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‘‘Unstoppable Africa” Concludes with Key Announcements and Commitments to Drive Growth in Africa

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Global Africa Business Initiative

Key topics included unlocking inclusive trade growth, Africa’s role in clean energy, digital advancements, and the global impact of African creativity and sports

NEW YORK, United States of America, September 27, 2024/APO Group/ — 

The Global Africa Business Initiative (GABI) (www.GABI.UNGlobalCompact.org) flagship event wrapped up on September 26, 2024, in New York, successfully concluding a two-day summit held alongside the UN General Assembly. Themed “Unstoppable Africa: Shaping Global Ambitions for Agenda 2063”, the event attracted over 2,000 leaders, CEOs, investors, policymakers, and innovators, all focused on positioning Africa as a global leader. 

The summit emphasized inclusive participation and solution-driven solutions, culminating in a final roundtable where stakeholders committed to tackling pressing challenges. Key topics included unlocking inclusive trade growth, Africa’s role in clean energy, digital advancements, and the global impact of African creativity and sports. 

Powerful Closing Remarks 
UN Assistant Secretary-General Sanda Ojiambo commended the Africa Business Leaders Coalition for its leadership, noting a nearly 25% reduction in carbon footprints among participating businesses since launching a climate statement at COP27. Deputy Secretary-General Amina J. Mohammed stressed the critical role of Africa’s private sector in driving impactful change, emphasizing that with the right investments and partnerships, Africa is poised for transformative growth. 

Introducing Itana: A Digital Future for Africa 
A major highlight was the launch of Itana, Africa’s first Digital Free Zone. This initiative enables global technology, finance, and service businesses to operate seamlessly in Nigeria and scale across Africa, entirely online. Itana offers attractive incentives, including tax breaks, streamlined immigration processes, and tailored banking solutions, along with a live-in accelerator program and live-work districts that showcase the future of African urban development. 

Insightful Panels and Discussions 
Day Two started with a panel on closing Africa’s climate finance gap, which revealed that the continent receives less than 5% of global climate funding despite its renewable energy potential. Another panel explored the rising significance of Africa’s cultural and creative industries, highlighting their role in economic growth and reshaping narratives. 

The discussion on the digital economy included insights from leaders like Rwanda’s ICT Minister, Paula Ingabire, and Safaricom’s CEO, Peter Ndegwa, who emphasized the necessity for strategic financing and inclusive policies. 

Additionally, a session on the African fashion sector showcased the industry’s growth potential, with a focus on female designers dedicated to establishing a competitive presence in the global market. 

NBA Africa Startup Accelerator Award 
Clare Akamanzi, CEO of NBA Africa, presented the NBA Africa Startup Accelerator award to Festival Coins, a Nigerian tech company known for its Tix Africa platform, which simplifies event registration and ticketing in Nigeria and Ghana. This initiative aims to support Africa’s tech ecosystem by providing mentorship and funding to emerging entrepreneurs. 

‘Unstoppable Africa’ is a testament to the resilience, ambition, and growth that we see across the region

New Partnerships and Future Directions 
The event also served as a platform for announcing significant partnerships aimed at shaping Africa’s future: 

  • Mine Tech Hub Contribution: H.E. President Hakainde Hichilema of Zambia announced a significant contribution to the Mine Tech Hub, which aims to promote technological innovation in the mining sector, ensuring sustainable and inclusive growth.  
  • Timbuktoo Initiative: H.E. Philemon Yang, President of the UN General Assembly, expressed his strong support for the Timbuktoo Initiative, a global effort led by UNDP Africa focused on youth empowerment, digitalization, and sustainable development.  
  • Infrastructure Collaboration: Turkish construction company SUMMA and TAV Airports announced a collaboration to enhance infrastructure development and investment opportunities in Africa, Selim Bora, Chairman of SUMMA, said: ‘‘We believe in the transformative power of infrastructure to shape the future of Africa. For over a decade, we have proudly partnered with nations across the continent creating opportunities for economic growth, job creation, and improved quality of life. ‘Unstoppable Africa’ is a testament to the resilience, ambition, and growth that we see across the region.”  

