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- Rwanda-based Bboxx eyes generating $100M worth of carbon credits in Africa
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Investing
- With its multiple technologies, Bboxx is trailblazing in the green energy space, scaling its operations across Africa and projecting to offset over 20 million tonnes of CO2.
- Bboxx has been awarded Gold Standard certification for carbon credit programs based on solar home systems, clean cooking alternatives, and solar-powered water pumps.
- Implementing carbon programs allows Bboxx to accelerate market growth potential by reaching over 4 million customers in five African countries.
Rwanda-based Bboxx plans to offset over 20 million tonnes of carbon and generate $100 million worth of carbon credits through clean energy projects in Africa.
In this initiative, Bboxx projects to positively impact the lives of over four million customers across Rwanda, Kenya, Nigeria, Togo, and the Democratic Republic of Congo (DRC).
These revelations follow Bboxx’s recognition with the Gold Standard certification for its continued rollout of clean energy projects in five African countries. This certification marks a vital moment …
- Kenya’s private equity deals size are expected to remain modest this year.
- However, despite the high optimism, deal sizes in East Africa are expected to remain modest.
- However, businesses are concerned that firms will be scouting for exits, too.
Kenya and its East Africa peers are confident that the fundraising environment for businesses will continue improving in the next 12 months even as the continent experiences mixed expectations.
New findings by Audit firm Deloitte show that while East and West Africans largely anticipate an improvement, opinions in North and Southern Africa are divided, with some expecting improvements, others predicting stagnation, and some foreseeing deterioration.
This outlook comes against the backdrop of persistent high interest rates, inflation, and geopolitical uncertainty, which led to a 9 per cent drop in finalized funds year-on-year in 2023.
The Deloitte Africa Private Equity Confidence Survey 2024, shows that in East Africa, optimism is on …
The opulent and contemporary Downtown Dubai is a global attraction for Vietnamese investors. It is a lively neighbourhood that was built by Emaar Properties and contains some of the most famous structures in the world such as Burj Khalifa and Dubai Mall; therefore, it is an ideal place for investing in property. In this article, we will look at different kinds of real estate in Downtown Dubai which are attractive to Vietnamese buyers.
Overview of Downtown Dubai
Situated between Sheikh Zayed Road and Financial Centre Road, the Downtown Dubai neighbourhood is a mixed-use development located at the centre of the city. This area contains everything; residential, commercial, and leisure spaces for both residents and visitors. The tall skyscrapers, luxury apartments, and top-notch facilities define this as among the best areas to invest in Dubai property-wise.
Types of Properties Available
Apartments
Downtown Dubai provides a broad choice of luxury apartments that …
- Vodafone Group developed a business tailor-made to deal with Africa’s rising digital economy
- Etisalat, Vodafone’s largest shareholder, is currently exploring options for investment in Vodacom Africa.
- A decision to divest assets in a specific market or sell a stake in Vodacom Africa to fund new projects is also on the table
Vodafone Group is mulling strategies of extracting more value from its 65% stake in Vodacom Africa. According to Bloomberg, the telco is working with several advisers to evaluate the various strategic options available including mergers and acquisitions. A decision to divest assets in a specific market or sell a stake in Vodacom Africa to fund new projects is also on the table With the recent decline in Vodacom Africa and its market value in Safaricom, the organization is considering other alternatives.
This new take is crucial given that Vodafone has acquired new interested investors. Liberty Global, Xavier Niel,…
- KCB says it will open twelve 12 new branches in Kenya and Tanzania, to bring its total number of branches to more than 500
- KCB Group Managing Director Paul Russo told Business Daily that the increase in its branches would assist them to reach more customers
- The new branches are expected to complement KCB Group’s regional footprint with an asset base of KSh 1.5 Trillion (US$12.6 billion)
Regional lender Kenya Commercial Bank (KCB) says it will open twelve 12 new branches in Kenya and Tanzania, to bring its total number of branches to more than 500.
KCB Group Managing Director Paul Russo told Business Daily that the increase in its branches would assist them to reach more customers.
Russo said they had already received approvals to open 6 of the twelve branches. The 6 are located in Kenya.
KCB’s plan of opening new branches is part of the Group’s strategic …
- African Hidden Champions (AHC) is an initiative that seeks to showcase exceptional growth stories of unique African startups.
- The AHC initiative has led to several breakthroughs for various African startups.
- AfDB and AHC partnership is a stepping stone that would provide financial inclusion and regional industrialization.
AfDB has announced a new partnership with the African Hidden Champions to promote and empower local startups.
African Hidden Champions (AHC) is an initiative that seeks to showcase exceptional growth stories of unique African startups. Essentially AHC seeks potentially revolutionary companies that are building Africa’s startups to scale on a global scale.
Africa Foresight Group and German Investment Cooperation co-founded this initiative to shed light on Africa’s potential as a continent. They created AHC for the primary purpose of helping firms on their growth journey by telling their stories, exposing them to new markets and providing funding and technical assistance if need be.
Dr …
- Hela Kenya has received US$14 million from Norfund to strengthen the development of its manufacturing operations in East Africa
- The proceeds from Norfund’s investment will be utilised to strengthen Hela’s strategic supply chain partnerships in East Africa
- It will also enable Hela to leverage regional sourcing from Kenya and Tanzania to a larger extent, providing significant cost and lead time advantages for manufacturing in the region
Kenyan-based apparel company Hela Apparel Holdings PLC has received US$14 million (KSh 1.7 billion) from Norfund to strengthen the development of its manufacturing operations in East Africa.
Norfund, the Norwegian government’s investment fund, announced on Monday, February 27, 2023, that it had invested the amount in Hela Kenya. The company employs over 4,000 people and is the largest manufacturing facility within the Sri Lankan company Hela Group.
The proceeds from Norfund’s investment will be utilized to strengthen Hela’s strategic supply chain partnerships in East …
- East African Portland Cement (EAPC) has made $8 million in the six months December 31, 2022 a 11 percent drop in losses.
- The firm attributed the loss to increased competition, depreciation of the Kenyan shilling against the US Dollar and increased energy costs which countered gains from plant efficiencies and cost containment measures.
- The firm however registered a $5 million increase in revenues do to improvement in cement production owing to the completion of the first phase of the plant refurbishment completed in September, 2022.
East African Portland Cement (EAPC) has made $8 million loss in the six months December 31, 2022 a 11 percent drop in losses compared to $9 million loss recorded in the same period in 2021.
The firm attributed the loss to increased competition, depreciation of the Kenyan shilling against the US Dollar and increased energy costs which countered gains from plant efficiencies and cost containment …
