In The Spotlight

Flutterwave empowers businesses across multiple industries to streamline payments, lower transaction costs, and scale efficiently in both domestic and global markets. (Image source: Adobe Stock)
Flutterwave, a leading payments technology firm in Africa, has obtained a Payment System License to operate in Zambia
This approval enables Flutterwave to provide secure and cost-effective mobile money services to businesses in Zambia, fostering both local and international commerce while enhancing financial inclusion and economic growth.
Zambia presents a strong growth opportunity for Flutterwave, given the country’s rising internet penetration and widespread reliance on mobile money for daily transactions. Mobile money services account for nearly 70% of Zambia’s financial inclusion rate. With its mobile money collection and payout solutions, Flutterwave empowers businesses across multiple industries to streamline payments, lower transaction costs, and scale efficiently in both domestic and global markets.
“Zambia is a market with enormous potential for growth and innovation, so we are excited to bring our payment solutions here,” said Olugbenga ‘GB’ Agboola, founder and CEO of Flutterwave. “Our goal is to provide businesses across the entire African region with the tools they need to compete not just locally but globally. Flutterwave’s infrastructure now stretches across the majority of Africa and with our new license in Zambia, we are one step closer to achieving our mission. At Flutterwave, we believe that by simplifying payments, we can unlock new opportunities for businesses in Zambia and contribute to the country’s broader economic development.”
For international businesses expanding into Zambia, Flutterwave offers a dependable payment gateway, facilitating smooth local transactions and supporting a wide range of payments, including consumer and business-to-business transactions. Likewise, Zambian businesses seeking global market access can leverage Flutterwave’s cross-border payment solutions to receive payments from the diaspora and conduct international trade seamlessly.
“Acquiring the Payment System License in Zambia is a crucial step in our Pan-African expansion strategy,” said Oluwabankole Falade, chief regulatory officer at Flutterwave. “This license allows us to not only support Zambian businesses in growing and competing globally but also to ensure that our operations are in full compliance with local regulations. We are deeply grateful to the Bank of Zambia for their trust and for the opportunity to work within Zambia's financial ecosystem. We are committed to collaborating closely with the Bank of Zambia and other regulatory bodies to promote financial innovation and drive economic growth.”
With a presence in over 30 countries, Flutterwave has established itself as a trusted payments partner for businesses across Africa. Its expansion into Zambia underscores its dedication to empowering African enterprises and advancing economic growth through digital payments.
Expanding off-grid renewables will be essential to bring electricity to remote homes across sub-Saharan Africa, says the International Renewable Energy Agency (Irena)
In an update — timed to concede with SADC Sustainable Energy Week in Botswana this week — Irena called last year’s COP28 UAE consensus a ‘turning point’ in the global energy transition, committing to triple installed renewable energy capacity to 11.2 terawatts and double the global rate of energy efficiency improvements by 2030.
It noted that off-grid renewables will be integral to this goal, especially in developing regions of Africa.
“They not only contribute to renewable energy capacity and enhance energy efficiency at the local level, but are also uniquely positioned to expand electricity access and advance the Sustainable Development Goals (SDGs) in rural and remote communities,” the update stated.
In the global context, this will be essential to sub-Saharan Africa especially.
While the number of people that lack access to electricity dropped from 1 billion in 2014 to 685 million in 2022, Irena noted that the gains in global electricity access has almost flatlined since 2018, particularly in remote and rural areas of sub-Saharan Africa.
This has led the region to now account for 83% of the global access deficit — a “concerning” increase from 50% in 2010.
“This is where off-grid renewables can play a significant role,” it noted.
“Off-grid renewable energy solutions like solar home systems and mini-grids have emerged as lifelines for remote, last-mile communities, bringing electricity access to low-income households in underserved areas. These systems have enabled essential services and powering rural economies, benefiting 155 million people in 2023.”
Although small in scale, their socioeconomic and environmental impacts can be profound, Irena added, unlocking socio-economic benefits and contributing to multiple SDGs.
Benefits include improved healthcare delivery, increased access to clean water and sanitation, and education, allowing students in remote areas to extend study hours because of better lighting and electricity.
