(Posted 19th December 2024)
CCA MEMBERS IN THE NEWS
Flutterwave Named As Fast Company’s Brand That Matter
Tech City
Flutterwave, Africa’s leading payment technology company, has been named among other global brands as Fast Company’s Brands That Matter list for 2024 The Fast Company annually makes a list recognizing brands that foster meaningful connections with customers through innovative strategies and impact.The 2024 list mentions 121 brands and 10 CMOs that inspire genuine engagement and loyalty from their consumers….Read more>>
Ethiopian Airlines Partners with DRC to Launch Air Congo
FTN News
Ethiopin Airlines,Africa’s largest aviation group, has joined forces with the Democratic Republic of the Congo (DRC) government to launch a new national carrier, Air Congo.The DRC government holds a 51% majority stake, while Ethiopian Airlines owns 49% and will oversee the airline’s operations….Read more>>
U.S.-AFRICA RELATIONS
U.S. Engagement with Africa Under Trump
VOA Africa
In this edition of Straight talk Africa host Vincent Makori is discusses how the new U.S. administration under President Donald Trump will engage with Africa. He is joined by Ambassador Rama Yade, Atlantic Council’s Africa Center senior director and by Ambassador Tibor Nagy former U.S. assistant secretary of state for African Affairs during the first Trump administration…Read more>>
Strengthening Trade and Investment Through Climate Finance in Africa
DAI
This year is on course to be the world’s warmest on record. With regions like the Sahel experiencing unprecedented heatwaves, temperatures in many African countries have reached nearly 40?. While these conditions underscore the urgency of addressing climate change, they also highlight an opportunity for promoting growth and resilience…Read more>>
Outsourced CFO Commits To Strengthening U.S.-South Africa Ties Through Atlanta Phambili Initiative
EIN Presswire
The spirit of collaboration and economic partnership between South Africa and the United States took centre stage this week as the Atlanta Phambili delegation, led by Atlanta Mayor Andre Dickens, concluded an inspiring and impactful visit to Cape Town. This milestone initiative fosters deeper connections between the two regions, paving the way for enhanced trade, investment, and cultural exchange…Read more>>
ENERGY
Ignite Power Secures $15M Investment to Transform West Africa’s Solar Energy Landscape
IT News Africa
Ignite Power has secured $15 million in senior debt financing from Afrigreen Debt Impact Fund (“AFRIGREEN”), a leading renewable energy investor focused on Africa, for its subsidiary Westa Solar, which specializes in commercial and industrial (C&I) solar energy. This substantial investment will fuel Ignite’s ambitious expansion plans, targeting vast, underserved market segments across West Africa by offering innovative and flexible financing solutions to businesses. The investment begins with an initial tranche of $4 million, followed by a $11 million disbursement contingent on the deployment of the first phase and confirmation of the parties’ mutual intent. This agreement will drive the company’s mission to accelerate the adoption of solar energy in the region, starting with a focus on Nigeria….Read more>>
AfDB Invests $30M in AFC to Boost Africa’s Green Energy Future
Tech In Africa
The African Development Bank’s Board of Directors has approved a $30 million equity investment in the Africa Finance Corporation (AFC) to support climate action projects across the African continent. According to a statement from the parties involved, the funds will be directed toward the development of solar power plants, energy storage systems, and other green initiatives. This equity investment is tied to the rollout of AFC’s groundbreaking “green shares” program. Through this initiative, innovative financial instruments will help unlock substantial funding for impactful projects such as wind and solar power plants in Djibouti and Egypt, as well as energy storage systems in Cabo Verde….Read more>>
Global Partners Invest $45 Million to Boost African Vaccine Production
African Development Bank
In significant efforts to strengthen public health and improve vaccine access in Africa, the U.S. International Development Finance Corporation, the African Development Bank, and the International Finance Corporation (IFC) have jointly announced a $45 million financing package for VaxSen, a subsidiary of Senegal’s Institut Pasteur de Dakar (IPD).The financing agreement, signed on December 13, 2024, in the presence of Senegalese President Bassirou Diomaye Faye in Dakar, underscores Senegal’s leadership in advancing shared public health objectives. This investment will enhance vaccine production capacity, support local supply chains, and establish a robust network for vaccine distribution in alignment with the African Union’s Vision 2040, which seeks to produce 60% of the continent’s vaccine needs locally…..Read more>>
Establishing vaccine safety benchmarking in Africa for African vaccines
CEPI
