Welcome to the September edition of Addleshaw Goddard’s Africa Business Newsletter. The articles in this report highlight the developments in mass transportation systems in about 6 African cities over recent years, their unique features and challenges faced in the development and roll-out of these transportation systems.

Sharm El-Sheikh, 26 September– Africa Finance Corporation, the leading infrastructure solutions provider on the continent, today announced the successful signing of a US$300 million loan facility agreement with the Export-Import Bank of China (CEXIM).

Dubai, United Arab Emirates; September 26th 2023: AMEA Power, one of the fastest growing renewable energy companies based in the Middle East, announced today it has reached financial close on its 120MW solar PV project in Tunisia.

The African Development Bank and Google have formalized cooperation aimed at advancing digital transformation in Africa. The parties signed a Letter of Intent during the Global Africa Business Initiative at the United Nations General Assembly in New York.

Join us at the Africa Sports Unified Connex Summit, an executive level event that brings together leaders within the Pan-African sports industry for an unforgettable day of networking and learning to drive growth and innovation with African Sports industry Leaders.

Standard Chartered Bank Kenya hosted two events on the side-lines of the Africa Climate Summit with the aim of bringing together key stakeholders to discuss Kenya’s carbon economy as well as its sustainable finance opportunities.

Although a polarised world poses serious risks for Africa, the continent has always proved its resilience in the face of challenges and is still a place of opportunity. For African countries and investors, the time is now. Join experts from Control Risks and Oxford Economics Africa where they will discuss the report's key themes, risks and opportunities for investors and examine what these mean for Africa in the year ahead. 

DLA Piper Africa’s Burundi office, RUBEYA & Co-Advocates, has announced the appointment of Ida Djuma as its Managing Partner. Ida succeeds Claver Nigarura, with her appointment further strengthening the firm's leadership team and position as one of the leading law firms in Burundi.

Africa GreenCo Group, through its Zambian-based operating company GreenCo Power Services Limited (together, GreenCo), is delighted to announce the execution of an Implementation Agreement (IA) with the Government of the Republic of Zambia.

AMEA Power, one of the fastest growing renewable energy companies based in the Middle East, announced today it has signed a 25- year Power Purchase Agreement (PPA) with the Government of Djibouti for a 25MW solar PV project coupled with Battery Storage in the Grand Bara area.

African Infrastructure Investment Managers (AIIM), a leading African infrastructure private equity manager, and N+ONE DATACENTERS (N+ONE), a leading African data center owner and operator, are joining forces to  develop a new Pan-African data center and cloud services platform

As the dust settles from the release of the first two global sustainability reporting standards, KPMG invites you to join them as they explore the future of reporting and assurance in a fast developing market.

DLA Piper has today confirmed the appointment of Nick Grootes as a director in their Finance, Projects & Restructuring (FP&R) team in South Africa.

Africa is being asked both to make huge commitments to stop burning gas, even as European countries double down on LNG import infrastructure. To bridge the gap, the Africa Finance Corporation (AFC) is trying to change minds… early.

The energy and electricity markets in Africa are experiencing significant growth, particularly in the expansion of installed renewable energy sources. Insurance can play a role in facilitating the further flow of funds into the continent.

Based on conversations with Diligencia’s own clients, Diligencia has selected five of the most common challenges that CDD teams face when onboarding customers in the MEA region, along with some potential ways to accelerate and streamline the process.

The COVID-19 pandemic put public health processes around the world to the test and under immense pressure, often exercising workforces beyond capacity. This caused nations worldwide to re-evaluate how much is invested in healthcare. It also led to patients becoming more mindful of their health, and as a result, monitoring accelerated through increased interest in portable devices (such as smartphones and watches).

Gemcorp Holdings Limited (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) are pleased to announce the financial close of the Cabinda Oil Refinery in Angola. The US$473 million project is financed through US$138 million of equity already provided by the project sponsors and US$335 million project financing facility led by AFC, Afrexim and a consortium of international and local financial institutions. The project is being developed by GHL in partnership with Angola’s state oil company, Sonangol.

This month's Addleshaw Goddard Africa Newsletter focuses on the growth of Africa's mobile money market – from the early emergence of Kenya's M-Pesa in the 2000s to the banking-disruptors of today. As the industry continues to grow, but as competition increases and as new technologies (including digital assets) present potentially attractive alternatives to mobile money – what does the future for mobile money in Africa look like?

What and who is a capital city for? At once home to the administrative machinery of a sovereign government and seat of political authority, capitals also serve as a symbol of national identity – at best unifying a population as a source of national pride while acting as a country’s advertisement to the wider world.  That is why leaders throughout history have constructed specially planned cities to serve as the central hub of their nations. The latest addition to this series will be the as yet unnamed new capital of Egypt.