Author: The Exchange

• The funding round was led by QED Investors, with participation from Norrsken22, alongside follow-on investment from Ventures Platform, P1 Ventures, and Seedstars.
• This equity-based capital injection brings Nigeria-based Raenest’s total venture funding to $14.3 million.
• Raenest seeks to expand into the U.S. and Egypt markets this year while also using the funding to attract and retain top talent.

Raenest has secured $11 million in Series A funding, a financial backing that will see the global multi-currency accounts platform for individuals and businesses further expand its presence in Kenya and in its headquarters in Nigeria.

In a statement, Raenest said it also seeks to expand into the U.S. and Egypt markets this year, further broadening its impact with customers from African. Additionally, the new funding is part of a broader plan for the fintech giant to attract top talent to accelerate its growth momentum.

Speaking on the announcement, Victor Alade, CEO …

• The world has lost one of the most significant figures in global philanthropy and development.
• At the age of 88, His Highness Prince Karim Al-Hussaini, the Aga Khan IV, died quietly in Lisbon, Portugal, with his family by his side.
• His vision and leadership, as the founder of the Aga Khan Development Network (AKDN) and the 49th hereditary Imam of the Shia Ismaili Muslim community, have changed the lives of innumerable people in Africa and beyond.

The Aga Khan IV: An Advocate for the Advancement of the world

His Highness the Aga Khan IV is one of the few world leaders who has had such a lasting influence on Africa. From Kenya to Mozambique, Uganda to Tanzania, his decades-long dedication to social and economic development has had an impact on the continent. He led programs that raised millions of people, irrespective of their background, colour, or religion, and created enduring …

• In Eastern DRC, dead bodies lie in the streets, hospitals are overwhelmed and there has been an uptick in reports of sexual violence, rape and looting.
• In Kinshasa, protesters have stormed and torched the embassies of USA, France, Belgium, Uganda, Rwanda, and Kenya demanding push back against the advance of M23 rebels.
• UN says 300,000 people uprooted from camps around Goma in a matter of days.

Latest reports from Goma in eastern Democratic Republic of the Congo (DRC) from UN teams on the ground indicate a fast-deteriorating situation on Tuesday amid an ongoing assault by M23 rebels on the provincial capital. Dead bodies lie in the streets, hospitals are overwhelmed and there has been an uptick in reports of sexual violence, rape and looting.

“Roads are blocked, ports are closed and those crossing Lake Kivu risk their lives in makeshift boats,” said Shelley Thakral, spokesperson for the UN World Food …

• South Sudan has vast natural resources in fisheries, forestry, and wildlife, offering potential for inclusive economic growth if managed sustainably.
• The World Bank’s Natural Resource Review highlights strategies like community-based management, investment in value chains, and improved governance to unlock this potential.
• By addressing challenges such as poor infrastructure and resource depletion, South Sudan can diversify its economy and reduce dependence on oil.

South Sudan is a nation endowed with abundant renewable natural resources, offering vast opportunities for sustainable development. According to the newly released South Sudan Natural Resource Review (NRR) report by the World Bank, the country’s fisheries, forestry, and wildlife sectors are poised to play a crucial role in driving inclusive economic growth.

However, achieving this requires strategic investments, better management practices, and community-driven approaches to harness these resources sustainably.

The wealth of natural resources in South Sudan

South Sudan’s natural habitats are among the most diverse in …

• M23 rebels, backed by Rwanda, have seized Goma in eastern DRC, prompting accusations of a “declaration of war” from the Congolese government.
• The conflict has escalated tensions between DRC and Rwanda, with international calls for de-escalation and emergency summit planned in Nairobi to address the crisis.
• Thousands have been displaced, and the humanitarian toll continues to worsen in a region already plagued by decades of instability.

Gunfire echoed across Goma, the largest city in the eastern Democratic Republic of the Congo (DRC), as M23 rebels claimed to have seized the city on Sunday. The announcement by the Rwanda-backed rebel group came despite the United Nations Security Council’s (UNSC) calls for an immediate halt to hostilities.

Goma, home to nearly two million residents, was thrust into chaos as reports emerged of exchanges of fire between DRC and Rwandan troops along the shared border on Monday.

