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  • Airtel Partners with Google to Elevate Home Entertainment

    Airtel Partners with Google to Elevate Home Entertainment

    …Integrates YouTube into Airtel Smart Router

    Leading telecommunications service provider, Airtel Nigeria, has announced an innovative partnership with Google to transform home entertainment across Nigeria.

    The partnership, which was unveiled at an agreement signing ceremony at the telecom giant’s Lagos headquarters, integrates YouTube, the world’s largest video platform, into the ground-breaking Airtel Smart Router to deliver seamless internet connection and entertainment experiences for subscribers across the country.

    As part of this innovative update, the Airtel Smart Router further fulfils its promise as a 2-in-1 device, acting as an internet router while also converting analogue television sets into smart TVs to enable YouTube viewing on any type of TV.

    Now with a YouTube app, a dedicated button on the remote control, and an operating system optimised for a seamless YouTube experience, the Smart Router is equipped to bring world-class quality entertainment closer to more Nigerians.

    Speaking on the new partnership, Chief Commercial Officer, Airtel Nigeria, Femi Oshinlaja, highlighted its significance towards transforming digital entertainment in Nigerian homes.

    “At Airtel, our goal to bridge the digital gap includes the provision of affordable entertainment content. Through this partnership with Google, we continue to revolutionise the entertainment space as the Airtel Smart Router offers a complete experience, delivering internet services and easy access to world-class entertainment through YouTube,” he said.

    Also providing more insight about the collaboration, Director, Corporate Communications & CSR, Femi Adeniran, stated, “The integration of YouTube on the Airtel Smart Router offers an unmatched simplification of the customer experience, transforming how our customers consume digital content at home. This partnership reflects our commitment to creating affordable and innovative solutions that enhance the digital lifestyle of our customers.”

    The ground-breaking Airtel Smart Router, which retails for N25,000 and arrives with unlimited data for 30 days, simplifies the streaming of movies, football matches, cartoons, music, and other forms of audio-visual entertainment for the entire family.

    Olumide Balogun, West Africa Director, Google, added: “YouTube has always been about connecting people with the content they love, whether it’s exploring new hobbies, staying informed, or discovering creative inspiration. With this partnership, we’re making it easier for more Nigerians to access their favorite videos right from their TVs, enabling even more homes to benefit from the wealth of knowledge and entertainment that YouTube offers. It’s an exciting step toward our mission of creating a digitally inclusive Africa.”

    Reiterating Balogun’s assertion, Director, EMEA Product Partnerships, YouTube, Mahesh Bhalerao said, “YouTube is the stage where culture comes to life and where everyone, from creators to viewers, can find their voice and connect with what matters most to them. This collaboration with Airtel underscores our commitment to bringing high-quality, on-demand content to more homes, while empowering Nigerian audiences to explore, learn, and enjoy the diversity of experiences YouTube offers.”

    Airtel is committed to redefining the data access for Nigerian households via affordable and portable connection devices such as routers and MiFis.

  • MIGA and BOAD to Expand Climate Finance in West Africa

    MIGA and BOAD to Expand Climate Finance in West Africa

    The Multilateral Investment Guarantee Agency (MIGA), which houses the World Bank Group Guarantee Platform, issued a €506 million ($535 million) guarantee to Societe Generale of France (SG) and HSBC Bank Plc of the United Kingdom (HSBC) for their loans to the West African Development Bank (Banque Ouest Africaine de Développement or BOAD). The guarantee covers the risk of non-honoring of financial obligation by a regional development bank for up to 15 years. 

    BOAD is the Togo-based regional development bank of the West African Economic and Monetary Union (WAEMU). Its mandate is to promote the balanced development of its member states and to foster economic integration within West Africa by financing priority development projects. The MIGA-guaranteed loan will support BOAD’s lending operations for sustainable and climate projects across its eight member countries. The proceeds of the guaranteed loan will benefit agriculture, renewable energy, general and digital infrastructure, green housing and real estate, health care, and education projects in Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. 

    “The project reflects our commitment to support climate finance in low-income countries and to respond to key development challenges in regions such as the West African Economic and Monetary Union,” said Hiroshi Matano, MIGA Executive Vice President. “We believe our guarantee will catalyze further investments in the transition to a green economy and create new green jobs.”  

    BOAD has committed to deploying 50% of the guaranteed loan to eligible climate finance projects, of which 30% will be directed toward climate adaptation financing, within the first five years of the 15-year MIGA guarantee period. The project’s climate action plan includes a procedure for screening and reporting climate finance, as well as enhanced internal processes for identifying and addressing physical climate risks under the Paris Alignment approach. 

    To support low-carbon and climate-resilience pathways in member countries, BOAD has developed a framework that requires all operations to align with the Paris Agreement’s mitigation and adaptation goals.

    “HSBC is pleased to partner with MIGA and BOAD to deliver financing toward BOAD’s strategy to fund sustainability and climate related projects in its member states,” said Himesh Patel, Head of Public Sector EMEA for HSBC. 

    “This guarantee product represents a particularly innovative initiative. It will actively support the financing of projects with a strong environmental and social impact, demonstrating our commitment to sustainable development and social responsibility,” said M. Serge EKUE, President and Chairman of BOAD.

    “BOAD entrusted Société Générale to act as Arranger, Global Coordinator, Sustainability Bank and sole Hedge Provider for their first MIGA-covered loan. By supporting Climate Adaptation projects in 8 member countries, BOAD is at the forefront of West African sustainable development, bringing substantial environmental benefits in priority sectors such as resilient agriculture or renewable energy,” said Randolph-Davis FOTSO, Director – Development & Structured Export Finance, and Head of DFI Solutions of Societe Generale of France. “This transaction is proof of Société Générale’s commitment in delivering robust transactions and confirming our ambition to support the sustainable growth of West Africa, a region that remains at the heart of our team’s ambitions.”

