Category Archives: Business

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MultiChoice marks 30 years of transforming Zambia’s film, TV industry

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MultiChoice Zambia is celebrating three decades of shaping the nation’s media and entertainment landscape, marking 30 years since the company introduced satellite television broadcasting to the country in 1995.

Over the past three decades, MultiChoice has played a pivotal role in transforming Zambia’s film and television industry, from pioneering satellite broadcasting to driving digital innovation and local content production.

Leading Technological Evolution

When MultiChoice launched in Lusaka in 1995, it revolutionised the viewing experience for Zambian audiences. Since then, the company has expanded beyond satellite television with the introduction of GOtv for affordable access, DStv/GOtv Stream, Showmax, and mobile apps offering flexible, on-the-go entertainment.

These innovations, according to the company, have not only reshaped how Zambians consume media but have also connected local audiences to global news, sports, education, and culture, creating opportunities for knowledge exchange and participation in the digital economy.

Driving Social and Cultural Impact

Beyond technology, MultiChoice says its presence has contributed significantly to Zambia’s social development by promoting cultural exchange and showcasing local talent. Through platforms like Zambezi Magic, Zambian audiences have embraced hit local productions such as Mpali, Zuba, Makofi, Mungoma, Ubuntu, Ten Tamanga Street, and Date My Family Zambia.

Read Also: Afriex partners Visa to power real-time cross-border payments

This emphasis on homegrown content has strengthened national identity and amplified Zambian stories across the continent.

Building the Creative Industry

A major driver of this growth has been the MultiChoice Talent Factory (MTF), which operates one of its three pan-African academies in Lusaka. The MTF Academy offers film and television graduates hands-on training, masterclasses, and mentorship opportunities that prepare them for careers in the creative industry.

Today, the local creative economy employs thousands in production, advertising, events, hospitality, and technology. A highlight of this development came earlier this year when MTF alumnus Cosmas Nga’ndwe won an Africa Magic Viewers’ Choice Award (AMVCA) for Best Indigenous Language Film.

Commitment to People and Partnerships

MultiChoice also credits its success to a strong culture of employee growth and stakeholder collaboration. The company invests in continuous staff training, leadership development, and wellness programmes, helping employees progress from entry-level roles to senior management positions.

Partnerships with ZNBC and other free-to-air broadcasters have further extended the reach of Zambian content, ensuring that local culture continues to thrive on screen.

Looking Ahead

As MultiChoice Zambia marks this milestone, the company reaffirmed its commitment to continue investing in the country’s creative ecosystem, supporting youth, and driving innovation in digital entertainment.

“We see ourselves as a trusted development partner — creating jobs, driving technology innovation, and empowering young people to tell stories that shape Zambian culture for years to come,” the company stated.

With 30 years of progress behind it, MultiChoice Zambia says it remains dedicated to its mission: to go beyond television entertainment by helping define Zambia’s national identity and supporting the next generation of creators.

Afriex partners Visa to power real-time cross-border payments

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Global fintech platform Afriex has announced a partnership with Visa, a global leader in digital payments, to deliver real-time cross-border payment services across more than 160 markets worldwide.

Through the integration of Visa Direct via Afriex’s financial institution partner, users can now send and receive money instantly across borders, connecting directly to billions of eligible Visa accounts. The collaboration aims to make international transactions faster, more transparent, and more affordable for individuals and businesses.

Read Also: Seven Asian countries Nigerians can visit without visa

Commenting on the partnership, Tope Alabi, CEO of Afriex, said:

“For the millions of families and businesses who depend on remittances, speed and transparency matter most. Working with Visa allows us to combine Afriex’s innovation with Visa Direct’s global network, so money moves in real time, not days.”

According to the World Bank, remittances to low- and middle-income countries reached $669 billion in 2023, highlighting the growing demand for efficient and secure global payment solutions. The partnership between Afriex and Visa seeks to address this need by enhancing financial access and inclusion through technology.

The new service is already live on the Afriex mobile app, enabling users to experience seamless and instant international transfers.

