TopCast’s Post

#ForesightAfrica: The world has plenty of talk shops. Has the time come to walk the talk at Italy - Africa Summit 2024? 1. #Italy, like EU and many other Western countries, has a well-established tradition of periodical Africa+1 conferences and summits. Yet, the #ItaliaAfricaSummit caused more buzz than Italian high-level ministerial conferences in 2016 and 2018 or “Meetings with Africa” held in 2021. 2. Most importantly, it is because Italy continues to be one of the largest donors of diversified technical assistance / development programs for #Africa, both directly through the #Italian Agency for Development Cooperation and as a major donor of programs implemented by others, e.g., the UN system organizations. Italian assistance to boost African entrepreneurship, especially African MSMEs, has been the first among equals indeed. 3. The 2024 Summit happened when conflicting interests of the South and the North, or rich developed countries and developing world, in times of energy transition are intensified by climate change consequences. The Italian Government unveiled at the Summit "The #MatteiPlan / #PianoMattei” named after the late Enrico Mattei, who founded state oil company ENI, but died in 1962 in a plane crash reputedly caused by a suspected sabotage. His willingness to give oil-producing states bigger share of profits (some say also by using unconventional financial modalities) led to Eni success. To that tune the Italian Prime Minister hails the latest plan as “co-operation among equals” and “non-predatory”. 4. Italy wants to be “an energy hub” that “creates a bridge between Europe and Africa”.  Some #African leaders have not been impressed at all and told they would have liked to have been consulted beforehand. Especially about the natural gas that the #Kenyan President described in his address as “elephant in the room”.  5. Ahead of the event, over 50 civil society groups wrote a letter to the European Leaders requesting “a more consultative approach”, with a clear message that Africa is not Europe's gas station, Don't Gas Africa ! Some have openly stated that a new Italian plan for Africa is just the PR-friendly #Neocolonialism, pointing at the non-transparent ways that ENI has used to secure extensive fossil fuel projects across a dozen African countries. 6. On the surface, the Mattei Plan - decorated with a promise of Euro 5.5 billion, including loans, guarantees and grants- appeals with five pillars: education and training, agriculture, health, water, and energy. 7. Some guests, heads of the UN system organizations were quick to declare they are ready to spend a part of huge funds promised. Of course, for the benefit of the African countries and to alleviate global climate change as well as other cascading crises. Have they consulted African countries beforehand? Spotlight links 5/24 ▶️ https://lnkd.in/d4gZUq3Y #ClimateChange #EnergyTransition #AfricaWeWant #Agenda2063 #IDDA3 #DontGasAfrica #ItalyAfricaSummit

🌍 Against the backdrop of Africa's growing socio-political and economic importance, we present an African perspective on Africa's future and its partnerships with the Global North. We spoke to Joy Owango, the Executive Director of the TCC Africa-Training Centre in Communication, a key partner organization for Digital Science. We wanted to 👉 understand what should motivate investments in Africa 👉 and gain insights into why building sustainable infrastructure and human capital is vital to supporting open access in Africa. We invite you to read the blog to learn more. https://ow.ly/yT5c50POiqf #Africa #Africanperspective #sustainableinfrastructure #openaccess #Dimensions #Altmetric

Africa's challenge does not lie in its resource availability or the necessary technological skills for industrial development. Rather, the hindrance has been corruption and a lack of political will, exacerbated by bureaucratic obstacles created by unpatriotic politicians and a deeply entrenched colonial system. These factors have impeded progress, driven by the unfounded fear that an empowered Africa might disrupt the supply of vital raw materials to Europe and America—an often misunderstood notion that the Green Revolution can rectify. I firmly believe that Africa possesses the resources and potential to forge its path toward industrialization and technology, shifting away from its current dependence on fossil fuels. The continent brims with promise and opportunities. For instance, sunlight is abundant, vast desert lands can be converted into energy plants and farms, and ample water resources can sustain the entire continent, even in drought-prone regions. Furthermore, there is a substantial workforce that, with the right support, can transition into job creators rather than job seekers. What is essential at this juncture is fostering the will to drive change, through collaboration between the private sector, African businesses, investors, and engagement with the diaspora. These collaborations should be marked by mutual, equal, and equitable partnerships with Europe, America, Asia, and the Pacific, recognizing that Africa is an integral part of the globalized world. This imperative calls for African billionaires to invest in the continent, support African institutions, and create more investment opportunities for young and women-led businesses. To bolster this vision, each region should establish a minimum of three research centers connected to universities. These centers will serve as hubs of knowledge and wisdom, propelling development and building the necessary skills to sustain technological advancement. In the broader context, peace and security are paramount, with identified countries serving as role models and hubs for economic, technological, and educational progress. Now is the time for Africa to come together and build a brighter future collaboratively.

