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	<title>Second Eye, Author at Second Eye Africa</title>
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	<title>Second Eye, Author at Second Eye Africa</title>
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		<title>Shoprite retreats further into home turf as Ghana and Malawi exits loom</title>
		<link>https://secondeye.africa/641/shoprite-retreats-further-into-home-turf-as-ghana-and-malawi-exits-loom/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Fri, 08 Aug 2025 11:05:15 +0000</pubDate>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=641</guid>

					<description><![CDATA[<p>Shoprite Holdings, South Africa’s largest grocery chain, is retreating further from its pan-African ambitions with the planned sale of operations in Ghana and Malawi, another step in its broader strategic consolidation to prioritise its home market. Once hailed as the continent’s top food retailer, outpacing rivals such as Pick n Pay and Walmart-owned Massmart across [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/641/shoprite-retreats-further-into-home-turf-as-ghana-and-malawi-exits-loom/">Shoprite retreats further into home turf as Ghana and Malawi exits loom</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="164" data-end="412">Shoprite Holdings, South Africa’s largest grocery chain, is retreating further from its pan-African ambitions with the planned sale of operations in Ghana and Malawi, another step in its broader strategic consolidation to prioritise its home market.</p>
<p data-start="414" data-end="799">Once hailed as the continent’s top food retailer, outpacing rivals such as Pick n Pay and Walmart-owned Massmart across 15 African countries, Shoprite’s expansion drive has increasingly stumbled on macroeconomic headwinds.</p>
<p data-start="414" data-end="799">Its operations in markets like Angola and Nigeria have been battered by currency volatility, soaring inflation, onerous import duties, and leases priced in dollars.</p>
<p data-start="801" data-end="1125">The group recently said it had signed a deal on June 6 to sell five stores in Malawi, subject to regulatory approval by the Competition and Fair Trading Commission and the Reserve Bank of Malawi.</p>
<p data-start="801" data-end="1125">In Ghana, it received a binding offer in June for seven stores and a warehouse, a transaction it considers “highly probable.”</p>
<p data-start="1127" data-end="1359">The exits mark a continuation of Shoprite’s retreat from several African markets, including Nigeria, Kenya, the Democratic Republic of Congo, Uganda, and Madagascar.</p>
<p>The post <a href="https://secondeye.africa/641/shoprite-retreats-further-into-home-turf-as-ghana-and-malawi-exits-loom/">Shoprite retreats further into home turf as Ghana and Malawi exits loom</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>Why Rwanda is becoming a go-to partner in US deportation policy</title>
		<link>https://secondeye.africa/638/why-rwanda-is-becoming-a-go-to-partner-in-us-deportation-policy/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Thu, 07 Aug 2025 07:23:06 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Rwanda]]></category>
		<category><![CDATA[US]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=638</guid>

					<description><![CDATA[<p>Rwanda is once again positioning itself as a reliable partner for Western powers, this time by agreeing to take in deportees from the United States. Under a deal signed in June, the East African nation will receive an initial group of 250 individuals, with the possibility of expanding that number by mutual agreement, Reuters reports. [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/638/why-rwanda-is-becoming-a-go-to-partner-in-us-deportation-policy/">Why Rwanda is becoming a go-to partner in US deportation policy</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="243" data-end="579">Rwanda is once again positioning itself as a reliable partner for Western powers, this time by agreeing to take in deportees from the United States.</p>
<p data-start="243" data-end="579">Under a deal signed in June, the East African nation will receive an initial group of 250 individuals, with the possibility of expanding that number by mutual agreement, <em data-start="561" data-end="570">Reuters</em> reports.</p>
<p data-start="581" data-end="894">The arrangement is part of Washington’s broader strategy to outsource elements of its migration enforcement, reviving a “safe third country” model that gained traction under the Trump administration. In exchange, African countries are offered concessions such as softer visa policies or increased development aid.</p>
<p data-start="896" data-end="1223">Rwanda’s government says it will screen each case before accepting individuals, and will provide housing, workforce training, and healthcare to help them resettle. The US will fund the program through an unspecified grant. The agreement excludes deportees with unresolved prison sentences or convictions for child sex offences.</p>
<p data-start="1225" data-end="1584">This isn’t the first time Rwanda has played host to deportees. It previously signed a controversial migration pact with the UK.</p>
<p data-start="1225" data-end="1584">The US deal arrives as Kigali also deepens its diplomatic credentials, having recently signed a peace accord with the Democratic Republic of Congo, in a US-brokered attempt to ease long-simmering tensions in the Great Lakes region.</p>
<p>The post <a href="https://secondeye.africa/638/why-rwanda-is-becoming-a-go-to-partner-in-us-deportation-policy/">Why Rwanda is becoming a go-to partner in US deportation policy</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>Orange taps OpenAI to build AI translators for African languages</title>
		<link>https://secondeye.africa/630/orange-taps-openai-to-build-ai-translators-for-african-languages/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Thu, 07 Aug 2025 06:00:21 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Tech]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=630</guid>

