Malnutrition and food insecurity are key challenges for many of Africa’s communities, and innovative solutions are needed to address this double-edged sword. The nutritional landscape in many regions on the African continent is complex. World Bank (https://apo-opa.co/4cGaEom) reports show that a significant number of children in the country suffer from stunted growth and anaemia, a direct result of poor nutrition.

It is, therefore, essential for food manufacturing businesses in Africa to take their responsibility by providing products with key nutrients that help address nutritional deficiencies among the population.

Meeting the population’s nutritional needs

Affordability is a critical factor in the fight against malnutrition and food insecurity.

For many communities, the cost of nutritious food is a barrier to achieving a balanced diet.

In Central and West Africa, NESTLÉ aims to provide children and adults alike with the essential nutrients they need for healthy growth and development.

“In 2022, Nestlé served consumers in our region with 89.5 billion servings of products fortified with at least one of the 4 main micronutrients we are deficient in (Iron, Iodine, Zinc, Vitamin A), to help them address the micronutrient deficiency gaps, particularly, iron deficiency. Our recent introduction of NIDO Milk&Soya in Nigeria is part of the company’s commitment to making better nutrition affordable and accessible across the region. This shows how affordability can be integrated into nutritional solutions, ensuring that essential nutrients are within reach for all, regardless of socioeconomic status’, – Salomé Azevedo, Business Executive Officer – Dairy, NESTLÉ Central&West Africa”.

Recognising that accessibility also influences affordability, NESTLÉ uses locally sourced soybeans for the manufacturing of NIDO Milk&Soya in Nigeria. In this way, the company does not only support local agriculture but also ensure that the product is readily available to consumers in the region. This localised approach to production and sourcing reduces transportation costs, lowering the price of the product for the end consumer.

A sustainable solution

Sustainability is at the heart of NESTLÉ’s operations. Supporting Nigerian farmers not only provides them with a steady source of income, but also reduces the environmental impact of dairy production. As NESTLÉ strives to meet its global target of reducing emissions by 20% by 2025, initiatives like these demonstrate that it is possible to achieve nutritional goals while remaining a responsible corporate citizen.

Distributed by APO Group on behalf of Nestlé.

Orion Minerals CEO Errol Smart will participate at the upcoming Critical Minerals Africa (CMA) Summit, taking place on November 6-7 in Cape Town. Smart is expected to speak on the Australian mining firm’s role in advancing the energy transition minerals industry in South Africa, as well as identify strategic areas for further investment.

In South Africa, Orion Minerals is undertaking a series of exploration and infrastructure development initiatives to achieve its target of first copper sales by 2025. Earlier this month, the company discovered high-grade copper deposits at the Flat Mines area of the Okiep Copper Project in Northern Cape Province. Orion Minerals is conducting a feasibility study to secure the funding required to initiate mine development. With up to 9.4 million tons at 1.3% copper reserves estimated at the Flat Mines, the project will consolidate South Africa’s position as a leading supplier of the essential mineral.

CMA 2024 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (https://AECWeek.com) on November 4 – 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Last month, Orion Minerals secured R43.7 million (US$2.4 million) from South Africa’s Industrial Development Corporation to acquire a controlling stake in the Okiep Copper Project, supporting ongoing exploration and accelerating mine development towards the 2025 production goal. The company has also begun trial mining at its Prieska Copper Zinc Mine project in the Northern Cape, as part of efforts to fast-track the rollout of the 2.4 million metric tons per annum project.

Orion Minerals has shown a strong commitment to enhancing South Africa’s critical mineral value chain and increasing value-added activities. The company is conducting feasibility studies for the Jacomynspan Battery Metals Project, which aims to supply high-grade nickel-copper-cobalt-PGE-gold to the Stratega Metals Vapour Refining Project. The latter project is set to be South Africa’s first refinery facility for battery materials. At CMA 2024, Smart will participate in high-level panel discussions that highlight the company’s project portfolio, investment strategy and partnership opportunities going forward.

Distributed by APO Group on behalf of Energy Capital&Power.

The African Development Bank Group (www.AfDB.org) and the Japan International Cooperation Agency (JICA) have underscored the critical need for blended and innovative finance mechanisms to back Africa’s efforts to tackle climate change. In a meeting held in Tokyo on 20 June 2024, both sides agreed that providing more productive concessional lending to African governments is only part of the solution and stressed the importance of domestic resource mobilisation and building institutional debt management capacity as well.

The talks, part of an African Development Bank delegation’s engagements, brought together top executives from both institutions to review their joint Enhanced Private Sector Assistance (EPSA) initiative (http://apo-opa.co/4clRMvf). It also provided an opportunity for the two institutions to prepare for the 9th Tokyo International Conference on African Development (TICAD9) Summit in Yokohama in August 2025.

JICA (http://apo-opa.co/4eD2m2i) is an incorporated administrative agency in charge of administering Japan’s overseas development assistance  (ODA) focused on providing bilateral aid to developing countries through grants, loans and technical assistance.

The Bank Group delegation, led by Vice President for Power, Energy, Climate&Green Growth Kevin Kariuki, included Vice President for Private Sector, Infrastructure&Industrialisation, Solomon Quaynor, and Chief Economist and Vice President for Economic Governance&Knowledge Management, Kevin Urama. At the meeting were JICA executives, including Senior Vice Presidents Naoki Ando, Sachiko Imoto, Masao Yahara, Kenichi Kawamura and Shohei Hara; Director General of the Africa Department Naoki Yanase; Director General for Middle East and Europe Kei Toyama, Director General of Credit Risk Analysis and Environmental Review Department Suguru Miyazaki; Deputy Director General of the Africa Department Kumiko Uchida, and Masahiro Juraku, Director for Private Sector Investment Finance Division 2.

