Category: News

Key Topics from COP28: An African Perspective

  • 2nd December, 2023
  • 5 min reading

COP28: What to expect from this year’s annual gathering on climate change by Brent Barnette

As sure as December brings Mariah Carey, for the last few years, it has also meant that world leaders, climate activists, journalists, business leaders, civil society organisations, representatives from NGOs, and interested members of the public once again gather for another COP. And while all Mariah wants for Christmas is you, climate activists and world leaders, particularly those from Africa and the global south, are hoping for meaningful progress on the UN agenda for dealing with the threats and challenges brought about by climate change. With the objective of limiting global warming to 1.5 degrees Celsius above pre-industrial levels slipping out of reach, the push for financing meaningful support for the most affected and vulnerable communities is gaining greater urgency. 

For better or worse, COP is where the world comes together to try and agree on ways to address the climate crisis and meet the goals set out in the Paris Climate Accord. The 28th COP this year is being held in Dubai in the United Arab Emirates, and the parties will be hoping to find consensus on solutions to the many challenges facing the global community as the planet experiences year after year of ever-hotter temperatures. 

The COP agenda

As at past COPs, the agenda this year focuses heavily on the development of technology solutions to help reduce carbon emissions, the financing of those solutions, and the financing of adaptive approaches to help those most affected by climate change address the after-effects of climate-induced disasters and disruptions.   

The 2023 agenda is organised around 32 thematic areas over 12 days. The themes included are broadly outlined below (with some of the specific themes from COP28 in parentheses): 

  • Fostering solutions to address climate change (Innovation and Entrepreneurship; Climatetech Ecosystem Building; Technology for Climate) 
  • Creating adaptive solutions for impacted communities (Children; Gender and Inclusion; Youth; Industry / Just Transition / Indigenous People) 
  • Financing the transition to a sustainable future (Finance; Finance / Trade / Gender Equality / Accountability) 
  • Systemic challenges resulting from climate change (Education and Skills; Energy; Food; Agriculture and Water; Land Use and Oceans; Multi-Level Action; Nature; Relief, Recovery & Peace; Trade; Transport; Health). 

One of the key objectives for this year’s COP will be to resolve details around the implementation of carbon offset schemes as laid out in Article 6 of the Paris Agreement. Another key objective will be securing the necessary financing for the Loss & Damage Fund, which was agreed to last year at COP27 in Sharm El Sheikh, Egypt. 

This year also includes a global stocktake of how well individual countries are doing in meeting their commitments to reducing greenhouse gas emissions. The stocktake is a mechanism for assessing global progress towards achieving the emissions reduction goals as set out in the Paris Climate Accord. The current stocktake (which is also the first) began in 2021 in Glasgow at COP26 and is set to conclude this year at COP28. 

Why this is so important

If the goal of limiting temperature rises to 1.5 degrees Celsius is to be achieved, carbon emissions must be cut by 43% from 2019 levels by 2030. That means cutting CO2 emissions from 2019 levels of roughly 33.2 gigatonnes per year to 18.9 gigatonnes per year by 2030. At current growth rates, by 2030 we will be emitting closer to 50 gigatonnes of CO2 per year. Reversing current trends is crucial if the planet is to avoid a worst-case scenario of a greater than 2 degrees Celsius increase in global temperatures. 

Country representatives during the endorsement of the UAE Declaration on Climate Health at COP28. Image source: cop28.com

Climate change in Africa has arrived

Reducing carbon emissions and working towards a net-zero future are essential goals in order to ward off the worst effects of climate change. However, many of the impacts of a warming planet are already evident in the increasing climate disasters witnessed around the world over the past few years. Africa has been particularly hard hit. Of the 30 deadliest climate disasters recorded since record-keeping began in 1900, six have occurred since 2022. These include: 

Improvements in scientific techniques have made it possible to directly link any particular climate event to changes resulting from human-caused climate change. This new area of study is called attribution science. Since 2000, anthropogenic climate change has been directly linked by scientific attribution studies to more than 20 extreme weather events in Africa, including 13 droughts, seven floods, and two heat waves. 

