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Kola Adesina Urges Investors To Focus On Access To Power At The Ongoing UK-Africa Investment Summit
Kola Adesina, GMD Sahara Power Group
London, United Kingdom– Leading energy conglomerate, Kola Adesina of Sahara Group has urged participants at the UK-Africa Investment Summit to explore committing resources towards addressing the energy needs on the continent that is home to about 1.3 billion people.
The Summit which holds on January 20, 2020 in London, will be hosted by the Prime Minister, bringing together businesses, governments and international institutions to showcase and promote the breadth and quality of investment opportunities across Africa.
Sahara Group said UK and African businesses need to commit more funds to grid electricity development while ramping up investment in renewable energy to bring electricity to over 600 million people, a figure that is 10 times the population of the United Kingdom.
According to Kola Adesina, Executive Director, Sahara Group, access to power in Africa is crucial to ensuring sustainable economic growth and seamless transition to the fourth industrial revolution. “Investment in off-grid electricity will light up homes and small businesses in rural and poor communities, mostly in Sub Saharan Africa. This is an auspicious time for investors in the UK and across the globe to explore this opportunity which promises a win-win situation for all,” he stated.
Adesina said apart from having the potential to promote access to clean energy, off-grid electricity from renewable energy sources, including solar, wind and hydro, has the potential of becoming more affordable for more Africans in the long run. “The aspirations of Africa’s youth population, some 400 million people aged between 15-34 – which is about twice Europe’s entire population – rest on the decisions UK and African investors take at this summit. We can promote the agenda of bringing energy to life through enhanced access to electricity in Africa and Sahara Group is committed to spearheading this cause through more investment and collaboration,” he added.
Adesina stated that Sahara Group, with its profile as one of the largest private power business operators in Africa, was already in partnership with the United Nations Development Programme (UNDP) on a project aimed at boosting access to sustainable energy in Africa.
He concluded that governments and businesses must work together to develop and implement a plan to transform regulatory and operational issues in the power sector. “We also need a sustained awareness plan to change the mindset of Africans to navigate from consumption to production; this will require reliable and affordable electricity. Sahara Group remains passionate about electrifying Africa and believes the time for all stakeholders to act is now.”
According to the International Energy Agency (IEA), despite being home to 17% of the world’s population, Africa currently accounts for just 4% of global power supply investment. The IEA’s World Energy Outlook 2019 report found that achieving reliable electricity supply for all would require an almost fourfold increase, to around $120 billion a year through 2040, noting that mobilising this level of investment would require huge investments and thorough policy and regulatory measures to improve the financial and operational efficiency of utilities.
Veuve Clicquot Bold Woman Award (Image: Supplied).
Since its inception in 1972, the Veuve Clicquot Bold Woman Award has established the platform as the ultimate accolade highlighting female founders and CEO’s globally. Esteemed for honouring female pioneers who embody the spirit of Madame Clicquot, this award has two categories, the Bold Woman Award and the Bold Future Award, which highlight and give visibility to innovative women around the world. This is the first and longest-running international award of its kind and South African female business leaders and entrepreneurs looking to elevate their businesses and join a community of like-minded trailblazers are invited to enter from 18 March 2024.
Over 52 years, the award has celebrated women who exemplify the same tenacious, enterprising spirit of the Grande Dame of Champagne, Madame Clicquot. Widowed at the age of 27 in 1805, she defied norms and transformed an entire industry – an extraordinary feat during an era when women faced significant limitations, unable even to establish personal bank accounts, let alone independently own or manage businesses. The Bold Woman Award is a powerful tribute to women who share her fearlessness and determination. Open to women in 27 countries, the award has honoured over 450 businesswomen to date. Not only does it applaud their leadership, but also provides laureates with prominence, a powerful platform and access to an inspiring global community.
The award’s impact is invaluable, and these Bold women in turn inspire and motivate future generations of female leaders. The South African edition of the 2023 Bold by Veuve Clicquot Barometer reveals that 72% of aspiring women entrepreneurs are inspired by, and can name, a local female role model. This finding underscores the vital role of the Bold by Veuve Clicquot programme, which sets out to fortify a sustainable future for businesswomen globally through impactful initiatives that inspire mentorship and collaboration. The data for the 2023 Bold by Veuve Clicquot Barometer was collated from over 49,000 women and men surveyed in 25 countries, contributing to a powerful overview of female entrepreneurship globally.
One initiative that sets out to amplify the Bold Programme and fosters global female networking is Veuve Clicquot’s Bold Open Database, a collaborative database catalysing social and economic development. South African women seeking to connect with fellow female entrepreneurs across the globe are invited to register Here.
The women who step into the Bold Woman Award spotlight pay tribute to the legacy of Madame Clicquot and play a vital role in inspiring future generations of female entrepreneurs. South African women who are ready to be recognized for their business achievements are called to enter the 2024 Veuve Clicquot Bold Woman Award.
HOW TO ENTER
To enter the Bold Woman Award, candidates must be founders or CEOs of a company for more than three years, have demonstrated transformation and evolution in their field, and supported growth for at least two years while maintaining an ethical approach to business.
