Africa Business, Author at AfricaBusiness.com

27Sep

By Africa BusinessNo Comments

Energy

Elemental Energy signs Africa-focused distribution deal with Hexagon Purus

Elemental Energy has been selected by Hexagon Purus, a world leading manufacturer of zero-emission mobility and hydrogen infrastructure solutions, to distribute its products in Southern and East Africa. The distribution agreement brings leading Type 4 cylinders, multi-element gas containers and hydrogen distribution systems to these markets at a time when the number of green hydrogen projects announced in the region continues to grow. Hexagon Purus’ products will be made available for projects in major markets including South Africa, Namibia and Kenya, amongst others. Michael Patterson, CEO of Elemental Energy, is taking a long view on green hydrogen in the region, “We see huge potential in Africa, not just for production of green hydrogen for export but also for local use cases. ...

26Sep

By Africa BusinessNo Comments

Business, Egypt News, Kenya News, Nigeria News, Startups

Why investment in African healthtech is set for a major decline in 2024

Yomi Kazeem, Engagement Manager at Salient Advisory, and his colleagues explore the alarming trend of declining investments in African healthtech. In 2023, amid a nearly 40% slump in investment across African technology ecosystems, funding for healthtech startups across the continent proved resilient, dropping by only 2% – but that is set to change. Analysis of funding trends in the first of half of 2024 suggests that a major decline in healthtech investment is on the cards, with African healthtech innovations raising only $24 million – a 69% drop compared to the same period in 2023, according to data from Salient Advisory. The drop in funding is driven by a decline in both deal count and value: the number of deals is down by 47% in the first half of 2024, and the average ticket size...

25Sep

By Africa BusinessNo Comments

Africa Travel

Virgin Atlantic to open iconic clubhouse in Los Angeles

Virgin Atlantic has announced that it will open its iconic Virgin Atlantic Clubhouse at Los Angeles International Airport early next year. The lounge, located in the Tom Bradley International Terminal, will invite customers to relax and enjoy the airline’s premium, personalised experience before they board their flight to London and beyond. The new Clubhouse will be just minutes away from the Virgin Atlantic gates so they can soak up every moment in the space before boarding. The Clubhouse will feature Virgin Atlantic’s signature touches including an expansive bar and social area with table service dining options, exclusive spaces - including a VIP Booth dubbed ‘The Royal Box’ – and flexible seating areas in which to work, dine and connect. The airline will pay homage to the City of An...

24Sep

By Africa BusinessNo Comments

Real Estate

Key Insights at the 15th Annual Africa Property Investment (API) Summit

The 15th Annual Africa Property Investment (API) Summit concluded last week Friday on a high note, offering deep insights into the transformative power of technology within the real estate sector. Among the standout sessions was the panel discussion titled "TECH IN REAL ESTATE: Top-Down Influence: How Technology is Influencing Listed and Private Real Estate," which featured industry leaders exploring the intersection of technology and property services. The panel, facilitated by Phil Barttram (Director of Pooled Data Services), included esteemed speakers such as Imogen Mantel (Head of Analysis, Liberty Two Degrees), Waldo Marcus (Industry Principal, MRI Software), Gary Goliath (Innovation Lead, Quoin Technologies), and Malcolm Horne (Group CEO, Broll Property Group). Together, they discus...

23Sep

By Africa BusinessNo Comments

Agriculture, South Africa News

Insect farming in Africa presents unique opportunity to overcome global challenges for a more sustainable future

Insect farming is rapidly emerging as a game-changer in sustainable food production. According to Antonine Hubert, second vice-president of the International Platform of Insects for Food and Feed, this sector has become the fastest-growing sustainable protein production industry in the European Union (EU). With over €1.5 billion invested in EU insect-producing companies, insect farming is contributing to thousands of green jobs, proving its significance in the global economy. Dean Smorenburg, CEO at Maltento, emphasizes the potential for insect farming in Africa, and South Africa: “Insect farming in Africa offers a revolutionary way to create more sustainable food sources. By rearing insects like Black Soldier Flies (BSF), we are able to convert organic waste into high-value products such...

