the first heavy electric truck is now being delivered in the city of Rabat in Morocco.
Uganda signe avec l’Algérie, un mémorandum d’accord pour collaborer dans le secteur pétrogazier
Le protocole d’accord vise à évaluer conjointement les opportunités de coopération sur l’ensemble de la chaîne de valeur du pétrole et du gaz.
[ChatGPT Biography] Tony Elumelu, Founder of Heirs Holdings
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
EIB Climate Survey in Kenya
97% of Kenyan respondents say climate change is already affecting their everyday life.
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
Enquête de la BEI sur le climat en Côte d’Ivoire
91 % de la population ivoirienne interrogée estiment que les changements climatiques ont déjà des répercussions sur leur quotidien.
[East Africa Business Week] Bob Koigi: Scaling startups’ investment in the region
As startups successfully raise funding, they are boosting their product and service portfolio while setting sight on the East African region for expansion. This
[East Africa Business Week] Bob Koigi: Accelerating sustainable and clean transport solutions
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
[Column] NJ Ayuk: How Africa can capitalize on its mineral wealth to develop an electric vehicle value chain
As the entire global transportation marketplace marches toward an increasingly electrified and battery-powered future, many countries across the African continent stand at the threshold of profound economic opportunity.
[East Africa Business Week] Bob Koigi: Partnerships bolster cross-border remittances and trade
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
[Column] Mike Smollan: The effect of loadshedding on South African retail industry
With loadshedding recently declared the 2022 word of the year by the Pan South African Language Board - retailers, brands, and manufactures have faced heavy knocks in a sector that is still in recovery post lockdown
[Column] Tobias Alando: Key learnings from the waste management journey
The perception of waste as an unwanted material with no intrinsic value has dominated attitudes towards proper waste disposal. Yet, waste is a critical resource with the potential to transform the lives of Kenyans through the creation of jobs and wealth.
[Column] Tobias Alando: Securing our future: the path to net-zero
Accelerating the transition to energy efficiency and conservation is one of the surest ways of securing the future of our planet for generations to come. This is because, energy is at the heart of climate change.
[Nigeria Business Week] Andrea Ayemoba: Gas price triggers ripple effect across industries
Nigeria’s inflation as of the month of May stood at 17.71%, but economists are now predicting just a month later a new figure we can expect at the end of this year.
[Nigeria Business Week] Andrea Ayemoba: Nigeria scores big in budget transparency
The infrastructure of Nigeria is such that for meaningful progress to be made, there must be give-and-take on the parts of the government and the people.
[Nigeria Business Week] Andrea Ayemoba: Government, Industries move to expand women enterprise
With plunging profits in its prized sector, oil and gas, and an ever-climbing inflation, Nigeria is increasingly turning to what most of the world has been blind to – the potential of women in business.
[Nigeria Business Week] Andrea Ayemoba: Clean energy gets funding amid inflation and trade deficits
Oil and Gas has been a pillar supporting the Nigerian economy for a very long time. Rich in this natural resource, Nigeria may be guilty of neglecting other promising sectors, like Agriculture and even Insurance.
[Nigeria Business Week] Andrea Ayemoba: An economic overview for Q1
As we have seen over time, when one sectors hits a low point, another is seen hitting high notes. Such is the situation as we’ve seen it lately.
[Column] Kelly-Ann Mealia: Non-fungible Tokens (NFTs) and the Future of Capital Raising in Africa
More African energy projects should be crowdfunded either in fiat or digital currency and non-fungible tokens (NFTs) to ensure that these projects get developed.
[Nigeria Business Week] Andrea Ayemoba: Crude industry facts underlining the Nigerian economy
The Nigerian stock market indicators have shown lately a typical pattern in stock markets – investors stay loyal to the resilient stocks.
[Nigeria Business Week] Andrea Ayemoba: Experts point toward startup management for local productivity
Nigeria’s crown jewel, oil and gas, has been in a state of mild disrepair for several months now. There’s an ongoing fuel scarcity situation that is intensifying by the day and causing a ripple effect in every aspect of daily life.
[Nigeria Business Week] Andrea Ayemoba: Government, experts look to non-oil exports for economic recovery
The math is really simple – a rise in fuel prices leads to a rise in price in everything on the market because it costs more to transport it.
[Nigeria Business Week] Andrea Ayemoba: A call for exports diversification for higher market gains
Agriculturists and entrepreneurs are working harder than ever to address food sufficiency, but energy rests firmly on the government’s shoulders.