AEC to host G20 Africa Energy Investment Forum in Johannesburg

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The African Energy Chamber (AEC) has announced plans to host the G20 Africa Energy Investment Forum on November 21, 2025, at the Southern Sun Sandton Hotel in Johannesburg.

The forum aims to attract foreign investment into Africa’s energy sector, with discussions expected to cover oil and gas production, clean cooking, renewable energy, nuclear development, and strategies for achieving affordable and sustainable energy access across the continent.

Africa’s energy landscape is at a critical turning point as countries confront the twin challenges of energy poverty and climate change. With energy demand projected to quadruple by 2040, the continent requires significant investment to expand access and drive a just energy transition.

According to the AEC, oil and gas will remain central to Africa’s development, with output projected to rise from 11.4 million barrels per day in 2026 to 13.6 million barrels by 2030. Natural gas, in particular, is emerging as a key driver of industrialization and clean energy, with over 620 trillion cubic feet of proven reserves and exploration campaigns underway across several countries.

Read Also: Energy Summit to connect investors with African opportunities

In addition to power generation, the forum will also spotlight clean cooking solutions such as LPG, as more than 900 million Africans still lack access to modern cooking fuels. The International Energy Agency estimates that $37 billion will be required by 2040 to achieve universal access, highlighting a major opportunity for targeted investment.

The event will further explore investment prospects in hydropower, geothermal, and nuclear energy. Countries such as Egypt, Nigeria, Ghana, and Kenya are advancing nuclear projects, while South Africa plans to expand its capacity by 5.2 GW in the coming years.

Speaking ahead of the event, NJ Ayuk, Executive Chairman of the AEC, emphasized the need for pragmatic policies from global partners.

“As we engage the G20, our message is simple: Africa needs common-sense energy policies — not ideology. We need financing that supports Africans building power plants, pipelines, and refineries, not roadblocks that keep our people in the dark,” he said.

The G20 Africa Energy Investment Forum follows the success of African Energy Week 2025, where G20 nations participated in the Global Energy Leaders Forum to explore pathways for collaboration and investment. The new forum will build on that momentum, serving as a launchpad for future energy partnerships across the continent.

Verdant IMAP wins private equity advisory award at AGF 2025

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Verdant IMAP has been named winner of the Best Advisory Services: Private Equity category at the Africa Global Funds (AGF) Africa Service Providers Awards 2025, recognizing its excellence in mergers and acquisitions (M&A) and investment banking advisory across the continent.

The award underscores Verdant IMAP’s leadership in delivering high-impact advisory solutions to private equity clients, its expertise in structuring and executing complex transactions, and its commitment to linking global investors with sustainable growth opportunities in Africa.

Now in its tenth year, the AGF Africa Service Providers Awards celebrate firms that demonstrate innovation, strong execution, and significant contributions to Africa’s investment landscape.

Read Also: AEC to host G20 Africa Energy Investment Forum in Johannesburg

Verdant IMAP’s recent transactions include advising Ctrack, owned by private equity investor Convergence Partners, on a $23 million capital raise, and supporting Miro Forestry in its capital raise involving Lagatta and existing shareholders.

Reacting to the win, Edmund Higenbottam, Managing Director of Verdant Capital, said the recognition affirms the firm’s position as a leading independent investment banking advisory in Africa.

“This award reflects the dedication, professionalism, and expertise of our team. We are grateful for the opportunity to help our clients and partners achieve lasting success across the continent,” he said.

Verdant IMAP’s advisory strength lies in its integrated transaction support—from origination and structuring to capital raising and closing—across sectors such as financial services, technology, telecoms, industrials, agro-industrial, and climate finance.

The firm also benefits from its affiliation with IMAP, a global M&A partnership of over 450 professionals in 51 countries, consistently ranked among the world’s top 10 mid-market advisors.

AfDB approves $6m grant to boost disaster risk management across Africa

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The Board of Directors of the African Development Bank Group (AfDB) has approved a $6 million grant to support the African Risk Capacity (ARC) in enhancing disaster preparedness and risk financing across the continent over the 2025–2026 period.