Brussels has what it takes to become the European financial hub for sustainable investments in Africa 🌍 For the Brussels-Africa Hub, a renewed partnership between Europe and Africa requires the free flow of capital across the two continents. 🇪🇺 We believe that Brussels is in a prime position to serve as the European hub where European investors can access, explore and engage with impactful investment opportunities in Africa (from fintech startups promoting financial inclusion in West Africa, to clinics improving healthcare in East Africa, and even to large-scale hybrid, hydro, and solar power plants in Central Africa that are leading the continent towards sustainable energy). Why Brussels? For (at least) three reasons. ⭐ Firstly, the presence of European institutions make it the best place for developing a new framework that encourages the European private sector and households to invest in impactful projects in Africa. While the EU's Global Gateway €150 billion strategy is a positive step, it falls short of addressing Africa's annual funding gap of approximately €200 billion needed to achieve its Sustainable Development Goals (SDGs). ⭐ Secondly, Brussels is home to a several international organizations and global entities and provides a unique opportunity for fund managers, entrepreneurs, and companies from both Europe and Africa to access the financial infrastructure necessary to effectively mobilize capital for their African ventures. ⭐ Finally, Brussels is a unique centre of expertise that gathers an ecosystem of African embassies and institutions, consultants, tax, legal and financial advisors, and diaspora associations that have a deep understanding of the African business and cultural landscape and can thus facilitate capital allocation. This massive and multi-faceted ecosystem further enhances Brussels' reputation as a hub for global cooperation and investment - making it the perfect base for investors looking to tap into the African market. The Belgian Presidency of the Council of the European Union 2024 offers Belgium a valuable chance to boost the status of Brussels as the European financial hub for sustainable investment in Africa, and to pave the way for the free movement of capital across the Mediterranean in the future. #brusselsafricahub #sustainablepartnerships #impactinvesting #europe #africa

Next week, we will be in New York for an IA Connect event on the margins of the United Nations General Assembly. On the heels of a successful Africa Climate Summit, we are delighted to be hosting a panel discussion in partnership with Milken Institute on innovation and emerging trends in #climatefinance across the continent. African countries of course face a unique challenge – contributing the least to global emissions yet forced to spend a staggering 9% of their annual budgets to combat climate disasters. This predicament incurs an annual cost of $5 billion to $7 billion, with projections soaring to $50 billion by the end of the decade. And yet, #Africa receives a mere 3% of global carbon finance. The continent is of course not backing down. As we saw last week, African leaders are championing innovative solutions – steering the continent towards becoming a renewable energy powerhouse and embracing market-based financing such as carbon credits. The continent boasts abundant renewable energy resources, including not only wind and solar energy but also the essential raw materials for solar panels, turbines, and electric vehicle batteries. Investments in carbon credits are also on the rise, with the UAE last week committing $450 million to the Africa Carbon Markets Initiative. To discuss all of this and more, we have convened a stellar panel, including: The Hon. Dr. Monde Muyangwa, Assistant Administrator for USAID; James Mnyupe, CA(SA)(Nam), CFA, CFP, Green Hydrogen Commissioner and Economic Advisor to the President, Republic of Namibia; Dario Castellanos, VP Project Financing, Middle East Director & India Acting CEO, Xcalibur Multiphysics; Jake Cusack, Co-Founder & Managing Partner, CrossBoundary; Lina Osman, Regional Head - Sustainable Finance, West, Standard Chartered Bank; and Benedikt Sobotka, Chief Executive Officer, Eurasian Resources Group. To connect with Invest Africa during #UNGA78, kindly reach out to us at events@investafrica.com https://lnkd.in/ekvEhYSJ