19Sep

By Africa BusinessNo Comments

Business, Mozambique News

The role of insurance in bridging financial exclusion in Mozambique

Hollard, a leading Pan-African insurer, is bucking traditional marketing trends by using unconventional methods to drive financial literacy and encourage insurance uptake in cyclone-prone Mozambique through relatable, yet simple and effective techniques that are rapidly gaining traction. Israel Muchena, Managing Director of Life & Agricultural Insurance at Hollard, says that financial literacy levels are low in Mozambique, and this hinders broader access to the insurance needed to protect small-holder farmers from the risk of climatic disaster. Higher levels of financial literacy can only be achieved if the concept of insurance is demystified, made relatable and communicated in Indigenous languages, he points out. Muchena’s remarks come in response to Mozambican Deputy Minister of...

19Sep

By Africa BusinessNo Comments

Business, Main

Op-ed: Why Africa is the Next Big Opportunity Amid Global Slowdown in The Music Industry

By Faisal Kiwewa, Arts Connect Africa (ACA) Board Member and Founder and Director at BAYIMBA Cultural Foundation The global music industry is experiencing a slowdown, with streaming growth decelerating and major players like Apple and Amazon needing help to expand their user bases. Music companies are scrambling to find new revenue streams as the industry enters a slower-growth era. According to a report by Goldman Sachs, global music streaming revenue is expected to grow at a compound annual growth rate (CAGR) of 8% from 2022 to 2030, a slowdown compared to the 18% CAGR from 2017 to 2021. While the West grapples with these challenges, Africa’s music industry is growing into a vibrant, untapped market with immense potential. Africa: A Growing Market with Unique Opportunities Africa's ...

19Sep

By Africa BusinessNo Comments

Energy, Mozambique News

Delivering Mozambique’s Sustainable Energy Future

Maputo, Mozambique - Mozambique is emerging as a key player in the global energy landscape, with a rich reserve of natural resources, including natural gas and renewables. As the world shifts towards cleaner and more sustainable energy, Mozambique is positioning itself at the centre of this transformation, ensuring its energy projects are both ready and fully implemented to meet the growing demands of domestic, regional and the global market. At COP28 in Dubai, H.E. President Filipe Nyusi said, “Mozambique’s $80 billion energy transition strategy will leverage the country’s vast renewable resources to position the country as a sustainable investment destination and deliver energy to its people.” President Nyusi went on to share that while transitioning to a decarbonised future, Mozambiqu...

19Sep

By Africa BusinessNo Comments

Fintech, South Africa News

Happy Pay, SA fintech, raises $1.8M to reduce the cost of consumer credit to zero

Happy Pay raises $1.8 million pre-seed round and secures inaugural debt facility as it accelerates its mission of bringing the cost of consumer credit to zero for South Africans. Happy Pay, South Africa’s only independent BNPL (Buy Now, Pay Later) provider, now with 150,000 active users, announced today that it has raised $1.8 million in pre-seed funding. The funding round was led by a group of prominent South African venture capital investors, including co-lead investors E4E Africa and 4Di Capital, with participation from DotExe Ventures, Launch Africa, Equitable Ventures, Felix Strategic Investment, U.S.-based Gaingels, and local angels. In addition, Fin Africa (formerly Finclusion Group) is providing Happy Pay’s debt facility. Happy Pay’s forward-compliant BNPL platform, designed to m...

17Sep

By Africa BusinessNo Comments

Africa Travel, Interview, Kenya News, Main, Startups, Zimbabwe News

The Challenges and Prospects of Passport-Free Travel in Africa Using Biometrics

Willys Mac'Olale , Director of Fragomen Kenya An interview with Willys Mac’Olale, Director of Fragomen Kenya, on the innovative opportunities and barriers in using biometrics, particularly facial recognition, for passport-free travel. African countries must make an innovative leap to reach a new level of development that will improve the lives of people in Africa. What are the main drivers behind the shift to passport less travel and facial recognition in countries like the US, UAE and Europe? There are a number of reasons for this adoption including; Enhnaced security – The fact that passport less travel typically relies on biometric data which is more secure and harder to forge than traditional passports reduces the risk of identity theft and fraud. Streamlining Tr...