Early-stage venture fund and seed accelerator 500 Global has made 156 investments in Africa since 2012, and is now planning a beefed up physical presence on the continent to better support its portfolio. Launched in 2010 in the United States (US) as 500 Startups, 500 Global ran its first accelerator in Silicon Valley in 2011 and has since expanded globally, running programmes and making early-stage investments all over the world. Its first African investments were made in Egypt in 2012 via the latter vehicle, and since then 500 Global, which the firm is now known as after a 2021 rebrand, has built a portfolio of 156 ventures across the continent. This portfolio includes investments in the likes of Chipper Cash, MaxAB, Triply, Aella Credit, Stitch, SweepSouth, Breadfast, NowPay and Moneyfellows. Mareme Dieng, Africa lead at 500 Global, told the latest episode of “The month in VC”, Disrupt Africa’s regular podcast on the African venture capital space, that aside from the North African investments via its MENA fund, most of 500’s Sub-Saharan African investments have been made through its global fund.

The International Criminal Court (ICC) prosecutor, Karim Khan, has announced that he will renew an investigation into alleged crimes in eastern Congo. The investigation will focus on alleged crimes committed in North Kivu province since early 2022. Eastern Congo is home to over 120 armed groups, which seek control of the region’s abundant mineral resources. The ICC’s investigation follows a 2022 request by Congo’s government to probe crimes committed in North Kivu by armed groups. The ICC has previously convicted three rebels for crimes in Congo.

Key Takeaways Stellantis said Wednesday that worldwide shipments of its vehicles fell by 20% in the third quarter, with a 36% drop in North America. The lower shipments can be partly be attributed to previously announced production cuts and efforts by car dealers to lower their inventories. Big Three automaker Stellantis (STLA) reported worldwide shipments dropped 20% year-over-year in the third quarter, including a 36% decline in North America amid high dealer inventory levels. Shipments during the quarter by the Jeep and Chrysler parent fell to about 1.15 million vehicles from 1.43 million last year. Stellantis shares were up 1% at $13.08 soon after the opening bell Wednesday but have lost 44% of their value since the start of the year.

The study shows that the highest mortality rates are in West and Central Africa. The data from 54 African countries shows only 8 countries (mainly in North Africa) have significantly reduced under five mortality rates to 25 deaths per 1,000 live births or less. The researchers, from Nigeria and the UK, used supervised machine learning to analyse the relationship between child mortality and factors like contraceptive prevalence, use of skilled birth attendants, and female secondary school completion. It show that increasing these health factors can significantly improve the probability of achieving the Sustainable Development Goal target for under-5 mortality rate in African countries. Adedini told Nature Africa that there’s an urgent need for interventions to address the situation and “many countries, particularly across West and Central Africa need to make increased investments in girl-child.”

AirAsia has ambitious plans of growing its network into Africa and Europe, and making its foray into North America in the coming years, shared Capital A CEO, Tony Fernandes. This will ultimately solidify Kuala Lumpur as the world’s leading low-cost carrier megahub. The airline was recently recognised by OAG’s 2024 Megahubs Index as the leading contributor to Kuala Lumpur International Airport’s status as the top global low-cost carrier megahub. In 2028, AirAsia aims to expand its network in the Middle East and to Europe and North America by 2030. Its newest service expansion on the cards will be four weekly direct flights from Kuala Lumpur to Nairobi on November 15, marking its entry into Africa.

After setbacks in the energy sector from between 2020 to 2022, progress on increasing electricity access rates in Africa has resumed. Both factors will require a major expansion in the energy system in Africa as the demand for electricity increases. The report says this is reinforcing the need for a faster expansion of clean energy worldwide. Gas projects’ growth in Africa in a changing energy landscapeThe rise and rise of electricityIEA Executive Director Fatih Birol said that after the “age of coal and age of oil, the world is moving rapidly into the age of electricity.”He said electricity has recently grown twice as fast as total energy demand. “The breathing space from fuel price pressures can provide policymakers with room to focus on stepping up investments in clean energy transitions and removing inefficient fossil fuel subsidies.

Cycle parking solution provider Cyclehoop has launched an initiative to provide cycle parking facilities to schools across the UK. The Cyclehoop Education Fund offers financial support to make cycling more convenient and accessible for students who cycle to school. “The installation of secure cycle parking at schools encourages more children to cycle, which can lead to cleaner air, reduced traffic congestion, and healthier lifestyles. Selected schools will participate in a workshop hosted by Cyclehoop experts to establish a parking solution on their grounds. Depending on the scale of the project, the schools will receive full or partial funding to install their parking solution.