In a statement on social media …

• Moody’s has revised Kenya’s sovereign credit outlook from “negative” to “positive,” marking a key shift just seven months after the country’s downgrade.
• Despite the optimistic revision, Kenya’s fiscal landscape remains fraught with challenges.
• Kenya’s revenue collection efforts remain a critical factor in the country’s fiscal recovery.

Global credit ratings agency Moody’s has revised Kenya’s sovereign credit outlook from “negative” to “positive,” marking a significant shift just seven months after the country’s downgrade.

While the long-term issuer ratings for both local and foreign currency remain at Caa1, this upgraded outlook highlights Kenya’s potential for improving debt affordability and mitigating liquidity risks. Despite this positive development, Kenya continues to grapple with high financing needs and weak debt affordability, presenting both opportunities and hurdles.

Moody’s announcement last week cites Kenya’s progress in addressing liquidity challenges as the key driver of the improved outlook. The agency acknowledges the declining domestic financing costs and easing …

• Mission 300 aims to connect 300 million Africans to electricity by 2030, addressing the continent’s significant energy deficit and driving transformative development.
• The initiative banks on partnerships, innovative financing, and renewable energy projects like mini-grids and solar plants to overcome infrastructure and policy challenges.
• Success hinges on bold reforms, private sector investment, and collaborative action to reshape Africa’s energy future.

Africa’s energy landscape has long been a tale of untapped potential, innovation, and persistent challenges. With over 600 million people lacking access to electricity—representing 83 per cent of the world’s energy-deprived population—the continent’s policymakers face a monumental task in lighting up its future.

Enter Mission 300, an ambitious initiative spearheaded by the African Development Bank (AfDB), the World Bank Group, and a coalition of global partners. Mission 300 aims to connect 300 million Africans to electricity by 2030. But can this initiative finally brighten Africa’s energy horizon? Let’s explore.

A

• Algeria has launched a $50Bn investment drive to revitalize its hydrocarbon sector, starting with a 2024 licensing round offering six onshore blocks to domestic and international investors.
• Backed by extensive seismic data and a transparent bidding process, the initiative aims to attract global energy players while aligning with sustainability trends.
• This marks the first step in Algeria’s five-year strategy to position itself as a key energy hub in North Africa.

Algeria, one of the key players in the global energy market, is embarking on an ambitious journey to inject $50 billion into its hydrocarbon sector over the next four years. This investment drive aims to rejuvenate the nation’s exploration and production activities, signaling a new era of energy innovation and international collaboration.

Central to this transformative initiative is Algeria’s 2024 licensing round, which has captured the attention of global energy stakeholders and positioned the country as a beacon for hydrocarbon …

• US President Donald Trump is among the top 40 Movers and Shakers who are poised to drive change in Africa’s energy sector this year.
• The list by the African Energy Chamber includes various Heads of State and Captains of industry whose focus on sustainable development, investment mobilization and energy sovereignty will define the continent’s future.
• The accomplishments and strategies of the 40 Movers and Shakers will be critical to addressing industry challenges and harnessing opportunities for the continent’s growth.

A mix of leaders, policymakers, innovators and corporate executives are poised to further drive change across Africa’s oil, gas and energy industries, the latest update by the African Energy Chamber (AEC) shows.

The list, which is an annual benchmark of influence and innovation, announces leaders at the forefront of advancing Africa’s energy potential. According to the AEC, these individuals are reshaping narratives, overcoming challenges and championing investment and sustainability in their …

• Joseph Kony is suspected of 36 counts of war crimes and crimes against humanity, allegedly committed between at least 1 July 2002 until 31 December 2005 in northern Uganda.
• Ugandan Kony is still at large, 19 years after his arrest was ordered by the International Criminal Court.
• On 12 December 2024, ICC judges scheduled the confirmation of charges hearing to start on 9 September 2025, in the absence of the leader of the Lord’s Resistance Army (LRA).

1. WHO IS JOSEPH KONY?

Joseph Kony was born in September 1961 in Uganda. He is of Acholi ethnicity and a national of Uganda. He is the alleged founder and leader of the Lord’s Resistance Army (“LRA”), a Ugandan rebel group that originated in 1987 in northern Uganda among ethnic Acholi communities.

2. IS MR KONY IN THE ICC CUSTODY?

No, the suspect, Joseph Kony, is still at large, 19 years after his arrest was …