Author: Kang'ethe Njoroge

• Airtel Africa has launched Nxtra by Airtel (“Nxtra”), a new data center business, as demand for data centers continues to rise across the continent.
• Nxtra aims to build one of the largest networks of data centers in Africa, with high-capacity data centers strategically located in major cities across Airtel Africa’s footprint, complementing its existing edge sites.
• Airtel Africa’s Group CEO, Segun Ogunsanya, said that a rapid increase in data center capacity is needed to support the growth potential of Africa’s digital economy.

Airtel Africa has launched Nxtra by Airtel (“Nxtra”), a new data center business, as demand for data centers continues to rise across the continent.

Nxtra aims to build one of the largest networks of data centers in Africa, with high-capacity data centers strategically located in major cities across Airtel Africa’s footprint, complementing its existing edge sites.

Airtel Africa’s Group CEO, Segun Ogunsanya, stated that a rapid increase in …

• Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million to expand into five new African markets to increase insurance penetration in markets characterized by low uptake.
• Company Founder and CEO Adelaide Odhiambo says the investment would be raised over the next three years.
• The insurer is partnering with Mobile Network Operators and banks to distribute affordable micro-insurance products, with plans to enter Uganda, Nigeria, Ethiopia, Malawi, DRC, Tanzania, Rwanda, and Zambia.

Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million as the firm seeks to expand into five new African markets, aiming to increase insurance penetration in regions characterized by low uptake. Adelaide Odhiambo, Founder and CEO of Bluewave Insurance Agency, stated that the investment would be raised over the next three years to support the expansion plans.

Bluewave Insurance Agency’s new target markets

The company has forged partnerships with large aggregators, specifically Mobile Network Operators …

• The UAE Banks Federation (UBF) has committed to mobilize $270 billion in sustainable finance by 2030.
• His Excellency Abdulaziz Al-Ghurair, Chairman of the UAE Banks Federation, announced the pledge at an event jointly organized by the Central Bank of the UAE and the COP28 Presidency, aiming to support and facilitate global climate finance solutions and progress towards a sustainable future.
• UBF has been working closely with its partners on sustainability efforts to accelerate and advance sustainable development goals.

The UAE Banks Federation (UBF), the sole representative and unified voice of banks in the UAE, has committed to mobilize $270 billion in sustainable finance by the year 2030. His Excellency Abdulaziz Al-Ghurair, Chairman of UBF, announced the pledge at an event jointly organized by the Central Bank of the UAE and the COP28 Presidency, aimed at supporting and facilitating global climate finance solutions and progress towards a sustainable future.

“The pledge …

• The AfDB and Prince Trust International have signed a deal to address youth unemployment while scaling up human capital and entrepreneurship.
• The MOU commits both institutions to collaborate to identify and develop partnership opportunities to mainstream employability skills for technical and vocational education and training (TVET) projects funded by the Bank.
• The Prince’s Trust will participate in preparing, designing, implementing and monitoring TVET and skills development projects.

Youth unemployment, human capital, and entrepreneurship opportunities in the continent are set to be addressed through an agreement signed by the African Development Bank (AfDB) and Prince’s Trust International.

The MOU commits both institutions to work together to identify and develop partnership opportunities to mainstream employability skills for technical and vocational education and training (TVET) projects funded by the Bank in countries of common interest.

Skills development to tackle youth unemployment

The Prince’s Trust will participate in preparing, designing, implementing and …

• TotalEnergies is divesting its minority stake in National Petroleum Refiners of South Africa in line with it’s strategy to divest non-core assets.
• The firm has signed a deal to divest its 36.36 minority stake held by  TotalEnergies Marketing South Africa in National Petroleum Refiners of South Africa to the Prax Group.
• The transaction is subject to regulatory approvals, consents and authorisations.

Global energy heavyweight TotalEnergies has announced plans to divest its minority stake of 36 per cent held in National Petroleum Refiners of South Africa in line with its strategy to divest non-core assets.

The firm declared on Friday that it has signed a deal to divest its 36.36% minority stake, held by TotalEnergies Marketing South Africa, in National Petroleum Refiners of South Africa (Natref) to the Prax Group.

