World
Seedstars, EU Invest $3.7m in Shamba to Boost Agri Input Distribution
By Adedapo Adesanya
Seedstars Africa Ventures and EDFI AgriFI, which is the European Union’s financing initiative responsible for investments in medium, small, and micro agri-enterprises (MSME) in developing countries, have announced a $3.7 million pre-series A investment in Shamba Pride, a pioneering Agri-based company in Kenya, to boost quality agricultural input distribution.
The investment arrangement will see EDFI AgriFI provide a long-term loan of $2 million, to foster sustainable development and economic growth in developing countries. Seedstars Africa Ventures on its part, committed an additional $1.7 million in equity, reaffirming its support to the company and catalysing investments into the company from international funds.
The investment aims to support Shamba Pride as it expands current activities in Kenya and develops additional services.
The financing will also enable the company to develop its franchise network and benefit from additional working capital to source agri inputs in bulk, which will increase the impact in rural areas.
As an agri-based SME, Shamba Pride addresses the crucial challenge of providing quality and affordable agricultural inputs, services, and information to smallholders in rural areas. The company has built a platform empowering last-mile agro-dealer shops, or agrovets, with digital services, namely enabling easy online ordering and purchase with weekly doorstep delivery of supplies, reducing out-of-stock situations. This model not only allows the creation of new jobs but also provides access to agricultural inputs for smallholder farmers in remote rural areas at more affordable prices.
Speaking on the deal, Shamba Pride CEO, Mr Samuel Munguti explained: “EDFI AgriFI joined this growth journey through an investment that propels Shamba Pride towards its vision of positively impacting the lives of some 200,000 farmers by the end of 2025.
The company has already grown its outreach by 10x since 2021 to reach over 220 shops, and the additional equity investment from Seedstars Africa Ventures alongside a trusted institutional financial institution is a significant milestone for the company to become a regional champion and a trusted brand for the industry.”
On his part, Mr Rodrigo Madrazo, Chief Executive Officer of EDFI Management Company, stressed the transformative outcome brought by the investment, noting: “Support for Shamba Pride reflects our commitment to empowering entrepreneurship in frontier markets, with a high impact felt in rural areas. By providing appropriate long-term debt alongside additional equity investment, EDFI AgriFI is poised to play a pivotal role in helping scale up Shamba Pride operations.”
“Shamba Pride’s success is based on innovations which facilitate the day-to-day farming activities. We’ve been proud to support a scalable model which creates additional revenues for farmers and agrovets and strongly contributes to successful women entrepreneurship”, noted Mr Maxime Bouan General Partner at Seedstars Africa Ventures, adding that the company would now grow to new heights and scale with larger corporate partnerships.
For Mr Robin Boereboom, AgriFI Senior Investment Officer, EDFI Management Company, added “We’re excited to support a locally grown and innovative digital initiative that is revolutionizing the agri input ecosystem in rural areas, with significant benefits for both agrovets and farmers.”
Ms Yvonne Chileshe, OACPS Expert on Value Chains from ACP Regional Window, expressed optimism, stating: “This investment showcases the need for strategic collaborations and financial support in advancing sustainable agriculture in developing countries.
“Shamba Pride allows the creation of a community of smart micro-entrepreneurs -most of them women and youth-led serving the smallholder farmer community. Thus, the growth of the company aligns with our goals to foster inclusive development.”
World
How Russia’s Multifaceted Relations Changing Egypt
By Kestér Kenn Klomegâh
The Arab Republic of Egypt, a country spanning the northeast corner of Africa and the southwest corner of Asia, has a highly strategic location and attracts multifaceted interests of foreign players. For decades, Russia has established diplomatic relations with Egypt and has consistently sustained diverse ties with this country. It is no secret that Russia’s lust for the region is primarily due to the strategic importance of the Mediterranean Sea for investment and economic cooperation with the Maghreb region.
