Corporate Council on Africa’s latest new

U.S.-AFRICA RELATIONS
The United States Issues an Advisory Focused on the Gold Sector Across Sub-Saharan Africa

Today, the U.S. Department of State, the U.S. Department of the Treasury, the U.S. Department of Commerce, the U.S. Department of Homeland Security, the U.S. Department of Labor, and the United States Agency for International Development issued a unique business risk advisory focused on the gold sector across sub-Saharan Africa.  The advisory highlights the opportunities and specific risks raised by the gold trade across sub-Saharan Africa and encourages industry participants to adopt and apply strengthened due diligence practices to ensure that malign actors, such as the Wagner Group, are unable to exploit and benefit from the sector, which remains essential to the livelihoods of millions of people across the continent…Read More>>

Global oil prices have come under strain, spelling some good news for local petrol prices in July.The latest data from the Central Energy Fund (CEF) shows projected prices have not changed much since the mid-month review, with petrol still in line for a cut, while diesel is heading for a price jump.Petrol is showing an over-recovery of between 11 and 19 cents per litre, while diesel is showing the opposite in a range of 14 to 19 cents per litre… Read More>>

Libiya Set to become a renewable energy exporter to Malta
Esi-Africa
Malta and Libiya have signed a memorandum of understanding which will see the African country become a renewable energy source for the small European island. The agreement was signed in Tripoli after a bilateral meeting between Malta’s Prime Minister Robert Abela and Libiyan Prime Minister Abdul Hamid Dbeibah. In talks between the two leaders,the themes of energy,sercurity and economic cooperation between the two countries were discussed… Read More>>

Hydrogen markets in Africa are expected to grow exponentially but there are still multiple barriers to the widespread development of decarbonised hydrogen. Each energy sector investment faces challenges in the form of infrastructure gaps, policy, regulatory, economic and financial barriers. A recent positive development in this regard is the announcement that a dedicated blended finance fund, SA-H2, has been launched to raise USD 1 billion for the construction of green hydrogen projects in South Africa. Once established, the SA-H2 will join the SDG Namibia One Fund to offer a blended finance solution for Southern African’s green hydrogen sector… Read More>>

A $100 million energy facility will be built in Zambia by the liquefied petroleum gas (LPG) company Taifa Gas of Tanzania in partnership with the local business Delta Marimba.24 months after receiving regulatory permits from the Zambian government, including the Environmental Impact Assessment, the factory, which will be located in northern Zambia, will begin producing. Taifa Gas says it will explore more LPG opportunities such as cooking gas.The LPG power station will contribute 100 megawatts to Zambia’s national grid once it is operating. According to Taifa Gas Executive Director Hamis Ramadhani, who spoke to local media on Monday, the investment was principally motivated by the favorable business climate and policies established by Zambian President Hakainde Hichilema and Tanzanian President Samia Suluhu Hassan… Read More>>

The COVID-19 pandemic had an adverse impact on people living with HIV in Zambia, many of whom lost their livelihoods due to lockdown and closure of economic activities.The ILO, in partnership with the Network of Zambian People Living with HIV (NZP+), designed and implemented an economic empowerment initiative which aimed at building the resilience of people living with HIV against COVID-19 and similar future shocks. Following an extensive consultative process with support groups of people living with HIV associated with NZP+ on viable income-generation activities, the ILO, the Zambia Federation of Employers (ZFE) and National AIDS Council, Zambia settled on the commercial production and sale of alcohol-based hand sanitizers, which were much in demand during the COVID-19 pandemic. NZP+ support groups were also helped to set up and run their own microenterprises using the profit from the sales of the sanitizers… Read More>>

INFRASTRUCTURE

The Department of Transport says that work is still progressing on the government’s plans to introduce high-speed train systems to the country.Responding to a written parliamentary Q&A, the department noted that its high-speed rail (HSR) framework is still in the works.The framework forms part of the National Rail Policy that was adopted by cabinet in March 2022.“Drawing its policy direction from the National Rail Policy, the HSR framework provides the foundation for the prioritisation of HSR corridors in the country,” it said…Read More>>

African governments, partners express support for Alliance for Green Infrastructure in Africa toward target of mobilizing $500 million
African Development Bank Group
On the sidelines of the Summit for a New Global Financing Pact in Paris, African leaders, investors and development partners, including the African Development Bank Group, have highlighted their steadfast support for the Alliance for Green Infrastructure in Africa as it advances toward a first close of $500 million for green infrastructure projects in Africa.African Development Bank President Akinwumi A. Adesina led a roundtable discussion about the Alliance, an initiative of the African Union Commission, the African Development Bank, and Africa50 with other partners… Read More>>

ICT

As small businesses wrestle with narrowing profit margins and fierce competition, tapping into customer loyalty is emerging as a secret weapon for driving revenue growth. To unlock this growth potential, PressOne Africa introduces Call AI.PressOne Africa’s Call AI is an innovative AI-driven tool that analyses customer calls in real-time. This allows businesses to instantly detect and swiftly address customer grievances. In doing so, it not only prevents customer churn but promotes repeat business – a critical driver for sustainable revenue growth… Read More>>

Technology crucial for Africa’s increasing demand for energy – Herbert Krapa
Ghana Web
The Deputy minister for energy, Herbert Krapa, has underscored technology as the answer to Africa’s speedily growing demand for energy. He noted that efficient,reliable,resilient and affordable technology is required to grow energy systems in Africa in order to meet the increasing demand for energy.” Demand for energy in Africa is rising and will continue to rise, and if energy systems in Africa will grow to meet this rapidly growing demand, technology is the answer… Read More>>

FINANCE

Sustainable Finance Awards 2023: Africa
Global Finance Magazine
As African countries industrialize to meet the demands of growing populations, sustainability for banks operating in Africa is a big priority. They play an integral part in the sustainable debt instruments that finance the continent’s infrastructure projects. These projects include more efficient transportation systems, renewable energy capabilities, green buildings, healthcare facilities, and sustainable water and wastewater management to help countries reduce carbon footprints and meet broader social goals. Banks in this region also looked at new ways of accessing sustainable finance… Read More>>

The World’s Financial Architecture Is Failing Africa

The Washington Post
The United Nations Secretary General, António Guterres, recently sounded an ominous alarm bell. The Sustainable Development Goals, which aim to significantly reduce poverty around the world and create a better quality of life for all, are off track, he warned.And so French President Emmanuel Macron called a global conference in Paris this month to address getting the 2030 SDG targets back on course. As world leaders from Barbados to Kenya to Germany gather, there are seven things they must focus on. This blueprint for prosperity is too important to let slide… Read More>>

Nigeria’s banking sector is experiencing its strongest quarter in six years, indicating positive economic prospects for the country. Nigerian banks have outperformed emerging-market stocks by a significant margin, with banking stocks rising by 34% this quarter. This performance is on track to be the best since 2017.According to data from Bloomberg, the NGX10 index, which tracks the performance of Nigerian lenders on the Nigerian Exchange, has increased by 45% this year, and a remarkable 54% in the last 52 weeks. In comparison, the MSCI Emerging Markets Europe, Middle East, and Africa Index recorded a loss of 2.3% during the same period… Read More>>