The Abu Dhabi-based agency called for an acceleration in efforts to roll-out off-grid renewables across the continent.
“Given the role they play in climate and development goals in rural areas, off-grid renewables deployment efforts in developing countries should be accelerated, underpinned by strong international cooperation and multi-stakeholder partnerships, which Irena has been advocating for,” it stated.
It identified key ways to do this such as integrating off-grid renewables into national and regional electrification strategies and plans, introducing supportive policies and regulations, and nurturing the development of local manufacturing and assembling supply chains.
In support of the scale-up of off-grid renewables, Irena provides technical platforms, establishes multilateral partnerships and facilitates knowledge-sharing — including through its biennial International Off-grid Renewable Energy Conference (IOREC), which is timed this year with SADC Sustainable Energy Week, taking place from 24-28 February 2025.
This year’s IOREC in Botswana explores ways to scale up off-grid solutions to advance sustainable growth and development in Africa and beyond.

The Africa Energy Indaba 2025 will unite leaders to address Africa’s escalating energy crisis, fostering sustainable and resilient solutions. (Image source: Adobe Stock)
The recent escalation to Stage 6 load shedding in South Africa, alongside severe power outages in neighbouring nations, highlights Africa’s pressing energy challenges
The upcoming Africa Energy Indaba, scheduled for March 4–6, 2025, at the Cape Town International Convention Centre (CTICC), presents a crucial platform for addressing these issues.
The economic impact of load shedding
Frequent power outages severely disrupt industrial and commercial activities, leading to productivity losses, revenue declines, and increased operational costs as businesses turn to alternative energy sources. Small and medium-sized enterprises (SMEs) are especially vulnerable, often lacking resources to mitigate these disruptions.
On a macroeconomic level, prolonged power shortages hamper foreign investment, slow economic growth, and drive unemployment. The unpredictability of the energy supply undermines investor confidence, stalling long-term development. Additionally, households face rising costs and reduced disposable income, impacting consumer spending and economic activity.
Regional energy challenges
South Africa is not alone in facing energy instability. Zimbabwe endures up to 19-hour daily blackouts due to challenges at Hwange Power Station, while Zambia faces 21-hour power cuts as drought conditions deplete Lake Kariba’s hydroelectric output.
These interconnected crises emphasize the urgent need for sustainable, resilient energy infrastructure across the continent. The Africa Energy Indaba will bring together industry leaders, policymakers, investors, and innovators to explore viable energy solutions.
Key Features of Africa Energy Indaba 2025
- High-Level Panels & Keynotes – Focused on energy security, diversification, and resilient power infrastructure.
- Technology Exhibition – Showcasing renewable energy innovations, energy storage, and grid management solutions from global leaders.
- Strategic Networking Opportunities – Enabling partnerships to boost investment and energy sector development in Africa.
- Policy & Regulation Discussions – Engaging governments and regulators to advance sustainable energy policies.
As African nations grapple with energy insecurity, the Africa Energy Indaba 2025 will serve as a collaborative forum to forge a sustainable and resilient energy future for the continent.
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In the final webinar of its African Review-hosted 2023 campaign, Convergent Group explored its modern, eco-friendly concrete solutions for African projects
Such solutions – delivered to cut maintenance costs by eliminating hazardous silicate products – were showcased by company experts in the form of Jean-Claude Biard, SEO of Convergent Group SA; Mputu Schmidt, former CEO of Convergent Group SA and founder of Bondeko MB (exclusive distributor of Convergent Group in Africa); Carlos Garcia, technical and sales for ADI Group (Spanish distributor for Convergent Group); and Amritpal Singh Sura, external consultant for flooring treatments, former distributor of Convergent products in the Middle East.
“A number of projects we were doing in the Middle East required protection,” remarked Sura. “Longevity of protection requires a system which basically impregnates and becomes a densified surface as opposed to something which is topical and lifts off due to moisture migration. I found that being exposed to Convergent, it was important to stay focused on those systems in the Middle East. Jean-Claude, Mputu and I met several times in Dubai and there was emphasis on providing systems which were affordable and still ending up having a robust, lasting longevity of product. So you are not spending money all the time in order to maintain the finishes which you have already paid for.”
