New Study Shows the Coca-Cola System has an Economic Impact of $10.4 Billion Across its Value Chain in Africa, Supporting More Than 1 Million Jobs
Across 54 African markets, The Coca-Cola Company and its authorized bottlers, collectively known as the Coca-Cola system, contributed $10.4 billion in economic activity across its value chain in 2024.
The Coca-Cola system and its value chain supported more than 1 million jobs in retail, agriculture, manufacturing, transport and services in Africa.
The Coca-Cola system purchased $4.3 billion from suppliers in Africa in 2024, representing 83% of the system’s total procurement on the continent.
The Coca-Cola Company (www.Coca-ColaCompany.com) today announced the results of a comprehensive, Africa-wide socio-economic impact study during the 2025 U.S.-Africa Business Summit in Luanda, Angola.
The study shows that the Coca-Cola system, made up of The Coca-Cola Company and its authorized bottlers, working with a wide network of suppliers, manufacturers, service providers and customers, contributed $10.4 billion in value-added economic activity across its value chain in Africa in 2024.
The Coca-Cola system supported more than 1 million jobs across its value chain on the continent in sectors like retail, agriculture, manufacturing, transport and services. This included 36,800 direct Coca-Cola system jobs, plus 987,000 indirect jobs that are supported across the value chain, meaning the system collectively supported 27 additional jobs for every job it directly creates.
The study, conducted by global consultancy Steward Redqueen, shows that the system invested $4.3 billion in the African economy in 2024 through the purchase of goods and services from local suppliers, representing 83% of its total procurement.
“Our long-standing presence in Africa, working with locally owned bottlers and suppliers, allows us to drive more sustainable growth and contribute to the continent’s development,” said Luisa Ortega, president of the Africa operating unit of The Coca-Cola Company. “Our unique operating model allows us to make a lasting impact in local communities.”
The company’s portfolio in Africa includes a wide range of brands in several beverage categories. Ingredients and packaging used by the Coca-Cola system in Africa are mostly locally sourced, supplied, produced, manufactured and distributed.
“The Coca-Cola Company’s commitment to Africa remains steadfast,” Ortega said. “The Coca-Cola system has announced investments of nearly $1.2 billion on the continent over the next five years, and we are hopeful that stable and predictable policy environments will enable more investments in the months and years ahead. Additionally, the Coca-Cola system will invest nearly $25 million by 2030 to help address critical water-related challenges in local communities in 20 African markets.”
This study highlights the Coca-Cola system’s role in Africa’s long-term growth and driving more sustainable development across the continent. The approach adopted by Steward Redqueen integrates client-provided operational data with trusted third-party economic sources and industry benchmarks. More than just measuring direct contributions, the analysis uncovers economic interlinkages, showing how the Coca-Cola system drives production, generates income, and supports employment across a spectrum of industries and geographies.
Teodora Nenova, Managing Partner at Steward Redqueen added: “Our impact assessment reveals the wide-reaching economic footprint of the Coca-Cola system across Africa. The findings highlight the scale of the Coca-Cola system’s local presence and its ongoing contribution to economic opportunity and livelihoods across the continent.”
H.E. Dr. Hussein Ali Mwinyi, President of Zanzibar and Chairman of the Revolutionary Council speaks during celebrations to mark the official launch of the Tanzania Foreign Policy (2024) in Dar es Salaam, Tanzania
In a landmark diplomatic step, Tanzania has launched a revised National Foreign Policy that reinforces the country’s leadership in African diplomacy. The updated policy embraces Pan-African values, supports the African Continental Free Trade Area (AfCFTA), and advances regional peace, integration, and sustainable development.
The launch event, held at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam, was officiated by H.E. Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania. It was also attended by Dr. Hussein Ali Mwinyi, President of Zanzibar and Chairman of the Revolutionary Council, members of the Diplomatic Corps, senior government leaders, and private sector representatives.
Rooted in the vision of Mwalimu Julius Nyerere, Tanzania has historically championed unity, liberation, and non-alignment in African diplomacy. Under Nyerere’s leadership, Tanzania became a moral compass for the continent and a founding member of the Organization of African Unity (OAU).
“This policy speaks on who we are as a nation—firm in our values, proactive in our diplomacy, and committed to constructive partnerships that advance peace, security, and shared prosperity,” President Samia said during the event.
The new policy reflects this legacy while responding to contemporary priorities like trade, migration, regional infrastructure, climate action, and digital transformation. It aims to deepen Tanzania’s engagement with continental bodies like the AU, SADC, and EAC while emphasizing Kiswahili as a tool for regional integration.
