Author: James Wambua

• The trio’s capital boost represent 44% of the minimum funds required from oil producing countries in Africa.
• Africa Energy Bank seeks to fund oil and gas projects across economies in Africa, plugging gaps that exists through the continent’s overreliance on financiers from the West.
• Quite often, financiers from the west are reluctance to pump billions in fossil fuel projects in Africa citing environmental concerns.

The push to better finance capital intensive projects in Africa has received a boost after Nigeria, Angola and Ghana contributed their capital shares to the Africa Energy Bank. In an update on Wednesday, the African Petroleum Producers Organization (APPO) said the trio’s contributions represent 44 per cent of the minimum capital that is required from oil producing countries in the continent.

According to APPO Secretary General Dr. Omar Farouk, the Africa Energy Bank seeks to fund oil and gas projects across economies in Africa, helping to …

• Russia’s leading energy giants including Gazprom and Rosatom are rapidly expanding their influence across the continent.
• The African Energy industry is experiencing industry engagements—spanning oil, gas, and nuclear sectors powered by Russian firms.
• But beneath the surface of these high-profile deals lies a complex web of opportunities and challenges that will define Africa’s energy future.

The business case presented by African energy is increasingly attracting moneyed suitors. This billion-dollar opportunity has placed the continent at a pivotal moment in its energy evolution. As global powers jostle for influence, Russia is increasingly emerging as a key player, pivoting on its energy expertise to forge strategic partnerships across the continent.

According to the African Energy Chamber (AEC) Russia’s engagements—spanning oil, gas, and nuclear sectors—are reshaping the African energy industry. But beneath the surface of these high-profile deals lies a complex web of opportunities and challenges that will define Africa’s energy future.

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• Kenya and the UK are equipping officials with policy tools aimed at improving regulatory environment to attract investment and growth.
• UK businesses have cited challenging operating environment as the main barrier to business operations in Kenya, along with power outages and high electricity costs.
• Increased efficiencies in this space would also be boost intra-African trade though increased compliance with the African Continental Free Trade Area (AfCFTA).

A new push, Kenya-UK partnership, is paving the way for a stronger export trade framework through a specialized workshop aimed at equipping Kenyan officials with the skills to refine business regulations. As East Africa’s largest economy, Kenya stands to benefit from streamlined policies that enhance trade efficiency, attract investment, and create a more business-friendly environment.

This initiative underscores a shared commitment between the two nations to bolster economic growth by fostering regulatory reforms that support thriving enterprises. The three-day event, held in Nairobi, aims …

• An alliance of two UK institutions—the Ghana International Bank and the British International Investment (BII)—is tailored to address trade finance needs in key African markets.
• The two institutions have committed $50 million in trade finance facilitation targeting industry stakeholders in Rwanda, Tanzania, Sierra Leone, Liberia, The Gambia, Benin, the DRC.
• The financing plan seeks to plug banking industry gaps that continue to perpetuate general lack of credit appetite for frontier markets in Africa.

A UK-based African financial institution, the Ghana International Bank has entered into a $50 million trade finance agreement with British International Investment (BII) to fund organisations in eight countries across the continent.

In a statement on Monday, the UK’s development finance institution (BII) said the trade finance facility will target investments in Tanzania, Rwanda, Sierra Leone, Liberia, The Gambia, Benin, and in the Democratic Republic of Congo.

“I’m delighted to see two UK institutions coming together to …

• Part of Afreximbank’s funding will go to Dongo Kundu Industrial Park within the Mombasa Special Economic Zone.
• Another chunk will finance the construction of Naivasha II SEZ that includes a free trade zone, an industrial park, a logistics zone and a public utility area.
• The Naivasha II project will also derive value from its strategic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System that serves Uganda, South Sudan, DRC among other countries.

The Afreximbank has entered into a financing agreement with Kenya to finance the development of industrial parks, special economic zones, and export-oriented manufacturing projects to the tune of $3 billion.

In an update, the trade development lender said this three-year investment plan will be critical in bolstering Kenya’s export manufacturing at a time when the East African nation is keen on reviving its ailing manufacturing industry.

