Innovation Village Newsletter
Posts
💰Oikocredit commits $10 million to strengthen African SMEs

💰Oikocredit commits $10 million to strengthen African SMEs

Plus: 🎧 Apple to begin mass production of AirPods with cameras by 2026

Innovation Village
July 02, 2024

Today’s Menu ☕️

📈 Vantage Capital Invests $47.5 Million in Two Rivers Business Park Growth in Kenya
🚘 Uganda Revives 25% Import Duty on Electric Vehicles, Promotes Local Production
💰Oikocredit commits $10 million to strengthen African SMEs through collaboration with AfricInvest
💰EBRD invests $40 million to empower mid-cap companies in North Africa
🎧 Apple to begin mass production of AirPods with cameras by 2026

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

Register for the upcoming Professional Scrum Product Owner (PSPO-I) Certification Training

Click here to register now

💰INVESTMENTS

Vantage Capital Invests $47.5 Million in Two Rivers Business Park Growth in Kenya

The Two Rivers International & Innovation Centre (TRIFIC SEZ), a premier service-centric business hub located in Nairobi’s diplomatic area, has recently received a substantial investment of $47.5 million from Vantage Capital, the largest mezzanine fund manager in Africa.

This significant financial boost is set to propel the expansion of TRIFIC SEZ, enabling the acquisition and refurbishment of an office tower with a total area of 14,975 square meters. The investment will also facilitate the construction of two additional state-of-the-art Grade A office towers, which will offer a combined 76,800 square meters of rentable space.

Occupants of TRIFIC SEZ will be integrated into the dynamic Two Rivers community, which encompasses residential spaces, dining options, retail outlets, and entertainment venues, creating a holistic and engaging business environment...…....continue reading

SMEs

Oikocredit commits $10 million to strengthen African SMEs through collaboration with AfricInvest

The social impact investment firm Oikocredit has recently extended a debut loan of $10 million to AfricInvest Private Credit (APC), with the aim of bolstering small and medium-sized enterprises (SMEs) throughout the African continent. This collaborative effort is set to broaden the availability of financial resources for SMEs that are typically underserved by conventional lending institutions.

APC is known for its proficiency in providing medium to long-term financing solutions, focusing on businesses that face challenges in obtaining funds from mainstream banks due to insufficient collateral. With the support of Oikocredit’s investment, APC is poised to enhance its loan distribution capabilities, thereby benefiting an increased number of businesses across different African nations.....…....continue reading

🚘 ELECTRIC VEHICLES

Uganda Revives 25% Import Duty on Electric Vehicles, Promotes Local Production

The Ugandan government has reinstated a 25% import duty on electric vehicles (EVs), reversing a previous policy that had exempted them from the tax. This move is part of a broader strategy to incentivize local manufacturing of EVs and reduce the country’s reliance on imported vehicles.

The reintroduction of the import duty has already had a noticeable impact on the price of imported EVs. For instance, the cost of the popular Nissan Leaf has increased by over USh 51 million ($13,750) due to the new tax. This price hike could deter potential EV buyers and slow down the adoption of electric mobility in the country.

However, the government believes that this measure is necessary to foster the growth of a domestic EV industry. To support this goal, local manufacturers that meet specific criteria, such as employing at least 80% Ugandan workers and sing a significant proportion of locally sourced raw materials, will be exempt from the import duty.........…....continue reading

🎧 GADGETS

Apple to begin mass production of AirPods with cameras by 2026

According to reports, Apple is gearing up to launch a new generation of AirPods in 2026, equipped with advanced camera modules. These enhanced earbuds will boast infrared cameras that seamlessly integrate with Apple's Vision Pro and future headsets, revolutionizing spatial audio and spatial computing experiences.

The innovative technology enables the detection of environmental changes, allowing for intuitive in-air gesture control. Additionally, Apple is exploring further expansion into wearable technology, including smart glasses and a smart ring, hinting at a future where users can interact with their devices in increasingly natural and immersive ways...…....continue reading