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African Development Bank Vice President witnesses first-hand life-changing impacts of Africa-focused agribusiness giant

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Quaynor

“This glimpse into ETG’s operations was deeply insightful,” says Vice President Quaynor after trip to company’s Southern Africa operations

HARARE, Zimbabwe, August 3, 2023/APO Group/ — 

African Development Bank Group (www.AfDB.org) Vice President Solomon Quaynor has concluded a tour of Export Trade Group (ETG)’s southern Africa operations, signalling the potential for stronger partnership with the agribusiness giant to boost livelihoods on the continent.

Mr Quaynor, responsible for Private Sector, Infrastructure and Industrialisation, and four others from the Bank, visited ETG’s operations in Mozambique, Malawi, Zambia and Zimbabwe last week, where they saw first-hand the impact of the firm’s diverse agribusiness value chains and trade, supported by massive human capital and assets, including large warehouses and industrial machinery.

The Bank’s team included Richard Ofori-Mante, Acting Director of Agricultural Finance and Rural Development; Damian Ihedioha, Division Manager for Agribusiness; Bleming Nekati, Chief Trade Finance Officer; and Patrick Mabuza, Principal Research Economist. They were joined by ETG’s Joint CEO, Birju Patel and the Group Chief Treasury Officer, Paul Van Spaendonk.

Quaynor described the trip as “a development banker’s dream”. “This has been a deeply insightful trip to Export Trading Group’s integrated agro-industrialization operations in Mozambique, Malawi, Zambia and Zimbabwe. With a presence in over 30 countries, this glimpse into ETG’s operations was a development banker’s dream,” he said.

During the four-day trip, the Bank team visited ETG’s fertilizer terminal, an inland container depot, fertilizer processing and blending plants, soya vegetable oil refineries, giant warehouses, some of which were filled with tonnes of grains, collection depots, plastic and candle factories, cashew processing plant and a textile factory.

Quaynor’s team also interacted with farmer groups, including several women, agribusiness cooperatives and employees of ETG. The meetings provided useful insight into the scale and diversity of the company’s activities in Southern Africa. Quaynor also used the opportunity to affirm the African Development Bank’s commitment to help boost food production in Africa and foster inclusive development by investing in proven agri-businesses such as ETG.

He noted that the company’s operations in Africa go beyond economic growth. “They strive to industrialise Africa, develop smallholder farmers, empower women, create jobs, engage with communities, achieve sustainability and develop value chains,” Quaynor said.

The Vice President said he was impressed with the Group’s versatility in managing its diverse portfolio successfully amid persistent local and global headwinds. He noted that they are an innovative agro-industrialist, agro-infrastructure and financially hedged global company with core operations in Africa.

The meetings provided useful insight into the scale and diversity of the company’s activities in Southern Africa

“We believe that ETG is a viable company that is committed to building a brighter future for Africans with gender equality, livelihood opportunities, self-sufficiency, community well-being, environmental stewardship, and collaboration from the pillars of inclusive and sustainable development in Africa. We are proud to be strategic partners with ETG on this remarkable growth story,” Quaynor said.

ETG, a global conglomerate with operations across multiple sectors, is present in 48 countries across five regions, including 30 African countries, where it runs more than 90 industrial plants and around 350 gigantic warehouses. It has a diverse portfolio spanning agriculture, logistics, infrastructure, agro-food processing, energy, minerals and supply chain optimisation.

The company has generated massive employment, including for youth and women. South Africa and Zambia are key countries for both origination and destination, with West Africa forming a key source of cocoa, sesame, and cashew and East Africa a key origin for pulses, sesame, coffee and edible nuts.

ETG CEO Patel underscored the impact of the partnership with the African Development Bank over the last eight years and stressed the Group’s commitment to continue working together to improve livelihoods across Africa, “It is always exciting to cultivate partnerships with like-minded organisations that share our unwavering passion for the continent and its people”.

“Our steadfast dedication to enhancing livelihoods through facilitation of trade and market linkages, infrastructure development, agricultural support encompassing yield-enhancing inputs, agronomy services, and sustainable farming practices training, as well as strategic social investments, remains resolute and unyielding. We look forward to strengthening our relationship with the African Development Bank and creating a positive impact for all our stakeholders.”

The Bank and ETG recently signed a $150 million trade and agri-finance package. It comprises a $60 million facility to enhance the company’s export functions, a $60 million agriculture  value-chain programme to boost production by offering top-notch farming tools and expert guidance to farmers in 10 targeted African nations, and a $30 million co-financing from the Africa Growing Together Fund. Disbursement will be concluded before the end of August 2023.

In 2016, the Bank provided a $100 million corporate loan with a seven-year tenor to finance ETG’s capital expenditure investment programme covering fertiliser facilities, processing plants, and multi-commodity warehouses across Africa. This was followed by an additional $100 million Soft Commodity Finance Facility to support the firm’s short-term import and export working capital.

