Author: James Wambua

• Pepea’s investment will provide Kenya-based Gaea Foods with the working capital necessary to meet growing demand from both new and existing customers.
• This, in turn, will enable the company to source from a larger number of smallholder farmers, further strengthening the local agricultural economy.
• Launched in 2023, Pepea Fund was created to provide funding for early-stage companies.

Gaea Foods, a Nairobi-based potato processing company, has become the first-ever investment of Pepea, an impact fund from Oxfam Novib managed by Goodwell Investments, marking a historic milestone for the fund

This move not only highlights the potential of Gaea Foods in the B2B market but also underscores Pepea’s focus in fostering sustainable and inclusive growth in East Africa. Gaea Foods is a pioneering female-led business focused on Kenya’s potato value chain. By providing venture debt to Gaea Foods, Pepea aims to empower smallholder farmers, enhance local value chains, and promote gender …

• A key aspect of the ShafDB and CPF Group alliance is the setup of a Housing Solutions Fund for Kenya.
• By co-financing projects and providing capital raising and technical support, this Fund aims to catalyze the development of affordable housing across Kenya.
• The ShafDB and CPF Group alliance exemplifies the potential of Public Private Partnerships to drive meaningful change in the housing sector.

Kenya’s housing crisis has long been a pressing issue, with millions of citizens lacking access to decent and affordable housing. However, a new development seeks to address this challenge, following a partnership between two key players in the housing sector—Shelter Afrique Development Bank (ShafDB) and CPF Group.

This collaboration, sealed through a Memorandum of Understanding (MOU), aims to scale up the development of large-scale affordable housing projects across the country.

A strategic partnership for affordable housing

The agreement between ShafDB and CPF …

• Suspected mpox cases across the continent have surged past 17,000—a sharp increase from 7,146 cases in 2022 and 14,957 cases in 2023.
• The disease has rapidly spread from the epicentre, DRC to at least 13 African countries, including nations previously unaffected such as Burundi, Kenya, Rwanda, and Uganda.
• Already, Africa CDC has entered into an alliance to provide over 215,000 doses of the MVA-BN® vaccine—the only Mpox vaccine approved by the FDA and EMA.

The Africa Centres for Disease Control and Prevention (Africa CDC) has declared the ongoing Mpox outbreak as a Public Health Emergency of Continental Security (PHECS).

This declaration is the first of its kind since the agency’s establishment in 2017, marking a critical moment in Africa’s public health scene even as authorities step up measures to tackle an outbreak of this deadly disease.

Under the authority granted by Article 3, Paragraph F of the Africa CDC Statutes, …

• New report identifies 24 leading Africa-focused supply chain innovators who are at the forefront of this transformation.
• These innovators have partnered with over 100 manufacturers and 75 public health institutions, reaching more than 50,000 providers and directly delivering health products to approximately nine million consumers.
• Collectively, these supply chain leaders have generated nearly $200 million in annual revenues.

A new wave of innovation is powering health product access in Africa, reshaping how medical products are accessed across the continent. Despite the formidable challenges posed by economic pressures and declining investments in technology, a select group of innovators is rising to the occasion, delivering solutions that promise to make healthcare more accessible, affordable, and reliable for millions of Africans.

A recent market intelligence report by Salient Advisory, funded by the Gates Foundation, sheds light on these trailblazers, highlighting the innovative approaches they are taking to pioneer health product access in …

• Though encouraging that the number of female CEOs has risen from 230 (9.6%) in 2023 to 310 (11.1%) in 2024, these numbers show a tech segment that is still heavily dominated by men.
• Interestingly, smaller ecosystems such as Zambia, Rwanda, and Senegal are outperforming traditional hotspots like South Africa, Nigeria, Egypt, and Kenya in terms of female leadership.
• Between January 2022 and June 2024, startups with female co-founders raised $747M, representing just 11.9% of the total, while those led by female CEOs secured only $289M.

The African tech ecosystem, renowned for its dynamic growth and innovative potential, is transforming. Yet, a pressing issue remains, gender diversity within leadership roles. This year’s “Diversity Dividend: Exploring Gender Equality in the African Tech Ecosystem” survey by Disrupt Africa highlights the gender disparities that continue to plague this burgeoning industry.