    The project has committed to a gender action plan aimed at enhancing institutional capacity on gender. This will be achieved by developing and utilizing e-learning modules on BOAD’s gender approach for its employees and clients, as well as creating and piloting an online monitoring and reporting tool for gender to support tracking on the implementation of BOAD clients’ gender action plans. 

    The eight countries are some of the fastest growing economies in Sub-Saharan Africa, with significant improvements in trade, infrastructure, and energy, fueled by large public investments. 

  • Over $370 million secured in Engineering, Procurement, and Construction deals at Afreximbank’s Lagos workshop

    Over $370 million secured in Engineering, Procurement, and Construction deals at Afreximbank’s Lagos workshop

    …More than 180 participants, representing EPC companies, financial institutions, law firms and government agencies from West Africa as well as Egypt, Angola and Uganda, were in attendance

    During the recently held African Export-Import Bank (Afreximbank) Intra-African Engineering, Procurement and Construction (EPC) workshop in Lagos participants formalised business deals totalling over US$370 million, a significant step towards empowering African contractors.

    The deals, signed during the workshop held in Lagos on 28 October, included a US$300-million Global facility agreement to Hassan Allam of Egypt, a US$45-million term sheet to Pavifort Construction of Sierra Leone and a US$25-million term sheet to Afric Cement of Burkina Faso.

    Organised to help address the significant gap in Africa’s infrastructure spending, currently standing at over $100 billion annually, which is traditionally awarded to non-African contractors, the workshop brought together key stakeholders to explore transformative solutions to empower African contractors to compete for and secure large-scale projects within the continent.

    Addressing the participants, Ayman El-Zoghby, Director, Trade and Corporate Finance Unit in Afreximbank’s Intra-African Trade Bank, said that the Bank was actively working to address the infrastructure gap by empowering local contractors to take more prominent roles in large-scale projects. He said Afreximbank, had launched the Afreximbank-EPC Tenders Platform to connect contractors with project opportunities while offering them critical financial support throughout project lifecycles.

    According to Mr. El-Zogby, Afreximbank is dedicated to enhancing local content through skills development, technology transfer and fostering of partnerships between African and international firms as an essential step for strengthening Africa’s contractor base and achieving long-term, self-sustained infrastructure growth.

    In addition, recognizing the role of sub-sovereign governments in enabling trade and investment, Afreximbank was engaging with government entities to better understand their specific needs, educate them on providing stable environments and supporting debt strategies in order to provide African contractors with stronger negotiation power and credibility on the global stage, he added.

    “This workshop underscores our commitment to transforming Africa’s infrastructure landscape by empowering local contractors to lead in major projects. By equipping African firms with the financial, technical and risk management tools necessary to compete effectively, we are not only closing the infrastructure gap but also fostering sustainable economic growth, job creation and regional integration which will strengthen Africa’s position in the global EPC market,” Mr. El-Zogby explained.

    Mr. Moctar Mando, Chairman, COGEB Group International noted: “I am grateful to Afreximbank for their trust and support. This signing marks a significant milestone for COGEB Group International in its diversification strategy, centred on complementary activities. This financing is dedicated entirely to the construction of the AFRIC CEMENTS cement plant which will help strengthen my Group’s leadership within its ecosystem.”

    Mr. Alimu Sanu Barrie, Chief Executive Officer, Pavifort Al Associates noted: “The EPC Workshop empowered us to appreciate the challenges indigenous African companies face and Afreximbank’s interventions in solving these challenges through financing, capacity building and networking. We are extremely grateful to the Bank for the signed Term-Sheet of $45 million. The funds will boost the infrastructural and economic development of Sierra Leone and greatly enhance the capacity of our company.”

    Eng. Mahmoud El Essawy, Managing Director, Hassan Allam Construction (Egypt) noted: “I would like to express my sincere gratitude to Afreximbank for its unwavering support in addressing the infrastructure financing needs of Africa. The $200 million facility extended to Hassan Allam Holding, recently increased by an additional $100 million, has been instrumental in supporting our efforts to undertake key projects that promote economic growth and resilience. As we navigate the challenges in the Engineering, Procurement, and Construction (EPC) sector across the continent—such as regulatory complexities, financing gaps, and the need for sustainable practices, Afreximbank’s commitment to facilitating essential funding stands as a testament to their vision for a prosperous Africa. Their support not only empowers us as a group but also strengthens the entire ecosystem needed to meet Africa’s infrastructure demands.”

    Panellists speaking at the event explored financing solutions, strategies for enhancing local content and opportunities to reshape Africa’s infrastructure landscape among other key themes.

    More than 180 participants, representing EPC companies, financial institutions, law firms and government agencies from West Africa as well as Egypt, Angola and Uganda, were in attendance.

    The event was also graced by representatives of the Lagos State Government, members of the diplomatic corps, officials of the Nigeria Customs Service and several business leaders. Key outcomes included the audience’s familiarization of the EPC Platform, designed to connect African contractors with project opportunities, and the signing of EPC-related deals worth over $370 million, underscoring the workshop’s role in fostering partnerships and financial engagement across the continent, which was followed by a lively post-event business networking session. The event highlighted Afreximbank’s ongoing commitment to enhancing local content and capacity building, setting a strong foundation for future workshops and strategic initiatives aimed at advancing the African construction sector.

  • Harnessing the Power of the Carbon Market: Private Sector Leaders Chart the Path for Sustainable Development in Africa

    Harnessing the Power of the Carbon Market: Private Sector Leaders Chart the Path for Sustainable Development in Africa

    The Private Sector ESG Forum, a leading platform designed to champion sustainable business practices across Africa, concluded its 2024 edition with a resounding call to action for the private sector to leverage the carbon market as a catalyst for investment to propel a greener, more inclusive future for Africa.

    The 2024 ESG Forum, with the theme “The Carbon Market: Driving Investment for a Sustainable Africa,” was held on Wednesday, November 6th, 2024, at the Civic Centre, Lagos. This year’s forum brought together prominent business leaders, policymakers, and sustainability experts to explore how the carbon market can unlock transformative opportunities for the continent.

