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Guinea: USD 14 million loan from the African Development Fund will support industrial development and resilience of Small and Medium-sized Enterprises (SMEs)

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African Development Fund

The goal is to speed up economic transformation through stimulation of SMEs, including women’s SMEs, industrial modernisation and exports, making the economy more competitive and promoting private investment

ABIDJAN, Ivory Coast, June 26, 2024/APO Group/ — 

The Board of Directors of the African Development Fund (https://apo-opa.co/3VAvcHY), the concessional window of the African Development Bank Group (www.AfDB.org), has approved a loan of US $14.04 million to Guinea for implementation in the country of the Industrial Development and SME Resilience Support Project.

The financing comes from Pillar 1 of the Transition Support Facility (https://apo-opa.co/4eIc1VA), an AfDB financing instrument for fragile and transition countries. It will enable Guinea to strengthen its institutional capacity to promote industrial development and resilience of small and medium-sized enterprises (SMEs).

The project focuses on improving the capacity of the West African country to plan, coordinate, monitor and promote industrial development. It will also enable a programme to be put in place to support the growth and resilience of small enterprises and industries and to strengthen the delivery of public services to private business.

The main challenge, which the project seeks to address, is the lack of institutional capacity to steer and implement industrial policy at macroeconomic and sectoral level. This also applies at the microeconomic level (the level of firms).

Support from the African Development Fund will enable Guinea to address the root causes of fragility and consolidate sources of long-term resilience

Ousmane Fall, Director of the Bank’s Industrial Development and Trade Department, stressed that Guinea has great potential for industrial development, but until now this has remained largely untapped.

“Support from the African Development Fund will enable Guinea to address the root causes of fragility and consolidate sources of long-term resilience through institutional development to achieve sustainable and inclusive industrialisation in Guinea, promoting private sector development and the consolidation of a peaceful and resilient society,” Fall said.

Support from the Fund will enable Guinea to acquire the capacity it needs to promote the development of new productive assets that can diversify the economy and create jobs. The support will also stimulate structural transformation and generate the productivity gains that are needed to improve the quality of life of the people of Guinea and to strengthen the country’s economic and social resilience.

The project has three components: strengthening of planning capacity and steering and implementing development policy; integrated support for resilience, growth of green industry and growth of SMEs-SMIs; project management and coordination.

The project will directly or indirectly benefit all participants of private-sector industry in Guinea. Women and young people (female and male) will benefit from increased opportunities thanks to strengthening the support ecosystem to the private sector, helping them to take advantage of the opportunities offered by a new industrial policy and the provisions of the law on local content.

Strengthening of institutional capacity for industrial policies should have long-term effects for development in Guinea. The goal is to speed up economic transformation through stimulation of SMEs, including women’s SMEs, industrial modernisation and exports, making the economy more competitive and promoting private investment. Improvement of human resources will also be a priority, with special focus on young people and on the reduction of gender inequalities and other disparities.

The project reinforces AfDB Group’s ongoing work in Guinea aimed at developing agro-industry and specialised agro-industrial processing zones, developing the private sector by bringing businesses out of the shadow sector, and promoting entrepreneurship among young people and women.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Emerson Partners with MSTelcom to Provide Advanced Industrial Automation in Angola

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Agreement allows MSTelcom to support regional customers in Angola with advanced automation software and technologies to drive high performance industrial operations

LUANDA, Angola, July 1, 2024/APO Group/ — 

MSTelcom, a subsidiary of the Sonangol Group, has chosen Emerson (www.Emerson.com) to provide the company’s full automation portfolio for energy and industrial customers in Angola, further advancing the country’s objectives of leadership in hydrocarbon production. Emerson, a global leader in automation technology and industrial software, announced their collaboration aimed at expanding MSTelcom’s ability to provide engineering services to energy and industrial customers.

The alliance enables MSTelcom to provide the latest automation technologies to help the firm’s clients improve energy production, equipment availability, production optimization, safety and environmental sustainability.

Our work together will bridge MSTelcom’s information technology expertise with Emerson’s advanced automation portfolio

Automation is increasingly seen as a key enabler for leaders like Sonangal to maximize production performance like oil and gas recovery, while also advancing their commitments for emissions reductions. Emerson’s portfolio is expected to provide advanced automation to MSTelcom, supporting their leadership in engineering and communications services and vision of continuous innovation and sustainability.

