Author: James Wambua

AfDB and South Korea have signed two agreements worth $28.6 million. The funding will boost growth in Africa. It complements the $600M co-financing deal under the Korea-Africa Energy Investment Framework. AfDB-South Korea partnership focuses on energy, agriculture, and capacity-building in multiple African economies. In a plan to boost Africa’s development agenda, the African Development Bank (AfDB) and the Government of South Korea have inked two agreements, collectively valued at $28.6 million. This financial support aims to catalyse growth and prosperity across Africa, marking a milestone in the collaboration between Africa and South Korea. The funding, a testament to the growing…

4G Capital joins US Ambassador to Kenya Meg Whitman on the US-Kenya Business Roadshow in San Francisco. The Roadshow is an initiative with the US Government’s Prosper Africa programme. Over the past decade, 4G Capital has disbursed loans exceeding $390 million to SMEs in Kenya and Uganda. 4G Capital, a pioneering neobank at the forefront of fostering micro and small business growth in Kenya and Uganda, has been selected as one of the companies to accompany US Ambassador to Kenya, Meg Whitman, on the US-Kenya Business Roadshow. This roadshow, is an initiative with the US Government’s Prosper Africa, is going…

Kenya’s appeal comes at a moment when East Africa has seen only one exit through an IPO in the past decade. 2022 marked the highest level of exit activity in the region in the past decade. Projections show that 2023 is poised to surpass 2022 performance. Private Equity investors typically opt for one of three main methods to exit their investments: selling to industry competitors, conducting secondary buyouts, or engaging in Management Buyouts (MBOs). Kenya is urging private equity firms and venture capital companies to turn to the Nairobi Securities Exchange (NSE) as a platform to realize their deal exits.…

European Commission President Ursula von der Leyen says chaos in Africa’s Sahel leaves the area vulnerable to terrorism. Von der Leyen says the situation in the Sahel directly impacts Europe’s security and prosperity. The Sahel region has experienced eight coups across six nations, from Guinea to Sudan, in the last three years. The European Commission President Ursula von der Leyen has pointed an accusing finger at Russia for orchestrating the roiling chaos gripping Africa’s Sahel region. In her annual speech to the European Parliament in Brussels today, she noted that military coups currently plaguing Africa’s Sahel region have been a…

The eastern Libyan city of Derna has gone into mourning after catastrophic flooding that left about 10,000 people missing. Rescue teams have embarked on recovery efforts for the remains of loved ones as the scale of the disaster unfolds. Media reports say authorities estimate that close to 2,000 people have lost their lives in the Derna area alone.

The Libyan Government of National Unity (GNU) has issued a heartbreaking report stating that the entire road and bridge network in Derna has collapsed. This now calls for an estimated $67 million for reconstruction.

AIM Congress 2024 will run under the theme “Adapting to a Shifting Investment Landscape: Harnessing New Potential for Global Economic Development.” The forum aims to provide an in-depth understanding of shifting investment dynamics and their global impacts. Global leaders, investors, and innovators will convene from 7th to 9th May 2024 at the Abu Dhabi National Exhibition Centre. In a dynamic world marked by shifting investment landscapes, the 13th edition of the world-renowned investment platform, now rebranded as “AIM Congress,” is set to convene global leaders, thinkers, and innovators from 7th to 9th May 2024 at the Abu Dhabi National Exhibition…

The partnership will simplify and elevate the crypto purchasing experience for Nigerians by harnessing the power of local bank transfers. Yellow Card’s collaboration with MoonPay will enhance the accessibility and utility of cryptocurrencies in the region. The integration will empower Nigerians to engage in peer-to-peer crypto transactions with ease. In a move aimed at enhancing cryptocurrency accessibility in Nigeria, Yellow Card, a pioneering African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem. Their partnership is set to simplify and elevate the crypto purchasing experience for Nigerians by harnessing the power of local bank transfers.…

Eritrea has an extensive coastline along the Red Sea but limited freshwater resources. Faced with erratic rainfall patterns that have left much of the country arid, Eritrea is rising to the challenge with determination, innovation, and a strong sense of self-reliance. Within just three years, Eritrea has harnessed its local engineering talent and rallied thousands of its citizens, including students from technical and vocational schools, to construct Msilam Dam.

In a devastating turn of events, Morocco was struck by a rare and powerful earthquake late Friday night. The catastrophe claimed the lives of over 800 people and caused extensive damage across the region. The earthquake, with a magnitude of 6.8, is the strongest to hit Morocco in 120 years.

The impact of the quake reached from remote mountain villages in the Atlas Mountains to the historic city of Marrakech. However, the full extent of the tragedy remains unknown. Consequently, rescuers face treacherous boulder-strewn roads to reach the hardest-hit mountain communities.

Masdar, UAE’s flagship renewable energy firm will work with Africa50 to identify, accelerate and scale clean energy projects across the continent. Ahead of COP28, Masdar will seek to unlock 10GW of clean energy projects for millions of people across Africa by 2030. The deal was struck on the sidelines of Africa Climate Summit held in Nairobi, Kenya. Abu Dhabi Future Energy Company PJSC, known as Masdar, has joined hands with Africa50, the pan-African infrastructure investment platform, to propel the clean energy revolution across Africa, home to 1.3 billion people. This collaboration, solidified by a memorandum of understanding (MoU) signed by…