					<description><![CDATA[<p>After inking a deal with OpenAI, French telecom giant Orange is now set to deploy AI models for translating African languages—helping people across the continent communicate in their native tongues. Orange, operating in 18 African countries, secured access to OpenAI’s advanced models through a partnership signed last year. This week, OpenAI unveiled two new models, [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/630/orange-taps-openai-to-build-ai-translators-for-african-languages/">Orange taps OpenAI to build AI translators for African languages</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="145" data-end="343">After inking a deal with OpenAI, French telecom giant Orange is now set to deploy AI models for translating African languages—helping people across the continent communicate in their native tongues.</p>
<p data-start="345" data-end="731">Orange, operating in 18 African countries, secured access to OpenAI’s advanced models through a partnership signed last year.</p>
<p data-start="345" data-end="731">This week, OpenAI unveiled two new models, highlighting their ability to perform “advanced problem-solving” and offering organizations the flexibility to “run and customize AI on their own infrastructure.”</p>
<p data-start="733" data-end="938">Orange will integrate the models into its platforms to enhance local language communication and eventually plans to make its tailored AI tools freely available for governments to adapt for public services.</p>
<p>The post <a href="https://secondeye.africa/630/orange-taps-openai-to-build-ai-translators-for-african-languages/">Orange taps OpenAI to build AI translators for African languages</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>How taxing planes could help fund climate justice</title>
		<link>https://secondeye.africa/622/how-taxing-planes-could-help-fund-climate-justice/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Thu, 24 Jul 2025 08:58:14 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=622</guid>

					<description><![CDATA[<p>Proponents argue the gap in climate finance is growing too large to ignore, and taxing aviation could help narrow it. Alida Ban Pavlovic Efforts to mobilise fresh climate finance are circling back to aviation and shipping, as UN bodies and international organisations revisit old proposals with new urgency. The aviation industry, in particular, is once [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/622/how-taxing-planes-could-help-fund-climate-justice/">How taxing planes could help fund climate justice</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Proponents argue the gap in climate finance is growing too large to ignore, and taxing aviation could help narrow it.</p>
<p><b>Alida Ban Pavlovic</b></p>
<p>Efforts to mobilise fresh climate finance are circling back to aviation and shipping, as UN bodies and international organisations revisit old proposals with new urgency.</p>
<p>The aviation industry, in particular, is once again in the crosshairs. Ideas floated at recent climate summits include a levy on jet fuel, a frequent flyer tax, and charges targeting private aviation. But pushback has been swift, especially from the International Civil Aviation Organisation (ICAO), which sees these suggestions as a threat to its decades-long efforts to create a unified global approach to emissions.</p>
<p>Proponents argue the gap in climate finance is growing too large to ignore. More than $1.7 trillion went into clean energy investments in 2023. But according to Creon Butler of Chatham House, the global climate finance need stands at $8 trillion a year today—set to rise to $10 trillion annually after 2030.</p>
<p>Back in 2009, wealthy nations pledged to raise $100 billion annually to help developing countries respond to the climate crisis. That figure was overhauled at COP29 in Baku, where a new goal of $300 billion per year was set, potentially rising to at least $1.3 trillion annually by 2035.</p>
<p>It’s this shortfall that spurred the formation of the Global Solidarity Levies Task Force at COP28. The group—jointly led by France, Kenya, and Barbados—launched the Coalition for Global Solidarities to advocate for new climate funding solutions, with support from 17 countries, most from the Global South.</p>
<p>The urgency is particularly clear when it comes to adaptation. The United Nations Environment Programme estimates the global adaptation finance gap at between \$194 billion and \$366 billion a year. Current international public flows fall far short of that benchmark.</p>
<p>One major contributor to rising emissions is air travel. Passenger numbers are projected to more than double by 2050, a surge that will drive up fuel consumption and put pressure on emissions targets.</p>
<p>At COP29, the Global Solidarity Levies Task Force proposed a slate of funding mechanisms. Among them: a tax on aviation kerosene implemented by a “coalition of the willing,” a fuel levy on private jets, and a ticket surcharge targeting luxury flights or frequent flyers.</p>
<p>The logic is simple. Aviation fuel is often exempt from VAT and sales tax, leaving room for the sector to shoulder more of the climate finance burden. The Task Force’s report argued that taxing fossil fuels in aviation is one of the most efficient ways to price emissions and generate revenue—but warned that any plan would need to address fairness and competitive balance.</p>
<p>Modeling shows the potential upside. A €0.33 per litre global levy on jet fuel for international flights could raise around €18 billion ($19 billion) annually. A frequent flyer levy—starting at $9 for a second flight and climbing to $177 for a twentieth within the same year—could yield $121 billion each year.</p>
<p>Still, resistance remains. ICAO called the proposals “deeply concerning,” warning they could undermine the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), a system that took years to develop as a global market-based measure for aviation emissions.</p>