    Yarub Al-Bahrani, Managing Director of BAT West & Central Africa, set the tone for the day’s discussions in his welcome address, emphasizing the private sector’s crucial role in addressing the climate crisis and driving sustainable development.

    “Africa stands at the crossroads of unprecedented opportunity and pressing environmental challenges. As the world transitions to a low-carbon economy, the carbon market offers Africa a unique chance to lead in climate action while attracting much-needed investment for sustainable growth. By leveraging the carbon market, we can generate economic opportunities that uplift communities, advance clean technologies, and build more sustainable industries,” said Al-Bahrani.

    Dr. Oreoluwa Finnih, Special Adviser to the Lagos State Government on Sustainable Development Goals (SDG) who represented the Lagos State Governor, His Excellency, Babajide Sanwo-Olu, shared Lagos state’s commitment to sustainability and good governance practices.

    “Lagos state recognizes the importance of ESG principles in driving a green and resilient economy. The state has taken several steps to advance ESG priorities, including pioneering waste-to-energy projects that convert solid and liquid waste into renewable energy sources, and establishing the Lagos carbon registry,” said Dr. Finnih.

    She also highlighted the state’s commitment to leading by example in transparency through its public-private partnerships in areas like infrastructure, healthcare, and waste management, which aim to reduce bureaucratic delays and improve citizen access to services.

    During his keynote address, Paul Muthaura, CEO of Africa Carbon Market Initiative, expressed the need for collaborative actions to drive sustainable development. He said “The carbon market stands as an opportunity for Africa businesses. It is a tool that enables us to harness our rich natural resources while driving investments that empower communities and protect our environment. Together, we can transform the challenges of climate change into pathways for economic growth, ensuring that Africa leads the world in creating a sustainable future”. 

    The forum featured a series of insightful panel discussions that delved into the multifaceted impact of climate change on African businesses, the financial challenges and solutions for decarbonization projects, and the intricacies of the carbon market and carbon credits.

    The speakers shared valuable insights on how companies can navigate the risks and seize the opportunities presented by climate change, as well as the innovative financing mechanisms and business models that can make decarbonization more viable and attractive to investors.

    Key speakers at the event included: Dr. Innocent Bariate Barikor, Director General/CEO of National Environmental Standards and Regulations Enforcement Agency (NESERA); Segun Ajayi-Kabir, Director General, Manufacturers Association of Nigeria (MAN); Mr. Paul Muthaura CEO, Africa Carbon Markets Initiative, Kenya; Titilayo Oshodi, Special Adviser to the Lagos State Government on Climate Change; Ademola Ogunbanjo, President/CEO, Oando Clean Energy; Ejiro Gray, Director, Governance & Sustainability, Sahara Group; Jocelyne Landry Tsonang, Project Manager Africa, Green Bond Corporation, Cameroon; Afolabi Akinrogunde, Snr. Deal Lead/Business Opportunity Manager, Shell Energy Nigeria; Habiba Suleiman, Head of Strategic Partnerships, TGI Group, amongst many others.

    Part of the highlight of the event was the announcement of the Young Professional Mentorship Programme, aimed at gathering young sustainability enthusiasts to expand awareness and build capacity on ESG.

    “This programme is a transformative step towards empowering the next generation of young sustainability leaders by fostering a community of passionate young professionals, we are not only expanding awareness around ESG but also building the capacity needed to drive meaningful change across Africa. Collaboratively, we can cultivate innovative solutions that will shape a sustainable future for our continent,” said Odiri Erewa-Meggison, Director, External Affairs BAT WCA & Chairman, ESG Forum Technical Committee. 

    The forum also emphasized the responsibility of the private sector, policymakers, and the broader stakeholder community to integrate sustainable practices into their operations and strategies. At the close of the event, participants collectively pledged to be more responsible to ESG practices. This aimed at uniting stakeholders in the race for accountability in driving sustainable progress and addressing pressing environmental and social challenges. 

    For inquiries for the ESG Forum and registration for the Young Professional Mentorship Programme, please visit www.esgforumafrica.com

  • Seplat Energy Canvasses Improved Energy Access for Nigeria’s Development

    Seplat Energy Canvasses Improved Energy Access for Nigeria’s Development

    Seplat Energy Plc, foremost indigenous energy company, says Nigeria’s development will require significant improvements in access to energy. According to the Company, lower-cost, more reliable energy will drive job creation, prosperity and social development and achievement of the United Nations’ Sustainable Development Goals (SDGs).

    The Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown, said this while delivering the Keynote Address at the ongoing 42nd Nigerian Association of Petroleum Explorationists (NAPE) Annual Conference & Exhibition, happening in Lagos. Mr. Brown, who was represented by the Director, New Energy at Seplat Energy, Mr. Okey Mba, spoke on the Conference theme: Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth and Affordability.

    According to him, Nigeria must improve energy access and achieve a balance between equity, security and sustainability; as the country faces the challenges of population growth and lack of economic and social development because of poor energy access.

    “Nigeria’s development will require significant improvements in access to energy. With gas, significant development gains can be achieved with minimal impact on emissions. The country must transition away from reliance on biomass and oil as its primary sources of energy,” he stressed.

    The Seplat Energy boss made a strong case for gas as Nigeria’s transition fuel; saying it is proven and accepted as transition fuel in developed North with large local resources in Africa (Nigeria having the largest) and multiple essential uses beyond power.

    Mr. Brown explained that Nigeria’s abundant gas reserves offer a local solution to resolving the country’s energy trilemma; given that as gas is developed it is likely the reserves will grow materially. Nigeria has estimated 209 Tcf of reserves by many experts believe it is 2 to 3 times that amount.

    “Nigeria’s estimated 40GW(plus) power generation sets (gensets) could be displaced by cleaner, cheaper utility-scale gas and renewables. Every gigawatt (GW) of generator power displaced by cleaner utility-scale gas will decarbonise Nigeria’s energy system and reduce the cost of energy. Our industry must focus on end-to-end solutions to unlock the full value of Nigeria’s gas so we can resolve the energy trilemma,” he added.  