Despite recent improvements, the representation of women in leadership positions within African …

• In July, South Africa’s private sector posted the quickest fall in output and new orders since March
• Official statistics show that the country’s inflation was at a near four-year low.
• Business confidence was however at the highest levels since February 2022.

As South Africa stepped into the second half of 2024, the country’s economy continued to face challenges, with the private sector contracting for the second month in a row.

The latest Purchasing Managers’ Index (PMI) report from S&P Global paints a complex picture—while the contraction deepened in July, there are also signs of optimism that could signal a brighter future.

A deepening contraction in South Africa’s private sector

The S&P Global South Africa PMI for July registered at 49.3, a slight decline from June’s 49.2. While the change may seem minor, it is significant as it marks the second month in a row that the PMI has remained below …

• Kenya protests led to a steep decline in business activity in July.
• Kenya’s private sector reported backlogs of work build-up and lengthened supplier lead times.
• In the month under focus, however, rates of inflation remain muted.

July 2024 has proven to be a turbulent month for Kenya’s economy, as widespread protests wreaked havoc on the nation’s private sector. The resulting decline in business activity and output has raised concerns about the long-term implications of political instability on Kenya’s economic health.

According to the Stanbic Bank Purchasing Managers’ Index (PMI) survey Kenya protests, which started in June with calls for the rejection of Finance Bill 2024, have triggered a significant downturn in business conditions, posing grim implications for various sectors, and the broader economy.

The PMI Plunge: A stark indicator of economic strain

The Stanbic Bank PMI report for July 2024 offers a sobering snapshot of the state of Kenya’s private …

• Jersey has just been recognized as a global center for responsible finance, demonstrating its commitment to combating money laundering and terrorist financing.
• The island’s achievement has far-reaching implications for the global financial system, including for economies in Africa struggling with money laundering.
• African countries can take lessons on how to establish robust legal and regulatory frameworks for AML from Jersey to help plug vulnerabilities in their financial systems.

The scourge of money laundering continues to be a serious pain point for authorities across Africa, with many countries struggling to fight illicit flows albeit with persistent risks.

Currently, South Africa, the continent’s most advanced economy is under close watch according to the Financial Action Task Force (FATF) to institute tough measures to check money laundering avenues by October 2024.

In West Africa, persistent challenges of human trafficking, poaching, and wildlife trafficking, and runaway corruption continue to weaken the financial system of …

•  Until now, the top five agricultural exports from Africa to US stores are coffee, cocoa, fruits and vegetables as well as seafood.
• AmCham tips savvy traders in Africa to explore exporting new and unique products such as ancient grains, Specialty Meats, superfoods and natural oils.
• These products not only cater to the growing consumer demand for new and diverse products but also supports sustainable and ethical sourcing practices.

As the contours of global trade continue to take shape, Africa, a continent bursting at the seams with unique resources is increasingly taking center stage. Africa’s array of unique products—if harnessed optimally—can significantly boost Africa-US trade which stood at $83.6 billion in 2021.

Currently, Africa’s agricultural exports to the US are still relatively small, largely because of the narrow stream of farm produce that gets exported. In 2021, the value of agricultural exports from Africa to the US market was estimated at …

• Startups in Africa have attracted over $1.2 billion in financing this year.
• Experts note that debt financing for startups in Africa is increasingly taking centre stage.
• In July, startups d.light, Va1U, Terrapay as well as Cartona all settled on debt financing to boost operations.

Startups in Africa have defied the odds in declining global capital flow, attracting a record $420 million in financing in July. This funding, which excludes exits, takes to $1.2 billion the amount of money channeled to startups in Africa this year and is the highest on record in 14 months.

“The numbers were heavily skewed by the two mega deals that were announced during the month: d.light’s $176 million securitisation facility and MNT-Halan’s $157.5 million raise. NALA’s $40 million Series A also deserves a mention. Combined, these three deals represent 90 percent of the funding raised,” an update by startup funding tracker, Africa: The Big Deal…