At the EU-Egypt Investment Conference in Cairo the European Investment Bank today confirmed support for a new USD 350 million regional private sector investment fund managed by SPE Capital. The new business investment is expected to help create over 10,000 new skilled jobs, contributing to sustainable economic development across Egypt and the broader North African region. The fund will provide critical risk capital and managerial expertise to support the growth and internationalisation of local companies. “The EIB’s support for this fund underscores our dedication to fostering economic growth and job creation in Egypt and the region. The European Investment Bank is committed to fostering sustainable economic growth and job creation in North Africa.

A top US general has denied recent claims by Zimbabwean government officials that Washington is establishing a military base in neighboring Zambia and is supporting the country economically in a bid to isolate Zimbabwe within the region. General Michael Langley, head of US Africa Command, or AFRICOM, described as “absolutely false” Zimbabwe’s claims that the United States is setting up a military base in Zambia and wants to move AFRICOM operations there from Germany. We have no plans to put one there,” Langley said during an African Chiefs of Defense Conference in Botswana last week. However, Mnangagwa later said he did not call Zambia a security or a client state of the US in a conversation with Putin. “In other words, they want to pursue their foreign goals through a situation of misunderstanding and even conflict between two neighboring African states.”

Mamiki Matlawa, Group Business Development Executive at Actom spoke to ESI Africa about their cradle to grave services in the power and energy sector. Actom provides for the total lifecycle of electro-mechanical equipment. This interview took place at Enlit Africa 2024.

Nigerian startup Blueroomcare, an insurance-covered digital therapy service, has raised an undisclosed round of pre-seed funding to support its mission to provide affordable and accessible therapy for all Africans. Launched in late-2021, Blueroomcare allows clients to communicate with therapists via in-app messaging, videos, and voice messages. Its platform integrates advanced algorithms with personalised support from licensed mental health professionals, offering users a comprehensive and tailored mental health experience. The startup’s pre-seed funding round was led by EHA Impact Ventures, with additional participation from TVC Labs and Innovest Africa, and will be utilised to enhance the Blueroomcare platform’s capabilities, introduce new features, and reach a broader audience. “This funding will allow us to develop our technology further and expand our services, bringing us closer to our goal of making high-quality mental health care available to everyone, everywhere.”

A series of suicide bombing left 18 people dead in Bono state in north-east Nigeria, an area where Boko Haram operates, according to an official tally. The attacks were perpetrated by three women, hitting a wedding, a funeral service, and a hospital in the town of Gwoza in Borno state, a region long plagued by insurgent activity, local media reported. Some Nigerian outlets said at least 30 were killed including women and children, as the country battles a series of jihadist groups operating in its north. Despite concerted efforts by the government and security forces, the terrorist threat persists. Factors contributing to the surge of violent extremism in the country include poor governance, corruption, and religious extremism.

EQS-News: HB Holding N.V. / Key word(s): Expansion/Real EstateHB Holding N.V. and Marchica Med Establish a Groundbreaking Strategic Partnership with the Signing of a Memorandum of UnderstandingThe issuer is solely responsible for the content of this announcement. Real Estate Project Atalayoun (Nador), MoroccoThe Marchica Lagoon ProjectThe strategic partnership between Marchica Med and HB Holding N.V. aims to transform Atalayoun, part of the development program for the Marchica Lagoon in the Nador province, into a premier tourist destination. New Dynamics“This memorandum of understanding marks a crucial turning point in the implementation strategy for the Marchica Lagoon project,” said Loubna Boutaleb, Director General of the Agency for the Development of the Marchica Lagoon and CEO of Marchica Med. This new partnership aligns with the mid-term action plan of Marchica Med, approved at the last board meeting. Company Profile HB Holding N.V.:HB Holding N.V. is a Dutch holding company listed on the German stock exchange (ISIN: NL0015000NA2), specializing in real estate investments and new technologies.

“We welcome the addition of bp to the consortium, building on the well-established existing relationship between our companies and supporting Masdar’s ambition to drive the development of green hydrogen around the world. We already have plans to develop green hydrogen projects in Egypt and this agreement reinforces Masdar and the UAE’s commitment to Egypt to realise its massive clean energy and green hydrogen potential, alongside our Africa renewable energy champion IPH,” said Mohammad Abdelqader El Ramahi, Masdar’s chief green hydrogen officer. bp has eyes on Egypt's hydrogen potential since 2022, when it signed a memorandum of understanding with the government to conduct feasibility studies, and considered the region home to 'world-class renewable energy resources'. That year witnessed multiple hydrogen research initiatives, one being Petrofac's first new energies project in Egypt. The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt's energy transition plans," said Zaki.

