January 30 2023

Africa in Review by the Numbers (January 2023)

Review by Kili Partners. Powered by Asoko Insight

$7.5 billion
The total amount Nigeria is likely to spend on petrol subsidy by mid-2023. This represents an increase of 6.4% compared to the $7 billion spent between January and September 2022.

Farmers in Zimbabwe have been contracted to cotton under a new scheme which distributed 5100 tonnes of seed and 24,000 tonnes of fertliser to boost local production.
(The Herald)

148 MW
Solar power plant launched by Voltari in South Africa. The 20-year contract in partnership with Richards Bay Minerals will supply approximately 300 GWh of renewable energy each year to South Africa's largest mineral sands producer's facility in KwaZulu-Natal.
(Africa Business Communities)

$30 billion
Investment announced by Sonatrech in exploration and production activities over the next five years. The Algerian oil company plans to invest more than $7 billion of this total in refining, petrochemical and and gas liquefaction projects.
(Arabian Gulf Business Insight)

Farmers to be recruited for a rice project in Zambia that will supply them with inputs and links to available market to sell their produce. By 2025, the Market Oriented Rice Development Project aims to empower 12,700 farmers.
(Lusaka Times)

950 hectares
Land obtained by Mozambique's energy company Ncondezi Energy for the implementation of its 300-MWp solar power project. Based in the western province of Tete, the plant set to be the country's largest solar facility.

$3.5 billion
Approved for the construction of oil pipeline in Uganda to transport the country's crude to international markets. The construction will be overseen by a company controlled by TotalEnergies.

Households in Madagascar to get access to power through a $20.6 million project by off-grid solar company WeLight. The project is targeting 90% of rural population without access to power.
(Business Live)

Cows have been imported by Cameroon from France to boost milk production in the country. This initiative aims to to provide national producers with high-performance breeding stock.
(Food Business Africa)

$65 billion
Annual financing required by African farmers to produce enough food to curb imports and cushion their economies from external shocks. With the right investment and removal of barriers, of which access to finance is key, the AfDB, expects Africa’s food and agriculture market value could rise from $280 billion to $1 trillion a year by 2030.
(Business Mirror)

Small-scale shop owners in Kenya to benefit from partnership between digital insurance platform mTek, Kyosk.app and Fin Africa to provide coverage in the informal sector. This partnership aims to expand insurance penetration, which currently stands at just over 2% given the large informal market.
(Africa Business Communities)

Increase in production by Renault Group's Tangier and Casablanca plants in 2022, bringing the total number of vehicles to 35,000. Renault cars produced in Morocco are largely slated for export, with 70% shipped abroad.
(Morocco World News)