The move is aimed at tackling air pollution and revolutionizing urban mobility in West Africa.

Over the next ten years, they plan to introduce 33,000 electric taxis, replacing combustion-powered vehicles with cleaner, more affordable options for both drivers and passengers.

While East Africa has seen a surge in electric mobility since 2015, West Africa lags behind.

Mbay Mobility seeks to bridge this gap, positioning these three cities as regional hubs for eco-friendly transportation.

The company successfully piloted 10 electric taxis in Senegal in 2022 and is now seeking additional financial partners to scale up the project.

“Dakar’s taxis, though few in number, contribute significantly to air pollution,” says Matthew Sellar, CEO of Mbay Mobility. “Our trials show electric vehicles work well, are loved by passengers and drivers, and offer substantial savings.”

By providing affordable, convenient electric taxis, Mbay Mobility’s vision extends beyond environmental impact, aiming to empower drivers, enhance passenger experience, and drive positive change across the region.

This marks a crucial milestone just one year after the project’s groundbreaking.

The first BioNTainer, a prefabricated modular unit designed for rapid deployment and efficient mRNA production, represents a $150 million investment fully financed by BioNTech.

The overall facility spans a vast 35,000 square meters and will ultimately employ around 100 staff members once operational.

While full commercial production is still slated for 2025, BioNTech is on track to complete the construction of all buildings at the Kigali site in 2024.

Additionally, the company plans to begin local training for specialized personnel and initiate test mRNA production for process validation within the same year.

BioNTech intends to launch clinical trials in 2024 for vaccine candidates targeting malaria, tuberculosis, and HIV – diseases that claim over two million lives annually in Africa, disproportionately impacting children.

Upon successful development and regulatory approval, BioNTech aims to make these vaccines available to lower-income countries at a non-profit price.

BioNTech’s commitment to bringing mRNA vaccine technology to Africa is not just about building infrastructure but also about fostering partnerships and ensuring equitable access to life-saving vaccines.

The first BioNTainer in Kigali symbolizes a promising step in this direction, offering hope for a future where advanced medical solutions are available to all.

The IFC’s investment includes a $7 million rand loan to support Biovac’s current production of various vaccines, including those for HPV, meningococcal disease, cholera, and several pediatric vaccines.

Beyond the financial support, the IFC and Biovac have established a formal collaboration agreement.

The IFC will provide project development assistance for Biovac’s ambitious plan to build a new multi-vaccine production facility in Cape Town.

This facility is expected to significantly increase Biovac’s production capacity, from the current 150 million doses to a remarkable 560 million doses per year.

The funding will not only enable the production of traditional bacterial-based vaccines but also empower Biovac to venture into messenger RNA (mRNA)–based vaccines. This strategic move aims to strengthen African vaccine value chains and ultimately reduce the continent’s dependence on vaccine imports.

Biovac’s Chief Financial Officer, Craig Mitchell, expressed his excitement about the partnership with the IFC, highlighting its crucial role in advancing research and development, drug substance, and achieving end-to-end manufacturing capabilities in Africa.

Biovac stands out as one of the few vaccine companies in Africa with robust product development capabilities.

It currently supplies approximately 80% of South Africa’s routine pediatric vaccines and has delivered over 450 million vaccine doses since 2003 to public healthcare facilities in South Africa, Angola, Botswana, Eswatini, Lesotho, Mozambique, and Namibia.

The initiative aims to provide vital financial support for climate change adaptation and mitigation projects in eight West African nations: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

The Climate Study Fund will offer grants to fund feasibility studies, technical assistance, and capacity-building activities related to climate-resilient infrastructure development and green growth initiatives.

The fund seeks to unlock larger investments in climate-smart solutions and accelerate the region’s transition to a low-carbon economy.

The Climate Study Fund aligns with BOAD’s broader climate finance strategy, which aims to mobilize €1.5 billion by 2025 to support climate-related investments across its member states.

The bank recognizes the disproportionate impact of climate change on West Africa, which is characterized by increased droughts, floods, and rising sea levels.

These challenges threaten food security, water availability, and economic development, highlighting the urgent need for effective climate action.

With these licenses, Flutterwave can now facilitate remittances to and from approximately 29 US states through its popular Send App, enhancing accessibility for the African diaspora and businesses operating across the Atlantic.

“Acquiring these licenses strengthens our regulatory footprint and demonstrates our commitment to providing safe, reliable, and compliant financial services,” said Stephen Cheng, Executive Vice President for Global Expansion and Partnerships at Flutterwave.

This significant development comes four months after Flutterwave’s initial expansion into the US cross-border payment market.

Flutterwave’s proactive approach to acquiring licenses aligns with its strategy to solidify its position in the remittance space, particularly following regulatory challenges encountered in Kenya last year.