    Seplat Energy’s focus is on supporting more power generation, reducing emissions and creating new gas product lines with its joint venture investments aimed at enhancing capacity at the ANOH and Sapele gas plants, and so on.

    Seplat’s JV investments in gas will deliver significant value for all stakeholders, as the company leverages new business lines in Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG), and decarbonizing its operations through reduced flaring and diesel replacement.  

  • Five Winners of the 2024 Earthshot Prize Unveiled at Awards Ceremony in Cape Town

    Five Winners of the 2024 Earthshot Prize Unveiled at Awards Ceremony in Cape Town

    …2024 Winners will be awarded £1 million each to accelerate and scale their game-changing environmental solutions

    …Calls for nominations for the 2025 Earthshot Prize are now open

    Last night, the five 2024 Earthshot Prize Winners were announced at a star-studded awards ceremony in Cape Town, South Africa, hosted by Emmy, Grammy and Tony Award winner, Billy Porter and award-winning television presenter, Bonang Matheba. The 2024 Winners, selected from this year’s 15 Earthshot Finalists, will be awarded £1 million each to accelerate and scale their game-changing environmental solutions.

    Following a rigorous selection process focused on identifying impactful, inspiring and inclusive environmental solutions, the five Winners are:

    • Fix Our Climate: Advanced Thermovoltaic Systems
    • Revive Our Oceans: High Ambition Coalition for Nature and People
    • Build a Waste-Free World: Keep IT Cool
    • Protect and Restore Nature: Altyn Dala Conservation Initiative
    • Clean Our Air: Green Africa Youth Organization (GAYO)

    Speaking during the Awards Ceremony, Prince William said:

    “I believe our world can be rich in possibility, in hope, and in optimism. That is why The Earthshot Prize exists. To champion the game-changers, the inventors, the makers, the creatives, the leaders; to help them build upon the amazing things they’ve already achieved; to speed their innovations to scale and to inspire the next generation to create the future we all need.”

    Descriptions of the five Winners, by category:

    WINNER for Fix Our Climate:

    Advanced Thermovoltaic Systems, USA
    Nominated by: Herbert Smith Freehills LLP

    Advanced Thermovoltaic Systems (ATS) has developed a simple, safe and scalable technology to capture waste heat and convert it into electricity, offering a game-changing solution for heavy industries like cement and steel production. These industries require extremely high temperatures, which generate vast amounts of waste heat that is typically lost. ATS’s technologies have the potential to save gigatonnes of CO2.

    “At ATS, we are proud to lead the way in converting this waste into clean, usable electricity.  Winning the 2024 Earthshot Prize underscores the transformative potential of our technology. Tonight is a key moment for us as we focus on scaling up production in larger manufacturing facilities.” – Kelly Adams, CEO, Advanced Thermovoltaic Systems.

    WINNER for Revive Our Oceans:

    High Ambition Coalition for Nature and People, Global
    Nominated by: Campaign for Nature

    A groundbreaking alliance of 119 countries with the ambitious goal to protect 30% of land and oceans by 2030, High Ambition Coalition identifies technical, financial and knowledge gaps and connects governments with technical assistance and funding. They’ve already achieved a major milestone with the adoption of the “30×30” target in the 2022 UN Global Biodiversity Framework.

    Rita Maria El Zaghloul, Director, High Ambition Coalition for Nature and People said, “On behalf of the alliance, we are deeply humbled to be a Winner of this year’s Earthshot Prize. Today’s award validates the hard work and dedication of all involved in the 30×30 initiative and fuels our excitement and determination to protect 30 percent of the world’s land and oceans by 2030. Together, we can achieve a more sustainable and biodiverse future.”

    WINNER for Build a Waste-Free World:

    Keep IT Cool, Kenya
    Nominated by: Draper Richards Kaplan Foundation, Katapult Ocean

    Keep IT Cool (KIC) addresses the challenge of food spoilage by providing sustainable, localized refrigeration systems that help small farmers and fishers preserve their produce. By installing solar-powered cold storage units where fish are landed, KIC significantly reduces spoilage and waste by ensuring the catch stays fresh and managing its transport to market. With plans to grow into East Africa and beyond, KIC is now working to expand their activities in poultry, fruit and vegetables and aims to bring their solution to more communities.

    Francis Nderitu, Founder and Managing Director of Keep IT Cool said, “We are on a mission to revolutionise the food supply chain in East Africa. We are grateful for the recognition from The Earthshot Prize, and it is an important milestone for Keep IT Cool. We will continue to enhance market access, reduce waste and build climate resilience for small-scale fish and poultry farmers throughout the region.”

    WINNER for Protect and Restore Nature:

    Altyn Dala Conservation Initiative, Kazakhstan
    Nominated by: United Nations Environment Programme

    Altyn Dala Conservation Initiative has achieved the almost unprecedented feat of saving the critically endangered Saiga antelope from extinction. This mission has grown into one of the world’s largest conservation projects and is focused on protecting and restoring Kaakhstan’s Golden Steppe, one of the world’s least protected natural ecosystems.

    Vera Voronova, Executive Director, Altyn Dala Conservation Initiative said, “We are thrilled to be receiving the 2024 Earthshot Prize for Protect and Restore Nature. Altyn Dala demonstrates that when governments and civil society work together with a shared vision, we can achieve remarkable results. The restoration of the Saiga antelope population and the revival of the Central Asian steppe are not just triumphs for wildlife but for the local communities that depend on these ecosystems.”

    WINNER for Clean Our Air:

    GAYO, Green Africa Youth Organization, Ghana
    Nominated by: Clean Air Fund

    A youth-led, gender-balanced organisation, GAYO uses its “Zero Waste Model” to drive behavioural change in waste management practices across Africa that cut greenhouse gas emissions and particle pollution, while also bringing additional income to communities. Their goal is to reduce greenhouse gas emissions and particle pollution in Ghana by 70%, compared to open burning, as well as divert a total of 4,000 tonnes of waste by 2030. GAYO’s plans to scale would make them the leading model for waste management on the continent.