To qualify for the Bold Future Award, candidates must be the founders or CEOs of a company that has been in existence for less than three years. In that time, the candidate must have made a significant contribution to the success of their company by instilling a sense of entrepreneurship and have made a tangible contribution to transformation in an existing market, while bringing ethical change to the company.
Three finalists in each category will be selected by an esteemed jury and will be invited to attend the Bold Woman Award ceremony on 17 July where one laureate in each of the categories will be lauded by a grand jury. The Bold Woman Award winner will travel to Reims, France, for an immersion in the history, tradition, and luxury of Maison Veuve Clicquot.
Entries open on 18 March and close on 30 April 2024. Business leaders and role models who are ready to be recognised for their remarkable success are invited to enter the Veuve Clicquot Bold Woman Award by completing a simple form Here.
Applicants must be an official resident of South Africa and the business must be based in or operating in South Africa. The finalists will be selected by an independent panel of judges.
Shelter Afrique Development Bank (ShafDB) Chief Executive Officer, Thierno Habib Hann, has presented his credentials to Prime Cabinet Secretary of Kenya and Foreign & Diaspora Affairs Minister of Kenya, H.E Dr. Musalia Mudavadi.
In a formal ceremony held at the Prime Cabinet Secretary of Kenya’s office in Nairobi, Mr. Hann conveyed Shelter Afrique Development Bank ‘s commitment to enhancing its collaboration with the Government of Kenya in addressing the pressing challenges of affordable housing and urban development in the country and across Africa.
Mr. Hann highlighted the organization’s commitment to sustaining its impactful efforts in Kenya, particularly in advancing affordable housing programs. Mr. Hann reiterated Shelter Afrique Development Bank ‘s dedication to supporting Kenya’s housing agenda with a particular focus on housing programs that seek to address key thematic areas of climate financing, gender, migrants, refugees, and the diaspora.
“We enjoy a great relationship with the Government of Kenya, being Kenya Shelter Afrique Development Bank ‘s largest shareholder and we are looking forward to scaling up projects that are in line with the visionary economic development agenda – Kenya Vision 2030. We extend our gratitude to the Government of Kenya for their enduring confidence in our institution and for hosting ShafDB’s Headquarters for the last 42 years,” stated Mr. Hann.
He further conveyed Shelter Afrique Development Bank ‘s readiness to collaborate closely with Kenyan authorities in implementing innovative solutions aimed at expediting the provision of quality, affordable housing, and associated infrastructure and urban development across the nation.
Welcoming Mr. Hann and accepting his appointment, Prime Cabinet Secretary Honorable Musalia Mudavadi, commended Shelter Afrique Development Bank for its ongoing transformation and continued commitment to Kenya and further Africa’s development priorities, highlighting the organization’s valuable contributions to the region’s housing sector over the years.
The African Continental Free Trade Area (AfCFTA) Secretariat and N Gage Consulting signed a Memorandum of Understanding (MoU) to enhance implementation of the AfCFTA within Africa, with a focus on North Africa and Arabic speaking countries as well as harness the potential of the AfCFTA through targeted outreach towards positive impact in Africa. The MoU was sealed by the AfCFTA Secretary General, H.E. Mr. Wamkele Mene and Mr. Karim Refaat, Chairman of N Gage Consulting and Dr. Sherif Fahmy, CEO.
The was established as an effort to eliminate trade barriers among African countries with the aim of creating a single market size of 1.3 billion people with a combined annual GDP of $3.4 trillion. As the largest free trade area in the world, the AfCFTA is expected to increase intra-African trade and promote regional economic integration of Africa and, as a result, contribute to the sustainable economic and social development of the continent through the creation of employment opportunities and the reduction of poverty.
Pursuant to the MoU, the two parties commit to strengthen cooperation and promote concrete activities in areas of conducting webinars, tailor effective roundtable sessions, public-private dialogues and to develop a series of monthly newsletters to disseminate relevant information through social media platforms with the aim of raising awareness of business and governments on the AfCFTA, its objectives and showcasing AfCFTA’s Guided Trade Initiative and its role in powering trade among members states.
Additionally, the collaboration will facilitate the preparation for the AfCFTA Business Forum and The Intra African Trade Fair (IATF) and the execution of different capacity building programs for the member states in order to leverage the AfCFTA to boost intra-African trade and utilise Public Private Partnership (PPP) projects to support investment in infrastructure.
The MoU is expected to promote the AfCFTA as a trade liberalisation instrument and sustainable development enabler and accelerator as well as enhance intra-African trade as an engine for economic diversification and industrialisation.
As one of the leading companies operating in the area of government relations and public policy in the MENA region, N Gage Consulting is committed to support the AfCFTA and will deploy all the necessary resources to strengthen and expand cooperation with the AfCFTA Secretariat to enhance African trade integration.
In addition to her impressive legal background, Rosemond has cultivated a niche expertise in the tech startup ecosystem. She has consistently provided comprehensive consulting, due diligence, and investor readiness services to numerous companies in the tech sector.
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