June 29 2022

Africa in Review by the Numbers (June 2022)

Review by Kili Partners . Powered by Asoko Insight

$300 million
Fund launched by infrastructure investor Harith General Partners, and power company Anergi Group to accelerate the adoption of renewable energy across Africa.

Films and television shows to be produced by Nigeria's LaVida Studios under a 3-year deal with Dentsu’s The Story Lab US. PAC Capital Limited has committed the initial $50 million  to bring African stories to the global stage.

Increase in the value of Uganda's coffee exports in May 2022 despite a 7.75% drop in volumes. The monthly rise is part of a year-long trend, which saw exports bring in $837 million in May 2021-June 2022, 55% more than the year before.
(Food Business Africa)

$26.1 billion
Pledges made in support of Ivory Coast's 2021-25 development plan by by multilateral and bilateral lenders including the West Africa Development Bank, AfDB, the World Bank and the Islamic Development Bank. The plan will require $94.74 billion, with $70.09 billion to be provided by the private sector.

Locations across Nigeria said to be endowed with commercial-quality minerals that could boost the country's economy through revenue growth and job creation. The resources comprise 44 different minerals that cut across various mineral spectrums.
(The Guardian)

First-quarter results of Ghana's new Logistics Managers Index (LMI), a score which is indicative of growing logistics activities in the country. Developed by the Center for Applied Research and Innovation in Supply Chain – Africa (CARISA) to track the movement of logistics activities, the index aims to fill the data gap in the sector.
(Joy Online)

31 million tonnes 
Gold ore discovered in Uganda, with extractable pure gold estimated to gross 32,000 tonnes. These reserves are valued at some $12 trillion, according to the government. If these estimates are accurate, it would suggest the new gold find would topple the expected windfall from oil still in the ground in the Albertine region.
(The Citizen)

$15.6 billion 
Cost of planned highway connecting Nigeria and Ivory Coast via Benin, Togo, and Ghana. The 1000-km highway funded by African Development Bank is expected to boost the economies of the five countries it will traverse.
(Global Construction Review)

Electricity coverage launched by SolarAfrica to boost automaker Ford’s Silverton assembly plant in South Africa. The project puts the assembly plant on the map as part of Ford’s commitment to shift its energy supply from fossil fuels to environmentally friendly and renewable sources.
(CEO Business Africa)

$100 million
Venture capital fund launched by Constant Ventures to invest in technology startups working on financial inclusion, education, and healthcare. Nigeria and Ghana will be the first target markets for the fund, which will later expand to the rest of West Africa.
(CEO Business Africa)

Decline in earnings recorded by Honeywell Flour Mills, resulting in a $2.3 million full year loss for Nigeria's leading manufacturer of wheat-based products. This fall was attributed to a 32.9% rise in costs at its three operational factories.
(Food Business Africa)

30 GW 
Generation of renewable energy set to be achieved by Mauritania's $40 billion green hydrogen AMAN, to be undertaken by the government and renewable energy developer CWP Global. One of the largest of its kind in Africa, the project is expected to transform the regional energy mix while generating critical revenue for the Mauritanian government.
(Energy Capital & Power)


Review by Kili Partners . Powered by Asoko Insight