Sunday, October 17Inside Business Africa
Shadow

Economy

Finding Africa’s Next Generation of Filmmakers: Netflix & UNESCO Launch Groundbreaking Competition in Sub-Saharan Africa

Finding Africa’s Next Generation of Filmmakers: Netflix & UNESCO Launch Groundbreaking Competition in Sub-Saharan Africa

Business, Corporate Stories, Economy, Innovation
Netflix (www.Netflix.com) and UNESCO have partnered to launch an innovative short film competition on ‘African Folktales, Reimagined’ across Sub-Saharan Africa (https://bit.ly/3v7ar9e). Winners of the competition will be trained and mentored by industry professionals and provided with a US$75,000 production budget to create short films that will premiere on Netflix in 2022 as an “Anthology of African folktales”. One key aim of this competition is to discover new voices and to give emerging filmmakers in Sub-Saharan Africa visibility on a global scale. We want to find the bravest, wittiest, and most surprising retellings of some of Africa’s most-loved folktales and share them with entertainment fans around the world in over 190 countries. The competition, which will be administer...
Desert to Power G5 Sahel Financing Facility receives $150 million from Green Climate Fund

Desert to Power G5 Sahel Financing Facility receives $150 million from Green Climate Fund

Business, Economy
The African Development Bank (AfDB.org) has welcomed $150 million investment in its Desert to Power G5 Financing Facility from the Green Climate Fund (GCF). The GCF approved the amount at its 30th Board meeting this week. Desert-to-Power is a flagship renewable energy and economic development initiative led by the African Development Bank. Its objective is to light up and power the Sahel region by building an electricity generation capacity of 10 gigawatts through photovoltaic solar systems via public, private, grid and off-grid projects by 2030. GCF’s catalytic financing alongside that of the African Development Bank and the private sector will together mobilise nearly $1 billion for this truly transformative project The objective of the umbrella Desert to Power G5 Financin...
Africa Investment Forum roundtable event showcases agribusiness investment opportunities ahead of 2021 Market Days

Africa Investment Forum roundtable event showcases agribusiness investment opportunities ahead of 2021 Market Days

Agriculture, Business, Economy
The  Africa Investment Forum held a roundtable event to preview two agribusiness deals worth nearly $400 million as part of the lead-in to its upcoming 2021 Market Days. The investment opportunities, drawn from the Africa Investment Forum’s pipeline, will be presented in full during the Market Days, to be held from December 1-3 in Abidjan. The virtual roundtable, organized by the Atlantic Council, took place on Thursday 7 October, 2021. During the roundtable, members of the AIF team presented an outline of the deals to investors.  As a sector, agriculture has been under-supported by investment to date, and the Africa Investment Forum’s vision is to be a catalyst for significant investment The first one, which requires $345 million in capital, entails construction and...
Liquid Intelligent Technologies joins hands with Africa Legal in an ed-tech partnership to drive professional growth in Africa through Liquid Labs

Liquid Intelligent Technologies joins hands with Africa Legal in an ed-tech partnership to drive professional growth in Africa through Liquid Labs

Business, Corporate Stories, Economy, Technology
Liquid Telecom Picture © Gareth Davies 07774899744 Capture Comms Ltd Captruecommsltd@gmail.com Leading pan-African technology group Liquid Intelligent Technologies (www.Liquid.Tech), through its innovation and partnerships arm Liquid Labs, is launching three online courses on legal technology, targeted at supporting career development amongst students, budding entrepreneurs, and lawyers. This has been possible through a partnership with Africa Legal, an organisation that connects legal professionals across the African continent. Liquid Labs aspires to make relevant tech training programmes accessible to students and professionals to bridge the affordability and digital divide, the main deterrents to increased access. The courses will offer targeted training for lawyers and the busi...
Egyptian automotive aftermarket enters the fast lane

