Happy weekend guys!
Welcome to today’s edition of the Big 5 Daily. Join me as I take you through today’s 5 biggest African innovation.
Big news, Diageo PLC, a British multinational alcoholic beverages company headquartered in London has revealed plans to invest $219 million in renewable energy resources, across 11 of its 12 refineries in Africa. The company also intends to replace its oil-based refineries with solar-based refineries. It will also improve its water recovery, purification and reuse facilities across Kenya, Uganda, Nigeria and two other countries. Applaudable!
Next, on the Big 5, CrossBoundary Energy Access (CBEA) a mini-grid financer has partnered with PowerGen Renewable Energy, a mini-grid developer to finance 60 mini-grids in Tanzania. The partnership will see CBEA invest about $5.5 million in 60 mini-grids to serve over 34,000 people in rural homes and businesses in Tanzania. Nice initiative!
Drum roll!!! OpenView HD (OVHD), a Free to View Direct Broadcast Satellite television provider in South Africa will start to air live English Premier League matches from this weekend onwards. OpenView HD offers its viewers access to about 20 South African channels. The TV company will, however, show one live match every week. Impressive right?
Also, Safaricom, the largest telecommunications provider in Kenya has invested $4 million (Sh407 million) in M-Pesa, its fintech platform. This investment is in a bid to foster the cross-border expansion of the platform. The investment was facilitated through its subsidiary company, Instaconnect Limited.
Finally, Airlift, a Pakistani-based bus booking startup has secured $2.2 million as they plan global expansion. The company plans to expand across the MENA region and to Kenya. They will also leverage the fund in enabling swift, reliable and economical urban movement. What do you think?
…and there you have it for today’s edition!
Thanks for sticking around!
See you next week!