Penresa had the immense honor to sit down with President Julius Maada Bio to discuss his administration’s achievements, tackling corruption, empowering women, and focusing on education, food security, and job creation for a sustainable future.&nbsp;



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“We’re creating a business climate where investors thrive. With reduced corruption and infrastructure development, Sierra Leone is open for transformative, long-term partnerships.”&nbsp;



Your presidency began in 2018, and you started your second term in 2023. What would you consider your biggest and proudest achievement as president.&nbsp;



When I assumed office, I promised a “new direction” for Sierra Leone—a shift away from past inefficiencies to prioritize the country’s most critical resource: its people. Human capital development became our cornerstone because I believe education transforms lives. I was born in a small village over 200 miles from here. Education brought me to where I am today, leading a nation. However, in a country where three out of five adults were illiterate, many families couldn’t afford annual school fees as low as US$20. This was unacceptable and motivated us to act. We launched the free quality education initiative to ensure education was no longer a privilege but a universal right. It wasn’t easy. We inherited an economy in crisis with depleted resources, but through efficient resource allocation and anti-corruption measures, we implemented this program within four months of taking office. Today, six years later, the results are transformative. Millions of children, especially girls, now attend school. We’ve seen significant improvements in learning outcomes and increased interest in science and technology fields among young women. Through free education, we’ve not only empowered individuals but also strengthened entire families and communities. This initiative has gained international recognition, with the United Nations appointing me as co-chair for the Transform Education Summit. These efforts have also enhanced national pride and optimism for the future. Education isn’t just an investment in individuals; it is the bedrock for national and global competitiveness. Through education, we’re ensuring Sierra Leone is better positioned to contribute to and benefit from the global economy. For me, these achievements in education represent hope—equipping our citizens to navigate a complex world while laying the foundation for Sierra Leone’s role on the global stage. By making education accessible and of higher quality, we’re addressing poverty and inequality in tangible ways, ensuring that no child is left behind.&nbsp;



In 2024, you announced your medium-term national development plan. Can you provide an overview of its goals and expected outcomes by 2030?&nbsp;



Our medium-term national development plan aligns closely with the UN Sustainable&nbsp; Development Goals and addresses core areas: human capital development, food security, public&nbsp;sector reform, and job creation. During my first term, we laid the groundwork with free quality education. In this term, we’ve prioritized food security—a lesson reinforced by vulnerabilities&nbsp;exposed during the Ukraine crisis, which caused global food inflation. Sierra Leone boasts over five million hectares of arable land, ample rainfall, and the potential to feed itself and export surplus. This is why we launched the “Feed Salone” initiative to promote climate-friendly agricultural practices. By 2030, we aim to create 500,000 jobs, transition to a middle-income&nbsp;economy by 2039, and establish a robust public sector capable of sustaining these efforts. This requires aligning our goals with global standards while addressing domestic challenges. Additionally, this plan focuses on reducing youth unemployment through skills development and vocational training. We’re also heavily investing in technology and infrastructure as enablers of&nbsp;our broader goals. From job creation to public sector reform, this plan is about resilience and empowerment. It ensures that as we address immediate challenges, we’re simultaneously building a foundation for sustainable growth. Our approach integrates education, health, and job creation into a holistic framework for human capital development. These elements complement each other and create a robust ecosystem that will continue driving our nation’s growth.&nbsp;



Why has food security become a flagship focus for your second term?&nbsp;



Food security is a vital pillar of human capital development. During the Ukraine crisis, Sierra Leone’s dependency on imports made us vulnerable to price shocks. This experience underscored the need for self-sufficiency. We realized we had the resources—fertile land and abundant rainfall—to feed ourselves sustainably. Agriculture is not only key to addressing&nbsp;malnutrition but also central to reducing poverty, as it employs over 60% of our population.&nbsp;



The “Feed Salone” initiative is our response. It’s more than an agricultural policy—it’s a strategy to diversify our economy, reduce dependency on imports, and create jobs. Climate-friendly&nbsp;farming methods, improved supply chains, and investments in agricultural infrastructure are core to this initiative. Furthermore, food security is tied to economic resilience. By growing our agricultural capacity, we’re ensuring that Sierra Leoneans can thrive during global crises and contributing to export opportunities that will strengthen our economy further. To thrive as a nation, we must feed our minds with education, nourish our bodies with secure food systems, and ensure our people are healthy. By taking these steps, we’re positioning Sierra Leone as a regional leader in sustainable agriculture and economic resilience. This holistic approach, rooted in our&nbsp;nation’s strengths, prepares us for challenges while unlocking new growth opportunities.&nbsp;



Gender equality has been a strong focus during your presidency. What opportunities does the Gender Equality and Women Empowerment Act provide for women?&nbsp;



Historically, women in Sierra Leone were marginalized in governance, education, and economic participation. With the Gender Equality and Women’s Empowerment Act, we’ve mandated&nbsp;that at least 30% of positions in governance and corporate leadership be held by women. In some sectors, we’ve exceeded this target. Education has been central to empowering women. Policies&nbsp;such as free quality education for girls and STEM scholarships have significantly increased female enrollment in traditionally male-dominated fields like engineering. For the first time in nearly two centuries, our universities see more girls applying for these programs. We’ve also prohibited child marriage and strengthened laws against gender-based violence. Initiatives like “Hands Off Our Girls,” led by the First Lady, have reduced teenage pregnancies by 30% in affected areas. Empowering women creates a ripple effect, enriching decision-making processes and accelerating national development. Through property rights reforms and access to micro-financing, women now play a more active role in Sierra Leone’s economy. Additionally, women now enjoy enhanced protections and opportunities to advance their careers, breaking down barriers that have historically held them back. The act and its accompanying initiatives also support women’s financial independence. By addressing gender inequality systemically, we’re paving the way for greater inclusion and creating a society where everyone can contribute meaningfully to national progress.&nbsp;



Can you elaborate on Sierra Leone’s diversification goals and how your administration supports public-private partnerships?&nbsp;