These facilities supported ETG’s operations in Benin, Burkina Faso, Ghana, Kenya, Malawi, Tanzania, Zambia, and Zimbabwe, creating over 6,710 jobs (including 1,290 for women) and significantly contributing to tax revenues across the continent. 

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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RIOT Network and MediaTek collaboration expands digital access in South Africa through innovative, community-driven Wi-Fi solutions

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RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities

JOHANNESBURG, South Africa, November 22, 2024/APO Group/ — 

MediaTek (www.MediaTek.com), a global fabless semiconductor company powering nearly 2 billion connected devices a year, and RIOT Network (https://RIOT.Network), a community mobile broadband provider in South Africa, have announced the successful integration of Mediatek’s Filogic 830 (https://apo-opa.co/3CIbkNl) chipset into RIOT’s second-generation CROWDNet Core Nodes.

The successful deployment of the CROWDNet nodes has enabled RIOT Network to achieve its aim of offering uncapped internet at an affordable price of R99 per month, and to do so profitably. To date, RIOT Network, in partnership with Sonke Telecommunications, has leveraged the nodes to connect more than 800 households and 5000 users in Olievenhoutbosch to uncapped Wi-Fi services.

RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities. Its CROWDNet Nodes, enable an innovative model for deploying user-operated network infrastructure. Community members serve as operators of some of the core network devices to earn a share of the fee from neighbours who use the service.

With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity

CROWDNet powered by MediaTek Filogic 830 brings affordable, last-kilometre broadband to communities where it is not commercially viable to deploy towers or fibre. The MediaTek Filogic 830 is a high-performance SoC for routers, repeaters, access points and mesh networking devices. The SoC enables device makers to build-in powerful applications based on an energy-efficient, Wi-Fi 6-ready platform.

“The Mediatek’s Filogic 830 chipset delivers a unique balance of high performance and cost-efficiency, allowing us to keep operational costs low while maximising network reliability and speed,” said Jarryd Bekker, CEO at RIOT Network. “This combination of affordability and sustainable business growth is pivotal to our vision of expanding digital access in underserved communities. Our work in Olievenhoutbosch near Centurion demonstrates the power of reliable, affordable internet, creating new opportunities for economic and social engagement.”

“With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity,” said Rami Osman (https://apo-opa.co/4ghZBUn), Director for Business Development, MediaTek Middle East and Africa. “We look forward to supporting RIOT in building a future where high-quality internet is accessible and impactful for all.”

Distributed by APO Group on behalf of MediaTek Inc

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African Energy Chamber (AEC) Endorses Inaugural Congo Energy & Investment Forum, Catalyzing Growth in the Republic of Congo’s Energy Sector

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African Energy Chamber

The African Energy Chamber proudly supports the inaugural Congo Energy & Investment Forum, scheduled for March 25-26, 2025 in Brazzaville

BRAZZAVILLE, Republic of the Congo, November 21, 2024/APO Group/ — 

The African Energy Chamber (AEC), as the voice of Africa’s energy sector, proudly supports the inaugural Congo Energy & Investment Forum (CEIF), set to take place in Brazzaville on March 25-26, 2025. Unveiled during African Energy Week: Invest in African Energies in Cape Town by the Republic of Congo’s Ministry of Hydrocarbons, this milestone event signals the nation’s commitment to strengthening its role as a key energy player on the continent, while showcasing a range of investment opportunities. 

Under the leadership of Hydrocarbons Minister Bruno Jean-Richard Itoua, the Republic of Congo has emerged as sub-Saharan Africa’s fourth-largest oil producer, with anticipated production of 280,000 barrels per day (BPD) by the end of 2024 and ambitions to reach 500,000 BPD within three to five years. Building on this momentum, the CEIF will highlight innovative projects and foster strategic partnerships that enhance investment, drive economic growth and position the Congo as a leader in Africa’s energy expansion.

Meanwhile, Société Nationale des Pétroles du Congo (SNPC), led by CEO Maixent Raoul Ominga, is spearheading the Congo’s energy growth. SNPC holds a majority stake in the Mengo Kundji Bindi II permit, with 2.5 billion barrels of estimated oil potential. The company is developing the site through 13 wells, 3D seismic data acquisition, and the construction of six production platforms. 

We are honored to secure the Chamber’s endorsement for this pivotal forum

With the Chamber’s official support, the CEIF is set to attract government leaders, C-suite executives from major IOCs and energy experts, who will offer critical insights into Congo’s oil, gas and energy sector developments. The country is overhauling its gas sector to unlock 10 trillion cubic feet of resources through a comprehensive Gas Master Plan and new Gas Code that introduces favorable fiscal terms and enables small-scale project development, as well as large-scale, integrated gas megaprojects like Eni’s Congo LNG and Wing Wah’s Bango Kayo. 

