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- Africa poised for fastest growth in $8 trillion cooling systems market
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Africa
- The market for sustainable cooling systems in developing economies is set to hit $600 billion by 2050. Research shows that sustainable cooling systems can cut cooling-related emissions by almost 50%.
- They can also help lower electricity bills, reduce equipment costs, and power sector investments by $8 trillion by 2050.
- Unlocking finance, in particular private finance, is essential to support the transition to sustainable cooling across developing economies.
Economies in Africa are projected to experience the fastest growth in cooling systems, a new survey by the International Finance Corporation and the UN Environment Programme (UNEP)-led Cool Coalition shows.
Globally, Africa is poised to see her cooling systems industry expand by a factor of seven closely followed by countries in South Asia which will see this market segment quadruple.
“The sustainable cooling market represents at least a 600-billion-dollar opportunity for the private sector, …
- Innovation is the route to business, company, industry and national success story.
- To realize this success, however, governments must create policies that encourage and support innovation at scale.
- For Africa, the jury is still out on the role of governments in driving innovation.
From the developed to emerging to the underdeveloped economies, one thing that policymakers agree is that innovation drives industrial and therefore national progress. It creates opportunity for individuals and investors, grows businesses, and powers a nation’s development agenda. For these reasons, policymakers are advised to place emphasis on innovation.
Matt Banholzer, an economics researcher and author of How innovation can accelerate industry momentum report explains that while macroeconomics concept of development correctly looks at the economy as a whole, policymakers must not be naïve to think policies of the ‘whole’ will foster development of the individual and vice vasa.
The researcher is of the view that policymakers, …
- Kiva will oversee the disbursement of the low-interest loans to help SMEs
- Last week Google announced a plan to invest $1billion over 5 years to support Africa’s digital transformation
Google Kenya has announced a disbursement of $10 million to support the economic recovery of small and medium enterprises across Kenya, South Africa, Ghana, and Nigeria during their virtual Google Kenya event.
A non-profit organisation, Kiva, will oversee the disbursement of the low-interest loans to help the SMEs get through the economic hardship created by COVID-19.
This follows the announcement made at the Google for Africa event last week where CEO of Google and Alphabet, Sundar Pichai, announced the plan to invest $1billion over 5 years to support Africa’s digital transformation.
The investment is expected to focus on enabling fast, affordable internet access for more Africans; building helpful products; supporting entrepreneurship and small business; and helping non-profits to improve lives across …
- The centre was built through a partnership between the locally-owned GE Healthcare’s entity and Kenyatta University Teaching, Referral & Research Hospital (KUTRRH)
- In Kenya, cancer is the third leading cause of death, after infectious and cardiovascular diseases
In a major milestone for the fight against cancer in Kenya, the President of the Republic of Kenya, Uhuru Kenyatta, has inaugurated the first publicly-owned comprehensive Integrated Molecular Imaging Centre for the diagnosis and treatment of Cancer in Sub Saharan Africa.
The centre was built through a partnership between the locally-owned GE Healthcare’s entity and Kenyatta University Teaching, Referral & Research Hospital (KUTRRH). The Center will provide lifesaving equipment along the cancer care pathway – from screening and diagnosis to staging, to determining the correct treatments.
This will support the improvement of cancer survival rates and serve patients across Kenya. Critically, it will also enable more cancer research to be carried out, offering …
At the same time, KEPSA said the initiative will provide a unique platform to facilitate U.S. and Kenyan SME partnerships.
It will also help in supporting women and youth to run Kenyan entrepreneurs as well as U.S. women, minority, and diaspora owned businesses, and help SMEs in both countries address the current challenges many faces to access the two markets.
The agreement was signed by CCA President & CEO Florizelle Liser and KEPSA CEO Carole Kariuki and witnessed by President Uhuru Kenyatta in New York, U.S.A.…
- Morocco’s car sales exceeded 160,000 units in 2021 and creating over 220,000 direct jobs
- The auto industry is also set to contribute as much as 24% to the Moroccan GDP by 2022
- Despite the consequences of the COVID-19 crisis, the industry has gradually recovered this year, selling around 400,000 cars to Europe
Morocco has surpassed South Africa as the biggest exporter of passenger cars on the continent with $7 billion (MAD 65.1 billion) exports made in the car industry at the end of 2018.
New data indicates that the country’s automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000 direct jobs.
According to several international experts, Morocco’s auto industry is set to contribute as much as 24% to the Moroccan GDP by 2022.
As of 2021, new passenger vehicles (PCs) recorded an increase of +10.77% with 115,611 units sold, transforming …
- The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
- The Lesotho Highland Development Authority will implement the part of the project that falls within Lesotho’s borders.
The board of directors of the African Development Bank Group has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project.
In a statement, AfDB said the multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries.
The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the Polihali Dam and reservoir, a 38 kilometer-long water transfer …
- The African private equity (PE) industry, continues to prove itself and is once again on a growth trajectory
- Even though growth forecasts remained muted at the beginning of 2021, this was due to several African countries understandably grappling with persistent outbreaks of COVID-19
- North Africa and West Africa jointly attracted the largest share of PE deals by volume
Private equity fundraising in Africa managed to reach US$1.3bn in the first half of 2021 when including final and interim closes, a new report has revealed.
The 2021 H1 African Private Equity Data Tracker released by the African Private Equity and Venture Capital Association (AVCA) indicates that this is despite widespread decline felt by most economies across the globe, owing to the impact of the coronavirus pandemic.
The report noted that the African private equity (PE) industry, continues to prove itself and is once again on a growth trajectory, mirroring the gradual …