President Samia noted that the revised policy was shaped through a broad-based participatory process involving Tanzanians from all walks of life. “It was high time we revised the policy to cope with global shifts in various spheres,” she said, citing the global scramble for strategic minerals and trade disruptions caused by ongoing conflicts as key motivators.
A core feature of the updated framework includes economic diplomacy and the creation of a Special Status for Tanzanians in the diaspora. The policy promotes legal reforms that would allow non-citizen Tanzanians abroad to own land, register businesses, and invest back home.
To strengthen implementation, President Samia called on the Ministry of Foreign Affairs and East African Cooperation to engage retired diplomats in training current officials, ensuring that Tanzania’s envoys are equipped to promote national interests globally.
President Mwinyi welcomed the revised policy as a catalyst for unlocking social, economic, and political potential. “Tanzania continues to position itself globally, and the revised policy aligns with evolving global needs,” he said.
He urged the Ministry to encourage more countries to open consulates in Zanzibar and called on all Tanzanians to embrace and defend national interests through the policy. “This policy will benefit both Tanzania Mainland and Zanzibar,” he emphasized.
President Samia’s regional outreach began early in her presidency. In April 2021, she visited Uganda, where she and President Yoweri Museveni signed the Final Investment Decision for the $10 billion East African Crude Oil Pipeline (EACOP).
In May 2021, her visit to Kenya revitalized bilateral ties, followed by trips to Burundi, Mozambique, Rwanda, Zambia, and Egypt, resulting in cooperation on trade, energy, security, and innovation.
At the June 2021 SADC Summit in Mozambique, Tanzania reaffirmed its commitment to regional peace by supporting the fight against insurgency in Cabo Delgado. In Ghana, she received the Africa Road Builders–Babacar Ndiaye Trophy for leadership in infrastructure development.
In Senegal, during the IDA20 Summit, and at COP27 in Egypt, she positioned Tanzania as a leader in climate resilience, presenting an $18 billion renewable energy plan.
From 2023 to 2025, she maintained strong continental engagement through AU summits, the BRICS Summit in South Africa, and diplomatic visits to Malawi, Zambia, South Africa, and Morocco.
A key milestone in Tanzania’s growing international stature was the invitation to the Lobito Corridor Development Project high-level meeting in Angola—part of the G7’s Global Infrastructure Initiative. Although Tanzania was not originally a member of the project, its geographic and strategic relevance was recognized as critical to the corridor’s success.
In February 2024, President Samia unveiled a statue of Mwalimu Nyerere at the AU Headquarters in Ethiopia—a symbolic act that underscored Tanzania’s foundational role in the Pan-African movement.
As Chair of the SADC Organ, she presided over the 2024 Troika Summit in Zimbabwe, advancing peace and security initiatives and supporting Raila Odinga’s candidacy for AU Commission leadership.
On May 18, 2025, Professor Mohamed Yakub Janabi was elected as the next Regional Director of the WHO African Region, a milestone widely credited to Tanzania’s rising diplomatic influence. His nomination followed the untimely death of Dr. Faustine Ndugulile in 2024. Janabi’s appointment will be formalized by the WHO Executive Board later this month.
According to Ambassador Mahmoud Thabit Kombo, the revised policy focuses on ten strategic pillars:
Economic Diplomacy
Peace, Security, and Stability
Ratification and Implementation of International Treaties
Participation in Regional and Global Bodies
Promotion of Kiswahili as a Diplomatic Tool
International Resource Mobilization
Blue Economy Development
Diaspora Engagement
Human Rights and Good Governance
Environmental Protection and Climate Leadership
This updated policy reflects Tanzania’s commitment to Pan-African unity while embracing innovation, inclusion, and global partnership. It sets the stage for the next chapter in Tanzania’s regional leadership and sustainable development.
The awards celebrate Africa’s most innovative and transformative financial deals, highlighting exemplary execution, effective mobilization of new liquidity pools, and innovative deal structuring
Two African Development Bank Group (www.AfDB.org) -supported projects have garnered top honours at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards (https://apo-opa.co/4li4foE) conference. A $545 million sustainable term loan facility in Senegal (https://apo-opa.co/4ldg7rV) was named Sovereign Syndicated Loan Deal of the Year, while Rwanda’s €200 million ESG loan (https://apo-opa.co/4lf3cpd) was awarded ESG Loan Deal of the Year. Both projects were supported by partial credit guarantees from the African Development Bank Group.
The awards celebrate Africa’s most innovative and transformative financial deals, highlighting exemplary execution, effective mobilization of new liquidity pools, and innovative deal structuring.
