World
COP27: AU, AfDB, Others Launch $10bn Alliance for Green Infrastructure
By Adedapo Adesanya
The African Union (AU), the African Development Bank Group (AfDB), and Africa50—in partnership with several global partners—have launched the Alliance for Green Infrastructure in Africa (AGIA), an initiative to help scale and accelerate financing for green infrastructure projects in Africa.
The alliance is seeking to raise up to $500 million of early-stage project preparation and development capital with the goal of boosting project bankability and generating up to $10 billion in investment opportunities for the private sector.
The collaborating global partners working with the lead partners are the African Union Development Agency, the European Investment Bank, the European Bank for Reconstruction and Development, the French Development Agency, The Rockefeller Foundation, the US Trade and Development Agency, the Global Center on Adaptation, the Private Infrastructure Development Group, and the African Sovereign Investors Forum.
The launch ceremony took place on the sidelines of the ongoing 27th annual global climate summit (COP27) in Sharm El-Sheikh, Egypt.
The Alliance’s mission is to raise significant capital to accelerate Africa’s just and equitable transition to Net Zero emissions. It has two strategic objectives. The first is to generate a robust pipeline of bankable transformational projects. The second is to catalyze financing at scale and speed for Africa’s infrastructure.
The target, if and when reached, will be mobilized from a combination of co-investments, co-financing, risk mitigation and blended finance provided by Alliance members. This capital will also be drawn from other financial institutions and foundations, public and private global and African institutional investors, project sponsors, multilateral development banks’ sovereign operations, and from G-20 bilateral donors.
Speaking on this development, AfDB President Mr Akinwumi Adesina said: “The AGIA platform is a new platform that is fully aligned with the global call of the G7 leaders in June this year when they called for the partnership on global infrastructure and investment to mobilize $600 billion in infrastructure by 2027, especially to support sustainable, quality and climate-resilient infrastructure.”
Mr Adesina added: “We need you all, as the needs in Africa are simply enormous. Only by working together and pooling our resources together can we make transformative impacts and set Africa on a clear path to achieving NetZero emissions and mitigating climate change. Africa needs infrastructure financing, estimated at between $130 billion to $170 billion a year, with an infrastructure financing gap of up to $108 billion a year.
“But most of the infrastructure for Africa is yet to be built. This presents an enormous opportunity to get it right. Build green infrastructure that is climate-smart, and that is climate-resilient.”
African Union Commissioner for Energy and Infrastructure, Mr Amani Abou-Zeid, said: “As African institutions, we must focus on early-stage project preparation, de-risking interventions, and building a robust business environment to attract investors from all parts of the world. We want to galvanize around priority projects that combine all our efforts to deliver. We must now intensify our efforts and move faster and at scale.”
Africa50 CEO, Mr Alain Ebobissé, said: “I’m excited about AGIA’s mandate. It’s an initiative that is results-oriented, rapidly scaling projects from the concept stage to bankability. I look forward to partnering with more development institutions and private sector players within Africa and globally to leverage additional resources, so we can deploy the $10 billion we have set as a target for AGIA’s green, sustainable infrastructure investments.”
In his closing remarks, former Britain Prime Minister, Mr Tony Blair said: “We are only going to solve this problem by taking strong actions which are based on practical plans and implementation. It is important for governments to grow in a sustainable way. The question is not just how we manage to get the finance and investment into Africa but also how governments themselves prepare for the absorption of that finance, and that’s the other side of the equation, and that is why project preparation is so important.
“It’s always a partnership. I don’t think the problem is a lack of will or appetite on the part of Africa’s people or their governments. It’s a question of organization, of getting the right elements in place to make the vision a reality. And if I learnt anything in government, it’s that the hardest thing is to get things done. We can write reports and have great visions. But ultimately, it’s about implementation.”
World
Africa Takes Centre Stage as Addis Ababa Hosts the World Public Summit
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
World
UK Set for Seventh Prime Minister in 10 Years as Keir Starmer Resigns
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
World
AXIAN Energy Secures $60m for Expansion Across Africa
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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