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Africa Must Own Carbon Offsets Value Chain Amid Market Failures

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Carbon Offsets

With average global temperatures now at least 1.1 degrees Celsius above pre-industrial levels, the planet is fast approaching the 1.5°C ceiling beyond which scientists foresee environmental catastrophe

DUBAI, United Arab Emirates, December 4, 2023/APO Group/ — 

Africa should become the global centre for high-value, high-integrity carbon credits, AFC (www.AfricaFC.org) says; Wholesale leases or sale of land undervalue Africa’s forestry while enabling polluters: AFC paper; AFC Foundation to prioritise conservation and regeneration of African carbon sinks through local capacity building.

At a critical moment in the fight against climate change, the world is squandering a significant opportunity by neglecting Earth’s most important natural carbon repositories – Africa’s forests, grasslands, peatlands and mangroves. The global carbon markets offer a pragmatic way to change this course for the better, with scope to attract meaningful and much-needed finance for conservation, energy transition and climate resilience. Yet, as things stand, carbon markets are failing to deliver. Worse, they risk enabling polluting countries and industries to ignore the burden of their ‘pollution per capita’ responsibilities and justify backsliding on urgent emission reductions.

These are the findings of a positioning paper released at COP28 by the Africa Finance Corporation, which urges against complicit arrangements with external entities that undervalue Africa’s natural assets. Instead, Africa’s political and economic leadership should take a strategic approach to harness the full benefits of a viable future carbon market, which Africa must lead, according to AFC.

“The fact is the world is enticing Africa to repeat mistakes of the past,” writes Samaila Zubairu, President & CEO of AFC. “Instead of maximising economic value from our natural assets, countries are engaging in the wholesale long leases and sale of land – our valued birthright – to foreign intermediaries that hope to profit from a more appropriately priced carbon market of the future. This is akin to the resource curse of past decades.”

With average global temperatures now at least 1.1 degrees Celsius above pre-industrial levels, the planet is fast approaching the 1.5°C ceiling beyond which scientists foresee environmental catastrophe. Yet, eight years after the Paris Agreement, governments continue to fail to meet their commitments to climate action. Global greenhouse gas emissions have shot up, with the world on course for a 9% increase by 2030 from 2010 levels, according to the UN Intergovernmental Panel on Climate Change. In place of resolve to take responsibility for per capita emissions, polluting nations are instead pivoting towards carbon offsets as a way of ‘cancelling out’ industrialised world emissions. 

But while viewed by some as a climate panacea, the market for carbon offsets has become compromised by repeated scandals: conservation projects mired by evidence of exploitation, made worse by corruption; exposés of carbon offsets that do not represent any actual emission reductions; deforestation simply being moved along to regions not covered by offsets; displaced communities that see none of the proceeds from offset contracts.

The continent’s forests alone absorb a net 600 million tonnes of carbon dioxide each year, more than any forest ecosystem on Earth

The damage to market confidence from these recurring exposés is evidenced by a dramatic decline in issuance and prices of carbon credits. Although African carbon credits are among the most impacted by this negative cycle, the continent is also in a unique position to reform the carbon markets in a way that will drive trust, value, and localised benefits, AFC’s paper says. Africa’s extensive forests, grasslands, peatlands, and mangroves are some of the world’s most powerful carbon sinks, helping to mitigate global climate change and increase ecological diversity. The continent’s forests alone absorb a net 600 million tonnes of carbon dioxide each year, more than any forest ecosystem on Earth. This absorption capacity is equivalent to offsetting 76% of emissions from all of Africa, 21% of Europe’s, 18.5% from the US, or 4% from the whole world.

Despite its capacity to remove vast amounts of CO2 from the atmosphere, Africa accounted for just 11% of offsets issued between 2016 and 2021, with an even smaller share – only 3% – linked to the region’s natural carbon sinks. Africa should rightfully play a far bigger role in the global carbon markets that reflects its significant contribution towards mitigating the effects of climate change, according to AFC’s report.

“Instead of selling our land rights into today’s tarnished and depreciated carbon markets, we should focus on conservation and reforestation – with local actors driving the projects, the financing, the verification, and the trading,” writes Zubairu. “Our continent’s natural assets will only achieve their true value through robust mechanisms that guarantee lasting benefits delivered to local communities and governments to sustain conservation long after the initial funding is spent.”

AFC says it’s committed to take a lead role to prioritise the protection and regeneration of Africa’s carbon repositories. Through its experience of developing multi-billion-dollar projects, AFC understands what it takes to build a pipeline of bankable and de-risked carbon emissions reduction projects, said Zubairu. With its partners, AFC is one of the biggest investors in renewable energy in Africa. Its Infrastructure Climate Resilient Fund (ICRF), supported by the Green Climate Fund and the Nigeria Sovereign Investment Authority, is focused on building resilience for Africa’s systems and physical infrastructure.

The Corporation will focus its project development expertise on driving a pipeline of bankable and sustainable carbon emissions reduction projects. It is also creating the AFC Foundation to raise knowledge and awareness among governments and communities to halt the destruction of natural carbon sinks, raise financing for their conservation, and advocate for a ban on their wholesale long-term lease or sale.

“What we know for certain is that Africa’s interaction with the global carbon markets must change,” said Zubairu. “We must take ownership of the conservation and expansion of our forests. We need to create our own carbon emissions reduction value chain with global participation that captures and retains value for Africa and the world for generations.”