Approved on October 29, the grant—provided through the Bank’s African Disaster Risk Financing Initiative (ADRiFi)—will enable ARC to sustain its core capacity-building and disaster risk management services for regional member countries.

The initiative aims to help African governments shift from reactive disaster responses to proactive preparedness. It will strengthen national institutions by improving technical expertise, developing early warning systems, and equipping policymakers and experts with evidence-based tools for risk assessment and response.

Read Also: AfDB, Angola launch $125m project to boost youth entrepreneurship

A major component of the project will focus on improving how countries plan and allocate resources during emergencies. It will also help build stronger institutional frameworks to ensure faster, more coordinated responses to natural disasters.

The ARC will expand participation in its sovereign insurance risk pool, offering new climate risk insurance products and engaging with member states to promote treaty ratification and finalize country work programmes. The project will also facilitate insurance premium support to help nations access coverage.

Implementation will span all ARC member states, prioritizing regions most vulnerable to droughts, floods, tropical cyclones, and epidemics. Beneficiaries will include policymakers, technical experts, and civil servants, who will receive targeted training in disaster risk quantification, contingency planning, risk financing, gender inclusion, and monitoring and evaluation.

Oando reports ₦210bn profit, up 164% in nine months

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Lagos, Nigeria – November 2, 2025: Oando PLC, Nigeria’s leading indigenous energy group listed on both the Nigerian Exchange and the Johannesburg Stock Exchange, has posted a Profit After Tax (PAT) of ₦210 billion for the nine months ended September 30, 2025 — a 164% increase compared to ₦76 billion recorded in the same period last year.

The strong performance was driven by higher production volumes and operational efficiency following the company’s acquisition of Nigerian Agip Oil Company (NAOC) assets in 2024. Group revenue, however, declined by 20% year-on-year to ₦2.5 trillion, largely due to a reduction in gasoline imports as the Dangote Refinery ramps up production and reshapes Nigeria’s refined-products market.

Commenting on the results, Wale Tinubu, CON, Group Chief Executive of Oando PLC, described the period as transformational.

“Our assumption of operatorship following the NAOC acquisition has granted us agility to act decisively and execute with precision. This has translated into production growth and improved efficiency,” he said.

Read Also: AFC secures $100m FinDev Canada loan for sustainable infrastructure

The Group recorded an average daily production of 38,121 barrels of oil equivalent (boepd), a 59% year-on-year increase, reflecting gains from the NAOC acquisition and improved asset uptime. The revamp of Oando’s natural gas liquids (NGL) processing plant also contributed to performance, achieving 82% operational uptime and enhanced recovery rates.

To strengthen its financial position, Oando increased its Reserve-Based Lending (RBL 2) facility to $375 million, providing greater flexibility for the development of its 1 billion barrels of oil equivalent (boe) upstream portfolio. It also renegotiated key credit facilities on more favorable terms to free up liquidity for drilling and infrastructure projects.

The company expanded its footprint beyond Nigeria, securing operatorship of Block KON 13 in Angola and emerging as the preferred bidder for the Guaracara Refinery in Trinidad & Tobago, marking its entry into the Caribbean downstream market.

In its downstream trading business, Oando lifted 21 crude cargoes (19.8 million barrels), up from 15 cargoes (16.7 million barrels) a year earlier, as the division shifted focus to higher-margin crude and gas opportunities.

Beyond hydrocarbons, Oando advanced its clean energy initiatives, including plans for a 1.2GW solar PV assembly plant, a 6MW geothermal pilot, and a PET recycling facility with a capacity of 2,750 tons per month, underscoring its diversification strategy.

The company also completed the first tranche of its 1.28 billion-share distribution programme, delivering a 5.33% dividend yield—its first direct payout to shareholders in several years.

During the period, Mrs. Folashade Ibidapo-Obe was appointed Chief Compliance Officer and Company Secretary, reinforcing Oando’s governance framework.

Looking ahead, Oando reaffirmed its full-year production guidance of about 40,000 boepd and capital expenditure of $120–130 million, focused on drilling, infrastructure optimization, and ESG initiatives.

