Author: James Wambua

They will also receive comprehensive mentorship and coaching as part of a 12-month accelerator program. This year’s focus was on female-owned enterprises pioneering Fourth Industrial Revolution (4IR) technologies such as artificial intelligence, big data analytics, virtual reality, robotics, IoT among others. The winning ventures, led by women from across Africa, focus on sectors affected by climate change. African enterprises have triumphed in the 2023 YouthAdapt challenge, with eight dynamic women-led businesses securing victory. Each of these enterprises is set to receive grant funding of up to $100,000. They will also receive a comprehensive mentorship and coaching as part of a…

The landmark initial pledge will help to rapidly scale up financing for transformative climate-aligned infrastructure projects across the continent. The new pledges will also advance AGIA towards its first close of $500 million of early-stage project preparation and development blended capital. AGIA was launched a year ago at COP27 in Sharm El Sheikh, Egypt, by the African Union Commission, the African Development Bank, Africa50, and other partners. In a powerful signal of support during COP28, African and global institutions, together with governments of Germany, France, and Japan and philanthropies, have pledged over $175 million to the Alliance for Green Infrastructure…

Masdar, UAE’s renewable energy company, signs agreement with Angola’s Ministry of Energy and Water at COP28 to develop solar plant in southern Angola. Project will create up to 600 jobs and deliver clean energy to 90,000 homes in region with significant electricity supply challenges. The agreement signed at COP28 demonstrates Masdar’s commitment to just energy transition in Africa and around the world. Masdar, one of the world’s leading renewable energy companies, has announced plans to develop a major 150 megawatt (MW) solar PV project in Angola to deliver renewable energy to 90,000 homes while creating hundreds of jobs, spurring economic…

About 130 countries participated in IATF2023, which attracted 1,939 exhibitors and 28,282 participants who attended physically and through the IATF virtual platform. The sheer scale of IATF2023 reflects a shared commitment to fostering economic integration and development on the continent. The next edition of the IATF will be hosted in 2025 by Algeria. The African Export-Import Bank (Afreximbank) has announced that the third Intra-African Trade Fair (IATF2023) held in Cairo from 9 to 15 November witnessed the conclusion of business deals and transactions valued at US$43.8 billion. IATF2023 brought together representatives from 130 countries, fostering collaboration and partnership in diverse…

Designed using a science-based approach and harnessing new technological innovations, the programme aims to promote long-term tree health, increase biodiversity of flora and fauna, and generate an economic boost for local communities. The reforestation project in Kenya will cover more than 3,500 hectares across six counties in the west of the country, adjacent to the Rift Valley. Aside from Kenya, AZ Forest’s global program, which aims to span 100,000 hectares worldwide targets Ghana and Rwanda. AstraZeneca is committed to planting and maintaining up to six million trees in Kenya, employing an Artificial Intelligence (AI) deep learning model to monitor tree…

Engineers from Botswana, Côte d’Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, and Uganda have made it to the Africa Prize shortlist. The innovations for 2023 span a range of novel ideas, including fabrics crafted from fungi cultivated on human waste, technological advancements in chicken farming, recycled plastic roof tiles, and an app-driven waste management service. These inventive projects contribute to the extensive network of Africa Prize innovators, which now boasts 133 alumni spread across 21 African countries, all dedicated to catalyzing transformative change through locally-driven solutions. The culmination of the competition will see four finalists competing for a portion of £60,000,…

AFDB has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The bank cites the effects of COVID-19, geopolitical conflicts, climate shocks, a global economic slowdown, and limited fiscal space as constraints to Africa’s recovery. AfDB is calling on governments to scale up investment in human capital and infrastructure to boost productivity, and regain momentum in economic growth. Global shocks have prompted the African Development Bank (AfDB) to revise its short to medium-term macroeconomic projections for Africa in 2023 and 2024, reducing the forecast to 3.4 per…

The advent of BRICS Pay could further strengthen these ties, offering African nations an alternative to the dollar-dominated trade and financial systems. BRICS Pay is a bold step towards a more multipolar world economic order. Its impact on US-Africa trade will depend on various factors, including its adoption by businesses and financial institutions across the coalition of nations. The launch of BRICS Pay, a digital payment platform developed by the BRICS nations (Brazil, Russia, India, China, and South Africa), marks a pivotal moment in international trade dynamics. This innovative system promises to streamline transactions among these emerging economies, potentially challenging…

Financial professionals must be fit to lead Africa’s inclusive sustainable growth and economic recovery, ensuring the continent’s place in the global arena. This call by the Association of Chartered Certified Accountants (ACCA) comes as the global economic landscape undergoes dynamic shifts. The ACCA emphasizes the importance of accountants being well-equipped to lead this charge and secure Africa’s standing in the international arena.
Their advocacy underscores the integral role that financial professionals play not only in shaping the economic landscape of individual nations but also in fostering a collective, continent-wide approach to sustainable development.

A groundbreaking initiative, the SEMA ReACT (SEvere MAlaria treatment with Rectal artesunate and Artemisinin-based Combination Therapy [in remote settings]) consortium, marks a fresh collaboration between Africa and Europe. This study addresses the knowledge gap surrounding an intervention designed to provide a critical time buffer for seeking additional care in remote settings where transferring to health facilities is difficult.