The full report is available here: https://apo-opa.co/481CGII

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Business

Aurionpro expands its multi-country transaction banking engagement with Diamond Trust Bank (DTB)

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Aurionpro

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers

MUMBAI, India, April 30, 2026/APO Group/ –Aurionpro Solutions Limited (www.AurionPro.com) (BSE: 532668 | NSE: AURIONPRO)a global leader in banking technology, announced the expansion and upgrade of its transaction banking engagement with Diamond Trust Bank (DTB), to modernize and enhance the bank’s corporate transaction banking capabilities across multiple countries.

Download Document: https://apo-opa.co/4edHUaC

This multi-country transaction banking upgrade covering Kenya, Uganda, and Tanzania aligns with DTB’s intent to enhance customer experience, streamline operations, and support growing transaction volumes as it expands its regional corporate banking footprint. DTB continues to focus on building a more agile, ‘digital-first’ banking experience, particularly around payments for its corporate customers across Africa, and is now well positioned to scale these capabilities. As part of its broader transformation agenda, the bank has been steadily investing in platforms that enhance scale, reliability, and service consistency across markets.

Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers. By enabling DTB to standardize and scale its transaction banking operations across countries, the platform ensures consistent service levels, stronger control, and improved efficiency. It also supports enhanced user experience, advanced security, and the flexibility to introduce new features as DTB expands its regional transaction banking footprint.

Murali Natarajan (https://apo-opa.co/48trPdk), Managing Director & CEO, DTB Kenya   commented: “We are delighted to strengthen and broaden our partnership with Aurionpro Solutions as part of DTB’s ongoing digital transformation journey across multiple markets. Our focus on innovation, operational excellence, and customer-centricity continues to guide our technology investments. This upgrade strengthens our transaction banking capabilities, enabling us to deliver greater value to our customers through robust digital channels and seamlessly integrated experiences.”

Ashish Rai, Group CEO, Aurionpro Solutions, commented: “We are pleased to deepen our multi-country engagement with Diamond Trust Bank and support the next phase of its transaction banking modernization. As DTB continues to scale across markets, platform resilience and consistency become paramount. Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility, deliver superior experiences to corporate customers, and create long-term value across geographies.”

He added, “Aurionpro’s iCashpro lays a strong digital foundation for transaction & wholesale banks across the globe to grow their corporate and SME client portfolio today, while creating a clear roadmap for next- generation capabilities in AI-driven insights, advanced automation and API-led connectivity for businesses in Kenya and across Africa.”

Distributed by APO Group on behalf of Aurionpro Solutions Ltd.

 

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Minerals Council Chief Executive Officer (CEO) Joins African Mining Week (AMW) as South Africa Improves Sectorial Investment Climate

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Energy Capital

Minerals Council CEO to share insights on policy, infrastructure and investment trends shaping South Africa’s mining industry

CAPE TOWN, South Africa, April 30, 2026/APO Group/ –The upcoming African Mining Week (AMW) conference will feature Mzila Mthenjane, CEO of the Minerals Council of South Africa, as a speaker. Scheduled for October 14 – 16, 2026 in Cape Town, the event will bring together global investors, policymakers and industry leaders, with Mthenjane’s participation highlighting the council’s commitment to engaging international stakeholders and promoting investment across South Africa’s mining sector.

His participation comes at a critical moment as the Minerals Council works closely with government on finalizing the Mineral Resources Development Bill 2025, a policy framework aimed at strengthening the country’s mining investment climate and the sector’s contribution to GDP. According to the council, the revised legislation will support new investment across the value chain as South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

The policy reforms come amid shifting production trends in the sector. In 2025, South Africa recorded declines in gold and platinum group metals output of 1.9% and 4.1%, respectively. The new regulatory framework is expected to strengthen public-private partnerships and stimulate investment, enabling South Africa to increase production and capitalize on strong global commodity prices. Increased private sector investments is crucial with South Africa seeking targeting to unlock an estimated R40 trillion in untapped iron ore potential as well as maintain its position as the world’s leading producer of chrome and manganese.

At AMW 2026, Mthenjane is expected to outline these trends, providing insights into how the council is contributing to addressing challenges disrupting the sector. Infrastructure and energy costs remain key concerns for industry players. To support the energy-intensive sector, South Africa approved a 35% reduction in electricity tariffs for major ferrochrome producers, helping stabilize an industry that has faced significant cost pressures after electricity prices surged by roughly 900% since 2008.

Logistics constraints are also a priority area for reform. South Africa’s economy is losing an estimated R1 billion per day due to inefficiencies across rail and port infrastructure. As a result, the government is considering measures supported by the Minerals Council to increase private sector participation in logistics. Planned reforms include rail modernization initiatives targeting 250 million tons of freight capacity by 2029, alongside port upgrades and private operator participation aimed at strengthening mineral exports and improving supply chain efficiency.

Beyond infrastructure and policy reforms, the Minerals Council is advocating for stronger exploration investment to support long-term industry growth.

At AMW, Mthenjane is expected to highlight these developments and outline the steps required to reinforce South Africa’s position in the global minerals supply chain. His insights will offer investors and stakeholders a timely perspective on opportunities within the country’s mining sector.

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

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Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

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African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

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