Author: Editor

Kapital Afrik intends to deliver strategic financial information to executives and managers, through a daily newsletter and a website that covers all African finance.

The Economic Commission for Africa – a think tank with specialist expertise in African and international trade policy – has recommitted to helping Ethiopia’s trade policy agenda that aims to foster industrialization and sustained economic growth. Although Ethiopia remained outside the regional and global trading regimes for a long time, this is now changing. Not only has Ethiopia ratified the Agreement Establishing the African Continental Free Trade Area (AfCFTA), it is also negotiating its accession to the World Trade Organisation (WTO). However, neither the negotiations to join the WTO, nor the efforts to implement the AfCFTA Agreement has been smooth…

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Adenia’s new fund has been selected as a 2X Flagship Fund, in recognition of its goal of having a positive impact on women. Adenia Partners (“Adenia”), a private markets investment firm committed to responsible investing and a sustainable Africa, is pleased to announce the first close of its fifth flagship fund, Adenia Capital (V) L.P.(“Adenia V” or “the Fund”), with $300 million commitments from investors. The Fund exceeded its first close minimum threshold, achieving 75% of its target size, and attracting institutional and commercial investors who have invested in previous Adenia funds, as well as new investors. The list of…

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Ecobank Group, the leading pan-African bank, has won the highly coveted Best Place to Work in Africa 2022 Award from the Best Place to Work organisation. The Award honours organisations that exhibit the highest standards of excellence in Human Resources (HR) practices and employees’ experience. Ecobank is the first Pan-African bank to have been awarded the certification. Ade Ayeyemi, Chief Executive Officer, Ecobank Group, said: “At Ecobank, we recognise that our people are our greatest asset. As a pan-African bank, we are intentional in deploying resources to attract, develop and retain the right talent. We actively provide the tools and…

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The private sector is recognized as an indispensable stakeholder in the African Continental Free Trade Agreement (AfCFTA), especially given its ability to catalyze sustainable economic development and job creation. “Africa’s private sector accounts for 80 percent of total production, two-thirds of investment, and three-quarters of credit, and employs 90 percent of the working-age population,” said Stephen Karingi, Director of Regional Integration and Trade at the Economic Commission for Africa (ECA). Speaking during the opening of a three-day Africa Prosperity Dialogues on 26 January in Ghana, Mr Karingi called on captains of trade and industry to “own and drive the implementation…

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Louis DIAKITÉ, a hardworking and visionary man, created AFRIPA TELECOM in 1994 in Cotonou, Benin. Specializing in telecommunications, the company became a leading provider of internet services and mobile networks in West Africa. AFRIPA TELECOM paved the way for developing cellular networks in Benin (the first in West Africa), Mali, Niger, and Sierra Leone. In the 90s, the Internet was still early in Africa. However, the first applications of voice transportation over the Internet, which resulted in a significant decrease in telecommunications costs, offered a golden opportunity for pioneering companies in the sector, such as AFRIPA TELECOM, which experienced rapid…

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The African Development Bank Group, will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world. Bank Group President, Dr Akinwumi Adesina, announced Wednesday at the Dakar 2 Africa Food Summit in Diamniadio, east of the Senegalese capital of Dakar. Adesina called on more than 34 heads of state, 70 government ministers, the private sector, farmers, development partners, and corporate executives to work out compacts that would deliver food and agriculture transformation at scale across Africa. He encouraged them to take collective action…

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The 120 Megawatts power plant in Malicounda, Senegal, co-developed by Africa50 and its partners has reached financial close for a total project cost of €154m. The combined cycle power plant is capable of producing more than 956 GWh of baseload energy a year, increasing the country’s power generation capacity by 8% while substantially reducing generation costs. The Malicounda power plant is also designed to convert to the use of natural gas as soon it comes on stream from domestic fields which are currently under development, shifting Senegal’s energy mix to cleaner fuel. The Malicounda power plant, which started commercial operations in August…

