In a groundbreaking collaboration, the African Development Bank (AfDB) and PowerGen Renewable Energy have joined forces with prominent international investors to launch a scalable renewable energy platform in Africa. The initiative aims to deploy 120 megawatts (MW) of renewable power across underserved regions in Africa, integrating advanced battery energy storage solutions. This platform seeks to […]

PowerGen Renewable Energy (PowerGen), a pioneer in decentralized renewable energy solutions, has unveiled a transformative partnership with leading international investors to create a scalable renewable energy platform. This ambitious project aims to deploy 120 MW of renewable energy, integrated with advanced battery storage systems, across underserved regions in Africa. Initial focus areas include Nigeria, Sierra […]

The 10th of Ramadan Investors Association, a leading body representing key industrial stakeholders in Egypt, has initiated a strategic dialogue with the Commercial International Bank (CIB) to explore opportunities for enhancing Egyptian exports to African markets. The discussions aim to leverage CIB’s financial expertise and expansive African footprint to unlock new trade opportunities and strengthen […]

Overview of the Tender Brait, a prominent South African investment firm, has once again faced challenges in its attempt to reduce its convertible bond (CB) liabilities. The company aimed to repurchase R400 million of its outstanding R3 billion CBs, but investors tendered only R99 million worth of bonds. The bonds, which mature in December 2027, […]

Kenya’s commercial banks have demonstrated remarkable resilience in a challenging economic environment, recording an 11.58% increase in pre-tax profits for the first eight months of 2024. Profits rose to $1.22 billion from $1.09 billion in the same period last year, according to data from the Central Bank of Kenya (CBK). This growth comes despite a […]

Ethiopia is set to inaugurate its new stock exchange this Friday, marking a historic milestone after more than five decades without a bourse. This development is part of the government’s broader strategy to attract investors and stimulate an economy recovering from the dual challenges of a devastating civil war and persistent regional instability. Ethiopia’s economic […]

The Forum on China-Africa Cooperation (FOCAC) continues to strengthen the enduring ties between China and African nations, charting an ambitious path for mutual growth and development. During a visit to Brazzaville, the capital of the Republic of Congo, Chinese Foreign Minister Wang Yi underscored China’s commitment to “burnishing the credentials” of FOCAC, outlining a comprehensive […]

Cassava Technologies, a leading digital infrastructure and services provider in Africa, has announced the successful closure of a $90 million equity investment. The funding round saw participation from notable investors, including the U.S. International Development Finance Corporation (DFC), the Finnish Fund for Industrial Cooperation (FinnFund), and tech giant Google. This strategic investment is part of […]

South Africa’s new tax incentives aimed at fostering electric vehicle (EV) and hydrogen-powered vehicle production have sparked interest among Chinese automakers, positioning the country as a potential hub for green automotive innovation. Meanwhile, China’s proposed export controls on EV battery technologies signal a strategic maneuver that could reshape global supply chains in the burgeoning EV […]

The Africa Investment Forum 2024 Market Days marked a pivotal moment in the deepening relationship between Japan and Africa. Held from December 8 to 10, the event brought together leaders, investors, and innovators to discuss strategies for driving Africa’s agricultural and energy transformation. Central to the discussions was the role of Japanese technology and innovation, […]