(Posted 15th August 2024)
CCA MEMBERS IN THE NEWS
Absa’s Webber to Highlight Environmental Social Governance (ESG) and Investment Trends in African Critical Minerals at Critical Minerals Africa (CMA) 2024
Africa.com
Mining company African Rainbow Minerals reached an agreement last September with financial services company Absa – along with finance institutions Standard Bank, the Development Bank of South Africa and Nedbank – to provide finance for the construction of a 132 MW solar project. The move is set to provide renewable energy to platinum mining projects in South Africa through power purchase agreements (PPAs)….Read More>>
African Development Bank approves $40 million Trade Finance Transactions Guarantee Facility to Ethiopia’s Dashen Bank
African Development Bank Group
The Board of Directors of the African Development Bank Group has approved a $40 million transaction guarantee facility to support Dashen Bank’s trade finance activities in Ethiopia. The Facility will provide support to Small and Medium Sized Enterprises (SMEs) and local corporates’ import and export trade finance requirements. It will also support intra-Africa trade, thus directly contributing to the successful implementation of the African Continental Free Trade Area (AfCFTA) agenda….Read More>>
U.S.-AFRICA RELATIONS
Afreximbank to double intra-African trade financing to $40 billion by 2026
Afreximbank
African Export-Import Bank (Afreximbank) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026, Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, has said. Mr. ElMaayergi was addressing participants and guests in Abuja at the African Caucus Meeting of the World Bank Group and the International Monetary Fund (IMF), from?August 1 – 3, 2024 where he represented Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank. Attended mainly by ministers of finance and Central Bank Governors from across Africa, the meeting had the theme “Facilitating Intra-African Trade: Catalyst for Sustainable Development in Africa”, and was aimed at identifying key challenges facing Africa in achieving full integration and at engaging in strategic dialogues to engender sustainable solutions.
…Read More>>
The Lobito Corridor: A U.S. Bet on Africa’s Critical Mineral Development
U.S. Institute of Peace
Demand for critical minerals is expected to skyrocket in the decades ahead. These minerals — such as copper, cobalt and lithium, among others — power the electronics we use every day and are essential for transitioning to greener energy technologies. The U.S. is increasingly working with African partners to develop the continent’s abundant critical minerals, an effort that is vital to advancing U.S. economic and national security interests. It also will have major implications for African countries: How these critical minerals are developed will significantly impact the continent’s economic future and beyond, even affecting peace and stability. This increasing U.S. policy focus comes against the backdrop of intensifying U.S. geopolitical competition with China, which dominates many African mining sectors….Read More>>
ENERGY
Shaping Trade Policies to Facilitate Renewable Energy Manufacturing in Africa
SE for All
Shaping Trade Policies to Facilitate Renewable Energy Manufacturing in Africa African leaders are focusing on energy transition and green growth plans to bring about a new age of prosperity across the continent. Given the significant regional demand and abundant natural resources, the energy transition represents an opportunity to reduce import dependency, build local industries and ensure that African countries play a major role in the renewable energy technology supply chains….Read More>>
African Development Bank Group’s Sustainable Energy Fund for Africa approves $10 million contribution to KawiSafi II clean-energy Fund
African Development Bank Group
The Board of Directors of the African Development Bank Group has approved a $10 million junior equity investment in the KawiSafi II Fund to help local businesses create and expand climate projects that aid vulnerable communities. The approved financing will be deployed from the Sustainable Energy Fund for Africa (SEFA), a catalytic financing facility managed by the Bank Group. KawiSafi II is a $200 million venture equity fund to address investment gaps in energy transition, productivity, mobility and logistics in sub-Saharan Africa. It includes a $10 million technical assistance facility to maximise climate impact and ensure better management of environmental, social, and governance risks…..Read More>>
HEALTH
How scaling up clinical research in Africa can benefit society and the economy
World Economic Forum
Demographic trends define Africa as the world’s fastest-growing region, with its population potentially doubling by 2050. As the continent achieves significant progress in the control of infectious diseases, the rise of non-communicable conditions, in parallel with the possibility of emerging pandemic pathogens, is adding more pressure to already strained healthcare systems and posing challenges to continental development ambitions….Read More>>
