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#BlackExcellence: Strategies for Capital Access in the Global Economy

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GBIS 2024 will unite Black businesses and global investors, and showcase investment opportunities and potential returns across various business cases within the global Black Community

DUBAI, United Arab Emirates, January 29, 2024/APO Group/ — 

The global economy is expanding, providing an opportunity for Black-owned businesses to succeed. Various mechanisms have been adopted to facilitate access to the necessary capital required by these businesses to align with the dynamic growth of various economic sectors.

Global Black Impact Summit

The Global Black Impact Summit (GBIS) 2024 – scheduled for February 27 in Dubai – plays a pivotal role in assisting Black-owned businesses to secure capital. Organized by the Black Impact Foundation, a Dutch-based global organization empowering the Black Community and advocating for inclusivity on the global stage, GBIS 2024 will take place under the theme “Black Excellence: Unleashing the Unexplored Potential for Global Unity.” The movement serves as a premier platform for Black-owned businesses, startups, and projects to engage with potential global investors, fostering discussions and facilitating the signing of investment deals. Through a series of panel discussions, investment-focused exclusive networking sessions, and project exhibitions, GBIS 2024 will shed light on best practices and showcase diverse financial platforms dedicated to empowering Black-owned businesses.

Online Crowdfunding Platforms

Crowdfunding platforms such as Kickstarter, Indiegogo, and GoFundMe have become instrumental for Black-owned projects to showcase their innovative business ideas and garner support from a diverse audience. Beyond serving as a funding source, these platforms act as a means to validate market interest in the products or services offered by Black entrepreneurs. Research conducted by the University of Houston Conrad N. Hilton College of Global Hospitality Leadership reveals a significant evolution in funding dynamics for Black-owned businesses on Kickstarter. Businesses leveraging online crowdfunding platforms are now nearly four times more successful in securing funding.

GBIS 2024 will shed light on best practices and showcase diverse financial platforms dedicated to empowering Black-owned businesses

Venture Capital Firms

Driven by a push to ensure inclusivity and gender diversity across the globe, venture capital firms have increased focus on funding Black-owned businesses. In the U.S. alone, venture capital directed to Black businesses reached record high in 2020 and continues to increase with firms such as Balmer Group – owned by Steve Ballmer, former Microsoft CEO – releasing $400 million in investment to support Black entrepreneurs in 2022. Across Europe, platforms like the UK’s Black Seed Ventures are reshaping capital access for Black-owned businesses. Since its inception in 2021, the seed fund has secured over £5 million in funding to support 30 Black-led startups within the healthcare, deeptech, and artificial intelligence sectors by 2026. Google’s Startups Black Founders Fund allocated $100 million in 2022 to support the Black startup community across Africa, Europe, Brazil, and the U.S., building on the $30 million already directed towards this community since 2020.

Minority-Owned Business Grants

Grants offered by government agencies, non-profit organizations and various corporations to empower minority entrepreneurs have evolved into not only a crucial source of financial assistance for Black-owned businesses but also a significant financial catalyst, propelling the expansion of economies. South Africa’s Department of Trade, Industry, and Competition (DTIC) in collaboration with other government agencies such as the Industrial Development Corporation and the National Empowerment Fund, allocated R32 billion in grants to nearly 800 Black industrialists between 2016 and 2020. These investments have fostered socioeconomic development and shaped job creation with up to 120,000 jobs created and preserved. As the DTIC amplifies investments in Black-owned businesses to reduce reliance on imports by 2026, government grants emerge as a significant opportunity for Black entrepreneurs to access capital.

Banks

Banks play a pivotal role in empowering Black-owned businesses by facilitating access to capital. In the UK, Lloyds Bank has collaborated with the Black Business Network and FounderVine to offer financial support in the form of loans and grants to Black entrepreneurs. Additionally, in the U.S., online banking platform Guava is providing specialized services to enable Black-owned businesses to secure essential capital.

Register here (www.GlobalBlackImpact.com) for GBIS 2024 and gain first-hand insight into the various strategies to secure capital for your business.

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

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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