Latest news with #Uganda
Zawya
an hour ago
- Business
- Zawya
African Development Bank's Sustainable Energy Fund for Africa (SEFA) supports electric cooking expansion across three African nations
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB) ( is tackling charcoal dependence in Kenya, Uganda, and Zambia with a $4 million reimbursable grant. This grant will fund the Burn Electric Cooking Expansion Program (BEEP), deploying 115,000 Burn ECOA Electric Induction Cookers to provide clean cooking solutions for low-income, grid-connected households currently relying on charcoal. Burn, a Kenya-based clean cookstove company and carbon developer with operations in over 10 African countries, will implement BEEP. This program makes clean cooking appliances more affordable and accessible by prefinancing induction cookers and recovering costs through carbon credit sales in the voluntary market. This innovative model combines carbon-backed subsidies with pay-as-you-go payment plans, significantly lowering upfront costs for end-users. Capitalised through a Special Purpose Vehicle (SPV), the Program is funded by a $5 million senior loan from the Spark+ Africa Fund, a $4 million reimbursable grant from SEFA, and $1 million in equity from Burn Manufacturing Company. This SPV will partner with Burn to manage sales, distribution, and servicing of the cookers. The appliances will generate carbon credits, owned by the SPV, with revenues shared among investors. Dr. Daniel Schroth, Director for Renewable Energy and Energy Efficiency at the African Development Bank Group, stated, 'This marks the Bank's first carbon finance transaction of its kind, with SEFA playing a critical role in mitigating carbon market risks and enhancing the Program's financial sustainability.' The program aligns with SEFA's thematic area on Energy Efficiency, catalysing private sector investments in efficient appliances and promoting scale-up of clean cooking technologies. It also supports the Mission 300 Initiative and the Bank's New Deal on Energy for Africa, which aim to deliver universal energy access through low-carbon solutions. 'We are honoured to receive this catalytic investment from the African Development Bank's Sustainable Energy Fund for Africa—their first-ever investment in carbon projects focused on electric cooking. This milestone enables BURN to rapidly scale our IoT-enabled induction stove across Kenya, Uganda, and Zambia, providing low-income households with a zero-emission, digitally monitored alternative to charcoal and wood,' said Peter Scott, Founder and CEO, BURN. 'By integrating cutting-edge technology, carbon financing, and mobile-enabled Pay-As-You-Cook models, we are demonstrating that electric cooking can be clean, affordable, and scalable across the continent.' In addition to environmental and health benefits, the program will stimulate job creation and fortify local supply chains within the three target countries, paving the way for a cleaner, more prosperous future for communities across Kenya, Uganda, and Zambia. Distributed by APO Group on behalf of African Development Bank Group (AfDB). ABOUT SEFA: SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. SEFA offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects and improve the risk-return profile of individual investments. The Fund's overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal on Energy for Africa and the M300. About the African Development Bank Group: The African Development Bank Group is Africa's leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member countries. For more information:
Fox News
2 hours ago
- Politics
- Fox News
Socialist Mamdani Headed on International Vacay
Socialist and NYC Mayoral candidate Zohran Mamdani is taking a little overseas summer vacay to Africa. I'm Tomi Lahren, more next. Democratic socialist and NYC mayoral front runner Zohran Mamdani is taking an extended summer vacation to Uganda with his wife in the middle of his campaign efforts. He posted about it and even poked fun at himself for the trip, anticipating the headlines and backlash. And he got it. But what's really wild here is that the socialist and some would say communist candidate has supported the abolition of private property, yet strangely, he owns 4 acres of land in Uganda that's valued at upwards of a quarter million bucks… So to wrap this all up in a big bow of hypocrisy, the socialist candidate who demonizes wealth, the wealthy, and private ownership is taking some privileged R&R time to take an international trip to celebrate his anniversary, likely on the acres of private land he owns in his native country. You just can't make this stuff up. I'm Tomi Lahren and you can watch my show 'Tomi Lahren is Fearless' at Learn more about your ad choices. Visit
Yahoo
10 hours ago
- Sport
- Yahoo
CHAN 2024: CAF unveils the official poster for this 8th edition
The 'PAMOJA' visual campaign, a symbol of the East African championship's values of unity and inclusion. The Confederation of African Football has unveiled the official poster for the 2024 TotalEnergies African Nations Championship. This 8th edition of the continental tournament for local national teams will revolve around the theme 'PAMOJA', which means 'Unity' in Swahili. The Confederation of African Football is launching the visual campaign for CHAN 2024 through the presentation of its official poster, accompanied by the theme 'PAMOJA'. According to CAF, this slogan 'embodies the spirit of cohesion, harmony, and shared ambition. It reflects the collective strength of African communities and the values that football brings to life: teamwork, mutual support, and solidarity.' As a reminder, the 2024 African Nations Championship is co-hosted by Kenya, Uganda, and Tanzania from August 2 to 30, 2025—a historic first, with three East African nations joining forces to welcome this continental event.
