his groundbreaking event is scheduled to take place from October 16-19, 2024, at SAFEX in Algiers, Algeria

CANEX WKND 2024 represents a pivotal moment for creative and cultural industries in Global Africa to showcase their talent and thrive

ALGIERS, Algeria, August 7, 2024/APO Group/ —

African Export-Import Bank (Afreximbank) (www.Afreximbank.com), in partnership with the African Union Commission (AUC), the African Continental Free Trade Area (AfCFTA) Secretariat, and the Government of the People’s Democratic Republic of Algeria, proudly announces the return of the Creative Africa Nexus Weekend (CANEX WKND) 2024. This groundbreaking event is scheduled to take place from October 16-19, 2024, at SAFEX in Algiers, Algeria. 

CANEX WKND 2024 seeks to build on the success of previous events, most recently CANEX at IATF2023 that was held in Cairo. Last year’s edition brought together delegates from across the continent representing a wide range of creative sectors. The event featured over 21 live performances, 115 industry-leading speakers and experts, 13 masterclass sessions, and an awe-inspiring fashion show. Attendees also enjoyed a high-energy music concert, exciting gastronomical showcases and a vibrant marketplace and exhibition center. 

CANEX WKND will further develop conversations and provide even more business to business/government opportunities through a 4-day gathering that will be held under the theme: One People, United in Culture, Creating for the World. 

Mrs. Kanayo Awani, Executive Vice President Intra Africa Trade and Export Development stated, “CANEX WKND 2024 represents a pivotal moment for creative and cultural industries in Global Africa to showcase their talent and thrive. By bringing together diverse talents from across the continent and diaspora, we’re not just showcasing creativity; we’re not just showcasing creativity; we’re building a robust ecosystem that will propel African culture onto the global stage.” 

Highlights of CANEX WKND 2024 include: 

• CANEX Music Factory: Hundreds of songwriters and beatmakers will converge at the live recording studios within the heart of the CANEX Exhibition. This year’s event will include the launch of an album featuring songs recorded during last year’s Music Factory.  
• CANEX Music Concert: Will take the audience on a rhythmic journey across the continent, featuring some of Africa’s most dynamic and groundbreaking artists such as the unstoppable Scorpion Kings, Qing Madi and the soulful Sofia Nzau, just to name a few. 
• CANEX Fashion Show: This year, we are bringing together 10 of the most innovative and bold designers from across Africa and the Diaspora, all set to unveil their exciting collections at the magnificent Algiers Botanical Gardens.  
• EXHIBITION: A dynamic business-to-business exhibition area designed for creative brands and organizations, offering exceptional opportunities to sell to international buyers. 
• GASTRONOMY Showcase: This showcase will be turning up the heat with a special appearance by some of the most celebrated chefs from Africa and the Diaspora. Culinary maestros will bring their stories, expertise, and mouthwatering recipes to life weaving the rich tapestry of African culture into every dish they create. From the vibrant streets of Lagos to the soulful kitchens of the Caribbean and the soothing landscapes of Cape Town, each chef will showcase the diverse flavours that define African cuisine across the globe. 
• ART EXHIBITION: A stunning visual art installation featuring the works of iconic artists along with emerging talents at the National Museum of Fine Arts in Algiers.  
• CANEX Book Factory Prize for Publishing in Africa: Celebrating literary excellence   from the continent 
• CANEX Shorts Awards Ceremony: Recognizing outstanding achievements of young filmmakers in short-form content creation. 

Attendance and Registration 

While attendance is free throughout the 4 days, pre-registration is essential. For more information or to register for CANEX WKND 2024, visit www.CANEX.Africa and be part of shaping the future of Africa’s creative industries. 

Join us in Algiers as we celebrate the power of African creativity and its impact on the global stage. 

Distributed by APO Group on behalf of Afreximbank.

54 Collective establishes a new era of venture capital in Africa, offering up to $500,000 in equity and non-dilutive capital and value-add support for its founders

We are more supportive than ever of unlocking opportunities for entrepreneurs and ensuring a level playing field for youth and women founders

JOHANNESBURG, South Africa, August 7, 2024/APO Group/ —

Today, leading African venture capital firm, Founders Factory Africa (FFA), has announced its rebrand and name change to 54 Collective (https://54Collective.VC/), evolving its business model to better support transformative technology ventures across the continent through catalytic capital and value-add support through its Venture Success Platform.