The Prax Group is a British multinational independent refining, storage, distribution, and sales conglomerate dealing in crude oil, petroleum products, and …

• Kenya’s online retailer, Sky.Garden has relaunched operations following a $1.6 million buyout by Lipa Later Group. 
• This move has propelled Sky.Garden will revamp its platform, aiming to onboard 100,000 merchants in 2024.
• The revamped platform introduces a suite of new products, including Sky.Tickets, Sky.Logistics, Sky.Commerce, and Sky.Wallet.

Sky.Garden, one of Kenya’s online retail platforms, has relaunched operations in East Africa’s most advanced economy following a $1.6 million buyout by the Lipa Later Group.

This strategic move has propelled Sky.Garden will revamp its platform, introducing innovative features and diversified product offerings, to onboard 100,000 merchants by 2024.

During the launch event, Juliet Wanjiru, the Head of e-commerce at Sky.Garden shared the company’s visionary strides, highlighting the platform’s evolution into a comprehensive e-commerce ecosystem transcending conventional online retail. Wanjiru emphasized.

Sky.Garden unveils a new suite of platforms.

“Today marks a significant milestone in the evolution of Sky. As we embark on a …

• Africa’s Digital and Technology experts are gearing up for the highly anticipated 8th edition of Digital and Technology Week (DTW), set to unfold from the 4th to the 6th of December 2023 in Nairobi, Kenya.
• The event, organised by Go Gaga Experiential, aims to provide unparalleled industry insights, explore emerging trends, and accelerate growth within the sector.
• This three-day conference will bring together Corporates, Agencies, Government entities, Media, and Technology companies, both local and international, to deliberate on the rise of digital technologies and their societal impact. Moreover, the event will culminate in an award ceremony celebrating the 7th Edition of the Digital Media Awards (DMA).

Africa’s Digital and Technology experts are gearing up for the highly anticipated 8th edition of Digital and Technology Week (DTW), set to unfold from the 4th to the 6th of December 2023 in Nairobi, Kenya. The event, organised by Go Gaga Experiential, aims to …

• Kenya’s SBM Bank has announced its commitment towards increasing its ESG investment in the country.
• The commitment is aimed at providing sustainable financing for projects that will allow access to clean, reliable, and affordable energy. 
• The move follows a partnership between the Bank and Safer Power in renewable energy in Lukenya that will connect Stoni Athi Resort to off-grid solar power.

ESG investments in East Africa’s most advanced economy are expected to increase as SBM Bank deepens its commitment in Kenya’s sustainability drive. The commitment to prioritise financing projects aligning with Environmental, Social and Governance (ESG) is aimed at providing sustainable investments that optimise in the use of clean, reliable, and affordable energy. 

The announcement follows the partnership between the Bank and Safer Power in renewable energy in Lukenya that plans to connect Stoni Athi Resort to off-grid solar power.

“Our focus through this collaboration is to empower businesses within …

• An estimated 56 percent of global investors are preparing to increase their ESG investments in 2024 amidst escalating climate change challenges.
• This trend is occurring even as awareness among investors about ESG significantly increased in recent years.
• Currently, over 70,000 political and business leaders, diplomats, financiers, and activists are converging on Dubai to discuss ways to avoid environmental disaster due to climate change at COP28.

A new study from deVere Group, an independent financial advisory, asset management, and fintech organization, reveals that more than half of global investors plan to increase their Environmental, Social, and Corporate Governance (ESG)-oriented investments in 2024.

The study, which polled over 800 investors, shows that 56 per cent of global investors are gearing up to increase their ESG investments in 2024 amidst escalating climate change challenges.

These findings come as more than 70,000 political and business leaders, diplomats, financiers, and activists converge on Dubai …

• Cash-strapped Kenyan startup Twiga Foods has raised an undisclosed funding amidst operational restructuring attributed to tough market conditions. 
• The firm announced that it has successfully closed a capital raise to fund its transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders. 
• The move comes months after the firm announced that it will lay off a third of its 850 permanent employees. 

Cash-strapped Kenyan startup Twiga Foods has raised an undisclosed funding amidst operational restructuring attributed to tough market conditions. 

The firm on Monday, announced that it has successfully closed a capital raise to fund its transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders. 

The move comes months after the firm announced that it will lay off a third of its 850 permanent employees. 

Twiga Foods chairman says firm on track to digitize retail economy

“The company …