In its debut on the international sustainable finance market, announced in March 2024, Senegal raised $545 million in long-term financing – part of it in the CFA franc. The African Development Bank served as a financial advisor in addition to providing a partial credit guarantee. The pioneering transaction, which leveraged the Bank Group’s credit guarantee to secure favorable borrowing terms and attract diverse investor segments, was seen as underscoring Senegal’s commitment to financing critical sustainable development projects in climate resilience, renewable energy, and social infrastructure.
In April 2024, Rwanda secured a partial credit guarantee from the African Development Fund, the Bank’s concessional window, paving the way for long-term funding from international commercial banks. The financing is supporting Rwanda’s National Strategy for Transformation, which focuses on green urbanization, environmental sustainability, social inclusion, and health and education infrastructure. With the African Development Bank serving as the initial mandated lead arranger, this transaction diversifies Rwanda’s financing sources and underlines the growing attractiveness of African sustainable investment opportunities in global markets, while enhancing citizens’ quality of life.
Ahmed Attout, the Bank Group’s Director for Financial Sector Development, said: “These awards underscore the Bank’s steadfast commitment to fostering competitive and sustainable financing solutions. By tailoring partial credit guarantees to the specific needs of member countries, Senegal and Rwanda now have access to competitive international capital, enabling them to mobilize long term funding from international commercial banks for green and social initiatives for the first time.”
Max Magor N’diaye, Bank Group Senior Director for Syndication, Co-financing client solutions and the Africa Investment Forum stated: “The awards shine a spotlight on these innovative transactions, marking a game-changing benchmark for leveraging sustainable financing to drive transformative and social progress. They not only benefit communities but also pave the way for a resilient and prosperous future.”
Bonds, Loans & ESG Capital Markets Africa, held annually at the Cape Town International Convention Center, is an important event for Africa’s capital markets, bringing together the public and private sectors, government officials, financial institutions, investors, and industry experts for dialogue.
The Critical Need for Energy Access in Africa: A Roadmap to Prosperity (By Wale Shonibare)
Across Africa, the sunlight shines bright and natural resources abound. Yet despite that lies a pressing issue that threatens to stifle the continent’s growth and prosperity: the lack of access to reliable and sustainable electricity. As we prepare for the Africa Energy Summit (https://apo-opa.co/3PEPMUY), taking place on January 27-28, 2025, in Dar es Salaam, Tanzania, the urgency of addressing Africa’s energy needs cannot be overstated. Without power, Africa cannot achieve its development aspirations and take its rightful place at the global first table. This summit is a critical step towards unlocking Africa’s vast potential and empowering its people.
The Stark Reality of Energy Poverty and Africa’s Power Sector
Today, nearly 600 million Africans—approximately half the continent’s population—still live without access to electricity. For these individuals, daily life is a struggle illuminated by the dim glow of kerosene lamps or the intermittent hum of diesel generators. These stopgap solutions are not only expensive but also polluting, perpetuating a cycle of poverty and environmental degradation. At the current pace of electrification and with Africa’s rapid demographic growth, the number of people without electricity will remain largely unchanged unless we take bold and immediate action.
What makes this challenge significant in Africa is that, for many decades, the power sector has faced numerous interlocking challenges which include inter alia, low access rates, lack of maintenance, lack of investment, non-cost reflective tariffs, unaffordable subsidies, and lack of financial sustainability. Most of Africa’s public utilities are in financial distress – they struggle to cover their operating costs and cannot finance the required capital expenditure to maintain their operations, thus forcing them to rely on public subsidies.
At the same time, most of the financing available for energy projects today is in hard currency, which is not always sustainable because energy services are paid for by local populations in local currencies, thus resulting in a currency mismatch occasioned by the volatility of local currencies against international hard currencies. In addition, regulatory authorities are subject to political interference in most African countries, which affects their decision-making and ability to implement policies that support long-term sector development.
I believe passionately that without access to reliable, affordable, and sustainable electricity, Africa will not achieve its development aspirations. Energy access is the cornerstone of economic transformation, unlocking opportunities for education, healthcare, gender equality, and income generation. It is a prerequisite for creating a green and resilient future, one where poverty is a relic of the past.
In response to this urgent need, the African Development Bank Group, the World Bank, and other partners have launched an ambitious initiative known as Mission 300 (https://apo-opa.co/3PEPMUY). This initiative aims to provide electricity access to 300 million Africans by 2030. Mission 300 is not just a number; it represents lives transformed, economies revitalized, and communities empowered.