Looking forward to illustrating how the Namibian Green Industrialisation Agenda is looking to mobilize fit for purpose blended financing and matching that with unparalleled endowments in renewable energy potential and the requisite policy commitments, that provide a fertile foundation for sustainable industrial development - #LeapToGreen

It's Time for Africa to Invest in Africa: Meet Maxwell Chikumbutzo, the Man Electrifying Our Future Forget gas stations and charging cables! Zimbabwean innovator Maxwell Chikumbutzo is proving that Africa's ingenuity can power our own progress. He's built an electric car that runs on kinetic energy, generated by its own movement! ⚡️ This isn't just a cool science project, it's a game-changer. Imagine a continent no longer reliant on imported fossil fuels, where rural communities can zip around on self-powered vehicles, and pollution becomes a distant memory. But here's the catch: Maxwell needs support. His brilliance deserves more than just applause; it needs investment. And who better to invest in African dreams than Africans themselves? We, as a continent, have a wealth of resources, both natural and human. It's time we stopped looking outwards for solutions and started nurturing the innovators right here in our own backyards. Let's channel our resources into backing game-changers like Maxwell, because when Africa invests in Africa, the whole world benefits. ✨ Here's what you can do: Share this post: Spread the word about Maxwell's incredible invention and let's get him the support he deserves. Tag potential investors: Do you know someone who could help Maxwell take his electric car to the next level? Tag them in the comments! Start a conversation: Let's talk about what it means for Africa to invest in Africa. Share your ideas and suggestions in the comments below. Together, let's make Maxwell's dream a reality and electrify a brighter future for all of Africa! ✊ #AfricaInvestsInAfrica #ElectricCarRevolution #MadeInAfrica #MaxwellChikumbutzo

📢𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐩𝐞𝐚𝐤𝐞𝐫𝐬… As we dig into the landscape of investing in African projects, specifically from a Southern African standpoint, we are pleased to introduce a panel of distinguished experts who will guide us through 𝐓𝐡𝐞 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐯𝐬 𝐭𝐡𝐞 𝐏𝐢𝐭𝐟𝐚𝐥𝐥𝐬 𝐨𝐟 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐚𝐧 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 at our upcoming 𝐄𝐮𝐫𝐨𝐩𝐞-𝐀𝐟𝐫𝐢𝐜𝐚 𝐈𝐦𝐩𝐚𝐜𝐭 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐒𝐮𝐦𝐦𝐢𝐭. Exploring the potential and pitfalls of investing in an African project presents a multifaceted dialogue that requires a deep understanding of regulatory nuances, economic trends, and local realities. Our esteemed speakers will shed light on the 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬, 𝐫𝐢𝐬𝐤𝐬, 𝐚𝐧𝐝 𝐫𝐞𝐰𝐚𝐫𝐝𝐬 𝐭𝐡𝐚𝐭 𝐜𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐯𝐞𝐧𝐭𝐮𝐫𝐞𝐬. From tax implications and legal frameworks to renewable energy initiatives and regional development, this discussion aims to equip participants with insights crucial for informed decision-making. Join Neethling van Heerden (Tax Director at WTS Global ), Adrian Dommisse (Director & Founder of Dommisse Attorneys Inc.), Moshie Ratsebe (Director, Investment Promotion at Botswana Investment and Trade Centre), Hendri Herbst (Tax Specialist at WTS Global) and Jan Jurie Fourie (Executive Vice President - Sub Sahara Africa at Scatec ASA) to unravel the intricate tapestry of investing in African projects, offering insights that can guide and empower both seasoned investors and those exploring opportunities on the continent. Organised by BrightWolves South Africa and Brussels-Africa Hub, this is your chance to be part of an event that will continue to strengthen the ties between Europe and Africa, and encourage impactful, sustainable and responsible investment in Africa. Topics will range from 𝐦𝐞𝐚𝐬𝐮𝐫𝐢𝐧𝐠 & 𝐫𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐨𝐧 𝐢𝐦𝐩𝐚𝐜𝐭, 𝐭𝐨 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐚𝐧𝐝 𝐭𝐡𝐫𝐞𝐚𝐭𝐬 𝐨𝐟 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐀𝐟𝐫𝐢𝐜𝐚, and clean and affordable energy 📈 Tickets are limited – book your seat at this exclusive summit today: https://lnkd.in/d9NW5ybd ✨ #EAIIS2023 #impactinvesting