Key initiatives for 2025 include: 

  • Food Systems: GABI signed a $250,000 partnership with PepsiCo to mobilize the private sector in Africa to transform food systems. The partnership will coincide with key milestones, including a GABI Bridge at the UN Global Compact Annual Local Network Forum in South Africa in 2025 and the Food Systems Summit.  
  • Education: A planned partnership with the Global Partnership for Education (GPE) will focus on transforming Africa’s education systems. This collaboration will build on the outcomes of the 2022 Transforming Education Summit and begin with a side event hosted by GPE during Convene in 2025.  

The 2024 GABI event concluded with optimism and a shared commitment to harness Africa’s potential for global leadership. With concrete plans and partnerships now established, the initiative is poised to continue its momentum toward a future where Africa leads on the global stage. 

View photos from Day 2 here (https://apo-opa.co/3BuaanQ) and event B-roll (https://apo-opa.co/4eloo9f) here. For more information about Unstoppable Africa event, please visit the Website (https://apo-opa.co/3Bm8Gfu)

Distributed by APO Group on behalf of Global Africa Business Initiative.

Business

Africa’s Grid Constraints Come into Focus as Regional Markets Push Toward Integration

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Africa

Regional power pools are advancing and renewable pipelines are growing, but the regulatory and financial architecture needed to connect them remains the continent’s most critical infrastructure gap – an issue central to the Power Africa Today conference at AEW 2026

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –Africa’s electricity demand is projected to nearly double to 2,291 TWh by 2050, requiring an estimated $30 billion in transmission and grid infrastructure investment to unlock and integrate new generation capacity. Yet across the continent, grid systems are struggling to keep pace with rapidly expanding supply pipelines and rising demand.

In Nigeria, repeated nationwide grid collapses as recently as February 2026 underscore the fragility of aging transmission infrastructure. In East Africa, tower failures along the 428 km Loiyangalani-Suswa line temporarily stranded output from Lake Turkana Wind Power – Africa’s largest wind installation. Meanwhile, demand growth pressures are accelerating across North Africa, where electricity consumption is expected to rise by around 50% by 2035, driven by urbanization, desalination projects, and climate-related temperature increases.

Despite these constraints, generation investment continues to accelerate across Africa, particularly in renewables, gas-to-power and hybrid systems. However, without equivalent investment in transmission and interconnection, much of this new capacity risks being underutilized or stranded. This growing imbalance between generation and grid capacity is driving a sharper focus on system-wide planning and regional market design – issues that will be central to the newly launched Power Africa Today conference at African Energy Week 2026. The platform will bring together policymakers, utilities, investors and developers to explore how regional interconnection, cross-border trading frameworks and financing structures can better align generation growth with grid expansion.

Power Markets Experiment with Reform

Alongside infrastructure challenges, Africa’s electricity sector is undergoing gradual – but uneven – market reform. Most countries still operate vertically integrated systems dominated by state utilities, but a growing number are introducing competitive frameworks to attract private capital and improve efficiency.

Zimbabwe opened its electricity market to full private participation across generation, transmission and distribution in 2025, targeting $9 billion in new investment. South Africa is advancing one of the continent’s most ambitious grid expansion programs, with plans for 14,500 km of new transmission lines and 133,000 MVA of transformer capacity by 2034, alongside mechanisms designed to crowd in private financing. Kenya, meanwhile, has introduced open access regulations enabling independent power producers to wheel electricity directly to multiple off-takers, reshaping how generation assets interface with the grid.

