- Africa to benefit as global investors increase ESG investments in 2024
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- Zambia reduces interest rates on student loans by 5 per cent
- Twiga Foods raises undisclosed funding despite massive layoffs
- No more excuses: Commonwealth to call for accelerated action on climate crisis at COP28
- London’s Verto and UBA spearhead cross-border payments in East Africa
- Mozambique’s $80 Billion Green Energy Gamble: A Strategic Shift with Global Implications
- Financial professionals must lead Africa’s switch to sustainable growth
- An estimated 56 percent of global investors are preparing to increase their ESG investments in 2024 amidst escalating climate change challenges.
- This trend is occurring even as awareness among investors about ESG significantly increased in recent years.
- Currently, over 70,000 political and business leaders, diplomats, financiers, and activists are converging on Dubai to discuss ways to avoid environmental disaster due to climate change at COP28.
A new study from deVere Group, an independent financial advisory, asset management, and fintech organization, reveals that more than half of global investors plan to increase their Environmental, Social, and Corporate Governance (ESG)-oriented investments in 2024.
The study, which polled over 800 investors, shows that 56 per cent of global investors are gearing up to increase their ESG investments in 2024 amidst escalating climate change challenges.
These findings come as more than 70,000 political and business leaders, diplomats, financiers, and activists converge on Dubai …
- Under President Samia Suluhu Hassan, Tanzania has seen significant economic transformation, culminating in attracting over $1 billion in foreign direct investment.
- Tanzania’s consistent economic policies have played a key role in this achievement, fostering an environment conducive to growth and investment.
- However, this impressive FDI growth is juxtaposed against a decrease in the value of invested projects and Domestic Investment.
Under the astute leadership of President Samia Suluhu Hassan, Tanzania has witnessed a significant economic transformation, culminating in attracting over $1 billion in foreign direct investment. This remarkable achievement is the result of a series of strategic policies and reforms that have shaped Tanzania’s economic trajectory.
Tanzania’s journey from a command economy to a market economy has been pivotal in shaping its current economic structure. Since 1985, the country has embraced market-oriented policies, opening up its economy to global trade and investment.
Agriculture plays a critical role in …
- East African gas has around one-third of the global average carbon content and is extremely low in liquids.
- Unni Fijaer, Vice President and Tanzania country manager for Equinor adds that the gas is ideal for meeting the world’s energy needs while minimising emissions.
- Lower carbon levels make East African Coast gas reserves more attractive to investors.
The vast gas reserves off the East Coast of Africa have significantly lower carbon content than the global average. This unique characteristic renders them more attractive to international investors and export markets amid the ongoing energy transition.
A recent panel discussion at the AOW Investing in African Energy event in Cape Town, South Africa, revealed this valuable insight. This underscores the pivotal role of African gas in the evolving global energy landscape.
East African gas reserves cleanest
“The beauty of gas derived from the East Coast of Africa is that it is extremely low …
- Across Africa, Public-private partnerships (PPP) experience varies across countries due to GDP differences, capital market size and depth.
- The UN Economic Commission for Africa ECA has been working with African countries to enhance their PPPs for infrastructure development.
- ECA has been undertaking capacity building and helping economies in Africa to mobilize resources for infrastructure development.
Public-private partnerships (PPPs) are crucial to closing the financing gap for infrastructure development in Africa, and governments and the private sector should work together to create effective PPPs, said Dr Robert Lisinge, Acting Director of the Private Sector Development and Finance Division at the UN Economic Commission for Africa (ECA).
He was speaking last week at a plenary session of the African Economic Conference 2023 on Public-Private Partnerships to catalyse infrastructure development and innovative financing for industrialization in Africa.
“Financing Africa’s infrastructure is still a big challenge faced by many countries on the continent. To …
- The “Master Gas” CNG filling station, the first of 12 planned stations, has a capacity of 11,000Kg of CNG, serving well over 800 vehicles daily.
- Vehicles powered by CNG emit about 25% less CO2, contributing to Tanzania’s consumption of clean, environmentally friendly energy.
- The filling station is a joint investment by TAQA Arabia and JCG Oil & Gas.
Tanzania has marked a significant milestone with the inauguration of its inaugural Compressed Natural Gas (CNG) filling station in the port city of Dar es Salaam. The commissioning ceremony, overseen by Dr. Doto Mashaka Biteko, Deputy Prime Minister and Minister of Energy of Tanzania, celebrated the joint investment by TAQA Dalbit, a tie up between TAQA Arabia and JCG Oil & Gas.
“We are on the cusp of a transformative shift in Tanzania’s energy landscape. With the dedication and foresight of industry leaders like TAQA Dalbit, we are ushering in an era …
- An Egyptian company’s plan to build an industrial city in Kibaha by El Sewedy Industrial Development is a prime example of the growing complementarity between resources in the Middle East and those in Africa.
- Investing $400 million to create over 50,000 employees is more than a commercial move. This strategic move demonstrates Egypt’s growing clout in East Africa.
- As a result of growing interest in investing in African countries from the Middle East, the dynamic between these two regions is likely to reshape long-established economic alliances and partnerships.
Egyptian company Elsewedy’s remarkable investment in Tanzania
An Egyptian company’s plan to build an industrial city in Kibaha by El Sewedy Industrial Development is a prime example of the growing complementarity between resources in the Middle East and those in Africa. Consequently, completing a historic project in Tanzania represents a watershed moment in Africa’s economic progress.
Investing $400 million to create over …
- Afreximbank has announced plans to establish a $1 billion Africa Film Fund in 2024.
- Africa Film Fund will oversee financing of African filmmakers, producers, and directors of creative projects across the continent.
- Despite its potential to employ over 20 million people, Africa’s film industry is facing several challenges. These include limited access to financing and copyright infringement due to weak copyright laws.
The African Export-Import Bank (Afreximbank) has announced plans to establish a $1 billion Africa Film Fund to be launched in 2024. Addressing the opening of the 2023 CANEX Summit held as part of the third Intra-African Trade Fair (IATF2023), Kanayo Awani, Executive Vice President at Afreximbank, said that the fund will oversee film financing, co-finance with large studios, finance African filmmakers, and finance producers and directors of film projects across the continent.
Awani revealed that so far, the Bank has a pipeline of over $600 million …
- The ACG financing will support sustainability in Africa initiatives such as energy security and transition.
- It will also support regional integration and connectivity, trade finance and facilitation, gender and youth initiatives.
- ACG has been a long-standing supporter of African countries and has invested over $220 billion in the region.
Stepping up their support for African partner countries ahead of the COP28 climate change conference, the Arab Coordination Group (ACG) has announced it will allocate up to $50 billion to help build resilient infrastructure and inclusive societies in Africa.
COP28, held from 30 November to 12 December 2023 in Dubai, signifies a crucial moment in the global endeavor to tackle climate change. Notably, it will witness the completion of the initial worldwide assessment of the Paris Agreement, providing the international community a pivotal chance to adjust course and enhance collective commitment to restrict warming to 1.5°C.
The announcement of $50 …