Over the course of the session, the participants guided the audience through the potential of cutting-edge lithium silicate technology for enhancing the protection of concrete surfaces, maximising cost-effectiveness and meeting sustainability targets.
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In a comprehensive webinar hosted by African Review, a panel of professionals associated with Convergent Group explored new generation lithium silicate technology and why it is emerging as the optimum solution for concrete floor protection.
Robert Daniels, editor of African Review, was joined by Jean-Claude Biard, CEO of Convergent Group; Mputu Schmidt, former CEO of Convergent and founder of Bondeko MB, an exclusive distributor of Convergent; Hicham Sofyani, president of Texol; Carlos Garcia, technical and sales for ADI Group; and Marc Puig, commercial manager of Comace Import.
Each providing a unique angle, the panellists combined to provide a masterclass around concrete treatments and the increasing challenges around them, explaining to attendees how to choose the right formula for their requirements and touching on issues such as why lithium densifiers are better than sodium and potassium densifiers.
Throughout the session, those watching were treated to informative case studies showcasing how Convergent eco-friendly products are increasing abrasion resistance, raising ease of maintenance, and ensuring the highest quality gloss retention.
By the end of the webinar, a majority of attendees (many of which had not had much experience with Convergent) expressed their interest in using the company’s new generation lithium silicate technology with the rest indicating their desire to learn more about Convergent and its products. Watch the webinar, in full, to discover why viewers were convinced and learn more about advanced floor care solutions for your operations.
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Presenting on an African Review-hosted webinar, Martin Provencher, global industry principal for mining, metals and materials at AVEVA, explored the digital transformation of mining operations and its impact on sustainability.
“Sustainability is becoming a key aspect for mining operations,” remarked Provencher. “If we look at the latest EY research on the top ten business risks and opportunities for mining and metals globally in 2023, ESG remains at the top. Of course, most companies have environmental goals or are expected to reach a net zero emission by 2050, which is a pretty aggressive target. Many of them are targeting 30% reduction by 2030; seven years from now. So there is a lot of action that needs to take place quickly to get there. It is possible to get there, but we need to make sure we are doing this correctly.”
Fast becoming a huge part of ESG initiatives is fleet electrification where particular progress is being made in underground mines. While some countries are certainly more advanced than others here, Provencher noted that 40% of total emissions from the mining industry come from diesel trucks, making EVs a very attractive low-hanging fruit for companies to pursue.
There are, however, a number of challenges associated with bringing in electric vehicles which remains a barrier for introduction. One of the predominant reasons, is the limited range of EVs against diesel counterparts. To mitigate this, Provencher continued, data management is key and ensuring a strong grasp of real-time information coming in will show operators when machinery needs to be charged, allowing them to plan effectively for maximum efficiency on site.
Indeed, this is but a small advantage that digitalisation can bring to the mining industry as it grapples to meet ESG goals while achieving production targets. By getting a better grip of their data and using it to empower tools such as artificial intelligence, advanced analytics and machine learning, companies can achieve tangible benefits such as reduce downtime, enhance worker safety, cut operating costs and, of course, ensure compliance with environmental regulations and targets.
Through the course of the webinar, Provencher outlined this in more detail and explored AVEVA’s suite of cutting-edge software solutions, specifically designed to help mining companies make progress on their digitalisation journey and empower their operations.
Watch the full webinar, completed with detailed case studies and an insightful Q&A session.
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Convergent, in association with African Review, has held a detailed webinar exploring the usage and effectiveness of lithium silicates and densifiers over traditional methods of concrete surface management which often struggle to meet the increasing challenges posed by concrete surface management.
Convergent experts including Mputu Schmidt, CEO of Convergent; Carlos Garcia, product manager end-user solutions, construction chemicals, Spain and Portugal for the RD Group; Matteo Mozzarelli, CEO of concrete Solutions Italia; and Jean-Claude Biard, global senior executive for the Convergent Group, presented across the session.
Together, they delved into the latest cost-effective application methods for long lasting finishing of concrete that can help reduce maintenance costs and avoid unexpected repair action. In addition, they examined the advancements in technologies that can sustain increased abrasion resistant stains and ensure gloss retention to the highest quality.
