Connect with us

Business

Generation Africa Awards US$116,000 to Winners in the 2023 GoGettaz Agripreneur Prize Competition

Published

2 years ago

on

Four GoGettaz Impact Award Winners were also announced at the closing Youth Innovation Awards Celebration the following day

DAR ES SALAAM, Tanzania, September 11, 2023/APO Group/ — 

Two visionary agripreneurs clinched top honours in the fifth annual GoGettaz Agripreneur Prize Competition Finals (https://GenAfrica.org/GoGettaz/) held at the Africa Food Systems Forum Summit 2023 (https://apo-opa.info/3sVizMP). During an exciting Youth Town Hall event chaired by H.E. President Samia Suluhu Hassan of Tanzania, Generation Africa awarded two grand prizes of $50,000 to Ms Hasina Andriatsitohaina, Founder and CEO of Mad’Arom in Madagascar, and Mr Ikenna Nzewi, co-Founder and CEO of Releaf Africa in Nigeria.

Four GoGettaz Impact Award Winners were also announced at the closing Youth Innovation Awards Celebration the following day. Each Impact Award winner received a US$2,500 prize. Recognising the extraordinary contributions of all twelve GoGettaz young entrepreneurs who travelled to Tanzania to compete in the live pitch contest from across the continent, Generation Africa partner USAID donated a further US$1,000 to each of the remaining six finalists. All Gogettaz winners were lauded for their entrepreneurial vision, diligent preparation, expertly crafted on-stage pitches, and the innovative new businesses they’ve each launched in Africa’s agrifood sector.

“This year’s summit theme is ‘Recover, Regenerate, Act: Africa’s Solutions to Food Systems Transformation.’ Far from being a distant hope, these GoGettaz have demonstrated to everyone at the Summit that they are Africa’s solutions,” said Dr Agnes Kalibata, President of the Alliance for a Green Revolution in Africa (AGRA). “I hope the investors were paying attention because I can clearly see how some of these businesses have the potential to impact millions of lives across the continent in the next decade.”

A food technology specialist engineer in agriculture and environmental sciences, Hasina Andriatsitohaina of Madagascar received this year’s grand prize in the female-led category. Hasina’s company, Mad’Arom encourages the development of the spice and aroma value chains by promoting the agroforestry system with around 2,000 producers in rural areas of Madagascar, and by collecting and transforming the products into essential oils before wholesaling it to the food, cosmetics, and perfume industries on the national and international markets. The agroforestry system not only preserves and restores Madagascar’s soil and biodiversity, but also generates income for small-scale producers throughout the year. The post-harvest processing of spices is an important activity, generating jobs for young people and women in rural areas. These activities enable small-scale producers to be more resilient in the face of climatic disasters, such as the cyclones that attack the eastern part of Madagascar each year.

The grand prize in the male-led category went to computer scientist Ikenna Nzewi, of Releaf Africa in Nigeria. Its value proposition is lowering food costs through efficiency, which it achieves with both software and hardware solutions. Returning six years ago to his home country of Nigeria after growing up and studying in the USA, Nzewi’s multi-pronged approach features geospatial software to find viable farms and a mobile platform to purchase oil palm fruit from rural small-holders. To process the palm nuts in a sustainable and environmentally sensitive way, Releaf designed the world’s most advanced palm nut de-sheller, named “Kraken”. So far, Releaf has worked with 5,600 farmers with a retention rate of 86% and put an additional $500,000 in their pockets while eliminating child labor, providing access to finance, and improving traceability using artificial intelligence. Releaf plans to add 20,000 more farmers in the next five years.

Strive Masiyiwa, Chair Emeritus of AGRA and Generation Africa founding member, expressed his admiration for the innovative spirit of all the young entrepreneurs taking part at this year’s AGRF Summit: “Our continent’s young agripreneurs are a testament to Africa’s innovative vision in action. I salute all our entrepreneurs, hailing from across Africa. The young men and women who competed in the live pitch competitions at the AGRF Summit this year are each winners for our continent, whether they received a prize on stage or not. We must continue to celebrate and support these amazing young people, most of whom designed innovative technology solutions to tackle both food system and environmental challenges while creating new businesses and jobs. Generation Africa’s agripreneurs are leading the transformative change that needs to happen across Africa’s agrifood sector.”

