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CrossBoundary Energy Access Raises $25 Million from ARCH, Bank of America, and Microsoft Climate Innovation Fund

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4 years ago

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CrossBoundary Energy Access

CBEA’s blended finance approach creates a new model for funding rural electrification in Africa, bringing renewable electricity to one million people once the target $150 million is fully deployed

NAIROBI, Kenya, June 16, 2022/APO Group/ — 

CrossBoundary Energy Access (CBEA) (www.CrossBoundary.com/Energy-Access) will deploy a total of $50 million in capital to its near-term pipeline of solar mini-grid portfolios.CBEA plans to deploy $150 million to bring clean energy to one million people in Africa. Supports the United Nations Sustainable Development Goal Number Seven (SDG7), Affordable and Clean Power for All.

Africa’s first project financing facility for mini-grids, CrossBoundary Energy Access (CBEA), announced $25 million in new funding commitments from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft Climate Innovation Fund. This investment will leverage an additional $25 million in senior debt to deploy $50 million of capital into CBEA’s near-term pipeline of solar powered mini-grids.

CBEA will deploy a total of $150 million over the next two years to bring clean energy to one million people in Africa. The mini-grids combine solar and batteries to provide 24/7 grid-quality power to households and businesses. This initiative will enable individual local residential and small business subscribers to access renewable electricity for the first time. These solar powered mini-grids will help bridge the gap by bringing clean electricity to rural areas of Africa that do not presently have access to electricity.

According to the International Energy Agency (IEA), the solar mini-grid sector needs $187 billion to achieve universal energy access by 2030. CBEA believes project finance is key to unlocking the long-term, infrastructure-type capital that the mini-grid sector needs. CBEA first pioneered its blended project finance structure in 2019 with funding from Rockefeller Foundation, Ceniarth, DOEN Foundation, Shell Foundation and UK Aid.

This initiative will enable individual local residential and small business subscribers to access renewable electricity for the first time

According to the IEA, more than 600 million people in Africa do not have access to electricity. This puts a brake on economic growth, productive investment, job creation, and poverty reduction. Solar mini-grids provide a solution to this issue, unlocking the potential of those living without electricity. CBEA’s blended finance approach creates a new model for funding rural electrification in Africa, bringing renewable electricity to one million people once the target $150 million is fully deployed.

Gabriel Davies, Managing Director and Head of Energy Access at CrossBoundary, says, “CrossBoundary Energy Access has grown up with the sector and this fundraise is a testament to the work of the developers, governments, and donors over the last few years. Confidence from ARCH, Bank of America, and Microsoft, reflects the growing maturity of both the mini-grid sector, and its ability to attract institutional capital. Our investors believe the mini-grid sector is ready to scale and that 2022 will mark an inflection point in its growth. Work is still needed on every aspect of mini-grids including regulation, business model, and subsidy programs. But we’re excited by the step change in scale and pace that we’re seeing from developers, investors, regulators, and donors, and we’re encouraged by the amount of capital the sector is prepared to absorb in the next 24 months.”

Humphrey Wireko, Managing Director, CrossBoundary Energy Access, says, “This is a crucial step for CrossBoundary Energy Access towards unlocking the private and public capital needed to scale the mini-grid sector. We look forward to mobilizing this investment to bring the projects in our pipeline to life, and providing power to African homes and businesses through these distributed renewable assets.”

William Barry, Managing Director, ARCH Emerging Markets Partners Limited’s Africa Renewable Power Fund (ARCH ARPF), says, “We believe that distributed renewables, including mini-grids, are a critical component of Africa’s energy future, and CrossBoundary Energy Access has developed a thoughtful, blended approach to the challenge of unlocking capital for the sector. At ARCH ARPF, we aim to partner with strong management teams and invest in scalable business models that offer compelling alternatives to their customers. We are excited to support them to scale.”

Amy Brusiloff, Community Development executive for Environmental, Social and Governance, at Bank of America, says, “Through this investment, Bank of America is supporting clean energy solutions in rural, hard to reach areas of Africa and helping to drive the transition to clean energy for all. This innovative blended finance structure by CrossBoundary Energy Access aggregates renewable energy mini-grid projects to achieve scale and reduce risk, which more readily enables large institutions to invest.”  

Brandon Middaugh, Director, Microsoft Climate Innovation Fund, says, “Reaching universal electrification in Africa requires scaling affordable and clean energy solutions. CrossBoundary Energy Access’s innovative approach to mini-grids unlocks clean energy solutions for the millions of Africans who still lack access to power. Microsoft is proud to help scale mini-grid solutions that advance climate equity by providing clean energy access to more businesses and communities.”