While mining has been Sierra Leone’s economic backbone, we’re shifting focus to diversify into manufacturing, agriculture, and infrastructure. For instance, we’ve made strides in light manufacturing, producing items like cooking oil and construction materials locally. This reduces import dependency while creating jobs. Public-private partnerships are vital to achieving these&nbsp;goals. Our National Investment Board simplifies bureaucracy and ensures that investors have government support. Additionally, through the Millennium Challenge Corporation, we’ve secured substantial funding—US$480 million for energy projects alone. We’ve also implemented reforms to tackle corruption, moving over 20 places up the global corruption index. These efforts assure investors that Sierra Leone is a stable and secure destination for long-term investments. Through diversification, we are building a more resilient economy that can support sustainable growth for generations. We’re making strides in sectors like renewable energy, infrastructure development, and agriculture processing, which also open opportunities for exports and partnerships.&nbsp;



What is your message to potential investors about Sierra Leone’s opportunities?&nbsp;



Sierra Leone is open for business. We’ve created a favorable investment climate through anti-corruption measures, policy incentives, and infrastructure improvements. For example, U.S.&nbsp;institutions have committed nearly US$1 billion to energy and airport projects, and we continue to attract interest from global partners like the U.K. and China. Our macroeconomic indicators are improving—inflation has dropped significantly, and we maintain fiscal discipline. Whether in agriculture, energy, or manufacturing, Sierra Leone offers untapped potential and a government ready to support investors every step of the way. If you’re looking for a stable, resource-rich, and growth-oriented destination, Sierra Leone is your answer.&nbsp;



For the full Penresa report on Sierra Leone <a href="https://www.forbesafrica.com/africa-undiscovered/2025/04/10/sierra-leone-unlocking-west-africas-investment-potential/">CLICK HERE</a>
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H.E. President Julius Maada Bio of Sierra Leone

Leading Sierra Leone Forward 

Gento Group, a leading local company, is driving infrastructure projects like the Banana Island Port to unlock the country’s untapped potential in trade, minerals, and tourism.



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“The Banana Island Port’s natural depth of 22 meters and its proximity to the Atlantic shipping route, provides it with a distinct advantage in sailing time.” Mohamed Gento Kamara, Chairman and CEO of Gento Group of Companies (SL) Limited 



Mohammed Gento Kamara – a British Sierra Leonean whose entrepreneurial journey evolved from his initial ventures in owning three mobile phone retail shops in South London to significant real estate investments in Manchester, where he partnered with a U.K. company. His move to Sierra Leone in the early 2000s marked a pivotal transition, driven by a desire to contribute to the country’s recovery after the devastating civil war, with a focus on infrastructure projects. 



“The then-president asked me to stay and inspire young people, showing them that war is not an option and that they can better their lives,” recalls Mohamed Gento Kamara, now  Chairman and CEO of Gento Group of Companies (SL) Limited, a firm with reporting assets worth over US$150 million. His firm’s early projects included the monumental transformation of Hill Station and Hill Cot Road, which Sierra Leoneans describe as very difficult, a testament to the company’s resilience and capability. “The transformation from its former state to its current form was profound,” he noted, underscoring the tangible impact of these projects. Over the last decade, Gento Group has solidified its position as a key player in Sierra Leone’s infrastructure development, with Kamara proudly stating, “Gento Group became the face of local content in Sierra Leone.” 



Gento Group is leading several transformative projects that are set to redefine Sierra Leone’s economic future. At the forefront is the Banana Island Port Project, a venture with immense potential to reshape global trade connectivity. As the CEO explains, “The Port’s natural depth of 22 meters and its proximity to the Atlantic shipping route, provides it with a distinct advantage in capacity and sailing time,” He emphasizes that the port’s natural depth and strategic positioning make it a powerful contender against prominent ports in the subregion. This unique depth positions Banana Island as a prime destination for large vessels, enabling Sierra Leone to slash freight costs and boost trade between Asia, America, and Europe. 



The project is backed by a 25-year renewable concession agreement with the government. The logistics hub construction is already underway, and the island’s ports development is set to commence by the end of this year. Gento Group has made enduring contributions to social infrastructure on the island,  constructing a hospital, community center, and secondary school. “We are confident that this port will transform Sierra Leone’s economy, bringing about undeniable change, particularly by creating job opportunities,” Kamara states, highlighting the transformative impact the port will have on both the local economy and Sierra Leone’s global position. The project is expected to be operational by 2028, ushering in a new era for the region’s maritime industry. 



In addition to the Banana Island project, Gento Group is making significant strides in urban development through its Waterloo Township Projects, designed to improve urban infrastructure and create a more sustainable living environment. 



“We also have a quarry around the peninsula in an area called Tombo. We are exploring the possibility of exporting granite stones to The Gambia,” he says. This is part of the firm’s diversification strategy and its effort to capitalize on regional demand for high-quality materials. In real estate, Gento Group is developing rental housing on the Peninsula and aims to expand into property sales by 2026. 



“Over the years, we’ve worked with multiple governments, creating jobs and driving economic growth,” Kamara notes, underlining his firm’s role in fostering local content and contributing to the nation’s long-term growth.  



As infrastructure projects play a vital role in fostering investor confidence and generating opportunities for both local and international companies, the CEO explains, “Gento Group has brought confidence to Sierra Leone’s economy transforming a landscape once dominated by foreign interests. We have changed that narrative, proving that local companies can lead the change in reshaping Sierra Leone’s economic future.” 



Reflecting on Sierra Leone’s potential as an investment destination, the CEO highlights the country’s untapped resources in minerals, tourism, and infrastructure. “Sierra Leone is a virgin state with immense untapped potential,” he says, implying that projects like the Banana Island port are pivotal in unlocking these prospects, offering investors a rare chance to be part of the nation’s promising future. 



