Author: James Wambua

• South Africa’s Strategic Fuel Fund (SSF) operates Block B2 in South Sudan in collaboration with Nilepet.
• The company has just completed a major phase of its oil and gas exploration in Jonglei state.
• SSF recently completed undertaking the largest geophysical survey ever done in South Sudan, covering 47,000 square kilometres.

In a move marking the strengthening bilateral relations between South Africa and South Sudan, the Strategic Fuel Fund (SFF), South Africa’s state-owned petroleum company, convened a key meeting with South Sudan’s national oil company, Nilepet, in Juba last week.

The meeting was a highlight of South African President Cyril Ramaphosa’s state visit, underscoring the growing economic ties between the two nations.

The SFF, which operates Block B2 in South Sudan and collaborates with Nilepet through the Nile Orange joint venture, has recently completed a major phase of its oil and gas exploration campaign in Jonglei state. The initial aerial survey …

• Global verification body Verra certifies d.light’s clean cookstove projects in Kenya, Uganda, and Nigeria.
• Initiative to distribute 600,000 clean cookstoves, which are now verified by leading certifiers as a trusted source of high-quality carbon credits.
• Launched in 2022, these projects have already positively impacted over one million lives and are on track to transform the lives of three million people by 2025. 

d.light’s clean cookstove initiatives

In a landmark move that helps advance the journey towards sustainable development and environmental health in Africa, d.light, a firm that provides innovative solutions for low-income households, has achieved a milestone with its projects receiving certification from Verra as a trusted source of high-quality carbon credits.

This certification marks d.light’s clean cookstove initiatives in Kenya, Nigeria, and Uganda as crucial players in the voluntary carbon markets (VCMs), aiming to reduce carbon emissions, combat indoor air pollution, and curb deforestation.

Addressing environmental challenges, and earning

• The key highlight of the AIM Congress 2024 is the Investment Awards, scheduled for the opening day, May 7th.
• These awards celebrate top direct investment (FDI) projects from around the globe.
• The awards underline the diverse ways investment can contribute to economic progress with categories ranging from Innovation and Research to Sustainability and Local Linkages.

As the global investment contours keep evolving, the AIM Congress 2024 is taking shape as a critical platform to foster global investment innovations and sustainability.

Set to convene in Abu Dhabi from May 7-9, the Annual Investment Meeting (AIM) Congress promises to be a crucial gathering for driving the new dynamics of economic resilience and growth.

This year’s congress theme, “Adapting to a shifting Investment Landscape: Harnessing New Potential for Global Economic Development,” aptly captures the current global challenges and the opportunities they present. Under the banner “Resilient Sustainable Economic Growth–Creating a Healthy and Prospective …

• Ventures interested in applying for the Investment Showcase can submit applications here by 2nd May.
• To qualify, the ventures must be African, have at least one African co-founder or be headquartered in Africa.
• They must also offer a product or service designed for scalability, and be able to present in person at the Africa Tech Summit (ATS) London.

On June 7th, 2024, the Africa Tech Summit (ATS) London will convene at the London Stock Exchange for its eighth edition, continuing its tradition of fostering business and investment opportunities in Africa and around the world.

This tech conference, known for its dynamic engagement and insight into the African continent’s tech industry, is poised to attract over 300 African and international tech leaders, policymakers, investors, entrepreneurs, and corporates.

The summit’s key event, the Investments Showcase, is inviting African tech ventures to present their business models to a curated audience of potential investors …

• Exclusive pre-congress workshop launched to elevate startups for the global stage
• This year’s startup competition has attracted entrants from 53 countries.
• With cash prizes amounting $60,000, the stakes are high for participants to showcase their innovations.

As the global business community looks forward to the AIM Congress 2024, an exclusive startup workshop has been announced to prepare tech entrepreneurs for the grand stage.

Scheduled for May 7-9, the AIM Congress is set to be a pivotal gathering for industry leaders, policymakers, investors, and innovative startups under the theme “Adapting to a shifting investment landscape: Harnessing new potential for global economic development.”