ARCH Emerging Markets Partners Limited was advised by Bowmans Kenya. The lenders were advised by Latham & Watkins.

Distributed by APO Group on behalf of CrossBoundary Energy Access.

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Business

Kora highlights the growing importance of payment infrastructure as stablecoin adoption accelerates

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37 minutes ago

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July 1, 2026

By

Kora

The conversation is shifting from what is possible to what can be implemented securely, compliantly and efficiently

AMSTERDAM, The Netherlands, July 1, 2026/APO Group/ –As stablecoins continue to gain traction across the financial services industry, businesses are increasingly focused on the infrastructure required to support their adoption at scale. The conversation is shifting from what is possible to what can be implemented securely, compliantly and efficiently.

 

This was a key theme at Money20/20 Europe 2026, where global fintech leaders gathered to discuss the future of payments. Across the event, discussions centred on artificial intelligence, regulation and reducing fragmentation across global payment systems.

Industry leaders focus on practical implementation 

As businesses explore new payment rails, the need for reliable infrastructure that connects local and global markets becomes even more important

Sessions such as the live Agentic AI demonstrations and the Policy20 regulatory roundtables highlighted the industry’s growing focus on execution rather than experimentation. Stablecoins featured prominently in conversations around faster settlements, lower costs and more efficient cross-border payments.

“Kora is well-positioned for where the industry is heading,” said Tofunmi, Head, Global Partnerships at Kora. “As businesses explore new payment rails, the need for reliable infrastructure that connects local and global markets becomes even more important.”

Connecting Africa to the future of payments 

Money20/20 Europe reinforced the importance of payment infrastructure in enabling the next generation of financial services. Throughout the event, Kora was recognised as a trusted African payment infrastructure provider, with discussions focused on the company’s expansion efforts and growing settlement capabilities.

As demand for faster and more connected payment experiences grows, Kora continues to build the infrastructure that enables businesses to collect, send and settle payments across Africa and globally.

Distributed by APO Group on behalf of Kora.

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Business

Nominations Open for Africa Women Innovation and Entrepreneurship Forum (AWIEF) Awards 2026 Honouring and Celebrating Africa’s Women Entrepreneurs

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2 hours ago

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July 1, 2026

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AWIEF

The AWIEF Awards was established since 2017 to recognise and celebrate the remarkable achievements of female founders and business leaders across Africa

CAPE TOWN, South Africa, July 1, 2026/APO Group/ –The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org) calls for nominations for the 2026 edition of the prestigious AWIEF Awards.

The AWIEF Awards was established since 2017 to recognise and celebrate the remarkable achievements of female founders and business leaders across Africa.

The Awards have showcased and honoured exceptional women leaders who are building successful businesses, driving innovation, creating jobs, and contributing to Africa’s economic growth, while inspiring future generations and highlighting the vital role of women in Africa’s development.

To remain relevant and responsive to Africa’s evolving entrepreneurial ecosystem, this year the Awards categories have been refined to better reflect emerging trends, innovation, and impact.

In addition to updating the existing categories, AWIEF has introduced the Male Ally Award to recognise male leaders whose actions and influence have contributed meaningfully to advancing women’s economic empowerment and leadership.

The winners of the AWIEF Awards 2026 will be announced at a high-profile awards ceremony and gala dinner on 11 November 2026, as the grand finale of the AWIEF 2026 Conference, taking place on 10 and 11 November 2026 at the Cape Town International Convention Centre (CTICC), Cape Town, South Africa.

Awards Categories

Woman to Watch Award

The Woman to Watch Award recognises a female leader under 35, or founder/leader of a venture under three years old, based in or primarily operating in Africa, who is already demonstrating strong early traction through revenue, pilots, partnerships, users, or beneficiaries.

Tech Pioneer Award

This award spotlights a female founder or senior leader with at least five years’ experience in technology or innovation, who is using tech, digital tools, data, or deep-tech solutions at the core of the business or initiative to tackle a clearly defined African challenge such as access, inclusion, efficiency, or scalability.

 

Agri Award

Honouring outstanding women in agriculture, this Award celebrates female founders and leaders with 5+ years in agriculture, agri-processing, agri-tech, food systems, or value chains, who are transforming Africa’s food systems and value chains while advancing productivity, sustainability, food security, or farmer livelihoods.