Zawya
11 hours ago
- Business
- Zawya
President Museveni Meets Food and Agriculture Organization (FAO) of the United Nations Director General
President Yoweri Kaguta Museveni has today met and held fruitful discussions with the Director General of the Food and Agriculture Organization (FAO) of the United Nations, H.E Qu Dongyu at State House, Entebbe. Welcoming the Director-General, President Museveni underscored the critical role of the FAO in supporting the transformation of agri-food systems, reiterating that agricultural development remains a top priority for Uganda. President Museveni assured H.E Dongyu of his unwavering support to facilitate smooth collaboration with the FAO. The two leaders further discussed how they could enhance collaboration in key areas such as sustainable agriculture, and food security that are vital for Uganda's agricultural transformation. A significant emphasis was also placed on the need for income security, nutrition and hygiene to provide a stable foundation for well-being and development of individuals. H.E Dongyu expressed gratitude for Uganda's ongoing commitment to the FAO and affirmed the organization's readiness to provide strong support to Uganda's investment plans. 'Uganda has significant potential for rapid growth and development.' The FAO delegation included; Mr. Maximo Torero, Chief Economist; Mr. Abebe Haile Gabriel, Assistant D.G and Rep. for Africa; Ms. Lineo Molise, Regional Coordinator for Africa; and Mr. Shen Hong, Assistant to the Director General. Distributed by APO Group on behalf of State House Uganda.
Zawya
12 hours ago
- Business
- Zawya
Aid won't close Africa's $1.3 trillion Sustainable Development Goal (SDG) gap
Foreign aid is no longer a viable solution for Africa's growing development needs. The continent's annual Sustainable Development Goal financing shortfall has reached $1.3 trillion, and leaders are increasingly clear-eyed about the limits of donor-driven models. At a high-level session on the margins of the 2025 UN High-level Political Forum, African leaders called for structural reforms to expand domestic resource mobilization, build regional value chains and shift away from exporting raw commodities. 'Aid won't close the gap. We must stop exporting raw materials and importing poverty,' said Claver Gatete, UN Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA). He called for greater investment in manufacturing, green industries and youth-led enterprises. More than 80 percent of Africa's exports remain unprocessed, a model he described as unsustainable. Mr. Gatete was speaking at a session organized on the margins of the 2025 High-level Political Forum on Sustainable Development in New York. The event, co-hosted by the Government of Uganda and the ECA, focused on how to translate the Kampala Declaration, adopted at this year's Africa Regional Forum on Sustainable Development (ARFSD), into concrete action. Uganda's Prime Minister Robinah Nabbanja said the continent was 'dangerously off track' but highlighted progress made in her country, including reductions in maternal mortality, gains in gender equality and increased national budget allocations linked to the Sustainable Development Goals. 'The Kampala Declaration is practical,' said Ms. Nabbanja. 'We're proud to host this conversation and to take it forward in terms of implementation.' Her remarks underscored a broader shift toward self-determined development. Uganda chaired the ARFSD Bureau in 2025 and has introduced measures to align domestic planning with regional and global frameworks. Despite this, debt pressures, limited access to concessional finance and the high cost of capital continue to challenge many African economies. Mr. Gatete reiterated ECA's support for the creation of an African Credit Rating Agency, arguing that current international rating practices distort risk and restrict access to affordable capital. He also called for scaling blended finance mechanisms, issuing local currency bonds and digitizing tax and revenue systems to boost efficiency and compliance. He noted that inclusive growth also depends on people-centered investments. 'We must stop viewing youth as recipients of development and start recognizing them as drivers of it,' he said, emphasizing the need for vocational training, digital skills and youth entrepreneurship. Selma Malika Haddadi, Deputy Chairperson of the African Union Commission, said the Kampala Declaration represents more than a political commitment. 'It is not just about potential. It is about will,' she said. 'Partnership is not patronage. It must be grounded in mutual recognition and institutional respect.' She warned against 'performative partnerships' and called for better alignment between global funding frameworks and Africa's priorities. Ms. Haddadi cited progress on regional integration, including the rollout of the Pan-African Payment and Settlement System and implementation of the African Union's climate finance strategy. With fewer than five years remaining to achieve the 2030 Agenda for Sustainable Development, and with the second ten-year plan of Agenda 2063 now underway, speakers agreed that declarations must be backed by systems capable of delivery. The Kampala Declaration, they said, provides a roadmap, but only coordinated action will close the gap. The event drew senior-level representation from across the continent and the UN system, including Uganda's Minister for General Duties, Justine Kasule Lumumba; UN Special Adviser on Africa, Cristina Duarte; and other experts and policymakers engaged in development financing, innovation and regional planning. 'The future we want will not be given to us,' Mr. Gatete said. 'It must be built. And we must build it now.' Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).