<a href="https://www.forbesafrica.com/africa-undiscovered/2025/04/10/sierra-leone-unlocking-west-africas-investment-potential/">Read full Report by Penresa here</a>


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MOHAMED GENTO KAMARA, CHAIRMAN AND CEO OF GENTO GROUP OF COMPANIES (SL) LIMITED

Pioneering Local Excellence and Shaping National Progress 

From a humble local baker to factory owner, Amadu Juldeh Sowe is transforming Sierra Leone and the West African sub-region’s key consumables production industry.&nbsp;



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“Our goal is to transition Sierra Leone from a net importer of flour to a net exporter.” Amadu Juldeh Sowe, Managing Director of BSB International Limited&nbsp;
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The consumables commodities production industry in Sierra Leone and the subregion currently grapples with a host of challenges. These include production trends, market dynamics, and economic factors such as inflation, commodity price fluctuation, supply chain disruptions, and trade restrictions.&nbsp;&nbsp;



Notwithstanding these myriad challenges, well-meaning individuals like Amadu Juldeh Sowe&nbsp;(commonly called Juldeh Sowe), whose sphere of influence extends beyond his immediate community, are having a massive impact on Sierra Leone’s broader societal and developmental aspirations. And now, his resolute commitment is extending to the subregion.&nbsp;



Sowe’s key companies, BSB International and Sierra Leone Flour Mill, are major players in Sierra Leone’s commodities production industry. Sowe’s journey in this space started when he took over managing his family-run Brass Street Bakery business. The bakery, operated on a small scale across three generations starting with his grandfather, his father, and latterly Sowe, producing and supplying bread, Sierra Leone’s second staple food.&nbsp;



Juldeh Sowe saw bread production as a business that transformed the lives of his family, fed his people, and contributed significantly to socio-economic development. Upon assuming the reins, he carried out a major restructuring of the business, assuring proper financial management, recruiting and training specialized staff, and expanding production. His business’s founding ethos is built on empowering indigenes whilst assuring sustainability within the Environmental, Social, and Governance (ESG) framework. He transformed the business into a corporate entity, BSB International Limited, with effective corporate governance structures for sustainable growth in 2012.&nbsp;



To achieve his dream, Juldeh Sowe quickly realized that effective supply chain management was a top priority. He became a key agent of Sierra Leone Flour Mill, then run by the American multinational Seaboard Overseas and Trading Group in West Africa, the country’s sole wheat-flour producer guaranteeing consistent wheat-flour supplies. With effective quality control, marketing strategies, good storage facilities, distribution networks, and sheer determination, the businesses realized major growth to become a mainstay in the&nbsp;commodities sector.&nbsp;&nbsp;



In 2012, Seaboard West Africa closed down operations in Sierra Leone. Sowe leveraged his healthy revenue stream and networks developed to acquire the mill, becoming the first indigenous business to own a mill in Sierra Leone and the Mano River basin.&nbsp;



The business became vertically integrated, assuring effective synergies for premium bread and related production and service delivery. Not long after, however, as Sowe notes, “We were not just looking at profits, we were looking at how we can support and make our people stronger.” As a consequence, he diversified the business, initially scaling down the bakery operations until eventually closing this arm.&nbsp;



He has branched out into importing essential commodities, the country’s staple food, rice, sugar, and other essentials. Wheat flour and related products, however, remain a core business. Under Seaboard West Africa’s management, daily production capacity was 150 metric tons, which proved insufficient to meet domestic wheat flour demand. The solution was importation,&nbsp; significantly draining limited foreign currency reserves.&nbsp;



To guarantee sustainable growth and feed his people, he commissioned the construction of a state-of-the-art US$20 million milling facility with an impressive 600 metric tons per day production capacity in March 2023. Commissioning of the new mill, now over 90% complete, is expected in the first quarter of 2025. The opening of the mill will make it the largest in the Mano River basin.&nbsp;



The BSB International team gave a tour of the impressive modern milling facilities, offering a chance to observe the old and new milling facilities and production processes. The new mill, equipped with energy-efficient technologies, embodies an expansive outfit, a fundamental realignment of the country’s food production ecosystem. This is also expected to significantly transform the country’s wheat flour and related products space, reduce costs, and assure Sierra&nbsp;



Leone’s self-sufficiency. “When we produce in large quantities, the price will come down. Everyone will benefit; bread, flour, and other products will become more affordable,” Sowe observes.&nbsp;



Plans are already on course to export excess production to neighboring Guinea and Liberia, unlocking cross-border trade opportunities and transforming Sierra Leone from a net wheat flour&nbsp;importer to a net exporter. The new mill is also expected to aid in ameliorating unemployment through the creation of 100 new jobs, boosting the current 150 workforce.&nbsp;



Additionally, once the new mill becomes operational, Sowe plans to establish distribution depots across the country. The depots also create jobs and increase opportunities for transporters. This emphasis on job creation offers optimism about the country’s economic outlook, reinforcing the positive impact of Sowe’s initiatives.&nbsp;



This would also ensure that by-products of the milling process, such as animal feed, would be available to support the growth of the poultry industry. “Our mill dedicates 25% of production to animal feed, supporting poultry farms and agriculture, significantly growing poultry farming across the country,” says Sowe.&nbsp;



With 100% of locally consumed wheat flour imported, Sowe is pursuing ventures to reduce import reliance and global supply chain disruptions. Sierra Leone Flour Mill commissioned research to integrate cassava, a resilient and abundantly available local crop, into the mill’s production process. Significant progress is being made with expectations that cassava will contribute 20% of raw material in the mill’s production. Funds have also been earmarked for additional research to boost wheat flour alternatives to ensure cost-savings whilst empowering the national economy.&nbsp;



The strides of Sowe and his businesses have not gone unnoticed, and it came as no surprise when following commissioning the construction of the new mill, Sierra Leone Flour Mill successfully&nbsp;pursued engagements with the International Finance Corporation (IFC). The IFC is now providing partial financing for the new mill’s construction and additional working capital. This represents a significant milestone for an indigenous-grown business and offers hope to many Sierra Leoneans that doing the right thing and contributing to national development pays off immensely.&nbsp;



BSB is also collaborating with the government in its US$800 million rice cultivation initiative aimed at revamping this fledging sector. The company has commissioned an initial investment of&nbsp;around US$2 million with plans to upscale investment in 2025–2026.&nbsp;



BSB’s involvement as part of a broader strategy to promote and link industrial and agricultural growth, aims to reduce rice imports, positioning the country in the short-term as self-sufficient and, in the long run, as a major exporter. “This country has the land. If you fly over Sierra Leone, you will observe abundant arable, fertile land awaiting cultivation. Rice farming thrives in places like Torma Bum, with immense potential to feed Sierra Leone,” Sowe observes.&nbsp;



With the significant gains in Sierra Leone, Juldeh Sowe moved into the Guinea Bissau market, where his business is now operating a flour packaging facility. Plans are underway to commission a 300 metric tons daily production capacity in the first quarter of 2025. 



