Uncategorized - Afrikan Heroes

Agility and Education for Employment (EFE) Partner to Deliver AI Training in Egypt

February 1, 2024

Frank Clary, Agility VP of Sustainability

Agility, a global leader in supply chain services, infrastructure and innovation, announced a partnership with Education for Employment (EFE) that will offer training in use of artificial intelligence to 3,500 young people in Egypt.

The training is intended to familiarize young men and women from underserved populations in Egypt with artificial intelligence concepts, tools and ethical considerations. It is designed to give them a competitive edge in the job market by teaching them to harness the power of transformative AI technology.

Underemployment or lack of entrepreneurial opportunities inhibit economic and social development. EFE’s skills development programs provide young people with opportunities to gain employment or start their own businesses. These lead to greater prosperity, stability and social and economic development.

Frank Clary, Agility VP of Sustainability, said the company is supporting EFE’s free employment and job skills training so that attendees can better understand how to use AI for job searches and tasks they may need to perform in the course and scope of employment or business management.

“AI literacy is quickly becoming a priority area for recruiters. EFE and Agility are committed to making training available to young people who would otherwise not have access to it. Our shared goal is to create a future-ready workforce for Egypt and the broader Middle East because employment and entrepreneurial skills enable development, prosperity and stability,” Clary said.

Andrew Baird, EFE-Global CEO, said: “EFE targets young people from underserved populations who are unemployed and having difficulty getting jobs. This training plays an important role in bridging the gaps in formal education and development of social capital.”

EFE training participants undergo a selection process and are accepted into programs based on motivation and socio-economic background. Priority is given to those most in need. Of the 3,500 individuals taking part in the Agility-sponsored AI course in Egypt, at least half are young women. EFE’s AI curriculum includes basic concepts of AI, its applicability at work, ethical considerations, responsible use of online information, and use of AI tools in job searches.

In Egypt, Agility has also partnered with UNHCR to fund education for refugee children. Agility has been working with UNHCR since 2016. Its partnership with UNHCR in Egypt has paid for tuition, transportation, uniforms, books, stationery and devices such as computers for roughly 1,800 school-age children.

Egypt currently hosts about 473,000 registered refugees and asylum-seekers from 62 nationalities, most from Syria, Sudan, South Sudan, Eritrea, Ethiopia, Yemen, Somalia and Iraq.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Radisson Announces First Safari Hotel in South Africa

Tim Cordon, Chief Operating Officer, Middle East, Africa and SEAP, Radisson Hotel Group

Radisson Hotel Group is proud to announce the opening of Radisson Safari Hotel Hoedspruit, its first Safari hotel in Africa and 11^th hotel in South Africa. Tucked between two renowned nature reserves, Kruger National Park and Blyde River Canyon, the hotel is located 2km outside of Hoedspruit in the heart of the grasslands in the Limpopo province and just 20 minutes from Eastgate Airport.

Boasting majestic views of the Drakensberg mountains, the highest mountain range in Southern Africa, Radisson Safari Hotel Hoedspruit is surrounded by endless destination-immersing activities. Guests can take part in bucket-list safari adventures to spot local wildlife such as lions, rhinoceros, and elephants, go trekking on horseback, or take in the sprawling landscape from a hot air balloon.

Radisson Safari Hotel Hoedspruit offers a range of room types from standard rooms with garden and mountain views to Premium Suites featuring their own private pools and relaxing outdoor seating areas to take in the natural landscape. With a contemporary Scandinavian design, the hotels 138 rooms and suites provide a calming setting with natural materials, wooden details and rich, earthy colors that pay homage to its African surroundings.

At the thatched roof restaurant, Mirage, guests can enjoy South African and Lebanese-inspired cuisine on the restaurant’s wrap-around deck, with convenient access to a sunbathing area and pool in the summer, as well as an outdoor fireplace on cooler evenings. Pegasus restaurant offers fresh and wholesome Mediterranean, Italian, Mexican, and American-inspired dishes as well as gourmet ice cream and frozen cocktails, served alongside the adults-only swimming pool. At the hotel’s third restaurant, Boma, guests can indulge in some of Africa’s most popular delicacies such as the local sausage, Boerewors; Bobotie; and selection of game meat, while listening to the soothing crackling of the fire and stargazing in the clear night’s sky.