Oil traded near a two-month high after breaking out of its recent trading range on an escalation in tensions in the Middle East and concerns over the rapid start to the Atlantic hurricane season. Brent crude traded near $87 a barrel after rising Monday, while West Texas Intermediate was above $83. “The breakout of the recent range to a new higher high reinforces the near-term upward trend,” said Yeap Jun Rong, market strategist for IG Asia Pte. Increased trading in crude futures has lifted implied volatility, with a gauge for Brent moving to near the highest in a month. Money managers have been piling back into oil and refined products including diesel, and timespreads remain in a bullish backwardation structure.

Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies.

Hapag Lloyd will be increasing ocean freight rates from the Indian Subcontinent and Arabian Gulf to South Europe and North Africa. The rate increase will be applicable from Mid July 2024 till the month end.

Westcon-Comstor, a leading global distributor in ICT, has announced the launch of the Cisco SMB Breakfast Club, an initiative aimed at providing valuable insights and engagement opportunities for Comstor partners and resellers. This innovative programme highlights the extensive range of Cisco solutions tailored specifically for small and medium-sized businesses (SMBs). The Cisco SMB Breakfast Club is set to revolutionise how partners and customers perceive and utilise Cisco’s comprehensive solutions. “The Cisco SMB Breakfast Club represents a significant step forward in our commitment to supporting our partners and resellers. Westcon-Comstor invites all Comstor partners and resellers to join the Cisco SMB Breakfast Club and take advantage of its resources and expertise.

Africa Elections 2024: All the upcoming votesA regularly updated list and interactive map of the upcoming elections in Africa in 2024. Last updated: 2 July 2024How to use the mapThis elections map shows you all the upcoming votes. The colour tells you approximately when the election is:Red – This month– This month Orange – Next month– Next month Yellow – In two months– In two months Green – Beyond thatThe icon tells you who is up for election:Upcoming Africa elections: A listHere are the upcoming elections in list form. July 202415 July 2024: Rwanda – President + National AssemblyAugust 2024September 20247 September 2024: Algeria – PresidentUnconfirmed and beyond9 October 2024: Mozambique – President + National Assembly + Local– President + National Assembly + Local October 2024: Chad – National Assembly + Local– National Assembly + Local By October 2024: Botswana – National Assembly + Local– National Assembly + Local By October 2024: Tunisia – President– President 13 November 2024: Somaliland – President– President 27 November 2024: Namibia – President + National Assembly– President + National Assembly November/Dec 2024: Guinea Bissau – President– President 30 November 2024: Mauritius – General– General 7 December 2024: Ghana – President + National Assembly– President + National Assembly 22 December 2024: South Sudan – President + National Assembly + Local– President + National Assembly + Local 2024: Cabo Verde – Local– Local 2024 (delayed from February): Mali – PresidentDon’t miss a thing. Leave this field empty if you're human:Sources include: EISA; NDI; others.

• Total demand, measured in cargo tonne-kilometers (CTKs*), rose by 14.7% compared to May 2023 levels (15.5% for international operations). • Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 6.7% compared to May 2023 (10.2% for international operations). “Air cargo demand moved sharply upwards in May across all regions. The sector benefitted from trade growth, booming e-commerce and capacity constraints on maritime shipping. • Industrial production and global cross-border trade increased month-on-month in April (0.5% and 1.5% respectively).

African startups can apply for the Innovate2PREVENT Innovation Contest, which seeks to inspire and mobilise creative minds from around the globe to develop innovative, inclusive and data-driven circular business approaches. Implemented by Yunus Environment Hub on behalf of the PREVENT Waste Alliance, the Innovate2PREVENT programme allows innovators, environmentalists, and forward thinkers to showcase and advance their innovative solutions contributing to a circular economy in priority countries of the German Development Cooperation while taking just transition principles into account. It is seeking three types of solution – those contributing to extending product lifetime, closing resource loops or optimising resource efficiency through reuse, refurbishment or repair of electrical and electronic equipment; those in the plastics value chain that contribute to phasing down single-use plastics; and those contributing to a circular economy by integrating digital solutions and interoperable data models across product life cycle stages and value chains. Applications are open here until July 5.

The results show that people are more likely to express support for female politicians than for male politicians. When female politicians perform well, voters are more likely to support women in the future. Male Candidates Still Receive the VotesDespite people's perceptions of female candidates as more capable, it does not fully translate to the ballot. Many thought that their personal support for female candidates would not be reflected in the rest of society. "To encourage more people to vote for the candidate they believe will do the best job, information campaigns showing widespread trust in female candidates are needed.