“These Parks …

• AIM Investment Awards & AI World Championship now set for March 7, 2025.
• Future Cities Awards & Global Manufacturing Awards to go on March 9, 2025.
• Future Finance Awards will be held on March 14, 2025 while Startup Pitch Competition are set for March 20, 2025.

The AIM Congress has officially extended the application deadline for its 2025 Congress Awards, attributable to increasing responses from potential applicants across various categories globally.

The decision underscores the growing prestige of the awards and the increasing number of cutting edge entries from individuals and organizations worldwide. In an update, AIM Congress said the extension seeks to accommodate the overwhelming interest and ensure a broader, more competitive playing field. This extension alos offers a crucial opportunity for visionaries, industry leaders, and change-makers to showcase their groundbreaking initiatives, it said.

As the investment landscape continues to evolve, the awards serve as a platform for recognizing …

• Through various AfDB financing programmes across Africa, a total of 61M people have gained access to clean water since 2015.
• Another 33M people have benefited from improved sanitation while 46M Africans have gained access to ICT services, even as 25M people gained access to electricity.
• Next up for AfDB is the push to connect 300M Africans to electricity by 2030, and measure Africa’s vast green wealth as part of the continent’s GDP.

The African Development Bank (AfDB) positively impacted over 515 million lives over the past 10 years, the lender’s President Dr. Akinwumi Adesina has revealed. While addressing Heads of State and Government at the just concluded 38th session of the African Union Summit, Dr. Adesina said the bank has positively impacted 231 million women during the decade under review.

While sharing his scorecard before the august gathering, Dr. Adesina noted that AfDB‘s initiatives have led to 127 million …

• The AfDB projects real GDP growth to accelerate to 4.1 percent in 2025 and 4.4 percent in 2026.
• However, Africa’s growth remains below the 7 percent threshold required for substantial poverty reduction.
• The continent also continues to grapple with geopolitical tensions, structural weaknesses, climate-related disasters, and prolonged conflicts in regions such as the Sahel and the Horn of Africa.

Africa’s economy is picking up, showing signs of improvement but remains vulnerable to persistent threats that could derail economic gains in the next 12 months.

According to the 2025 Macroeconomic Performance and Outlook (MEO) by the African Development Bank (AfDB), the continent is forecast to post a GDP growth of 4.1 percent in 2025 and 4.4 percent next year. This economic expansion is attributable to ongoing economic reforms, declining inflation, and improved fiscal and debt positions.

The AfDB report was unveiled on the sidelines of the 38th Ordinary Session of the …

• Looters have wiped out with an estimated 7,000 tonnes of critical humanitarian food supplies in Bukavu City.
• Bukavu, the second largest city in DRC fell to Rwanda-backed M23 rebels at the weekend just weeks after the militia took over Goma in the escalating conflict that worsened in January.
• According to aid organizations, the war in eastern DRC has caused a shortage of humanitarian routes and is now threatening the smooth delivery of essential services in the mineral-rich region.

Food aid in the Democratic Republic of Congo (DRC) took a devastating hit over the weekend, with 7,000 tonnes lost to looting, further deepening the crisis as M23 rebels escalate their attacks. The UN World Food Programme (WFP) has condemned the looting of thousands of tonnes of relief supplies in the city of Bukavu in the eastern DRC after Rwanda-backed M23 rebels swept in at the weekend, reportedly meeting …

• Afrobarometer survey shows that most countries have lost the gains they had recorded in poverty reduction between 2000 and 2015.
• An estimated 81% of the people report going without a cash income while 66% lack medicine or medical care.
• Data from 39 African countries surveyed in 2021/2023 suggests that increased corruption may play a role in resurgent lived poverty.

A growing number of Africans are trapped in the crushing grip of poverty, with the latest Afribarometer survey revealing a sharp rise in populations struggling to afford food and other basic necessities. The survey indicates that severe deprivation has reached its highest average level in 25 years.

Afrobarometer survey shows that most countries have lost the gains they had recorded in poverty reduction in the first decade and a half of the 21st century. The Afrobarometer is a Pan-African, non-partisan survey research network that provides reliable data on African experiences and …