Egyptian automotive aftermarket enters the fast lane

Economy
Egypt’s automotive aftermarket is accelerating and has been dubbed “one of Africa’s most exciting markets” as its motoring population and vehicle sales grow, its economy expands, FDI floods in, and the government moves to combat automotive emissions. It’s a powerful combination which Germany’s Africa business experts africon GmbH, the knowledge partners of Automechanika Dubai, the Middle East and Africa’s largest international automotive aftermarket trade show, contends has resulted in an aftermarket now worth between US $1-2 billion. And africon GmbH should know, having worked on more than 30 automotive market projects across Africa in the last few years. The company has now turned its expertise specifically on the high potential Egyptian market with a whitepaper collated from ...
Energy transition-a new path to power in Africa

Energy transition-a new path to power in Africa

Business, Economy, Energy
Africa currently sits on the cusp of a transition into a new energy paradigm, one in which technological and commercial innovations are delivering increasingly decentralised power to the people of the continent in new ways. A recent White Paper released by global management consultancy company Kearney outlines the overarching strategic considerations for African utilities to forge a path to sustainability amidst the backdrop of this global paradigm shift. Entitled A New Energy Path to Viability for African Utilities, the paper unpacks the broader macroeconomic trends that are shaping the transition.  Kearney partner Igor Hulak explains the dual mandate shouldered by energy utilities in Africa, who play an integral role on the continent. “Availability of power is e...
Multinational: African Development Bank approves $86.72 million loan to boost water security and socio-economic development in South Africa and Lesotho

Multinational: African Development Bank approves $86.72 million loan to boost water security and socio-economic development in South Africa and Lesotho

Business, Corporate Stories, Economy, Innovation
The African Development Bank Group’s (AfDB.org) Board of Directors has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project. The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho. The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries. The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the Polihali Dam and reservoir, a 38 kilometer-long water transfer tunnel, roads and bridges, telecommunications infrastructure, and to e...
Private Investment in Africa is Exceeding Expectations in 2021, According to New AVCA Report

Private Investment in Africa is Exceeding Expectations in 2021, According to New AVCA Report

Business, Economy
Despite widespread decline felt by most economies across the globe, private equity fundraising in Africa has already managed to reach US$1.3bn for the first half of 2021, when including final and interim closes. Mirroring the gradual stabilisation of Africa’s macroeconomic environment is the African private equity (PE) industry, which continues to prove itself and is once again on a growth trajectory. This is according to the 2021 H1 African Private Equity Data Tracker released by the African Private Equity and Venture Capital Association (AVCA). The report revealed that North Africa and West Africa jointly attracted the largest share of PE deals by volume, at 23% each. Multi-region deals attracted 50% of deal value for the first half of the year. The data tracker provides a provisi...
The Struggle For Financial Independence Among Nigerian Youths

The Struggle For Financial Independence Among Nigerian Youths

Business, Economy
molara (not her real name) is a 36-year-old who lives with her parents. Her daily routine is basic — cook, clean, and assist her mother at her small provision store. According to her, this is the best life she can afford at the moment. Since she graduated from the university 11 years ago, she has never earned a gross monthly salary above N30,000. “I have tried everything,” she said. “It is so depressing and embarrassing for me, but I have learnt to live with it. Maybe it would have been easier if I were married. At least, I’ll no longer be a burden to my parents. My parents have done enough for me, and I feel guilty that they aren’t reaping anything.” Adults who are financially dependent face stigma, especially as they approach the age of 30. Society expects them to be mature enough...
Creating Wealth Through The E-Naira

Creating Wealth Through The E-Naira

Business, Economy
In 1995, Neal Stephenson published a science-fiction titled, The Great Simoleon Caper. In this work, Stephenson referenced a cryptographic e-money consisting of “numbers moving around on wires.” Twenty-six years later, that nerdy fantasy is a reality. The Bahamas, Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia, and Grenada have launched digital currencies as legal tenders. The Central Bank of Nigeria is joining this list with the launch of the e-Naira today, October 1st 2021 — a central bank digital currency that will operate using blockchain technology. Interestingly, this initiative picked up steam after the apex bank restricted commercial banks from processing cryptocurrency-related transactions. Notwithstanding, the launch of the e-Naira is promising for Nigeria,...