<p>CORSIA is designed to prevent a fragmented regulatory landscape by ensuring that emissions from international aviation are accounted for just once. ICAO’s position is that duplicative regional or national measures could unravel the consensus behind the scheme.</p>
<p>There’s also confusion around legal constraints. ICAO clarified that the Chicago Convention doesn’t prohibit all taxes on aviation fuel. What it bars is the taxation of fuel already onboard an aircraft. Taxes on fuel uptake remain legally viable.</p>
<p>The organisation has urged stakeholders to back CORSIA as the only global mechanism for managing international aviation’s carbon footprint. It views the system as a safeguard against a patchwork of regulations that could slow progress and increase complexity.</p>
<p>Despite the tensions, there are examples where aviation levies have worked. France’s Solidarity Levy—known as UNITAID—has been taxing air tickets since 2006, raising around €1 billion between 2006 and 2013 and €227 million annually since 2016. The funds go toward global health programs for HIV/AIDS, malaria, and tuberculosis, particularly in low-income countries.</p>
<p>Beyond aviation, global negotiations are underway that could shift the broader tax landscape. Talks on the UN Framework Convention on International Tax Cooperation are focusing on closing gaps that prevent many countries, especially in the developing world, from collecting revenues tied to the digital economy and cross-border activity.</p>
<p>The convention could also help align global tax regimes with environmental goals. Environmental taxes—targeting fossil fuel extraction, aviation, and shipping—are being discussed as tools that could help nations expand their tax base while tackling climate change.</p>
<p>The aim is to complete the convention and its protocols by 2027.</p>
<p>The International Institute for Sustainable Development has suggested that a global coalition could overcome current roadblocks at ICAO and begin negotiating more ambitious agreements. Such an approach, they argue, could also push improvements in aircraft fuel efficiency and speed up adoption of sustainable aviation fuels.</p>
<p>What remains is whether political will can match financial need. As climate targets tighten and the funding deficit grows, the real question may no longer be technical, but moral: can the world afford not to ask its most frequent flyers to help pay for its future?</p>
<p><b>Second Eye Africa<span class="Apple-converted-space"> </span></b></p>
<p>The post <a href="https://secondeye.africa/622/how-taxing-planes-could-help-fund-climate-justice/">How taxing planes could help fund climate justice</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>The rise of AI creates new fraud vulnerabilities for banks</title>
		<link>https://secondeye.africa/618/the-rise-of-ai-creates-new-fraud-vulnerabilities-for-banks/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Thu, 24 Jul 2025 08:23:25 +0000</pubDate>
				<category><![CDATA[Tech]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=618</guid>

					<description><![CDATA[<p>Banks are encouraging customers to adopt protective practices to keep themselves safe, emphasising the importance of not sharing personal or sensitive details such as usernames, passwords, OTPs, and even basic information like family names or dates of birth. By George Maracha There has been a noticeable rise in the level of fraud risk in Kenya, [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/618/the-rise-of-ai-creates-new-fraud-vulnerabilities-for-banks/">The rise of AI creates new fraud vulnerabilities for banks</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em>Banks are encouraging customers to adopt protective practices to keep themselves safe,</em><br />
<em>emphasising the importance of not sharing personal or sensitive details such as usernames,</em><br />
<em>passwords, OTPs, and even basic information like family names or dates of birth.</em></p>
<p style="text-align: left;">By George Maracha</p>
<p style="text-align: left;">There has been a noticeable rise in the level of fraud risk in Kenya, impacting numerous<br />
individuals and families. This increase is especially pronounced as many of us embrace the<br />
convenience of digital platforms and mobile banking. The rapid expansion of these technologies<br />
has led to the development of increasingly sophisticated fraud techniques, often exploiting the<br />
vulnerabilities created by our newfound digital connectivity.</p>
<p style="text-align: left;">Recent data from Concryt shows that Kenya, alongside Ethiopia, South Africa, and Nigeria,<br />
grapples with high levels of search activity related to Authorised Push Payment (APP) fraud.</p>
<p style="text-align: left;">This is particularly alarming, as a recent report from Kaspersky Africa indicated a staggering<br />
438 percent increase in fraud incidents in Kenya alone, with Nigeria and South Africa also<br />
experiencing significant rises.</p>
<p style="text-align: left;">These numbers reflect real pain points for many people, showing<br />
how rampant fraud can undermine the trust we place in digital transactions.</p>
<p style="text-align: left;">A troubling example of this shift occurred when AI-generated YouTube ads impersonated<br />
executives from a well-known investment firm in Kenya, leading unsuspecting viewers to<br />
deceptive links. This incident highlights just how vulnerable we all are, as cybercriminals—not<br />
necessarily local to us—can exploit our growing digital engagement to orchestrate scams that<br />
target our hard-earned savings.</p>
<p style="text-align: left;">In light of these escalating threats, the Kenyan banking sector has worked tirelessly to enhance<br />
security measures, implementing technologies like Chip and PIN to guard against card<br />
skimming and improve the safety of online transactions.</p>