“We are equally expanding our operations in the commodities space in the Republic of Guinea and Liberia, following encouraging results from market surveys conducted,” Sowe states.&nbsp;



Sowe’s business plays a critical role in ensuring ready access to commodities and boosting local production, aligning with the government’s “Feed Salone” project. As a result, he has, on several&nbsp; occasions, received support from the government of Sierra Leone, much like any other sustainable business. He notes, “When we required land for the new mill, the President supported us, to secure a fair market rate for the land within a short period. The government is supporting us with import waivers necessary for completing the mill. Additional support in ensuring regular foreign currency availability and assistance in repossessing the shed, acquired as part of SLFM&nbsp;assets at the port for wheat storage would significantly enhance business stability and success.”&nbsp;



With this growth and success, Sowe fondly states “I have to give back to my people. I see myself as a benefactor who should touch the lives of my indigent compatriots.” Records shown to us inform that over the last 20 years, Sowe and his businesses have funded over 300 scholarships annually, ensuring that young Sierra Leoneans receive quality education from primary schools to universities. Sowe also spends an average of US$100,000 annually on community programs, including critical surgeries and other healthcare as well as farming initiatives. “We have been fortunate to grow with the community. We seek to touch the lives of many so that we leave a lasting impact,” Sowe remarks.&nbsp;



Juldeh Sowe’s story is one of hope, growth, and transformative vision. A humble local baker with ambitions that constantly transcend the confines of traditional inward-looking business mindsets; a commitment to self-reliance and innovation to feed his nation, transform lives, and migrate his success story beyond Sierra Leone. Such immense potential and growth trajectories offer hope and expectations for Africans, providing African solutions to change their circumstances.&nbsp;



How far can his story go? Only time will tell. From what has been observed, however, it seems destined for continued growth and success. His parting words were, “There is so much to do, so&nbsp;little done.”&nbsp;



For the full Penresa report on Sierra Leone <a href="https://www.forbesafrica.com/africa-undiscovered/2025/04/10/sierra-leone-unlocking-west-africas-investment-potential/">CLICK HERE</a>


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Amadu Juldeh Sowe, Managing Director of BSB International Limited

Redefining Sierra Leone’s Flour Industry

Ecobank delivers tailored banking solutions, empowers SMEs, supports mining and agriculture, and champions financial inclusion with cutting-edge digital solutions.&nbsp;



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“By partnering with fintech and embracing innovation, we’re breaking barriers in banking and enabling access for unbanked populations like never before.” Sebastian Ashong-Katai, Managing Director of Ecobank Sierra Leone&nbsp;
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Ecobank stands out in Sierra Leone’s diverse economic scene for its innovation, inclusivity, and strategic leadership. Sebastian Ashong-Katai, Managing Director of Ecobank Sierra Leone, has led the bank’s business in Sierra Leone over the past year. He has been with the Ecobank Group through key milestones in banking, worldwide collaborations, and community impact over the past 14 years.&nbsp;



“I’ve had the privilege of managing relationships with financial institutions and development&nbsp; organizations such as the UN, ECOWAS, and African Union says Ashong-Katai. His career spans roles at major institutions such as Citibank and Standard Chartered, equipping him with insights that now drive Ecobank Sierra Leone’s transformative agenda.&nbsp;



Ecobank Sierra Leone has grown significantly over the last few years. With seven locations, 28&nbsp;ATMs, and over 200 agents, the bank is dedicated to providing financial services to even the most isolated communities. “Our agent network is pivotal in driving financial inclusion,” he says. Advancements in digital banking augment this broad reach.&nbsp;



Ecobank introduced USSD-based banking, enabling access for non-smartphone users. This initiative, alongside a partnership with fintech and telecommunication companies, has significantly improved access for unbanked populations. “By combining our&nbsp;infrastructure with fintech technology, we’ve expanded our reach to communities previously untouched by formal banking,” Ashong-Katai says.&nbsp;



Ecobank has cemented itself as a vital driver of Sierra Leone’s economic growth. This devotion is exemplified by the bank’s engagement with British International Investments. A US$25 million facility has been committed to help small and medium-sized firms (SMEs), with an economic effect of US$75 million expected over five years. “SMEs are the backbone of any economy,” says Ashong-Katai. “This partnership underscores our commitment to sustainability and economic empowerment.”&nbsp;



Beyond SMEs, Ecobank actively supports the mining sector, a cornerstone of Sierra Leone’s economy. The bank also plays a crucial role in the nation, from facilitating imports and payments for companies to extending financial services to workers. “We don’t just serve the companies; we also bank their employees, making a tangible difference in their lives,” says Ashong-Katai.&nbsp;



Ecobank’s focus on digital transformation extends to education and youth engagement.&nbsp; Initiatives like Junior Savers aim to instill financial literacy and align banking products with the aspirations of Sierra Leone’s young population. “Engaging with the youth is investing in the future,” says Ashong-Katai. Additionally, the bank supports the digitalization of university&nbsp;systems, enabling seamless electronic payments and tailored student banking packages.&nbsp;



In partnership with the Ministry of Communications, Ecobank is advancing AI education, providing schools with resources to embrace technological change. “By equipping students with AI tools, we are preparing the next generation for a tech-driven future,” he says.&nbsp;



