Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue. Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention. Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues. AIM Congress, now on its 13th edition, is gearing up to host over 300 startups from diverse fields of innovation and industries ..read more

TLcom Capital has raised $154 million  in its second Fund, TIDE Africa II With this second fund, TLcom Capital maintains its early-stage, multi-sector focus and expands its mandate beyond Sub-Saharan Africa to Egypt. TLcom Capital currently has over $300 million under management. TLcom Capital, the Africa-focused venture capital firm, announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. Confirming TLcom Capital’s status as Africa’s largest Seed and Series A investor, the new fund accelerates the firm’s mission to partner with ..read more

AfDB asks policymakers to put in place an orderly and predictable way of dealing with Africa’s $824Bn debt pile. According to AfDB, Africa’s ballooning external debt reached $824 billion in 2021. AfDB president says there is urgent need for increased concessional financing, particularly for low-income countries.  Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth, African Development Bank (AfDB) President Dr Akinwumi Adesina has said. Adesina at the Semafor Africa Summit ..read more

South Korea-based LB Investment, which has $1.2 trillion Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress. The firm will showcase a diverse portfolio of startups and companies, representing cutting-edge innovation and disruptive solutions across industries. Among the notable entities brought to the forefront by LB Investment are LisMed, Standard Energy Inc., t’order, FITPET, LABLUP, BLUEZONE WIDE, NOTA AI, and ABYSS Company. LB Investment, a venture capital company with a legacy of fostering innovation and entrepreneurship, and with $1.2 tril ..read more

Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy. She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment. AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa. The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzi ..read more

UN faults UK-Rwanda asylum treaty citing concerns on potentially harmful impact on global responsibility-sharing, human rights, and refugee protection. Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country. With deportation flights slated to start in July, the move is sparking weighty debates over the ethical implications of outsourcing asylum responsibilities. This week’s passage of the “Safety of Rwanda” Bill by the UK Parliament has triggered alarm bells within the United Nations (UN), with two prominent leaders, Filippo Grandi ..read more

Namibia’s Mopane field could hold up to 10 billion barrels of oil, Galp announces. Tests on Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings. Exploration success in Namibia could pave the way for a new revenue stream for Galp. Portuguese oil company Galp Energia has set the stage for a potential game-changer in the global energy industry with its announcement at the weekend regarding the Mopane field off the coast of Namibia. Following the conclusion of the first phase of exploration, Galp projects that the Mopane field could hold up to 10 billion barr ..read more

Chronic instability plagues the existing power grids, worsened by the pressing need to connect growing populations. The advent of renewable energy sources introduces new complexities, considering the intermittent nature of solar and wind power generation. Wärtsilä Energy says deploying battery storage and flexible engine power plants offers a pathway toward reliable grid resilience. Across economies in Africa, a profound transition is underway. Increasingly, economies are grappling with the dual challenge of meeting burgeoning energy demand while steadily transitioning towards sustainability ..read more

Energy experts warn that the shortages that plague Africa’s electricity access in 2024 will have a significant drain on the continent’s economic growth. World Bank will connect 300 million Africans to electricity with a $35 billion plan. Africa is poised to adapt to transformative advancements that will reshape the landscape of energy access, storage, and connectivity across the continent. Africa remains the most energy-deficient continent, with approximately 75 per cent of its population lacking access to electricity. As of 2021, 43 per cent of Africans, roughly 600 million people, were wit ..read more

Leading the lineup of this year’s Annual Investment Meeting (AIM) keynote speakers is H.E. Ahmed Aboul Gheit, the Secretary General of the League of Arab States. Her Majesty Tirelo Molotlegi, the Princess of the Royal Bofakeng Nation, brings a unique perspective on sustainable development and community empowerment. Prof. Rae Kwon Ching, Nobel Prize Winner and Chairman of the Global Energy Prize International Award Committee, will discuss sustainable energy solutions. The AIM Congress 2024, which is scheduled from May 7 to 9 in Abu Dhabi, is set to be a groundbreaking event, attracting a cons ..read more