Connect with us

Business

One Africa, One Voice: Digital Inclusion Holds the Power to Accelerate Africa’s Economic Growth

Published

2 years ago

on

The event will gather major players across sectors to explore innovation, technology, and collaboration opportunities to find solutions for the digital inclusion challenges that Africa face

JOHANNESBURG, South Africa, September 27, 2022/APO Group/ — 

Says Tiekie Barnard, Shared Value Africa Initiative (SVAI) CEO and Founder:

  • “We are co-creating the global future on the African continent and this gathering in Kigali in October is possibly one of the most important conventions of leadership and executives since the launch of the UN Sustainable Development Goals in 2015.”
  • “The connection between social progress and business success is increasingly clear, and companies must team up with governments, NGOs and yes, even competitors, to fully capture the economic benefits of creating shared value as a collective.”
  • “When Africa wins, the world wins, and now more than ever, it has become imperative to develop meaningful and effective partnerships for development between the public and private sectors.  This Summit creates a unique opportunity and platform where leadership, as a collective, can discuss and provide input and solutions on how we can accelerate Africa’s growth through affordable, and accessible connectivity for all.”
  • “We have not yet cracked the code on mobilising the full power of business to drive social impact and profit on the African continent. While there is no silver bullet, the power of Shared Value is evident and there is a vast realm where Shared Value can be applied to drive a new wave of productivity and innovation on the continent that we call home. The time for change is now.”

Shared Value Africa Initiative (SVAI) and Shift Impact Africa have partnered with the GSM Association (GSMA), a global institution that represents the telco and digital service sectors, to bring together the sixth annual Africa Shared Value Leadership Summit and the Mobile World Congress Africa (MWCA).

Both events will take place alongside each other at the Kigali Convention Centre in Kigali, Rwanda, between 25 and 26 October 2022. His Excellency Paul Kagame, the President of the Republic of Rwanda, who will be joined by several other heads of state, will deliver the opening keynote.

Other speakers include, Sanda Ojiambo, Assistant Secretary-General of the United Nations Global Compact (UNGC); Mark Kramer, Senior Lecturer, Harvard Business School and Co-Founder of the Shared Value Initiative; Dr. Edem Adzogenu, Co-Chair of the AfroChampions Initiative; Jeremy Awori, CEO of Absa Kenya; Maria Cristina Papetti, Head of Global Sustainability, Infrastructure and Networks at Enel Group; and Lacina Koné, Director-General and CEO of Smart Africa.  

This partnership with GSMA heralds a first for Africa and the global Shared Value community. The event will gather major players across sectors to explore innovation, technology, and collaboration opportunities to find solutions for the digital inclusion challenges that Africa face.

Both in-person events will feature programmes that will examine where the future of connectivity on the African continent is heading. “We are co-creating the global future on the African continent and this gathering in Kigali in October is possibly one of the most important conventions of leadership and executives since the launch of the UN Sustainable Development Goals in 2015,” says Tiekie Barnard, SVAI CEO and Founder. “The connection between social progress and business success is increasingly clear, and companies must team up with governments, NGOs and yes, even competitors, to fully capture the economic benefits of creating shared value as a collective.”

We are co-creating the global future on the African continent and this gathering in Kigali in October is possibly one of the most important conventions of leadership and executives

The Africa Shared Value Leadership Summit’s unifying theme ‘One Africa, One Voice’ underscores this need for organisations to work together across borders and industries to benefit all Africans in a sustainable way. Business and other leaders will delve into questions such as the role of technology to address climate risks in a just way; how business can accelerate digital inclusion in Africa, particularly for disproportionately affected groups such as rural populations and women; how we ensure that digital connectivity and shared value become the drivers of Africa’s growth, as well as the role of shared value thinking and digital innovation to boost intra-Africa Trade.

“The African Union’s 2020-2030 Digital Transformation Strategy aspires to universal digital access and a single pan-African digital market by 2030. Achieving this would create a profound impact on the continent. For instance, the World Bank estimates that a 10% increase in mobile internet penetration could translate to a 2.5% increase in gross domestic product (GDP) on the African continent,” says Barnard.

“When Africa wins, the world wins, and now more than ever, it has become imperative to develop meaningful and effective partnerships for development between the public and private sectors.  This Summit creates a unique opportunity and platform where leadership, as a collective, can discuss and provide input and solutions on how we can accelerate Africa’s growth through affordable, and accessible connectivity for all.”

Technology holds the power to evermore change Africa’s future and address many of the continent’s systemic challenges. Yet the digital divide across Africa remains stark. Fewer than one-third of Africans have access to broadband connectivity. Of the 25 least-connected countries in the world, 21 are located in Africa. Three hundred million Africans live more than 50 kilometres from a fibre or cable broadband connection. At just 36%, Africa’s internet penetration compares poorly with the 62.5% global average, according to Statista’s latest global internet penetration rate.

“While digital innovation creates exciting new opportunities, it can exclude those who lack access to the digital economy. Creating a healthy and inclusive digital economy will require new thinking to generate safeguards against the many risks inherent in the application of technology, while channelling resources to areas of innovation that generate the greatest social impact on the continent,” says Barnard.