<p style="text-align: left;">Additionally, the Kenya Bankers Association (KBA) launched the Kaa Chonjo campaign to educate the public on safe online practices. Since 2010, this initiative has aimed to empower individuals by sharing knowledge on<br />
how to protect their personal information in an increasingly digital world.</p>
<p style="text-align: left;">Despite these commendable efforts, the evolving tactics of cybercriminals mean that we must<br />
remain vigilant. They have moved beyond simple impersonation to more sophisticated social<br />
engineering schemes that can deeply manipulate individuals into revealing sensitive<br />
information. For instance, users may receive seemingly harmless messages, particularly around paydays, requesting assistance in ways that can lead to significant financial loss.</p>
<p style="text-align: left;">We must also be increasingly aware of tactics like phishing, where attackers disguise their requests under the appearance of trusted businesses or contacts. Baiting incidents are also on<br />
the rise, as enticing offers lure unsuspecting individuals to click on harmful links, often leading to<br />
heart-wrenching consequences.</p>
<p style="text-align: left;">As we navigate this complex digital landscape, it is vital for both individuals and businesses to<br />
stay informed about the potential risks of cyber fraud. Impersonation remains a deceptive tactic<br />
that can create significant stress; fraudsters often pose as friends or colleagues, chipping away<br />
at the trust we have built with those around us.</p>
<p style="text-align: left;">In response to the rising prevalence of these social engineering scams, many Kenyan lenders<br />
are proactively enhancing financial literacy among their customers. Through events like</p>
<p style="text-align: left;">International Fraud Awareness Week, they aim to raise awareness about common scams,<br />
including impersonation calls, fraudulent SMS, and misleading emails that request sensitive<br />
information.</p>
<p style="text-align: left;">Banks are encouraging customers to adopt protective practices to keep themselves safe,<br />
emphasising the importance of not sharing personal or sensitive details such as usernames,<br />
passwords, OTPs, and even basic information like family names or dates of birth. They have also<br />
stressed the need for caution when clicking on unfamiliar links or downloading attachments from<br />
unknown sources.</p>
<p style="text-align: left;">While the threat of fraud poses considerable challenges, it serves as a reminder of the need for<br />
unity and collaboration within the financial sector. By working together and sharing information,<br />
bankers can create a more secure environment for growth and trust.</p>
<p style="text-align: left;">As the complexity and scale of cyber-attacks continue to evolve, especially with innovations like<br />
AI-generated deepfakes, it is crucial for bankers to adapt their strategies and strengthen<br />
relationships with customers.</p>
<p style="text-align: left;">Our commitment is to proactively inform customers about<br />
suspicious activity and support them in identifying genuine bank representatives, ultimately<br />
helping everyone feel secure as they navigate the digital economy together. Your safety and<br />
trust are our top priorities, and we are here to stand by you during these challenging times.</p>
<p style="text-align: left;"><strong>Head of Forensics, Fraud and Physical Security at Absa Bank Kenya PLC</strong></p>
<p>The post <a href="https://secondeye.africa/618/the-rise-of-ai-creates-new-fraud-vulnerabilities-for-banks/">The rise of AI creates new fraud vulnerabilities for banks</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>African startups haul in $1.4 billion in first half of 2025 as venture funding rebounds</title>
		<link>https://secondeye.africa/612/african-startups-haul-in-1-4-billion-in-first-half-of-2025-as-venture-funding-rebounds/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Thu, 03 Jul 2025 16:43:28 +0000</pubDate>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Tech]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=612</guid>

					<description><![CDATA[<p>After a muted 2024, Africa’s startup ecosystem is showing real signs of momentum in 2025, with fresh funding figures confirming a strong rebound. Seth Onyango, Second Eye Africa  African startups have surged past expectations in the first half of 2025, raising over $1.4 billion in deals exceeding $100,000 — a striking rebound from the slower [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/612/african-startups-haul-in-1-4-billion-in-first-half-of-2025-as-venture-funding-rebounds/">African startups haul in $1.4 billion in first half of 2025 as venture funding rebounds</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em>After a muted 2024, Africa’s startup ecosystem is showing real signs of momentum in 2025, with fresh funding figures confirming a strong rebound.</em></p>
<p><strong>Seth Onyango, Second Eye Africa </strong></p>
<p>African startups have surged past expectations in the first half of 2025, raising over $1.4 billion in deals exceeding $100,000 — a striking rebound from the slower pace of 2024.</p>
<p>Buoyed by a robust $365 million haul in June alone, the continent’s venture capital activity is proving that last year’s funding freeze may well be behind it.</p>
<p>June’s milestone marks the strongest monthly performance in nearly a year and seals a promising H1 for Africa’s startup ecosystem.</p>
<p>Monthly funding has consistently exceeded $250 million on four occasions this year, with a monthly average of $237 million — up from $133 million in H1 2024 and $187 million across all of 2024.</p>
<p>This 78% year-over-year increase underscores the ecosystem’s accelerated momentum and places H1 2025 on par with H2 2024, despite a modest 1.5% dip.</p>
<p>Equity funding saw a healthy climb with $950 million raised, significantly outpacing the $531 million recorded in H1 2024.</p>