The future of healthcare in Africa: Insights from Smart Health Summit 2024
New Times
In the healthcare of tomorrow, data reigns supreme. The consolidation of patient information into comprehensive, easily accessible records is not just a convenience – it’s a necessity. Platforms facilitating this unified view of medical histories will be pivotal in driving more informed, efficient care. Patients are no longer passive recipients of healthcare data. The rise of wearable technology and personal health devices has given birth to the era of the “prosumer” –individuals who both produce and consume their own health data. This shift emphasises the growing importance of patient data ownership and access, placing more control and responsibility in the hands of individuals….Read More>>
INFRASTRUCTURE
Africa’s Richest City Needs $12 Billion to Fix Infrastructure
Bloomberg
The mayor of Africa’s richest city just quit amid political infighting and financial turbulence. Johannesburg needs $12 billion to fix its crumbling roads and water system, with no clear plan in sight….Read More>>
IHS and MTN Extend Infrstructure Deals, Strengthening Partnership Across Six African Markets
TechAfrica News
Following the announcement last week that IHS Holding Limited and MTN Group (JSE: MTN) had renewed and extended communications infrastructure deals in Nigeria, as well as completing the renewal of all contracts across IHS Towers-MTN markets recently, the companies said on Tuesday that with the commercial relationship now firmly established for the next decade, they will now work constructively to find a mutually agreeable resolution to governance issues previously raised….Read More>>
AGRIBUSINESS
Rethinking the Agribusiness Industry in Ghana
Forbes Africa
Amidst the ever-pressing demand for high-quality food, Olam Agri is playing a crucial role in the food supply chain across continents, producing grains, oilseeds, edible oils, and rice, among others. The firm’s perennial service has spanned over three decades, with strategic investments in Ghana, Cote d’Ivoire, Nigeria, Cameroon, and Senegal. In Ghana, Olam Agri is engaged in the production, processing, distribution, and export of agricultural products and food items to international markets. “We source rice locally from Ghanaian farmers. We ensure a consistent and high-quality product and contribute to the growth and prosperity of local agricultural communities,” says Amit Agrawal, Country Head of Olam Agri….Read More>>
ICT
Africa Tech Festival 2024 Showcases Women Tech and Telecoms Leaders, Aims to Positively Impact Africa’s Information and Communications Technology (ICT) Gender Gap
Africa.com
When the 27th edition of Africa Tech Festival kicks off on 12 November at the Cape Town International Convention Centre in South Africa, the spotlight will be on the exceptional women shaping the future of technology and telecoms in Africa. With August marking the celebration of Women’s Month in the host country, the event will proudly showcase many of the women leaders driving growth and innovation across the sector….Read More>>
Namibia’s 8th National ICT Summit: Paving the Way for Africa’s Digital Resilience
TechAfrica News
The city of Windhoek is poised to become the epicenter of Africa’s digital transformation as it prepares to host the 8th National ICT Summit from September 9th to 11th, 2024. This prestigious event will bring together hundreds of Information and Communication Technology (ICT) experts, institutions, and stakeholders from across the globe, marking a significant milestone in Namibia’s journey towards embracing digital transformation and artificial intelligence (AI)….Read More>>
FINANCE
How to finance Africa’s future economic development
World Economic Forum
The current global financial architecture faces significant challenges in addressing the financial needs for climate action, sustainable development, and debt management. The calls for reform are growing louder, seeking to create a more equitable, inclusive, and sustainable financial system….Read More>>
Three Africa-led blended finance models mobilizing billions for development
Impact Alpha
Innovations are accelerating Africa’s economic transformation. After two decades of continued economic growth, lingering impacts of the COVID-19 pandemic and recent global economic pressures have knocked the continent off track on almost all Sustainable Development Goal targets. Substantial resources – $1.3 trillion a year or 42% of Africa’s $3.1 trillion gross domestic product in 2023 – are required to achieve the SDGs in Africa by 2030. Africa’s SDG financing gap is equivalent to 0.2% of the value of global financial assets or 10.5% of African held financial assets….Read More>>
