Latest news with #SouthernAfrica
Zawya
an hour ago
- Business
- Zawya
Angola Advances National Road Plan with €85M Support from Africa Finance Corporation (AFC)
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has closed and disbursed €75 million of an €85 million sovereign facility to Government of Angola, through the Ministry of Finance, to support the construction of 186 priority bridges and critical upgrades to the national road network. The project, part of Angola's National Development Plan (2023–2027), is aimed at reducing transportation costs, facilitating access to markets for agricultural producers, and creating approximately 900 direct jobs, while strengthening the resilience, efficiency, and inclusivity of Angola's transport system. Solely arranged and financed by AFC, the transaction marks a significant milestone in the €381.5 million financing package previously announced, with AFC serving as the mandated lead arranger on the commercial tranche, and the U.S. Export-Import Bank through the U.S. Private Export Funding Corporation leading the export credit agency tranche. Other key partners include Standard Chartered Bank as the coordinating and structuring bank; Conduril, a leading Portuguese civil engineering firm which is the main EPC contractor; and Acrow, a U.S. construction industry giant as the bridge supplier. This disbursement reinforces AFC's commitment to working alongside African governments to deliver infrastructure that supports inclusive growth, regional connectivity, and economic transformation. "We are proud to advance this catalytic investment that will connect underserved regions, enhance regional trade, and improve the quality of life for millions of Angolans,' said Samaila Zubairu, President&CEO of Africa Finance Corporation. 'This disbursement demonstrates AFC's unique capacity to structure and fund impactful infrastructure projects that address critical national priorities and accelerate economic transformation," he added. The project is expected to significantly strengthen the resilience of Angola's transport network to climate-related disruptions, reduce travel times, and lower logistics costs for communities, farmers, and businesses. It also supports regional integration by enhancing trade corridors and cross-border connectivity across Southern and Central Africa. With this transaction, AFC reaffirms its role as a trusted partner to African governments in delivering bankable infrastructure solutions that address the continent's most urgent development challenges. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile: +234 1 279 9654 Email: About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Zawya
2 hours ago
- Business
- Zawya
How tech and finance are unlocking Africa's smallholder farming future?
Across Africa, smallholder farmers sit at the heart of the continent's food systems; yet, many remain trapped in cycles of low productivity, limited market access, and financial exclusion. At Solidaridad Southern Africa, we've seen firsthand how digital innovation and inclusive financing are changing that narrative - not just in theory, but on the ground. Take, for instance, in partnership with the Cotton Council of Malawi and the industry players, we have seen how the introduction of e-payment systems in the cotton sector has increased transparency, security, and farmer confidence. That's not just progress; it's transformation. From pilot to scale: A new era for agripreneurs What's remarkable is how these interventions are moving from pilot to scale. We are no longer testing concepts. We're implementing solutions across cotton fields and emerging marketing centres that are replicable, cost-effective, and inclusive. In every case, we're guided by a simple principle: farmers should not just survive; they should thrive as agripreneurs. Digital tools, especially mobile-based platforms, are proving to be powerful enablers. Farmers are now sending and receiving money across borders and districts without needing a brick-and-mortar bank. They're registering loans, accessing weather-index insurance, and tracking repayment digitally. For financial institutions, input suppliers, and impact investors, this creates efficiency, traceability, and accountability, ultimately boosting investor confidence and reducing risk. Inclusive by design: Youth, women, and the digitally underserved Critically, inclusivity is at the centre of our design. Our programmes intentionally target women, youth, and differently abled individuals, ensuring that no one is left behind in this digital shift. And while rural connectivity and the cost of high-quality devices remain challenges, we're building farmer digital ecosystems that are adaptable, inclusive, and interoperable - laying the groundwork for a broader digital transformation in agriculture. Surprisingly, when it comes to money, literacy isn't the biggest barrier. Farmers understand value, timing, and commitment. We've seen loan recovery rates that outperform traditional models, because when services are relevant and fair, farmers show up - and pay up. A call to government: Partnering for scalable impact Of course, this journey isn't without hurdles. Unreliable internet connectivity can delay payments. Capturing high-resolution, geotagged farm photos requires advanced devices that many rural agents cannot yet afford. But the path is clear: as we digitise more layers of agriculture - from planting to payment - we are making the sector more resilient, transparent, and scalable. Now is the time for governments to come on board - not just as regulators, but as partners in progress. By embracing digital finance, supporting farmer data systems, and incentivising regenerative practices, public institutions can vastly improve service delivery, particularly in rural and underserved areas. Africa's smallholder farmers are ready. With the right support, they're not just the future of agriculture; they're the future of inclusive economic growth. Let's give them the tools and trust they need to lead the way. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Reuters
a day ago
- Politics
- Reuters
Mozambique seeks to prosecute opposition leader over post-election unrest
MAPUTO, July 23 (Reuters) - Mozambique is seeking to prosecute the country's main opposition leader, Venancio Mondlane, over civil unrest that followed a disputed election last year, a document presented to Mondlane by prosecutors showed. Mondlane, who says President Daniel Chapo of the long-ruling Frelimo party won the election through vote-rigging, was summoned by prosecutors on Tuesday. He was shown the 40-page document laying out a series of accusations including that he incited the unrest. An adviser to Mondlane shared the document with Reuters on Wednesday and said the opposition politician denied all the prosecutors' accusations. Prosecutors in the resource-rich Southern African country declined to comment. The post-election protests, in which more than 300 people were killed, were the largest against Frelimo since independence from Portuguese colonial rule in 1975. Frelimo denies allegations of electoral fraud, though Western observers say October's vote was not free and fair. There had been indications that Chapo and Mondlane were looking to build bridges, as the two politicians met for talks in March and again in May. Chapo also launched a "national dialogue" and invited Mondlane to serve on a presidential advisory body. Louw Nel, a political analyst at Oxford Economics Africa, said attempts to prosecute Mondlane would "weigh on the political compromise Mozambique's political actors reached in March".