The plan focuses on accelerating electrification through a mix of grid extensions and distributed renewable energy solutions, such as mini-grids and stand-alone solar home systems. These solutions are particularly effective in reaching fragile and remote areas where traditional grid infrastructure is impractical. Complementing these efforts are investments in generation, transmission, regional interconnection, and sector reform to ensure that power supply is not only reliable but also affordable and sustainable.
Partnerships and Reforms: The Keys to Success
Mission 300 will only succeed with the collective efforts of governments, private sector stakeholders, and international partners. Governments must lead the charge by implementing critical reforms to make the energy sector more efficient and utilities more robust. Transparent and competitive tendering processes for new generation capacity, along with cost-recovery mechanisms for utilities, are essential. Regulators will have to respond with appropriate nimbleness and innovation to stay responsive to a fast changing technological and business environment. Governments and development partners must amplify the call for regional electricity trade to facilitate a shift away from the single-buyer model as well as allow the sustainable integration of Variable Renewable Energy (VRE) into weak grids to help shape the energy transition pathways of African countries.
Private sector participation is crucial for addressing Africa’s energy challenges, especially considering Africa’s rapidly growing population and the need for increased investment. The private sector is already playing a vital role in expanding renewable energy access, particularly through decentralized energy solutions, an area where traditional utility-scale projects face limitations due to infrastructure constraints. Meanwhile, multilateral development banks and philanthropic organizations must step up in unlocking private capital for the energy sector through targeted financing instruments, risk mitigation tools, technical assistance and policy advocacy.
The recently launched Technical Facility Accelerator Fund (https://apo-opa.co/3CaOjmm) is a promising step in this direction, providing technical assistance to governments and helping streamline processes to achieve Mission 300 targets.
A Defining Moment: The Africa Energy Summit
The upcoming Africa Energy Summit represents a pivotal moment for the continent. Hosted by the Government of the United Republic of Tanzania, the African Union, the African Development Bank Group, and the World Bank Group, this summit will bring together heads of state, energy experts, and private sector leaders to forge a path toward universal energy access.
At the summit, several African governments will present their national energy compacts, outlining their commitments to reforms and near-term actions to achieve their energy targets. These compacts will showcase the innovative strategies and partnerships being deployed to advance universal energy access in a reliable, affordable, and sustainable manner. The summit will also highlight the critical role of international partners such as the Rockefeller Foundation, Sustainable Energy for All (SEforALL) (https://apo-opa.co/40D8wdO), and the Global Energy Alliance for People and Planet (GEAPP), who are mobilizing resources and expertise to support this mission.
Significantly, the summit will unveil some new spending commitments and innovative initiatives designed to encourage African Countries to mobilize more of their domestic resources to finance the accelerated roll-out of green energy infrastructure across the continent.
Why Now?
The convergence of technological breakthroughs, digitization, and innovative financing models makes this the most opportune time to tackle Africa’s energy challenges. Achieving Mission 300 will not only light up homes and businesses but also drive progress in education, healthcare, and gender equality. It will reduce emissions, enhance welfare, and boost income generation and financial inclusion across the continent.
As we gather in Dar es Salaam, let us be reminded that energy access is more than just a technical challenge; it is a moral imperative. By working together, we can transform the energy landscape of Africa and, in doing so, create a brighter, more prosperous future for millions.
Let us make Mission 300 a turning point. Let us make sure the 13 landmark compact agreements (https://apo-opa.co/3C1OzUL) signed this week point the way to lighting up the rest of our continent.
By midday, Tuesday, a GoFundMe page went live with the aim of assisting Berardinetti in getting out from under his financial and personal troubles. Bing Images.
Ex-MPP Berardinetti, first Canadian politician to go homeless gets help
Canadian politician and lawyer, Lorenzo Berardinetti, falls on hard times and goes homeless. Sympathetic colleagues and adversaries have reached out to support him back on his feet.
National Post reports that Berardinetti lost an attempted return to municipal politics. Then, his health failed too. He splits with his wife and family members before going homeless.
Support is currently growing for the former Ontario politician to help him restart his life.
“Lorenzo Berardinetti, a lawyer by profession and former municipal councillor and four-time Liberal MPP, lost his Scarborough-Southwest seat in the 2018 election. In 2022, his attempted return to municipal politics in Scarborough failed. Then, his health did too. He suffered a seizure and was in a coma for a month.
He was divorced from his wife in 2021, so when he came out of the hospital, he lived with his brother in Ajax, Ont., for a while. But money tension between the siblings arose and Berardinetti left in 2023, eventually ending up in an Ajax homeless shelter.