COP28 and the African agenda

Africa is represented at all of the COP proceedings by a group called the African Group of Negotiators, or the AGN, which is currently chaired by Zambia. The AGN speaks collectively on behalf of Africa, arguing for climate justice, a just energy transition, and adequate funding to help the continent deal with the impacts of a changing climate. While Africa is responsible for less than 5 percent of global greenhouse gas emissions, the continent is disproportionately impacted by the effects of climate change. Some of the areas that will be covered from a specifically African perspective during the scheduled COP proceedings include the following:

  • Greater use of blended finance to support sustainability initiatives in key sectors such as energy, agriculture, water, and sanitation. There are untapped resources available for sustainable development financing, but to date these resources are underutilised. What can be done to mobilise this capital?  
  • The Africa Green Industrialisation event will be jointly hosted by the COP28 Presidency and the Government of Kenya. This event looks to highlight the implementation of the Nairobi Declaration and the UAE-led investment of $4.5 billion in the green industrialisation of Africa. The objective is to look for opportunities for green industrialisation, showcase successful renewable energy projects, and propel Africa towards a carbon-neutral future. 
  • The African carbon market story is a Heads of State event that will launch Carbon Market Activation Plans for Ghana, Rwanda, Nigeria, Mozambique, and Malawi to develop carbon markets in these countries. 

In addition to these events, a key area of discussion from an African perspective will be what it means to achieve a just energy transition. This is seen as an essential element in the ongoing economic development of Africa, allowing governments to lift people out of poverty and to provide electricity and reliable sources of energy for cooking. In practice, what this means is allowing for the continued exploitation of carbon-based sources of energy and for oil-producing states to continue to invest in oil exploration and extraction activities. Proponents of this approach say that it allows African economies to replicate the industrialisation process that allowed advanced economies to grow and prosper. Critics say it dangerously extends the timeline for achieving net-zero emissions targets and diverts investment away from renewables and other sustainable sources of growth. 

Endorsers of the COP28 UAE Declaration on Climate, Relief, Recovery, and Peace. Image Source: cop28.com

In conclusion: What all this means

Many world leaders have converged in Dubai with fresh reminders of the costs and impacts of climate change on their countries back home. African leaders will arrive to the talks with especially recent events in mind and will want to ensure that the countries most responsible for creating the climate crisis pay a fair share of the costs of helping those most affected deal with the impacts. 

Indeed, who foots the bill for what is probably the simplest summary of all the various discussions that will be taking place. Beyond paying for the costs of recovery, the mechanisms of financing the transition to a sustainable future will also be very much on the table for discussion. Whether there are disagreements over how to fund a just energy transition, financing the shift to a more sustainable industrialised future, or unlocking blended forms of financing to help pay for all of this, the question of who pays will no doubt dominate the talks. 

As the world continues to warm at an alarmingly rapid rate and as the very real impacts of climate change continue to disproportionately affect those least able to adapt, the imperative to find solutions—and to pay for them—gets greater every day.

About the Author.

Brent Barnette is a Director at ETK. He leads on our climate change agenda and in the development of service offerings to help clients pursue sustainable growth strategies, including the development of an African-focused ESG reporting framework. He writes on topics of climate change and economic growth and is passionate about creating solutions to address the problems caused by climate change in the global south.

Is Lagos ready to be a powerhouse in its own right?

  • 23rd November, 2023
  • 4 min reading

Lagos means different things to different people across the world. To some, it is the heartbeat of Africa’s economy, the place where everything in Africa goes to ‘ make it’. At the same time, others see it as a missed opportunity to be more than what it currently is. We can offer many other descriptions of what Lagos is, but one thing most people will agree on is that Lagos is unlike anywhere else in the world.