“As we enter the final quarter of 2025, our priority remains strengthening the balance sheet, expanding production, and sustaining long-term value creation,” Tinubu added.

Luanda hosts 3rd summit on financing infrastructure in Africa

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Angola, under its presidency of the African Union (AU), has hosted the 3rd Summit on Financing Infrastructure for Development in Africa, a major continental forum aimed at accelerating sustainable and inclusive infrastructure growth across the continent.

Held from October 28 to 31, 2025, in Luanda, the high-level event brought together African and European political leaders, investors, financial institutions, business associations, academics, and multilateral organizations to explore strategies for mobilizing long-term financing for Africa’s infrastructure development.

This year’s summit, themed “Connecting Africa, Building the Future,” focused on strengthening Africa–Europe partnerships, promoting green and sustainable investment, encouraging public-private partnerships (PPPs), and supporting cross-border projects that drive regional integration. It also emphasized the importance of innovation, sustainability, and resilience in infrastructure planning and execution.

Read Also: AFC secures $100m FinDev Canada loan for sustainable infrastructure

The four-day event featured plenary sessions and thematic panels on energy transition, digital connectivity, and financing innovation, alongside an exhibition of infrastructure projects currently under development in several African countries. It also included bilateral and multilateral meetings aimed at fostering dialogue between governments, investors, and financial institutions, as well as networking sessions to promote strategic partnerships and technical cooperation.

Organizers said the summit serves as a critical platform for building trust and cooperation between Africa and its global partners, particularly in addressing funding gaps for major projects in energy, transport, water, and communications.

The choice of Luanda as host city underscores Angola’s growing role as a driver of regional cooperation and its commitment to advancing African-led solutions to the continent’s infrastructure challenges.

The summit aligns with the African Union’s Agenda 2063 and the United Nations Sustainable Development Goals (SDGs), reflecting Africa’s shared vision to build resilient, innovative, and inclusive infrastructure systems that connect communities and power future growth.

Emirates marks 30 years of operations in Nairobi, strengthening Kenya–UAE ties

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Emirates, the world’s largest international airline, is celebrating 30 years of operations in Nairobi, marking three decades of connecting Kenya to the world through its global network.

Since launching its first flight to the Kenyan capital in October 1995, Emirates has carried over 6.6 million passengers on more than 34,250 flights, linking Nairobi to over 145 destinations worldwide.

Currently served by double daily Boeing 777 flights, the route remains one of the busiest on the airline’s African network, facilitating trade, tourism, and investment between Kenya and international markets.

Emirates’ Country Manager for Kenya, Christophe Leloup, described Nairobi as “one of the most consistently busy destinations on our African network,” adding that the airline remains committed to supporting Kenya’s aviation, tourism, and trade growth for decades to come.

To enhance connectivity, Emirates and Kenya Airways signed an interline partnership in 2023, allowing one-ticket travel across both networks. Since then, more than 31,000 passengers have benefited from the partnership, with popular onward destinations including Rwanda, Tanzania, Malawi, Mozambique, and Burundi.

Read Also: Top 50 most powerful Passports in the World 2025

In 2024, Nairobi became home to Africa’s first Emirates World Travel Store, an immersive retail space offering travel advice and personalized booking experiences.

Beyond passenger services, Emirates SkyCargo has played a critical role in Kenya’s export economy, transporting over 16,000 tonnes of fresh-cut flowers in 2024 alone, helping maintain Kenya’s status as one of the world’s top four flower producers.

The airline also contributes to local employment, with over 1,100 Kenyans working for the Emirates Group worldwide, including 254 cabin crew and 41 pilots.

Emirates’ community impact extends through the Emirates Airline Foundation, which supports Kenyan humanitarian organizations such as The Little Prince Nursery and Primary School, Alfajiri Street Kids, and Starehe Boys’ Centre, focusing on child welfare, education, and social development.

As Kenya and the UAE deepen economic cooperation through a Comprehensive Economic Partnership Agreement signed earlier this year, Emirates’ 30-year milestone underscores its enduring role as a bridge between the two nations.

