Connect with us

Business

One Africa, One Voice: Digital Inclusion Holds the Power to Accelerate Africa’s Economic Growth

Published

2 years ago

on

The event will gather major players across sectors to explore innovation, technology, and collaboration opportunities to find solutions for the digital inclusion challenges that Africa face

JOHANNESBURG, South Africa, September 27, 2022/APO Group/ — 

Says Tiekie Barnard, Shared Value Africa Initiative (SVAI) CEO and Founder:

  • “We are co-creating the global future on the African continent and this gathering in Kigali in October is possibly one of the most important conventions of leadership and executives since the launch of the UN Sustainable Development Goals in 2015.”
  • “The connection between social progress and business success is increasingly clear, and companies must team up with governments, NGOs and yes, even competitors, to fully capture the economic benefits of creating shared value as a collective.”
  • “When Africa wins, the world wins, and now more than ever, it has become imperative to develop meaningful and effective partnerships for development between the public and private sectors.  This Summit creates a unique opportunity and platform where leadership, as a collective, can discuss and provide input and solutions on how we can accelerate Africa’s growth through affordable, and accessible connectivity for all.”
  • “We have not yet cracked the code on mobilising the full power of business to drive social impact and profit on the African continent. While there is no silver bullet, the power of Shared Value is evident and there is a vast realm where Shared Value can be applied to drive a new wave of productivity and innovation on the continent that we call home. The time for change is now.”

Shared Value Africa Initiative (SVAI) and Shift Impact Africa have partnered with the GSM Association (GSMA), a global institution that represents the telco and digital service sectors, to bring together the sixth annual Africa Shared Value Leadership Summit and the Mobile World Congress Africa (MWCA).

Both events will take place alongside each other at the Kigali Convention Centre in Kigali, Rwanda, between 25 and 26 October 2022. His Excellency Paul Kagame, the President of the Republic of Rwanda, who will be joined by several other heads of state, will deliver the opening keynote.

Other speakers include, Sanda Ojiambo, Assistant Secretary-General of the United Nations Global Compact (UNGC); Mark Kramer, Senior Lecturer, Harvard Business School and Co-Founder of the Shared Value Initiative; Dr. Edem Adzogenu, Co-Chair of the AfroChampions Initiative; Jeremy Awori, CEO of Absa Kenya; Maria Cristina Papetti, Head of Global Sustainability, Infrastructure and Networks at Enel Group; and Lacina Koné, Director-General and CEO of Smart Africa.  

This partnership with GSMA heralds a first for Africa and the global Shared Value community. The event will gather major players across sectors to explore innovation, technology, and collaboration opportunities to find solutions for the digital inclusion challenges that Africa face.

Both in-person events will feature programmes that will examine where the future of connectivity on the African continent is heading. “We are co-creating the global future on the African continent and this gathering in Kigali in October is possibly one of the most important conventions of leadership and executives since the launch of the UN Sustainable Development Goals in 2015,” says Tiekie Barnard, SVAI CEO and Founder. “The connection between social progress and business success is increasingly clear, and companies must team up with governments, NGOs and yes, even competitors, to fully capture the economic benefits of creating shared value as a collective.”

We are co-creating the global future on the African continent and this gathering in Kigali in October is possibly one of the most important conventions of leadership and executives

The Africa Shared Value Leadership Summit’s unifying theme ‘One Africa, One Voice’ underscores this need for organisations to work together across borders and industries to benefit all Africans in a sustainable way. Business and other leaders will delve into questions such as the role of technology to address climate risks in a just way; how business can accelerate digital inclusion in Africa, particularly for disproportionately affected groups such as rural populations and women; how we ensure that digital connectivity and shared value become the drivers of Africa’s growth, as well as the role of shared value thinking and digital innovation to boost intra-Africa Trade.

“The African Union’s 2020-2030 Digital Transformation Strategy aspires to universal digital access and a single pan-African digital market by 2030. Achieving this would create a profound impact on the continent. For instance, the World Bank estimates that a 10% increase in mobile internet penetration could translate to a 2.5% increase in gross domestic product (GDP) on the African continent,” says Barnard.