    Desmond Alugnoa, Co-Founder of the Green Africa Youth Organization (GAYO) said, “We are incredibly honored to be winning the Prize, which is a testament to the power of community-driven solutions and the importance of empowering those most affected by climate challenges. Our work in Ghana demonstrates that sustainable waste management isn’t just a possibility—it’s a necessity. The recognition by The Earthshot Prize fuels our commitment to replicating these models across Africa, proving that local solutions can have global impacts.”

    The five Winners of the 2024 Prize cohort were selected by Prince William and The Earthshot Prize Council, a diverse group of experts, advocates and individuals dedicated to championing urgent and innovative action to protect our planet. The Earthshot Prize Council is chaired by The Earthshot Prize Board of Trustees Chair, Dame Christiana Figueres, architect of the Paris Agreement.

    Members of The Earthshot Prize Council include: His Royal Highness Prince William, Her Majesty Queen Rania Al Abdullah, José Andrés, Sir David Attenborough, Cate Blanchett, Ernest Gibson, Hindou Oumarou Ibrahim, Wanjira Mathai, Stella McCartney, Nemonte Nenquimo, Luisa Neubauer, Indra Nooyi, Dr. Ngozi Okonjo-Iweala and Naoko Yamazaki.

    In addition to the five £1 million prizes supporting the growth of Winners’ solutions, each of the 15 Earthshot Prize Finalists will receive dedicated mentorship, resources and technical support through the year-long Earthshot Prize Fellowship Programme.

    That support includes access to the Prize’s robust network of influential experts and partners, including The Earthshot Prize’s Global Alliance of Partners, comprised of some of the world’s largest businesses, donors, investors and environmental organisations committed to climate action.

    Finalists will also have access to Launchpad, Earthshot’s bespoke online finance platform to matchmake Earthshot solutions to a growing community of members made up of mission-aligned donors and investors seeking to speed proven environmental solutions to scale.

    The Earthshot Prize is already gearing up for the 2025 Earthshot Prize. Nominations for the Prize’s fifth cohort of innovative solutions and entrepreneurs are now open.

    If you missed last night’s spectacular live event you can watch repeat broadcasts of the star-studded ceremony from 07 November on DStv Catch Up, Showmax, and on multiple DStv channels across Africa from 08 November. Check your local television schedules for more details.

  • EAAIF acts as sole impact investor, anchors Africell’s debut issuance of USD300 million international public bond

    EAAIF acts as sole impact investor, anchors Africell’s debut issuance of USD300 million international public bond

    • The financing will support the roll-out of digital infrastructure across four countries, enhancing connectivity for Africell’s current 14 million customers and boosting future growth. 
    • The investment demonstrates EAAIF’s pledge to accelerate the development of capital markets across Africa and South and Southeast Asia

     The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company, managed by Ninety One, has invested USD28 million and acted as the sole impact investor in an oversubscribed USD300 million capital market maiden bond issue. Book orders over USD550 million meant that EAAIF could reduce its anchor commitment from USD40 million to USD28 million, allowing the participation of more private capital from a variety of international investors. 

    The proceeds of the issuance will support capital expenditure growth across Africell’s subsidiaries in Angola, the Democratic Republic of Congo (DRC), The Gambia, and Sierra Leone. This will strengthen the supply of mobile and data connectivity for approximately 14 million current subscribers, with conditions ripe for future expansion across these countries. 

    Magase Mogale, Africell’s Executive Vice President said, “EAAIF was instrumental in the success of this process. Their support and involvement gave other investors confidence, resulting in our debut issuance being heavily oversubscribed. Launching the bond is a transformational moment for our company as we offer investors exposure in four dynamic African countries”.

    The transaction deepens Africa’s financial services landscape and diversifies fundraising sources for dynamic, fast-growth businesses. This bond issuance is the first by any corporate or state in two of Africell’s four established markets (The Gambia and Sierra Leone). It will provide international private investors with insight into these markets and create the opportunity for further, much-needed, foreign investment.  

    Tidiane Doucoure, Director, Emerging Market Alternative Credit at Ninety One Group, the Fund Manager of The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company, said: “We are proud to have acted as anchor investor on the successful first bond issuance of Africell. At PIDG and Ninety One, we firmly believe in the development of capital markets and the mobilisation of private capital in low and middle income countries. That’s the only viable way the trillions of dollars currently available in developed markets will be channeled to support the much needed economic and social growth for the six billion people living in emerging markets. We are honored by the trust of Africell, and our other partners, including the global banks that acted as bookrunners – JP Morgan, Citi, and Standard Bank.”

    Developing Africa’s capital markets is a key priority for the Private Infrastructure Development Group and Ninety One. In 2020, sub-Saharan Africa, excluding South Africa, contributed just 0.02% to the global stock of international bonds. This presents a tremendous opportunity for global investors and ambitious businesses to increase access to growth capital from debt capital markets. 

  • ProFuturo and American Tower Expand Agreement in Africa to Bring Educational Innovation with Technology to Nigeria

    ProFuturo and American Tower Expand Agreement in Africa to Bring Educational Innovation with Technology to Nigeria

    …the alliance seeks to generate a positive impact on the lives of nearly 30,000 children in Africa and Latin America

    American Tower, a global leading provider of digital communications infrastructure and ProFuturo, a digital education program promoted by Telefónica Foundation and ¨la Caixa¨ Foundation jointly announce the expansion of their alliance to Nigeria to foster digital inclusion through Digital Communities in schools in Africa. After a successful roll-out in Kenya, the program is expanding to Nigeria to continue transforming children’s education through technology with the global objective of reducing the educational gap.

    This global agreement between American Tower and ProFuturo aims to support underserved communities by implementing social programs that enhance quality of life and promote equitable access to the digital world.