Recognizing the pivotal role of women in economic development, Ecobank has launched the Ellevate initiative. This program offers loans, market access, and capacity-building for women-led or women-centric businesses. “Through Ellevate, we’re not just financing businesses; we’re creating opportunities for women to thrive,” Ashong-Katai says. By 2025, the initiative aims to expand its impact significantly across Sierra Leone.&nbsp;



Ecobank helps regional trade under the African Continental Free Trade Agreement through its presence in neighboring nations like Liberia, The Gambia, and Guinea. “Our network uniquely positions us to support businesses engaging in cross-border trade,” Ashong-Katai notes. He claims that the bank’s strong international correspondent banking network benefits import and export businesses, demonstrating its reputation as a reliable partner to investors.&nbsp;



Looking ahead, Ecobank Sierra Leone’s strategic goals align with its vision for a more inclusive and innovative financial sector. These include scaling the Ellevate initiative, deepening engagement in digital banking, initiatives to empower the youth, and facilitating economic integration in West Africa. “We are not just a bank; we are a partner in Sierra Leone’s growth story,” says Ashong-Katai.&nbsp;



For the full Penresa report on Sierra Leone <a href="https://www.forbesafrica.com/africa-undiscovered/2025/04/10/sierra-leone-unlocking-west-africas-investment-potential/">CLICK HERE</a>


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Sebastian Ashong-Katai, Managing Director of Ecobank

A Smarter Approach to Banking for a More Inclusive Economy

Sierra Leone’s largest mining enterprise, drives economic growth through advanced mining, cutting-edge infrastructure, and direct community investments, powering industrial transformation.&nbsp;



“The transition from exporting raw materials to producing high-grade, value-added products represents a major step toward Sierra Leone’s economic independence.” Gilbert Zhao, CEO of Leone Rock Metal Group&nbsp;



Gilbert Zhao, CEO of Leone Rock Metal Group, sees a flourishing future for Sierra Leone based on industrialization, sustainability, and community empowerment. Under his direction, the firm has expanded tremendously since its inception in 2010, from an exploration-focused organization&nbsp;to Sierra Leone’s largest mining venture. Leone Rock Metal Group now provides 18% of the country’s GDP and employs over 10,000 people, cementing its position as a foundation of the local economy. “To operate successfully here, you must understand both the governmental and community systems,” says Zhao. This dual approach has enabled Leone Rock to thrive in a unique socio-political environment.&nbsp;



Originally focused mainly on mining, the company has recently expanded into railway operations, port construction, and maritime logistics. These developments are critical to Sierra Leone’s goal to establish itself as a logistical and industrial hub in West Africa. “Infrastructure is key to mining operations,” Zhao says. “Without modernized systems, ore cannot be hauled or exported effectively.”&nbsp;&nbsp;



At the heart of Leone Rock’s vision is its five-year strategic plan (2021–2027), which aims to double production capacity from 10 million to 20 million tons annually. More significantly, the company is shifting from producing low-grade direct shipping ore (57%) to high-grade concentrated ore (65%). This transition represents a leap toward value addition and technology transfer within Sierra Leone. “Our goal is to help Sierra Leone transition from a mineral-export economy to an industrialized economy,” says Zhao.&nbsp;



Future industrialization initiatives include the construction of smelter plants, processing facilities, and steel factories. Zhao emphasizes the broader impact of these projects: “These facilities not only create jobs but also establish Sierra Leone as an industrial hub, ready to compete on the global stage.”&nbsp;



Leone Rock Metal Group has embraced the Environment, Social, and Governance principles, making sustainability a core part of its operations. The company has introduced renewable energy projects, including solar solutions, to reduce carbon emissions and align with global environmental standards. Zhao describes this commitment as integral to Leone Rock’s philosophy: “It’s about balancing development with environmental protection.”&nbsp;



Equally significant is the company’s Community Development Fund, which invests directly in local projects. This innovative approach ensures that community members have a voice in their&nbsp;development priorities. “We believe growth revenues should benefit the people directly,” Zhao says. “This fund allows communities to determine their most urgent needs.”&nbsp;



Leone Rock’s partnerships with subcontractors and government agencies have fueled innovation and inspired confidence among international investors. Zhao acknowledges the role of government support in streamlining business processes. “The introduction of a one-stop shop for investors and modernized mining laws demonstrates Sierra Leone’s commitment to fostering a conducive investment environment,” he says.&nbsp;



As Leone Rock Metal Group approaches its 15th anniversary, its ambitions remain as bold as ever. Zhao sees the company not just as a business leader but as a catalyst for Sierra Leone’s transformation. “We want to lead Africa’s mining sector into a new era,” he says. With its strategic initiatives and commitment to the community, Leone Rock Metal Group exemplifies the potential of responsible business practices to drive national development.&nbsp;



For the full Penresa report on Sierra Leone <a href="https://www.forbesafrica.com/africa-undiscovered/2025/04/10/sierra-leone-unlocking-west-africas-investment-potential/">CLICK HERE</a>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3.jpg" alt="" class="wp-image-65159" style="width:519px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3-150x150.jpg 150w" sizes="auto, (max-width: 591px) 100vw, 591px" /></figure></div>

Gilbert Zhao, CEO of Leone Rock Metal Group

Sierra Leone’s Mining Growth Paves the Way for Industrialization 

The nation is enhancing infrastructure, streamlining business regulations, and expanding agriculture, finance, and renewable energy, creating a stable, investor-friendly economy with regional trade advantages.​ 



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“Government will rigorously pursue the vision of Eswatini to move from a lower middle-income country to attaining a high-income country classification.” Russell Mmiso Dlamini, Prime Minister of Eswatini
</blockquote>



As Eswatini prepares to commemorate King Mswati III’s birthday on April 19, the event provides more than just royal celebrations; it is also a window into a changing country.



The country has successfully struck a balance between maintaining its rich cultural heritage and creating a future characterized by economic expansion, wise investment, and legislative measures that establish the country as a powerful force on the international commercial scene.



