Browsing: investment

Africa Climate Summit
  • 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,

Africa's hospitality industry

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.…

SEACOM
  • 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 …

Green bond issuances promoting the use of renewables in Africa
  • 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 …

Faulu bank
  • Faulu Bank, a microfinance firm in Kenya, unveils a digital platform for real time cash transfer between banks and their clients.  
  • It complements its recent innovations such as the Faulu DigiCash App, and the tap-and-pay digital cards.
  • The bank has so far invested over $1.42 million in digitizing services. 

Kenya’s Faulu Bank has unveiled a new banking solution offering large enterprises and corporations seamless, real-time, and cost-effective transfers between banks and their corporate clients.

The solution is one of the digital offerings Faulu Bank is rolling out this year as it turns into a digital-first lender.

Faulu Bank’s DigiCash App

It complements its recent innovations such as the Faulu DigiCash App, and the tap-and-pay digital cards that allow users to transact on the go.

With the introduction of the Host-to-Host solution, Faulu Bank has so far invested over $1.42 million in digitizing services.

Speaking during the official launch of the …

Switzerland based investment platform– Seedstars Capital and Fondation Botnar have announced the launch of the Seedstars Youth Wellbeing Ventures mandate targeting the African continent.
  • Seedstars Capital represents an alternative investment platform focused on supporting emerging fund managers and investing in technology companies in emerging and frontier markets.
  • Fondation Botnar is a Swiss philanthropic foundation dedicated to improving the health and well-being of young people living in urban areas worldwide.
  • The partnership reflects their shared commitment to fostering positive impact through strategic investment.

Switzerland-based investment platforms– Seedstars Capital and Fondation Botnar have launched the Seedstars Youth Wellbeing Ventures mandate targeting Africa. Consequently, they intend to invest $20 million in early-stage, purpose-driven companies. These companies will help improve the well-being of young people in low- and middle-income countries across the continent.

Seedstars Capital represents an alternative investment platform. The platform supports emerging fund managers and invests in technology companies in emerging and frontier markets. Moreover, Fondation Botnar is a Swiss philanthropic foundation dedicated to improving the health and well-being of young people living in urban areas

Morocco LGV High Speed TrainAl Boraq Fastest Train in Africa and 6th in the world.Image Source MWN
  • IFC and the Sovereign Fund will identify high-impact infrastructure projects in strategic sectors in Morocco.
  • They will work closely with stakeholders to structure them into viable projects, respecting the best environmental, social and governance standards.
  • IFC will also support the establishment of an Infrastructure sub-fund of the Mohammed VI Fund for Investment open to Moroccan and international partners.

A cooperation between the Mohammed VI Fund for Investment and the IFC has been established to find and fund sustainable infrastructure projects in Morocco.

One of the most important segments of the Moroccan economy is the infrastructure industry. Large capital investments are necessary, necessitating more private sector investment alongside public investment.

Infrastructure projects in Morocco

In accordance with this agreement, the Sovereign Fund and IFC will find high-impact infrastructure projects in Morocco industries.

“IFC is supporting the Government of Morocco to mobilise private investment in the infrastructure sector. This new partnership signed …

UK Ghana
  • Ghana and the UK have unveiled an investor group to help identify mutually beneficial investment opportunities.
  • Target industries are pharmaceuticals, textiles, and agro-processing.
  • The announcement at the 8th UK-Ghana Business Council meeting in London, saw the two countries commit to strengthen trade and increase investment.

The UK and Ghana are looking to further strengthen boost their existing trade partnership with a new investor group. The two countries have launched a new investor group to help identify mutually beneficial investment opportunities boost existing economic partnership.

The announcement at the 8th UK-Ghana Business Council meeting in London, co-chaired by the Minister for Development and Africa, Andrew Mitchell, the Minister for International Trade, Nigel Huddleston, and the Vice-President of Ghana, Dr Mahamudu Bawumia, comes as the two countries committed to strengthen trade and increase investment.

Generate leads on viable projects

The business-led UK-Ghana Investor Group will include UK investors and key

AIM Global 2023
  • The Annual Investment Meeting and Emirates Angel Investors Association agree to turn UAE into a thriving base for startups.
  • The collaboration is expected to create a positive impact on the United Arab Emirates’ startup ecosystem. 
  • The partnership will link startups with a wide network of investors, as well as the necessary resources and mentorship.

The Annual Investment Meeting (AIM) and Emirates Angel Investors Association (EAIA) have joined forces to strengthen their efforts towards promoting startups. The collaboration between AIM and EAIA is expected to create a positive impact on the United Arab Emirates’ startup ecosystem. The UAE has been a fertile base for establishment and growth of startups. 

The partnership will provide startups with access to a wide network of investors. Benefitting entrepreneurs will also access necessary resources and mentorship to help them grow and succeed.

Commenting on the partnership, Director General of AIM Walid A. Farghal said, “The purpose

IMF, International Monetary Fund

The New Tanzania Investment Act 2022 has now become law replacing the Tanzania Investment Act Cap 38 RE 2015 and its amendments. While there was an expectation for major changes, the reality is that the new Act is more or less the same as the previous minus a few differences outlined below:

1. The Act is in the Kiswahili language and there is no translation of the same in English.

2. Removal of the automatic immigration quota of 5 work and residence permits for expatriates workers. While previously an investor registered at the TIC would be allowed up to 5 immigration permits and this was typically used for investors’ strategic employees, this incentive is removed which means there is no guarantee for the investor to obtain immigration permits for its strategic employees who will be treated like every other applicant.

3. Local Investors ie Tanzania nationals or companies