<p>Debt financing also saw a rebound, closing at $400 million, up 55% year-over-year, thanks largely to June’s explosive $227 million in debt deals, including $137 million raised by Wave, the highest monthly debt total in more than two years.</p>
<p>After a protracted chill in Africa’s venture capital (VC) activity, the continent’s startup scene had already begun showing strong signs of revival earlier in the year.</p>
<p>Mega deals in the period helped restore momentum. South African healthtech hearX merged with U.S.-based Eargo in a $100 million transaction, while Egyptian fintech Bokra issued a $59 million sukuk, and Stitch raised $55 million from existing investors.</p>
<p>Exits have also been active, with Egypt’s ADVA acquired by Maseera (UAE), Nigerian firm Bankly taken over by C-One Ventures, and Peach Payments of South Africa acquiring PayDunya to expand into Francophone West Africa.</p>
<p>From January to April, startups raised $803 million across 163 deals, a 43% rise over the same period last year. Notably, at least 225 unique investors participated in deals over $100,000, signalling broader engagement across the ecosystem.</p>
<p>The end of 2024 laid the groundwork for this surge. Unicorn announcements from Moniepoint and Tyme Group reignited interest, while more diverse capital sources—including Middle Eastern and Asian investors—began flowing into the continent’s tech sector.</p>
<p>With robust numbers and a diversified investor base, African startups appear poised for sustained growth across fintech, healthtech, agritech, renewables, and e-commerce. The freeze may be over—and this time, the warmth seems here to stay.</p>
<p><strong>SEA</strong></p>
<p>The post <a href="https://secondeye.africa/612/african-startups-haul-in-1-4-billion-in-first-half-of-2025-as-venture-funding-rebounds/">African startups haul in $1.4 billion in first half of 2025 as venture funding rebounds</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>Africa’s green bond market surges despite punishing financing costs</title>
		<link>https://secondeye.africa/606/africas-green-bond-market-surges-despite-punishing-financing-costs/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Wed, 02 Jul 2025 16:05:40 +0000</pubDate>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Climate]]></category>
		<guid isPermaLink="false">https://secondeye.africa/?p=606</guid>

					<description><![CDATA[<p>Africa’s green bond market, long considered peripheral, is beginning to gain traction as governments across the continent tap into climate-linked debt to finance adaptation and resilience projects. Alida Ban Pavlovic, Second Eye Africa Africa’s green bond market, though still a fractional segment of the global total, is witnessing explosive growth as nations seek capital for [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/606/africas-green-bond-market-surges-despite-punishing-financing-costs/">Africa’s green bond market surges despite punishing financing costs</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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										<content:encoded><![CDATA[<p>Africa’s green bond market, long considered peripheral, is beginning to gain traction as governments across the continent tap into climate-linked debt to finance adaptation and resilience projects.</p>
<p><b>Alida Ban Pavlovic, Second Eye Africa</b></p>
<p>Africa’s green bond market, though still a fractional segment of the global total, is witnessing explosive growth as nations seek capital for climate-resilient projects, despite facing punishing borrowing costs reflective of the continent’s risk profile.</p>
<p>Though still a small player globally, the continent is showing signs of momentum as governments turn to climate-friendly debt to fund adaptation projects.</p>
<p>Last year, green bond issuances across Africa more than doubled, jumping 125% from the previous year, according to data from the Africa Policy Research Institute. That’s despite persistent barriers like high borrowing costs and a shortage of investor-ready projects.</p>
<p>In total, African issuers accounted for just $5 billion of the $2.2 trillion global green bond market in 2023. But analysts say the recent uptick should be treated as a shift and not necessarily a spike.</p>
<p>Investor activity is gaining remarkable momentum. Johannesburg pioneered African green bonds in 2014 with a $140 million municipal offering.<span class="Apple-converted-space"> </span></p>
<p>Nigeria followed as the first sovereign issuer with $30 million in 2017 and $41 million in 2019. The West African nation recently priced new green debt at 19 percent interest, with proceeds earmarked for renewable energy, eco-housing, and conservation projects.</p>
<p>East Africa entered the market through Kenyan developer Acorn Holdings, raising over $40 million in 2019 for sustainable student accommodation.<span class="Apple-converted-space"> </span></p>
<p>Tanzania’s CRDB Bank secured $300 million last year for renewable energy and water infrastructure, while Ivory Coast achieved the continent’s largest single issuance with a $1.5 billion offering.</p>
<p>The cost of capital remains a critical hurdle, with Nigeria’s 19% yield contrasting starkly with France’s 3 percent rate for equivalent green debt, according to France 24.<span class="Apple-converted-space"> </span></p>
<p>Market analysts attribute this punishing premium to currency volatility, persistent inflation, political uncertainty, and what Nairobi-based nonprofit FSD Africa identifies as &#8220;a shortage of bankable green projects.&#8221;<span class="Apple-converted-space"> </span></p>
<p>Governments must consequently offer substantial risk incentives to attract investors. These instruments function as sovereign bonds where proceeds exclusively fund environmental initiatives. Investors receive interest on loans directed toward clean energy, conservation, and other climate-aligned projects.</p>
<p><b>Credibility Concerns Shadow Expansion</b></p>
