Algy Cluff has been at the heart of the extractives industry for close to 50 years and shows no sign of slowing down. Despite retiring earlier this year, he is in the process of launching a new African venture, Cluff Energy Africa Ltd. This comes in addition to writing three books, producing his own sparkling wine and heading up his charity, The Remembrance Trust. In the wake of the publication of his third volume, ‘By The Way…,’ Invest Africa sat down to speak to him about the history of Cluff Resources, the evolution the oil and mineral industries in Africa and what the future holds.
The fintech industry in Africa is predicted to be worth $3 billion by 2030 and some of the most successful African start-up stories of the last decade have built their business models on mobile money. We spoke to Milkah Wachiuri, Chief Growth Officer at Cellulant, a leading pan-African digital payment platform, about the impact of fintech on African markets and how Cellulant plans to scale-up its business.
‘Kobo360 is using technology to connect cargo owners, truck owners, drivers and cargo recipients.’ Logistical challenges are often cited by businesses as a major impediment to building scaled-up and profitable operations in Africa. We spoke to Ife Oyedele II, Co-Founder of Kobo360, about how technology is breaking down barriers to trade in Africa and his ambitious vision to expand Kobo360 across the continent.
The AfCFTA is Africa’s most ambitious attempt yet to kick-start regional integration and trade. Its objective is nothing less than to unify the continent’s eight regional economic blocs into a single market of 1.2bn people, worth up to $3tr.
As policy uncertainty reigns in Westminster, we spoke to Her Majesty’s Trade Commissioner for Africa, Emma Wade-Smith OBE, about why Africa matters to the UK, the future of British-African trade, and how her team is supporting British businesses on the continent through this time of global instability.
The International Monetary Fund expects growth in sub-Saharan Africa to increase from 3% in 2018 to 3.5% this year, as the region continues a fragile recovery from the commodities slump…. Lanre Akinola, Editor of Nurmara explores how Africa can weather global uncertainty.
The UN General Assembly has declared 2016-2025 the Third Industrial Development Decade for Africa. Yet, Africa’s manufacturing value added accounted for only 1.6% of the global total in 2014. We spoke to Franziska Hollmann, Director of Corporate Finance at the German Development Finance Institution, DEG, about how sustainable industrialisation can be achieved in Africa and crucial role that patient capital plays in this process.
Total foreign direct investment (FDI) into Africa reached $40bn in 2018, up 6% on the previous year. This remains well below levels seen before the commodities slump, which exceeded $60bn in 2015. Read analysis by our content partner, Nurmara, on Africa’s shifting FDI landscape…
Over 600 million Africans do not have access to electricity and yet the continent boasts some of the best solar radiation levels in the world. With this wide array of under exploited opportunities, it is no wonder that private equity firms have been turning to African energy markets. We spoke to Scott Mackin, Managing Partner at Denham Capital about the role that private equity can play in addressing Africa’s energy funding gap.
Our content partner, Nurmara, writes on the impact of tech in Africa, highlighting achievements from the likes of Jumia, Africa’s first big stage tech IPO to list on the New York Stock Exchange and the future of fintech across the continent.
It may be a slow process, but financial inclusion in Africa is improving. Given the barriers formal banking faces on the Continent, including practical issues such as dispersed populations, and regional variations in infrastructure, it is unsurprising that this is not an issue which will be resolved overnight. We spoke to Ibukun Awosika to find out more on First Bank Nigeria's actions on financial inclusion, her thoughts on improving access to banking services – plus the impact of mobile in Africa.
As industrialisation continues to be held as the crucial step towards economic development in Africa, much energy has been poured into the potential for the Continent's manufacturing and heavy industry sectors. The conversation about Africa's industrialisation, however, cannot exclude a crucial driver of its economy – the agricultural sector.
The effect of limited road connections is estimated to add 40% to transport costs in Africa's costal nations – and 60% to landlocked ones. With the rate of population growth and urbanisation outpacing other nations worldwide, the necessity for infrastructure to support African development is vital.
The wave of mobile phone use in Africa has not only connected individuals to each other, but has connected many people to mainstream financial services for the first time. In regions where populations were majority unbanked, access to mobile technology has simultaneously unlocked mobile money, and spurred economic growth in societies previously run on informal, cash-based finance. By the end of 2016, the number of registered mobile money accounts in Sub-Saharan Africa stood at 277 million.
There is a mobile revolution unfolding in Africa - a revolution not only in how people communicate – but how they do business. Throwing off long-held assumptions about Africa’s technological development, the Continent’s populations are taking up the mobile phone – and its access to the internet – in their droves.
There is one way of charting Africa’s turn to connectivity: the rise of the mobile. As many have seen, mobile subscription continues to grow in Africa, outpacing every other region worldwide.
Since 2010, American Tower Corporation have established sites across South Africa, Ghana, Uganda and Nigeria; constructing over 8000 towers as part of their wireless network deployment.
We spoke to Hal Hess, President of Latin America and EMEA at American Tower on the transformation of Africa’s ICT sector, the impact of connectivity on the Continent and markets ATC are most excited about going forward.
With a planned oil refinery project worth $4bn, Fairfax's recent investments have drawn them to East Africa, with an ambitious infrastructure investment looking to provide Ethiopia and it's neighbours with 120,000 barrels of crude oil a day. Through financing as private equity and venture capital, the fund has created a profile of investments across manufacturing, agriculture and infrastructure - including co-investing in Hello-Cash, leading mobile payment platform. By refusing to shy away from the challenges posed by investing in Africa, the fund has focused on high-performing sub-Saharan nations and now enjoys a portfolio of companies employing more than 1,600 people - projected to reach 6,000 by 2020.
- 4G Capital fintech solutions are accelerating financial inclusion in Africa
- US $26M worth of loans disbursed to date
- Customers financial literacy grows with adoption of the service