A key focus of the discussions was the progress towards the EPSA 5 target of mobilising $5 billion between 2023-2025, with priority investments in electricity, health, connectivity, and agriculture. They also reviewed the progress on co-financed projects including in Nigeria, Mauritania, and Morocco, recognizing the importance of innovative financing mechanisms in addressing environmental challenges.

Kariuki highlighted the Bank’s Climate Action Window (http://apo-opa.co/4cnHlr0) as a potential co-financing opportunity for JICA.

Addressing Africa’s debt management concerns, JICA Senior Vice President Naoki Ando emphasized the need for a broader range of public  finance management capacity building, and more productive concessional finance for African governments. Urama highlighted the Bank’s efforts to build debt management capacity in countries like Mozambique, Zambia, and Zimbabwe, including its Public Financial Management Academy program.

The African Development Bank showcased its focus areas in private sector development: industrialisation, enterprise development for SMEs, and youth-focused entrepreneurship, including its Youth Entrepreneurship Investment Banks initiative, launched to finance youth-led African businesses. JICA expressed interest in cooperation opportunities, particularly in Nigeria and Ethiopia.

Transport corridor development was another critical area, with discussions focusing on projects like the Lobito Corridor connecting Angola, DRC, and Zambia, and the Abidjan-Lagos Highway Corridor for which the Bank Group is supporting climate risk assessments to integrate adaptation measures such as sea walls. In response to a t Bank Group presentation of  its “smart corridor” concept, which leverages data and technology for efficient operations and urban planning,  JICA representatives  stressed that corridor development and urban development are closely linked.  JICA proposed to explore further collaboration on food security and industrial development to increase economic impacts of transport corridor development.

In the area of supply chain resilience and diversification, Bank leaders proposed synergies between the Bank Group’s country and regional integration strategy papers, and the Co-Creation for Common Agenda (http://apo-opa.co/4eKNuPu) Initiative of Japan’s Ministry of Foreign Affairs.

Looking ahead to TICAD9, JICA has established 15 working teams to explore strategic topics for consideration at the Summit, a proactive approach that underscores the importance of the event to both partners, and Africa’s economic development.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media Contact:
Olufemi Terry,
African Development Bank Group,
media@afdb.org

About the African Development Bank Group: 
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org  

Sahl, Egypt’s premier mobile bill payment app, recently attended Gitex Africa 2024 (www.GITEXAfrica.com), Africa’s largest and most renowned technology event. This milestone underscores Sahl’s commitment to showcasing its innovative solutions on a global stage and its role in transforming the financial landscape in Egypt and beyond.

At Gitex Africa 2024, Sahl connected with potential partners, investors, and customers, demonstrating its comprehensive range of services and cutting-edge technology. Sahl offers users unparalleled convenience, allowing them to pay bills for over 50 services, including electricity, gas, water, and mobile, through a single, easy-to-use platform. The app uses NFC technology, enabling users to recharge prepaid cards anytime and anywhere. Additionally, Sahl has introduced B2B product offerings to support utility services and payment acceptance for other companies, expanding its audience and impact.

Sahl is one of the few companies in Egypt directly integrated with several governmental entities, providing users seamless access to services from Egyptian Electricity Holding Co (EEHC), New Urban Communities Authority (NUCA) for water services, telecom operators (Vodafone, WE, Orange, and Etisalat), Petrotrade for gas services, Cable Network Egypt, and others. Furthermore, Sahl is the exclusive provider of NFC prepaid electricity meters in Egypt, serving 15 million households with prepaid electricity meters. Through the app, users can charge their meters and pay online, saving around 30 minutes per transaction by eliminating the need to visit a charging station.

In another significant development, Sahl has been selected to join the prestigious Visa Accelerator program. This program is designed to help innovative fintech startups scale their operations and enhance their technological capabilities. Through the Visa Accelerator program, Sahl will gain access to Visa’s vast network, resources, and expertise, accelerating its growth and expanding its service offerings.

Sahl has also successfully raised $6 million in Series A and seed funding, positioning itself as a one-stop shop for household bills in collaboration with government entities. The funding round was led by Ayady for Investment and Development, a prominent Egyptian investment firm known for supporting innovative startups. Joining Ayady in this investment are existing investors Egypt Pay, Delta Electronics, and E-Finance Investment Group, all of whom bring significant expertise and resources to the table.

“We are thrilled to have the support of esteemed investors as we continue our journey to revolutionize bill payments in Egypt,” said Abdullah Assal, Sahl CEO. “These developments will enable us to enhance our technology, expand our services, and reach more users, ultimately contributing to financial inclusion and digital transformation in the region.”

Sahl’s dynamic team of founders brings a wealth of experience and expertise to the company. CEO Abdullah Assal, with an MBA from Stanford and a background in leading Globaltronics, drives the company’s vision. CPO Ahmed Othman, known as Kika, leverages his product management and finance experience at CI Capital, to foster innovation. CTO Ibrahim Assal, with a rich background in software engineering from companies like Palantir, Careem, and Microsoft, ensures robust technological development.

Sahl is dedicated to digitizing utility payments in Egypt, driving the adoption of digital channels over traditional cash transactions. With a vision to build a comprehensive Super-app for financial management, Sahl is committed to delivering world-class financial services to its customers.

Distributed by APO Group on behalf of GITEX Africa.