Africa's first End-to-End Rapid Diagnostic Testing Kit manufacturing facility inaugurated
Industry and Investment News
Hi all,
it’s time again for our investment and industry news roundup covering Sub-Saharan Africa.
Our highlights this week:
Kenya's Revital Health Care inaugurated Africa's first End-to-End Rapid Diagnostic Testing Kit Manufacturing facility, potentially revolutionizing diagnostic capabilities across the continent.
Sierra Leone's implementation of clean and reliable solar power installations in major hospitals underscores the critical role of sustainable energy in improving healthcare delivery and ensuring uninterrupted medical services
Tanzania's partnership between Cisco Systems and the ConSenso Project demonstrates the innovative use of IoT technology to support coffee growers amidst climate change challenges
Keep reading to learn more!
😍 Investment news we love:
The ECOWAS Bank has pledged $200 million to support Ghana's economy
DBG and Proxtera are teaming up to provide $100 million in loans to Ghanaian SMEs through a digital platform
BII and NDF are investing $29.5 million in climate insurance technologies through the second InsuResilience Investment Fund (IIF II).
Vitol and Vivo Energy are investing over $550 million in clean cooking technologies in Africa by 2030. This investment includes LPG infrastructure and clean cooking carbon projects.
The Summit on Clean Cooking in Africa secured pledges of USD 2.2 billion to address the lack of clean cooking access for over 1 billion people in Africa.
Accion, a non-profit organization focused on creating an inclusive economy, has launched the Accion Digital Transformation Fund with $152.5 million.
What's worth knowing in:
🥑 Agriculture/ Food systems:
Tanzania: Cisco Systems, Inc. partners with the ConSenso Project to use IoT technology in aiding Tanzanian coffee growers amidst climate change challenges.
Kenya: Renew Capital has invested in Farm to Feed, a Kenyan agri-tech startup aiming to combat food waste by repurposing surplus agricultural products.
🌳 Ecosystems
Kenya: EcoSafi makes history by issuing the first carbon credits in Africa using the Gold Standard MECD methodology for clean cooking. This achievement sets a new standard for trust and verifiability in the region's clean cooking carbon markets.
💡 Energy and infrastructure
Sierra Leone: Six major hospitals in Sierra Leone now benefit from clean and reliable solar power installations ensuring uninterrupted medical services and improving healthcare delivery, thanks to Sustainable Energy for All's project.
Gambia: The Gambia is undergoing a significant energy evolution, transitioning from solar power to green hydrogen as part of its renewable energy strategy.
Djibouti: Djibouti aims to achieve 100% renewable energy by 2035, starting with the inauguration of its first wind farm in September 2023.
🚕 Mobility and transport systems
Namibia: Cleanergy is set to develop Africa's first hydrogen-powered ship. Namport's Port of Walvis Bay in Namibia will host the project, with insights provided by Namport to refine the vessel's specifications.
Zambia: Zambia is poised to start local manufacturing of car batteries in July, marking a significant development at the Zambia JianXi Multi-Facility Economic Zone in Chibombo district.
🏭 Industrialisation
Kenya: Revital Health Care, has unveiled Africa's first End-to-End Rapid Diagnostic Testing Kit Manufacturing facility with the capacity to supply 240 million test kits annually.
South Africa: Ener-G-Africa has inaugurated a factory in Paarl producing advanced clean-burning, fuel-efficient stoves and cookware for local and African markets.
Nigeria: Pres. Bola Tinubu has lauded the inauguration of the country's largest lithium processing plant in Lafia, Nasarawa State, emphasizing the country's potential as Africa's hub for solar panel and EV battery manufacturing.
🌆 Urban areas
Ethiopia: Kubik, specializing in converting hard-to-recycle plastic waste into affordable, low-carbon building materials, plans a pan-African expansion following a $5.2 million seed funding round.
Nigeria: LMI Holdings' Mega Warehouse has achieved the IFC’s EDGE Green Building Certification, marking it as the first warehouse in the country to receive such recognition.
South Africa: Novare Equity Partners has become the first African company to collaborate with the IFC on its Greening Real Estate Investment Portfolios programme, aimed at decarbonising properties.
💧 Water systems
South Africa: Interwaste, a local waste management company in South Africa, has launched a R100-million leachate and effluent treatment plant recovering more than 80% of reusable water from liquid waste streams in Delmas, Mpumalanga.
💻 Digital transformation
Rwanda: Rwanda plans to implement technology to monitor changes in land use, aiming to address issues like encroachment on agricultural land and ensure efficient utilization of resources.
Nigeria: Exclusive Networks, a global cybersecurity specialist, has opened its West African office in Lagos, Nigeria, aiming to generate employment opportunities and enhance the country's technology sector.
South Africa: Ubuntu Education connects African teachers through its platform facilitating networking, collaboration, and access to professional development opportunities.
Ghana: Kola Market aims to support SMEs by providing smart inventory management and product financing through machine learning. Kola Market's platform helps businesses stock efficiently, ensuring consistent sales and facilitating growth.
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Thanks for reading,
Carolin