Amath Pathe Sene, Managing Director of the Africa Food Systems Forum, underscored the significance of amplifying youth-led businesses at the AGRF Summit, “We bring together policymakers and industry leaders, so conversations can evolve into actionable solutions. Youth-led businesses like these impressive GoGettaz finalists belong in the conversation because their innovative ideas are pivotal to shaping the future food system.”

GoGettaz Social and Environmental Impact Award Winners

Biotechnology entrepreneur Pelkins Ajanoh, founder of CassVita in Cameroon, impressed the judges with his proprietary process using microbes to extend the shelf-life of cassava from 3 days to 18 months. Community development specialist Margaret Wanjiku, founder of Pollen Patrollers in Kenya, developed an IoT smart device to track beehive metrics that are analysed by AI to create actionable insights and precision pollination maps to help farmers more effectively pollinate their fields. Hailing from Sierra Leone, electrical engineer Martin Dainbaquee, founder of Eco-friendly Incubator Company, designed an innovative high-capacity solar-powered incubator, its own chicken breeds, and high quality feed, tackling several needs in the egg and poultry industry including over-dependence on foreign imports. A biotechnology specialist with expertise in plant tissue culture, the youngest finalist this year was Impact Award winner Crescentia Mushobozi of Tanzania Vijana Agribusiness Enterprises (VIABLE).  Her company has developed a superior potato strain, engineered with Africa’s largest gene bank, in her vision to solve malnutrition and food insecurity. In the process, VIABLE involves thousands of Tanzanian youth in “making agriculture fun”.

GoGettaz Impact Award winners were celebrated at Friday’s Youth Innovation Awards ceremony alongside winners of the agritech-focussed Pitch AgriHack Awards and the AYute Africa Challenge, both funded by the Heifer Foundation.

Generation Africa founding member Svein Tore Holsether, President and CEO of Yara International, emphasized the urgency of youth efforts in food systems transformation and the essential role of young entrepreneurs, stating, “In the face of mounting food security challenges, it is imperative to revolutionize our food systems. Young entrepreneurs are the torchbearers of sustainable solutions. We are proud to support their endeavours in reshaping the future of food.”

The twelve GoGettaz Agripreneur Prize finalists travelled from across Africa to pitch their businesses live on stage to nine GoGettaz Judges. For the fifth year in a row, the Grand Finale Pitch competition featured well-known international choreographer Sherrie Silver from Rwanda who dazzled the stage with young dancers from Tanzania and across Africa. An IFAD Advocate for Rural Youth, Silver also served as Generation Africa’s Master of Ceremonies throughout the week.

Along with online coaching, the twelve finalists received two days of in-person pitch training at the Summit. Additional networking sessions and facilitated participation in the AGRF Agribusiness Deal Room gave the youth-led businesses an opportunity to connect with future partners, investors, and collaborators.

Dickson Naftali, Head of Generation Africa, called on the youth to follow the example set by the GoGettaz agripreneurs, “If you want to make a real difference, to help people and build a healthier planet, the agrifood industry is where your energy will find purpose. The truth about our future is that we need an African food system that is African-owned and African-led. And we want to reach as many young Africans as we can with this message.”

The 2023 GoGettaz campaign reached almost 7 million people, bringing half a million visitors to the Generation Africa website and GoGettaz community platform. The fifth annual GoGettaz Agripreneur Prize Competition received completed applications from 43 African countries, with 9 countries represented in the Top 12. Application data also shows an increase in female applicants this year. This is a very encouraging shift in an industry that is perceived as male dominated, while the reality of African food production is very much in the hands of women small-holder farmers.

With the conclusion of the Africa Food Systems Summit, the GoGettaz Agripreneur Prize Competition is also completed for the year.  Applications for 2024 will open again in April/May next year. The industry-leading partners and sponsors of Generation Africa are proud of the exceptional innovation, dedication, and leadership displayed by all the young entrepreneurs who participated this year throughout the process. Coming into focus for the rest of 2023 are mentorship programmes, such as the Generation Africa Fellowship Programme, and the important work of reshaping national policies for better support of youth and women in agriculture. The new Generation Africa Online Academy was also launched at the Summit this week, in an exciting partnership with Microsoft which designed the platform.