Download document: https://apo-opa.co/4diDADB

54 Collective, builds on its exceptional track record of investing in and scaling early-stage ventures in Africa. The new name, 54 Collective, reflects the firm’s ambitious pan-African vision, aspiring to help entrepreneurs grow their businesses to serve all 54 African countries.

The firm is a commercial-first investor and embeds impact in everything it does. 54 Collective invests in ventures from idea to Pre-Series A stage by offering catalytic capital, and value-add support through its Venture Success Platform.

“Our catalytic capital and value-add support to founders, through our Venture Success Platform, signifies our evolution and ongoing mission to support entrepreneurs across Africa and enable them to build without boundaries to drive commercial and impact returns. Our name change to 54 Collective communicates our continued commitment to African founders. We are more supportive than ever of unlocking opportunities for entrepreneurs and ensuring a level playing field for youth and women founders,” commented 54 Collective CEO Bongani Sithole.

Investment strategy

54 Collective, offers equity and non-dilutive capital up to a total of $500k, enabling founders to scale their ventures across the continent. To break barriers of access, female founders receive an additional $150k, to their male counterparts, in the form of a non-dilutive capital. 

The Venture Success Platform is made up of a team of highly experienced venture specialists who provide tailored support. This is in the form of product, growth, commercial relationships, business strategy, talent, technology and data to build ventures for scale. The team also ensures that founders have access to the right funding by preparing them for investor readiness, investor access, fundraising strategies, unlocking debt and impact capital. The Venture Success Platform empowers founders to succeed globally by facilitating networking and community building opportunities.

This unique combination of significant funding and comprehensive support distinguishes 54 Collective as the only Venture Capital firm in Africa offering early-stage founders with the highest amount of catalytic capital and support from the largest Africa-based venture capital team with over 70 staff members in Kenya, South Africa, Nigeria and the UK.

The firm has evolved from investing only in the Agtech, Fintech, and Healthtech sectors to being sector-agnostic in its investments, supporting more founders across many sectors on the continent. ​​54 Collective helps founders navigate complex challenges to achieve commercial success and make an impact on the continent through economic growth and job creation.

In 2023, Founders Factory Africa was named one of the top venture capital investors in Africa, with an active portfolio of over 50 ventures across 10 countries. To date, the firm has supported more than 70 ventures across Africa and helped its portfolio startups to raise nearly $140 million in follow-on capital.

A future of empowerment

With seven of the world’s fastest-growing economies in Africa, the continent’s venture capital sector is rapidly expanding, with $6 billion invested annually. However, this represents less than 1 percent of global venture funding, indicating a significant unmet need for smart capital.

“We are pursuing opportunistic investments in different sectors across the continent where there are uniquely large opportunities for startups to scale and create sustainable impact in these sectors. Our goal is to invest in 105 startups across Africa in the next five years, enabling entrepreneurs to provide solutions to the continent’s biggest challenges and transforming lives and industries,” concluded Sithole.

The firm is well on its way to achieving many of its five-year goals which range from enhanced financial inclusion, improved healthcare access, and creating dignified and fulfilling work to creating a gender forward portfolio. 54 Collective is targeting a portfolio where 50% or more of its startups are founded by women. Currently, from the 17 investments made between January 2023 and July 2024 in its portfolio, 45% of them are founded by women. The firm’s investments are also creating social economic impact in the wider economy. For example, Asaak, a vehicle asset financing company has improved financial inclusion for over 11,000 bodaboda drivers. An impact study uncovered that 79% of these drivers improved their quality of life significantly and 80% increased their income after receiving credit from Asaak.

Speaking on the significance of the brand evolution and future ambitions, 54 Collective’s Executive Chairman and UTOPIA CEO Roo Rogers said, “54 Collective is a powerful economic and social force in the African economy. It is anchored with strong roots on the continent and exceptional network and reputation across the globe. Together with our sister funds, we continue our mission to  redistribute investment and knowledge pathways towards a more inclusive, relevant, and equitable future for the Global South.”