    Thanks to this expansion to Nigeria, the collaboration is set to positively impact nearly 30,000 children from vulnerable communities in Kenya, Nigeria, and parts of Latin America by providing quality digital education through educational innovation projects with technology.

    The footprint of this project not only covers the education to be received by the students, but also the training to be delivered to more than 1,000 teachers who will facilitate the roll-out of the training to the children in Africa and Latin America. The impact of this project will be truly far-reaching as it will not only transform access to digital education but will also create a large international network of educators who teach, learn and share knowledge to achieve, together, better education in the world.

    Mneesha Nahata, SVP, Legal & Chief Sustainability Officer of American Tower Corporation, stated: “At American Tower, we are deeply proud to strengthen our partnership with ProFuturo, expanding our commitment to bring educational innovation with technology, through our Digital Communities program. This collaboration not only reflects our dedication to bridging the digital divide in Africa and Latin America, but also our commitment to empowering thousands of students and teachers with tools that will transform their futures. Together, we are building a strong foundation for lasting impact, where technology and education come together to create real opportunities for development and progress.”

    Magdalena Brier, Managing Director of ProFuturo, points out that this agreement highlights the enormous potential of these types of alliances in favor of digital inclusion and how they contribute to strengthening the positive impact of educational projects on the ground, such as what ProFuturo has been developing since 2016. She said “In this way, education with technology has enormous potential to help reduce the educational gap, thanks to its reach and capacity for inclusion, bringing high-quality content to the most difficult environments, which would be very difficult to access in any other way.”

    American Tower’s Digital Communities are digitally connected, technology-enabled spaces that offer digital literacy and youth education, financial literacy and adult vocational training, or health care services.

    Following the principles established by the United Nations Global Compact and the Sustainable Development Goals, American Tower and ProFuturo share the same vision: Access to quality education in complex environments is essential to reduce poverty and inequality in the region. Through this strategic collaboration, it is expected to encourage and promote an increase in knowledge, while promoting innovative practices and strengthening educational digital transformation in the coming years.

    Suzette Victor, Director, Sustainability, ATC Africa, stated: “In Africa, closing the digital divide is crucial to ensuring that no one is left behind and our partnership with ProFuturo will strengthen our resolve to reach individuals in underserved communities with the transformative power of technology in education. The expansion of this partnership to Nigeria will not only address immediate educational needs but will also lay the groundwork for a future where every child has the opportunity to succeed, regardless of their circumstances.”

  • Absa Closes $150 million Finance Facility with British International Investment

    Absa Closes $150 million Finance Facility with British International Investment

     Absa has successfully secured a $150 million facility from British International Investment (BII) plc as part of its mission to help close the trade finance gap in Africa. BII is the UK’s Development Finance Institution (DFI) and impact investor, focused on providing patient capital to foster productive, sustainable, and inclusive economies. Absa, as the borrower in this transaction, will utilise the funds to support this objective, with a specific focus on the African continent.

    “Our unyielding commitment to the success of the continent continues to drive us to find solutions to serve our customers by addressing Africa’s trade finance gap, focusing on sustainable funding,” said Mosa Tshabalala, Head of FI Trade Sales (International), Risk Distribution, and Syndication at Absa CIB. “Our role as a Pan-African bank is to channel the funds to reach our client base across our chosen markets. We continue to forge partnerships with DFIs, insurance companies, other commercial banks (locally, regionally, and globally), ECAs, and institutional investors to drive market access and provide the funding necessary to support our customers’ growth ambitions.”

    Africa’s trade finance gap is estimated to be between $100 billion and $120 billion. By partnering with BII, Absa is making strides in advancing the efforts of the African Continental Free Trade Area (AfCFTA) agreement, which aims, among other objectives, to reduce the continent’s trade finance gap. In addition, this transaction enables Absa to extend liquidity to clients across various geographies and trade product sets that are in high demand.

    These funds are ringfenced for financing trade transactions, with a focus on sustainable funding. This includes, but is not limited to, supporting small and midsize enterprises (SMEs) founded by youth and women engaged in intra-African and global trade. 

    This aligns with Absa’s goal of concluding R100 billion in sustainability-related transactions by 2025.

    “Our extensive presence across the continent, combined with our global reach, enables us to facilitate the flow of capital and trade finance that African businesses need to scale and compete internationally. By leveraging our cross-border expertise and strategic partnerships, we are driving sustainable growth and creating new opportunities in emerging markets, contributing to the broader development of Africa’s economic ecosystem,” said Charles Russon, Interim Group Chief Executive Officer, Absa.   

    Absa’s long-standing partnership with BII reflects the depth of their relationship and shared vision for driving growth in emerging markets. Since 2019, the partnership has provided much-needed trade liquidity in countries such as Ghana, Nigeria, Kenya, Uganda, Tanzania, and Mozambique – supporting over $1 billion in trade volumes, including over the course of the COVID-19 pandemic, which severely strained trade liquidity in Africa.

    The UK’s Development Minister, Anneliese Dodds said, “I am happy to see BII support Absa through this important facility, which is part of a long-standing partnership to help fill Africa’s estimated $100bn to $120bn trade financing gap. Today’s signing demonstrates BII and Absa’s continued commitment to addressing that pressing challenge together, focusing on sustainable and inclusive economic growth.”

    Admir Imami, Director, Head of Trade & Supply Chain Finance, BII added “We are delighted to continue our partnership with Absa which is based on a shared ambition to progress inclusive and economic development, particularly for underserved groups including SMEs and women. The facility combines BII’s long history of support in Africa with Absa’s cross-border expertise, which will help to make trade finance more accessible to African businesses and improve the vital flow of essential goods including food.”