“We are thrilled to open the doors of our first safari-inspired hotel in South Africa. The opening of Radisson Safari Hotel Hoedspruit marks our 11^th hotel opening in South Africa and completes our own Golden Triangle Safari offering with exquisite properties in Cape Town and the recently opened Radisson Blu Resort Mosi-oa-Tunya in Livingstone,” said Tim Cordon, Chief Operating Officer, Middle East, Africa and SEAP, Radisson Hotel Group.

“My team and I are thrilled to introduce the world to the perfect combination of hospitality with Radisson’s renowned Yes I Can! Service philosophy and our unmatched safari-inspired setting. Our extensive offering will ensure guests have an unforgettable experience whether they are enjoying a family holiday, a serene couples escape, or a meeting and event in a unique backdrop,” said Charles McCarthy, General Manager of Radisson Hotel Safari Hoedspruit.

Featuring a planter roof and inspiring views of the surrounding grasslands, Radisson Hotel Safari Hoedspruit will offer a tranquil and rejuvenating escape at its Amani Spa. Guests can indulge in a variety of pampering treatments in the spa’s five treatment rooms including a private couple’s suite. The spa also features a health bar, hair and nail salon and a soothing steam room. A 24-hour fitness center is also accessible to guests looking to stay active during their stay and offers the latest modern cardio and strength training equipment.

The hotel’s versatile meetings and events spaces consist of five different meeting venues, including comfortable boardrooms, meeting rooms, and a main banquet hall that can accommodate up to 200 guests.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

China Expresses Full Support for Global South

January 30, 2024

The Chinese Ambassador to Kenya, Dr. Zhou Pingjian has conveyed the Chinese government’s and people’s full support for the Global South. In an article published this week, the ambassador states that the 19th Non-Aligned Movement (NAM) Summit and the Third South Summit, held recently in Uganda, were a testament to the enduring strength of multilateralism and cooperation among developing nations.

These summits convened a diverse array of high-level dignitaries, including heads of state and government, reaffirming the NAM’s vital role in shaping the future of the Global South.

Among the leaders present was Liu Guozhong, President Xi Jinping’s Special Representative who is also a Member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council of China. His presence underscored China’s steadfast commitment to standing alongside and supporting developing countries through both prosperous and challenging times.

In his address at the summit, Vice Premier Liu Guozhong highlighted the importance that China places on its collaboration with other developing nations. Guided by the overarching vision of building a community with a shared future for mankind, China is resolute in implementing the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative, and promoting high-quality Belt and Road cooperation, while upholding the common values that unite all of humanity.

China advocates an equal and orderly multipolar world and seeks to promote universally beneficial and inclusive economic globalisation, ultimately leading the world towards a future characterised by peace, security, prosperity and progress.

As the world’s largest developing country, a dedicated partner of NAM, and a member of the Global South, China remains committed to the collective advancement of all developing nations. Vice Premier Liu reiterated China’s steadfast support for fellow developing countries, especially medium-sized and smaller nations, and its unwavering dedication to the common development of the Global South.

China’s commitment to the Global South is palpable through its extensive support for infrastructure development in African countries, including Kenya. This support is underpinned by the principles of mutual benefit and win-win cooperation, aligning seamlessly with the core values of NAM and the broader South-South cooperation framework.

This year marks the 60th anniversary of the Group of 77 (G77), an important coalition of developing nations. Over the past six decades, Global South countries within the G77 have charted a path marked by equality, mutual trust, mutual benefit, solidarity and mutual assistance. Independence continues to define the political landscape of these nations, while the tradition of seeking strength through solidarity remains a source of pride.

It was clear from the summit that development and revitalization stand as their historical mission, and fairness and justice are the shared aspirations that unite them. In today’s rapidly evolving world, characterised by unprecedented transformations, Global South countries are confronted with a complex international environment.

