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 (ECA) will host the Eighth meeting of the Regional Committee for Africa of the United Nations Global Geospatial Information Management (UN-GGIM: Africa) in Ethiopia from 24-28 October to discuss opportunities and look at issues related to geospatial information policy at the national and regional levels that require a decision, resolution or recommendation to be issued by Member States, ECA or partners and other stakeholders. UN-GGIM: Africa was established to coordinate African geospatial development and to contribute to the wider global initiative. UN-GGIM: Africa plays a leading role in making joint decisions and setting directions on…

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Oragroup has become an official Signatory of the UN  Principles for Responsible Banking – a single framework for a sustainable banking  industry developed through a partnership between banks worldwide and the United  Nations Environment Programme Finance Initiative (UNEP FI).   The Principles are the leading framework for ensuring that banks’ strategy and practice align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks who have signed the Principles commit to be ambitious in their sustainability strategies, working to mainstream and embed sustainability into the heart of their business,…

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The Government of Rwanda and the United Nations (UN) will celebrate the 60th anniversary of the country’s membership in the UN under the theme, “Partnering for a Better, Shared Future for All”.  The official celebration will take place on Monday, 24 October 2022 in Kigali to mark the anniversary, and fruit trees will be planted during Umuganda in Huye and Musanze Districts, and in Kigali, on Saturday, 29 October 2022. These events serve as an opportunity to reflect on the success stories and lessons learned from the partnership between Rwanda and the UN. Minister of Foreign Affairs and International Cooperation…

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Solid growth, sustained investment, a controlled deficit and debt. The government’s action program (PAG) and austerity measures have kept the country on course since 2020, and even achieved unexpected results. However, the street is grumbling. Benin’s performance in 2020 was quite “respectable”, with growth of 3.8 per cent, one of the highest in Africa, at a time when sub-Saharan Africa was shrinking by 1.6 per cent. We expect growth of 5.51% in 2021 and 6.49% on average from 2022,” said Arthur Minsat, chief economist for Africa at the Organisation for Economic Co-operation and Development (OECD). Debt, the budget deficit and…

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The Global Center on Adaptation (GCA) signs its first cooperation agreement with the EMEA division of Invesco focused on an investment strategy in the climate adaptation space. The agreement, expected to become fully operational at COP27, is specifically targeted at exploring a blended finance strategy that aims to increase adaptation investment in developing markets. The MoU was signed at the margins of the ongoing Finance in Commons Summit organised by the African Development Bank and the European Investment Bank in Abidjan, Cote d’Ivoire. Invesco is an independent investment management firm that offers a wide range of single-country, regional and global…

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Kasada, the leading independent real estate private equity platform dedicated to hospitality in sub-Saharan Africa, announced today that it has acquired one of the most popular seaside resorts in Senegal: The Lamantin Beach Resort & Spa. This is Kasada’s 4th property in Senegal following the acquisition of the Pullman, Novotel and Ibis Dakar in January 2021. The asset is located along the Petite Côte, in Saly, a prominent leisure hub that attracts international and local visitors alike. It features 166 keys, meeting rooms, 2 swimming pools, a spa & wellness area, a water sports centre, and is one of the only…

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Third edition to take place in Abidjan, Côte d’Ivoire from 18-20 October 2022Hosted by the AfDB and EIB, in partnership with AFD, CEB and CDPHybrid event accessible online: www.eib.org/fics-reg The third edition of the Finance in Common Summit will take place in Abidjan, Côte d’Ivoire from 18 to 20 October 2022 under the theme “Green and Just transition for a sustainable recovery”. For the first time, the summit will be hosted by two major multilateral banks: the African Development Bank (AfDB) and the European Investment Bank (EIB), in partnership with the French Development Bank (AFD), the Cassa Depositi e Prestiti (CDP) and the…