Eswatini has been gradually establishing an identity that combines heritage and advancement after its historic name change in 2018. The departure from Swaziland was a statement of independence and faith in its own sovereignty, not just a rebranding effort. With changes spearheaded by a recently appointed prime minister, the nation is now enhancing its standing as a vibrant and investor-friendly southern African destination.



The government is actively reducing red tape, improving business laws, and creating an environment that supports the success of both domestic company owners and international investors. For individuals wishing to take advantage of Eswatini’s growing economic environment, the emphasis is on actual, observable possibilities rather than simply policy. Large-scale infrastructure initiatives, including digital connection and transportation networks, are making conducting business easier and increasing the nation’s attractiveness to foreign investors.



Eswatini may be small, but it offers enormous potential for businesses. Strategically positioned within the Southern African Customs Union and a committed participant in the African Continental Free Trade Area, the country enjoys privileged access to regional and international markets with minimized trade barriers.



Manqoba Khumalo, Minister of Commerce, Industry, and Trade, recognizes the country’s growing role in the region’s economy.



“We’re creating an environment where ambition and fresh ideas can turn into real success. Our policies are designed to give entrepreneurs and investors the support they need to build lasting businesses in Africa.”



His ministry plays a critical role in ensuring that Eswatini remains an attractive destination for capital and enterprise.



Dumisani J. Msibi, Group Managing Director of FINCORP, emphasizes the nation’s agricultural advantages, saying, “Eswatini’s climate is perfect for farming all year round, which gives us a real advantage. With new trade deals creating fresh opportunities, we’re in a great position to boost our exports in a big way.”



Agriculture is a cornerstone of the economy, fueling employment and creating new revenue streams.



Beyond agriculture, other industries are flourishing. Nick Jackson, Managing Director of the Royal Eswatini Sugar Corporation, highlights the broader economic strides.



“The rate at which things are improving is really going up. Infrastructure is getting better, the workforce is strong, and there’s a lot of energy around investment opportunities here,” he says.



Financial services are expanding, ensuring that businesses, from small startups to large enterprises, have access to capital. This financial growth supports entrepreneurship and fuels innovation across various sectors, strengthening the nation’s economic foundation.



Eswatini is evolving with sustainability and innovation at its core. The country is ramping up investment in renewable energy projects, modernizing its industrial sector, and embracing digital transformation to create a resilient economy that can withstand future challenges.



A major focus is on education and workforce development, ensuring that Eswatini’s people are equipped with the skills needed for the jobs of tomorrow. The government is also fostering a culture of technological advancement, paving the way for an ecosystem of digital entrepreneurs ready to compete globally.



Eswatini is a great option for investors seeking a steady, aspirational, and progressive market. In addition to celebrating another year of rule under King Mswati III, the kingdom is ushering in a new period in which tradition and advancement coexist harmoniously, and there are countless prospects for development.



<a></a>The country is gaining recognition as a dynamic hub for innovation and economic prosperity in Africa, driven by effective policies, a highly skilled workforce, and a strong commitment to sustainable growth.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2025/04/ONLINE-PENRESA_FA-Eswatini-2025-v_02-2.pdf">​Download load the full report here</a>



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ESWATINIT LANDING_web (4)

Eswatini: Africa’s New Promise 

RASAB is promoting Sierra Leone’s digital transformation, by improving its broadband access infrastructure, and integrating fintech solutions that create opportunities and create bridges to global opportunities.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“It’s not just about making money, it is about leaving a meaningful footprint, touching lives, and creating impact for 8.5 million Sierra Leoneans.” Davar Fazaeli, Chairman and CEO of RASAB&nbsp;
</blockquote>



RASAB launched an investment program in 2020 to spearhead a technological transformation underpinned by innovation, inclusion, and sustainability. The company is driving an integrated&nbsp;business model that combines an international internet gateway, mass-market fixed fiber-optic broadband connectivity, 5G mobile data connectivity, and globally integrated digital financial&nbsp;services.&nbsp;



RASAB is a company that has established multiple subsidiary operations and is spearheading a technological transformation in Sierra Leone. Within four years, the group has ventured into&nbsp;market segments and is delivering services considered unachievable or too risky for a market&nbsp;like Sierra Leone.&nbsp;



The market entry point in 2020, was the takeover of the country’s only sub-marine fiber landing station, which is part of the Africa Coast to Europe (ACE) network. Zoodlabs, one of the subsidiaries, entered into a long-term contract with the government of Sierra Leone for the operation, maintenance, and commercialization of the infrastructure, which was licensed for internet bandwidth wholesale to mobile operators and internet service providers. The company made investments in upgrading the infrastructure, notably transitioning its energy source from diesel generators to 100% renewable energy systems; increasing the active landing capacity to increase supply, and adding more traffic pathways to improve service reliability.&nbsp;



Observing the bottlenecks in internet capacity transmission from the landing station, the next step in the investment journey was through Metrocable. This subsidiary invested in 1,900+ km&nbsp;



of terrestrial fiber optic transmission, distribution, and access network covering approximately 87% of the capital city, Freetown. This network ushered in a significant increase in the internet&nbsp;traffic migration capacity to mobile communication towers as well as last-mile customer premises.&nbsp;



The combined effect of Zoodlabs’ efficiency gains; Metrocable’s enhanced transmission and distribution capacity, and the increased capacity of last-mile operators to deliver more to their&nbsp;



customers has seen an increase in the quality of services and a dramatic reduction in internet prices across the value chain. The wholesale internet price dropped by 60% between 2020 and 2024. Additionally, the price of an average 10Mbps fixed home connection fell by approximately 189%; while the number of fixed fiber connections increased by over 300% in the same period. “Our mission is to provide scalable and affordable solutions that address Sierra Leone’s connectivity and financial needs, enabling its people to compete regionally and globally,” says Fazaeli.&nbsp;



Based on its assessment of the significant limitations in the country’s digital financial service&nbsp;space, the group launched Vult, a futuristic fintech service in mid-2024, with a vision to integrate&nbsp;



the country’s financial system with global digital financial ecosystems. The platform’s rapid adoption rate – 25,000+ subscriptions within 90 days – underscores its transformative potential. Vult is already integrated with Visa, Mastercard, and other international financial networks, and has the potential to connect every Sierra Leonean to the global financial system.&nbsp;