“When Africa wins, the world wins, and now more than ever, it has become imperative to develop meaningful and effective partnerships for development between the public and private sectors.  This Summit creates a unique opportunity and platform where leadership, as a collective, can discuss and provide input and solutions on how we can accelerate Africa’s growth through affordable, and accessible connectivity for all.”

Technology holds the power to evermore change Africa’s future and address many of the continent’s systemic challenges. Yet the digital divide across Africa remains stark. Fewer than one-third of Africans have access to broadband connectivity. Of the 25 least-connected countries in the world, 21 are located in Africa. Three hundred million Africans live more than 50 kilometres from a fibre or cable broadband connection. At just 36%, Africa’s internet penetration compares poorly with the 62.5% global average, according to Statista’s latest global internet penetration rate.

“While digital innovation creates exciting new opportunities, it can exclude those who lack access to the digital economy. Creating a healthy and inclusive digital economy will require new thinking to generate safeguards against the many risks inherent in the application of technology, while channelling resources to areas of innovation that generate the greatest social impact on the continent,” says Barnard.

The Summit will host experts from across the industry for two days of networking, learning and collaboration. Sponsors include Abbott, Absa Bank Kenya, Old Mutual, Visa and the United Nations Global Compact (UNGC).   

“The support of our sponsors – purpose-led companies that are committed to driving sustainability on the continent – has allowed us to plan an event that will be entirely different from years past. We would like to invite interested parties to register and join us in Kigali to connect, interact, and explore solutions to bridge the digital divide and fuel Africa’s growth,” says Barnard.

All registered delegates will have full access to both events for the duration of the Summit. There is also an option to attend the Summit virtually, via livestream, which includes access to the combined keynote addresses by some of the continent’s business luminaries.

“We have not yet cracked the code on mobilising the full power of business to drive social impact and profit on the African continent. While there is no silver bullet, the power of Shared Value is evident and there is a vast realm where Shared Value can be applied to drive a new wave of productivity and innovation on the continent that we call home. The time for change is now,” Barnard concludes.

Registrations have already opened, and there is no cost to attend.

Visit the Summit website, www.AfricaSharedValueSummit.com, to learn more and secure your place.

Distributed by APO Group on behalf of Africa Shared Value Leadership Summit.

Related Topics:
Continue Reading
Advertisement

Business

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

Published

4 hours ago

on

November 22, 2024

By

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.

Continue Reading

Business

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

Published

4 hours ago

on

November 22, 2024

By

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

Egalement disponible en Français

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.

Continue Reading

Business

Universal Digital Payments Network (UDPN) and FORUS Digital Announce Strategic Cooperation to Advance Financial Innovation in Africa

Published

4 hours ago

on

November 22, 2024

By

UDPN

This partnership is set to empower African communities, governments, and businesses, and represents a significant step toward realising the shared goal of financial inclusion and economic advancement across Africa

CAPE TOWN, South Africa, November 21, 2024/APO Group/ — 

In Sub-Saharan Africa, approximately 105 million adults are unbanked and lack proper identification documents (http://apo-opa.co/4fZNzyr) [1]. Over 350 million adults in Africa live on a cash-only basis (http://apo-opa.co/3Z2xBg6), without access to financial accounts, credit cards, or lending facilities. Digital currency systems could prove to be key in improving financial inclusion and opening up new opportunities to large underbanked communities in many African countries.

Universal Digital Payments Network (UDPN) (https://apo-opa.co/4g0POSt), the world’s leading global payments messaging network supporting regulated stablecoins and Central Bank Digital Currencies (CBDCs) and FORUS Digital (http://FORUS.Digital), a global leader in blockchain-based cooperative digital finance, are starting a strategic cooperation aimed at expanding financial inclusion and promoting tokenisation efforts across Africa.

This partnership is set to empower African communities, governments, and businesses, and represents a significant step toward realising the shared goal of financial inclusion and economic advancement across Africa, with blockchain and decentralised finance at the forefront of this transformation. UDPN and FORUS Digital will collaborate to introduce the UDPN platform’s capabilities throughout Africa, initially in South Africa, Malawi, Zimbabwe and Ethiopia.

