- Natural gas, a flame of opportunity for African economies
- Africa shows real promise in green hydrogen
- Forum positions Africa as a hub for trade and investment
- AfDB and ECOWAS take stock of regional integration strategy
- World’s largest submarine cable project 2Africa lands in DRC
- A Safaricom-Apple partnership is on the horizon
- Africa’s energy quest: Challenges, opportunities, and partnerships
- Elon Musk’s Starlink is off to a bright start in Africa
- DRC, through its investment portal ANAPI reassures investors
- Rwanda slams US statement saying it undermines regional peace process
- EAC Heads of State order immediate cease fire in Rwanda-DRC conflict
Rwanda should stop supporting the rebel group and withdraw its soldiers from the DRC, the US State Department has said in an official statement.
This US call for Rwanda to ‘cease and desist’ aiding rebel groups and to also recall its troops from the DRC is the latest effort by the international community to intervene in the protracted dispute between the two countries.
The US says Rwanda’s alleged aid to rebel factions in the DRC is undermining the regional peace process.
The statement comes only days after the East African Community (EAC) Heads of State met in the Burundi capital of Bujumbura. The meeting was an Extra-Ordinary Summit held to evaluate the “Security Situation in the Eastern Democratic Republic of Congo …
- The DRC is viewed as a most promising member of the regional bloc offering a market of over 96 million people.
- DRC is also rich in many coveted minerals such as cobalt and Nickel, gold, and diamonds, which has caused a long-standing conflict.
- The EAC peace forces in the DRC were sent in early last year to restore peace and stability in the region.
The East Africa Community (EAC) has been touted as a model for regional economic blocs in Africa but the tension between Rwanda and the bloc’s newest member, DRC, is threatening to derail the region’s social and economic integration.
The two neighboring countries have had a dicey relationship in the recent past with the largest country of the EAC, the DRC, accusing the smallest country in the region, Rwanda, of supporting rebels within its borders.
The DRC is viewed as a most promising member of the regional
Elon Musk applied for licensing to provide Tanzania with satellite Internet services; that was last year. This year, the Tanzania Communication Regulatory Authority (TCRA), has said, Musk’s Starlink, the company that provides the satellite internet services, needs only to complete the required procedure to set up shop in the country.
This response by Tanzania to Elon Musk’s application has stirred up controversy on Twitter with executives from both sides raising allegations and counter-allegations.
On Elon Musk’s side, you have allegations of foul play by existing telecom giants in Tanzania lobbying to keep his Starlink from entering the market.
On Tanzania’s side, you have authorities playing it safe with a clean-cut statement saying Elon Musk’s Starlink needs only to comply with the country’s regulation requirements, otherwise, Starlink is more than welcome to enter the market.
If the Twitter exchange is …
- IFC and Equity Banque Commerciale du Congo (EquityBCDC), a subsidiary of Equity Group, has partnered to increase access to finance for small and medium-sized enterprises (SMEs) in the DRC and to promote economic diversification in the country.
- Under the partnership, IFC will support the expansion of EquityBCDC’s SME-lending operations through a $12.5 million risk sharing facility (RSF).
- Through the partnership, EquityBCDC aims to provide an additional 1,700 SME loans within the DRC and expand its SME portfolio from $250 million in 2021 to $631 million by 2026.
IFC and Equity Banque Commerciale du Congo (EquityBCDC), a subsidiary of Equity Group, has partnered to increase access to finance for small and medium-sized enterprises (SMEs) in the DRC and to promote economic diversification in the country.
Under the partnership, IFC will support the expansion of EquityBCDC’s SME-lending operations through a $12.5 million risk sharing facility (RSF).
IFC is also providing advisory services …
- Analysts have termed Central Africa as a sleeping Giant, yet to awaken as the region recorded the least funding for startups in 2022.
- In 2022, Central Africa was by far the region where start-ups raised the least funding through deals worth $100,000 and over with a total of $51 million according to the latest report by The Big Deal.
- While the region represented only 1.1 percent of the funding raised on the continent, Year on Year growth was commendable, as start-ups raised more than double the amount that had been raised in 2021 ($24 million).
Analysts have termed Central Africa a sleeping giant, yet to awaken as the region recorded the least funding for startups in 2022.
Max Cuvellier from The Big Deal says there is a huge potential in the region despite the depressed numbers.
“This is not to say that there isn’t talent or potential in the DRC, …
- TransCentury Group Plc (TC)’s rights issue commenced trading on Thursday morning at the Nairobi Securities Exchange (NSE).
- TC shareholders have until January 23, 2023 to take up 1.87 million new ordinary shares
- The firm is seeking to raise Sh 2 billion which will be directed towards recapitalizing the business, reducing debt and unlocking working capital.
TransCentury Group Plc (TC) shareholders have until January 23, 2023 to take up 1.87 million new ordinary shares as rights issue commenced trading on Thursday (29th December, 2023) at the Nairobi Securities Exchange (NSE).
The infrastructure investment firm is seeking to raise Sh 2 billion which will be applied towards recapitalizing the business, reducing debt and unlocking working capital for TC’s underlying businesses.
TC Group Chief Executive Officer Nganga Njiinu said the company has strengthened its governance structures reassuring shareholders as it strives towards profitability.
“Our shareholders taking up their rights will be investing in …
Tanzanite is a precious stone said to be a thousand times rare than the rarest diamond. True to that claim, the tanzanite gemstone is mined in only one location in the world; a small area in Simanjiro District in Tanzania.
Given the scarcity of tanzanite you would expect that the single mining country, Tanzania would be stock rich, or at least earn the lion’s share of what the gem is valued.
This is not the case. In fact, the exact opposite is true. Tanzanite trade globally earns USD 500 million a year, but Tanzania’s export revenues are a paltry USD 20.75 million, or equivalent to 4.15 percent of the global export value!
The overwhelming question is why and more importantly how can the situation be resolved? how can Tanzania increase its earnings from its monopoly mining of tanzanite?
- Elon Musk Starlink satellite internet in Tanzania expected as early as first quarter of 2023
- Tesla to access nickel and cobalt from Tanzania’s Kabanga mines by 2025
- Tanzania, Kabanga form Tembo Nickel Corporation at 16% and 84% shares respectively
Elon Musk in Tanzania: Did you know, there are over 3250 satellites hovering in the Lower Earth Orbit over you? The number is not shocking, what is impressive is the entire satellite constellation is owned by a single company, Elon Musk’s Starlink.
In his ambitious effort to offer faster internet coverage globally, the world’s richest man actually plans to have as many as 42,000 satellites in the Lower Earth Orbit (LEO).
As we enter the New Year 2023, Tanzania is set to become the fourth African country to allow internet service provision from Starlink’s LEO satellites.
Even though Tanzania has already laid down some 7,910Km of fibre optic cable that …
For Africa, energy security should come first due to the fact that the continent is the least polluter but it bears a disproportionate burden wrought on by climate change impacts. From 1850-2020, according to analysts, Africa’s global emissions contribution have remained below 3 per cent. However, the continent lost about 5– 15 per cent of GDP per capita growth annually from 1986 – 2015.
With the aggressive shift to clean energy, Africa risks even worse human and economic crises due to the multipronged dangers of climate change and the possible displacements caused by mining activities.
Already, climate change-related catastrophes have triggered internal displacement of 2.6 million people going by 2021 estimates. Violence and displacement are some outcomes of climate-related disasters which leaves millions facing acute food shortages and increasing vulnerability. If mining in the DR Congo, and Africa at large, continues as it has for decades, then the displacements, hunger…
It is important to outline how the DRC stands to become a crucial investment hub in Africa. Foreign and domestic private entities reserve the right to establish business ventures across the nation and engage in all forms of remunerative operations, this is according to the US State Department as it outlines its engagement strategy with the country.
The DRC’s investment agency—the National Agency for Investment Promotion (ANAPI) provides essential facilitation services for initial investments over US$200,000 and is responsible for simplifying the investment process, make procedures more transparent, assist new foreign investors and improve the business image of the DRC—as the investment destination.
The DRC has potential sectors that are essential for investment and boosting the nation’s economic landscape for the betterment of the region. The sectors do not only create enough revenue to expand the welfare of the population, but create sustainable systems that creates millions of job opportunities.