JAPAN-AFRICA BUSINESS FORUM On 18 June 2024, the African Development Bank and the Japan Corporate Executives Association held the Japan-Africa Business Forum in Tokyo under the theme "Exploring Investment Risks in Africa: Unlocking Real Potential and Challenges", the Japan-Africa Business Forum was held in Tokyo. 📍 Important: Aspirations and goals were expressed at this conference. When the Tokyo International Conference on African Development (TICAD 9) is held in Japan in 2025, real business links will be concretised. 🎯 What is the main content of this business forum? Independent of many business forums, Japan has shown a direct focus on "green infrastructure" projects. At the broadest scale, it is orientated towards the protection and restoration of natural landscape elements such as forests, flood plains and wetlands, which are important components of stormwater infrastructure. This will be an important project for Africa. It will also contribute to the development of the agricultural sector in the long term. #Sarenolia #Colonialism #ConstructionPolicies #GlobalConstructionPolicies #AfricanUnion #AfricanCommunity #VedatÖzkan #Africa #Japan #BusinessForum #Energy #Investments #GreenInfrastructure #GreenEnergy #TICAD9 

🌍🤝 New Era of EU-Africa Cooperation: Unlocking Infrastructure Investments through the Global Gateway Initiative 🚀 The European Commission (EC) and the African Development Bank Group have just signed a historic Financial Framework Partnership Agreement! 📜✍️ #EUAFRICA #Partnership 🔗 This marks a new chapter in EU-Africa relations, focusing on developing robust infrastructure projects across the African continent. The European Union's contribution, a staggering €972 million, is set to increase following this agreement. 🌉🔋 #GlobalGateway #InfrastructureDevelopment Key Highlights: European Commission President Ursula von der Leyen and African Development Bank Group President Dr Akinwumi Adesina signed the agreement. 🌐👥 It aligns with the EU's Global Gateway strategy, aiming to foster sustainable and trusted connections with partner countries. 🌿🌍 A whopping €150 billion will be invested in Africa through the Africa-EU Global Gateway Investment Package from 2021 to 2027. 💰🌍 #InvestInAfrica #SustainableDevelopment (and they aim to mobilize up to €300 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap) 🔊 As President von der Leyen stated, this partnership is set to launch a new era of cooperation, focusing on clean economies, skill promotion, job creation, and empowering the youth of Africa. 🌱🧑🎓👷♀️ President Adesina echoed these sentiments, emphasizing the transformative investments this partnership will bring, aligned with the African Development Bank Group's High 5 strategic priorities. 🖐️🌟 🚀 One of the flagship projects includes the development of the "Lobito Corridor", enhancing export capabilities and promoting mobility in Zambia, Angola, and the DRC. 🛣️🚢 #LobitoCorridor #TradeBoost This partnership is a testament to the shared vision and strategic alignment between the European Commission and the African Development Bank Group. It's not just about creating infrastructure; it's about building sustainable and resilient African economies. 🌱🌍💪 🔍 Learn more about the Global Gateway initiative, the EU's commitment to reducing investment disparities, and fostering smart, clean, and secure global connections. https://lnkd.in/dmQ5YGnJ #InfrastructureDevelopment #EUInvestment #AfricaDevelopment #SustainableFuture #InnovationInAfrica