Author: James Wambua

• Nigeria’s November PMI rose to 49.6 from 46.9 in October, marking its fifth consecutive month below the neutral 50.0 threshold.
• This reading signals an ongoing deterioration in business conditions in Africa’s biggest economy.
• Rising energy prices, expensive raw materials, and a weak naira continued to drive substantial input price inflation.

Nigeria’s private sector showed tentative signs of improvement in November 2024, as inflationary pressures eased slightly. However, steep price increases and subdued demand continued to choke businesses, pushing many to cut jobs and reduce purchasing activity.

The headline Purchasing Managers’ Index (PMI) rose to 49.6 from 46.9 in October, marking its fifth consecutive month below the neutral 50.0 threshold. This reading signals an ongoing deterioration in business conditions in Africa’s biggest economy, albeit at a slower pace.

“This less pronounced deterioration was primarily due to the return to growth of new orders in November,” said Muyiwa Oni, Head of Equity …

• Six African nations ranked among the top 10 globally for money laundering and terrorism financing risk by the 2023 Basel AML Index.
• Another 11 African countries are grey-listed by the Financial Action Task Force (FATF), including Kenya, Tanzania, and South Africa.
• The overall economic ramifications of these crimes are staggering, from lost FDI to widespread inequality.

Money laundering, corruption, and terrorism financing are no longer hidden threats—they are destructive forces ravaging Africa’s economies.

With six African nations ranked among the top 10 globally for money laundering and terrorism financing risk by the 2023 Basel AML Index, the scope of the problem is frightening. Add to this the 11 African countries grey-listed by the Financial Action Task Force (FATF), including Kenya, Tanzania, and South Africa, and the stakes become even more urgent. Mineral-rich South Sudan and the Democratic Republic of Congo stick out like a sore thumb on this dirty list.…

• The AI analyzes customer transaction histories, product interactions, and other data points to provide real-time summaries.
• This has reduced the average response time for customer inquiries by 2.5 minutes and freed up over 5,000 customer service hours per month.
• Bboxx-AWS partnership marks one of the first instances of an African business adopting generative AI at this scale.

Bboxx, a platform unlocking access to clean energy and digital products across Africa, has partnered with Amazon Web Services (AWS) to integrate generative artificial intelligence (GenAI) into its operations. This collaboration is poised to position Bboxx as a pioneer in using advanced AI to enhance customer experiences and optimize operational efficiency.

The integration focuses on Bboxx Pulse, the company’s analytics and management platform. By leveraging AI, Bboxx aims to revolutionize how it processes customer data and supports its expansive network. The initiative not only saves time, and resources, but also sets …

• AfDB slaps 12-month sanctions on China Railway Construction Engineering Group over scandal involving Tanzania’s Msalato International Airport Project.
• The hit stems from findings by AfDB, which uncovered fraud in the company’s bid for phase one of the airport project.
• However, the firm remains eligible to participate in AfDB-funded projects during the penalty period provided it adheres to strict compliance measures.

The African Development Bank Group (AfDB) has placed China Railway Construction Engineering Group under a 12-month conditional non-debarment following a fraud investigation linked to Tanzania’s Msalato International Airport Project.

This decision, effective from November 7, 2024, stems from findings by AfDB’s Office of Integrity and Anti-Corruption, which uncovered fraudulent practices in the company’s bid for phase one of the project.

The investigation revealed that the Chinese company failed to provide accurate information about its experience during the bidding process, a breach it admitted constituted fraudulent activity.

Despite the sanction, China …

• With Acumen’s boost, d.light will speed up operations in Uganda, where about 2M people will access electricity for the first time.
• By selling customer receivables to Brighter Life by d.light (BLd) upfront, d.light subsidiaries now have immediate cash flow, enabling them to scale at speed.
• This funding model not only supports financial sustainability but also mitigates currency risks by conducting transactions in local currencies.

