Author: Maingi Gichuku

Maingi Gichuku is passionate about helping African businesses grow by offering technology solutions. With a BSC in Zoology and biochemistry, Gichuku yearns for an Africa that can find solutions to its challenges. My drive is to see an economically dynamic Africa and embrace its populations by creating opportunities cutting across the social and economic strata.

Energy & Tourism in Senegal and The Gambia
  • The governments of Senegal and The Gambia are tapping on revenue from energy and tourism to grow their economies.
  • Senegal is strategically using energy projects to catalyze the growth and redevelopment of tourism destinations.
  • By leveraging tourism earnings, The Gambia seeks to fuel infrastructure development and catalyze its overall economic growth.
In Senegal and The Gambia, the intersection of the energy and tourism industries presents a unique opportunity for sustainable development and economic growth. The country is strategically utilizing energy projects to not only meet its increasing energy demands but also to catalyze the growth and redevelopment of potential tourism destinations.

Blending energy and tourism sectors in Senegal

A prime example of this synergy is the Sandiara Special Economic Zone (SEZ), which incorporates a gas-to-power and solar facility, positioning itself to power tourism hotspots along the country’s scenic southern coast.

One such destination is Mbodiene, a picturesque fishing village located …

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African Development Bank Group rallies behind Zambia
  • The African Development Bank offers an initial $150M to Zambia for budgetary support.
  • Fresh from striking a debt restructuring agreement with creditors, Zambia will also get an additional $168M per year from AfDB’s non-concessional window.
  • AfDB President Dr. Akinwumi Adesina says the lender will aid Zambia in her economic recovery efforts.

Fresh from a successful $6.3 billion debt restructuring deal with bilateral creditors, the African Development Bank (AfDB) is rolling out $150 million support line for Zambia to accelerate the country’s recovery efforts.

In June this year, the International Monetary Fund (IMF) lauded the debt treatment agreement struck by Zambia and its official creditors under the G20 Common Framework.

During a meeting with AfDB, Zambia President Hakainde Hichilema acknowledged the significant progress made on official creditor debt. Hichilema, however, highlighted the need to address debt owed to local and external commercial creditors, including Eurobond holders. He expressed the desire to …

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Vantage Capital invests US$25 million in Aquasantec International
  • Vantage Capital pumps $25M in Aquasantec International for water, sanitation, and hygiene projects across East Africa.
  • Vantage Capital acquired a controlling shareholding in the Group, while also seeing the disposal of shareholdings by the founding Shah family, the Ramco Group, and Terra Mauricia.
  • The partnership between Vantage Capital and Aquasantec exemplifies the transformative impact that strategic investments can have in the vital sectors of water, sanitation, and hygiene

Vantage Capital, a renowned mezzanine debt fund manager in Africa, has made a significant investment in Aquasantec International. Aquasantec is a manufacturer and distributor of water tanks, pipes, and related products, dedicated to addressing the critical needs of water, sanitation, and hygiene across Eastern Africa.

This strategic investment, totalling $25 million was executed in June 2023, and it encompassed both mezzanine debt and ordinary equity. It will result in Vantage Capital acquiring a controlling shareholding in the Group as part of a …

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Putin South Africa
  • South Africa says Russian President Vladimir Putin will skip planned BRICS summit in Johannesburg in August.
  • Since he was charged with war crimes by the ICC in March for kidnapping children from Ukraine, Putin has avoided travelling.
  • On July 15, Putin talked with Ramaphosa on BRICS and the status of the Black Sea grain deal.

South Africa says Russian President Vladimir Putin will skip planned BRICS summit in Johannesburg next month because of his ICC arrest warrant. South Africa, which was facing a major diplomatic challenge on whether to arrest Putin, says it has requested the Russian President to stay away from the summit.

Putin was charged with war crimes by the ICC in March for the kidnapping of children from Ukraine. Since then, Putin has been avoiding travelling to all nations that are party to the court’s treaty.

Following a “mutual agreement,” the office of South African President Cyril …

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Digital Economy
  • Africa only accounts for one per cent of the global digital economy. The US, China, and Asia hold dominant positions at 68 per cent, 22 per cent, and 27 per cent respectively.
  • Ralph Mupita, President and CEO of MTN cites untapped opportunities in Nigeria’s digital economy, tipping that its potential will double by 2050 to $145 billion.
  • Businesses must adapt to Africa’s evolving digital economy and embrace key trends to seize the vast opportunities in the continent.

There is a substantial gap between the digital economy of developed and developing countries in Africa. At the moment, Africa makes up one per cent of the global digital economy, while the US, China, and Asia occupy the top three spots with 68 per cent, 22 per cent, and 27 per cent of the total. This demonstrates how crucial it is for Africa to close the digital divide and capitalize on its growth …

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economia subida de precos inflacao 1

Oxford Economics, a renowned economic analysis firm, released a report on Thursday, shedding light on Mozambique’s inflation trajectory. After a decline and reaching levels last seen in March 2022, experts project inflation to rise to 8.8 per cent in the final quarter of 2023. The imminent return of TotalEnergies to Cabo Delgado will play a significant role in this scenario. …

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Angola and DRC
  • The signing authorizes the ownership of the Common Interest Zone, with Angola and the DRC each holding a 30% stake. Global energy major Chevron, the block operator, will take a 40% share. (
  • The Angola-DRC deal sets terms and general principles for exploration, production sharing, and ownership of the highly promising offshore Common Interest Zone.
  • For Angola, sharing knowledge and expertise with the DRC will not only strengthen their bilateral relations but also power overall growth and stability of the region.

In an historic agreement, Angola and DRC are teaming up for the development of Chevron-owned oil block that will see the exploration, and production of hydrocarbons in the Common Interest Zone located on their maritime border.

The signing ceremony took place on Thursday, July 13th, in Kinshasa, with Angola’s Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, and the Democratic Republic of Congo’s Minister of Hydrocarbons,

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WhatsApp Image 2023 06 19 at 14.25.29

Rwanda’s economy displayed strong growth, with a 9.2 per cent expansion in the first quarter of 2023, following an 8.2 per cent growth in 2022. However, recent floods resulted in loss of life and infrastructure destruction, leading to a projected moderation of momentum to 5.8 per cent in 2023, slightly lower than the pre-disaster forecast of 6.2 per cent.…

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Gelegates at AIDI 23rd meeting in Kigali,Rwanda last week

African Trade and Investment Development Insurance (ATIDI), formerly known as the African Trade and Insurance Agency (ATI), has demonstrated resilience in the face of global challenges, maintaining profitability and achieving positive earnings.

Although the difficult economic environment led to a 6 per cent decline in underwriting profitability, from $34.9 million in the previous year to $32.8 million in 2022, the company experienced strong growth in net written premium, investment income, total assets, and equity capital, which reached $553 million by the end of 2022.…

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Tax Transparency in Africa progress report
  • African countries realize $1.85 billion in revenue through voluntary disclosures, information exchange.
  • World Bank study suggests information-sharing mechanisms will boost African countries’ tax revenues.
  • The report highlights the African country’s $11.6 million tax collection using common reporting standard data.

A new report shows African countries can boost revenue by disrupting Africa’s secret dance with tax evasion. Through initiatives such as voluntary disclosures, and the establishment of information exchange mechanisms, economies in Africa can poison the continent’s passion with tax evasion. Coupled with measures such as robust offshore investigations, African countries have successfully generated additional revenues amounting to a substantial $1.85 billion.

Eliminating tax evasion to build wealth

These revelations are contained in the 2023 Tax Transparency in Africa progress report presented during the 13th meeting of the Africa Initiative in Cape Town.

African countries are adopting these initiatives to combat tax evasion, advance transparency, and improve their capacity to

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