Determined to strengthen, particularly, economic cooperation, Russian President Vladimir Putin has maintained regular contacts with his colleague, President of Egypt, Abdel Fattah el-Sisi, mostly discussing both bilateral cooperation and broader regional developments. The current world’s geopolitical development, for instance, the United States-Israeli war on Iran in the Middle East, constitutes one theme both leaders frequently review, attempting to find long-term solutions.
On April 2, Putin met with the Minister of Foreign Affairs, Emigration, and Egyptian Expatriates of the Arab Republic of Egypt, Badr Abdelatty, in the Kremlin – the seat of Russia’s presidency. In attendance during the official talks on the Russian side were Foreign Minister Sergei Lavrov and Presidential Aide Yury Ushakov, while Egypt was represented by Ambassador Extraordinary and Plenipotentiary to the Russian Federation Hamdy Shaaban. Ultimately, there is no need to overstate the importance of this meeting.
Russia’s footprints are expanding in Egypt, highlighting the growing industrial investment and the strengthening of bilateral manufacturing ties by undertaking projects to ensure energy security. At the same time, maintaining regular dialogue remains very important for both leaders.
Putin, speaking with the three-member delegation in the Kremlin, underlined the fact that there are many promising initiatives underway, many of which are already being implemented. He has previously spoken in detail about the construction of a nuclear power plant and the construction of an industrial zone, and over ten major Russian companies have expressed interest in participating in this project.
Nuclear Plants in El-Dabaa, Egypt
The construction of nuclear plants in the city of El-Dabaa, about 320 kilometres northwest of Cairo, the capital of Egypt. It is the first nuclear power plant in Egypt, and will have four VVER-1200 reactors, making Egypt the only country in the region to have a Generation III+ reactor. On November 19, 2015, Egypt and Russia signed an initial agreement, under which Russia agreed to build and finance Egypt’s first nuclear power plant. These are now being carried out, not as a charity project, but with a loan of $28 billion. According to reports, Russia will finance 85% as a state loan of $25 billion, and Egypt will provide the remaining 15% in the form of instalments. The Russian loan has a repayment period of 22 years, with an annual interest rate of 3%.
At the meeting, Putin also raised the construction of an industrial zone in Egypt. There are many appealing and related opportunities in this, regarding having an industrial zone to be located on the banks of the Suez Canal. The industrial zone is also entering a new phase, as Russian auto-manufacturing enterprises are advancing distinctive plans to expand local vehicle production, reinforcing the country’s role as a regional manufacturing hub. The move reflects broader economic linkages between Russia and Africa, particularly in industrial development and supply chain integration.
Conveying Greetings and Reviewing the Middle East Situation
Naturally, the situation in the region remains a shared concern, according to Putin, and further hope that the ongoing conflict will be promptly resolved. “As you know, President Trump also addressed this issue yesterday. Let me reiterate that we are prepared to make every effort to help stabilise the situation and, as they say in such cases, return it to normal,” he stressed during the meeting. In this context, it is particularly important to know Egypt’s assessment as a key country in the Middle East.
Putin reminded the delegation of another Russia-Africa summit, which is planned for October 2026. With high hopes that Egypt will be represented by a strong, high-level delegation. Should the Egyptian President’s schedule allow, he would, of course, ahead of the summit, be very pleased to welcome him to Moscow. Jointly chaired by Vladimir Putin and Abdel Fattah el-Sisi, the first Russia-Africa summit, an important acute phase of the developments with Africa, under the motto of ‘For Peace, Security and Development’, was held for the first time in October 2019, in Sochi, a city located on the Black Sea coast. The idea to hold a Russia-Africa forum was initiated by President Putin at the BRICS (Brazil, Russia, India, China and South Africa) summit in Johannesburg in July 2018.
The head of the Egyptian Foreign Ministry, as traditionally expected, conveyed greetings from President El-Sisi to the Russian president and handed over a written message. President el-Sisi places great value on all aspects of the bilateral cooperation, and is extremely grateful for constructive collaboration on the El Dabaa Nuclear Power Plant, which represents a key milestone in the partnership. Despite the challenges, it is evident that the project is moving forward and will be completed by 2028.
