With global attention focusing on climate change and the clean energy transition, Africa is an important continent to watch in the drive for decarbonisation alongside rapid economic development.

His Excellency Dr. Lazarus McCarthy Chakwera, President

of the Republic of Malawi, has presided over an inauguration ceremony to mark the addition of

60MWac of additional clean energy to Malawi’s national grid. As Malawi’s first utility-scale solar

photovoltaic plant, Salima Solar is contributing to the country’s ambition to minimise its carbon

emissions whilst promoting economic growth through access to reliable energy access

The last decade was hotter than any other period in the previous 125,000 years, attributable to rising greenhouse gas (GHG) emissions — principally carbon dioxide, methane and nitrous oxide — primarily released from the combustion of coal, oil and gas.

Free zones – special economic jurisdictions which promote trade by suspending customs duties – are like Tolstoy’s description of families: while all functional free zones are alike, each dysfunctional free zone is dysfunctional in its own way.

As COP26 drew to a close this weekend, African negotiators left Glasgow to a mixed response. The explicit mention of fossil fuels for the first time in any COP agreement was a significant step but one watered down by interventions from China and India. Despite Alok Sharma’s promised that as President of COP he would champion developing countries, a loss and damage facility to support poorer nations in paying recovery from climate related disasters was scrapped.

InfraCo Africa, part of the Private Infrastructure Development Group

(PIDG) and Helios Investment Partners (Helios) are working together to establish a pan-African

investment vehicle: Climate, Energy Access and Resilience (CLEAR). CLEAR will fund climate-aligned

infrastructure and growth businesses whilst also working towards achievement of the UN Sustainable

Development Goals

As global leaders gather in Glasgow for COP26 next week, it is important that Africa’s interests are placed at the heart of the global climate agenda. The landmark talks, which the US’s Special Presidential Envoy for Climate has described as the “last best chance” to keep global heating under control, come at a critical time for the Continent. Covid-19 has profoundly affected lives and livelihoods across Africa, with the region now predicted to recover more slowly than any other. Meeting the twin goals of returning to a strong growth trajectory and achieving net-zero emissions will be the defining challenge of Africa’s next decade.

At the dawning of the post-pandemic era, South African companies are facing unprecedented technological disruptions, rapidly outdating business models and the exposure of socio-economic fault lines. C-Suites are confronted with a concoction of risks that are exacerbated by the rising of unemployment, ongoing corruption, financial criminality, cybersecurity threats and concerns around the new vaccine-resistant COVID-19 variants. How companies emerge into the light of day will depend on their resilience and ability to successfully mitigate the risks and threats through informed insights and solid preparation.

Verto, a global B2B payments platform that provides a fast, simple, and reliable way for small and medium-sized enterprises (SMEs) to

make payments to their suppliers in over 200 countries across 39 currencies, has raised $10

million in a Series A round of funding led by leading fintech investor Quona Capital, alongside

Treasury, Middle East Venture Partners (MEVP), TMT Investments, Unicorn Growth Capital,

Zrosk Investment Management and P1 Ventures. Previous investors include Y Combinator,

Accelerated Digital Ventures, and Ace & Company.

There has long been a traditional way of thinking in the education sector that one-curriculum-fits-all, and every student learns at the same pace in the same place. The curriculum of today has not significantly changed from the curriculum of 20 years ago. The same content is being taught but, because of the speed at which the world is advancing, we need to know and learn things today that were unheard of 20 years ago.

A Festival focused on the Global South, featuring Deepak Chopra, Baratunde Thurston, Mustafa Shakir, and more

The FATF has taken the decision, at its Plenary session held this week, to remove Mauritius

from the list of “Jurisdictions Under Increased Monitoring”, commonly referred to as the Grey

List.

The Wealth Report is Knight Frank’s flagship thought-leadership publication compiled by our global research teams. The report has evolved since it was first published in 2007 to become a highly anticipated document that is considered vital reading for ultra-high-net-worth individuals (UHNWIs) across the globe and their advisors.

DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH, Germany’s development finance institution and a subsidiary of KfW Group, announces the acquisition of a minority equity stake in Ashwah Holdings Limited (“Ashwah”), the parent company of Daraju Industries Limited (“Daraju”) - one of Nigeria´s leading manufacturers of FMCG products in the personal care and household care segment. Ashwah is also currently a portfolio company of African Capital Alliance (ACA).

Welcome to the September/October 2021 edition of Addleshaw Goddard's Africa Group Newsletter. We hope you enjoy reading a selection of business news and articles from around the continent. The newsletter theme this month is technology and innovation.