As part of the webinar, the representatives explored case studies including a case in DRC where a medical centre had been constructed with a low-quality concrete floor. The customer was considering completely replacing the floor but instead, Convergent put forward a special treatment with its 244+ Pentra-Sil lithium hardener, densifier and sealer. With this solution, Convergent can increase the hardness of a surface by up to 40% and therefore saved the customer significant recuperation costs over a complete replacement. Convergent were happy to report that the solution was perfect for the facility and the customer was pleased to avoid the extra construction work that would have been required for a complete replacement.
Watch the full webinar, including more information about Convergent’s innovative solutions.

Scatec completes the sale of its 51% stake in African hydropower projects to TotalEnergies, aligning with its strategic focus. (Image source: Scatec)
Scatec ASA has completed the sale of its 51% stake in its African hydropower joint venture with Norfund and British International Investment (BII), aligning with its strategic direction
This follows the initial announcement in a stock exchange notice on 30 July 2024.
The deal closed at an agreed price of US$167mn, based on a valuation date of 31 December 2023. After adjusting for cash movements between the valuation and closing dates, the net proceeds are estimated at US$161mn. These funds will be allocated to Scatec’s self-funded growth strategy and corporate debt reduction.
Hydropower asset sold
The transaction includes the operational 255 MW Bujagali hydropower plant in Uganda, as well as a development portfolio featuring the 361 MW Mpatamanga project in Malawi and the 206 MW Ruzizi III project, spanning Rwanda, the DRC, and Burundi. Additionally, as part of the agreement, the Hydro Africa team will transition to TotalEnergies under the newly formed entity SN Power AS.
Scatec CEO Terje Pilskog stated, “We are pleased with closing the transaction to sell our stake in the African hydropower assets to TotalEnergies. The divestment is in line with our strategy to optimise our portfolio and focus the majority of our investments in our core markets and on solar, onshore wind and battery energy storage. We are confident that TotalEnergies will be a strong owner going forward. I would especially like to thank the hydropower team that now moves to TotalEnergies for their hard work and dedication over the years.”
The sale has resulted in a proportionate accounting effect of approximately US$30mn and a consolidated effect of around US$50mn, primarily influenced by foreign currency fluctuations. These impacts will be recorded in Scatec’s financial results for the first quarter of 2025.

The first section of the Lagos-Calabar highway to be completed this year. (Image source: Adobe Stock)
Nigeria's Hitech Construction Company is powering on with work on the first section of the Lagos-Calabar highway project, with the initial stretch set to be completed by the end of 2025, Minister of works David Umahi said in an update this week
Work began last year on the 700-km coastal highway project that will run from Victoria Island, Lagos to Calabar in Cross River State.
The first phase of the project, led by local contractor Hitech Construction Company, stretches 47 km out of Lagos towards Calabar.
The full project, which will connect the western and south-eastern regions of Nigeria, passing through a number of other states including Ogun, Ondo, Delta, Bayelsa, Rivers and Akwa Ibom State, before ending in Calabar, is scheduled for completion in eight years’ time.
Sections three and four of the highway are expected to commence from Akwa Ibom and Cross River States, respectively.
In May 2024, President Tinubu said the Lagos-Calabar highway project would provide direct employment for thousands of people and indirect jobs for tens of thousands.
He added that it would also open economic opportunities for millions of others across the south of the country, providing faster travel times and access to new trade centres and markets.
Umahi provided his latest update during an inspection of works on another major highways project, the Abuja-Kaduna-Zaria-Kano dual carriageway.
He said in a statement published on the Federal Minister of Works website that the Abuja-Kano road was also of the utmost importance to Nigeria because of its economic value to the country.
“We are committed to ensuring its timely completion,” he said.
At the start of March, that included work to begin laying an eight-inch continuous reinforced concrete pavement, Umahi added.
The major highways programme is also providing a boost to Nigeria's construction sector.
“The Federal Government remains resolute in its commitment to quality infrastructure development, ensuring that all projects under the Ministry’s supervision must meet the highest standards and be completed on schedule,” said Umahi.
The government recently mandated that contractors must work on-site for at least two weeks before receiving mobilisation fees in a bid to ensure that only dependable and committed firms take on major road projects to reduce cases of abandoned construction sites.