The Summit will host experts from across the industry for two days of networking, learning and collaboration. Sponsors include Abbott, Absa Bank Kenya, Old Mutual, Visa and the United Nations Global Compact (UNGC).   

“The support of our sponsors – purpose-led companies that are committed to driving sustainability on the continent – has allowed us to plan an event that will be entirely different from years past. We would like to invite interested parties to register and join us in Kigali to connect, interact, and explore solutions to bridge the digital divide and fuel Africa’s growth,” says Barnard.

All registered delegates will have full access to both events for the duration of the Summit. There is also an option to attend the Summit virtually, via livestream, which includes access to the combined keynote addresses by some of the continent’s business luminaries.

“We have not yet cracked the code on mobilising the full power of business to drive social impact and profit on the African continent. While there is no silver bullet, the power of Shared Value is evident and there is a vast realm where Shared Value can be applied to drive a new wave of productivity and innovation on the continent that we call home. The time for change is now,” Barnard concludes.

Registrations have already opened, and there is no cost to attend.

Visit the Summit website, www.AfricaSharedValueSummit.com, to learn more and secure your place.

Distributed by APO Group on behalf of Africa Shared Value Leadership Summit.

Related Topics:
Continue Reading
Advertisement

Business

African Energy Week (AEW) 2024 to Navigate the Future of Oil & Gas Financing Amid Energy Transition

Published

16 hours ago

on

September 9, 2024

By

The African Energy Week: Invest in African Energy conference will gather industry leaders to explore oil and gas financing tools and strategies in the age of the energy transition

CAPE TOWN, South Africa, September 9, 2024/APO Group/ — 

As the global energy landscape shifts towards cleaner and more sustainable sources, Africa’s oil and gas sector faces challenges in securing financing for upstream projects. Nearly $3 billion was mobilized toward African energy projects in 2023 – with a significant portion directed towards natural gas – according to the African Development Bank (AfDB). As global markets evolve, African financing strategies must adapt to support both economic growth and long-term sustainability.

The Financing Upstream Oil & Gas in the Age of Transition session at African Energy Week (AEW): Invest in African Energy will explore how African oil and gas projects are securing financing in a rapidly changing landscape. The session will unpack evolving regulatory frameworks, innovative financing models and the balance between traditional fossil fuel and renewable energy investments. Moderated by Laura Sima, Director of S&P Global Commodity Insights, the panel will feature Trafigura Group Head of Upstream Finance Matthieu Milandri; Africa Finance Corporation Vice President Taiwo Okwor; and Project & Export Finance Africa Managing Director & Regional Head Fathima Hussain.

AEW: Invest in African Energy 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.

To address shifting investment priorities, a dedicated Africa Energy Bank (AEB) has been launched by the African Petroleum Producers Organization and African Export-Import Bank. To be based in Abuja, the AEB aims to bridge Africa’s infrastructure funding gap and accelerate the development of energy projects across the continent. As a supranational institution, the AEB will provide critical funds for emerging oil and gas projects across Africa, supporting the sector amid the global energy transition, and is currently open for signature by prospective member states.

African natural gas projects have been a leading destination for foreign investment, as gas is considered a cleaner alternative and even labeled as “green energy” in the EU. Projects like Senegal and Mauritania’s Greater Tortue Ahmeyim LNG – led by bp and Kosmos Energy – have secured $4.8 billion in investment from a mix of equity from the IOCs and debt financing supported by multilateral banks. Blended finance – combining both public and private sector capital – has emerged as a critical solution to mobilizing large-scale financing in Africa’s energy sector. The TotalEnergies-led Mozambique LNG project represents a total post-FID investment of $20 billion, of which $14.9 billion comes from senior debt financing including a blend of loans from export credit agencies, multilateral finance agencies like the International Finance Corporation and the AfDB, and commercial banks.

Significant capital is also flowing to high-potential hydrocarbon basins with strong exploration prospects. In Namibia, multinationals TotalEnergies and Shell are continuing to explore the deepwater Orange Basin, with TotalEnergies allocating 30% of its one-billion-dollar exploration budget to the country in 2024 alone. Namibia’s government has been active in courting global financiers, emphasizing the need for sustainable energy development alongside oil and gas exploration and production. In Angola, TotalEnergies, Petronas and state-owned Sonangol secured a $6-billion FID for the Kaminho deepwater project in Block 20 that will develop the Cameia and Golfinho ultra-deepwater fields. The project will employ an all-electric FPSO unit, designed to minimize greenhouse gas emissions and eliminate routine flaring. Independent upstream company Invictus Energy also recently secured $10 million from local institutional investors for its Cabora Bassa project in Zimbabwe to develop the country’s first major oil and gas field.

The upcoming finance session will also position public-private partnerships as a mechanism for financing large-scale energy infrastructure projects, as well as de-risking investments. The Republic of Congo has advanced the development of its Banga Kayo block through an amended PSC with China’s Wing Wah Oil Company, enabling the commercialization of the block’s gas resources. In Nigeria, the $2.6-billion Ajaokuta–Kaduna–Kano gas pipeline is being financed through both public and private funds, with the Nigerian National Petroleum Company as the main financier and international lenders including the Industrial and Commercial Bank of China and Bank of China involved. Nigeria’s Federal Government has provided a sovereign guarantee covering 85% of the project’s costs, securing crucial financing and building investor confidence.