Interconnected electricity markets are the foundation of Africa’s industrial future

Regional Integration Remains Fragmented

Efforts to connect Africa’s fragmented power systems are progressing, though at different speeds across regions. In Southern Africa, the World Bank’s RETRADE SAPP program, approved in 2025, is deploying $12 million to strengthen renewable integration and transmission capacity across 12 member states. In East Africa, the Ethiopia–Kenya–Tanzania Electricity Highway is now in trial operations at up to 2,000 MW, marking a significant step toward a more interconnected regional grid.

West Africa is also moving toward deeper integration, with permanent synchronization of the West Africa Power Pool expected in 2026. Analysts, including the African Finance Corporation, argue that such synchronization is critical to unlocking large-scale hydropower potential and industrial demand across the region. Longer term, full synchronization between the Eastern and Southern African power pools – targeted for the end of 2026 – could create one of the world’s largest cross-border electricity trading corridors.

Building Bankable Financial Architectures

While interconnection is advancing, infrastructure alone is not enough to create investable electricity markets. Investors consistently cite the lack of standardized offtake structures, creditworthy counterparties, and cross-border payment guarantees as key barriers to scaling capital deployment.

New models are emerging to address these constraints. Africa GreenCo, operating across Zambia, Namibia and South Africa, is helping to aggregate independent power producers under a single creditworthy intermediary, standardizing power purchase agreements and reducing counterparty risk. At a broader level, AUDA-NEPAD estimates that Africa requires around $30 billion in additional investment to complete priority transmission corridors and establish three fully interconnected regional trading blocs by 2030.

“Interconnected electricity markets are the foundation of Africa’s industrial future,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “The question at Africa Energy Week is not whether integration is possible – the evidence is already there. The question is which regulatory frameworks and financial structures will get projects to financial close, and which markets will be ready when capital is looking to move.”

The Power Africa Today conference will run alongside AEW 2026, taking place October 12–16 in Cape Town, and will focus on the regulatory, financial and infrastructural architecture needed to build interconnected electricity markets capable of attracting institutional capital and delivering reliable, cross-border power at scale.

Distributed by APO Group on behalf of African Energy Chamber.

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African Development Bank Group and La Francophonie Sign Partnership Agreement to Promote Youth Employment in Francophone Africa

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The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France

PARIS, France, June 25, 2026/APO Group/ –The African Development Bank Group (www.AfDB.org) and The International Organization of La Francophonie (OIF) on Wednesday entered a strategic partnership to strengthen digital skills, employability, and entrepreneurship of young people and women in five African countries: Benin, Cameroon, Guinea, the Democratic Republic of the Congo and Madagascar.

 

The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France. The agreement will address a major challenge faced by countries in the Francophone world and across Africa: providing young people with access to opportunities offered by the digital economy and fostering the emergence of a new generation of entrepreneurs.

The partnership calls for the implementation of training programs in digital professions and entrepreneurship, in fields such as web and mobile development, cybersecurity, artificial intelligence, and data analysis. Participants will also receive guidance toward employment and self-employment, as well as support for innovation and business creation, notably through training camps, prototyping activities, and partnerships with incubators and accelerators.

The African Development Bank Group and OIF will also work with national authorities in these five countries and training institutions to sustainably strengthen local capacities and promote ownership of the programs by national stakeholders. An initial pilot phase, lasting 12 to 24 months, will be rolled out in the five partner countries, followed by a gradual expansion to other member states depending on the results achieved.

The African Development Bank Group is pursuing a bold agenda based on “Four Cardinal Points” developed by Dr Ould Tah, the third of which is ‘Turning Demographics into a Dividend.’ This is about strategically converting Africa’s rapidly growing and youthful population into a decisive engine of inclusive growth, productivity, and innovation through large-scale investment in human capital—particularly youth and women.

 

It sees Africa’s growing young population not as a risk, but as a major asset. With the right policies and investments, this potential can create jobs, help small businesses grow, bring more informal businesses into the formal economy, and equip young people with the skills needed for the future. By investing more in education, science and technology, vocational training, entrepreneurship, finance, and digital tools, Africa can help its people drive economic transformation, stay competitive, and build lasting, resilient growth.