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Renew Capital Angels invests in the firm’s Akellobanker platform for financial inclusion and agricultural growth Uganda is home to 25 commercial banks, four microfinance deposit-taking institutions (MDIs), three credit institutions and more than 300 non-deposit-taking microfinance institutions (MFIs). However, according to the 2018 Finscope Survey, which is published by the think tank Financial Sector Deepening Uganda, an estimated 89% of the adult population is still “unbanked,” meaning that they don’t have an account with a formal banking institution. Not only that, the economic data collection website Trading Economics estimates that 74.45% of Uganda’s 45.7 million inhabitants live in rural areas.…

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The United Nations Economic Commission for Africa (ECA) organized its monthly Press Briefing on “Africa Hall and Pan-Africanism: Past, Present, and Future” on Monday 10 October with Antonio Baio, Project Manager of the Africa Hall, ECA and Getachew Kassa, Supervisor of the Africa Hall Project at the ECA. The focus of the briefing was to present the renovation project of the Africa Hall which will modernize and ensure the building complies with international standards. Supervisor of the Africa Hall Project, ECA, Getachew Kassa, outlined the historical significance of the Africa Hall, which was inaugured in 1961 and has hosted several…

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Working with a broad range of international partners, OCP is addressing both the immediate and longer-term drivers of food insecurity on the continent. Yesterday, OCP Group Chairman & CEO, Mostafa Terrab announced at the World Bank Annual Meetings that the OCP Group, a global leader in plant nutrition and the world’s largest producer of phosphate-based fertilizers, has committed to reserve over 4 million tonnes of fertilizers for African farmers in 2023. This is more than double OCP’s supply to the continent in 2021 and represents over a quarter of OCP’s expected total output. In line with OCP’s farmer-centric approach, this…

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➢ Africa50’s investment in Holged Group, a leading provider of primary and secondary education in Morocco and Tunisia, will support the expansion of Holged’s network of schools across Africa. Africa50, the pan-African infrastructure investment platform, has entered into an agreement to invest in Holged Group (Holged) subject to approval by Morocco’s Competition Council. The investment will further accelerate the expansion of Holged’s network of schools across Africa. Holged has built a reputation for excellence, with high-quality teaching and serving more than 16,000 students in its 16 campuses across Morocco and Tunisia. Since commencing operations in 1986, Holged has recorded remarkable success…

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Mainstreaming conflict sensitivityBoosting investment to strengthen resilience to fragility, help prevent conflict, support recovery from conflict and stimulate peacebuildingImproving knowledge base and impact measurementDeepening strategic partnerships The European Investment Bank adopted its first Strategic Approach to Fragility and Conflict. It outlines the bank’s vision and approach to working in fragile and conflict affected contexts, with the aim to enhance EIB’s development impact. Investing in fragile and conflict affected contexts is challenging due to the lack of adequate data and analytics, higher levels of risks and uncertainty, as well as a weaker legal and regulatory environment. The EIB’s Strategic Approach focuses…

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The 2022 Afreximbank Trade Finance Seminar (ATFS2022) and Factoring Workshop opened on 3 October in Kampala, Uganda. The three-day programme of presentations, panel discussions, interactive sessions and workshops focuses on managing the challenges of trade finance in the context of increased global economic uncertainty and the opportunities offered by the African Continental Free Trade Agreement. In her Keynote Address, Mrs. Kanayo Awani, Afreximbank Executive Vice President, Intra-African Trade Bank, explained that the 2022 Afreximbank Trade Finance Seminar, which is being held for the first time in a face-to-face setting since the onset of the COVID-19 pandemic in 2020, was geared…

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On the sidelines of the General Shareholders Meeting of Africa50 held in mid-July in Marrakech, Morocco, Financial Afrik spoke with Tshepidi Moremong, Chief Operating Officer (COO) to discuss highlights of the organization’s strategic direction. In office since 2021, Ms. Moremong leads a multi-disciplinary team responsible for fundraising, investor relations, strategy, human resources and administration, communications and environmental, social and governance. She has twenty-two years of experience in strategic leadership in the fields of private equity, investment banking and business development. Following the conclusion of the Africa50 annual General Shareholders meeting (GSM), what are the commitments made and the state of…

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