Read more:
Nigeria and Cameroon border post upgrade to raise efficiency
Apapa-Oshodi road to revive commerce around the area says Nigerian minister
AfDB and Ecowas sign agreement on Abidjan-Lagos highway project

Kamoa-Kakula’s senior management and projects team celebrating the completion of the on-site copper smelter and the first delivery of concentrate from Kamoa-Kakula to the concentrate blending facility. (Image source: Ivanhoe Mines)
Ivanhoe Mines executive co-chairman Robert Friedland and president & CEO Marna Cloete have provided an update on year-to-date production at the Kamoa-Kakula Copper Complex and the ultra-high-grade Kipushi zinc mine, both located in the Democratic Republic of the Congo (DRC)
In January, Kamoa-Kakula achieved near-record copper production of 45,477 tonnes, followed by 40,849 tonnes in February, despite the shorter month. Daily copper production averaged 1,467 tonnes per day (tpd) in January and 1,459 tpd in February, just below the record 1,518 tpd set in December 2024.
During the last week of February, copper production reached 11,122 tonnes, equating to an annualised rate exceeding 578,000 tonnes—positioning it at the upper end of the 2025 guidance range of 520,000 to 580,000 tonnes.
Power supply and backup generation
Kamoa-Kakula’s Phase 1, 2, and 3 operations have been powered by approximately 100MW of hydroelectric power, covering two-thirds of the required energy, with the remainder supplied by on-site diesel generators. Talks are in progress to increase imported hydroelectric power by an additional 20MW by the end of the month.
Water levels have improved at the Cahora Bassa hydroelectric dam in Mozambique, Kamoa-Kakula’s primary power source, as well as at Zambia’s Kariba dam.
According to the Club of Mozambique on March 4, 2025, "Current water levels in the Cahora Bassa reservoir guarantee the production of electricity until the last quarter of this year. This is the result of the water reserves accumulated during this rainy season, after levels fell to 19.18% in January, the lowest level in recent times." Cahora Bassa Hydroelectric Plant Chairman Tomás Matola stated, "With the rainfall that fell in February, we were able to recover and our hydro-meteorological forecasts show that more rain is coming and storage will naturally increase."
Kamoa-Kakula has 190MW of installed diesel backup power, with up to 50MW currently in use. Of this, 36MW of capacity is undergoing repair, as previously reported in January. The total power requirement for full operation of Phases 1, 2, and 3, along with the smelter, is approximately 240MW. Efforts to secure additional grid-supplied power for the smelter heat-up are ongoing, with the process expected to begin in May or June 2025.
Project 95 advancing on schedule
Kamoa-Kakula’s "Project 95" is progressing as planned, now 20% complete and on track for Q1 2026 completion. This initiative aims to enhance concentrator recoveries from 87% to 95% with a US$180mn capital investment. It is expected to boost annual copper production by up to 30,000 tonnes, with a capital intensity of $6,000 per tonne of copper.
Kipushi Zinc production update
The Kipushi concentrator ramp-up continues, achieving record zinc production of 16,063 tonnes in January and 11,903 tonnes in February. Annualized production is approaching the 2025 guidance range of 180,000 to 240,000 tonnes of zinc in concentrate.
Since early 2025, concentrator recoveries have averaged 88%, with a concentrate grade of approximately 53% contained zinc. The nameplate milling rate of 2,000 tonnes per day was reached in late February, with further production and recovery improvements expected in the coming months.
Kipushi aims to exceed 250,000 tonnes of zinc in concentrate by 2026 following the completion of a debottlenecking program, which remains on schedule for late Q3 2025.
Also read: Africa’s gold rush accelerates growth

President William Ruto of Kenya and president Benedict Oramah of Afreximbank in Mombasa, Kenya. (Image source: Afreximbank)
African Export-Import Bank (Afreximbank) has signed a loan agreement to fund development and operationalisation of two major industrial parks and special economic zones in Kenya
The projects include the development of the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone (SEZ) II (Naivasha II).
