East African Business Notifier

Fitsum Assefa Adela ADDIS ABABA – Next month, heads of state and government, climate scientists, private-sector leaders, civil-society and youth representatives, and global development partners will convene in Addis Ababa, Ethiopia’s vibrant capital and the seat of the African Union, for the Second Africa Climate Summit (ACS2). This is not a symbolic gathering.  It is a declaration of intent by Africa, an opportunity to unleash a wave of high-return investment, and a potential turning point in how the world confronts the climate crisis. Africa is on the frontline of a socially and economically corrosive global environmental catastrophe. Droughts and floods are disrupting agriculture and displacing millions of people across the continent.  According to the African Development Bank, climate change is  reducing  Africa’s GDP growth by 5-15% each year – losses that mean millions fewer jobs and less investment in critical infrastructure. But while Africa is a poster child...

  BY PAUL TENTENA Africa is set to add 1.2 million barrels per day (bpd) of new refining capacity by 2030, marking one of the fastest downstream expansions globally, according to the newly released 2025 OPEC World Oil Outlook. This medium-term growth – led by landmark projects in Nigeria, Angola and Uganda – signals a turning point for the continent’s energy sovereignty and investment attractiveness. At the forefront of Africa’s refining expansion is Nigeria’s 650,000-bpd Dangote Refinery, which began operations in 2024 and is already reshaping regional fuel trade dynamics. Further developments include the 200,000-bpd Akwa Ibom Refinery, also in Nigeria, and Angola’s state-driven push to bring online the 200,000-bpd Lobito Refinery and 100,000-bpd Soyo Refinery by 2030. Uganda’s refining ambitions are taking shape with a 60,000-bpd facility in Hoima, part of the country’s broader Lake Albert basin development plan. Meanwhile, modular refinery projects in Ghana, Guinea-Conakry, the ...

The Stanbic Business Incubator Limited (SBIL), a subsidiary of Stanbic Uganda Holdings Limited focused on enterprise development, has launched a six-month capacity-building programme aimed at skilling 30 commercial horticulture farmers in the districts of Hoima, Kikuube, and Buliisa. The Albertine Agribusiness Development Programme (ADP), which was launched at Entuiga Cottages in Hoima, is being implemented in partnership with the Uganda National Oil Company (UNOC), and  Bunyoro Kitara Kingdom.  SBIL Chief Executive Catherine Poran said the programme seeks to enhance the skills of farmers, particularly in relation to opportunities within the oil and gas industry as suppliers of fresh produce.  She said, "The initiative aims to transform agriculture in Uganda’s Albertine region by improving productivity, sustainability, and market access.” "During the six months, our training will focus on Good Agricultural Practices (GAP), climate-smart farming, and agribusiness. We also ...

Peter G. Kirchschläger ZURICH – Meta CEO Mark Zuckerberg and OpenAI’s Sam Altman have been aggressively promoting the idea that everyone –  children included  – should  form relationships  with AI “friends” or “companions.”  Meanwhile, multinational tech companies are pushing the concept of “AI agents” designed to assist us in our personal and professional lives, handle routine tasks, and guide decision-making. But the reality is that AI systems are not, and never will be, friends, companions, or agents. They are, and will always remain, machines. We should be honest about that and push back against misleading marketing that suggests otherwise. The most deceptive term of all is “artificial intelligence.” These systems are not truly intelligent, and what we call “AI” today is simply a set of technical tools designed to  mimic  certain cognitive functions. They are not capable of true comprehension and are neither objective, fair, nor neutral. Nor are th...

Koketso Moeti JOHANNESBURG – In today’s fraught global political environment, where  rights are being rolled back , authoritarians are winning power through the ballot box, democracy is under threat, and governments are increasingly serving elite interests. South Africa risks falling into the same trap. South Africa’s world-beating  wealth concentration  makes it vulnerable to the whims of a small number of individuals and corporate actors. For example, the  mining industry  – a cornerstone of South Africa’s economy – has close ties with the government, while a  few donors  are responsible for the bulk of political funding. Last year’s national election, in which the African National Congress lost its majority for the first time, reflected people’s frustration with the party’s neoliberal rule. But the coalition it formed with the Democratic Alliance (DA) seems to have reinforced the ANC’s  elite project .  This illustrates what the sociologis...

Backbase, the global leader in Engagement Banking, in partnership with the African Banker magazine, recently launched the inaugural report in the Africa Digital Banking Experience Series 2025, a timely publication that explores the transformation of banking across the continent in an age of hyper-personalisation, AI integration, and financial inclusion. The report "Retail banking: Competing for the modern African customer" is based on an exclusive survey of over 200 senior banking executives across 40 African countries. It provides a detailed, data-driven analysis of how African banks are shifting from traditional transactional models to AI-powered platforms that prioritise tailored customer journeys and operational efficiency. Key findings from the report include:  Retail banking remains the main entry point for digital transformation , with 39% of banks prioritising it, followed by SMEs and corporate banking. AI is becoming central to reaching the unbanked , with banks usi...

Mariana Mazzucato CAPE TOWN – As African leaders gather in Cape Town for the  African Water Investment Summit , there can be no equivocation: the world faces an unprecedented water crisis that demands a paradigm shift in how we value and govern our most precious resource. The  scale of the challenge  is staggering. Over half the world’s food production now comes from areas experiencing declining freshwater supplies. Two-thirds of the global population faces water scarcity at least one month per year.  More than 1,000 children under five die every day, on average, from water-related diseases. And if current trends continue, high-income countries could see their GDP shrink by 8% by 2050, while lower-income countries (many in Africa) face losses of 10-15%. Yet this crisis also presents an extraordinary opportunity. As South Africa assumes the G20 presidency (for which I have been appointed special adviser to President  Cyril Ramaphosa ), it can champion a new econo...

Over 450 participants from across the world are meeting in Lusaka, Zambia, for the  NAP Expo 2025  (12-15 August 2025), the largest climate adaptation event in the United Nations climate change process.     The event – which aims to help strengthen  National Adaptation Plans  (NAPs) – comes at a crucial time, amid worsening climate impacts.  In Zambia, a severe drought in recent years slashed agricultural production by half, while similar droughts, floods, heatwaves and wildfires are hitting food security, jobs, health and economic growth in every region.   Adaptation is at a crossroads between the incremental progress made so far, and the need to accelerate and scale up this vital area of climate action, and unleash its full potential to transform lives, communities and economies for the better.    "At this Expo, the international politics of adaptation will give way to what matters most: implementation, reducing vulnerabilities, s...