A foreign war has exposed Africa’s chronic dependence on food imports and galvanized action to address the nexus between conflict, food insecurity and climate change, write Patrick Verkooijen, Anne Beathe Tvinnereim and Akinwumi Adesina.  The victims of war are sometimes found far away from the battlefield. And so it is with Russia’s brutal invasion of Ukraine. For while the fighting...

African Development Bank Group President Dr Akinwumi Adesina has assured South Africa of the Bank’s strong support as the country transitions from fossil fuel to renewable energy. Adesina told Minister for Mineral Resources and Energy, Gwede Mantashe, that the Bank was in the process of setting up an African Energy Transition Facility to help South Africa secure adequate financing for its...

Moroccan private investment fund Al Mada recently announced the launch of Evergreen, "the largest venture capital fund fully owned by Africans." The MAD1.1 billion (US$100 million) investment vehicle aims to finance high-potential start-ups with innovative projects in the financial, health, logistics, education, and renewable energy sectors. Its funds will primarily come from Moroccan...

Airtel Africa is pursuing its asset monetization program launched in early 2021. The telecom company, which has already ceded part of Airtel Money and its telecommunication towers in Madagascar, is now selling assets in Malawi. It is expected to do the same in other African markets. Airtel Africa, the African arm of Indian telecom group Bharti Airtel, finalized the sale of Malawi Towers Limited,...

From March to December 2021, Bolloré Logistics Malawi implemented the transportation for the Golomoti Solar project, by conveying an all-inclusive shipment of 221 TEUS of solar panels, batteries and equipment from China to Malawi. Relying on its expertise in this field, Bolloré Logistics was able to be part of a historic project, in producing the first solar utility-scale grid-connected...

In early March, Guinean authorities ordered the cessation of development operations at the Simandou deposit, which has a 100 million tons per annum iron ore production capacity. The official reason was that public authorities wanted to preserve the public interest.  Guinea's transitional government announced last weekend a historic framework agreement with the two firms developing the...

Pan-African internet service provider Paratus Group announced on Wednesday, March 23, the addition of the DRC to its terrestrial network and its expansion into that country. The announcement comes after Fast-Congo, a company created by Paratus and GBS, signed a 15-year leasing agreement with the Congolese government to activate, operate and maintain the Kinshasa-Muanda fiber network owned by...

Norwegian Investment Fund for developing countries (Norfund) and private equity fund Zebu Investment Partners jointly invested in Terramar, a Mozambican company engaged in the importation and distribution of frozen foods and consumer products.  Norfund took a $6 million stake but Zebu committed $12 million through its second Africa Food Security Fund, which targets SMEs in the...

Currently, 99% of the vaccines used in Africa are imported, according to the World Bank.  African leaders are moving to reduce that proportion by a minimum of 60% over the next 20 years. In that regard, they are turning to partners to set up vaccine factories. The Pasteur Institute of Dakar (IPD) and the African Finance Corporation (IFC) will partner for the construction of a vaccine...

Like most African countries, the generalized rise in the prices of several basic commodities in recent months poses many challenges. To deal with this situation, the authorities are stepping up interventions on the domestic market.   The Beninese government decided, during its March 23 ministerial council, to exempt wheat flour and vegetable oils from value-added tax (VAT) for the next...