It is imperative that they continue their efforts to explore the path to modernisation, promote higher-level South-South cooperation, actively engage in the reform of the global governance system, and deepen the global partnership for development that is united, equal, balanced and beneficial to all.

As China’s Ambassador to Kenya, I am honoured to witness China’s unwavering commitment to supporting the development of Kenya, Africa, and the entire Global South. The 19th NAM Summit sends a powerful message of solidarity and cooperation among nations striving for common prosperity. China stands firmly with them on this shared journey towards a brighter future.

In the spirit of unity and collaboration, let us continue working together to build a brighter future for all, characterised by equality, fairness and justice where the common values of humanity are upheld and the dreams of shared development are realised.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Ethiopian Teachers Harness Power of Chinese Language to Bridge Cultures

January 22, 2024

In the bustling classrooms of special boarding schools across Ethiopia’s Oromia region, local Chinese language teachers are engaged in an exciting educational journey, harnessing the power of language to bridge cultures.

Fitsum Mussa, who studied Chinese language at Dalian University in China, is one of the pioneer local Chinese language teachers playing a pivotal role in shaping the future of their students while fostering stronger cultural connections between Ethiopia and China.

Over the past two years, Mussa has taught Chinese to more than 250 students at Arsi Special Boarding School, one of nine special secondary schools in the Oromia region. Here, students voluntarily choose from Chinese, Arabic and French, in addition to English, as their preferred foreign language studies.

“I remember the innovative ways that our Chinese teachers used to boost our interaction and learning capabilities during our early days learning the language. The first steps were relatively difficult until we were eventually able to better interact and communicate with our teachers,” Mussa recalled. “Now, these school children are learning Chinese with the help of their mother tongue, Afan Oromo. This makes the teaching-learning process much easier for them, and I find it significantly constructive for their language acquisition.”

Courtesy of deepening Sino-Ethiopian ties, interest in studying the Chinese language is growing fast among Ethiopians, particularly the country’s youth.

Seyoum Kebede, head of the special schools development division at the Oromia education bureau, said the Chinese language is the most desired language among students, with over 1,230 secondary school students choosing Chinese as their preferred foreign language study.

“Our Ethiopian Chinese language teachers, who have mastered the language with the help of Chinese instructors, are tapping into their unique understanding of both Ethiopian and Chinese culture to make the teaching and learning process more effective and interesting for our students,” Kebede said.

These teachers not only possess a deep understanding of Ethiopian culture but also have insight into the nuances of the Chinese language and culture, making them effective conduits for communication and cultural exchange.

The Confucius Institute at Addis Ababa University (AAU) has been instrumental in enhancing the capacity of Ethiopian Chinese language teachers. Through a series of training sessions, the institute has equipped the teachers with the necessary skills to teach Chinese properly.

A four-day training program, starting Wednesday, is held at AAU to promote the local teachers’ capabilities in mastering the four important aspects of teaching Chinese: grammar, phonetics, vocabulary and characters, according to Gao Lili, the director of the Confucius Institute at AAU.

“We are helping local schools to improve their teaching quality while maintaining a balance between their teachers’ language proficiency and effective pedagogy,” Gao said.

A significant milestone in maintaining the balance between teachers’ language proficiency and pedagogy is the recent introduction of the first-ever local Chinese language textbook, dubbed “Hello, Chinese,” featuring Chinese-Amharic and Chinese-Afan Oromo languages.

Derartu Tesfaye, a teacher at Ambo Special Boarding School, reflects on the effectiveness of using local languages to facilitate teaching Chinese.

“Using local elements significantly made my teaching endeavor much more convenient, and it helped my students easily grasp the subject,” said Tesfaye, one of the 10 teachers participating in the training program at AAU.

Tesfaye’s assertion was also shared by Mussa as he recalled a phenomenon that highlighted the unique significance of harnessing local Ethiopian languages and culture in teaching Chinese.

