August 1 2022

Africa in Review by the Numbers (July 2022)

Review by Kili Partners . Powered by Asoko Insight

$60 million 
Financial package has been signed by the African Development Bank (AfDB) comprising $50 million subordinated debt to support CRDB Bank’s regional expansion efforts and a senior loan of $10 million to accelerate access to finance for small businesses managed and owned by women in Tanzania.
(Africa Business Communities)

1 million
Barrels of oil are reportedly being produced in Libya daily, boosting the North African country's production after output had halved since April. The boosted production levels result from reopened fields and export terminals that were largely shut since the spring.
(Oil and Gas 360)

Increase in revenues from Uganda's coffee exports for the 12 months which ended in June 2022. The exports amounted to 6.3 million 60-kilo bags worth $862.28 million compared to 6.1 million 60-kilo bags valued at $ 559.16 million the previous year.
(Food Business Africa)

$750 million 
Loan from Afreximbank approved by Ghanaian lawmakers as part of a $1 billion credit target to finance the national budget. The country expects to get the remaining $250 million from other international lenders.
(Business Insider Africa)

Solar kits to be distributed in Mozambique as part of a project to achieve universal access to electricity by 2030. The Netherlands Development Organisation (SNV) signed an agreement with electricity provider Ignite Power to provide solar home systems to areas not served by the national grid.
(Afrik 21)

Jump in the cost of Nigeria's petrol subsidy should it remain in place next year, for a total state expenditure of up to $16.2 billion. Africa's largest oil producer imports refined products because of a lack of domestic refining capacity.

$459.8 million
Sale announced by Diageo for its Cameroonian Guinness unit to Castel Group. The London-based brewer said the sale would enable expanded brewing and distribution capacity, having outgrown its existing operations in the country.
(Business Insider Africa)

Stake sold by Airtel Africa in its local mobile money business, Airtel Money, in a deal that values the mobile money provider at $2.1 billion. The sale is part of a continent-wide deal that has seen Airtel raise $550 million from four institutional investors.
(CEO Business Africa)

100 MWp
Solar PV plant to be built in Chimuara, Mozambique by Solarcentury Africa, its second in the country. The project will be implemented in several phases, the first of which will have a capacity of 30 MWp.
(Africa Energy Portal)

$1.3 billion
Funding rolled out by European Union to help Nigeria to diversify its economy away from oil. The funding will be provided until 2027 under the EU's Green Deal initiative and will, among other things, focus on enhancing access to renewable energy and boosting the development of the agricultural sector.
(CNBC Africa)

People in Democratic Republic of Congo to benefit from the new mini-grid model launched by Bboxx in partnership with telecommunications operator Orange. The mini-grid project will help accelerate the provision of clean energy access for households across the country.
(ESI Africa)

Hectares of land has been set aside in Tanzania for wheat cultivation aimed at ending the shortage in the country. The Ministry of Agriculture has also committed to spending $66.5 million on research and development to enhance crop production, including supplying improved seed to smallholders.
(Food Business Africa)

$2 billion
Debt guaranteed by the UK government to help the AfDB to free up finance for climate-related projects. The additional lending capacity will be used to fund projects for climate resilience and renewable energy within the region.

10 million tonnes
Volume of wheat to be imported by Egypt within the next six months to boost local consumption and remaining reserves. In addition, the World Bank approved a loan worth $500 million to boost food security in the country.
(The Africa Report)

Rise in palm kernel oil production expected in Nigeria in 2022/23, bringing output to 440,000 metric tons (MT), up from the previous period's 393,000 MT. The oil extraction rate is also expected to improve, due to private sector investors improving operation efficiency by upgrading to more modern crushing and extraction equipment and machinery.
(Food Business Africa)

Review by Kili Partners . Powered by Asoko Insight