May 30 2022

Africa in Review by the Numbers (May 2022)

Review by Kili Partners . Powered by Asoko Insight

$100 million
Risk-sharing facility signed by British International Investment to provide systemic liquidity and help Citi, a global leader in trade and supply chain finance solutions. This facility will help grow its supply chain finance product across Africa.
(CEO Business Africa)


1 billion
Rides recorded by Uber across all its markets in Africa. This milestone comes nearly a decade since the mobility tech company launched in South Africa before expanding into other African countries, creating over 6 million economic opportunities.


46 MW 
Biomass power plant under construction in Côte d'Ivoire, making it the largest such facility fuelled by agricultural waste in West Africa. Built at an estimated cost of $276 million, the plant will be transferred to the state of Côte d'Ivoire after the conclusion of the 25-year concession tenure.
(NS Energy)


$60 billion
Estimated financing sub-Saharan needs to access reliable electricity and clean cooking facilities between now and 2030. According to the Minister of State for Petroleum Resources in Nigeria, an annual investment of $35 billion could bring electricity access to 759 million Africans who currently lack it.
(This Day)


20 million
Farmers set to benefit from AfDB’s $1.5 billion emergency food facility to help African countries avert a looming food crisis caused by Russia’s war in Ukraine and persisting impacts of the Covid-19 pandemic.


Percentage by which Shelter Afrique's debut bond in Nigeria was oversubscribed, demonstrating investor confidence in the local housing market. The pan-African housing finance and development institution will use the bond proceeds to fund mass-housing developments and to provide lines of credit.
(Africa Global Funds)


$2 billion
Funding launched by African Finance Corporation to to support bank-driven economic recovery and resilience in Africa. This facility, dubbed African Economic Resilience, will be disbursed via loans from AFC to select commercial banks, regional development banks and central banks in various African countries.
(African Business)


Nigeria's share of oil and gas projects starting in Africa between now and 2026, with 109 of the continent's 400 oil and gas projects expected to be launched in the West African country. Of these, the largest proportion will be in the downstream refining segment, which should see 38 projects come on-line.
(Energy Day Nigeria)


92.4 million litres
Milk produced by Zimbabwe’s leading dairy processor, Dairibord Holdings, resulting in 55% growth compared to the previous year. This jump in production was largely driven by significant growth in the beverages segment, with production volumes up by 84%, while foods jumped by 34%.
(Food Business Africa)


$20 million
Fund closed by Cape Town-headquartered venture capital firm Havaic to boost early-stage tech investments in Africa. Launched in partnership with Universum Wealth, the fund will invest in impactful tech companies in South, East and West Africa.
(Disrupt Africa)


Growth recorded by Cadbury Nigeria Plc for the first quarter of 2022. The pre-tax profit growth follows a 52% fall in profits in 2021, as rising costs outstripped revenue growth over the year. The company attributed the growth to its repositioning strategy within a challenging environment.
(Food Business Africa)


400 MW
Geothermal power to be added to Kenya’s national grid in the next five years under a project by KenGen to rehabilitate some of its geothermal power plants and upgrade others as it continues with exploration around Olkaria and Eburru.
(The Standard)


$25 billion
Funding target by AfDB for climate resilience projects across Africa by 2025, doubling the bank's commitment over the last five years to helping countries mitigate and adapt to the effects of climate change.
(The East African)


People living with hearing impairment set to benefit from the first sign language app launched in Kenya. The app aims to close the communication gap and simplify communication with people in health, education, judicial system, and finance.


Estimated increase in share earnings projected for South Africa’s leading integrated poultry producer, Astral Foods Limited. The improved earnings were achieved through rising poultry sales volumes resulting from significant capital investments to enhance Astral’s poultry production and processing capacity.
(Food Business Africa)


Review by Kili Partners . Powered by Asoko Insight