[Nigeria Business Week] Andrea Ayemoba: Domestic savings, capital formation meet infrastructure demands
The Federal Government is taking huge strides to strengthen the infrastructure and agriculture industries in Nigeria.
[Column] Phyllis Wakiaga: Energy Reforms: A catalyst for an emerging economic powerhouse
The discourse on energy sector reforms is not unique to manufacturers but Kenyans at large, as many grapple with the high cost of electricity and frequent power outages.
[Column] Mathew Hall: Why off-grid solutions are starting to make more sense to South Africans
With load shedding back and disrupting day to day life, compounded by consumers feeling the 15% increase on their electricity bill, alternative sources of energy are starting to look more attractive to South Africans.
Eastern and Southern Africa's vast renewables potential offers route to sustainable growth, IRENA
Eastern and Southern Africa are vast, geographically diverse regions with rapidly growing populations and rising demands for energy. According to master plans for the two regional power pools, electricity demand is set to grow.
[Interview] Essi Farida Geraldo, CEO, Architecte urbaniste, Togo
Passionate about art and creation and ended up in immersing in the field of architecture and design, Essi Farida Geraldo is the CEO of Architecte urbaniste an architectural and sustainable development firm which offer classic eco-architecture and urban planning services in Togo.
[Column] Andres Vega: Powerships: A solution for Africa’s energy short-term supply?
Energy poverty represents one of the most critical challenges for development in Africa. According to the International Energy Agency, in 2019, the continent had more than 580 million people without electricity access.
[Column] Grace Goodrich: Driving deal making in Mozambique post-COVID-19
While overall transactions dropped by eight percent in sub-Saharan Africa in 2020, in Mozambique, the number of transactions rose, with 12 deals reported compared to only four deals in 2019, according to a Baker McKenzie analysis.
[Column] Titilayo Adewumi: Building greater sustainability, climate resilience in West Africa
Across Africa, urban centres are rapidly expanding as the continent’s large – and growing – youth population seek better fortunes in the city.
[Column] Charné Hundermark: South Sudan pursues a power sector revival
South Sudan is re-directing its focus on power sector development in a bid to dramatically transform its electricity market, which faces a deficit of approximately 170 MW and has led to one of the lowest electricity access rates globally.
Djibouti bets on Doraleh facility, infrastructure projects to grow economy
In spite of the particularly challenging international economic situation arising from the health crisis, the Republic of Djibouti has entered the year 2021 with determination.
[Column] Gaopalelwe Santswere: What the future hold for South Africa’s energy mix
South Africa relies on coal-fired power stations to produce approximately 90% of its electricity. Moving forward, the country's aim should be to reduce this percentage.
[Startup Interview] Tony Botha, Managing Director, carbonTRACK Africa, South Africa
carbonTRACK Africa is a South Africa technology startup that seeks to create a world where energy is consumed sustainably, shared fairly and empowers all people.
Rystad Energy analysis shows Africa’s renewable energy capacity is set for consecutive years of growth
Africa’s installed capacity of renewable energy, which stood at 12.6 gigawatt (GW) in 2019, is set for consecutive years of growth, a Rystad Energy analysis shows.
[Column] Emma Colenbrander: Is an Amazon for Africa’s “energy poor” in the making?
A majority of consumers in Africa still live off the grid, in what are commonly called "last-mile" communities.
New economic analysis for Malawi calls for efficient public investment management to improve service delivery in water and energy
Malawi faces an infrastructure investment gap in the energy and water and sanitation sectors of approximately $332 million per year due to limited fiscal space combined with weak public investment management and inefficient State Owned Enterprises.
[Column] Phyllis Wakiaga: Promoting sustainability through energy efficiency and conservation
Energy Efficiency might sound like ‘ Board Room speak’ to many, but what is it really?
New analysis shows onshore wind potential across Africa enough to power the entire continent many times over
Developing Africa’s huge onshore wind energy potential can boost its transition to affordable and reliable clean energy. For the first time ever, wind and solar made up the majority of the world’s new power generation in 2019.
Finance for renewables in developing countries on the rise, IRENA highlights
Global finance to developing countries in support of clean and renewable energy reached $21.3 billion in 2017, which almost doubles the level from 2010 when international financial flows were at $10 billion.
[Column] C. Derek Campbell: Stakeholders engagement and security will be key to ensure success of Mozambique’s LNG projects
The scale and enormous economic potential of Mozambique’s LNG projects constitutes a seminal effort with national, regional and global implications and visibility.
[Column] Toufik Khitous: How Egypt bets on renewables to meet expected energy demand surge
To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic?