AGP Executive Report
Last update: 12 hours agoBusiness Energy: Kenyan firms are turning to solar to cut power costs and improve reliability. Safaricom has installed systems at 2,028 base stations and aims for 5,000 by 2030; Simba Cement and Unilever Kenya have also invested in rooftop solar. Industrial Growth: Aliko Dangote says refinery, petrochemical and fertiliser expansion could employ more than 90,000 people in Lagos next year. The refinery aims to reach 1.4 million barrels a day, while plans include 20 fertiliser plants across Africa. Agribusiness: AgDevCo Ventures’ $3 million investment will help Uganda’s Newman Foods expand processing and buy from more than 3,000 smallholder farmers. In Mozambique, Merec Industries is building the north’s first pasta plant, with capacity to meet domestic demand and export surplus. Trade Finance: The African Development Bank approved a $200 million facility for Trade and Development Bank, expected to support more than $1 billion in transactions and widen access to trade credit. Clean Energy: Infinity Power and partners secured up to $127 million for an Egyptian solar-and-battery project expected to power about 310,000 homes and strengthen grid reliability. Telecoms: Vodacom’s profit rose 26%, with Safaricom gains boosting earnings.
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