October 4 2022

Africa in Review by the Numbers (September 2022)

Review by Kili Partners . Powered by Asoko Insight

$670 million
First round funding closed for Afreximbank's Fund for Export Development (FEDA), which will help to finance the equity gap and support foreign direct investment in Africa's trade sector. The financing is split across four funds: direct equity, strategic initiatives, private credit and venture.
(Africa Global Funds)

Workers likely to get jobs in the renewable energy sector in Kenya as more producers connect to the grid following the saturation of the off-grid market. The growing demand has resulted in companies increasing training opportunities for workers to address skills gap in the sector.
(Business Daily)

Stake in GlobalFeed acquired by Morocco's leading fertiliser company OCP Group. The acquisition of the Spanish company will help OCP diversify its phosphate solutions and become a leading player in animal nutrition sector.
(CEO Business Africa)

$734 million
Sustainability-linked bond launched by diversified miner Anglo American. This is the company's first intrument to include targets to reduce greenhouse gas emission and fresh water abstraction and create jobs in host communities in Africa.
(CEO Business Africa)

Returns earned by developers of student housing in Kenya, well above the 4% earned in the residential market so far this year. Undersupply of housing for students coupled with high demand for growth in number of students is driving demand.
(Business Daily)

Families to benefit from solar-powered water heaters distributed by the Tunisian government. These kits will help optimise energy consumption in the North African country currently affected by an economic crisis and reduce its fossil energy consumption by 30% by 2030.
(Africa Energy Portal)

$653 million
Rice development project has been launched in Niger to increase the level of local paddy rice production to more than 1.4 million tonnes. The 10-year project will involve the modernisation of production, promotion of processing and strengthening technical capacities in the sector.
(Food Africa Business)

Rise in toll fees for oil tankers crossing the Suez Canal, to be applied in 2023. Cargo ships and cruise liners will face a 10% hike, imposed as a result of increasing global inflation rates. Some 10% of global trade, including 7% of oil passes through the canal, which is a major source of revenue for Egypt.
(ABC News)

200 MWp
Solar power financing in South Africa has been secured by Sola Group to provide power to mining operator in Tronox. The $179 million fund is Africa's largest corporate renewable power purchase agreement to date..
(Africa Energy Portal)

$5 billion
Support pledged by the government of Japan and AfDB under the Enhanced Private Sector Assistance for Africa initiative. The funds will be used to support priority sectors, including food and agriculture, electricity, connectivity and health.
(Food Business Africa)

10 million
User base of Nigerian fintech PalmPay. This represents a doubling in its user base within six months and puts its customers numbers in the same group as major institutions.
(Tech Build Africa)

Mining exploration projects currently ongoing in various parts of Ghana, mainly targeted at gold, lithium, copper and cobalt. The exploration projects are expected to increase in the coming years following recent geological investigations which revealed viable prospects for iron ore, nickel, zinc, chromium, lead and columbite-tantalite in the country.
(Ghanaian Times)


Review by Kili Partners . Powered by Asoko Insight