The group’s next brave intervention is the launch of a 100% 5G mobile data-only network operation in the country. This investment was justified by the observed limitations in the country’s existing last-mile mobile data infrastructure and its inability to meet the skyrocketing demand for mobile internet. The 5G network deployed in partnership with Nokia and CrossBoundary, will increase the country’s overall mobile delivery capacity, and improve the internet speeds and customer experience.&nbsp;



Together, these initiatives are laying a solid foundation for the government’s digital transformation agenda, which focuses on broadband inclusion and connectivity, innovation and job creation, and e-government service delivery. According to Fazaeli, “Business should be about fostering ethical growth, uplifting communities, and making a meaningful difference in the lives of people, profit is always a byproduct of doing things right.&nbsp;



For the full Penresa report on Sierra Leone <a href="https://www.forbesafrica.com/africa-undiscovered/2025/04/10/sierra-leone-unlocking-west-africas-investment-potential/">CLICK HERE</a>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3.jpg" alt="" class="wp-image-65159" style="width:369px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3-150x150.jpg 150w" sizes="auto, (max-width: 591px) 100vw, 591px" /></figure></div>

Davaar Fazaeli, Chairman and CEO of RASAB

Bridging Connectivity and Opportunity for Sierra Leone’s Communities 

With its strategic location, abundant natural resources, and proactive economic reforms, Sierra Leone is emerging as one of the region’s most promising investment destinations.&nbsp;&nbsp;



From mining and agriculture to technology, renewable energy, and tourism, Sierra Leone’s diversified economy offers significant opportunities for foreign direct investment (FDI).&nbsp;



A Resource-Rich Economy with Strategic Advantages&nbsp;



The country’s mineral wealth—including diamonds, gold, bauxite, and iron ore—has long anchored its economy, attracting sustained global interest. However, the country’s investment appeal extends well beyond mining. With over 5.4 million hectares of arable land and a favorable climate, Sierra Leone is well-positioned to become a regional leader in agribusiness. Opportunities span from large-scale farming to value-added agro-processing for export crops such as rice, cocoa, and palm oil.&nbsp;



“Sierra Leone’s location within West Africa, combined with its natural deep-water ports and growing industrial infrastructure, makes it an ideal hub for trade and logistics,” explains Gilbert Zhao, CEO of Leone Rock Metal Group.&nbsp;



Innovation and Sustainability Driving the Next Phase of Growth&nbsp;



Sierra Leone’s commitment to sustainable development is a cornerstone of its economic strategy. From expanding renewable energy infrastructure to fostering green investment, the country is aligning its development agenda with global sustainability goals.&nbsp;



At the same time, technological advancement is playing an increasingly important role. Rising smartphone penetration and improved digital connectivity are unlocking opportunities in the technology and innovation sector.&nbsp;&nbsp;



“Sierra Leone’s tech ecosystem continues to expand as connectivity improves, creating opportunities for digital solutions across industries,” notes Sekou Amadou Bah, CEO of Orange.&nbsp;



Tourism: An Emerging Growth Driver&nbsp;



Sierra Leone’s natural beauty, rich cultural heritage, and unspoiled coastlines position the country as a rising tourism destination. Government efforts to develop eco-tourism and heritage tourism are part of a broader diversification strategy aimed at showcasing the country’s assets while driving job creation and foreign exchange earnings.&nbsp;



Strengthening the Investment Climate&nbsp;



Since the launch of the National Investment Board (NIB) in 2022, Sierra Leone has actively worked to enhance its attractiveness to international investors. The government offers investment incentives such as tax exemptions, duty-free imports, and profit repatriation, creating a welcoming and transparent investment environment.&nbsp;



At the same time, financial sector reforms are designed to support larger, longer-term investments. The central bank’s plan to increase bank recapitalization requirements by 318% will enhance financial stability and expand lending capacity, enabling greater funding for infrastructure projects and private sector expansion.&nbsp;



The Diaspora Factor&nbsp;



Sierra Leone’s diaspora community also plays a crucial role in the country’s economy, contributing approximately $400 million annually. These inflows strengthen foreign exchange reserves, support local businesses, and help stimulate economic activity, adding to the country’s resilience and attractiveness for investors.&nbsp;



“Diaspora investments not only contribute capital, but also bring global expertise, networks, and entrepreneurial energy into the local economy,” says Davar Fazaeli, Group Founder and CEO of Rasab Group.&nbsp;



Positioned for Sustainable Growth&nbsp;



With its natural advantages, pro-business reforms, and visionary development agenda, Sierra Leone strategically positions itself as a leading investment destination in West Africa.


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3.jpg" alt="" class="wp-image-65159" style="width:397px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/SIERRA-LEONE-MPU-NEW_2025-3-150x150.jpg 150w" sizes="auto, (max-width: 591px) 100vw, 591px" /></figure></div>


<a href="https://cms.forbesafrica.com/wp-content/uploads/2025/04/ONLINE-PENRESA_FA-Sierra-Leone-2025-44Pags-v05.pdf">Download full report here</a>



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SIERRA LEONE LANDING_web (2)

Sierra Leone: Unlocking West Africa’s Investment Potential 

Rokel Commercial Bank integrates modern digital solutions, inclusive lending practices, and international banking standards to empower businesses, communities, and economic development. 



“We are more than a bank; we’re a partner in Sierra Leone’s development, creating financial solutions that impact lives and businesses nationwide.” Dr Ekundayo Walton Gilpin, MD/CEO of Rokel Commercial Bank&nbsp;



Dr R. Ekundayo Walton Gilpin, MD/CEO of Rokel Commercial Bank (RCB), has emerged as a game changer in Sierra Leone’s banking industry. Since his appointment in 2017, Gilpin has led substantial achievements at RCB, establishing it as the country’s premier financial institution. His experience, leadership, and vision demonstrate not just a strong dedication to RCB but also to Sierra Leone’s future economic prospects. 



