Hydropower Harms Africa’s Rivers: Can Solar and Wind Offer a Greener Solution?
Across the African continent, more than 300 new hydropower projects are planned to meet the growing demand for electricity. Some of these will require big dams, which can have major negative environmental impacts. Another looming problem with hydropower is that the water cycle is affected by climate change. Water availability will be reduced and become […]
Africa Should Feature More Prominently within the Vast Asset Pools of International Fund Companies
Emily Fletcher, co-manager of the Frontiers Investment Trust at BlackRock, the world’s biggest asset manager says, “It has been a tough decade for African markets… Over the past 10 years to the end of April, the Kenyan market has fallen 12 per cent, the Nigerian market 89 per cent, and the Egyptian market 46 per […]
Highlights from the Inaugural Korea-Africa Summit
South Korea pledged to donate $10bn to Africa in foreign aid by 2030 and offer a further $14bn in export credits to Korean firms wanting to enter the African markets. Seoul also signed a $2.5bn concessional loan agreement with Tanzania, with the money being used to fund significant upgrades in the healthcare infrastructure in Zanzibar. […]
Forbes Africa’s Inaugural List of Small Giants across Africa
In the 2023 Mastercard SME Confidence Index, the World Bank notes that SMEs account for 60% of jobs in Africa. However, they operate in cash-based economies and face a $330 billion financing gap. A 2022 African Union Development Agency report supports this, indicating that SMEs account for closer to 80% of jobs in Africa. These […]
Gro’s Demise has Disappointed African Tech Investors
Gro Intelligence, a startup founded in Kenya to provide detailed artificial intelligence-powered insights on climate risk and food production for multinationals and governments, is shutting down after failing to secure financing to continue operations. The shutdown ends a ten-year run during which Gro raised over $125 million. Its most recent major funding event was an […]
The Firm but Luscious Avocado Pear Climbs Up the List of Kenya’s Exports
Already the biggest African avo-exporter, well ahead of South Africa, Kenya has been expanding its sales to Europe and is trying to push into the mass markets of India and China. “We are number five [in the world] in avocado exports and can easily get to number one,” says Simon Chelugui, Kenya’s minister for co-operatives. […]
Ghana’s Eurobond Holders Set to Take more Losses
The nation is working to restructure debt to match payment cuts accepted by countries such as the UK and China. The debt relief currently discussed would lead to bondholders getting 15% more than bilateral creditors, London-based Debt Justice, formerly known as the Jubilee Debt Campaign, said in a statement with the Accra-based Integrated Social Development […]
Building Morocco’s First EV Battery Gigafactory
Morocco is renowned as a tourist destination, with its vibrant souks, iconic Moorish architecture, and surreal Saharan desert dunes. But the country is now also making a name for itself in the automotive industry, having spent roughly the last two decades transforming into Africa’s auto-manufacturing hub. According to data company CEIC, Morocco produced 535,825 motor […]
For Many African Countries Using the Natural Materials Found within their Borders is Crucial
Many have claimed that Africa can become a green industrial hub to exploit its renewable energy resources and lead the charge towards decarbonisation. But to achieve this technological transformation and to construct the necessary batteries, solar panels and electrical vehicles requires raw materials. Companies need to find better ways to extract resources while causing minimal […]
Taking the Lead in Creating Free-roaming Zones in West Africa
The telecommunications regulatory bodies of Liberia and Ghana revealed they had begun discussions to establish free roaming services between the two countries. According to the Liberia Telecommunications Authority, this is a significant step towards enabling mobile phone users to enjoy local rates while visiting either country. The primary objective of the free-roaming initiative is to […]