“I remember when I was learning the Chinese language, it almost took me three months to learn the phonetics. To my surprise, my students were able to accomplish this task in about a month,” Mussa said.

The impact of these efforts is also evident in students’ remarkable achievements.

Gurmessa Getachew, who has been teaching Chinese to some 286 students at Ambo Special Boarding School during the past two years, proudly said that 282 of his students passed their first and second-level Chinese Proficiency Test, Hanyu Shuiping Kaoshi (HSK), setting a profound acclaim to Getachew’s teaching endeavor.

With their newfound Chinese language skills, students of the special boarding schools are also opening doors to a world of opportunities.

Kebede said that learning the Chinese language “opens a window of opportunity for students to realize their dreams through abundant scholarship opportunities to pursue their education in China.”

These Ethiopian Chinese language teachers are not only shaping the linguistic abilities of their students but also forging stronger bonds between Ethiopia and China, paving the way for a brighter future of cultural understanding and collaboration.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Triodos IM Continues Fintech Expansion, Invests $2.1M in South African FinTech UsPlus for Sustainable Impact

January 3, 2024

Triodos Investment Management (Triodos IM) has expanded its presence in the fintech sector within emerging and developing markets. The Triodos Microfinance Fund and Triodos Fair Share Fund have jointly provided a debt facility of EUR 2 million ($2.1M) to UsPlus in South Africa. UsPlus is a high-impact tech company specializing in offering flexible working capital solutions to the Small and Medium Enterprises (SME) sector.

In alignment with the latest generation of fintech companies in South Africa, UsPlus endeavors to leverage technological advantages to target financially excluded businesses and entrepreneurs profitably. Established in 2015, the company focuses on providing alternative funding solutions to SMEs through discounting products. This financing method enables SMEs to sell their invoices to a third party at a discounted rate, allowing them immediate access to cash. The innovative aspect of this product lies in its ability to provide SMEs with easy and rapid access to working capital, which would otherwise be tied up in unpaid invoices. UsPlus has facilitated approximately USD 133 million in funding to SMEs through its debtor discounting product.

Investment Officer Stanley Anyetei expressed, “This investment in UsPlus demonstrates Triodos Investment Management’s ongoing commitment to investing in innovation for financial inclusion, addressing the access to finance gap across the African continent. We eagerly anticipate collaborating with the UsPlus team to deepen our impact on this continent by contributing to inclusive economic growth.”

UsPlus acquires clients through various channels, including word of mouth, industry meetings, accountancy firms, and their web portal. Each client must be legally registered with a minimum track record of three fiscal years and undergo an assessment of debtors/supply agreements. UsPlus also ensures that potential clients do not engage in activities negatively impacting the environment and social issues, based on the IFC Exclusion list. Once these criteria are met, UsPlus initiates the access process, analyzing the client’s operational performance, among other factors. The entire process, except for the client visit, is conducted digitally, minimizing the timeline to disbursement. The maximum turnaround time is one week for new clients and half a day for existing clients.

UsPlus has demonstrated operational performance and resilience over the past eight years. The debt facility provided by the Triodos IM financial inclusion funds aims to support this innovative fintech in scaling up and diversifying its funding base, thereby further enhancing support for the underserved SME sector in South Africa.

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Kenya’s BasiGo Charges Ahead with $5 Million Debt Funding for Electric Bus Expansion

December 6, 2023

BasiGo, an electric bus company active in Kenya and Rwanda, has secured $5 million in debt funding from the British International Investment (BII), the UK’s development finance institution and impact investor. In a departure from equity funding, where ownership is exchanged for capital, debt funding involves borrowing money that must be repaid under agreed-upon terms. BasiGo will utilize the funds to expand its electric bus assembly operations in Kenya, aiming to deliver a total of 100 buses within the country. Currently, the company has 19 buses operating on the streets of Nairobi, managed by various matatu (privately-owned mini-bus) companies.

Jonathan Green, the co-founder and chief financial officer of BasiGo, emphasized the transformative potential of electrifying public transport in Kenya, driven by the country’s abundant renewable energy resources.