Lagos is Nigeria’s biggest economy and is responsible for around 20 percent of the country’s gross domestic product (GDP). If Lagos were a country on its own, it would be in the top 10 economies in Africa. Lagos is Nigeria’s commercial capital and is known for its high energy and vibrancy, with a significant influence on commerce, entertainment, technology, education, politics, tourism, art, and fashion across the continent.

This year, Lagos was featured as the first African representative in the 800-year-old Lord Mayor’s Show in London, with organisers saying Lagos was invited to participate in the London procession because of the state’s “growing economic prominence.” Lagos Governor, Mr. Babajide Sanwo-Olu, said his state’s participation was an invitation to the world to explore “the myriad of opportunities” available in Lagos. “Lagos isn’t just open for business—it’s open for transformative, groundbreaking projects that shape the future,” he added.

For context, the Lord Mayor’s Show is one of the most iconic events in London. It is an annual ceremony that dates back to the 13th century, and it is held to mark the first day in office of the Lord Mayor of the City of London (not to be confused with the Mayor of London, who has a complementary but very different role). The event is the ceremonial procession from Guildhall (the ceremonial and administrative centre of the City of London) to the Royal Courts of Justice, where the new Lord Mayor swears allegiance to The Crown. Basically, it is a big deal, and it is used as an opportunity to spotlight interests, investments, and partnership opportunities within the city and further afield.

For Lagos to be on this platform as a standalone entity and for the accompanying messages to follow suggests an intentional attempt to push a strategic narrative about Lagos as a powerhouse in its own right. Historically, the story of Lagos has been embedded in the wider Nigerian story. So this Lagos-specific narrative represents one of the most significant global showcases of Lagos in recent times.

It is not uncommon for cities and states to pursue their own interests. Cities like Paris and New York are known to have their own unique narratives that are independent of the wider narratives of the countries they represent. Incidentally (or perhaps intentionally), The Lord Mayor plays a key role in ensuring that the City of London remains a global hub for finance and professional services, commerce, and culture. Perhaps Lagos is making a play to be mentioned in the same breath as these cities?

Also, when you consider that Nigeria’s new President Bola Ahmed Tinubu (from the same political party as the Lagos state governor) has made a lot of consistent noise about his desire to open Nigeria to increased foreign investment, the message that the country’s biggest economy and shining light is open for business can be seen as a call to action for global investors.

However you look at it, there is no shortage of opportunity in Lagos. There is also no shortage of challenges and hindrances to success. For Lagos to truly fulfill its potential, it will need more than international spotlighting. It will need to address some of its well-documented challenges, including those listed below.

  • Infrastructure deficits: Nigeria’s infrastructure, in general, is underdeveloped, which can make it difficult to transport goods and services. Lagos State will need to make significant progress on this front to make it easier for investors to come in. Otherwise, the cost of developing their own infrastructure, such as generators and water pumps, may become a hindrance to potential investors.
  • Currency volatility: The Nigerian naira is volatile, which can make it difficult to predict returns on investments. This exposes investors to undue currency risk and can also be a hindrance to making any significant long-term commitments.
  • High taxes: Nigeria has a high corporate tax rate, which can make it difficult for businesses to make a profit. The head of a tax reform committee set up by the new administration recently announced that the new regime is aiming to reduce the number of taxes levied by federal and state governments from more than 60 to fewer than 10. This would be a very helpful development if it happens.
  • Lack of skilled labour: While Lagos fares better than most of Nigeria, the shortage of skilled labour makes it difficult to find qualified workers. For companies looking to succeed and grow in Lagos, they have to spend the required time properly vetting candidates to be hired and prioritise getting referrals from their professional network to find the right talent.

Despite these challenges, Lagos still represents a very exciting and promising prospect. With a rapidly growing population, a burgeoning middle class, and a strategic location in West Africa, Lagos presents an attractive landscape for investors seeking high-growth opportunities.