2023 GoGettaz Agripreneur Prize Judges

Marisa Soares – Senior Vice President Innovation & Impact – Yara International

Dr. Kelley Cormier – Food Safety Division Chief – USAID Bureau for Resilience and Food Security

Jean Muthamia-Mwenda – Global Lead, Youth Employment & Entrepreneurship – SNV Netherlands

Mildred Nadah Pita – Head Public Affairs Science & Sustainability Africa – Bayer AG

Agnes Asiimwe Konde – Vice President – PID – AGRA

Jubilate Lema – Senior Investment Analyst – Africa Opportunity Fund

William Nyaoke – Regional Director East-Africa – Norfund

Paul Newnham – Director – SDG 2 Advocacy Hub

Wambui Chege – Director, Agriculture, PANA – The Mastercard Foundation

Generation Africa Co-Founders:

African Development Bank Group: https://www.AfDB.org/ 

Alliance for a Green Revolution in Africa: https://AGRA.org/

The AGRF (Africa Food Systems Forum):  https://AGRF.org/

Bayer:  https://www.Bayer.com/en/agriculture

Corteva Agriscience: https://www.Corteva.com/

Econet Group: https://www.EconetAfrica.com/

Heifer International:  https://www.Heifer.org/ 

Norwegian Agency for Development Cooperation: https://www.norad.no/

Southern African Confederation of Agricultural Unions: http://www.SACAU.org/

Syngenta Foundation for Sustainable Agriculture: https://www.SyngentaFoundation.org/

U.S. Agency for International Development: https://www.USAID.gov/

Yara International: https://www.Yara.com/

Full List of the 2023 GoGettaz Agripreneur Prize Top 12

Female Agripreneurs

Generation Africa’s agripreneurs are leading the transformative change that needs to happen across Africa’s agrifood sector

Jannifer Muthike, Dudu Masters Limited, Kenya,

https://DuduMasters.com/

Dudu Masters in Kenya is on a mission to restore Africa’s degraded farmland with its soil-enhancing Kijanni VermiCompost, a sustainable and affordable fertiliser bio-converted by insects from the organic waste of hotels and schools. Dudu Masters is sharing its skills and expertise by training 5,000 students in regenerative agriculture and insect farming.

Patience Ben, Farmavi Agro, Nigeria

https://Farmavi.com.ng/

Farmavi Agro in Nigeria brings social impact and agriculture together with a range of products that upcycle sawdust, cassava waste, and seaweed into food and fertilizers. Its goal is to reduce waste, tackle poverty and malnutrition, create employment opportunities (especially for women), and mitigate climate change.

Hasina Andriatsitohaina, Mad’Arom, Madagascar

https://apo-opa.info/460xeoc

Madagascar is rich in biodiversity, including aromatic and therapeutic plants, a signature of Madagascar on the international market due to their authenticity. The development of these spice and herb value chains is one of the main pillars of development in Madagascar’s rural areas. The income generated by the sale of these products by Mad’Arom enables poor households to meet their food and health needs year-round and send their children to school.

Patrice Wachira, Patvention Recycling Enterprise, Kenya

https://PatventionBeekeepers.business.site/

Patvention Recycling Enterprise in Kenya transforms plastic waste into durable, weather-resistant, and pest-resistant beehives. Its capacity-building initiatives and training workshops are introducing new farmers, especially women, to beekeeping and improving beekeeping practices.

Margaret Wanjiku, Pollen Patrollers, Kenya

https://PollenPatrollers.com/

Pollen Patrollers is making beekeeping in Kenya smarter with an IoT device that measures temperature, humidity, sound, foraging activity, and queen status. It uses AI and machine learning to analyse the data to create actionable insights and precision pollination maps for beekeepers and growers.

Crescentia Mushobozi, Tanzania Vijana Agribusiness Enterprises, Tanzania

https://apo-opa.info/3EzFlN1

Tanzania Vijana Agribusiness Enterprises (a.k.a. VIABLE) believes its superior potato strain, engineered in collaboration with Africa’s largest gene bank, is a key piece in solving malnutrition and the potato shortage in Africa. Its first 1,000 disease-free potato seeds yielded a 5-tonne harvest in six months. This youth-led enterprise is ready to scale.

Male Agripreneurs

Pelkins Ajanoh, CassVita, Cameroon

http://www.CassVita.com

CassVita believes climate resilient cassava root is the key to food security in the face of climate change in Africa. Its post-harvest processing techniques extends the shelf-life of cassava from 3 days to 18 months, helping rural farmers in Cameroon get real value from their crops.