“This partnership with Emerson is a significant milestone that will allow MSTelcom to incorporate cutting-edge automation solutions as well as improve our operational efficiency by providing our customers with industry-leading automation software and technologies.” said Felisberta de Jesus, president of the executive board of MSTelcom.

“Our work together will bridge MSTelcom’s information technology expertise with Emerson’s advanced automation portfolio,” said Mathias Schinzel, president of Emerson in Middle East & Africa. “Together, our aim is to help modernize the Angolan energy and industrial infrastructure with the latest innovations for sustainable and reliable performance, helping reinforce Angola’s global leadership in energy production through digital transformation.”

Distributed by APO Group on behalf of Emerson

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A bigger and better government offering, strongly positioned, and elevated at Mining Indaba 2025 (MI25), designed with attendees in mind

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Mining Indaba is investing significantly in ensuring the presence of a larger mining government contingency in 2025

CAPE TOWN, South Africa, July 1, 2024/APO Group/ — 

As the African mining industry continues to grow, the role government must fulfil in ensuring sustainable investment and development is becoming increasingly important. In acknowledgement of this, Mining Indaba (www.MiningIndaba.com) is investing significantly in ensuring the presence of a larger mining government contingency in 2025.

Enhanced government proposition

In support of this objective, ensuring the voice of government mining and supporting ministries will be heard across the event – not only in the government-dedicated Intergovernmental Summit, but across all key programmes including Disruptive Discussions, Sustainability Series and Technology and Innovation.

“Our government activity will also take place in a new home for 2025 – the CTICC 2 building – which will provide a larger space for ministers to engage collaboratively, greater attendance opportunities at the Ministerial Symposium and more effective engagement and time in our Intergovernmental Summit, new country investment forums, and traditional country showcases. As the government hub – we will offer ministers a single point of contact from which they can navigate the full Mining Indaba event comfortably and frequently,” says Zeinab El-Sayed, Head of Government Partnerships.

Future-proofing government focus

The 2025 theme, “Future-proofing African Mining, Today!” is anchored on six key content pillars, emphasising equality for all, to guide Mining Indaba’s future objectives. Future-proofing from a government perspective involves implementing policies and regulations that ensure sustainable development, environmental protection, and social responsibility in the mining industry. It also involves fostering innovation and technology adoption to enhance efficiency and competitiveness in the sector.

“Cross-border cooperation is essential for governments to address the challenges facing their countries in an increasingly interconnected world. In order to future-proof their economies, governments ought to collaborate with each other and engage with the private sector to implement effective and sustainable policies. The success of these partnerships will be crucial in ensuring that the continent remains competitive and resilient in the face of evolving global challenges,” continues El-Sayed.

As the government hub – we will offer ministers a single point of contact from which they can navigate the full Mining Indaba event comfortably and frequently

“A future-proof mining ministry is one that looks at how to encourage investment with the ultimate objective of creating sustainable and economic wealth for every African country. This requires collaboration – between governments, as well as industry, to ensure an aligned approach that responds to challenges around regulatory environments, infrastructure needs and community support. Mining Indaba will remain the platform to provide solutions and facilitate conversations that lead to positive outcomes in this regard,” highlights Laura Cornish, Head of Content & Strategic Partnerships.

What can attendees expect in 2025?

NEW FOR 2025

  • Country Investment Forums

Closed door discussion that will bring together ministries, community representatives, mining companies, investors, and chambers of mines to discuss ideas and address concerns, aiming to enhance each country’s investment profile with actionable outcomes.

  • Investment guides

These guides will provide detailed information on investment opportunities, regulatory frameworks, and potential risks for interested parties. Additionally, attendees can look forward to interactive workshops and networking opportunities to foster collaboration and knowledge-sharing among stakeholders.

IMPROVED FOR 2025

  • Ministerial Symposium

Attendees can expect engaging discussions on innovative solutions for sustainable development, networking opportunities with industry leaders, and the chance to contribute to shaping the future of African value chains. The symposium will provide a platform for sharing best practices, fostering partnerships, and driving actionable outcomes to advance socio-economic growth in the region.

Distributed by APO Group on behalf of Investing in African Mining Indaba.