  • Real Estate: Real estate remains a cornerstone of investment in Lagos, driven by urbanisation, population growth, and increasing demand for housing and commercial spaces. Investing in residential properties in high-growth areas like Lekki, Ibeju-Lekki, and Ajah can yield substantial returns over time. Commercial real estate, including office spaces, retail spaces, and warehouses, also offers lucrative prospects due to Lagos’s thriving business environment.
  • Technology and Innovation: Lagos has emerged as a hub for technology startups and innovation, driven by a young, tech-savvy population and a supportive entrepreneurial ecosystem. Investing in tech startups or innovation hubs can provide access to high-growth opportunities in areas such as fintech, e-commerce, and agritech.
  • Infrastructure and Construction: As Lagos continues to expand, investments in infrastructure development, including road construction, housing developments, and commercial complexes, can be profitable. The government’s commitment to infrastructure projects creates opportunities for private sector involvement in financing and construction.
  • Agribusiness and Agriculture: While Lagos is an urban centre, there are significant opportunities for agricultural investments in the state’s rural areas. Poultry farming, fish farming, and agribusiness in areas like Epe and Ikorodu offer promising avenues for investors seeking exposure to the growing food and agriculture sectors.
  • Tourism and Hospitality: Lagos’s vibrant culture, diverse attractions, and growing tourism industry present opportunities for investment in hotels, serviced apartments, and short-term rentals. Areas like Victoria Island, Ikoyi, Lekki, and Ibeju-Lekki are particularly attractive for hospitality investments due to their high tourist traffic and demand for accommodation.

There are so many other opportunities that make Lagos attractive and validate what seems like a push to establish itself as a global powerhouse in its own right. However, without the issues being addressed, the conversation about unfulfilled potential may linger for longer than Lagos State’s leadership may desire.

Images Source: Voice of Nigeria https://bit.ly/3Rdh3Qb and Nupo Deyon Daniel on Unsplash

Global Gender Gap: Encouraging More Women in Senior Positions

  • 22nd November, 2023
  • < 1 min reading

The benefits of a diverse workforce are increasingly evident, as more women have joined the global workforce in recent years. This shift is also reflected in the changing landscape of women’s senior leadership roles.

According to the World Economic Forum’s Global Gender Gap Report 2022, there has been a steady global increase in women’s share of senior and leadership roles over the past five years (2017–2022). The global gender parity for this category has reached 42.7%, the highest gender parity score recorded. Despite this progress, women hold less than a third of leadership positions worldwide.

In a recent interview with BBC News, Bolaji Sofoluwe, our Group Managing Director, stressed the significance of “more women going for senior positions.”

Bolaji, recognized on Power Media’s Black Powerlist 2024 as one of Britain’s 100 Most Influential Black People, discussed the importance of having “women who look like me in the boardroom.”

She shared insights into her various roles, including being the chairwoman of a women’s forum, chairwoman of BGEN International , and a mentor at the UK Research and Innovation

You can read the full interview here: https://bbc.in/49MRcpu

Economic Comeback: Sub-Saharan Africa anticipates a 4.0% growth surge in 2024, says IMF

  • 26th October, 2023
  • 2 min reading

Sub-Saharan African countries have faced yet another difficult year in 2023. For a region still recovering from the COVID-19 pandemic and inflationary shocks from Russia’s war in Ukraine, which have resulted in higher interest rates and lower demand, economic growth is expected to be slow. According to the International Monetary Fund (IMF), Africa’s growth rate in 2023 is predicted to be 3.3 percent.

However, there is reason to be optimistic, with the IMF Regional Economic Outlook for Sub-Saharan Africa projecting a rebound to 4.0 percent in 2024, with growth picking up in four-fifths of Sub-Saharan Africa’s countries and strong performances in non-resource-intensive countries. Africa’s macroeconomic imbalances are also improving, owing mostly to lower inflation and more sustainable uses of public finances.