Tafadzwa Ron Chikwereti, eAgro, Zimbabwe

https://eAgro.co.zw/

eAgro takes the guesswork out of farming in Zimbabwe by bundling complex technologies into a user-friendly WhatsApp chatbot. Their CropFix A.I. chatbot uses photos from a farmer’s mobile phone to diagnose pests and diseases and provide relevant, location-based agronomic advice in seconds.

Martin Dainbaquee, Eco-friendly Incubator Company, Sierra Leone

https://apo-opa.info/3Pzk7oU

The Eco-Friendly Rechargeable Incubator and Local Animal Feed Processing Company has a name that says it all. It is reinventing the ailing import-dependent egg and poultry industry in Sierra Leone with locally manufactured high-capacity incubators, its own specialised chicken breeds, and a consistent supply of high quality feed.

Imani Bora, Hatch Plus, Rwanda

https://apo-opa.info/3PAY8hn

Hatch Plus in Rwanda provides automated solar hatching stations as a service, where it uses AI and computer vision to track egg fertility. Its deep learning software, Agroid, delivers poultry farming advice via SMS, giving smallholders access to affordable, healthy chicks, and real-time assistance to thrive.

Ikenna Nzewi, Releaf Africa, Nigeria

https://www.Releaf.Africa

Releaf in Nigeria is taking a holistic approach to eliminate inefficiency in the food value chain. They use their geospatial software, SITE, to find farms, their SALT software to buy crops from farmers, and Kraken, the most advanced palm nut de-shelling technology, to produce vegetable oil that is sold to food factories.

Yohan Gallet, Sealife Organics, Mauritius

https://apo-opa.info/3r7xO50

Sealife Organics in Mauritius hopes to repair its soil and sea from the damaging effects of rampant chemical fertilizers use, and is turning to the ocean for answers. Sealife Organics produces organic fertilisers that don’t poison the environment using sustainably sourced seaweed and organic waste. 

Distributed by APO Group on behalf of GoGettaz Agripreneur Prize.

Related Topics:
Continue Reading
Advertisement

Business

$40B Africa Energy Fund Targets Universal Access – What it Means for Clean Cooking

Published

15 hours ago

on

April 11, 2025

By

Africa-Energy-Fund

With the launch of a $40 billion fund to expand energy access, African Energy Week 2025: Invest in African Energies will serve as a key platform to drive investment in clean cooking solutions and sustainable energy strategies across the continent

CAPE TOWN, South Africa, April 11, 2025/APO Group/ –A new $40 billion Africa Energy Fund, launched at the Mission 300 Africa Energy Summit in Dar es Salaam, aims to provide 300 million people with access to cleaner, more reliable energy by 2030. The initiative aligns with Africa’s broader push for sustainable energy solutions, including clean cooking technologies, which remain one of the most critical yet underfunded sectors in the energy transition. As African Energy Week (AEW): Invest in African Energies 2025 approaches, discussions on scaling investment in clean cooking solutions will be high on the agenda, particularly in light of the commitments made by African nations to advance energy access.

Access to clean cooking solutions remains one of Africa’s most pressing energy challenges. Over 900 million people on the continent still rely on traditional biomass, such as wood and charcoal, for cooking. The health, environmental and economic consequences are severe – household air pollution from these fuels contributes to over 600,000 premature deaths annually, while deforestation and carbon emissions continue to rise. While electrification projects are a major focus of Africa’s energy transition, clean cooking remains an urgent issue that requires targeted investment and policy support.

The Fund is a step in the right direction and demonstrates global commitment to accelerating energy access and supporting Africa’s transition to cleaner, more sustainable energy solutions. The World Bank has pledged $22 billion to support the initiative, while the African Development Bank has committed $18.2 billion. Additional contributions include $2.65 billion from the Islamic Development Bank and $1 billion from the OPEC Fund, highlighting strong financial backing from major international institutions.

