• In developing countries, fintechs are particularly responsible for social impact as there are often wider gaps to fill.
• Fintechs have the power to do good, but for a company to label itself ‘for good,’ this must be a key business priority.
• However, when it comes to dealing with investors and board members, fintech leaders must balance their social impact ambitions with profitability, useability and affordability.

Positive social impact is often only associated with governments or NGOs, organisations which are doing good without the motivation of profit or brand. However, fintechs are oftentimes uniquely positioned to solve social issues through providing access to services, improved user experience and education.

Using various fintech products, consumers can gain a better understanding of their financial situation. Products like savings pots, investment platforms and as well access to loans can all lead to financial freedom for those without it.

In developing countries, fintechs are particularly …

• North Africa already has the requisite abundant natural resources and developing infrastructure to support a massive expansion in green hydrogen production.
• The region boasts some of the highest solar irradiation levels globally, making it an ideal location for solar-powered hydrogen production.
• Countries like Morocco and Egypt have already initiated projects like the Noor Ouarzazate Solar Thermal Complex and the Benban Solar Complex, respectively, which could serve as the backbone for the industry.

While much of our attention at the African Energy Chamber (AEC) concentrates on efforts to industrialize the sub-Saharan regions, as covered in our recently released 2025 Outlook Report, The State of African Energy, the more developed North African nations have seen recent progress in the renewables field, in green hydrogen specifically, that deserves our recognition.

Many are likely unfamiliar with the technology behind the production of this fuel source, and the subject requires at least a brief explanation.…

• At the current pace of electrification amid rising population, the number of people without electricity in Africa will remain unchanged unless bold action is rolled out.
• In response to this urgent need, the AfDB Group, the World Bank, and other partners have launched Mission 300, a plan that aims to provide electricity access to 300 million Africans by 2030.
• The plan focuses on accelerating electrification through a mix of grid extensions and distributed renewable energy solutions, such as mini-grids and stand-alone solar home systems.

Across Africa, the sunlight shines bright and natural resources abound. Yet despite that lies a pressing issue that threatens to stifle the continent’s growth and prosperity: the lack of access to reliable and sustainable electricity. As we prepare for the Africa Energy Summit, taking place on January 27-28, 2025, in Dar es Salaam, Tanzania, the urgency of addressing Africa’s energy needs cannot be overstated.

Without …

• Decentralized power generation—typically based on solar home systems and mini-grids—is the best bet to eradicate energy poverty among people in more isolated rural areas.
• By decentralizing power generation, Africa can secure a sustainable energy future and improve the lives of millions of people.
• Standalone power systems or localized power networks (otherwise known as “mini-grids”) have become efficient means of power that utilize solar in combination with battery storage and backup generators.

Think about a time when your electricity went out. As you sat in the dark, maybe you wondered how long it would be before you could power up your computer again. Or perhaps you considered what you could make for dinner that didn’t require cooking.

Many people in Africa don’t need to imagine such a scenario — they live it. Every day.

A large portion of the continent, primarily in sub-Saharan Africa, lacks access to reliable and affordable electricity. …

• To vastly increase the number of gazelles—and by extension, the likelihood of unicorns—stakeholders must work together to overcome existing barriers.
• Under ideal circumstances, gazelles—fast-growing companies essential for economic growth and employment—can mature into unicorns.
• To get unicorns, however, the key lies in cultivating gazelles first. Across Africa, there is a clear need to focus on the imperatives that can drive this transformation.

Gazelles. Camels. Elephants. In the language of venture capital, we have a full menagerie to describe a startup’s growth progression. However, in the past decade, the ultimate aspiration remains the unicorn: privately held companies valued at over $1 billion.

Globally, there are approximately 1,200 unicorns across various industries, and while Africa’s list is smaller, it is growing. As of February 2023, the seven identified African unicorns predominantly operate in the fintech and digital sectors, addressing payment challenges across the continent.

For many startups in Africa, achieving unicorn status …

• Majority of 2024’s capex was driven by established producers like Angola and Nigeria.
• Senegal is an example of how operator-friendly policies, political stability, and vast reserves can attract foreign investment.
• Africa holds nearly 18 trillion cubic meters of natural gas reserves, which will prove essential for a just energy transition.

I’ve said for years that African energy is a vital investment. Backers clearly agree — to the tune of $47 billion. That’s how much capital expenditure (capex) 2024 saw in African oil and gas, showing a 23 per cent increase from last year. Better yet, we expect growth to continue through the end of the decade.

This capex activity is a welcome sign that energy majors are deepening their long-term interests in Africa. And as our 2025 State of African Energy report details, their momentum has created unique opportunities for local communities, indigenous companies, and national oil companies (NOCs) from …