One Solution to Reducing Greenhouse Gases May Be Down the Toilet
If we learned anything from 2022, it’s that we can expect many more years of climate crises. Catastrophic floods wreaked havoc across Africa from Nigeria to South Africa, killing thousands. Extreme heatwaves in Europe and Hurricane Ian in the U.S. and Cuba cost the global economy billions of dollars. Scientists warn that extreme weather events will only get […]
Tanzania’s Mo Dewji Ready to take on Coca Cola and Pepsi
He made this announcement during his interview with CNN’s Connecting Africa, where he noted that his most lucrative product Mo Extra, a carbonated soft drink, sold over a billion bottles in 2022, which in his assessment is enough indication to begin eyeing the market share of some of the world’s foremost soda brands. “All that […]
To Succeed African Climate Statups Need more Local Patient Capital
Despite the devastating impacts of climate change on the African continent, the climate startup ecosystem remains underfunded. Compared to the fintech ecosystem, the climate startup economy is struggling. Last year, the African tech economy attracted $6.5 billion (a combination of equity and debt deals), Tech Crunch reported. Fintechs raised 39% of the total equity volume […]
South Africa Hosted the World’s Biggest Mining Investment Conference this Week
Industry experts in attendance said the U.S. and China are in a race for the critical minerals — such as cobalt and lithium — that will likely power the projected transition to clean energy. Rare earth minerals are essential for electric vehicle production and expanding the production of green technologies. However, their extraction can come […]
IMF Identified 22 African States as Either already in Debt Distress or at High Risk of Debt Distress
In recent months, the inefficiency of the G20 Common Framework has shone light on the complexity of African countries’ debt structure. According to a white paper released by Paris-based think-tank Financial Development Lab, one reason behind the slow pace of the process is the huge diversity of the creditors. “Creditor heterogeneity raises further new issues […]
Flutterwave Clears its Name in Kenya
CEO of Nigerian payments company Flutterwave, Olugbenga Agboola, arrived in Nairobi this week intending to unfreeze $60 million and lift the Central Bank of Kenya (CBK) embargo on the firm. Over the course of just one year, the startup’s operations in Kenya – its second-largest market after Nigeria – have come to a halt, with […]
What Will Happen in 2025, When AGOA is Set to Expire?
The oil ministry of the Government of National Unity (GNU) on 29 January specifically hit out against the terms of the deal, which it says increases Eni’s share of the project’s proceeds to 37pc up from a previously agreed 30pc. Its objection comes even though the deal was signed under the auspices of GNU head […]
Zimbabwe will Start a New Unit at its Only Coal-fired Power Plant by March
The unit of the Hwange power plant will increase the country’s installed capacity by more than 14% to 2,400MW. Another unit is expected to be commissioned soon after, Magna Mudyiwa said, without giving a timeline. Poor rainfall has led to a decline in hydropower generation, while the efficiency of the sole, decades-old coal-fired utility has […]
Big Investment for DRC Mines
Rawbank Sarl forecast its lending to the Democratic Republic of Congo’s mining industry will jump more than 20% to over $1 billion this year, buoyed by rising demand and strong prices for the country’s strategic minerals. The bank’s mining-linked loan book increased to $820 million in 2022, nearly doubling its credit offerings from the year […]
Africa’s Tech Sector Remains Source of Global Investment
Investment into the African tech startup ecosystem passed the US$3 billion mark for the first time in 2022, with the space withstanding global economic headwinds to post a record year. This is according to the eighth edition of the annual African Tech Startups Funding Report released by startup news and research portal Disrupt Africa, which […]