Several African countries have demonstrated strong commitments to expanding clean cooking access through national policies, targeted financing mechanisms and public-private partnerships. Kenya, seeking universal access by 2028, is advancing LPG expansion, electric cooking and bioethanol alternatives with support from private sector investment and international partnerships. By subsidizing LPG and investing in infrastructure, the country has significantly increased adoption rates. Neighboring Tanzania is integrating clean cooking solutions into its national electrification plan and broader energy transition strategy, supported by a dedicated National Clean Cooking Strategy. Meanwhile, Ghana has adopted a multi-pronged approach, enhancing the affordability of LPG and promoting efficient biomass stoves. The country is also raising public awareness of the health benefits of clean cooking, while encouraging local manufacturing of stoves and fuel alternatives.

The newly-launched energy fund not only works to expand electricity access, but also to catalyze economic opportunities by powering industries, businesses and households. Reliable energy is a fundamental enabler of economic growth, and investments in clean cooking align with broader energy access goals by reducing health costs, increasing productivity and improving gender equality. AEW: Invest in African Energies 2025 – the leading energy event for deal-making, policy discussions and industry networking – provides a crucial platform for stakeholders to explore investment opportunities in clean cooking and broader energy access initiatives.

Discussions will focus on mobilizing financing for clean cooking projects, including public-private partnerships and carbon credit mechanisms; strategies for integrating clean cooking into national electrification plans; and best practices from leading African countries and how their policies can be replicated across the continent. Discussions will also focus on scaling up investment in clean energy infrastructure, including off-grid electrification and innovative financing mechanisms for clean cooking technologies.

With the launch of the Africa Energy Fund and growing momentum around clean cooking investments, Africa stands at a pivotal moment in its energy transition. Achieving universal energy access requires a multi-faceted approach that includes large-scale electrification projects, off-grid solutions and immediate interventions in clean cooking. AEW 2025 provides an opportunity for governments, businesses and investors to align their strategies and secure funding to drive impact. The commitment to connecting 300 million Africans to cleaner energy is ambitious, but with the right policies and investments, it is within reach – and clean cooking solutions must be a central part of the conversation.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Distributed by APO Group on behalf of African Energy Chamber

Continue Reading

Business

Afreximbank commissions first-of-its-kind African Trade Centre in Abuja, Nigeria – marking a new era for Intra-African trade

Published

17 hours ago

on

April 11, 2025

By

Afreximbank

With the opening of the Abuja AATC, Afreximbank continues its mission to promote intra-African trade and investment opportunities, laying the groundwork for a more prosperous and integrated African economy

ABUJA, Nigeria, April 11, 2025/APO Group/ –Multilateral Bank African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has officially commissioned its first Afreximbank African Trade Centre (AATC) today in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa.

During the grand commissioning ceremony, speakers, including Hon. Dr. George Akume, Secretary to the Government of Federation, Nigeria representing H. E. Bola Ahmed Tinubu GCFR, President and Commander-in-Chief of the Armed Forces, The Federal Republic of Nigeria, highlighted the AATC’s strategic importance, its pivotal role in shaping Africa’s economic future and the significant impact it is poised to make on Africa’s trade and investment landscape.

Speaking at the Ceremony, Dr. Akume stated, “Afreximbank African Trade Centre (AATC) is a landmark project that embodies our shared commitment to advancing Intra-African Trade, fostering economic integration and unlocking a vast potential of our continent. This occasion is a realisation of a bold vision for Africa’s economic future. AATC stands as a testament to the power of collaboration, resilience and forward-thinking leadership. It is more than a physical structure; it is the beginning of innovation, a hub for entrepreneurship and a catalyst for sustainable development.

He added, “This centre will serve as a critical platform for trade facilitation, capacity building and investment promotion – key pillars of Africa’s economic transformation. Afreximbank’s role in shaping Africa’s trade landscape cannot be overstated because the institution has consistently demonstrated its commitment to breaking down barriers, bridging financing gaps and empowering African businesses to be competitive. All these have been accomplished through flagship projects such as the AfCFTA adjustment fund that is managed by Afreximbank’s subsidiary, Fund for Export Development in Africa (FEDA), PAPSS and other Trade Finance Programmes. The AATC located in Abuja represents yet another milestone in this journey and this aligns perfectly with Nigeria’s strategic priorities under the Federal Government’s eight-point agenda, particularly in the areas of job creation, economic diversification, and regional integration. As we commission this remarkable edifice today, let us renew our resolve to be the stronger, more interconnected and prosperous Africa.”

Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, echoed this sentiment, remarking, “The Abuja AATC is the first of several AATCs being developed across Africa and the Caribbean. Some would be Afreximbank owned while others would be supported through a franchise-scheme. With these, we expect to create a sizeable network of AATCs that will act as the lighthouses to guide the interconnections and flow of trade and investments within continental Africa and between Africa and Caribbean regions. This AATC Abuja has been a 41-month journey, one built on hope and determination. Like the other AATCs, the Abuja AATC would serve a multi-purpose goal; it will serve as a platform for fostering deeper regional and continental integration and house Afreximbank’s permanent regional office, bringing a three-decade-old aspiration to fruition. This AATC will also offer a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, a conference and exhibition facility and a business hotel.”

Prof. Orama thanked the Federal Government of Nigeria for its support noting that the relationship between the Bank and Nigeria has been truly mutually beneficial and most cordial. “Over the last three decades, successive governments have accorded unflinching support to Afreximbank, responding most positively to capital calls, creating a congenial environment for its smooth operations while providing the Bank significant domestic policy support that helped to execute many of the development programmes in Nigeria.” He said.

This centre will serve as a critical platform for trade facilitation, capacity building and investment promotion – key pillars of Africa’s economic transformation

With the opening of the Abuja AATC, Afreximbank continues its mission to promote intra-African trade and investment opportunities, laying the groundwork for a more prosperous and integrated African economy.

Over 500 distinguished guests attended the commissioning ceremony, notably, Hon. William F. Duguid, J.P. Senior Minister, Prime Minister’s Office, Republic of Barbados, Hon. Sylvester Grisby, Minister of State for Presidential Affairs, Liberia, Hon. Adebayo Olawale Edun, Minister of Finance and Coordinating Minister of the Economy, Nigeria and his counterpart, Hon. Dr. Jumoke Oduwole MFR, Minister of Trade and Investment, Federal Ministry of Trade and Investment, Nigeria as well as Nigeria’s former Vice President Hon. Namadi Sambo. Hon. Bockaire Kalokoh, Deputy Minister of Finance of Sierra Leone and Hon. Sheilla Chikomo, Deputy Minister Foreign Affairs and International Trade, Zimbabwe represented their respective countries. The event was also well attended by business leaders led by billionaire entrepreneur Mr. Aliko Dangote, Founder and Chief Executive of the Dangote Group, Mr Tony Elumelu, Chairman of Transcorp Group, policymakers, pan-African CEOs, and entrepreneurs.

Their presence showcased a shared vision and determination to enhance trade across Africa, as they pledged to work together to leverage the AATC for the continent’s economic transformation.

The Abuja AATC comprises two interconnected nine-storey towers. One tower features world-class commercial A-grade office spaces, a trade and exhibition centre, a conference centre, a technology and SME incubator, a Digital Trade Gateway and a trade information services hub. The adjoining tower boasts a 148-room business hotel, seminar and meeting rooms, a wellness centre, a restaurant and other ancillary facilities. These features are designed to provide a comprehensive ecosystem for trade and business activities, catering to the diverse needs of African businesses. It will also host office spaces for local and international financial institutions and policy organisations, ensuring a complete support system for trade and business activities.

The AATC building is expected to achieve gold – and potentially platinum – Leadership in Energy and Environmental Design (LEED) certification by the United States Green Building Council (USGBC), a globally recognised standard for sustainable building design and construction. This certification will make the Abuja AATC one of the few certified buildings in Nigeria and West Africa, underscoring its commitment to environmental sustainability.

The global architect Messrs SVA International developed a multifaceted global design, drawing inspiration from the concept of a bazaar, which reflects the vibrant feature of daily life in many African cities. Construction of the USD120 million project commenced in November 2021 on a prime piece of land measuring 5,856 square meters and achieved completion in 41 months.

The Abuja Afreximbank African Trade Centre (Abuja AATC) is the first of seven planned AATCs across Africa, including Kampala, Uganda, Harare, Zimbabwe, Cairo, Egypt, Yaoundé, Cameroon, Tunis, Tunisia, and Kigali, Rwanda. In addition, Afreximbank recently broke ground in Bridgetown, Barbados, to construct the first AATC outside of Africa. Through franchising and licensing arrangements, the Bank intends to partner with relevant institutions and economic development organizations to establish non-Bank owned ATCs in the rest of Global Africa. These AATCs will serve to link buyers, sellers, suppliers, service providers, enterprises, governments, chambers of commerce, financial institutions, economic development organisations and the general African and global trade and investment community.