  • “Collecting Now” Exhibition opens at The Shyllon Museum Of Art, Pan-Atlantic University

    “Collecting Now” Exhibition opens at The Shyllon Museum Of Art, Pan-Atlantic University

    The Yemisi Shyllon Museum of Art (YSMA) at Pan-Atlantic University is proud to announce the opening of Collecting Now: Perspectives on Contemporary Art Collecting in Nigeria on Saturday, October 26, 2024. This groundbreaking exhibition offers a unique insight into the personal and curatorial journeys of six influential Nigerian art collectors, whose passion, vision, and dedication have been instrumental to shaping the landscape of contemporary Nigerian art.

    Recognizing collectors as vital figures in the art ecosystem, the exhibition features works from Prince Yemisi Shyllon, Kola Aina, Gbenga & Aisha Oyebode, Dotun Sulaiman, Adeniyi Adenubi, and Eyamba Dafinone. Leading the group is foremost collector, Prince Yemisi Shyllon, whose transformative contributions to the museum and the Nigerian art world have helped elevate the status of Nigerian art on a global scale. His collection, along with those of the other collectors, provides a fascinating exploration of what, why, and how they collect, revealing the personal philosophies behind their collecting practices.

    “Collecting Now isn’t just about displaying beautiful artworks; it’s about exploring the vision and passion of six remarkable collectors,” said Dr. Jess Castellote, Director of the Yemisi Shyllon Museum of Art. “These collectors are not just buyers; they’re patrons and storytellers, playing a vital role in shaping what contemporary Nigerian art looks like today and how it will be remembered tomorrow. Their collections are a reflection of their deep commitment to supporting artistic expression, preserving cultural heritage, and shaping the future of contemporary Nigerian art.”

    The exhibition presents over 80 carefully curated works, spanning painting, sculpture, and mixed media. These works reflect the multiplicity of voices within contemporary Nigerian art, offering visitors a rare opportunity to engage with the diverse tastes and curatorial visions of the participating collectors. As “gatekeepers” of artistic expression, these collectors have played a pivotal role in elevating Nigerian art, not only within the country but also on the international stage.

    “The Collecting Now exhibition offers more than just a view of contemporary Nigerian art; it delves into the profound impact we have, as collectors, in shaping the artistic canon,” added Mr. Kola Aina, Chairman of the YSMA Advisory Board and a participating collector of the exhibition. “The discerning choices of collectors help to preserve our cultural heritage and promote the vibrant expressions of African art.”

    Collecting Now runs from October 26, 2024, to February 28, 2025. The public is invited to the opening reception on Saturday, October 26, at 02:00pm at the Yemisi Shyllon Museum of Art, Pan-Atlantic University. Admission is free.

  • Google Highlights the Digital Opportunity in Nigeria- Report

    Google Highlights the Digital Opportunity in Nigeria- Report

    …$1.8 Billion in Economic Activity Generated by Google Products in 2023

    A new report released today by Google, conducted independently by Public First, underscores the significant economic impact of digital technologies in Nigeria. The Digital Opportunity of Nigeria report outlines how Google’s products and infrastructure are driving digital transformation and contributing to economic growth across the country.

    With Nigeria experiencing rapid digital development, the report highlights the potential for further growth. According to the study, every $1 invested in digital technology in Nigeria generates over $8 in economic value. This emphasises the critical role of digital technology, including connectivity, cloud computing, and artificial intelligence (AI), in shaping Nigeria’s economic future.

    Key Findings from the Report:

    • Every $1 invested in digital technology in Nigeria contributes $8 to the country’s economy, illustrating the high return on investment in the sector.
    • In 2023, Google’s products and services—including Search, Ads, YouTube, and Cloud—contributed an estimated $1.8 billion in economic activity across Nigeria. This has significantly boosted the productivity of Nigerian businesses, creators, and workers.
    • Google’s digital skills programs, including Digital Skills for Africa and the Career Certificates Program, have helped millions of Nigerians, with over 1.5 million young adults learning new digital skills in 2023 alone.
    • The report estimates that AI could increase Nigeria’s economy by an additional $15 billion by 2030, with Google’s commitment to responsible AI development set to play a pivotal role.

    In 2021, Google committed $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation. The Nigeria Digital Opportunity report illustrates how these investments are already creating lasting impacts in the country.

    The report also provides strategic recommendations for policymakers, advocating for increased cloud-first policies and enhanced digital infrastructure to maximise AI’s potential in Nigeria. Additionally, it highlights the need for stronger STEM education and AI fluency to prepare Nigeria’s workforce for the future.

    Quotes: Olumide Balogun, Director, West Africa at Google, stated:“We’re thrilled to see the positive impact that digital technology is having on Nigeria’s economy. This report underscores the importance of continued investment in digital skills and infrastructure to unlock the full potential of Nigeria’s vibrant digital economy.”

    Amy Price, Director and head of Technology Policy at Public First, added, “Nigeria is a digital frontrunner in Africa, and tech investment will be a powerful catalyst for further growth and development across the country. This is particularly true when it comes to connectivity, cloud computing, and artificial intelligence.”

  • 8th ACT Foundation Breakfast Dialogue Set to Bring Together Multi-Sectoral Leaders in Africa to foster Collaborative Leadership for Sustainable Development

    8th ACT Foundation Breakfast Dialogue Set to Bring Together Multi-Sectoral Leaders in Africa to foster Collaborative Leadership for Sustainable Development

    After seven (7) remarkable years of inspiring actionable solutions, and driving sustainable development in Africa, Aspire Coronation Trust (ACT) Foundation prepares to convene another transformative Breakfast Dialogue (BFD) on Thursday, October 10, 2024.  

    Breakfast Dialogue has earned its place as a leading platform for thought leadership, and a cornerstone of meaningful conversations, drawing stakeholders from diverse sectors, to share best practices, and forge partnerships that will drive positive change across the continent. This year, the event takes on even greater significance as it seeks to promote cross-sectoral collaboration and enhance leadership skills that will drive sustainable development in Africa.

    Themed ‘Collaborative Leadership: Bridging Sectors for Sustainable Development in Africa’, this year’s Breakfast Dialogue aspires to bring together a rich tapestry of experts from various fields, joining forces to uncover cutting-edge strategies for harnessing collaborative leadership towards sustainable development.