BasiGo adopts a unique pay-as-you-drive model, offering its electric buses to matatu companies. Customers can choose to purchase an electric bus without a battery for a reduced upfront cost or opt for a pay-as-you-drive subscription, which includes battery lease coverage. This subscription also provides benefits such as free charging at BasiGo’s stations and maintenance. The K6 electric bus is initially priced at $35,600, with a subscription cost of $0.14 per kilometer.

In 2022, BasiGo successfully raised nearly $11 million. Within three months of its launch in Kenya, the company secured $4.3 million in seed funding, led by Novastar Ventures. This was followed by a further $6.6 million in equity funding in November 2022, with Novastar, Mobility54, and Trucks.vc leading the round. Additionally, BasiGo received a $1.5 million grant from the United States Agency for International Development (USAID) in November 2023 to support its pilot initiative in Kigali, Rwanda.

Founded in 2021 by Jit Bhattacharya and Jonathan Green, BasiGo aims to offer over 1,000 mass transit electric vehicles to Nairobi’s transportation operators in the next five years. The company will provide drivers with pay-as-you-drive credit options, along with maintenance and charging services, to encourage the adoption of electric vehicles.

BasiGo’s upcoming pilot program, set to launch next month, aligns with the efforts of Swedish-Kenyan EV firm Opibus, which recently introduced its first locally-manufactured electric bus in Kenya. Both companies target the mass transit industry, which is progressively transitioning to cleaner energy sources.

BasiGo plans to assemble its electric buses in-house, sourcing components from China’s BYD Automotive. These buses will be available in 25 and 36-seater configurations, boasting a range of approximately 250 kilometers. The recent announcement by the Kenyan government that its Bus Rapid Transit (BRT) network in Nairobi will exclusively operate green vehicles, including electric, hybrid, and biodiesel, presents a substantial business opportunity for EV manufacturers like Opibus and assemblers like BasiGo. Opibus, previously focused on converting gasoline and diesel vehicles to electric, is now expanding into the creation of new vehicles, including e-motorcycles.

Nigeria’s Payday Yields to Crypto Startup Bitmama in Major Acquisition Deal

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

VC4A Pledges 10x Early Stage Investing in Africa

November 30, 2023

Ben White, founder and director from VC4A

As VC4A commemorates its 10th Anniversary at the Africa Early Stage Investor Summit, the organization reaffirms its decade-long commitment to building vibrant startup ecosystems across the African continent.

A Decade of Impact

Since its inception in 2007, VC4A has been at the forefront of connecting entrepreneurs, fostering visibility, and enhancing accessibility within the startup community. Celebrating a decade of impact, VC4A has witnessed an astounding $11.5 billion in investments in African startups (equity only) between 2019 and 2023 — of which $800 million of that amount has been raised by alumni of only one of the many VC4A programs — a testament to the organization’s dedication to fostering growth and innovation.

Global network and collaboration

The VC4A network spans over +250,000 members across 179 countries, creating a global network of innovators supporting more than 27,000 startups scaling from pre-Seed through to Series A. Through partnerships across the public and private sector, VC4A implements targeted incubation, acceleration and pre-SEED funding programs in countries like Tanzania, Kenya, Somaliland, Nigeria, Ghana and Morocco.

Commitment to the future: 10x Early Stage Investing

Looking ahead, VC4A remains steadfast in its commitment to 10x early stage investing in Africa. The organization is focused on actively growing the pipeline for investment with an open invitation for collaboration extended to partners, investors, and stakeholders ready to drive the next chapter of early stage investing in Africa.

To celebrate this milestone, VC4A hosts investors at the Africa Early Stage Investor Summit (https://apo-opa.co/47WSH2E) #AESIS2023, the premier gathering of Africa-focused investors held annually for the past decade. The organization invites the global community to join hands in supporting the startup ecosystem across Africa, unlocking immense potential, and collectively building the future of innovation on the continent.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Islamic Development Bank Institute Partners Nigerian Exchange Limited to Boost Islamic Capital Markets in Nigeria

November 28, 2023

The Islamic Development Bank Institute (IsDB Institute) joined forces with the Nigerian Exchange Limited (NGX) to deliver an influential Islamic capital markets capacity-building workshop in Lagos, Nigeria. Organized under the theme “Economic Growth and Business Development Opportunities through the Islamic Capital Markets”, the workshop aimed to contribute to deepening the Nigerian capital markets through the listings and issuances of Islamic financial instruments.