His plight was written about in a Toronto newspaper last week, sparking a coalition of past and present elected officials and political staffers from all points on the political spectrum coming together to help”, the paper reports.
It adds that by midday, Tuesday, a GoFundMe page went live with the aim of assisting Berardinetti in getting out from under his financial and personal troubles.
“We know Lorenzo Berardinetti through his work as an elected official in our community,” reads a note on the page.
It sets out the span of his multi-faceted political career through the years. “Since leaving office in 2018, Lorenzo has fallen on hard times like so many Canadians,” reads the GoFundMe page.
“We know Lorenzo through his work as a city builder and service to the people of Toronto and it would mean a lot to us if you would assist us with a financial contribution through this GoFundMe page. Proceeds will assist us in securing an apartment unit so we can get him out of a shelter and purchasing some basic furniture.”
A political colleague reaches out to shelter
Before the page could go up, Berardinetti’s permission was required. Justin Van Dette, the page organizer, sought him out, contacting homeless shelters in Ajax. Van Dette learned of Berardinetti while working for former provincial Conservative education minister Dave Johnson, and later, former city councillor Brad Duguid.
Van Dette recalls his first brushes with Berardinetti, which date back to municipal council meetings in Toronto. A Tory since his high school years, Van Dette would attend the meetings to watch the proceedings, wearing a jacket that marked him as “Team Harris” — as in a supporter of former Ontario Conservative premier Mike Harris.
He watched Berardinetti in action. “I saw him speak positively about the issues. I respected him,” he told the National Post on Tuesday. Ultimately, Berardinetti helped Van Dette form a worldview that despite political affiliation “we were all committed to the cause.”
Van Dette now works for real estate developer Tridel and is involved in community fundraising. And so, 15 years after the two men last spoke, he began to reach out to former political colleagues, seeking support for Berardinetti.
Unanimous agreement from all sides
During a recent group call, he says “there was unanimous agreement. Everyone wanted to help him get out of the shelter.”
The initiative has been gathering support from past and present elected officials and political staffers. Some are listed on the GoFundMe page. They include, among others, former premier Kathleen Wynne, former Toronto mayor John Tory (also a former provincial Conservative party leader) and other prominent names from provincial and municipal ranks such as: Lisa MacLeod, David Warner, George Smitherman, Brad Duguid, Gary Crawford, Councillor Parthi Kandavel, Councillor Brad Bradford and Ana Bailão.
Former premier Dalton McGuinty has also expressed support, says Van Dette. “It’s wonderful that people from all sides want to help. It’s so great to see so many sign up, already.”
Conservative MPP gives the GoFundMe page a boost
Conservative MPP Lisa MacLeod got the word out about the GoFundMe initiative via a Tuesday morning post to her X account. While the two were on the opposite sides of the aisle, she too carries a lot of respect for Berardinetti’s integrity.
“Please consider supporting Lorenzo Berardinetti — former TO City Councillor & MPP,” she wrote on X. “A prince of a man & gentle soul, he has fallen on hard times. Without pension or work he is homeless despite 5 terms serving Ontario. You can help him get back on his feet.”
She pointed out in a conversation with the National Post on Tuesday that an element of Berardinetti’s dilemma is the fact that Ontario MPPs don’t leave office with a pension. The provincial government of Mike Harris got rid of them two decades ago. And they haven’t been restored in any form.
That means, says MacLeod, that MPPs transition back to private life with whatever they saved from their salary while in office (presently $116,000 for an MPP without a ministerial portfolio) and a $7,000 transition fund. “There is no safety net.”
Berardinetti ‘first former politician to become homeless’
She says Berardinetti is certainly not the first former politician to fall on hard times after leaving office. “But he’s the first to be homeless.”
The efforts that she, Van Dette and their colleagues have undertaken aim to get Berardinetti out of the shelter into safe housing and also to ensure he can pay for any medication he needs and buy groceries.
They are also looking to collect sufficient furniture for him, she says. “Everybody is willing to pitch in.”
Like Van Dette, she points to the support developing across political lines. “We don’t want to see anyone fall on hard times.”
Berardinetti ‘humbled’
Lorenzo Berardinetti is “humbled” by his former political allies and adversaries coming together to help him.
“I’m grateful to Justin and Liza,” he told the Post during a phone interview on Tuesday.
He says his ideas about the nature of politics were set early in his life. He grew up in a Liberal household, but his first recollection of family involvement in politics was the day he came home from school and a sign showing support for a (former) NDP MPP was on the front lawn.
“‘But we’re Liberal,’ I said to Dad. He responded that the candidate, David Warner, was the only one that cared about the working man.”
