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Sabrine Chennaoui 

Sabrine Chennaoui 

She is a Tunisian deep tech enthusiast and an eco-innovator driving sustainable change.

She is leading the charge in climate tech with a machine converting used cooking oil into eco-friendly solutions.

Sabrine is doing this through MONSAPO, an innovative Greentech start-up that aims to disrupt the green cleaning industry.

MONSAPO’s ecological cleaning products line is based on a circular economy and sustainable development.

Sabrine is also passionate about entrepreneurship, sustainability, and empowering women in business.

She holds a bachelor’s degree in Business Administration and a master’s degree in Marketing from the Mediterranean School of Business.

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Getnet Aseffa

He is the Founder of iCog Labs, a renowned AI and Robotics Research and Development Company based in Addis Ababa, Ethiopia.

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Chido Munyati

Chido Munyati

He is a true African Changemaker whose leadership and dedication are making a significant impact on our continent

As the Head of Africa and a Global Leadership Fellow at the World Economic Forum, Chido plays a pivotal role in shaping conversations and driving action on critical issues affecting Africa.

His extensive experience, from law to international relations, brings a unique perspective to the table, ensuring Africa’s voice is heard on the global stage.

He is also an Agenda Contributor, actively shaping the Forum’s discussions and publications, ensuring that African perspectives are heard and represented in international discussions.

Chido works tirelessly to showcase Africa’s strengths and opportunities, promoting the continent as a key player in the global landscape.

Through his work at the World Economic Forum, Chido advocates for policies and initiatives that empower African communities and drive sustainable development.

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Evelyne Dioh Simpa

She is the Managing Director of WIC CAPITAL, the first investment fund in West Africa that exclusively targets women-led small and growing businesses.

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Nelly Cheboi

Nelly is a Kenyan social entrepreneur leveraging the digital economy to lift communities out of poverty.

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Africa’s Digital Commerce Projected to Reach $72 Billion by 2026 – EBANX Report 

Key Developments

Africa's Digital Commerce Projected to Reach $72 Billion by 2026 - EBANX Report 

Africa is experiencing a surge in online consumerism, becoming a key player in the global digital commerce landscape, according to a new report by EBANX, a global fintech company.
 

The report highlights that emerging markets in Africa, Asia, and Latin America are driving the rise of the new global consumer.

These regions account for 70% of the 109 million people worldwide entering the consumer class in 2024, as per the World Data Lab.

This shift towards digital consumers will significantly impact digital commerce, payments, and the growth of B2B transactions.

While developed nations see a 13% annual growth in digital commerce, Africa is witnessing a much faster expansion at 25%, according to Payments and Commerce Market Intelligence (PCMI).

This growth is expected to propel the continent’s digital commerce market to a staggering US$72 billion by 2026 in its top five markets: Egypt, Kenya, Morocco, Nigeria, and South Africa.

Africa is also projected to contribute more to global consumer spending than Europe in the coming decade.

The report emphasizes the transformative impact of digitalization in Africa. Internet access is expected to become nearly universal in some regions by 2028, with Egypt leading the charge with an anticipated internet penetration exceeding 98%.

However, despite this progress, only 44% of African adults currently engage in online purchases, indicating significant untapped potential for further growth.

Online retail dominates Africa’s digital commerce space, accounting for 58% of the digital volume in key countries in 2023. This trend highlights the crucial role of e-commerce in driving the continent’s digital economy forward.

Unlike developed nations, traditional financial services are not widely accessible in Africa. This has led to the widespread adoption of alternative payment methods (APMs) such as mobile money, which cater to the unbanked population.

In fact, APMs account for a staggering 69% of the total digital commerce value in Africa, compared to just 31% for card payments. While cash remains a preferred payment method, APMs are poised to capture an even larger market share in the future.

The global B2B transaction landscape is predominantly manual, with 70% lacking seamless processes. This presents a significant opportunity in emerging markets like Africa, where B2B digital payments are growing considerably faster than the global average of 11% annually.

These regions are expected to constitute 40% of the total value of online B2B payments globally by 2027. Furthermore, the rise of B2B marketplaces across Africa is contributing to the increased adoption of digital B2B transactions.

This report by EBANX paints a promising picture of Africa’s digital commerce future, driven by a growing consumer base, rapid digitalization, and innovative payment solutions. The continent is poised to play a significant role in the global digital economy in the years to come.

Find out more about the report here – https://www.ebanx.com/en/beyond-borders-2024/

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d.light Secures $7.4 Million to Expand Solar Power Access in Nigeria

New Investments

d.light Secures $7.4 Million to Expand Solar Power Access in Nigeria

d.light, a leading provider of solar-powered solutions, has secured $7.4 million in financing to advance their Pay-Go service and broaden access to solar products for low-income households in Nigeria.
 