The workshop was held on 21 November 2023 and attracted 90 participants from across the Nigerian economic and financial sector. These included the Securities and Exchange Commission, National Pension Commission, Debt Management Office, Lagos State Government, NGX staff, and pension fund administrators. Others were senior representatives from law firms, banks, investment banks, fund managers, leasing and asset management companies, and heads of leading corporate and financial industry associations.

The program commenced with keynote speeches by Mr. Jude Chiemeka (Executive Director, Capital Markets at the NGX), Mr. Dayo Obisan (Executive Commissioner, Operations at the Securities and Exchange Commission), and Dr. Sami Al-Suwailem (Acting Director General, IsDB Institute).

The keynote messages celebrated this important partnership between the IsDBI and the NGX, and highlighted the prominent role that Islamic financial products and services can play in supporting Nigeria’s economic development, including through Sukuk for infrastructure projects, as well as providing liquidity to the corporate sector through equity and fund listings.

The rest of the day featured six interactive and tailored capacity building sessions providing practical knowledge to the participants on Islamic capital markets regulations, products, and services. The sessions included discussions on contemporary issues and practices of Islamic finance in different jurisdictions and enriching the participants’ learning experience with real example case studies and success stories from around the world.

The last session featured an open dialogue between the participants and the IsDBI trainers on practical measures needed to utilize Islamic capital markets to support inclusive economic growth and sustainable business practices in Nigeria. The overall program and its sessions were organized and delivered by two Senior Islamic Finance Specialists at IsDBI: Mr. Syed Faiq Najeeb and Dr. Abozer Mohamed.

A closed-door workshop was also held on 22 November 2023 at the NGX Group House as a roundtable with the two IsDBI trainers and the NGX management and staff, focusing on building the prerequisite enabling environment at the NGX for boosting Islamic capital markets activity.

Overall, this partnership between the IsDBI and the NGX opens doors for a longer-term strategic relationship between both institutions to further develop and deepen the Islamic capital markets in Nigeria.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

BluePeak’s ESG-linked Investment in Prime Logistics Boosts Regional Connectivity

November 27, 2023

BluePeak Private Capital, an alternative asset management firm supporting the growth of scalable businesses in Africa has announced its first ESG-linked investment, a USD 20 million hybrid loan to a leading integrated East & Central African logistics group, Prime Logistics (Prime). The investment will contribute to the sustainable expansion of Prime’s operations in Africa, increasing access to high-quality logistics services while lowering associated emissions and boosting regional connectivity.

Prime combines best-in-class logistics services that include freight, customs clearance, warehousing, inland terminals, overland transport, and supply chain management. By offering the full spectrum of logistics services, Prime can offer an integrated solution to customers ensuring cargo is moved efficiently from source to its ultimate destination.

Prime’s ambitious growth plans seek to strengthen its position as a market leader, serving blue chip customers operating in the growth markets of East & Central Africa and the Middle East. The company operates from its hubs in Dar es Salaam, Mombasa, Kampala, Goma and Dubai bringing regional economic partners closer, while the investment helps the company continue to connect countries including Democratic Republic of Congo, Kenya, Rwanda, Tanzania, Uganda, Malawi, Burundi, and Zambia.

As part of the company’s climate action plan, Prime will strengthen its robust ESG framework and build on innovations that focus on reducing the company’s carbon footprint and efficiency. BluePeak will ensure the investment aligns with the Fund’s sustainability strategy focused on resilience, climate change, and inclusivity. Enhancing equality in a strategic sector, BluePeak’s investment also reinforces gender diversity and will drive the implementation of initiatives to increase female participation in this historically male-dominated sector to break barriers and deliver economic opportunities to women.

