- Tanzania at COP28
- AfDB partners with Prince’s Trust International to address youth unemployment in Africa
- AstraZeneca pioneers AI solutions for reforestation in Africa
- TotalEnergies divests 36% stake in South Africa’s National Petroleum Refiners
- Lipa Later’s $1.6M boost revives Sky.Garden’s East African market presence
- COP28: unmasking greenwashing in Africa and the challenge for sustainable development
- COP28: Early win with $260 million for climate damages
- Africa’s tech experts to convene for the 8th Edition of Digital and Technology Week
- Kenya’s SBM Bank has announced its commitment towards increasing its ESG investment in the country.
- The commitment is aimed at providing sustainable financing for projects that will allow access to clean, reliable, and affordable energy.
- The move follows a partnership between the Bank and Safer Power in renewable energy in Lukenya that will connect Stoni Athi Resort to off-grid solar power.
ESG investments in East Africa’s most advanced economy are expected to increase as SBM Bank deepens its commitment in Kenya’s sustainability drive. The commitment to prioritise financing projects aligning with Environmental, Social and Governance (ESG) is aimed at providing sustainable investments that optimise in the use of clean, reliable, and affordable energy.
The announcement follows the partnership between the Bank and Safer Power in renewable energy in Lukenya that plans to connect Stoni Athi Resort to off-grid solar power.
“Our focus through this collaboration is to empower businesses within …
- 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 …
- 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 …
The Lobito Corridor represents a significant transport infrastructure project in Africa. The project will now become a reality with the backing of the US. Moreover, this is one of the projects through which Washington seeks to strengthen its investment ties on the continent. This project entails a transportation network that links northwest Zambia to Angola’s Benguela railway, ultimately connecting to the strategic Lobito port, the second largest seaport in oil-rich Angola.…
- Globally, the hydrogen market exceeds $130 billion, and the World Bank is projecting an annual growth rate of over 9 per cent.
- The rising global demand for clean energy is opening doors for African nations to establish themselves as green hydrogen exporters.
- Across Africa, green hydrogen initiatives are taking root in Egypt, Niger, Morocco, South Africa, Namibia, and Mauritania.
Green hydrogen, derived from a clean process of electrolysation, can potentially transform the energy landscape in developing nations. Unlike traditional hydrogen production methods, which rely on fossil fuels, green hydrogen is produced using renewable energy sources like solar and wind power.
This innovation opens up new possibilities for decarbonisation and sustainable energy solutions. South Africa, Morocco, Mauritania, Namibia, Niger and Egypt are trailblazing the way for African economies, albeit with financing challenges. Recently, Kenya outlined its broad plan to tap into this industry, too.
Globally, the hydrogen market exceeds $130 billion, …
The vast renewable energy potential across the African continent, combined with Europe’s ambitious production and import targets, is reshaping energy pathways and challenging established norms. Moreover, Africa and Europe have taken the reins in driving the global green hydrogen economy, marking a landmark shift in energy dynamics. …