Zawya
a day ago
- Business
- Zawya
Venture debt gains ground as South Africa's startup investment hits new high
Southern Africa's venture capital (VC) market ended 2024 on a high note, reaching a record R13.35bn in active investments across 1,325 deals, a 24% increase from the previous year. That's according to the latest data released in the 2025 Venture Capital Survey, which shows strong momentum in early-growth funding, greater diversity in deal types, and a maturing investment ecosystem, despite slower exit activity and ongoing global headwinds. Series A deals surge as venture debt enters the picture More than R3.29bn was deployed into startups in 2024, with R2.62bn in equity and a further R670m in venture debt — the first year this form of financing was tracked in the survey. One of the most notable shifts was the surge in Series A funding, which rose to 42.5% of all deals, more than double the share recorded in 2023. The number of investment rounds climbed to 222, a 20% increase, involving 110 companies – the highest ever recorded. While the overall equity deal value declined, the rise in deal volume and diversification of funding instruments signal a more resilient, flexible funding environment. Tech dominates, health sees renewed investor appetite As in previous years, ICT remained the top investment sector, capturing 65.9% of deal value. Within tech, software (20%), FinTech (15.9%), and online marketplaces (7.6%) stood out. Notably, healthcare investment rebounded, climbing to 20% of deal value – its strongest showing in nearly a decade. Areas like life sciences, biotech, and medical devices saw renewed interest, pointing to broader sector diversification. However, the report also flags the concentration of capital in just two sectors as a potential risk for long-term sustainability, urging wider support for underfunded industries. Independents and angels drive activity as corporates pull back Independent fund managers dominated the landscape, accounting for over 80% of all deals and capital deployed – the highest on record. Angel investors also made a comeback, contributing 10.3% of deal volume and value, their strongest showing since 2019. Meanwhile, corporate and government-linked investors pulled back, contributing under 10% of total deals and capital. This reflects a shift back to agile, founder-focused funding, though it raises questions about the future role of institutional capital in the ecosystem. Transformation showing steady progress The report shows encouraging signs of transformation across the VC landscape. Over 42% of fund managers had at least one female founder, and a similar proportion had a black founder. Nearly a quarter achieved B-BBEE Level 4 or better, with female CEOs leading just over 21% of respondent firms. These figures suggest growing inclusivity, but also highlight the need for continued efforts to broaden participation and leadership in the sector. Exit activity remains a major constraint Only three exits were recorded in 2024 – the lowest since the survey began. Key constraints include a limited buyer universe, lack of follow-on capital, and regulatory hurdles, such as exchange control rules. To unlock the next growth phase, fund managers have called for stronger international networks, greater FDI, and larger fund sizes. Some hope remains pinned on co-investments and fund-of-funds models to crowd in new capital, particularly from pension funds and insurers. Outlook: From promise to performance Despite structural challenges, South Africa's VC market appears to be evolving in the right direction. With the rise of venture debt, deepening early-stage networks, and improving diversity, the industry is shifting from promise toward long-term performance. The report closes with a call to action: build globally scalable startups, attract bold capital, and foster local resilience through smarter partnerships.
Bloomberg
a day ago
- Politics
- Bloomberg
Angolan President Hints at Successor Who Can Do ‘Better Than Me'
Angolan President João Lourenço said he's looking for someone to succeed him at the helm of Africa's third-biggest oil producer, before general elections scheduled to take place in 2027. 'I think about it every day,' Lourenço said in a television interview late on Tuesday with CNN Portugal. 'I think in silence. It's my duty to think because we can't leave the country in the hands of just anyone.'
