Year: 2024

Africa Finance Corporation (AFC) invests in Africa’s largest copper complex, driving mineral beneficiation on the continent

Mr Mohammed

KINSHASA, Democratic Republic of the Congo, June 26, 2024/ — Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, is pleased to announce the closing of a US$150 million senior loan with Kamoa Copper to support the expansion of the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. The loan by AFC, who acted both as lender and arranger, aligns with the Corporation’s commitment to support the local beneficiation of Africa’s abundant mineral resources to unlock the continent’s economic prosperity. Kamoa-Kakula is a world-class, high-grade, low carbon-intensive,…

Bringing Finance to African Energy Projects: AEC to Host Energy Players in Europe’s Financial Capital

Mr Mohammed

Global investment in upstream oil and gas is set to reach $570 billion in 2024, showing a 7% rise compared to 2023 expenditure. Of this, 33% is expected to be directed towards frontier fields, presenting a strategic opportunity for undeveloped oil and gas markets in Africa. With lack of investment representing one of the biggest challenges to project development across the continent, the African Energy Chamber (AEC) will host a networking reception on July 11 in London – Europe’s financial capital. Taking place at the Four Seasons Hotel London at…

Canon enters recycling system business with innovative technology, promoting circular economy with high-speed, accurate plastic sorting equipment capable of measuring even black plastic waste

Mr Mohammed

DUBAI, United Arab Emirates, June 26, 2024/ — Canon Inc. (https://en.Canon-CNA.com/) announced today that it will launch new plastic sorting equipment with innovative material identification technology. The equipment applies Raman spectroscopy technology to moving objects with a tracking mechanism to collectively detect the material types of plastic fragments with high accuracy, even when black plastic pieces are mixed with other colors, which has been conventionally challenging. Today, the company will begin widely accepting orders from the market for the “TR Series” which includes the “TR-S1510.” Currently, roughly 20%[1] of plastic waste generated in…

14th Meeting of the Open-ended Working Group of the Basel Convention:

Mr Mohammed

Science every day identifies more hazardous constituents in waste. Recycling operations are also changing as new ways are found to recover valuable content from waste. These changes raise new questions for parties to the one of the oldest multilateral environmental agreements, the Basel Convention, as to how the waste trade can be better monitored and regulated. The Fourteenth Meeting of the Basel Convention’s Open-ended Working Group (OEWG-14) is the only occasion for all parties to meet face-to-face before the next meeting of the Conference of the Parties, COP 17, takes place…

Artificial Intelligence (AI) and the future of work – the opportunity for Africa

Mr Mohammed

JOHANNESBURG, South Africa, June 24, 2024/ — Africa has a unique opportunity to influence what the future of work looks like in these early days as large language learning models (LLMs) are evolving, and the environment for applications is still new. This is according to the AI and the Future of Work in Africa whitepaper produced by Microsoft (www.Microsoft.com) and a collective of industry experts from across the continent. Nearly one billion people in Africa are currently under the age of 35 with the continent projected to be home to almost…

CityBlue Hotels and National Museums of Kenya Announce Strategic Partnership

Mr Mohammed

The National Museums of Kenya (NMK) and CityBlue Hotels (CityBlue) are proud to announce a new partnership to co-promote tourism and culture in Kenya. This alliance marks an exciting opportunity for sponsorship, co-branding, co-marketing and other forms of collaboration. NMK was established by an Act of Parliament, the Museums and Heritage Act 2006, as a multi-disciplinary institution whose role is to collect, preserve, study, document and present Kenya’s past and present cultural and natural heritage. This is for the purposes of enhancing knowledge, appreciation, respect and sustainable utilization of these…

67th Meeting of the GEF Council: momentum for people and the planet

Mr Mohammed

The 67th meeting of the GEF Council, the 36th meeting of the Least Developed Countries Fund/Special Climate Change Fund (LDCF/SCCF) Council, and the 2nd meeting of the Global Biodiversity Framework Fund (GBFF) Council collectively adopted work programs totaling USD 736.42 million. The work programs will seek to bring global environmental benefits through activities addressing biodiversity loss, chemicals and waste pollution, land degradation, climate change, and international waters. Among other projects and programs, funding was approved for a Great Green Wall program established between the LDCF and GEF Trust Funds, a…

SPP, DCC Unveil Initiative To Rate, Rank Nigerian States’ Climate Governance Performance

Mr Mohammed

The Society for Planet and Prosperity (SPP), in close collaboration with the Department of Climate Change (DCC) of the Federal Ministry of Environment in Abuja, has announced plans to officially launch the rating and ranking of the climate governance performance of Nigeria’s 36 states in July 2024. The statement was made on Thursday, June 13, 2024, at the inaugural coordination meeting of climate change desk officers from Nigerian states, which was convened by the DCC. SPP President, Prof Chukwumerije Okereke, while presenting the state of play of the rating and…

A Model for African Producers: Wing Wah’s $2B Integrated Energy Project to Bolster Resource Monetization in the Republic of the Congo

Mr Mohammed

JOHANNESBURG, South Africa, June 21, 2024/ — The Republic of the Congo has a goal of increasing hydrocarbon production to 500,000 barrels per day (bpd) and projects such as Wing Wah Oil Company’s Bango Kayo development will serve as catalysts for meeting this objective. The project is a strong example for how integration and scalability can be utilized to not only monetize resources but maximize production beyond the lifecycle of initially-tied in blocks. The African Energy Chamber (AEC) – the voice of the African energy sector – conducted a tour…

Africa Offers Attractive Investment Opportunities for Japanese Firms, Say African Development Bank Leaders

Mr Mohammed

TOKYO, Japan, June 22, 2024/ — Africa presents a compelling investment destination for Japanese firms, with high growth potential and the African Development Bank’s strong support to manage risks, African Development Bank Group (www.AfDB.org) leaders stressed at the Japan-Africa Business Forum in Tokyo. “Africa has huge private sector opportunities. The continent offers some of the highest returns globally,” said Prof. Kevin Chika Urama, Bank Group Chief Economist and Vice President, in a presentation highlighting Africa’s abundant renewable energy potential, and the need for strategic investments in green minerals and value…