The lesson stuck with him. “When you get involved in politics, you look around for examples.” David Warner was his first MPP and later an influence when they were both representatives, though of different stripes, sitting in the Ontario legislature.
Some good news for Berardinetti is that his doctor recently gave him a clean bill of health and cleared him to return to work. He intends to get back into law and open a practice in Ajax.
However, it’s been tough. “When you go into a shelter, you go into a hole. It’s hard to get out of it.”
He notes that shelters are places where everyday people can find themselves — not just addicts. He has met two couples who simply couldn’t afford their mortgages and lost their homes.
To support himself, he has been drawing on his Canada Pension. It only amounts to about $800 a month for a person who has begun drawing it early, he says, adding, it’s a very small amount “to pay rent, buy food, get a regular haircut” or buy a new pair of running shoes.
However, after a year in a homeless shelter, he says, “I look forward to sleeping in a bed and closing my bedroom door.”
The developing network of support around him has been an added boost. “It gives me hope.”
Pompigne-Mognard will offer his contribution in guiding the European Union-Africa Chamber of Commerce’s long-term vision and strategic initiatives
The European Union-Africa Chamber of Commerce (EUACC) (https://EU-Africa-Chamber.org) announces the appointment of Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), Founder and Chairman of APO Group, as a Strategic Advisor effective December 16, 2024.
With his extensive experience in driving cross-continental partnerships and his unwavering commitment to promoting Africa’s economic potential on the global stage, Nicolas will offer his contribution in guiding the EUACC’s long-term vision and strategic initiatives.
Commenting on the appointment, Sonia Toro, Executive Director of the EUACC, stated: “We are happy to welcome Nicolas Pompigne-Mognard to our Strategic Advisory Committee. His expertise and strategic relations across Europe and Africa align perfectly with our priorities. Nicolas’s leadership and innovative approach will undoubtedly elevate our efforts to new heights.”
Nicolas Pompigne-Mognard, a Franco-Gabonese entrepreneur recently named among the 100 Most Influential Africans of 2023, serves on multiple high-profile advisory boards and international committees. These include the Senior Advisory Board of the Canada-Africa Chamber of Business, as well as the Advisory Boards of the African Energy Chamber, World Football Summit, Africa Hotel Investment Forum (AHIF), Bloomberg New Economy Gateway Africa, Sports Africa Investment Summit, EurAfrican Forum, and All Africa Music Awards (AFRIMA). He is also a strategic advisor to the Chief Executive Officer of the Royal African Society of the United Kingdom and a special advisor to the President of Rugby Africa, the governing body of rugby in Africa.
Nicolas’ wholly owned company, APO Group, is the premier award-winning Pan-African communications consultancy and press release distribution service, serving over 300 clients, including Microsoft, Nestlé, Coca-Cola, TikTok, DHL, Marriott Group, Ecobank, Canon, Orange, the Jack Ma Foundation, the African Development Bank, Afreximbank, Africa Finance Corporation, the Islamic Development Bank, Liquid Intelligent Technologies, Radisson, the NBA, GoDaddy, Western Union, MultiChoice, and many more.
As the Founder of APO Group, Nicolas has been instrumental in fostering positive narratives about Africa’s growth and development. His contributions have facilitated partnerships between global businesses, governments, and African organizations.
Nicolas Pompigne-Mognard said: “It is an honor to join the EUACC as a Strategic Advisor. I have always been passionate about building bridges between Africa and Europe, and I look forward to working closely with the Chamber to create impactful opportunities that benefit businesses and communities across both continents.”
As a Strategic Advisor, Nicolas will collaborate with EUACC leadership to advance key initiatives, including investment promotion, and policy advocacy that foster sustainable development across Africa.
ABN Group Chairman Rakesh Wahi presented the award to Dr. Adesina during the 2024 Africa Investment Forum in Rabat, Morocco
In a milestone celebration of African leadership, Dr. Akinwumi Adesina’s decade-long impact on continental development has earned him the inaugural “African of the Decade” award. The African Development Bank Group (www.AfDB.org) President received this distinguished honor (https://apo-opa.co/3DfQd5i) at last week’s Africa Investment Forum in Rabat, marking a defining moment in the history of the All-Africa Business Leaders Awards.
The prestigious award, introduced by the ABN Group in collaboration with CNBC Africa, honors individuals who have made a lasting and profound impact on the continent. Dr. Adesina, who will conclude his 10-year tenure as head of the African Development Bank Group next year, is widely celebrated for his visionary leadership and achievements in improving the lives of millions across Africa.