In recent months, the company secured International Money Transfer Operator (IMTO) licenses in Malawi and Rwanda and partnered with IndusInd Bank to launch Send App in India.

Flutterwave’s strategic acquisitions and partnerships position the company as a major player in the US-Africa remittance landscape.

This greenfield 50MW solar power project, developed by Frontier Energy and Planet One, will be the country’s first large-scale grid-connected solar Independent Power Producer (IPP).

The investment underscores the country’s commitment to diversifying its energy mix and addressing the urgent need for clean, affordable, and stable power.

Only 23% of Sierra Leone’s population has access to electricity, and a staggering 80% of the country’s electricity is generated from fossil fuels.

“This project is a critical step towards unlocking Sierra Leone’s abundant renewable energy potential and accelerating progress towards net-zero emissions,” said Chris Chijiutomi, Managing Director and Head of Africa at BII

“By supporting Planet Solar, we are not only providing clean energy to underserved regions but also laying the foundation for a more sustainable future.”

The 50MW solar capacity is expected to increase the operational domestic electricity supply by approximately 30%, benefitting commercial and industrial entities, public institutions, and households connected to the main grid.

This will bring much-needed power to communities in Freetown, the Western Area, and beyond.

The Planet Solar project aligns with the United Nations’ Sustainable Development Goals (SDGs) for Affordable and Clean Energy (SDG 7), Decent Work and Economic Growth (SDG 8), and Climate Action (SDG 13).

It is also supported by the Africa Resilience Investment Accelerator initiative, co-led by BII and FMO, which aims to unlock investment opportunities and mobilize commercial capital in frontier markets across Africa.

Following successful pilots in Hurlingham, Dagoretti, and Mountain View in 2022, 16 additional TotalEnergies service stations will be equipped with battery swap stations starting immediately.

This initiative aligns with TotalEnergies’ commitment to sustainability and aims to accelerate the reduction of CO2 emissions from Nairobi’s transportation sector.

Ampersand’s battery swap stations provide a convenient and efficient way for electric motorbike riders to exchange their batteries, allowing them to continue their journeys without waiting for long charging times.

“We are transforming the electric motorbike recharging landscape in Nairobi,” says Josh Wale, CEO of Ampersand.

“By strategically placing battery exchange stations within 5 to 10 kilometers of all operational areas, we provide unparalleled convenience and efficiency for our customers. This new network offers the same reliability and customer experience as a petrol station, while supporting the sustainability goals of TotalEnergies and preserving jobs for thousands of employees across Kenya.”

The new network expansion comes as Ampersand prepares to roll out 600,000 electric motorbikes in Kenya, Rwanda, and Uganda.

Founded in 2016 with the mission to enable the energy transition in the East African transport sector by 2030, Ampersand is committed to providing affordable and sustainable transportation solutions that benefit both riders and the environment.

The official inauguration of one of the new battery swap stations took place recently in the Westlands district, with Jean Philippe Torres, TotalEnergies’ Country Manager, in attendance.

This partnership marks a significant step in Ampersand’s ambitious vision to electrify East African transportation and contribute to a cleaner future for the region.

This collaboration aims to address the growing demand for seamless and efficient international trade solutions in the East African region.

Verto’s comprehensive platform offers cutting-edge financial services, including foreign bank accounts, instant currency exchange, and international money transfers, empowering businesses to operate seamlessly across borders.

With the capability to hold funds in over 51 currencies, Verto’s platform caters to the diverse needs of businesses seeking global expansion.

“Verto’s partnership with UBA marks a significant milestone in our mission to simplify cross-border payments for businesses in East Africa,” stated Kevin Nganga, Country Director for Verto in Kenya.

“By aligning with UBA, we are strategically positioned to address the complexities of international trade and provide businesses with the tools they need to thrive in the global marketplace.”

Verto boasts an established financial ecosystem worth $3 billion, serving a growing customer base of over 3,000 businesses in Kenya, including industry leaders such as MTN, Yoco, and Interswitch.

The company’s focus on businesses in the travel & tourism, education, telecommunications, and import/export industries aligns with Kenya’s key economic sectors.

UBA, with its extensive pan-African presence and deep understanding of the region’s financial landscape, brings complementary expertise to the partnership.

Together, Verto and UBA are committed to bridging the gap in cross-border financial services and supporting the growth of businesses across East Africa.

Kenya’s fintech sector has witnessed remarkable growth in recent years, driven by increasing tech adoption and the transformative impact of mobile financial services.

The partnership between Verto and UBA further reinforces Kenya’s position as a hub for financial innovation and its commitment to facilitating cross-border trade within East Africa and beyond.