<p>Global green bond leadership remains concentrated with major polluters China and the United States as they fund energy transitions – a dynamic Nigerian environmental law expert Alex Oche notes is unsurprising &#8220;given that they are carbon-intensive economies who have contributed more in the global climate crisis.”</p>
<p>Still, Africa faces disproportionate climate impacts despite contributing just four percent of global emissions. Project integrity concerns persist among researchers who cite instances of &#8220;greenwashing.&#8221;<span class="Apple-converted-space"> </span></p>
<p>Razaq Fatai of Nigerian consultancy Vestance pointed to a reforestation project in Oyo state where exclusion of local communities allegedly caused mass sapling die-offs. &#8220;You end up wasting public resources while owing debt interest,&#8221; Fatai warned in an interview with France24.</p>
<p>Lagos law firm Udo Udoma &amp; Belo-Osagie, which identifies Nigeria as a continental leader, stresses that unlocking Africa’s green bond potential demands &#8220;stronger regulatory frameworks, better project pipelines, capacity-building for issuers and enhanced investor confidence.”</p>
<p>The firm concluded with cautious optimism: &#8220;The future of green bonds in Africa and globally is promising, but it will depend heavily on credibility, innovation and inclusive growth.&#8221;<span class="Apple-converted-space"> </span></p>
<p>As climate pressures intensify, the continent’s ability to transform rapid market growth into verifiable environmental impact will face increasing scrutiny.</p>
<p>Meanwhile, emissions trading is increasingly becoming an effective market instrument for reducing emissions of CO2 and other greenhouse gases.</p>
<p>Businesses that cut their emissions can sell their excess carbon credits to other firms whose emissions have increased, thus commoditising carbon and creating a market.</p>
<p>It follows a historic deal at the UN climate talks in Baku last November that approved quality standards for carbon credits and cleared the path for a global carbon market to fund emissions-reduction projects.</p>
<p>The strategic shift follows high-level EU policy developments, including recent meetings between Econetix, EU Climate Commissioner Wopke Hoekstra, and Austrian Climate Minister Norbert Totschnig to formalise carbon removal markets under the EU’s 2040 framework.</p>
<p>The EU is preparing to operationalise its Carbon Removal Certification Framework (CRCF) as part of its roadmap to cut emissions by 90% by 2040, elevating permanent CO₂ removals from a theoretical side note to a central pillar of climate action.</p>
<p>In 2022, Kenya was looking to attract more than $2 billion worth of investments through the NIFC over the next eight years, with Nairobi now joining Casablanca (Morocco), Cape Town (South Africa), and Port Louis (Mauritius), and Johannesburg as IFCs on the continent.</p>
<p>NIFC CEO Oscar Njuguna has said he is upbeat about the potential for the carbon exchange to spur climate finance in Kenya by establishing a locally accessible marketplace for carbon offsets.</p>
<p>In that East African state, the companies lining up to utilise the carbon exchange include power generator KenGen, Koko Networks, Mumias, and other smaller companies and farmers.</p>
<p>“Investments in clean green infrastructure are fundamental to Kenya’s continued prosperity and growth,” said Jane Marriott OBE, British High Commissioner to Kenya.</p>
<p>ACX securitises carbon credits around market demand, allowing traders to gain exposure to an asset class as opposed to individual projects. Every token is backed by one tonne of CO2 equivalent (tCO2e) and the credit sits in the<br />
Exchange’s Trust.</p>
<p>The Capital Market’s Authority chair Nick Nesbit told Business Hub the move was an opportunity to grow trust in the market and to build a culture of ESG (Environmental and Social Governance) amongst regional companies.</p>
<p>“We are driving trust utilising technology and trying to ensure really robust mechanisms to ensure that businesses abide by ESG in Kenya,” he said.</p>
<p>Kenya is among the top providers of climate finance in Africa alongside South Africa and Nigeria. The country’s first-ever green bonds were issued by Acorn Holdings in 2019. That issue was oversubscribed.</p>
<p><b>SEA</b></p>
<p>The post <a href="https://secondeye.africa/606/africas-green-bond-market-surges-despite-punishing-financing-costs/">Africa’s green bond market surges despite punishing financing costs</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>Cautious stability drives Libya’s post-Gaddafi investment blitz Across Africa</title>
		<link>https://secondeye.africa/602/cautious-stability-drives-libyas-post-gaddafi-investment-realignment-across-africa/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Wed, 02 Jul 2025 10:41:57 +0000</pubDate>
				<category><![CDATA[Markets]]></category>
		<category><![CDATA[News]]></category>
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					<description><![CDATA[<p>&#160; As political calm starts to settle in Libya, the country’s sovereign wealth fund is repositioning itself across Africa, reshaping its investment playbook to focus on high-yield, growth-driven sectors in a bid to reignite its economic influence. Second Eye Africa Amid a fragile but promising calm, Libya is reactivating its sovereign wealth strategy, reengaging with [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/602/cautious-stability-drives-libyas-post-gaddafi-investment-realignment-across-africa/">Cautious stability drives Libya’s post-Gaddafi investment blitz Across Africa</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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										<content:encoded><![CDATA[<p>&nbsp;</p>
<p><em>As political calm starts to settle in Libya, the country’s sovereign wealth fund is repositioning itself across Africa, reshaping its investment playbook to focus on high-yield, growth-driven sectors in a bid to reignite its economic influence.</em></p>
<p><strong>Second Eye Africa</strong></p>