The funding comes from the Nigeria Infrastructure Debt Fund, managed by Chapel Hill Denham, a prominent Nigerian asset manager. African Frontier Capital acted as the transaction’s main and backup servicer, structuring and sponsoring the financing.

Founded in 2007, d.light has already impacted over 150 million people by selling nearly 30 million solar products across Africa. The company aims to reach a billion individuals in developing countries by 2030.

“This new financing will allow us to provide more affordable solar-powered products to low-income Nigerian households,” stated Nick Imudia, CEO of d.light.

The company has successfully utilized securitized financing to raise funds for off-grid solar projects in other sub-Saharan African countries and plans to leverage this experience to expand its operations in Nigeria.

This investment allows Chapel Hill Denham to contribute to Nigeria’s renewable energy sector and promote sustainable development through “pioneering local currency securitisation for financing solar home systems and essential solar-powered household utilities,” said Bolaji Balogun, CEO of the asset manager.

Anshul Rai, Partner for Infrastructure & Climate at Chapel Hill Denham, emphasized their commitment to “continue broadening the range of financing solutions available to infrastructure providers in Nigeria, with a particular focus on addressing the country’s most significant sustainable development challenges.”

This financing adds to d.light’s recent achievements, including a $30 million securitization facility secured from the TDB Group in August 2023 and a successful full repayment of their initial securitized loan.

Notably, the company experienced a 41% revenue surge in the first half of 2023, driven primarily by its operations in Nigeria.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Teraco to Invest $106 Million in South Africa’s Largest Private 120MW Solar Plant for Data Centers

Key Developments

Teraco to Invest $106 Million in South Africa's Largest Private 120MW Solar Plant for Data Centers

Teraco, a leading African provider of carrier-neutral colocation data centers, has announced plans to build a 120-megawatt (MW) utility-scale solar photovoltaic (PV) power plant in South Africa’s Free State province.
 
This comes amidst ongoing energy challenges faced by the country, with Eskom, the state-owned electricity provider, struggling to meet demand due to its reliance on coal-fired power stations.

“Eskom’s load shedding has significantly impacted businesses, including ours,” said Jan Hnizdo, CEO of Teraco.
 
“This project will allow us to supplement our energy needs with clean, renewable power, reducing our reliance on expensive and environmentally harmful diesel generators.”

The $106 million project is expected to be completed within 18 months and will connect to the national grid.
 
Once operational, the plant is estimated to generate over 338,000 MWh of electricity annually, powering Teraco’s data centers across the country and contributing to a more sustainable future.

Teraco has partnered with Juwi Renewable Energies South Africa and Subsolar for the development of the solar plant.
 
Juwi will handle design, procurement, construction, and commissioning, while Subsolar will oversee the installation.

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Swedfund Invests $5 Million in Ivory Coast’s Bridge Bank Microfinance to Support Women-Led Businesses

New Investments

Swedfund Invests $5 Million in Ivory Coast's Bridge Bank Microfinance to Support Women-Led Businesses

Swedfund, a Swedish development finance institution (DFI), has partnered with African credit fund BluePeak Private Capital Fund to invest $5 million in Bridge Bank Microfinance (BBM), a subsidiary of West Africa-based Teyliom Finance.
 

This investment aims to strengthen financial access for micro, small, and medium-sized enterprises (MSMEs), particularly those owned by women, in Côte d’Ivoire.

The $25 million combined investment will be managed by BBM.

Swedfund anticipates it will improve access to finance for women entrepreneurs, boost MSME growth, and create income and employment opportunities across West Africa.

BBM plans to tailor its offerings specifically to women-led businesses, aligning with Swedfund’s commitment to promoting gender equality and empowering women financially.

This investment marks Swedfund’s first venture into the Ivorian market since establishing a regional office in Abidjan in 2023.

Kitanha Toure, Head of Swedfund’s Abidjan office, highlighted the DFI’s dedication to supporting the development of a gender strategy.

She emphasized the challenges faced by MSMEs, especially those led by women, in securing funding in Côte d’Ivoire.

Responsible lending to these enterprises, she explained, can stimulate private sector growth, create formal employment, and advance gender equality.

Swedfund, Teyliom Finance, and BBM have agreed to implement a gender strategy that will be monitored by Swedfund throughout the loan period.

This collaboration builds on Swedfund’s previous investment in BluePeak and its commitment to providing long-term capital to African businesses through its investments in BluePeak and Vantage Mezzanine Fund IV.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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