World
Africa Can Modernise Energy Sector via Smart Power—Whyte
By Dipo Olowookere
Head of the Energy, Mining and Infrastructure Practice at Baker McKenzie in Johannesburg, Mr Kieran Whyte, has said Africa has potential to revolutionise the energy sector through smart power innovation.
This, he said, the continent, within developing economies, can do because there are growing opportunities to implement new technologies and localised energy generation systems, that could lead to innovation that will change how the world generates, stores and distributes power.
“In Africa, new systems and networks can be designed around future environmental stressors and energy demands without having to take into account the limitations of old infrastructure. Africa therefore has an opportunity to lead the way in smart power innovation. Considering that Africa currently has insufficient generation and transmission capacity, encouraging smart power solutions is crucial,” Whyte says.
Mr Marc Fèvre, Partner at Baker McKenzie in London, notes that the combination of the rise of cost-effective renewable energy, the decentralisation of energy production, and improvements in energy storage, smart metering and other digital technology all have the potential to revolutionise the way power is generated and consumed, and Africa has a role to play in innovating these smart power solutions.
“Energy industry incumbents around the world, including in Africa, are reshaping their businesses to be able to seize the opportunities and to meet the challenges that come with increasing use of smart power.
“Opportunities in smart power include energy storage; smart cities and buildings; data monetisation and new ways of buying and selling power. All of these are blurring the lines between utilities and technology companies.
“With advanced use of mobile technology in Africa and the lack of existing electricity transmission networks, these developments provide an opportunity for communities in Africa to get access to power by leapfrogging the traditional model of generation and transmission of power,” he says.
According to Baker McKenzie’s report, The Smart Power Revolution – Opportunities and Challenges (report), which surveyed, more than 200 senior executives from corporates, developers, investors, banks and service providers worldwide, investment in smart power is rising. The results show that more than 40% of the energy companies in the survey said smart power is now a core part of their business, and 37% have established at least one business line related to smart power.
“Of all the types of smart power initiatives, energy storage tops the list. In the survey, 62% of businesses said they are planning to invest in energy storage technology in the next 18 months, followed by renewable energy projects with a smart power component (58%). Financial investors are also showing great interest in energy storage, with 93% of our respondents stating they consider these projects to be viable financing opportunities,” says Mr Fèvre.
According to the report, energy data monetisation is hindered in part by privacy and data usage restrictions. Although many energy companies are using data analytics to improve the efficiency of their operations, only 6% of our respondents said they have sold the information they collect about household energy consumption to third parties. Some 19% of respondents cite laws that prevent personal data from being shared without consumer consent as the greatest obstacle to monetization.
The report also reveals a wide divergence in utilities’ attitudes around exploring and adopting smart power. This is often influenced by the regulatory environment. The utilities who embrace smart power will likely blur the line between utilities and technology companies, with 75% of respondents stating that utilities will increasingly become more like technology companies.
“However, unfit and outdated regulatory regimes are hurdles to smart power advancement. In this survey, 77% of respondents said legal and regulatory frameworks were inadequate to address the coming smart power changes, while 91% believe governments and regulators are not well-prepared for advancements in smart power technology,” says Mr Fèvre.
“The energy sector investment in Africa has already begun to focus on implementing innovative solutions to changing demands and environments. Governments in Africa must now follow suit by adapting their legal and regulatory frameworks to encourage and protect this innovation in the power sector,” Mr Whyte adds.
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