A research consortium is set to further establish a vaccine safety evidence-generation network in Africa, seeking to understand the general prevalence of anticipated adverse events specifically relevant to African populations.CEPI is providing up to US$9.9 million for the Background Rates of Adverse Events for Vaccine Evaluation in Africa project led by the Global Vaccine Data Network (GVDN)—based at Auckland UniServices Limited in the University of Auckland—in partnership with the University of the Witwatersrand in South Africa, Navrongo Health Research Center in Ghana, International Foundation Against Infectious Diseases in Nigeria, Eagle Research Center in Rwanda, and Health Research Operations Kenya (operating as KEMRI-Wellcome Trust Research Programme) in Kenya. CEPI funds will support local researchers across these research sites to understand incidence rates of naturally occurring clinical events, such as Guillain-Barré Syndrome, sensorineural hearing loss, and others, that typically occur in African populations (i.e., without any medical interventions)….Read more>>
Five African countries launch $90 m project to cut hazardous chemicals from plastics
CSR Egypt
The Governments of Kenya, Nigeria, South Africa, Uganda and Zimbabwe have launched a $90-million project to reduce the releases of hazardous chemicals from plastics in a sector-based approach covering the automotive, electronics, and construction industries.Hazardous chemicals, including Persistent Organic Pollutants (POPs), are used in an array of different plastic products to enhance their properties. POPs remain intact for decades, accumulate in the environment, and are released throughout the lifecycle of these plastics, harming human health, the environment and the economy. Their presence in plastics also limits circularity, as POPs-contaminated materials cannot be safely reused, recycled or reintroduced in the value chain….Read more>>
Rwanda on track to meet global malaria reduction targets by 2025
New Times Rwanda
Rwanda is on course to achieve the World Health Organisation’s (WHO) Global Technical Strategy target of a 75 per cent reduction in malaria incidence by 2025, according to the 2024 World Malaria Report.The Global Technical Strategy for Malaria 2016–2030 outlines a roadmap to accelerate efforts toward malaria elimination. It aims to reduce global malaria incidence and mortality by 90 per cent by 2030, with short-term milestones set for 2020 and 2025.Dr. Aimable Mbituyumuremyi, Head of the Malaria and Other Parasitic Diseases Division at the Rwanda Biomedical Centre, stressed Rwanda’s alignment with these global goals…Read more>>
INFRASTRUCTURE
Three BESS systems to enhance South Africa’s power infrastructure
African Review
Envision Energy, a leader in renewable energy solutions, has signed a contract with the EDF Group, a multinational electric utility company, in order to supply three battery energy storage systems (BESS) for the Oasis 1 cluster of projects in South AfricaReported to be integral to the country’s inaugural Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP), the projects will amount to 257MW of capacity and 1,028MWh of storage, making it the largest BESS order in the country….Read more>>
AGRIBUSINESS
UNDP Donates 16 Yamaha Motorbikes to Boost Liberia’s Agricultural Sector
Global News Network Liberia
The United Nations Development Programme (UNDP) has strengthened its commitment to transforming Liberia’s agricultural sector with the donation of 16 Yamaha motorbikes and 32 helmets to the Ministry of Agriculture (MOA). The handover ceremony took place on Tuesday, December 17, 2024, at the Ellen Johnson Sirleaf Ministerial Complex in Congo Town.Speaking at the event, Mr. Louis Kuukpen, UNDP Resident Representative for Programme, described the donation as part of the ongoing Accelerated Community Development Programme (ACDP), an initiative launched in 2022 by the Liberian Government. Co-funded by the Government of Liberia and UNDP the ACDP addresses pressing needs in rural communities, focusing on agriculture, health and education….Read more>>
ICT
New tech requires rulebook revamp, says S.Africa’s communications regulator
Reuters
South Africa’s information and communications technology sector needs policy and regulatory changes to keep up with emerging technologies, the chair of the country’s communications regulator told Reuters.
Technological advances such as satellite internet and artificial intelligence are forcing governments and regulators worldwide to revamp their oversight of the industry…Read more>>
African Development Bank’s Sustainable Energy Fund for Africa Invests $10 Million to Supercharge Climate Tech Innovation in Sub-Saharan Africa
African Development Bank Group
The African Development Bank has announced a $10 million investment from its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund) to propel climate technology entrepreneurship across Sub-Saharan Africa. This catalytic investment aims to unlock $70 million in funding for African climate-focused ventures…Read more>>
FINANCE
Ethiopia passes law to open banking to foreign competition
Reuters
Ethiopia’s parliament passed long-planned legislation on Tuesday allowing foreign banks to operate in the Horn of Africa country, part of government efforts to attract more overseas investment.
The country has been gradually opening up its tightly controlled economy, which is one of Sub-Saharan Africa’s biggest, since Prime Minister Abiy Ahmed took over in 2018…Read more>>