54 Collective’s vision is to create a future where African entrepreneurship drives generational progress and prosperity across the continent. The firm’s new name, catalytic capital, and value-add Venture Success Platform offering, marks a new era for the venture capital ecosystem. 54 Collective is redefining investing across Africa, enabling its founders to build without boundaries and solve some of Africa’s biggest challenges.

Distributed by APO Group on behalf of 54 Collective.

Following the launch of a gas-to-industry supply project in Cameroon, Perenco is set to unlock a new wave of investment and project development

The Chamber eagerly awaits how Perenco will continue to drive progress and contribute to Africa’s energy future in the coming years

JOHANNESBURG, South Africa, August 7, 2024/APO Group/ —

Reaffirming its unwavering dedication to Africa’s energy sector, independent hydrocarbon producer Perenco recently launched its first-ever gas-to-industry supply project in Cameroon. Last July, the company put into service the Bigapa Gas Processing Center, marking an important milestone while strengthening its historic partnership with Cameroon’s National Hydrocarbons Corporation (SNH).

The processing center is set to source gas from the Sanaga South Field and supply the Keda tile factory with between 3.5 million and 6.5 million cubic feet of natural gas per day. Key to regional industrial development in Cameroon, gas will be transported via a 6-km SNH-operated pipeline and used to power the factory’s electrical generators and kilns.

As the voice of the African energy sector, the African Energy Chamber (AEC) commends this milestone achieved by Perenco, which represents a strategic growth opportunity for Cameroon and the wider West African region. Boasting a wealth of experience in oil and gas exploration, production, operation and management, Perenco continues to foster technological advancement in the markets in which it operates and pave the way for a brighter future for all Africans.

Perenco’s milestone in launching its first gas-to-industry project in Cameroon builds upon a successful track record of project delivery in the country, in collaboration with SNH. Last June, the company acquired a 9.9% stake in floating LNG player Golar LNG, with which Perenco and SNH serve as a partner in the Cameroon FLNG Terminal. The project is served by Golar LNG’s Hilli Episeyo FLNG vessel, which offloaded its 100^th cargo of LNG last October.

In March 2024, Perenco initiated a five-well drilling program at the Kita Eden field, located in the northern part of the Rio del Rey Basin offshore Cameroon. The company is using its newly developed water barge designed for shallow waters and the LUG drilling platform provided by marine services firm Dixstone to explore the basin. The project – which falls under a 20-year license agreement signed in 2023 by Perenco, the Cameroonian government and international exploration company Addax Petroleum – highlights Perenco’s long-term commitment and ability to unlock stranded reserves in mature assets.

Perenco also recently closed a deal with oil and gas supermajor Eni in the Republic of Congo. Closed in March 2024, the $300-million deal was first announced in June 2023 and involves the purchase by Perenco of some of the supermajor’s upstream assets in the country. Falling in line with Perenco’s strategy to expand operations in Africa, the deal serves to support the Republic of Congo and Europe’s broader energy security and energy transition targets.

Through its operations in Cameroon and the Republic of Congo – as well as activities in the Democratic Republic of the Congo, Chad, Gabon and Tunisia – Perenco represents a key player in the continent’s upstream industry. Demonstrating its technical acumen across diverse energy landscapes, Perenco spud an appraisal well last February near the Hylia South West discovery offshore Gabon, targeting the Ntchengue Ocean reservoir and lower Madiela carbonate reservoir. The appraisal is designed to further inform Perenco’s understanding of the reservoirs and narrow their estimate of oil resources in place, which are presently estimated at 20-100 million barrels.

Perenco also announced a final investment decision in February 2023 for the construction of a 700,000-ton-per-year LNG production facility at the Cap Lopez terminal in Gabon. Representing an investment of over $1 billion, the unit will take up to three years to complete and is expected to make Gabon self-sufficient in butane production and an exporter of LNG, with first production targeted for 2026.

“From its groundbreaking gas-to-industry project in Cameroon to substantial investments across the continent’s mature oil and gas markets, Perenco’s recent achievements underscore a remarkable commitment to Africa’s energy sector. The company’s innovative approach and strategic investments set a high standard for sustainable growth and industrial development. The Chamber eagerly awaits how Perenco will continue to drive progress and contribute to Africa’s energy future in the coming years,” stated NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.