In preparation for this landmark event, AIM Startup, in partnership with Bloom, is organizing a preparatory workshop designed to hone the skills and strategies of promising tech entrepreneurs. The workshop, aimed at empowering participants to maximize their impact at the congress, is part of a broader initiative by …

• A total of 77 people, including 22 Chinese and a Cameroonian, all suspects in an elaborate cybercrime ring in Zambia targeting thousands of people across the world, have been arrested in a crackdown. 
• Masquerading as call centre agents, Zambian youth were recruited into conning people via Telegram and WhatsApp platforms.
• Authorities in Zambia say the scam affected people in Singapore, Peru, the UAE, and some African countries.

In Zambia’s posh Roma district, the morning African sun barely peeked through the offices of Golden Top Support Services. This company had promised scores of respectable jobs to young Zambians as call centre agents.

Instead, it had covertly plunged them into the depths of a sprawling cybercrime syndicate. This chilling reality came to light following a decisive raid led by the country’s Drug Enforcement Commission (DEC), exposing a narrative that conjures up the global challenges of cybercrime.

This operation was a huge score …

• 121 African startups secured $466M, marking a 27 per cent drop from the previous quarter; women-led startups got 6.5 per cent of the capital.
• About 87 per cent of startup funding in the three months to March went to entities in Nigeria, Kenya, Egypt, and South Africa.
• Gender imbalance persists as only 6.5 per cent of the financing went to female-led startups in Africa.

The big four economies of Nigeria, South Africa, Kenya, and Egypt continue to attract the highest share of funding going to startups in Africa, even as the ecosystem suffered a 27 per cent drop in financing to $466 million in the three months to March 2024.

The latest analysis from Africa: The Big Deal shows that 87 per cent of startup funding in the three months to March went to upcoming entities in Nigeria, Kenya, Egypt and South Africa.

Attracting $160 million, Nigeria’s economy accounted for …

• AFC’s landmark wind farm in Djibouti set the country on a path to becoming the first African country fully powered by renewable energy.
• Last year, the corporation committed to overhauling Kinshasa’s mass transit system to enhance mobility.
• 2023 saw the AFC welcome three new members—Ethiopia, Burundi, and Sao Tome and Principe.

As the world looks into Africa to launch the next development phase, the Africa Finance Corporation (AFC) is increasingly emerging as a participant and a pacesetter in African infrastructure investments.

Last year marked a watershed moment for the organization, as AFC’s impact was evident in an ambitious slate of projects that span the spectrum of Africa’s developmental needs, from renewable energy sources and transport corridors to mining and climate resilience initiatives.

AFC’s impact on key economic corridors

Last year was a standout moment for AFC, with the corporation not merely navigating but thriving amidst growing global tensions, inflationary pressures, …

• Three decades later, the Rwanda genocide elicits several unanswered questions about the events leading up to, during, and after the killings.
• Who was responsible for shooting down President Juvenal Habyarimana’s plane?
• Nine years after the closure of the ICTR tribunal, high-profile fugitives remain at large, and many survivors continue to seek justice.

It is that time of the year again, April 7, when the world marks a somber remembrance of the Rwanda genocide. This year, as we observe the 30th anniversary of the genocide that ripped through the heart of this small East African country, the world is yet to come to terms with some hard questions.

In just 100 days, from April to July 1994, an estimated 800,000 people were brutally massacred, targeted primarily for being Tutsi or moderate Hutu.

Despite the passage of three decades, the Rwanda genocide remains a subject of intense scrutiny and reflection, not only …

• Ghana-based Zeepay has secured support from Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and I&P.
• The firm is set to ehancing its offerings to International Money Transfer Organizations, senders and recipients of remittances.
• Last year, the company processed 10 million remittance transactions amounting to over $3 billion.

Cash transfer giant Zeepay has successfully closed a substantial equity investment round that is poised to power its business in new territories. Led by Pan-African investment heavyweights including Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and Investisseurs & Partenaires (I&P), this financial infusion is poised to turbocharge Zeepay’s ambitious expansion across Africa and the Caribbean.

Since its establishment in 2014, Zeepay has been at the forefront of revolutionizing payment infrastructures, boasting an impressive presence in over 20 countries globally.

Specialising in the instant settlement of remittances into mobile money wallets, the company has been a beacon of financial …