(Posted 22nd December 2023)
CCA MEMBERS IN THE NEWS
Ethiopian Airlines and Citi sign loan agreement for five new aircraft
Timed Aerospace
Ethiopian Airlines has announced a landmark USD $450 million loan agreement that will finance five new Boeing aircraft: three Boeing 737-8 and two Boeing 777F (Cargo)… Read More>>
M-PESA GlobalPay users will get tap-to-pay capabilities following Visa Partnership
Techcabal
M-PESA, the ubiquitous mobile money platform used by 32.1 million Kenyans and over 60 million customers across eight African markets, is taking a pivotal step into payments. In a partnership with Visa, the global digital payments giant, M-PESA will debut tap-to-pay capabilities, marking a bold expansion beyond its virtual GlobalPay offering and setting its sights on the cash-reliant retail sector… Read More>>
U.S.-AFRICA RELATIONS
FACT SHEET: Accelerating the U.S.-Africa Partnership After the 2022 U.S.-Africa Leaders Summit
The White House
Since the U.S.-Africa Leaders Summit in December 2022, President Biden kicked off an extraordinary year of U.S. engagement with Africa and made progress in delivering on our high-profile commitments announced during the Summit. The Biden-Harris Administration is over-delivering on our commitment to invest $55 billion in Africa over three years… Read More>>
Kenya, Angola projects headline US Africa infrastructure craze
The East African
The US is listing projects in Kenya and Angola to set an example of what Washington plans to do to increase infrastructure building in Africa, in a series of proposals meant to implement the US-Africa Summit decisions last year… Read More>>
AGOA illustrates inter-dependence of Africa and the US
South African Government News Agency
The African Growth and Opportunities Act exemplifies the growing inter-dependence between African countries and the United States of America. “AGOA exemplifies the growing inter-dependence between Africa and the US. Don’t forget there are 40 million African Americans in the US,” says honourary Professor of International Relations at the University of the Witwatersrand, John Stremlau… Read More>>
ENERGY
COP28 Underscores Africa’s Energy Transition Investment Needs
Energy Capital Power
African countries have been vocal about their need for accelerated private investment and technical support to fund a just energy transition and unlock climate change finance, which is estimated at $2.8 trillion over the 2020-2030 period. The Invest in African Energy (IAE) forum – taking place in Paris on May 14-15, 2024 – is the premier platform for European investors and project developers to deliver on COP28 commitments and cement their position as Africa’s partner of choice for the energy sector… Read More>>
Afrexim advocates for inclusive and just energy actions at COP28
African Export Import Bank
African Export-Import Bank (“Afreximbank”) recently concluded its participation at COP28 in Dubai, the United Arab Emirates, where the Bank reiterated its commitment to advancing the continent’s climate goals and sustainable development agenda… Read More>>
World Bank to provide $750 mln for clean energy projects in Nigeria
Reuters
The World Bank’s fund for poor countries plans to provide a credit of $750 million for clean energy projects in Nigeria to increase to electricity in Africa’s most populous nation, the International Development Association said on Friday… Read More>>
HEALTH
Senegal, WHO launch regional emergency hub to bolster Africa’s response to health crises
World Health Organization
The Government of Senegal and World Health Organization (WHO) today inaugurated a regional health emergency hub in the Senegalese capital Dakar to further bolster the African region’s capacity to respond swiftly and effectively to health crises and save lives… Read More>>
Health experts push for local production of vaccines in Africa
English News
Health experts and leaders on Monday called for more efforts to boost local production of medical products, especially vaccines to address public health priorities in Africa… Read More>>
Community-Led Efforts Successfully Combat AIDS In Sub-Saharan African, Report Shows
Forbes
Enos Mumfwa zips around the streets of Lusaka, Zambia like a man on a life-saving mission. His Suzuki motorcycle easily handles the hairpin turns and pothole-ridden dirt roads that lead to the Mtendere Mission Hospital. Strapped to the back of his motorcycle is a small gray cooler containing blood samples that will soon be tested for viruses like HIV and Covid-19… Read More>>
INFRASTRUCTURE
African Development Bank approves a $175 million facility for United Bank for Africa (UBA) to support private sector and infrastructure development
African Development Bank Group
The Board of Directors of the African Development Bank Group today approved a $175 million financial package for United Bank for Africa (UBA), comprising $100 million in long-term senior debt, $50 million of trade finance medium-term senior debt and a $25 million risk participation program… Read More>>
USADF launches off-grid energy infrastructure project for African communities
PV Tech
The United States African Development Foundation (USADF) has launched a request for proposals to deliver off-grid energy infrastructure in Africa, with applicants set to receive up to US$250,000 to develop their projects… Read More>>
World Bank’s IFC signs deal to boost supply of affordable houses in Kenya
English News
The World Bank’s private sector lending arm, the International Finance Corporation (IFC), on Wednesday signed an equity investment agreement worth 20.9 million U.S. dollars with the International Housing Solutions (IHS) Kenya, a private equity fund manager, to boost the supply of affordable houses in Kenya… Read More>>
AGRIBUSINESS
Record 50 Million People in Western and Central Africa Expected to Experience Hunger in 2024
Democracy Now
The U.N.’s World Food Programme reports nearly 50 million people across western and central Africa are expected to go hungry next year, warning that international funding for humanitarian aid is failing to keep pace with record levels of acute hunger. An analysis published by the WFP this week found more than two-thirds of households in the region cannot afford healthy diets, due to a combination of conflict, climate change and soaring food prices. Ollo Sib is the World Food Programme’s head of research for western and central Africa… Read More>>
Ghana unlikely to achieve food self-sufficiency target in 2024
The African Report
Ghana’s Finance Minister Ken Ofori-Atta is projecting that the West African country could reach food self-sufficiency in 2024, but officials and analysts alike say the stark reality challenges the lofty aspiration… Read More>>
OCP Africa Satisfied with Contribution to Rwanda’s Agricultural Value Chain
Morocco World News
OCP Africa has renewed its determination to continue to contribute to the development of Africa’s agriculture, including in Rwanda… Read More>>
ICT
Kenya unveils e-commerce strategy to better harness the digital economy
United Nations Conference on Trade and Development
Kenya launched a national e-commerce strategy on 13 December to fortify its position as a digital frontrunner in Africa by fostering inclusive and widespread utilization of trusted and secure e-commerce services based in the country.Its Ministry of Information, Communications and The Digital Economy and the Ministry of Trade, Investments and Industry spearheaded the strategy, supported by UNCTAD… Read More>>
Techstars and ARM Labs partner to invest $1.4 million in 12 African startups
Techcabal
Techstars, a global accelerator with over 3,000 companies in its portfolio, has announced the second cohort of its Africa-focused accelerator programme in partnership with ARM Labs, a Nigerian accelerator. The cohort includes a dozen startups operating in Ghana, Nigeria, and East Africa and has four teams with at least one female co-founder. The selected startups will receive $120,000 in funding and $400,000 in cash equivalent hosting, accounting and legal support and other benefits worth more than $5 million… Read More>>
FINANCE
Africa loses $90bn annually to illicit financial flows – AfDB
Punch Newspaper
The Africa Development Bank has lamented the spate of illicit flow of funds in Africa’s financial system and called for increased measures to combat the menace… Read More>>