ABN Group Chairman Rakesh Wahi presented the award to Dr. Adesina during the 2024 Africa Investment Forum in Rabat, Morocco. In a citation read by CNBC Africa Chief Editor Godfrey Mutizwa, the awards committee praised Adesina for his unwavering commitment to ethical and responsible leadership and his ability to drive meaningful change across Africa, particularly through the Bank’s High5 strategic priorities (https://apo-opa.co/4iEcRnZ).
“Dr. Adesina has demonstrated a significant impact on the African continent through innovative solutions, projects, or initiatives that address the continent’s pressing socio-economic and environmental challenges. He has consistently shown leadership, vision, and dedication, driving positive change in sustainable development in Africa,” Wahi said.
The awards committee highlighted Adesina’s innovative collaborations, including leading the African Development Bank in a groundbreaking partnership (https://apo-opa.co/3ZEzboK) with the World Bank to provide electricity access to 300 million Africans.
The award also recognizes Adesina’s earlier role as Nigeria’s Agriculture Minister.
“Over ten years ago, Dr. Akinmumi Adesina’s impactful tenure as Nigeria’s Minister of Agriculture revolutionized the country’s agro-industrial value chains and transformed the lives of millions of small-holder farmers,” Wahi stated.
Under Adesina’s tenure, Nigeria ended 40 years of corruption in the fertilizer sector by developing and implementing an innovative electronic wallet system, which directly provides farmers with subsidized farm inputs at scale using their mobile phones.
Since assuming leadership of the African Development Bank in 2015, Adesina, a World Food Prize laureate (https://apo-opa.co/4ggGQRq), has been instrumental in attracting global investment, championed innovative development strategies, and consistently positioned Africa as a continent of immense potential and opportunity.
Accompanied by his wife Mrs Grace Yemisi Adesina, the African Development Bank president expressed his gratitude for the honor, describing the award as a testament to what is possible in the transformative power of Africa’s potential. “I dedicate this recognition to the resilient people of Africa and all those working tirelessly to advance the continent’s development,” he said.
“God did not make a mistake when he made me an African…and I will do all I can, to my final breath, for Africa,” Adesina vowed
The new road surfaces will be adapted to climate change, enabling all-weather transportation locally and the wider area
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a loan of $140.6 million to Eswatini for the first stage of a programme to improve road links and mobility at national and regional level in both urban and rural areas and create at least 200 jobs.
Inadequate road infrastructure is a major reason why socio-economic development has struggled to make progress in the regions of Lubombo and Shiselweni. The regions have abundant agricultural resources, but employment opportunities are limited and young people lack essential skills.
The road infrastructure investment will enable upgrading of 105.9 km of paved roads. The new road surfaces will be adapted to climate change, enabling all-weather transportation locally and the wider area. The Siphofaneni-Sithobelath-Maloma-Nsoko (MR14) and Maloma-Siphambanweni (MR21) sections will be upgraded and will have a width of 12.3 metres, including 2-metre paved shoulders on each side of the road as well as bridges. The effect will be to reduce journey times and vehicle operating costs.
The project also includes construction of an axle-load weighing facility along the MR14 road. In addition, support will be provided to sectoral reforms of policy and institutional frameworks in the sphere of road safety (current road safety provisions are not consistently implemented), and for the design of an axle-load control programme.
In welcoming the Project, Moono Mupotola, the Bank’s Country Manager for Eswatini said : “Above all, the project will contribute to poverty reduction by creating well-paid jobs for young people in economically disadvantaged regions such as Lubombo and Shilselweni,”. “This will be achieved through targeted vocational training and apprenticeship programmes. At least 200 young people will benefit by obtaining formal qualifications and professional and technical skills that are adapted to market needs.”
The Bank began operations in Eswatini in 1972 and its cumulative contributions in the country to date exceed USD 820 million in the form of grants and concessional loans. The Bank’s interventions have included investments across various sectors (agriculture, mining, energy, water and sanitation, transport, finance, governance and communication, knowledge-based activities, policy dialogue and technical assistance.
Nigeria’s former minister of Finance Ngozi Okonjo-Iweala has been reappointed as the director-general of the World Trade Organization (WTO)
Ngozi Okonjo-Iweala, the first woman and first African to run the World Trade Organization, has been reappointed for a second term, the global trade body said Friday.
Confirming her appointment in a statement, the General Council of the WTO said it agreed by consensus to reappoint Okonjo-Iweala as Director-General for another four-year term, set to begin on 1 September 2025.
The organization said this decision reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO.
The reappointment process, initiated on 8 October 2024, was overseen by Ambassador Petter Ølberg of Norway, Chair of the General Council.