For solar-power equipment provider d.light, the journey to lighting homes across East Africa with reliable green energy is fast gaining momentum.

In the latest move, d.light has received a $5 million investment from Acumen’s Hardest-to-Reach (H2R) initiative. This funding is poised to enhance d.light’s presence in Uganda, Kenya and Tanzania.

Acumen’s investment in d.light’s multi-country receivables financing facility, Brighter Life by d.light (BLd), aims to expand energy access for underserved communities in East Africa, creating a huge impact on millions of lives.

Acumen’s H2R is a …

• Food security, livelihoods, and economies are threatened as extreme weather conditions hit Africa hard.
• Citizens are now calling for bold action from their governments and the global community to combat this worsening crisis.
• Over 82% of Africans advocate for measures to protect communities against extreme floods, droughts, and environmental degradation.

 As climate change tightens its grip, the African continent is bearing the brunt of extreme weather conditions that have profoundly impacted food security, livelihoods, and economies.

A recent Afrobarometer survey paints a stark picture of the hard reality for millions of Africans: worsening droughts and crop failures are threatening their very survival. Citizens are now calling for bold action from their governments and the international community to combat this worsening crisis.

A decade of declining agricultural yields

Over the past decade, the majority of Africans report an alarming increase in the severity of droughts and crop failures. According to Afrobarometer…

• Fintech Raenest will be the key sponsor of the seventh edition of Africa Tech Summit Nairobi in February 2025.
• The a B2B Summit, expo, and awards forum projects to attract over 2,000 industry leaders, corporates, investors, and global delegates.
• Conference will feature four key track themes: Africa Money & DeFi, Africa Climate Tech & Investment, Africa Startup, and the Africa Mobile & App segments.

For the second year in a row, Nigerian fintech heavyweight Raenest is set to headline the Africa Tech Summit 2025 edition, reaffirming the company’s commitment to fostering growth, and collaboration in Africa.

According to the organizers, Raenest will be the key sponsor of the seventh edition of Africa Tech Summit Nairobi, which is set to be held on February 12th and 13th, 2025, at the Sarit Expo Centre.

“We are thrilled to continue as the headline sponsor of Africa Tech Summit Nairobi. This platform is pivotal …

• Organic farming offers an alternative that leverages locally available farm inputs to drive crop yields. 
• By using compost, mulching, and integrated pest control, smallholders in Zimbabwe are cutting costs and overreliance on external inputs.
• Smallholder farmers are gaining valuable skills in organic practices through partnerships with entities such as the Fambidzanai Permaculture Centre.

In recent years, Zimbabwe has experienced a steady rise in organic agriculture as a sustainable alternative to conventional farming. Facing food security challenges exacerbated by climate change, erratic weather patterns, and limited access to fertilizers, Zimbabwean farmers have turned to organic methods as a solution.

Organic agriculture, which eschews synthetic chemicals in favour of natural farm inputs, is not only helping address food shortages but is also empowering smallholder farmers with resilient and ecologically sound farming practices.

The rise of organic agriculture in Zimbabwe

Organic farming in Zimbabwe is not merely a trend but a necessity born …

• Green building in Uganda is gaining traction with several standout projects showcasing sustainable design and construction.
• Uganda’s green building strategies are rooted in a few key principles, key among them, energy efficiency, biodiversity preservation and use of sustainable materials.
• Projections by the IFC show that investment in green buildings in emerging market cities will hit $24 trillion over the next 10 years.

Uganda is making a stab at establishing itself as a leader in green urbanization in East Africa, leveraging policies such as the Uganda Green Growth Development Strategy (UGGDS). This development blueprint aims to integrate key aspects of sustainability into urban planning through eco-friendly infrastructure, green energy, and resource efficiency.

Kampala, the capital city, is increasingly welcoming green projects with authorities embracing strategies that seek to minimize environmental impact while fostering urban resilience in the face of adverse effects of climate change.

Landmark green building projects

Green building in …