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From Sustainability to Personalisation – Mid-year Retail Trends 2024

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This year, consumers are carefully prioritising resources – with many people worldwide now looking for more deals and discounts to carefully balance their household budgets

JOHANNESBURG, South Africa, July 1, 2024/APO Group/ — 

Reaching any midpoint, whether it’s to catch one’s breath on a ultra-marathon to gear up for the next stretch, or a project team reflecting on their progress and making necessary modifications – it’s all about positioning for success. So too a mid-year retail check-in offers valuable insights into some of the latest developments shaping how retailers connect with consumers and drive innovation in the second half of this year.

Overview | Global & Local

The rise and rise of ecommerce, the integration of online and offline, platforming sustainability, contactless and convenient quick and easy payment options, price-sensitive pricing strategies and building customer loyalty – dominated the past six months.

So too, and no surprises here, but the broader classification of the consumer is changing yet again. If 2023 was the year of the resilient consumer, it seems that 2024 is seeing the year of the empowered consumer. Mastercard Data & Services [May 2024] reported that despite rising interest rates, inflation and the threat of a recession, consumers still confidently spent in 2023. This year however, consumers are carefully prioritising resources – with many people worldwide now looking for more deals and discounts to carefully balance their household budgets. Technology is also playing a bigger role in bringing innovation and efficiency to retailers and consumers, reflecting a more concerted shift towards a customer-centric and digitally driven retail landscape.

“Don’t blink was my pennies worth at our trends check in November 2023,” said Mike Smollan, Chief Growth Officer, Smollan. “We’ve seen the rapid changes this year, from powerful tactical retail that has global brands amping up the flavour and integration experience for consumers. To local shifts in South Africa for example, with 61% of Gen Zs finding their feet and telling us via a recent Trade Intelligence report, that social media influencers are their best source of information when it comes to shopping. It’s about meeting consumers wherever, whenever, and however they prefer to shop, and being cognisant of and embracing the shift to empowered consumerism.”

Global retail examples always provide a relevant yardstick to illustrate these shifting dynamics on a larger scale. Take Walmart for example who despite relatively little store growth, has maintained its number one ranking with a robust online marketplace and a range of new financial resources for shoppers. Costco expanded its warehouse format this year to a range of countries while Ikea is reinventing, by opening smaller-format stores around the world.

So too, the ecommerce world continues to baffle the brain – with relative newbie Temu topping US$5 billion in sales in 2023, just one year after they launched. With Statista reporting that their app has been downloaded over 52 million times as of May this year.

A wild ride and evolving storyline as we watch the disruption of this sector.

Closer to home, Shoprite South Africa (SA) have adapted in 2024 to serve customers who want more promotions, combo deals and collective buying. They also noted that their customers are switching to private labels. Furthermore, they have expanded their premium stores and on-demand delivery services, as well as venturing into mobile services and financial offerings. On the ecommerce front Tech Safari, reporting on Amazon’s entry into SA in May this year, have suggested a possible pricing war benefitting consumers with faster deliveries, more products and better support. This space in the spotlight from now until year end and beyond, with competition on the up as Takealot, in response to Amazon’s entry, launched a free delivery service with a monthly subscription.

We’ve seen the rapid changes this year, from powerful tactical retail that has global brands amping up the flavour and integration experience for consumers

At A Glance | Four Trends

Accelerated ways to enable retailers to anticipate, experiment, adapt and satisfy consumers, even before they are aware of them, will be the golden thread. With Forbes identifying four evolving trends for the second half of the year:

Sustainability

Customers want organisations to step up and show proof of their eco stance however they have “green fatigue” and are quickly on the scent of businesses that are simply ‘greenwashing’.

AI

This is constantly evolving and retailers need to use AI to improve efficiencies and processes, and balance this with a human touch.

Personalised Communication

Consumers want messages tailored to them and their purchasing behaviour and not to be bombarded with general marketing messages. Shifting tactics from purely transactional to empathetic.

Social Commerce

CRM Essentials showed that 37% of consumers trust influencers more than brands. This year social commerce and creator economies present a perfect symbiotic relationship as brands are now more focused on telling stories on social platforms that conclude with a commerce moment.

Distributed by APO Group on behalf of Smollan.

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