The OIF said the agreement marked the first concrete step in its initiative to mobilize innovative and additional funding for its most impactful projects.

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

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Paddles up! Hong Kong marks 50 Years of international dragon boat thrills

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 25 June 2026 – With top teams from around the world gearing up for the hotly contested Hong Kong International Dragon Boat Races this weekend (June 27-28), participants and spectators can expect a bumper programme of action, fun and entertainment along the Victoria Harbour waterfront in Tsim Sha Tsui – one of the city’s most vibrant districts known for its iconic skyline views and tourist attractions.

There is much to celebrate. This year marks the 50th anniversary of the Hong Kong International Dragon Boat Races as well as 35th anniversary of both the co-organiser, Hong Kong China Dragon Boat Association, and the sanctioning body, International Dragon Boat Federation (IDBF). The IDBF added to the occasion by announcing earlier this year the relocation of its headquarters back to Hong Kong.

Riding on the wave of excitement, the organiser, Hong Kong Tourism Board (HKTB), extended the annual Hong Kong International Dragon Boat Festival period to 13 days (June 19 – July 1), beginning on the historic Tuen Ng Festival (Dragon Boat Festival) and concluding on July 1, which is the 29th anniversary of the Establishment of the Hong Kong Special Administrative Region (HKSAR).

As the headline international flagship event of “Hong Kong Summer Fun”, Dr Peter Lam, Chairman of the HKTB, said the Festival not only ran over a longer period, but also featured a stronger race line-up and more vibrant entertainment programmes than in previous years, offering an experience found only in Hong Kong for locals and visitors, while showcasing Hong Kong’s position as the Events Capital of Asia.

More than 220 teams from 16 countries and regions will compete for top honours in the world‑renowned setting of Victoria Harbour. This year’s event also introduces the special 50th Anniversary Fishermen Invitational Cup and the 50th Anniversary Championship, paying tribute to the traditional spirit of dragon boat racing.

Visitors will be able to enjoy a series of thematic activities along the Avenue of Stars, including a 22-metre traditional wooden dragon boat, a dragon boat-themed installation in collaboration with the new film Minions & Monsters, live music performances and a line-up of intangible cultural heritage performances, including martial art Wing Chun, Chinese juggling diabolo, traditional musical instruments ruan and guzheng.

Highlighting Hong Kong’s reputation as the birthplace of modern international dragon boat racing, as well as its strengths as a global hub city, the IDBF has taken a significant step in its long‑term global strategy with the formal incorporation of International Dragon Boat Federation Limited in Hong Kong on 29 April 2026.

“Incorporation in Hong Kong is not a conclusion, but a beginning. It anchors our Federation in the city where our international story started and strengthens our ability to serve our members and the global dragon boat family,” said Claudio Schermi, President of the IDBF.

As part of this new chapter, the IDBF has applied for funding under “the Pilot Scheme to Strengthen the Presence of Hong Kong in Asian and International Sports Associations”, which was recently introduced by the HKSAR Government’s Culture, Sports and Tourism Bureau. The Pilot Scheme is an initiative designed to support Asian and international sports associations establishing their headquarters or regional headquarters in the city.

The Dragon Boat Festival has a long and colourful history dating back more than two thousand years. Held each year on the fifth day of the fifth lunar month, the day commemorates the patriotic poet Qu Yuan.

According to legend, Qu committed suicide for his beliefs by throwing himself into the Luo River. The villagers nearby raced out on their dragon boats, banging gongs and drums to scare away fish and other underwater creatures to stop them from eating Qu’s body. The tradition continues to this day, with dragon boat competitions taking place at locations across Hong Kong, each reflecting the unique characteristics of its neighbourhood.

Traditional dragon boat treats feature prominently during the festival, notably zongzi. These glutinous rice dumplings, traditionally wrapped in bamboo leaves and steamed or boiled, are widely available during the festive period.

 

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