Is it time to celebrate?

While the projection calls for some sort of celebration, the IMF has cautioned that growth is not inevitable because obstacles such as financial constraints, higher debt payback costs, and expensive debt servicing remain.

The IMF suggests that Sub-Saharan African nations could delay the predicted economic rebound due to a slowdown in their reform efforts, rising political instability, or external risks that might harm growth potential. To achieve the anticipated increase, the IMF has proposed four policy actions.

Managing inflation: To start with, inflation remains in the double digits for 14 African countries, which is far higher than the target in most countries. Addressing inflation in countries where inflation is firmly on track to target levels may be required, whereas monetary tightening may be required in nations where inflation is growing until there are clear indicators that inflation is dropping.

Managing exchange rate volatility: Exchange rate fluctuations remain a major concern across Africa, causing significant challenges for businesses in the region. The IMF has proposed aligning monetary policy demands with the anchor country in order to maintain external stability and avoid further reserve losses. Currency movements in countries with floating exchange rates should be allowed to adjust as much as feasible, because efforts to block fundamental-based movements come at a high cost. Other policy measures, such as tighter monetary policy to keep inflation under control and structural changes to enhance the export industry, should accompany the adjustment, according to the IMF.

Debt management and prudent spending: Debt management while making room for development spending African countries’ debt risks are increasing. Borrowing rates are still high, and rolling over debt is a burden for African countries, with half of the region’s low-income countries at high risk or in economic crisis. Effective domestic income mobilisation, a deliberate approach to expenditure, careful borrowing, and debt restructuring may also be required.

Raising living standards, especially in resource-rich countries: while the recovery is underway, economic disparities within the area are expanding, with per capita incomes in resource-intensive economies remaining subdued. According to the research, increasing income per capita through structural reforms such as strategic investment in education, better natural resource management, improved business, and a true commitment to trade integration will guarantee the growth projection, according to the IMF.

To ensure that the coming rebound is more than a passing fad, African countries must heed the cautions of the global finance agency in that economic stabilising policies are put in place while focusing on reforms that address the region’s development needs.

Photo by Douglas Bagg  and Joecalih on Unsplash

UK-Francophone Trade – the perfect time for a win-win partnership?

  • 24th October, 2023
  • 3 min reading

On October 18, 2023, the second edition of the UK-Francophone West and Central Africa Trade and Investment Forum was held at the IET Savoy in London. The event was organised by UK Export Finance (UKEF), the UK’s export credit agency, and DMA Invest, and it brought together prominent representatives from Benin, Cameroon, Côte d’Ivoire, the Democratic Republic of Congo, Guinea, Senegal, and Togo to discuss new trade and investment opportunities with their UK counterparts.

The event included a variety of discussions that focused on the UK’s offer to Francophone West and Central Africa, its strength and depth, women and youth development, de-risking and mobilising private capital to drive growth, and various opportunities across sectors and countries. The event’s purpose was clear: the United Kingdom was making a huge pitch to Francophone West and Central Africa, and the region was open for business.

Speaking ahead of the event, the UK’s International Trade Minister, Nigel Huddleston, intimated that “West and Central Africa is a huge investment opportunity for the UK”. He added that “the Francophone markets have a clear vision for delivering economic growth and prosperity, and the UK is ready to support those countries by building long-term, modern partnerships that are mutually beneficial.”

Many people might raise an eyebrow at a trade relationship between the United Kingdom and Francophone West and Central Africa. However, in light of current world developments, the timing of these discussions makes more sense. On the one hand, the desire from Francophone African countries to seek additional economic and political allies outside of France has grown in recent years. The French continue to be the de facto partner for the majority of Francophone countries, but there appears to be a greater demand for other partners these days. In contrast, post-Brexit Britain is looking to create new relationships to drive economic growth. In contrast, post-Brexit Britain is looking to create new relationships to drive economic growth. The UK has also set an ambitious objective of £1 trillion in exports by the end of the decade, which will necessitate finding new markets to sell goods and services in.