The proposed industrial parks — to be developed by Afreximbank through its affiliate company, Arise Integrated Industrial Platforms (Arise IIP) — will create and sustain an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets, the bank said in a statement.
Arise IIP is a special economic zone developer with experience in the development of integrated industrial parks in Africa.
Afreximbank has also committed to a three-year US$3bn country programme to support trade and trade-related investments intended to bolster Kenya’s industrialisation and export manufacturing.
“These parks are an integral part of the government’s plan to boost the country's economic growth under the Vision 2030 development blueprint,” said Professor Benedict Oramah, president and chairman of the board of directors at Afreximbank.
The Dongo Kundu Industrial Park within the Mombasa SEZ is expected, upon completion, to boost the area with a state-of-the-art industrial park that will contribute significantly to economic growth and industrialisation efforts in Mombasa County and in Kenya as a whole.
The Naivasha II Special Economic Zone – Naivasha II project is located at Mai Mahiu and will include a free trade zone, an industrial park, a logistics zone and a public utility area with a supporting road network. The project will occupy an area of approximately 5,000 acres.
The Naivasha II project will also derive value from its strategic geographic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System, which comprises both a standard gauge railway and a major highway.
Moreover, the SEZ will be close to the Naivasha Inland Container Depot, which serves the East African hinterland countries of Burundi, the Democratic Republic of Congo, Kenya, Rwanda, South Sudan and Uganda.
Kenya’s President Dr. William S. Ruto, at the signing ceremony, commented: “The signing of these agreements…marks a significant milestone in Kenya’s development, expanding opportunities to enhance our manufacturing sector and create a more conducive environment for investment.”
Ecobank has expanded its innovative ‘Ellevate’ financing offer to further assist the growth of Africa’s women entrepreneurs
The bank has expanded its programme — now named ‘Ellevate 2.0’ to become “bigger, better and more inclusive”, it said in a statement, supporting individual entrepreneurs, including those in the formal and informal sectors.
“We recognise and applaud the role that women entrepreneurs play in driving socio-economic impact across Africa and are committed to supporting them at every stage of their entrepreneurial journey,” said Jeremy Awori, Ecobank’s CEO, Ecobank.
“Since the launch of the Ellevate programme we have made significant progress, disbursing over US$200mn in loans, providing business networking opportunities, and offering leadership and capacity-building training for businesswomen.”
From supporting corporate businesswomen, small and medium-sized entrepreneurs to individual entrepreneurs, and those in the informal sector, all can now benefit from its enhanced financial and non-financial solutions, he noted.
“Today, Ellevate 2.0 heralds in a new era for gender financing. It is bigger, better and more inclusive, delivering exceptional value to female entrepreneurs and women business leaders. Enhancing our products and solutions for women entrepreneurs to position Ecobank as their bank of choice is an integral component in accelerating the success of our Growth, Transformation and Returns strategy’s objectives. It also supports our group-wide objective of promoting gender equality and contributing to sustainable development.”
The initiative was first established to bridge the gender financing gap for Africa’s women entrepreneurs and to strengthen Ecobank’s commitment to women-owned, women-led, and women-focused businesses.
The enhanced Ellevate 2:0 offer now includes increasing access to finance with unsecured loans of up to US$50,000, competitive interest rates and favourable collateral requirements, as well as accommodating customers with a two-year track record instead of the industry-standard three years.
Ecobank has also pledged to help its clients identify new customers and access new markets across Africa through its innovative online matchmaking MyTradeHub platform.
The enhanced programme will be launched by nine of Ecobank’s affiliates in Burkina Faso, Cameroon, Côte d’Ivoire, Ghana, Guinea, Kenya, Senegal, Togo and Zimbabwe by the end of March 2025.
It will then be rolled-out in phases across all our other sub-Saharan African affiliates throughout the year.
The World Bank estimates that closing the gender gap in Africa could add US$2.5trn to the continent's GDP by 2025, underscoring the urgency of investing in women – not just for social justice, but for a more prosperous and equitable future for all Africans.
Read more:
Ecobank Group secures-US$112mn credit facility from EIB to fund SMEs
The Bank of Brazil will enter into an agreement with Mozambique to finance the construction of the Moamba Major dam that will provide drinking water for the Maputo metropolis