<p>Amid a fragile but promising calm, Libya is reactivating its sovereign wealth strategy, reengaging with a broad African investment portfolio that had been left dormant through years of political chaos.</p>
<p>With civil unrest having frozen the operations of the $67 billion Libyan Investment Authority (LIA) for years, a slow recovery is now allowing the fund to breathe new life into assets long-held across the continent.</p>
<p>Spearheading this revival is the Libyan African Investment Company (Laico), a key LIA subsidiary, which has begun trimming underperformers while revamping core holdings in pursuit of profitability.</p>
<p>Laico is now actively courting international partners to revive its once-dominant presence in sectors like hospitality, energy, and telecommunications—pillars of Libya’s former economic outreach.</p>
<p>Its newly updated digital presence outlines plans to “apply next-generation technologies to optimise operations” and “promote sustainable development.”</p>
<p>That includes updating assets from the Gaddafi era and chasing growth in emerging areas such as agritech and clean energy.</p>
<p>“Laico is engaged in a strategic overhaul, aimed at boosting the value of high-performing holdings while offloading unproductive ones,” it notes.</p>
<p>The strategy is increasingly reminiscent of Gulf-style investment diplomacy, with Tripoli taking cues from regional heavyweights like Saudi Arabia and Qatar to pivot from oil dependency to diversified growth.</p>
<p>The LIA, long hamstrung by sanctions and internal conflict, is most widely recognised for its historical equity in landmark infrastructure ventures—including Kenya’s Ola Energy and Johannesburg’s iconic Michelangelo Hotel.</p>
<p>Its recent moves, however, suggest a sharpened business instinct, following a more commercially focused model akin to those of Gulf sovereign funds seeking regional influence through capital deployment.</p>
<p>A more stable government in Tripoli is creating room to re-enter key markets, especially in hospitality and tourism, where Libya retains substantial equity.</p>
<p>In a bold move, Laico’s Ensemble Hotel Holdings has gone to court in South Africa, seeking to force the sale of Legacy Hotels—a luxury brand with 19 properties—positioning Libya for its most aggressive post-sanctions acquisition yet.</p>
<p>That ambition dovetails with the broader repositioning of Ola Energy (formerly OilLibya), which now operates 3,000+ fuel outlets in 17 countries spanning North, West, Central and East Africa—putting it head-to-head with giants like TotalEnergies and Shell.</p>
<p>Laico’s diversified portfolio spans 27 African nations, managing 20 hotels and two resorts offering more than 3,500 rooms.</p>
<p>Meanwhile, a US$300 million oil pipeline in Uganda—frozen for over a decade due to contract disputes—is seeing renewed momentum as diplomatic relations improve.</p>
<p>The company’s website underscores a shift in revenue strategy: “We are expanding beyond hospitality to reduce exposure and tap into high-growth areas like agriculture, fintech, and clean energy.”</p>
<p>This push is powered by the extensive African footprint Libya established under Gaddafi’s pan-African investment strategy.</p>
<p>Examples abound: Laico helped fund Chad’s Kempinski N’Djamena hotel and telecom operator SOTEL. In Mali, the long-paused Malibya agribusiness project—spanning 100,000 hectares—is being cautiously revived.</p>
<p>In Guinea-Bissau, Libya has four cashew processing plants and a luxury hotel. In Gabon, it owns a controlling 52% share in Africa N°1, a Pan-African radio station with an audience of 20 million.</p>
<p>Zimbabwe’s CBZ Bank counts Libya Foreign Bank as a 14% shareholder. In Niger, Libya backs major hotels and religious infrastructure. In Rwanda, following the 2011 collapse of Rwandatel, Laico has pivoted to investing in data centres.</p>
<p>Laico describes its approach as “capitalising on its broad African presence to uncover trade and business prospects.”</p>
<p>Among newer ventures is a push to draw investors into Rascom Star-Qaf, a satellite firm delivering telecom and broadband across the continent.</p>
<p>In Mozambique, Laico’s subsidiary Lap Ubuntu.SA runs a 20,000-hectare rice and milling project aimed at enhancing food production and rural livelihoods.</p>
<p>To shed its outdated image, Laico has polished its investor pitch. The company now promotes blockchain-traced supply chains and AI-integrated dashboards to appeal to innovation-focused markets in Lagos and Cape Town.</p>
<p>In Senegal and Tanzania, Ola Energy is trialling solar-powered microgrids. The Laico Regency Hotel in Nairobi, acquired in 2008, has become a nerve centre for regional deal-making.</p>
<p>Still, Libya’s resurgence is not without obstacles. The country’s internal divisions—particularly the ongoing tug-of-war between Tripoli and the eastern factions—continue to cloud investor confidence.</p>
<p>“There’s a real concern that the sudden deal activity may be driven by short-term brokerage interests rather than a coherent long-term strategy,” warns Aly-Khan Satchu, a financial analyst based in Nairobi.</p>
<p>Even so, Satchu sees the LIA as a heavyweight contender: “They have deep financial reserves. Optimising the portfolio is long overdue, and if executed properly, Libya could easily reclaim its stature as a top-tier investor across the continent.”</p>
<p>Cross-border risks linger, with Uganda’s pipeline contract dispute serving as a cautionary tale. But the LIA is pressing ahead, riding on the back of Africa’s forecasted 4% economic expansion this year.</p>
<p><strong>SEA</strong></p>
<p>The post <a href="https://secondeye.africa/602/cautious-stability-drives-libyas-post-gaddafi-investment-realignment-across-africa/">Cautious stability drives Libya’s post-Gaddafi investment blitz Across Africa</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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		<title>Maternal deaths in Africa fall by 40%, but progress uneven</title>
		<link>https://secondeye.africa/598/maternal-deaths-in-africa-fall-by-40-but-progress-uneven/</link>
		
		<dc:creator><![CDATA[Second Eye]]></dc:creator>
		<pubDate>Wed, 02 Jul 2025 10:27:01 +0000</pubDate>
				<category><![CDATA[Women]]></category>
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					<description><![CDATA[<p>Maternal mortality across Africa has dropped significantly over the past two decades, with new figures from a United Nations-led report calling it one of the most meaningful public health achievements since records began. According to a joint study by the World Health Organization and several UN agencies, Africa’s maternal mortality ratio declined from 748 per [&#8230;]</p>
<p>The post <a href="https://secondeye.africa/598/maternal-deaths-in-africa-fall-by-40-but-progress-uneven/">Maternal deaths in Africa fall by 40%, but progress uneven</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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										<content:encoded><![CDATA[<p>Maternal mortality across Africa has dropped significantly over the past two decades, with new figures from a United Nations-led report calling it one of the most meaningful public health achievements since records began.</p>
<p>According to a joint study by the World Health Organization and several UN agencies, Africa’s maternal mortality ratio declined from 748 per 100,000 live births in 2000 to 454 in 2023 — equivalent to about 3 million fewer deaths over that 23-year period.</p>
<p>The WHO attributes this decline to growing access to trained birth professionals, better health infrastructure, and targeted interventions in handling pregnancy-related complications.</p>
<p>Major investment in sexual and reproductive health has also played a crucial role, with wider implementation of the WHO’s Ending Preventable Maternal Mortality (EPMM) framework contributing to these improvements.</p>
<p>Notably, skilled attendance at birth has risen to 65% — up from just 44% in 2000 — a development the report credits as a key driver of the decline in fatal outcomes from haemorrhage and infection, the two leading causes of maternal death.</p>
<p>The report also highlights the importance of political will and stronger referral networks, which have enabled more women to access care that can make the difference between life and death.</p>
<p>Still, UNICEF’s Executive Director Catherine Russell has cautioned that reductions in global health funding, especially from the United States, threaten to roll back some of these hard-fought gains — particularly in fragile or underserved regions.</p>
<p>&#8220;Slashing global health budgets risks pushing more women into danger during pregnancy and childbirth, especially where basic care is already scarce,&#8221; she said.</p>
<p>Regionally, East Africa has made the biggest leap, slashing maternal deaths by over 60%, from 75,000 in 2000 to 42,000 by 2023 — an annual drop of 4.8%, thanks to wider access and policy support in countries such as Kenya and Ethiopia.</p>
<p>North Africa follows with a 57.9% drop, cutting deaths from 11,000 to 5,900 — largely due to improved prenatal services. Central Africa tells a more complex story: while its maternal mortality ratio fell by 43.2%, overall deaths rose from 32,000 to 34,000, a result of population growth outpacing health improvements.</p>
<p>In Southern Africa, maternal mortality declined by 31.5%, but the relatively slow annual progress rate of 2.6% underscores persistent rural healthcare gaps.</p>
<p>West Africa remains a key area of concern. Despite a 25.3% reduction in the ratio, the region still registered a rise in total maternal deaths — reaching 102,000 in 2023, the highest on the continent — as countries like Nigeria and Ghana continue to grapple with overstretched health systems.</p>
<p>Globally, 2023 saw more than 260,000 women lose their lives due to pregnancy-related complications — an average of 712 deaths per day, or one every two minutes. This equates to a global maternal mortality ratio of 197 per 100,000 live births, across 195 nations.</p>
<p>HIV-related maternal deaths, which once represented a significant burden, have also declined dramatically. Thanks to broader access to antiretroviral treatment and integrated prenatal care, such deaths have dropped by 89% since 2000 and now make up less than 1% of maternal deaths in the region. Countries like Eswatini and Botswana, which embedded HIV services into maternal health systems, saw some of the sharpest declines.</p>
<p>Nonetheless, Africa remains the hardest-hit region, accounting for nearly 70% of maternal deaths globally — approximately 182,000 in 2023 — followed by Southern Asia, with around 17% (43,000 deaths).</p>
<p>The progress remains uneven. Nine countries — including South Sudan, Chad, and Nigeria — continue to record extremely high maternal mortality ratios, exceeding 500 deaths per 100,000 births.</p>
<p>Nigeria stands out with an MMR of 993 and accounts for nearly 29% of all maternal deaths on the continent. This points to a combination of structural weaknesses in healthcare, insecurity, and persistent cultural barriers.</p>
<p>“While progress is evident in several regions, fragile contexts and conflict zones continue to reverse hard-won gains,” the report cautions.</p>
<p>Countries labelled as fragile or conflict-affected by the World Bank — such as Somalia and the Democratic Republic of Congo — showed slower improvements. In some of these countries, women face a 1 in 51 lifetime risk of dying from pregnancy-related causes, more than twice the global average.</p>
<p>The pandemic also disrupted maternal health services temporarily, with global MMR rising in 2021. Africa, however, managed to restore its pre-COVID trajectory by 2022, a feat credited to quick recovery of prenatal and postnatal services.</p>
<p><strong>SEA</strong></p>
<p>The post <a href="https://secondeye.africa/598/maternal-deaths-in-africa-fall-by-40-but-progress-uneven/">Maternal deaths in Africa fall by 40%, but progress uneven</a> appeared first on <a href="https://secondeye.africa">Second Eye Africa</a>.</p>
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