    As Osayi Alile, CEO, Aspire Coronation Trust Foundation aptly puts it, “No single entity, be it government, private sector, or even a well-funded nonprofit, can tackle the challenges in Africa. It is in the collective power of partnerships, collaboration, and platforms that we unlock the true potential for building a sustainable world.”

    Her words highlight the significance of the upcoming 8th Breakfast Dialogue, poised to revolutionise traditional leadership models, fostering a new era of collaboration, innovation, and sustainability.

    The event’s keynote speaker, Ricardo Michel, Co-Chief Executive Officer of The Palladium Group, will unravel the intricacies of collaborative leadership, and its transformative impact on sustainable development. He will be joined by an esteemed lineup of speakers, including Susan Davis, Equitable Philanthropy Advisor; Aline Varre, Director of Strategy & Business Development, PIND Foundation; Thelma Ekiyor- Solanke, Chairperson, Nigeria Office for Philanthropy & Impact Investing (NPO); Vincent Otieno Odhiambo, East Africa Regional Director, Ashhoka; Nneka Okekearu, Director, Enterprise Development Centre, Pan Atlantic University; Francis Okoye, Faculty Member, Lagos Business School, and Bankole Oloruntoba, CEO, Nigeria Climate Innovation Center.

    A major highlight of the day will be the grand reveal of the finalists and winners of the 2024 ACT Foundation Changemakers Innovation Challenge. These exceptional individuals and organisations will secure grant funding and technical support from ACT Foundation, empowering them to amplify their innovative solutions and projects within targeted communities.

    Interested participants can click here to register for the event.

  • CASON Tackles Church Governance, and Succession Issues

    CASON Tackles Church Governance, and Succession Issues

    The Church Administrators Society of Nigeria (CASON) has addressed challenges that many churches face in terms of governance and succession planning, in a spirited effort to get church leaders ready to comply with the agitation of government for legal and moral accountability, otherwise risk the penalties of non-compliance.

    Speaking to the 2024 CASON theme, “Church Governance and Succession Planning,” at the 11th annual conference held at the Pistis Hub, Maryland, Lagos, and sharing her personal experience, Senior Pastor, The Carpenter’s House, Mrs. Nkechi Ene said that picking the successor of a church founder or head pastor is not a filial matter.

    “A son is not automatically spiritual or called by God to lead a church, simply because his father is. Rather, there are at least five parameters that must be considered when choosing a successor. One, the call of God should take pre-eminence over the expectation of the congregation.

    “It should also take pre-eminence over family and filial relationship, over seniority in church or family hierarchy, over individual skills – for the Lord still confounds the wise with simple things and people. Number five, the call of God should take pre-eminence over gender. We all must understand that it is not a luxury to be called of God” Ene said.

    Pastor Ene who was interviewed on stage by the President of CASON, Pastor Seyi Oladimeji, spoke from experience as successor to the late founder of The Carpenter’s Church, Pastor Charles Omofomah.

    Other guest speakers at the conference were the CEO, Eximia Realty Company, Dr. Hakeem Ogunniran and Senior Lecturer, Lagos Business School, Dr. Nkem Iheanachor, on Church Governance; and the Deputy Head of Operations, StanbicIBTC Bank, Mrs. Funke Amobi on Succession Planning.

    The Chairman, Lagos Chapter of the Christian Association of Nigeria (CAN), Bishop (Dr) STV Adegbite, and the Director, Babcock University Centre for Executive Development, Dr. Ayodeji Ajibade also gave goodwill speeches at the conference. CASON-certified Church Administrators came in from different parts of Nigeria to attend the conference.

  • Antimicrobial Resistance: New Report Warns of Growing Threat

    Antimicrobial Resistance: New Report Warns of Growing Threat

    A new report by Africa CDC warns that antimicrobial resistance (AMR) is becoming a more significant threat to Africa than HIV-AIDS, tuberculosis, and malaria, with children and vulnerable groups most at risk. These three diseases combined now account for fewer deaths than AMR, which has a mortality rate of 27.3 deaths per 100,000 people, making it the highest in the world.

    Released ahead of the United Nations General Assembly High-Level Meeting on AMR in New York in September 2024, the report highlights the need for global stakeholders to address the escalating crisis. The meeting is expected to serve as a platform to make commitments and coordinate a global response. One urgent priority is mobilising resources to develop national action plans, particularly in countries lacking them.

    AMR occurs when microorganisms—such as bacteria, viruses, fungi, and parasites—resist antimicrobial drugs, rendering treatments ineffective. This resistance is fuelled by the misuse and overuse of antibiotics in healthcare, agriculture, and food systems. The result is harder-to-treat infections, leading to more illness, disability and death.

    Dr Jean Kaseya, Director General of Africa CDC, described AMR as a “silent threat” disproportionately affecting the continent’s most vulnerable populations. Addressing this issue will require significant financial investment, with an estimated USD 2-6 billion needed annually. However, current funding remains only a fraction of what is allocated to other major diseases, leaving Africa exposed to this growing crisis.

    Globally, drug-resistant infections currently claim around 700,000 lives annually, and this figure is projected to rise to 10 million by 2050 if left unchecked. Africa could account for 4.5 million of these deaths. Africa CDC’s efforts aim to shape a roadmap to combat AMR, which will be presented at the UN meeting as a global call to action.

    Dr Huyam Salih, Director of the African Union-Interafrican Bureau for Animal Resources (AU-IBAR), emphasised that AMR threatens health and agrifood systems, food security, and economies. A joint study by Africa CDC and the African Society for Laboratory Medicine found that only 1.3% of microbiology labs in 14 member states can test for key AMR pathogens. Dr Kaseya called for a multi-sectoral approach, including infection prevention, strengthening healthcare and food systems, and investing in diagnostics and laboratory infrastructure. Without coordinated efforts, AMR will continue to impede progress toward the Sustainable Development Goals and the African Union’s Agenda 2063.