In summary, as Egypt and Russia are reliable and time-tested partners, Putin plans to promote strategic projects, particularly in trade, economics, energy, and food security. With over 107 million inhabitants, Egypt is the most populous country in the Arab world, the third-most populous country in Africa, and the 15th-most populous in the world.
World
US-Israeli War on Iran: Africa’s Reactions Through the Prism of the Global South
By Kestér Kenn Klomegâh
In an interview, Senator Mushahid Hussain, President of Pakistan-Africa Institute for Development and Research (PAIDR), explicitly offers a few important insights into the US-Israeli war on Iran and its implications for BRICS+ and Africa. Here are the interview excerpts:
What’s your interpretation of the US-Israel war on Iran, in the context of developments in the Middle East region?
The US-Israel illegal and unwarranted war on Iran was spearheaded by [Benjamin] Netanyahu (Prime Minister of Israel) and actively supported by [Donald] Trump (President of USA) as a Joint Operation with three fundamental goals: a) decimate the Islamic Revolutionary Regime; b) reshape the Middle East as part of Zionism’s ‘Greater Israel’ Project; c) preclude any possibility of establishing a Palestinian State with Jerusalem as its capital.
What is your assessment of Iran’s joining BRICS+ in 2025, China’s and Russia’s roles as members of this association, in this US-Israel war with Iran?
China and Russia have played, by and large, a low-key diplomatic role in supporting Iran but without any active political initiatives. BRICS is divided from within, as India is keen to curry favour with the USA and avoids close association with BRICS since the time that Trump attacked BRICS last year. But China & Russia are clear political beneficiaries of the war as American prestige is at an all-time low, having got entangled in an unwinnable war, resulting in weakening of the US ‘sole superpower’ image.
As an Asian expert, how would you characterise Africa’s reactions? And do you think that reactions were objectively authentic, basing perspectives broadly on Arab and Middle East contributions to Africa’s development?
Africa’s reactions to the war are primarily through the prism of the Global South, viewing Iran as resisting American-Israeli hegemonic designs, as, for example, manifested in two examples: South Africa’s rejection of American pressures to wean South Africa away from its support for Iran. Plus, Somalia joined Pakistan and China in supporting the Russian resolution in the UN Security Council seeking an immediate ceasefire and negotiations to halt the War, despite strident Western/US opposition to the Russian resolution.
World
Middle East War: World Trade Facing Worst Disruptions Since World War II
By Adedapo Adesanya
The Director-General (DG) of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, has said the global trading system is experiencing the worst disruptions in the past 80 years.
The trade body chief warned about the consequences as the WTO ministerial conference opened Thursday in Cameroon.
“The world order and the multilateral system we know has irrevocably changed,” she said, adding: “We cannot deny the scale of the problems confronting the world today.”
The organisation’s 166 members appear deeply divided as trade ministers gather in the Cameroonian capital for the WTO’s top conference, amid global economic turmoil linked to the Middle East war.
Over four days in Yaounde, WTO members will try to revitalise an institution weakened by geopolitical tensions, stalled negotiations, and rising protectionism — against the backdrop of the war in the Middle East, which poses a serious threat to international trade.
“The scale of the problems confronting the world today, even before the conflict in the Gulf, destabilised trade in energy, fertiliser and food,” Mrs Okonjo-Iweala said.
“National governments and international institutions alike have been struggling to navigate rising geopolitical tensions, intensifying climate pressures, and rapid technological change.
“Accompanying these shifts has been an increasingly loud questioning of multilateralism,” she added.
Mrs Okonjo-Iweala said these disruptions were just one symptom of broader upheavals shaking the international order created after World War II to prevent a repeat of the disasters of the first half of the 20th century.
“It feels appropriate that at the moment when the world is in turmoil with conflict in the Middle East, Sudan, Ukraine, and elsewhere, at this time of great disruption and uncertainty, we have gathered in Africa to discuss the road ahead for the global trading system,” she said.
“Africa is the continent of the future.”
WTO ministerial conferences are typically held every two years. The current edition in Yaounde is the second to be held in Africa, after Nairobi (Kenya) in 2015.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
