Browsing: Uganda

• With Acumen’s boost, d.light will speed up operations in Uganda, where about 2M people will access electricity for the first time.
• By selling customer receivables to Brighter Life by d.light (BLd) upfront, d.light subsidiaries now have immediate cash flow, enabling them to scale at speed.
• This funding model not only supports financial sustainability but also mitigates currency risks by conducting transactions in local currencies.

For solar-power equipment provider d.light, the journey to lighting homes across East Africa with reliable green energy is fast gaining momentum.

In the latest move, d.light has received a $5 million investment from Acumen’s Hardest-to-Reach (H2R) initiative. This funding is poised to enhance d.light’s presence in Uganda, Kenya and Tanzania.

Acumen’s investment in d.light’s multi-country receivables financing facility, Brighter Life by d.light (BLd), aims to expand energy access for underserved communities in East Africa, creating a huge impact on millions of lives.

Acumen’s H2R is a …

• Green building in Uganda is gaining traction with several standout projects showcasing sustainable design and construction.
• Uganda’s green building strategies are rooted in a few key principles, key among them, energy efficiency, biodiversity preservation and use of sustainable materials.
• Projections by the IFC show that investment in green buildings in emerging market cities will hit $24 trillion over the next 10 years.

Uganda is making a stab at establishing itself as a leader in green urbanization in East Africa, leveraging policies such as the Uganda Green Growth Development Strategy (UGGDS). This development blueprint aims to integrate key aspects of sustainability into urban planning through eco-friendly infrastructure, green energy, and resource efficiency.

Kampala, the capital city, is increasingly welcoming green projects with authorities embracing strategies that seek to minimize environmental impact while fostering urban resilience in the face of adverse effects of climate change.

Landmark green building projects

Green building in …

• Bad weather is severely affecting Brazil, and Vietnam’s coffee output.
• Coffee prices are soaring as global supply decreases from the South American countries.
• As Brazil and Vietnam take a hit, East African coffee producers stand to gain as prices increase.

Coffee output in Brazil and Vietnam has taken a hit owing to bad weather affecting global supply, a scenario that could turn the tide in favour of the bean producers from East Africa.

At the moment, Brazil, which is the world’s largest coffee supplier, is facing worsening drought that is expected to further affect the optimum production of the crop in this year.

Since April 2024, rainfall in Brazil has been below the required amount, which has in turn severely affected the flowering of coffee trees and therefore, overall production.

According to the ICE, there is a drastic decline in arabica coffee stocks which are reported to be at a …

• Uganda has digitized land management system to ease transactions.
• Real estate stakeholders urged to align with the new digital system.
• Stakeholders cautioned to conduct due diligence along with use of the new system.

Authorities in Kampala have launched what they call as the Uganda National Land Information System (UgNLIS), a digital platform which the country’s Ministry of Lands, Housing and Urban Development is banking on to modernize management of the key resource.

According to an update from the ministry, the initiative seeks to eliminate inefficiencies in land management in the country. The ministry says that by digitizing land records, they will be able to enhance transparency and accessibility to vast array of land records.

“The system is a significant step toward transforming land services and boosting public trust…the UgNLIS manages spatially-referenced data for land registration, valuation, planning, and administration across Uganda,” reads the report in part.

“The digital system is …

• Sub-Saharan Africa economic growth remains stuck in “low gear” with a large youth population at risk of being left behind—The World Bank.
• Currently, seven in 10 children in Sub-Saharan Africa do not have access to pre-primary education.
• The World Bank says stabilizing economies and transforming education to equip the region’s growing workforce with stronger foundational skills and market-relevant expertise is critical.

Despite signs of a fragile economic recovery, Sub-Saharan Africa economic growth remains stuck in “low gear” with a large youth population at risk of being left behind. According to the latest analysis by the World Bank’s Africa Pulse, two factors are critical to jumpstart inclusive growth: stabilizing economies and transforming education to equip the region’s growing workforce with stronger foundational skills and market-relevant expertise.

The report, which is in its 30th edition and on the theme of Transforming Education for Inclusive Growth, says economic activity in the region …

• 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 …

• Key reforms ranging from privatisation initiatives in Kenya to financial liberalisation in Ethiopia, are positioning East Africa as a prime destination for PE investment.
• In Uganda, upcoming oil production in 2025 is expected to increase PE activity, particularly in sectors and businesses that will benefit indirectly from the oil industry.
• Tanzania’s one stop facilitation centre introduced in 2023 seeks to streamline the investment process by integrating key authorities that issue permits and approvals.

East Africa is experiencing a surge in private equity (PE) interest, driven by a wave of government reforms that are reshaping the financial industry. Kevin Kimotho, East Africa Private Equity Leader at Deloitte Africa, has highlighted these developments in the firm’s latest Deloitte Africa Private Equity Confidence Survey 2024.

These reforms, ranging from privatisation initiatives in Kenya to financial liberalisation in Ethiopia are positioning East Africa as a prime destination for PE investment.

Currently, Kenya continues …

• DRC is grappling with a severe outbreak of Mpox, reporting over 1,000 new cases in just one week.
• This alarming surge has prompted health authorities in Africa to urgently request vaccines to combat the viral infection.
• Kenya, the DRC, Burundi, Rwanda, and Uganda are set to benefit from a donation of 50,000 doses of mpox vaccine as part of a global effort to check spread.

The Democratic Republic of Congo (DRC) is grappling with a severe Mpox outbreak, reporting over 1,000 new cases in just one week. This alarming surge has prompted health authorities in Africa to urgently request vaccines to combat what is increasingly seen as a growing threat on the continent. As the Mpox outbreak escalates, the need for international support has become more critical than ever.

The growing threat of Mpox in Africa

Mpox, a viral disease belonging to the same family as smallpox, is spreading rapidly …

• The EAC’s distribution sector is marred by systemic challenges, despite claims of a working free trade zone in the bloc.
• Stakeholders say that persistent bottlenecks hamper the flow of goods and services across the eight-member area.
• A recent EU-led EAC Peer-to-Peer Learning Conference sought to formulate a strategic action plan to address barriers limiting the industry’s growth and development.

The East African Community (EAC) is an eight-country strong regional free trade bloc in East Africa, by definition, it should mean easier movement or distribution of goods and services, but that’s only true on paper, the reality on the ground is quite on the contrary.

EAC maintains that it is “dedicated to enhancing economic efficiency and fostering regional integration through strategic investments and the utilization of established industries. The goal is to position the Community as a single investment area, harmonizing trade policies, investment incentives, and product standards.”

Protocols demand that …

• Startups in Africa have attracted over $1.2 billion in financing this year.
• Experts note that debt financing for startups in Africa is increasingly taking centre stage.
• In July, startups d.light, Va1U, Terrapay as well as Cartona all settled on debt financing to boost operations.

Startups in Africa have defied the odds in declining global capital flow, attracting a record $420 million in financing in July. This funding, which excludes exits, takes to $1.2 billion the amount of money channeled to startups in Africa this year and is the highest on record in 14 months.

“The numbers were heavily skewed by the two mega deals that were announced during the month: d.light’s $176 million securitisation facility and MNT-Halan’s $157.5 million raise. NALA’s $40 million Series A also deserves a mention. Combined, these three deals represent 90 percent of the funding raised,” an update by startup funding tracker, Africa: The Big Deal…