“The Congo Energy & Investment Forum marks a major milestone for the country, amplifying its strategic energy initiatives and showing industry stakeholders that it is serious about advancing its energy sector. We look forward to supporting this forum, which promises to connect investors, drive impactful partnerships and elevate the Congo’s position within Africa’s energy sector,” says NJ Ayuk, Executive Chairman of the AEC.  

“We are honored to secure the Chamber’s endorsement for this pivotal forum, which, through its vast network and influence, will help attract key stakeholders and decision-makers to the event. Together, we aim to highlight the immense potential of the Congo’s energy sector, foster strategic partnerships and drive transformative investments that contribute to sustainable growth across the industry,” notes James Chester, CEO of Energy Capital & Power, organizers of the CEIF.   

This premier forum provides a unique platform for connecting local and international investors with high-impact opportunities across a diversified range of energy projects, paving the way for collaborations that drive growth and transformation. The AEC’s endorsement underscores its commitment to fostering strategic partnerships, sustainable investment and regional cooperation, aligning with its broader mission to make energy poverty history across the continent by 2030.  

As the energy industry continues to serve as a critical pillar of the Congolese economy and a catalyst for sustainable development, the AEC remains dedicated to supporting initiatives like CEIF that foster progress, investment and partnerships across the African energy landscape. 

For more information, please visit www.CongoEnergyInvestment.com

Distributed by APO Group on behalf of Energy Capital & Power.

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Any Successful African Energy Policy at Conference of the Parties (COP) or Anywhere Must Have Oil and Gas at its Core (By NJ Ayuk)

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Conference of the Parties

Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels

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JOHANNESBURG, South Africa, November 21, 2024/APO Group/ — 

By NJ Ayuk, Executive Chairman of the African Energy Chamber (www.EnergyChamber.org).

I believe the ultimate responsibility for getting there is ours and no one else’s. Yes, we need partners to walk alongside us, but the success of our energy movement rests on African shoulders.

To begin with, I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals.

This will be particularly important in COP29 in Baku. It is imperative that African leaders present a unified voice and strategy for African energy transitions. We must make Africa’s unique needs and circumstances clear and explain the critical role that oil and gas will play in helping Africa achieve net-zero emissions in coming decades.

I would encourage African leaders to talk about the need for financing, as well, to make it possible for us to adopt renewable energy sources and set up the necessary infrastructure. Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels.

Africa’s governments have a role to play in a successful African energy movement as well.

Because Africa’s energy industry still can benefit greatly from the presence of international oil companies, our government leaders need to approve contracts with oil and gas companies promptly instead of allowing red tape to delay projects after discoveries are made.

And, they need to offer the kinds of fiscal policies that allow oil companies to operate profitably in Africa. In turn, that will help those companies generate revenue, create jobs and business opportunities, and foster capacity building.

I also would encourage governments and civil societies to reward companies that exemplify positive behavior. Let’s incentivize the kind of activities we want, from creating good jobs and training opportunities to sharing knowledge.

I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals

And there’s more.

We in Africa must work together to create more opportunities for women to build careers in the oil and gas industry at all levels. Our energy industry can’t reach its potential to do good when half of our population is left out. Our progress on behalf of women has not been great—We need to do better, and we need to act quickly.

How the world can support

Now, I mean it when I say Africans are responsible for building the future they want. But, I would love to see Western governments, businesses, financial institutions, and organizations support our efforts.

How? They can avoid demonizing the oil and gas industry. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground. Actions like these, even as Western leaders have pushed OPEC to produce oil, are not fair, and they’re not helpful.

I also would respectfully ask financial institutions to resume financing for African oil and gas projects and stop attempting to block projects like the East African Crude Oil pipeline or Mozambique’s LNG projects.

Please understand that with the war in Ukraine, the energy crisis in Europe, and the energy poverty facing our continent, our countries, like many others, are simply choosing the paths they believe are most likely to help their people.

You know, people for years have accused me of loving oil and gas companies more than Africa. The opposite is true. In my frequent travels around the continent, I’ve observed far too many young people with little in the way of opportunities.

I know our young people have aspirations for a better future. I know they have big dreams. And, I know that future is nearly within their grasp.

A thriving, strategically managed energy industry can make it possible for many of these young people, whether it leads to good jobs or it fosters the kind of economic growth that creates jobs in other fields. Even if we only get the lights on in their communities, we’ll be giving our young people hope and improving their chances of realizing their goals.

This is what drives me, the idea that with our ongoing efforts and determination, our young people can realize meaningful opportunities. I encourage each of you to work with us at the African Energy Chamber, in a spirit of cooperation and mutual respect. Together, we can build the kind of African energy movement that our continent, our communities, and our young people need and deserve.

Distributed by APO Group on behalf of African Energy Chamber.

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