Distributed by APO Group on behalf of Afreximbank.

Continue Reading

Business

United Arab Emirates (UAE) Drives Strategic Push into Africa’s Oil & Gas Industry

Published

17 hours ago

on

April 11, 2025

By

Rovuma Basin

The UAE’s recent investments in Mozambique and Egypt highlight its expanding role in Africa’s energy sector, positioning it as the continent’s largest investor and a key partner in driving future growth

CAPE TOWN, South Africa, April 11, 2025/APO Group/ –The UAE’s investment footprint in Africa’s oil and gas sector has expanded with its recent entry into Mozambique’s Rovuma Basin. XRG, the international energy investment arm of Abu Dhabi National Oil Company, made headlines last month by entering Mozambique’s lucrative gas market, underscoring the UAE’s expanding influence in Africa’s energy sector. The move is a key part of the country’s strategy to strengthen its position as a major player in Africa’s energy landscape, highlighting its confidence in the region’s long-term growth potential.

XRG Expands into Mozambique, Egypt  

XRG’s acquisition of a 10% interest in the Area 4 concession in Mozambique’s offshore Rovuma Basin signifies more than just an expansion for the company – it reflects a broader geopolitical and economic vision that aligns with the UAE’s strategic interests. The basin is one of the world’s most significant natural gas reserves, with the potential to shape global LNG markets in the coming decades, driven by integrated gas developments with a production capacity exceeding 25 MTPA. The acquisition includes stakes in the operational Coral South FLNG and the planned Coral North FLNG and Rovuma LNG projects. XRG’s decision to invest in the region underscores its understanding of the growing demand for energy resources and the importance of securing diverse sources to ensure energy security.

In December 2024, XRG partnered with bp to establish a new regional gas platform and joint venture, Arcius Energy, focused on the development of gas assets in Egypt. The company aims to build a world-scale integrated gas and chemicals portfolio to meet rising global demand, leveraging Africa’s gas-rich hotspots to achieve this. Through these investments, the UAE is positioning itself as a leading partner in Africa’s energy future, which will likely continue to strengthen its economic and diplomatic ties with the continent.

UAE Becomes Africa’s Largest Investor

The UAE’s push into Africa’s oil and gas sector is part of a broader trend that has seen it emerge as Africa’s largest investor, surpassing even China. As reported by the Middle East Monitor, the UAE has overtaken China as the continent’s biggest source of foreign direct investment, with investments from Emirati companies totaling $110 billion between 2019 and 2023. This shift marks a significant milestone in the UAE’s strategy to diversify its investment portfolio and expand its influence across Africa, a continent rich in untapped potential and actively seeking foreign capital to drive its growth and development.

With investments spanning key sectors like infrastructure, energy and technology, the UAE has strategically positioned itself as an economic partner of choice for African nations. These investments include green hydrogen projects in Mauritania; Masdar’s $2-billion commitment to renewable energy in Africa through 2030; and the expansion of major players like Dubai’s DP World – which operates six African ports – and Abu Dhabi Ports, which has extended its presence into Guinea, Egypt and Angola. The UAE’s growing investment in Africa’s oil and gas industry aligns with the country’s broader goals of securing reliable energy supplies, diversifying its own energy portfolio and fostering long-term economic partnerships with African nations.

AEW 2025: A Platform for Gulf Investors

The UAE’s accelerated investments in Africa’s energy sector will take center stage at the upcoming African Energy Week (AEW): Invest in African Energies 2025 in Cape Town. The conference will provide a platform for Emirati and Gulf investors to engage with key stakeholders, discuss strategies for expanding in Africa and explore new opportunities within the continent’s rapidly evolving energy sector. With a focus on oil, gas and clean energy, AEW 2025 will be a critical gathering for investors like XRG to showcase their projects, forge partnerships and deepen their involvement in Africa’s energy development.

AEW 2025 will also serve as a venue for African energy leaders to discuss the vital role of private investment in unlocking the continent’s energy potential. As a leading investor, the UAE’s growing influence in Africa’s oil and gas sector will be highlighted at the event, reinforcing its position as a key partner in driving investment, innovation and collaboration.

Distributed by APO Group on behalf of African Energy Chamber

Continue Reading

Trending

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept