Author: Maingi Gichuku

•  In Vienna, Austria, South Sudan invites investors to explore investment opportunities in exploration, production, development, and midstream and downstream projects.
• South Sudan oil and gas market will grow at 5 per cent between 2019 and 2028, projections show.
• The show in Vienna is in readiness for South Sudan Oil & Power 2024 expo set for June 2024. 

A delegation of top government officials from Juba is in Vienna Austria, as South Sudan woos oil and gas industry investors to boost Africa’s youngest nation’s international trade.

The Ministry of Petroleum in South Sudan, in collaboration with Energy Capital & Power, has officially launched the South Sudan Oil & Power (SSOP) 2024 show. As an OPEC+ member, South Sudan is strategically positioning itself as a key player in the global petroleum industry and is attracting renewed interest in onshore oil and gas investments. SSOP 2024 will take place in Juba …

• Kyosk Digital Services has entered the African fresh produce market with the introduction of its Farm and Fresh line of business.
• By connecting businesses, and consumers, Kyosk.App will facilitate transactions and enhances efficiency in supply chains.
• Kyosk’s Farm & Fresh line aims to offer consistent market access, fair pricing, essential information and insights, and access to agricultural inputs.

Kyosk Digital Services, a digital-first and data-led distribution platform, is entering into the African fresh produce market with the introduction of its Farm and Fresh line of business.

This move follows Kyosk’s recent acquisition of KwikBasket, a well-established player in the agricultural industry. KwikBasket is known for its expertise in distributing agricultural products and providing valuable services to farmers. It also serves commercial kitchens, and other stakeholders in the food chain.

Specializing in online retail distribution, Kyosk Digital Services adopts a digital-first approach and leverages data-driven insights. The company aims to revolutionize …

• The outlook is based on GCR’s expectations of Shelter Afrique’s stability in governance structures and operational frameworks.
• GCR said the ratings could improve with significant enhancements in Shelter Afrique’s asset quality.
• The institution underwent re-alignment and introduced a new organizational structure and operating model to support innovation.

South African rating agency GCR has assigned Shelter Afrique a positive outlook, anticipating a return to profitability within the next two years. GCR gave the pan-African housing development financier long and short-term issuer ratings of B- and B respectively.

The shift to a positive outlook reflects significant improvements in fundamentals and ongoing governance reforms within the organization. Shelter Afrique cut its non-performing loan ratio to 51 per cent by December 2022 from 67 per cent in 2021 .

GCR stated, “The outlook is positive based on our expectations of stability in governance structures and operational frameworks. We also factor in improvements in risk …

• The Republic of Congo Energies forum will be part of this year’s African Energy Week (AEW) expo.
• The conference and exhibition are scheduled for October 16-20, 2023 in Cape Town.
• Forum will facilitate new oil and renewable energy investment deals for the country.

Invest in the Republic of Congo Energies forum will be a part of this year’s African Energy Week (AEW) conference. Recognized as Africa’s foremost energy event, AEW will take place in Cape Town from October 16 to 20, this year.

Under the theme of ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets’, the Invest in the Republic of Congo Energies country spotlight will bring together energy policymakers and companies from the central African country with global investors. The forum aims to address pressing industry challenges while showcasing and optimizing energy transition opportunities.

Unlocking the country’s potential

The Republic of Congo is …

• ATI has supported a $305M loan by Deutsche Bank to Angola’s Ministry of Finance.
• The loan will support the construction and rehabilitation of a national road project.
• Angola is prioritizing transportation and logistics network to improve trade.

African Trade Insurance Agency (ATI) has provided $350 million assistance to Deutsche Bank with a thorough nonpayment insurance cover. The insurance will protect the bank against non-payment by the Government of Angola on the loan advanced to the Ministry of Finance. The ministry will build and repair Angolan National Road.

Angola transport and logistics system

The infrastructure project is a top priority for the government of Angola and is crucial for the country’s growth. It would strengthen the transport and logistics system in a geographically important corridor while facilitating trade. It will improve access to the port of Luanda while acting as a supplemental route to the Luanda Railway. The railway is a …

• Africa suffers substantial financial losses due to cyberattacks, estimated to exceed $3.5 billion annually.
• The increasing interconnectedness and flow of people, goods, and information across the region, will intensify cyber risks.
• Developing local cybersecurity capabilities, investing in digital skills development will be critical in tackling threats.

An analysis by global management consulting firm Kearney is calling for urgent efforts for Africa to develop a comprehensive and forward-looking approach to tackle cybersecurity threats. The June 20th report: Cybersecurity in Africa: A Call to Action, emphasizes the growing scope of cyberthreats and the need to ensure Africa’s unhindered entry into the digital economy.

According to Rob van Dale, a Partner at global management consultancy Kearney, “Africa needs a comprehensive agenda to address its low cyber resilience, deal with the scale of cyber threats, and ensure Africa’s unobstructed leap into the digital economy.”

A four-point agenda

The report proposes a four-point agenda that …

Cobalt mining in the Democratic Republic of Congo (DRC) remains crucial in meeting global demand due to its usage in electric vehicle batteries and electronic devices.

However, the industry is marred by grave human rights abuses, including unsafe working conditions and child labour. Efforts must be made to reform mining practices and address the challenges associated with informal or artisanal mining sites.…

• Equity Group will pay $48.1 million for 91.93% stake in Cogebanque and intends to make an offer for the entire ownership.
• Cogebanque is a public Ltd company licensed by the central bank of Rwanda  and ranks as the fifth largest lender. 
• Upon Equity Bank’s amalgamation with Cogebanque, it will become the second largest bank in Rwanda.

Kenya-based regional lender Equity Group is acquiring Compagnie Générale de Banque (Cogebanque) PLC Ltd in Rwanda. The agreement, represented by a binding term sheet, will see Equity Group pay a total cash consideration of $48.1 million to obtain a controlling equity stake of 91.93 percent.

Upon completion of the transaction, Equity Bank’s amalgamation with Cogebanque would position it as the second largest bank in Rwanda. The entity will have a combined assets market share of 18 per cent and a deposits market share of 19 per cent, based on audited accounts as of December …

• Japan’s Export Credit Agency, NEXI is the newest shareholder of ATI, with a $14.8 million capital injection.
• The two organisations have a long-standing strategic partnership of boosting Japanese investment and trade across Africa.
• NEXI provided reinsurance support to ATI for Sumitomo’s investment in Safaricom Ethiopia.

The African Trade Insurance Agency (ATI) has welcomed Nippon Export and Investment Insurance (NEXI) as its latest shareholder, as Japan’s export credit agency joins the Pan-African guarantee institution.

NEXI’s capital injection of $14.8 million further strengthens the enduring and expanding partnership between Africa and Japan. The deal syncs within the framework of the Tokyo International Conference on African Development (TICAD). Through this collaboration, ATI and NEXI will facilitate Japanese trade and promote Foreign Direct Investment (FDI) into Africa.

Promoting Japan-Africa trade

“Our strong collaboration with NEXI in recent years fostered within the TICAD framework has been instrumental in promoting trade and investment between Japan and …