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By Obbie Banda – Underwriter | Acting RLSF Coordinator, African Trade Insurance Agency (ATI) The African Trade Insurance Agency (ATI) issued the fifth policy under its Regional Liquidity Support Facility (RLSF) in support of the 7.8 MW Nyamwamba II Run-of-the-River hydropower plant in Uganda on 19 May 2022; closing Phase 1 of RLSF, a liquidity instrument jointly founded by ATI and the KfW Development Bank with grant funding from the German Federal Ministry of Economic Cooperation and Development (BMZ). Under Phase 1, the five RLSF policies have been issued for the benefit of renewable energy projects in Burundi, Malawi and Uganda, enabling a…

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The implementation of the African Continental Free Trade Area (AfCFTA) should be expedited as the free trade zone will boost intra-African trade and accelerate industrialization, the Economic Commission for Africa (ECA) Acting Executive Secretary, Mr. Antonio Pedro, has urged. “While the AfCFTA’s promise is high, that promise can be realized only if the Agreement is implemented efficiently,” Mr. Pedro said, admitting that implementing the AfCFTA Agreement and supporting African economies, particularly Least Developed Countries (LDCs), was no small task. In remarks at the opening of the Regional consultation on LDC5 for LDCs in Africa and Haiti, Mr. Pedro said the…

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The African Continental Free Trade Area (AfCFTA) is an opportunity for young people to accelerate Africa’s industrialization and economic transformation through entrepreneurship, youths say, calling for an enabling policy framework. Through its Youth Protocol, the AfCFTA recognises that young people can play a critical role in the achievement of the free trade zone by initiating youth-led initiatives in agriculture, financial technology, IT and in the creative industry. However, they note that across the youth-dominant trade areas critical to the AfCFTA, the challenges of infrastructure gap, lack of access to modern technologies, funding, electricity and broadband internet keep the youth on…

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Africa50, the pan-African infrastructure investment platform and Tassec Investment Holdings Africa, announced the completion of Africa50’s equity investment into Scanning Systems, a company specialized in the design, financing, and implementation of One-Stop Joint Border Posts (JBPs) in Africa. The investment will support Scanning Systems to develop JBPs and deliver efficient border management with modern facilities and tools, facilitate transit and increase traffic across the borders of Africa. This is expected to significantly reduce transit time, enhance security and increase tax and customs revenue collection for national and local economies. Over the past years, Scanning Systems has become the preferred partner…

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The Government of The Gambiahas signed a Memorandum of Understanding with Africa50, the pan-African infrastructure investment platform, for the Senegambia Bridge to be considered for Africa50’s Asset Recycling Programme. Asset Recycling is an innovative initiative for governments to monetize existing infrastructure assets through a concession to the private sector with funds received being reinvested in other priority projects. Under the contemplated scheme, Africa50, together with a technical partner, are expected to manage and operate the Senegambia Bridge under a PPP scheme. Africa50 as the lead concessionaire, plans to engage leading infrastructure investors to join the consortium which will bring on…

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The scholarship will offer faculty at Tunisian medical schools the opportunity to pursue a master’s degree at Harvard Medical School in Boston. Twenty qualified professors, clinicians and academic researchers from the Universities of Tunis El Manar, Sousse, Monastir and Sfax will receive the funding over the next 10 years. Selected high-potential scholars who are active in medical education in Tunisia will have an opportunity to apply for admission to one of HMS’s master’s degree programs with tuition support and funding, to cover their living expenses in Boston for the duration of the program. This Scholarship is funded by Harvard alumnus Hazem…

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January 4th, 2023- SPE Capital, an investment firm focused on Africa and the Middle East, announces the acquisition, by its private equity fund SPE AIF I, of a majority stake in Vital, the leading nutritional supplements producer in Tunisia. Vital constitutes the fund’s 9th investment and the 4th in 2022. Established in 2000, Vital has grown into the leading dietary supplements and herbal medicine manufacturer in Tunisia, with a portfolio of over 400 high quality branded products, marketed in Tunisia and internationally, and 8 million units manufactured each year. Over the past few years, the company has grown to 400…

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