Author: James Wambua

Africa’s startup funding ecosystem experienced a decline in 2024, with total investments dropping by 25% to $2.2 billion amidst a global economic slowdown. However, a strong rebound in the second half, driven by two unicorn deals, highlighted the sector’s resilience and potential. Regional leaders Kenya, Nigeria, and Egypt continued to dominate, signaling sustained investor interest despite the challenges. Africa’s startup funding ecosystem experienced a notable decline in 2024, reflecting the broader global funding drought that defined the year. Startups on the continent collectively raised $2.2 billion in equity, debt, and grants (excluding exits), a substantial amount but a sharp 25…

In line with the increase in economic activity usually associated with festive season, Nigeria private sector PMI hit 52.7 in Dec from 49.6 in Nov, its biggest improvement since January 2024. While some firms increased employment in response to the higher new orders, others cut staff go due to difficulties paying wages. Purchase prices were up amid currency weakness and higher costs for fuel and transportation. Nigeria private sector activity showed signs of improvement during the final month of 2024 attributable to trade associated with festive season spending, the latest Stanbic IBTC Bank Purchasing Managers’ Index (PMI) for December shows.…

Africa bore the brunt of a global hunger crisis in 2024, with conflict and climate change driving millions of children into acute malnutrition and food insecurity. Urgent action is needed to address systemic issues like war and conflict, climate adaptation, and inequality, as hunger continues to rob children of their futures in 2025. With coordinated efforts, sustainable solutions can break the cycle and restore hope for vulnerable communities. As Africa welcomes 2025, a new analysis by Save the Children shows that hunger crisis continued its relentless grip on the continent, with at least 18.2 million children worldwide born into hunger—a…

AIM Investment Awards highlight the transformative impact of FDI. They also recognize the critical role of Investment Promotion Agencies (IPAs) play in driving economic growth, fostering international cooperation, and advancing innovation. The competition spans multiple categories, ensuring that outstanding achievements are celebrated across different regions of the world. AIM Investment Awards 2025, a flagship initiative of AIM Congress, will open for nominations on 7 January 2025. Since its inception in 2013, these prestigious awards have become a global benchmark for excellence, celebrating the outstanding efforts of Investment Promotion Agencies (IPAs) in attracting transformative Foreign Direct Investment (FDI) projects. The awards…

Development of the Misurata Free Zone, road to Chad and Niger, and support for the Sahel-Saharan Bank for Investment and Trade are some of the key projects targeted in new era of cooperation. The partnership is poised to facilitate the development of vital infrastructure, bolster trade, and support Libya’s efforts in economic diversification and reconstruction. With a GDP of $50.49Bn in 2023, Libya is ranked as Africa’s 12th largest economy. However, less than 10% of its trade occurs with other African nations. Libya has formally acceded to the Afreximbank Establishment Agreement, becoming the 53rd member nation of the pan-African financial…

Research by the Economic Commission for Africa (ECA) shows that demand for critical minerals will drive the quest to decarbonize economies and to reach net-zero emissions by 2050. Africa could be the go to industrialization destination by adding value to the critical minerals on the continent. Africa’s commitment to trade-led economic integration should be leveraged to support the development of minerals-based regional and continental value chains and economic diversification. Africa—rich in critical minerals—will accelerate intra-continental trade and harness its natural resources for sustainable development by rolling out effective trade policies, to benefit from the global rush for green energy transition.…

Winners from Africa in the AIM Congress 2025 Regional Pitch Competition will  showcase their businesses to a panel of investors, industry leaders, and global decision-makers in April next year. The regional competitions seek tech startups in the Seed and Series A stages that have a great potential to scale. AIM Congress will be promoting a total of $200,000 in investments across the event, reinforcing its dedication to fostering global entrepreneurship. Startup owners running brightest and most innovative technology enterprises from Africa have a chance to join a regional pitch competition that would see them win vital investment and the support…

Initiative targets 7,500 artisanal gold miners and will be spread in over five years at a cost of $24 million. In Zimbabwe, about 96% of artisanal gold mine sites use mercury, with miners working without protective gear. Mercury used in gold extraction goes a long way in polluting air, water and soil, thereby worsening food chains. Thousands of workers in artisanal gold mines in Zimbabwe are set to benefit from a $23.7 million initiative that seeks to significantly reduce the use of toxic mercury element in the mineral’s extraction across the country. The government-backed project aims to align the country…

Drought-hit Zambia will get immediate access to about $184 million from the IMF. Lender says authorities in the southern African country remain committed to maintaining macroeconomic stability and restoring fiscal and debt sustainability. Worsening impact of drought is, however, set to see Zambia’s economy decline to 1.2% growth this year. Zambia has secured about $184 million from the International Monetary Fund (IMF) to provide budget support to the southern African country that is reeling from adverse effects of drought, which now threatens to see the economy grow by marginal 1.2 per cent this year. The funding brings Zambia’s total disbursement…

The alliance aims to act as a pipeline for businesses in Europe and Africa to leverage investment opportunities across the two regions. Deal modelled to capitalize on Africa’s untapped potential and Europe’s advanced entrepreneurial and tech ability to drive investments. The two parties have identified demography, decarbonization, digitization, and derisking as reasons for Europe’s growing interest in Africa. Financial services giant ODDO BHF from Germany has taken a step forward in fostering cross-continental economic collaboration by signing a memorandum of understanding (MOU) with regional lender Equity Group. This alliance, which was formalized during the German-Africa Business Summit in Nairobi, aims…