News Update: 3D printer revolutionizing construction, Elon Musk's satellite internet in Kenya and more
Industry and investment news
Hi Exseeders,
welcome to our weekly update on industry and investment news in Sub-Saharan African economies. Our focus? All things related to SMEs in the 9 priority areas identified by the African Union to combat climate change.
😍 Investment news we love:
President Biden pledged to go “all in” deepening the US’ engagement with Africa laying out $55bn in projects over the next 3 years (green energy, health workers, internet network modernization, etc.).
AfDB invests $20mn in Pembani Remgro Infrastructure Fund II allowing the fund to raise up to $400mn from other investors. The fund’s investment focus will be on priority areas such as energy transition, logistics and transport, etc. in sub-Saharan Africa.
Herzog, VP Harris announce $70mn agriculture tech fund for Middle East and Africa focusing on water resources and “climate-smart” agtech.
👎 Why we need to keep pushing:
Africa accounted only for ~0.2% ($4.7bn) of cumulative green bonds’ issuance estimated at $2.2 trillion globally between 2006 and 2022, despite green investment opportunities in agriculture, energy, ICT and transport
News of the week:
🥑 Agriculture/ Food systems:
Senegal: Scientists in Senegal have developed an AI tool called Africa Agriculture Watch (AAgWa) that utilizes satellite data and historical production maps to predict growing conditions for farmers in Africa increasing food production and reducing losses.
🌳 Ecosystems
Tanzania: With the adoption of regulations on carbon trading, companies and investors committed over $20bn in investments in the carbon offset market (e.g., tree planting programs, reserve forests, etc.).
💡 Energy and infrastructure
Market potential: Thanks to vast renewable energy resources, Africa has the potential to generate more than 1 000 GW of renewable energy and 5 000 megatonnes of green hydrogen per year at less than $2/kg. Striking a balance between exports and local industrialization will be crucial.
🌆 Urban areas
14Trees launched its 3D printer “Iroko” designed for use in Africa to build two-storey residential and commercial buildings. It works with low-carbon "inks” reducing a building’s carbon footprint by up to 70%.
Source: 14Trees
💧 Water systems
Rwanda: $101mn loan for the Rwanda Sustainable and Resilient Water and Sanitation Program, aiming to improve water and sanitation governance and access to basic services for over 13.2 million people in Rwanda.
💻 Digital transformation
Kenya: Starlink (by Elcon Musk’s SpaceX) launched high-speed satellite internet in Kenya at mid-range prices competing with regional competitors.
Kenya: With Tappi’s chat tool SMEs can build an online presence within minutes making them visible and creating direct connections with customers.
Mobile network: Adoption of 5G will help Africa realize $26bn by 2030. With 650mn unique mobile users, the potential is vast for digitalization and the creation of remote jobs.
Payments: Brij Technologies, Inc. introduced PayBills.Africa - a platform that enables seamless global connections between African merchants and customers, allowing bill settlements from anywhere in the world through its web or mobile app with bank-grade security.
Do you have feedback for us? Please let us know!
Best,
Carolin
for the Exseede Team