This is a price increase far above inflation, which is currently at 4.4%. If the hike is approved it will certainly worsen the economic difficulties facing South Africa. One of the most unequal countries in the world, South Africa has an extremely high unemployment rate – 33.5%at the last count. But it’s not yet clear if these changes will address the issue of exorbitant electricity price rises. This means South Africa is also far from attaining its 2015 Paris Agreement greenhouse gas reduction goals.

ST. JOHN’S, Antigua - Cricket West Indies (CWI) is pleased to announce new media rights agreements for Pakistan, Middle East and North Africa (MENA), and South-East Asia (SEA) markets. These agreements ensure that fans across these regions will continue to enjoy exclusive broadcast and digital access to West Indies international and regional cricket. In the MENA region, CWI has secured a deal with Cricbuzz to air West Indies cricket matches on its CricbuzzTV channels. This partnership brings the excitement of West Indies cricket to millions of fans in the region, expanding CWI’s presence in one of the world’s most dynamic cricket markets. Cricbuzz will also broadcast coverage across South-East Asia, ensuring fans in these countries have access to live coverage of both international and regional West Indies cricket events.

Limited time offer Save 50% on Digital EditionRs1950 for your first 6 months. Then Rs1950 per 3 months. The new FT Digital Edition: today's FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.

The EuroMena Funds has exited two portfolio companies: a pharmaceutical firm in North Africa and a retail holding in Morocco. We know how to get the job done, no matter the obstacles,” said Romen Mathieu, Co-Founder & Managing Partner of The EuroMena Funds. In December 2013, EuroMena II acquired a minority stake in Biopharm, an Algerian pharmaceutical company that is vertically integrated, covering importation, distribution, direct distribution, and production of pharmaceutical products. However, it has also been the ultimate test of The EuroMena Funds’ strength. Retail Holding, one of Africa’s largest diversified retail groups, expanded from 70 to over 250 points of sale with the EuroMena Funds’ support.

INTERCARGO expresses concern over RightShip’s decision to reduce the age limit for bulk carriers’ vetting inspectionsINTERCARGO members have voiced deep concerns regarding RightShip’s recent decision to reduce the age limit of bulk carriers eligible for vetting inspections, as discussed during the Association’s Executive Committee meeting…

In the rest of MENA, growth is expected to decelerate. By this measure, economic uncertainty in MENA is currently twice the average of other emerging markets and developing economies worldwide. The ongoing conflict in the Middle East has already inflicted a heavy human and economic toll. "Peace and stability are the foundation of sustainable development," said Ousmane Dione, World Bank Vice President for the Middle East and North Africa. "Transforming the role of the state would lead to substantial gains in productivity," said Roberta Gatti, World Bank Chief Economist for the Middle East and North Africa.

Clyde & Co Egypt advises on multimillion-dollar Bedaya securitisationPublished by: Robert Li on 16/10/2024Egyptian company Capital for Securitization has concluded a USD 29 million mortgage securitisation transa...Egyptian company Capital for Securitization has concluded a USD 29 million mortgage securitisation transaction. Egyptian securitisation company Capital for Securitization (CFS) has concluded the issuance of EGP 1.4 billion (USD 29 million) of securitisation bonds, as consideration for domestic non-bank mortgage provider Bedaya Mortgage Finance’s mortgage portfolio. The custodian role was filled by Abu Dhabi Commercial Bank and the subscription receiver was Commercial International Bank. The latest bond is itself divided into four, with tranche A’s EGP 63.7 million (USD 1.3 million) having a 13-month duration and tranche B’s EGP 353.9 million (USD 7.3 million) holding a 36-month term, while the EGP 509.6 million (USD 10.5 million) of tranche C has a 60-month term and the 81-month duration tranche D is valued at EGP 488.3 million (USD 10 million). Partner Mostafa Elsakka led the Barakat, Maher & Partners team, assisted by associates Walid Enany, Omar Mahmoud and Mahmoud Toraya.

Research from Finnish vendor Nokia predicts that one in four mobile subscriptions in the Middle East and Africa will be connected via 5G within the next five years. In a statement, Nokia forecasted that by 2029, 5G subscriptions will reach 519 million, accounting for 23% of mobile connections. The surge in adoption will be led by the Gulf Cooperation Council (GCC) sub-region, where 90% of all mobile subscriptions are projected to be 5G by 2029. The adoption of fixed wireless access (FWA) technology, backed by 5G, is expected to grow from 11% to 38% by 2029. Nokia MEA Senior Vice President of Mobile Networks, Mikko Lavanti, commented: “The adoption of 5G is increasingly important for countries across MEA to meet the rising demand for data services.