BluePeak’s US$ 20 million investment promotes the UN’s Sustainable Development Goal 5 on Gender Equality, Goal 8 on Decent Work and Economic Growth, and Goal 13 on Climate Action.

Commenting on the investment, Rami Matar, Senior Partner at BluePeak said, “Our diversification into logistics is testament to the flexibility and ambition of an investment approach prioritizing sustainable growth of resilient businesses. Partnering with Prime will build on the company’s existing ESG track record, advance the logistics sector, and accelerate the journey to a more sustainable future.”

According to Asif Abdulla, Executive Chairman at Prime LogisticsNigerian Fintech FrontEdge Raises $10 Million to Enhance Cross-Border Trade Financing, “The investment from BluePeak comes at a crucial time as increasing trade flows between East & Central Africa, the Middle East and the rest of the world supports demand for reliable logistics services. The structure of the funding aligns with our commitment to advance economic growth while unlocking sustainable development.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

AfDB Strengthens Partnership With the African Network of Delivery Units

November 23, 2023

The African Development Bank’s (www.AfDB.org) participation in the 2023 Dakar Forum of The African Delivery Units Network, provided a unique platform to share success stories and strategies, and culminated in the signing of a Memorandum of Understanding (MOU), expected to strengthen the network of Africa’s delivery units.

The two-day meeting, held in Dakar, Senegal, was organized in partnership with Senegal’s Presidential Delivery Unit (Bureau Opérationnel du Plan Senegal Emergent) from 9-10 November 2023.

The event brought together representatives of government Delivery Units from 14 African countries, as well as key development partners, including UNDP, UMOA, the World Bank, AFD and Enabel. Delivery units, small, highly skilled teams working at the center of government to help line ministries accelerate delivery of top priority programs and initiatives, have become increasingly popular.

Spearheaded by the African Development Bank and the President Delivery Unit of Senegal (Bureau Opérationnel de Suivi du Plan Senegal Emergent), the African Delivery Units Network was launched in the Senegalese capital in January 2019.

During the forum, participants examined progress made by government Delivery Units in supporting national transformation agendas amid a challenging operating environment.

In a panel discussion on the institutional model of Delivery Units, African Development Bank Acting Director for Development Impact and Results, Armand Nzeyimana, underscored the continued relevance of Delivery Units in a context where prioritization, speed and efficiency in delivery of government flagship programs and reform initiatives remain critical. He urged greater efforts at leveraging private sector financing for large scale infrastructure projects to reduce pressure on sovereign debt.

“Now- more than ever- Delivery Units must respond to the aspiration of the continent for accelerated and efficient public sector delivery, with greater attention to innovative financing solutions for transformational projects,” he said.

The Bank’s Country Manager for Senegal Mohamed Cherif, shared the Bank’s experience in designing and structuring major projects in Senegal through a series of large-scale public–private partnerships or PPPs, including the Blaise Diagne International Airport.

The high note of the Dakar Forum was the signing of the MOU between all 14 Government Delivery Units, formally establishing the African Delivery Units Network. The network will provide a platform for sharing knowledge, experience and expertise on government execution capacity.

Welcoming the “excellent initiative of joining forces by sharing expertise and best practices among delivery practitioners in Africa,” Nzeyimana reiterated the African Development Bank’s support to the African Delivery Units Network as an important vehicle to accelerate Africa’s transformation agenda.

On the margins of the Dakar Forum, Cherif congratulated the Senegalese government for its significant achievements under the country’s national development plan- Plan Senegal Emergent – over the last decade.

The country has tripled energy production capacity, resulting in increased access to electricity from 54% in 2015, to 76% today.

Cherif noted that the Bank’s support to the development plan has shown huge dividends, particularly in boosting the country’s competitiveness through transformative infrastructure projects such as the Dakar Toll Road, the Regional Express Train, the Blaise Diagne International Airport (AIBD) and the Senegambia bridge. These infrastructure facilities have ushered in a new era of connectivity for the country, and the West Africa region.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry