- 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
Africa has today emerged as a fertile ground for groundbreaking startups. As 2024 approaches, the continent’s startup scene is buzzing with activity, marked by impressive funding rounds and strategic expansions. This trend is a fleeting moment and a testament to African entrepreneurship’s resilient and dynamic spirit.
The Exchange Africa spotlights five startups thriving and redefining the business landscape in their respective sectors. From renewable energy solutions in the Democratic Republic of Congo to digital health platforms in Kenya, these companies embody the ingenuity and potential of Africa’s business ecosystem. They attract significant investment and are poised to substantially impact their communities.…
- Nairobi, Kenya, will be the site of the highly anticipated Annual Conference of the African Securities Exchanges Association (ASEA) from November 22nd to 24th, 2023.
- The African Securities Exchanges Association has played a pivotal role in moulding Africa’s financial scene.
- A partnership of financial firms, the African Securities Exchanges Association is a key player in Africa’s economic revival. Its ability to promote inclusive growth, knowledge sharing, and cooperation is crucial.
Nairobi, Kenya, will be the site of the highly anticipated Annual Conference of the African Securities Exchanges Association (ASEA) from November 22nd to 24th, 2023, drawing the attention of the financial community of Africa. Positioning for Growth: Unlocking Africa’s Stock Exchange Potential for Sustained Economic Development is more than simply a debate topic; it’s a rallying cry for an economic revolution that is about to happen on the African continent.
The African Securities Exchanges Conglomerate (ASEA) has played a pivotal …
Bamburi Cement PLC has announced plans to sell its Ugandan business to Sarrai Group, pending regulatory approvals. The Board of Directors of the cement maker has approved the sale of its stake in Hima Cement Limited, Uganda, amid declining profits.…
- Dubai Ports World (DP World), based in the United Arab Emirates, is rapidly expanding its operations across Africa to become a dominant player in the region’s commerce.
- Establishing a streamlined commerce corridor connecting East Africa and the Great Lakes region is a fundamental plank of DP World’s overall strategy.
- DP World seeks to regulate and strengthen African trade by tackling the difficulties of logistics and storage with cutting-edge digital solutions.
Dubai Ports World in Africa
As the Africa Continental Free Trade Act ushers in a new era of African trade, a significant participant rises from the Arabian Peninsula. Dubai Ports World (DP World), based in the United Arab Emirates, is rapidly expanding its operations across Africa to become a dominant player in the region’s commerce.
The story’s action begins in one of East Africa’s thriving harbours. The vast potential of the Kenyan ports of Mombasa, Lamu, Kisumu, and Naivasha has …
Kenya has bagged three green investment deals at the recently concluded Africa Climate Summit. The sustainable trade investment deals will see the East African nation partner with Sweden, South Africa and Hong Kong to enhance food security and air travel in the country. The parties involved announced the three deals during a sideline event of the 2023 Africa climate summit in Nairobi.…
- AFC and CPF Financial Services will collaborate in identifying, developing, and co-financing infrastructure projects aligned with Kenya’s growth plan.
- Globally, infrastructure development is recognized as a critical pathway to any country’s economic take-off.
- Kenya boasts one of the best infrastructure networks in the South of Sahara.
Kenya’s infrastructure is set for a huge boost following a partnership between the Africa Finance Corporation and CPF Financial Services. The agreement signed during the opening of the ongoing Africa Climate Summit is aimed at increasing infrastructure investments in the East African nation.
Under the new partnership AFC and CPF Financial Services will collaborate in identifying, developing, and co-financing priority infrastructure projects that are aligned with Kenya’s development roadmap. The two organisations will leverage their combined technical expertise and access to domestic and global capital.
“African institutional investors are one of the single largest sources of investable capital and will play a catalytic role …
- Currently, East Africa is reeling from the effects of the worst drought on record; extreme heat is ravaging northern Africa while flash floods remain a constant threat.
- This is despite the continent contributing the least to global warming and having the lowest carbon emissions on record.
- According to the African Development Bank (AfDB), Africa is the most vulnerable continent to climate change impacts under all climate scenarios above 1.5 degrees Celsius.
Over the past few years, the frequency and intensity of adverse effects of climate change in different African nations has been on the rise. Rising temperatures, floods, and droughts are as a result of climate change yet the continent contributes the least carbon emissions.
However, resultant collateral damage is posing systemic risks to the continent’s economies. Infrastructure investments, water and food systems, public health, agriculture, and livelihoods are at risk, threatening to undo Africa’s modest development gains. Left unchecked, …
The hospitality industry is changing fast. When considering the future hotel experience, you are no longer just looking at a travel destination or a sleepover spot. Hotels of the future must offer more. An ‘augmented hospitality experience’ is what experts are calling it. Thus, stakeholders in Africa's hospitality industry must explore ways to adapt.…
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- The funding will see SEACOM grow its broadband cable network and cloud-based product offering in sub-Saharan Africa.
- Under the new deal, IFC will provide a $207 million long-term loan to SEACOM.
- The funding will support SEACOM to become the next-generation cloud-based IT service business.
SEACOM has partnered with the International Finance Corporation (IFC) to increase the access to broadband IT services for small and medium-sized businesses across Africa. The partnership will see SEACOM, a digital infrastructure and IT services company, grow its broadband network and cloud-based offerings in sub-Saharan Africa.
IFC will offer SEACOM a $207 million loan, which includes $70 million from IFC’s own financing. A total of $42.24 million co-financing will come from institutional investors through IFC’s Managed Co-Lending Portfolio Program. Another $94.76 million will be mobilized from Nedbank Limited and Mauritius Commercial Bank.
SEACOM expanding cloud-based services
“Access to affordable, good-quality internet is central to economic …
- PROPARCO and the IFC, are scaling up of renewable energy production in both Kenya and DRC.
- The two organisations will support Nuru, an early-stage company that provides decentralized and low-carbon power solutions in DRC.
- PROPARCO will invest in the first close of E3 Low Carbon Economy Fund I (LCEF), which based in Kenya.
Two renewable energy investments in the Democratic Republic of Congo (DRC) and Kenya will receive financial backing to enhance their low-carbon power solutions.
The move comes after PROPARCO and IFC announced plans to support scale up of renewable energy in the two countries. PROPARCO and IFC are members of the Alliance for Entrepreneurship in Africa.
The two organizations declared support for Nuru, an early-stage startup that offers decentralized and low-carbon electricity solutions in the DRC, during the Paris summit for a new global funding agreement.
“Our support for Nuru, delivered with partners through the Alliance for Entrepreneurship …