New cashew variety "drops" nuts before the heat season, enhancing yield
Industry and Investment News
Hi all,
it’s time again for our investment and industry news roundup covering Sub-Saharan Africa.
The highlights this week:
🚌⚡🏍️ Advancing the electrification of Rwanda's and Kenya's public transport with more e-buses and electric motorcycles
🌰🌿🔆 Creation of a new cashew variety enhancing yield by shedding nuts prior to heat season
🚫🛍️🌱 Kenya implements ban on plastic bags for organic waste collection to combat plastic pollution
Let’s dive in!
😍 Investment news we love:
SME Financing
Standard Bank's injection of a R2 billion loan has empowered over 2,000 small businesses across South Africa to invest in generator and solar power solutions.
The African Development Fund has approved a partial credit guarantee to support Rwanda's financing of green and social initiatives, enabling the country to raise up to €200 million from international commercial banks.
British International Investment has partnered with Citi to sign a $100 million risk-sharing facility aimed at supporting the trade finance needs of African SMEs and corporates.
The Africa Enterprise Challenge Fund (AECF) has introduced a €12.5 million initiative, the Sudan SME Catalyser, to support SMEs in Sudan amid conflict.
Venture capital
TLcom Capital closes second fund at $154M to back early-stage startups across Africa, positioning the firm as Africa’s largest investor across seed and Series A
Orange, the EU and GIZ invest €7.6m in agritech start-ups in Ivory Coast to support sustainable cocoa production and combat deforestation
👎 Why we need to keep pushing:
African Development Bank Group President Dr. Akinwumi A. Adesina stressed the urgent need for heightened financing to bridge the annual $4 trillion gap and meet the Sustainable Development Goals (SDGs) by 2030.
What's worth knowing in:
🥑 Agriculture/ Food systems:
Ghana: The Cocoa Research Institute and the Ministry of Food Agriculture have developed a new cashew variety that drops its nuts early before the heat season.
Better Cotton, funded by the African Export-Import Bank, is collaborating with the WTO and FIFA to scale sustainable cotton production in West and Central Africa.
🌳 Ecosystems
Kenya: Kenya has intensified its fight against plastic pollution by banning the use of plastic bags for organic waste collection.
The Great Green Wall project aims to restore degraded land, combat desertification caused by deforestation and drought, spanning nearly two dozen African countries with a budget estimated between $36 to 49 billion.
💡 Energy and infrastructure
Floating solar can power Africa’s energy goals, study finds
Ghana: Anansi Green Energy to deliver green electricity to Ghanaians through a new renewable energy platform
Zambia: President Hakainde Hichilema inaugurated the Itimpi photovoltaic solar power plant, a 60 MWp facility marking a significant step towards addressing the country's urgent need for power diversification.
Malawi: Partnership between Green Impact Technologies (GIT) and Amped Innovation aims to deploy 15,000 solar home systems in rural Malawi, providing electricity access to at least 70,000 households by June 2024.
🚕 Mobility and transport systems
Tanzania: New electric train, connecting Dar es Salaam to Dodoma with plans for further expansion, has garnered attention for its modern infrastructure, including Wi-Fi connectivity and speeds of up to 160 km/h.
Rwanda: IZI Rwanda, a mobility solutions platform, begins the electrification of Kigali's buses with the acquisition of five electric buses.
Kenya: Roam and County Bus Service have partnered to deploy 200 electric buses in Kenya by 2026.
Kenya: Bolt has partnered with M-KOPA to introduce an electric motorcycle fleet in Kenya, aiming to deploy 5,000 electric motorbikes within three years.
🏭 Industrialisation
Zimbabwe: Voluntary Carbon Credits Market Forum, through its Mvelo brand, is actively engaging investors to secure $1 million to build a plastic recycling plant and produce climate-smart construction products
Ethiopia: Kubik, specializing in recycling plastic waste into eco-friendly building materials, has secured $1.9 million in a seed extension round.
🌆 Urban areas
South Africa: Newinbosch Neighbourhood Estate in Stellenbosch has achieved a Six Star Green Star Sustainable Precincts rating, marking the first such rating in Africa.
The IFC is partnering with Novare Equity Partners to decarbonize real estate properties in Zambia, Mozambique, and Nigeria, marking the first collaboration under the Greening Real Estate Investment Portfolios (GRIP) program.
💻 Digital transformation
South Africa: MTN Group, in collaboration with Huawei Technologies, has established a Technology Innovation Lab aiming to drive digital transformation and sustainable development across Africa.
Gambia: The Ministry of Communication and Digital Economy has initiated a US$50 million regional digital transformation initiative.
Kenya: Matta is revolutionizing African trade by streamlining the supply chain for chemicals, raw materials, ingredients, and commodities across the continent.
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Thanks for reading,
Carolin