A deeper examination of trading and investment flows reveals a potentially win-win situation. For example, of the £5 billion invested in Africa by UK Export Finance in the last five years, £700 million has gone to Francophone West and Central Africa. Various Francophone African countries have also achieved tariff-free and quota-free market access for crops such as bananas and sweetcorn, offering an effective route-to-market for African agricultural exports in the UK.

At the same time, economic growth in the eight-member West African Economic and Monetary Union is projected to rise to 7% this year as many of the countries recover from the shock of the Russia-Ukraine crisis. When you consider the United Kingdom’s experience in other regions of Africa, as well as the continent’s much-reported increasing middle class, establishing a trading connection that covers the continent makes a lot of sense.

It is also worth noting that there has been a big push (driven by African countries) to transition the continent towards greater industrialisation. The African continent as a whole has developed a reputation as a destination for raw materials that are typically traded with other countries for various stages of refinement and value addition. In many cases, these refined raw materials are then sold back to the continent. However, this narrative is beginning to change, with increasing investment in local processing and refinement facilities on the continent. There has also been significant growth in the continent’s financial services and creative industries, offering significant trading and investment opportunities.

The necessity for successful collaboration, rather than the old “we will build it for you” approach that hasn’t served Africa’s interests well over the years, was a frequent topic throughout the keynotes and fireside chats. Several delegates consistently stated that only a collaborative effort will result in a win-win outcome for all stakeholders.

Another recurring topic was the necessity for reliable partners on the ground to support project delivery. According to the conversations during the event, there was definitely a desire for UK companies to investigate the Francophone West and Central Africa region, and the region was also open. However, because this is a new relationship, some resources will need to be committed in creating the essential trust and confidence on both sides before everyone can transact efficiently.

If the meetings in the foyer are any indication, it is safe to believe that the event is already producing results. It should be noted, however, that this is not the first conversation regarding opportunities in Africa. Many of these occurrences have occurred over time. What is frequently lacking is the essential work and commitment to turn these opportunities into jobs and other tangible realities. As previously stated, for this cooperation to thrive, it must be mutually beneficial, based on respect, and take into account what the respective countries want and need.

Unlocking the African Market: 6 Key Strategies for Success

  • 20th October, 2023
  • 3 min reading
Diving into the vibrant African market?

Here are some essential tips to pave your way into this diverse continent with a growing middle class and an abundance of untapped potential.

Embrace Cultural Diversity:

Africa, the world’s second-largest continent by area and population, is unique with national and regional differences.

With this kind of diversity, it’s understandable that each African country also has its own unique identity, culture, and way of life. Although Africans have diverse cultures, they share common ground.

By taking the time to immerse yourself in the local culture and learn about their day-to-day #business practices and business etiquette, you can overcome some of the challenges that are faced when expanding into Africa.

Find Your Niche:

Finding the correct target market for your products or services is the key to effective African market expansion. Africa’s growing economies provide great potential for B2B and B2C expansion.

With around 1.3 billion consumers now and an anticipated increase to 1.7 billion by 2030, the future of retail and consumer spending seems promising. However, African income levels have not been increasing at a steady rate since household expenditure on the continent has remained largely static.

While studies demonstrate that African consumers are sophisticated and loyal to brands, the vast bulk of consumer purchasing on the continent currently occurs in informal, roadside marketplaces, even in countries with well-developed retail and distribution industries.

A well-defined niche in Africa will benefit from less competition and will produce significant commercial growth while using fewer resources.

Phase Your Entry:

Market expansion can be a daunting task; doing things carefully and strategically is essential. When entering new markets, and not just Africa, you may as well test the waters with one foot. Rather than incurring the risk of fully establishing a company, developing strategic alliances with local enterprises that are already taking the risk and navigating the market can be a wonderful strategy with fewer risks. Consider a staged approach to entering the African market.