With no additional nominations submitted by the 8 November deadline, Dr. Okonjo-Iweala stood as the sole candidate.
The process, according to the statement, was conducted in a fully open and transparent manner, adhering to the WTO’s “Procedures for the Appointment of Directors-General” (WT/L/509).
During a special General Council meeting on 28-29 November 2024, Nigeria’s former Minister of Finance outlined her forward-looking vision for the WTO.
Following her presentation and a Q&A session with members, the Council formally endorsed her reappointment by consensus.
Ambassador Ølberg praised her achievements, stating: “The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organization.
“Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences (MC12 and MC13), where major milestones were achieved.”
He continued: “As we look ahead, the Council fully supports Dr. Okonjo-Iweala’s commitment to ensuring that the WTO remains responsive, inclusive, and results-driven.
“Her leadership will be critical as the organization continues to advance a resilient, rules-based, and equitable global trading system.”
Okonjo-Iweala first assumed office as Director-General on 1 March 2021, becoming the first woman and first African to lead the WTO. Her first term concludes on 31 August 2025.
Her reappointment highlights the strong support for her efforts to enhance the WTO’s relevance and capacity in addressing the evolving challenges of global trade.
The Abidjan-Lagos corridor highway will link the cities of five major West African countries by 2030, and is set to become a powerful economic and industrial hub courtesy of the Spatial Development Initiative promoted by the African Development Bank (www.AfDB.org).
This 1,028-kilometre transnational coastal motorway will connect Côte d’Ivoire to Nigeria, while crossing through Ghana, Togo and Benin. Work is due to commence in 2026 and is earmarked for completion in 2030, the African Development Bank revealed at an online workshop held on Thursday 22 November with all the partners associated with the project.
Under the African Development Bank’s leadership, feasibility studies, financing options for the motorway and institutional arrangements for getting the Abidjan-Lagos Corridor Management Authority up-and-running have already been overseen.
The Director of the Bank’s Infrastructure and Urban Development Department Mike Salawou said the transport corridor needs to become an economic corridor:
“This economic corridor approach also naturally overlaps with major urban development. It will support the growth of major economic hubs and improve links between large urban centres, secondary cities and rural areas within the five countries. The Bank has launched the Spatial Development Initiative to enable transformative industrialisation right along the highway, to stimulate the growth of major economic clusters,”
In a report presented by the consultancy firm responsible for devising the Spatial Development Initiative, 206 specific interventions were identified that could initially require primarily private sector funding investments of around $6.8 billion. The spheres targeted for transformative investment include energy, renewable energy, manufacturing, transport and logistics, agriculture and agri-industry, ICT, tourism, mining and special economic zones.
The Director of Transport at the Economic Community of West African States (ECOWAS) Commission Chris Appoiah added, “Our ultimate objective is to ensure that the corridor and the economic activities to be developed along the corridor contribute to the ECOWAS regional integration agenda. It’s an integrated project which, once implemented, will help us to achieve the economic union we desire in our area.”
The toll-free motorway will boast four to six lanes, with up to eight lanes in Lagos. After a drive of 82 km through Nigeria, the road will cover 520 km in Ghana, 144 km in Cote d’Ivoire, 90 km in Togo, and 127 km in Benin. There are also plans to build 63 interchanges. Construction of the road is expected to generate up to 70,000 direct and indirect jobs. Most of the work will be carried out in the form of public-private partnerships,
The African Investment Forum, the largest investment platform in Africa championed by the African Development Bank and eight other partners, has been providing significant impetus to the project. At the time of its “boardrooms” in 2021, $15.6 billion in potential investment had been pledged by various private and institutional actors for this emblematic project, which is one of ECOWAS’ key priorities.
Lydie Ehouman, the Chief Transport Economist and Project Manager at the African Development Bank presented the preparatory studies for the project. She said it would link an urban population which is expected to reach 173 million people by 2050 and connect the most densly populated metropolitian areas in West Africa the infrastructure will connect the most economically dynamic cities and the most densely populated metropolitan areas in West Africa from Abidjan, Takoradi and Accra, to Lomé, Cotonou, Porto-Novo and Lagos:
“The Abidjan-Lagos highway will connect up with the West African transport corridors (airport, road and rail) and will link the inland regions of Mali, Burkina Faso and Niger to all eight ports in the corridor, as well as to the Abidjan-Dakar-Praia corridor,” concluded Ehouman, who also served as moderator during the session.
The Bank was also represented at the gathering by Marco Yamaguchi, Head of Division in the Bank’s Infrastructure and Urban Development Department.
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