Sonny Fisher (https://apo-opa.co/4fVmRXZ), Founder of FORUS Digital (https://apo-opa.co/3YWJRih), remarked “Our partnership with UDPN accelerates our vision of economic empowerment through decentralised finance. Together, we are equipping Africa with the tools to embrace blockchain-powered tokenisation and drive sustainable development.”

“As we stand on the brink of a digital payments revolution, UDPN’s collaboration with FORUS Digital will play a crucial role in shaping a future where financial services are accessible, efficient, and secure for all Africans. This partnership is a testament to our belief that technology can be a powerful tool for development. By working together, we are paving the way for innovative financial solutions that will enhance economic resilience in African communities,” commented Christopher Ortiz (https://apo-opa.co/3UYIb6M), Member of Group Executive Board – North America, UK and APAC, GFT (https://apo-opa.co/4eBennO).     

UDPN is a DLT-underpinned messaging backbone focused on providing interoperability between the fast-growing number of different regulated stablecoins, tokenized deposits, and CBDCs, and seamless connectivity between any business IT system and regulated digital currencies.

Earlier this year the UDPN team launched three solutions designed to reshape the landscape of digital payments and assets in the financial sector:

  • Tokenised Deposit/Stablecoin Management System: A production-grade system designed for both commercial banks and regulated stablecoin issuers, streamlining the entire lifecycle of tokenised deposits and stablecoin services – from issuance to operation, including advanced interoperability features.
  • Digital Asset Tokenisation System: Provides a robust production-grade platform for financial institutions, such as banks and investment firms, to tokenise real-world assets and manage them within a regulated environment.
  • UDPN All-in-One Digital Currency Sandbox: A sandbox, designed to enable both commercial and central banks to learn about the latest digital currency technology, test built-in use cases, and develop their own new custom use cases in a self-control and secure environment that the banks can control and provide permissioned access to other institutions in their ecosystem.

The UDPN aims to drive down payment and foreign exchange costs whilst accelerating the uptake of regulated digital currencies.

Over 130 countries [3] globally are currently investigating, developing, or have already launched CBDCs. On the African continent, South Africa, Nigeria, Eswatini and Ethiopia have taken the lead. FORUS Digital has positioned itself in Africa to help central banks and commercial banks in their journey towards CBDC using the UDPN All-in-One Digital Currency Sandbox.

Statista [4] indicated that the Digital Assets market in Africa is projected to reach a revenue of US$3,115.0m by 2024.  It indicates that Africa’s Digital Assets market specifically, the number of users is projected to reach 53.89m users by 2025.

Financial innovation is not limited to central banks. Citigroup’s launch of Citi Token Services and Societé Generale’s December 2023 announcement of their digital currency and asset services and the HSBC Orion platform are the most recent examples of how traditional financial institutions are making digital assets an essential part of their service offerings to their clients.

This partnership between UDPN and FORUS Digital will focus on helping central banks deploy a secure CBDC testing environment for creating use cases and defining new regulations. It will also help commercial banks manage their own tokenised deposit and stablecoin life cycle and integrate into the central bank digital currency testing environment. The programmability of value-added financial services will enable new business models and enhance the efficiency and transparency of cross-border payments.

This partnership is a major milestone in Africa’s digital financial transformation and the introduction of UDPN Solutions there will enable a variety of sectors to access secure, low-cost cross-border payments and tokenised financial products. By providing African governments and financial institutions with blockchain-driven tools, UDPN will support enabling an inclusive, scalable digital payments system for the African continent.

Learn more!

To learn more about the Universal Digital Payment Network (UDPN), please visit www.UDPN.io.

Together, we are equipping Africa with the tools to embrace blockchain-powered tokenisation and drive sustainable development

[1] https://apo-opa.co/4fZNzyr

[2] https://apo-opa.co/3Z2xBg6

[3] Atlantic Council’s CBDC Tracker (https://apo-opa.co/4ggoRKH)

[4] Statista (https://apo-opa.co/4fX9p5N)

Distributed by APO Group on behalf of FORUS Digital.

Continue Reading

Trending