Creative Visionary Award

The Creative Visionary Award recognises a female entrepreneur, creator, or leader with at least five years’ experience in the creative industries (such as fashion, design, media, film, music, art, architecture, digital content, or cultural industries) who is significantly shaping African narratives, culture, or creative economies.

 

Impact for Good Award

The Impact for Good Award honours a female founder or leader whose initiative has been active for at least three years in sustainability, climate, energy, social innovation, community development, health, or education, and can demonstrate measurable social and/or environmental impact well beyond intent or pilot stage.

 

Male Ally Award

The Male Ally Award honours a male leader, founder, executive, policymaker, or senior decision-maker with 10+ years of leadership who goes beyond words to actively break barriers for women in Africa, driving sustained, systemic change for women’s economic empowerment.

 

Lifetime Achievement Award

The Lifetime Achievement Award honours a visionary, female leader with at least 25 years of leadership, entrepreneurship, or public service whose lifelong contribution has helped shape Africa’s economic, social, or institutional development and paved the way for future generations of women trailblazers.

 

No nominations are required for this category. Each year AWIEF identifies and selects from across African regions the recipient for this special award.

 

How to Nominate

You can nominate yourself or someone else. To submit nominations, please go to: https://apo-opa.co/4p2fAvk

Nominations close on 3 August 2026, at 11:59 PM CAT.

Important Dates

  • Nominations Open: 30 June 2026
  • Nominations Close: 3 August 2026
  • Finalists Announced: September 2026
  • AWIEF 2026 Conference and Awards Gala Dinner: 10 – 11 November 2026

Distributed by APO Group on behalf of Africa Women Innovation and Entrepreneurship Forum (AWIEF).

 

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Events

China’s digital hub Hangzhou hosts conference on AI, OPC

Published

23 hours ago

on

June 30, 2026

By

OPC

HANGZHOU, CHINA – Media OutReach Newswire – 30 June 2026 – The inaugural AI+OPC Innovation and Development Conference was held from June 29 to 30 in Shangcheng District, Hangzhou, capital city of east China’s Zhejiang Province. Centered on one-person company (OPC), a new form of smart economy in the AI era, the conference program comprised one opening ceremony and two parallel breakout sessions.

It gathered around 400 delegates from government departments, industry associations, financial institutions, AI enterprises and OPC startup operators across the country. Participants exchanged insights on AI innovation pathways and cross-industry integration strategies, injecting strong impetus into Hangzhou’s ambition to develop a national benchmark hub for AI+OPC entrepreneurship.

A series of key launches and milestone ceremonies took place during the opening segment. Official releases included the 2026 national OPC development observation report, Hangzhou’s 2026–2028 action plan and supporting policies to build a national AI+OPC entrepreneurship hub, and a catalog of actionable AI+OPC application scenarios. Attendees also received an in-depth interpretation of the specifications for AI-enabled OPC community services and evaluation.

The ceremony featured multiple landmark initiatives: plaque awarding for Hangzhou’s priority AI+OPC incubation communities and dedicated observation sites, the official launch of the AI+OPC Community Alliance initiative, and a kickoff marking the official construction of the national AI+OPC entrepreneurship hub.

The open forum session featured keynote speeches from distinguished industry and academic leaders. Speakers included Pan Yunhe, former executive vice president of the Chinese Academy of Engineering and professor at Zhejiang University; Liang Gui, former executive vice governor of Jiangxi Province and ex-director of the Torch High Technology Industry Development Center under the Ministry of Industry and Information Technology; and Zou Ling, head of Hong Hub, Shangcheng District’s single-member unicorn startup acceleration community, who shared cutting-edge insights from varied perspectives.

A panel dialogue followed, bringing together representatives from Moshu OPC Community (Beijing E-Town), the School of Future Science and Engineering at Soochow University, Qingju Hub · Future Digital Intelligence Port (Shangcheng District), and Puhua Capital for in-depth industry exchanges.

Complementary concurrent events held throughout the conference included an OPC capital-industry matchmaking salon, a symposium on industry-education integration for AI-powered OPC sectors, and a national exchange forum for AI+OPC community practitioners.

OPC has emerged as a vibrant new engine driving economic vitality and underpinning high-quality development. Against the backdrop of a new development era, the inaugural Hangzhou AI+OPC Innovation and Development Conference unites OPC innovators nationwide.

Drawing on the creative energy of millions of independent super-individual operators, the event delivers sustained digital momentum to fuel Hangzhou’s super-individual economy, while rolling out replicable local practices and actionable Hangzhou solutions to advance high-quality growth of smart economies nationwide.

 

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