Coca-Cola generates $724m economic impact, supports 37,000 jobs in Morocco – Study

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The Coca-Cola system in Morocco has contributed $724 million to the national economy and supported over 37,000 jobs across its value chain in 2024, according to a new socio-economic impact study conducted by global consulting firm Steward Redqueen.

The findings were announced during the inauguration of two new production lines at Equatorial Coca-Cola Bottling Company’s (ECCBC) Casablanca facility, highlighting Coca-Cola’s growing footprint and long-term commitment to Morocco’s economic development.

According to the report, the Coca-Cola system – comprising The Coca-Cola Company and its authorized bottlers – generated 2,273 direct jobs and supported more than 35,000 indirect and induced jobs through suppliers, partners, and retailers. This translates to 15 additional jobs created across the economy for every one directly employed by the system.

“These findings reaffirm the Coca-Cola system’s role as a driver of shared value in Morocco’s economy,” said Farid Benchekroun, Managing Director of ECCBC Morocco. “Our business is deeply connected to local communities, and we remain committed to creating opportunities for our people, partners, and the communities we serve.”

The study also revealed that Coca-Cola sourced $302 million worth of goods and services from Moroccan suppliers in 2024, supporting industries such as sugar production, packaging, logistics, and marketing.

Read Also: Africa’s upstream oil sector poised for gradual recovery in 2026 – AEC

“Morocco is one of our most strategic markets in Africa, where we have been present for decades,” added Charbel Beyrouthy, General Manager, The Coca-Cola Company Morocco. “Our goal is to refresh the world and make a difference — by supporting livelihoods, enabling entrepreneurship, and building long-term community resilience.”

Over the past five years, ECCBC has deepened its presence in Morocco through its acquisition of Atlas Bottling Company, reinforcing its strategy to invest, produce, and distribute locally.

Beyond its economic impact, Coca-Cola continues to advance sustainability efforts through initiatives such as the Africa Water Stewardship Initiative, a $25 million program running through 2030 to improve water security in 20 African countries, including Morocco.

“The assessment clearly shows the depth and breadth of the Coca-Cola system’s footprint in Morocco,” said Teodora Nenova, Managing Partner at Steward Redqueen. “This is not just about direct contributions—it’s about the far-reaching value created through local partnerships and supply chains.”

Suriname partners CEW 2026 to drive local content growth

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The Suriname Business Forum (SBF) has been announced as a strategic partner for the upcoming Caribbean Energy Week (CEW) 2026, further strengthening collaboration between Suriname’s private sector and regional energy stakeholders.

Founded in 2007, SBF serves as a key platform for promoting private sector development and fostering collaboration between the public and private sectors in Suriname. The forum’s initiatives—such as the Suriname Business Development Center—focus on entrepreneurship, trade, and job creation, particularly in response to new opportunities emerging from Suriname’s growing oil and gas industry.

The partnership with CEW 2026 aligns with national efforts to ensure that the country’s energy boom translates into tangible economic benefits. President Geerlings-Simons recently announced plans to launch a National Local Content Program in 2026, which will prioritize local hiring, regional training centers, and financial hubs for businesses.

Read Also: AfDB, Angola launch $125m project to boost youth entrepreneurship

Sandra Jeque, International Conference Director at Energy Capital & Power, described the collaboration as a vital step in connecting Surinamese businesses with global energy players.

“Through our partnership with the Suriname Business Forum, Caribbean Energy Week is proud to provide SBF members with direct access to international investors, policymakers, and energy leaders,” she said.

As an official partner, SBF will help bridge local enterprises with international investors and organizations shaping the Caribbean’s energy future.

Scheduled to take place from March 30 to April 1, 2026, in Paramaribo, CEW 2026 will be held under the theme “Leveraging Energy Diversity Across the Caribbean.” The three-day event will bring together policymakers, investors, and innovators to explore investment opportunities and regional energy collaboration.

For participation details, interested parties can contact sales@energycapitalpower.com
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