This will allow you to adapt and alter as needed, as well as test different ideas and approaches before committing to setting up in a specific location.

Leverage Import-Export Opportunities:

When considering expanding your business in Africa, you have several options available to you, each with its own set of advantages and problems. From marketplaces to local sales reps, local branches, subsidiaries, or joint ventures, there is something for everyone.

Similar to how businesses in other markets search to export or import from different markets, #African businesses look for strategic import-export prospects both within and outside the continent. Strategic collaborations can give your product or service access to new markets, such as Africa, as well as shared expertise and reduced resource expansion.

Establish Local Roots:

Having a solid local presence and focusing on your expertise can give you the confidence to extend your company into African markets. Local knowledge can assist businesses in better understanding the legal and regulatory environments of emerging markets, such as Africa.

African countries, like the United Kingdom, Europe, and the United States, have legal systems. What is legal in the United Kingdom may be illegal or strongly regulated in another country. Businesses that lack local knowledge may find themselves in violation of these restrictions, which can result in large penalties and legal action. Having local experience in the form of legal advice or #consultants can thus be quite beneficial in assuring compliance with local laws and regulations.

Harness the Power of Connections:

In the dynamic African market, relationships matter. Building strong ties not only keeps you ahead but also streamlines your supply chain and product availability. Cultivate these connections to stay competitive and enhance your market penetration. Cultivate these connections to stay competitive and enhance your market penetration.

Remember, the African market is as diverse as it is promising. Embrace your uniqueness, find your niche, and nurture relationships—these are the building blocks for your success. Here’s to thriving in the heart of Africa!

Photo by kurt arendse and  pius quainoo on Unsplash

Building an Africa-focused ESG framework will drive sustainable growth for businesses on the continent.

  • 10th October, 2023
  • 2 min reading

We are building an Africa-focused Environmental, Social, and Corporate Governance (ESG) framework that will help companies meaningfully measure how they are performing with respect to the non-financial risks and opportunities inherent to their day-to-day operations.

At our recent partner event in Lagos, Nigeria, ETK Group Managing Direct, Mrs. Bolaji Sofoluwe, unveiled our new ESG framework for assessing companies using a series of guided questions and assessments. She revealed that “while none of the existing frameworks have implemented a scoring system, ETK Africa-focused ESG framework intends to align with best practices to ensure that the scoring system is reflective of what is adopted internationally”.

Brent Barnette, Operations Director at ETK Group, also highlighted the importance of an Africa-focused ESG approach to drive better results for businesses, including a variety of baseline assessments such as materiality, risk, and impact of supply chain challenges, as well as strategy development, implementation of mitigation and adaptation plans, and other services to ensure meaningful results for businesses.

The event also explored the need for managed services solutions to support businesses and entrepreneurs to successfully run their operations while they are temporarily or permanently away from the country their businesses are located in.

ETK Group is a market expansion, trade, and development consultancy provider positioned to contribute to the growth of the African business market by bringing great business opportunities from around the world.  We are the leader in Africa in market entry and business expansion and the go-to-market entry partner for businesses globally. ETK supports global and local businesses with effective strategy, planning, implementation, and e-consultancy to enable seamless and successful expansion into and across Africa.

We are strategically connected to international markets, which offers unique and lasting value to its clients. It has also delivered projects in 34 African markets and influenced over $1 billion worth of deals, making us one of the most prolific service providers in the African space.

ETK ConnectXperience was our second event in Nigeria, and it presented various partnership and networking opportunities to enhance businesses’ competitive edge and fuel their growth in the global marketplace.

Notable guests at the event included representatives of the Bank of Industry, the International Finance Corporation, Mastercard Foundation, General Electric, Africa Prudential, and other reputable organisations.

