Africa is charging towards more prominent role in battery and electric vehicle manufacturing
Industry and Investment News
Hi all,
it’s time again for our investment and industry news roundup covering Sub-Saharan Africa.
Our highlights this time:
🔋⛏️ Strategic partnerships and increasing mining operations are gradually positioning Africa as a pivotal player in the world’s battery supply ecosystem
💰💰 Significant portion of 2023 investments in African start-ups - over 30% - have been channeled into climate tech
💨☀️ Several exciting renewable energy developments, from the construction start of South Africa’s largest wind farm to a new solar farm, which will augment the renewable energy supply of Africa’s largest gold mine to 85%
Read on to learn more.
Investor news
😍 Good News:
Kenya plans to raise Sh9trn (around 55bn USD) from green bonds
The AfDB joins an international coalition on green bonds, which are becoming more important for supporting ecological investments
Climate tech startups received a third of all funding invested into African start-ups in 2023
AfriLabs launches Connect Deal Room to boost local investment landscape
👎 Challenges:
Vulnerable countries need debt relief 'now or never', new report warns
Total investment into the African tech startup ecosystem fell by 27.8 per cent to US$2.4 billion in 2023
Industry News
🥑 Agriculture/ Food systems:
Kenya: Apollo Agriculture secures $10 million to service 400,000 more small-scale African farmers
Industry News: The revival of old crops is key to saving Africa’s degraded soils to be able to meet its demand for food
🌳 Ecosystems
Industry News: New regional African alliance launches to promote carbon markets
Namibia: Windhoek’s Zero Waste Store promotes sustainable shopping experience and aims to eradicate packaging and food waste
Tanzania: Tanzania is in the process of registering $1 billion worth in carbon trade projects to boost national revenue
💡 Energy and infrastructure
Industry News: Emerging Trends in Africa’s Solar Energy - Start-Ups, Investment, and Growth
Ivory Coast: Agreement reached with infrastructure investor PFO Africa to built 52MW solar plant - the country’s largest to date.
Nigeria: CET Power Projects is undergoing a transformation, emerging as a frontrunner in innovative solutions in renewable power generation, transmission and distribution.
DRC: Africa’s largest Gold Mine will boost its renewable energy supply to 85% by end of 2024 leveraging hydro and solar power
Namibia: Sustainable Power Solutions is pioneering Namibia's energy sector with a N$200 million, 10MW solar plant project, introducing a novel wheeling model to supply clean energy directly to various customers.
Namibia: Namibia’s Progressive Leap Towards a Green Hydrogen Economy
South Africa: Renewables platform, Lyra Energy, aims to transform South Africa's energy sector by providing medium-sized and large commercial and industrial entities with distributed, affordable, and predictable utility-scale renewable energy.
South Africa: Seriti Resources Starts Construction on South Africa’s Largest Wind Farm
🚕 Mobility and transport systems
South Africa: BHBW announces partnership with Motrec International to become distributor of electric utility vehicles
Togo: Clean energy powers a silent revolution on Togo’s roads with the deployment of electric two-and three-wheelers
Rwanda: China’s e-mobility player Build Your Dream is entering East Africa with a Rwanda dealership
Ethiopia: Ethiopia bans non-electric car imports
South Africa: Zero Carbon Charge signs R1bn deal to bring EV superchargers to South Africa
Ghana: E-bike startup Kofa, which is pioneering Africa’s first multi-use, swappable battery network, has announced the planned launch of its second-generation Kore 2 Swap & Go network.
🏭 Industrialisation
South Africa: ReElement Technologies partners with Afrivolt to develop Africa’s lithium-ion battery supply chain forming a closed-loop battery and electric vehicle manufacturing ecosystem within Africa.
Industry News: Africa’s battery manufacturing activity is charging ahead
Zimbabwe: Zimbabwe looks to China to secure a place in the EV battery supply chain with the export of lithium
💧 Water systems
Namibia: Chinese group CCECC wins $30m contract for water treatment plant in Namibia
💻 Digital transformation
Industry News: Google and Oracle ramp up cloud in Africa to tap fast-growing e-Conomy
Nigeria: Miden, a fintech that allows businesses to issue virtual cards through its API, has been selected for Y Combinator’s winter 2024 batch
South Africa: Absa introduces ChatWallet for WhatsApp Banking in South Africa
South Africa: Microsoft to build new high-tech data centre in South Africa
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Thanks for reading,
Carolin