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Business

The Islamic Development Bank Institute (IsDBI) Completes Pilot Implementation of Islamic Finance Strategic Mapping Framework in Kazakhstan

Published

22 hours ago

on

September 9, 2024

By

This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector

ASTANA, Kazakhstan, September 8, 2024/APO Group/ — 

The Islamic Development Bank Institute (IsDBI) (https://ISDBInstitute.org/) is pleased to announce the successful completion of its flagship Islamic Finance Strategic Mapping Framework (IF-MAP, formerly IF-CAF) (https://apo-opa.co/4cXPwti) pilot exercise in the Republic of Kazakhstan. This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector.

The pilot initiative of IF-MAP was launched (https://apo-opa.co/3MyooGO) in June 2023, and involved extensive consultations with key stakeholders, including government agencies, financial institutions, and industry experts. The resulting tailored policy recommendations report, which outlines the sector’s progress and provides recommendations for future development, has been submitted to the AIFC.

AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors

As one of the key outcomes of the exercise, IsDBI and AIFC jointly developed the Kazakhstan Islamic Finance Country Report 2024 (https://apo-opa.co/3B4GwFv) which H.E. the Governor of AIFC, H.E. Mr. Renat Bekturov, launched on 6 September during the Astana Finance Days. The report highlights the immense potential of Islamic finance in supporting Kazakhstan’s economic growth and development.

In his welcome address, H.E. Mr. Renat Bekturov noted: “This report not only provides a comprehensive overview of the Islamic finance industry but also highlights our shared vision for the future.  AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors. The report is an invaluable guide for investors, policymakers, and stakeholders.”

Commenting on the successful completion of the pilot exercise, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, stated, “We are delighted to have collaborated with the AIFC on this important initiative. The Kazakhstan Islamic Finance Country Report offers a valuable analysis of the sector’s current state and future prospects. We believe that the report, together with the IF-MAP policy recommendations submitted to the AIFC, will be instrumental in guiding policymakers, investors, and financial institutions as they work to harness the full potential of Islamic finance in Kazakhstan.”

The IsDB Institute remains committed to supporting the growth and development of the Islamic finance industry worldwide. Through its research, training, and capacity-building programs, the Institute seeks to contribute to the creation of a more inclusive and sustainable financial system.

The Kazakhstan Islamic Finance Country Report 2024 is accessible on IsDBI website here: https://apo-opa.co/4ge7jQ1

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Continue Reading

Business

ST Telemedia Global Data Centres Reinforces Commitment to Digital India, Invests US$3.2 billion to add 550MW Data Centre Capacity

Published

22 hours ago

on

September 9, 2024

By

SINGAPORE – Media OutReach Newswire – 6 September 2024 – ST Telemedia Global Data Centres (STT GDC), one of the world’s fastest-growing data centre colocation services provider headquartered in Singapore, today announced a significant investment of US$3.2 billion (INR 26,000 crores) to expand its data centre capacity in India by a substantial 550MW, nearly tripling the company’s IT load capacity to meet the demands of India’s thriving digital economy, over the next 5-6 years.

This strategic investment reflects STT GDC’s confidence in India and the growth of its digital economy, as well as aligning with the burgeoning demand for digital infrastructure, driven by the surge in data consumption, cloud computing, digital transformation, and growing adoption of AI applications. This investment also further solidifies our market leadership in India, where we already command about 28% of market share by revenue.

STT GDC India is majority-owned by STT GDC in partnership with Tata Communications Ltd, which holds a minority stake in the company. STT GDC India’s portfolio consists of 28 data centres across 10 cities throughout India. Today, its data centre portfolio has a total combined capacity of over 318MW of IT load, with a well-diversified portfolio of about 1,000 enterprise customers that include many Fortune 500 companies. More recently, STT GDC India was recognised as a Great Place to Work for the fifth consecutive year, as well as one of the Best Places to Work in Asia.

“As we celebrate STT GDC’s 10th anniversary this year, embarking on this ambitious expansion is a sign of our confidence in Digital India and the future of one of STT GDC’s strategic and fastest growing markets globally. Prime Minister Modi’s vision for Digital India has paved the way for opportunity; today the India digital economy’s growth rate of almost three times overall GDP growth is putting the country on pace to achieve a US$1 trillion digital economy by 2027-20281. At STT GDC, we want to play an active role in co-investing and contributing to India’s long-term success by investing in the foundational digital infrastructure that will help further accelerate Digital India. We are excited about the opportunities ahead and are confident in our ability to contribute significantly to India’s digital transformation,” said Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres.

STT GDC, along with several other Singapore business leaders, participated in a Business Roundtable with Prime Minister Narendra Modi hosted by the Singapore Business Federation on 5 September 2024.

—–
1India digital economy: India to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar – The Economic Times (indiatimes.com)

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/.

Continue Reading

Trending

Exit mobile version