ETK Team Conducts Project Evaluation Visit in Africa

  • 5th October, 2023
  • 2 min reading

Soilless Farm Lab, based in Awowo Abeokuta, Ogun State, Nigeria, is making significant progress with its Enterprise for Youth in Agriculture (EYiA) initiative.

Recently, the project received and hosted the ETK team at the facility. On this routine visit, Team ETK was led by our Group Managing Director, Bolaji Sofoluwe, as part of our activities in supporting the successful delivery of the project as well as enhancing the capacity of Soilless Farm Lab.

At its core, the Mastercard Foundation-supported Enterprise for Youth in Agriculture project significantly contributes to the realisation of the Mastercard Foundation Young Africa Works strategy. The project is designed to provide dignified and fulfilling employment opportunities for over 30,000 youths, especially women, by equipping them with valuable skills and inputs in vegetable production over a period of three years. The project focuses on cutting-edge technologies like greenhouse and soilless farming, integrated pest management, and leveraging modern farming tools and artificial intelligence (AI) for increased food production.

ETK Nigeria proudly supports Soilless Farm Lab by providing institutional capacity enhancement (ICE) and project management oversight which is critical for ensuring attainment of the project’s objectives. Through our collaboration, we ensure that our partners receive the support they need to thrive and create the desired impact set to be achieved thereby leaving a lasting imprint on Nigeria’s agricultural landscape.

During the recent visit, the ETK team assessed the level of progress made and how our work is contributing to the institutional capacity development of Soilless Farm Lab. The visit also presented us with an opportunity to review the overall project performance and reaffirm the objectives set forth by the MasterCard Foundation to be achieved by the EYiA project.

You can read more about the Enterprise for Youth in Agriculture project and the transformative impact it’s making here https://sfarmlab.com/EYiA/

Together, we’re sowing the seeds for a prosperous and sustainable future for Nigeria’s youth and agricultural industry.

 

 

ETK Nigeria Hosts Networking Event for African Trade and Development Stakeholders

  • 4th October, 2023
  • 2 min reading

On the 29th of September, ETK Nigeria hosted a remarkable evening at the luxurious Wheatbaker in Ikoyi, Lagos, Nigeria. The event, named “ETK ConnectXperience,” served as a platform for us to introduce ETK to potential partners and share our vision for the future with those who have played a pivotal role in our growth and success in Nigeria.

We had the pleasure of hosting Nigerian development agencies, the UK-based ETK Team, along with other team members and stakeholders from the trade and exports, export financing, and exports sectors. This gathering allowed us to showcase ETK’s accomplishments spanning over 13 years, highlighting our expertise in international trade and business development across Africa. It was not just an event; it was an opportunity for networking and collaboration among our esteemed guests.

During the event, our Group Managing Director, Bolaji Sofoluwe, delivered an insightful presentation. She shed light on how ETK has utilised a combination of people, processes, and technology since our inception in 2010. This approach has enabled us to successfully execute projects in 34 African markets and engage in deals worth over $1 billion.

At ETK Nigeria, we offer a range of consulting services tailored to assist African businesses in achieving their growth and expansion goals. From organisational transformation to capacity building, ESG strategy, reporting, auditing, market entry and expansion services, managed business services, and access to capital markets, we provide comprehensive solutions to empower businesses.

In response to questions from our guests, attendees had the opportunity to engage with our Director of Operations, Brent Barnette. He emphasised ETK’s commitment to supporting companies at any stage of their reporting journey. Whether it’s creating an ESG strategy and framework, conducting an ESG audit, developing mitigation strategies, or offering technology and engineering services, we stand ready to assist companies in their ESG journey.

For more than 13 years, ETK has been the preferred consultant for international companies aiming to grow and expand in Africa’s dynamic markets. We have also assisted African companies in their global expansion plans. As we look ahead, we are eager to continue our collaborations with partners in Nigeria and other African nations. Together, we aim to achieve even greater success and contribute to the growth of businesses in Africa and beyond.