Upon stepping into his role, Dr Gilpin found a bank weighed down by outdated practices and public skepticism. Recognizing the need for immediate change, he embarked on a strategic rebranding initiative. “Rebranding wasn’t just cosmetic; it symbolized a fresh start,” Gilpin says. The updated logo, featuring a refined shade of phantom blue and gold, encapsulated the bank’s&nbsp;



values of modernity and quality. This visual transformation was complemented by an internal overhaul, ensuring that the bank’s services matched its new image.&nbsp;



A key aspect of this transformation was addressing the bank’s paper-centric operations. “When I arrived, everything was on vouchers. I said, ‘No, no, no. We have to be digital.’ The bank must be in customers’ hands, accessible anytime,” Gilpin says. Today, RCB boasts a robust digital platform, enabling seamless transactions and enhancing customer accessibility.&nbsp;



Under Gilpin’s leadership, RCB experienced a dramatic financial turnaround. In 2016, the bank reported a profit of just 1.5 billion leones (US$65.6 million). By the end of 2017, after implementing strategic investments and workforce optimization, profits soared to 65 billion leones (US$2.8 billion) pre-tax. Gilpin attributes this success to a collaborative effort with a strong board and skilled staff. “We moved from survival mode to growth mode by instilling a culture of excellence and strategic planning,” he says.&nbsp;



The bank’s revitalized financial performance aligns with Gilpin’s philosophy of synchronized economic management. He views RCB as a microcosm of Sierra Leone’s economy, requiring well-coordinated systems to thrive. By focusing on strategic lending and digital innovation, the bank has reinforced its position as a key player in Sierra Leone’s financial system.&nbsp;



Digital transformation has been a cornerstone of RCB’s success. The bank now offers mobile banking applications and 24/7 account access, even during processing hours. These advancements have made banking more convenient for customers, particularly&nbsp;



in rural areas. “We have a young, tech-savvy population that needs a bank to identify with,” Gilpin says. By prioritizing digital innovation, RCB has successfully captured this demographic while maintaining its appeal to traditional customers.&nbsp;



Gilpin’s approach also includes adherence to global banking standards, ensuring stability, and facilitating international transactions. “Our corresponding banks in the U.S., U.K., and Turkey guarantee seamless financial interactions between Sierra Leone and the world,” he highlighted. These measures not only enhance customer trust but also bolster Sierra Leone’s appeal to foreign investors. 



Financial inclusion remains a core focus for RCB. The bank has launched initiatives targeting underserved populations, including salary schemes and SME lending programs. “It’s not just about opening accounts; it’s about providing access to finance and ensuring sustainable repayment,” Gilpin says. By reducing default risks and expanding credit access, RCB is empowering small businesses and individuals across Sierra Leone.&nbsp;



RCB’s growth aligns with Sierra Leone’s Vision 2030, a strategy aimed at economic transformation. Gilpin sees the bank as a vital partner in achieving this vision. “We’re aligning with the President’s goals by fostering a stable financial system and simplifying investment&nbsp;



processes,” he says. By creating a banking environment that supports both local and international businesses, RCB contributes to Sierra Leone’s broader economic ambitions.&nbsp;



Looking ahead, RCB intends to grow its branch network, improve corporate lending tactics, and develop environmental and social responsibility programs. Furthermore, the bank intends to pursue prospects in the sub-region, solidifying its position as a regional financial leader. “We’re building today to secure tomorrow’s growth,” Gilpin says.&nbsp;



With a legacy spanning over a century, RCB continues to evolve, blending tradition with innovation. Under Dr Gilpin’s visionary leadership, the bank is not only redefining Sierra Leone’s banking sector but contributing to its economic resilience and global competitiveness.&nbsp;

Dr Ekundayo Walton Gilpin, MD_CEO of Rokel Commercial Bank

Building Financial Resilience in Sierra Leone’s Banking Sector 

Integrating traditional business acumen with innovative strategies to drive industrial and agricultural transformation, Pee Cee Holding Ltd is fostering a self-sufficient and globally competitive Sierra Leone.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“My vision has always been to focus on producing locally rather than relying on imports.” Mahesh Nandwani, CEO of Pee Cee Holding Ltd&nbsp;
</blockquote>



Established in 1965, Pee Cee &amp; Sons began its operations as a small trading shop in Freetown.&nbsp; Over the following decades, the company rose to become one of West Africa’s most prominent distribution and marketing firms, with a footprint spanning Sierra Leone, Liberia, Guinea, and Senegal. Its diverse portfolio includes internationally renowned brands across multiple categories, as well as a private label brand, Padi, with over 20 products under the umbrella. At the core of this success is Pee Cee Holding Ltd, the parent company that oversees six subsidiaries with operations strategically aligned to enhance local production, bolster regional trade, and fortify supply chain resilience.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="700" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mahnesh-Nandwani-CEO-of-Pee-Cee-Holding-Ltd-1024x700.jpg" alt="" class="wp-image-65087" style="width:462px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mahnesh-Nandwani-CEO-of-Pee-Cee-Holding-Ltd-1024x700.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mahnesh-Nandwani-CEO-of-Pee-Cee-Holding-Ltd-300x205.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mahnesh-Nandwani-CEO-of-Pee-Cee-Holding-Ltd-768x525.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mahnesh-Nandwani-CEO-of-Pee-Cee-Holding-Ltd-1536x1049.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mahnesh-Nandwani-CEO-of-Pee-Cee-Holding-Ltd.jpg 1575w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Mahesh Nandwani, CEO of Pee Cee Holding Ltd</figcaption></figure></div>


Mahesh Nandwani, the company’s CEO, has steered Pee Cee Holding Ltd toward redefining Sierra Leone’s industrial and agricultural landscape. “My vision has always been to focus on producing locally rather than relying on imports. Whatever we can make or grow in Sierra Leone, I believed we should. That’s what led me to gradually expand into industries,” he shares.&nbsp;



His focus on localized production anchors Pee Cee Holdings’ strategy and exposes the&nbsp; precariousness of import-reliant economies while unlocking the vast potential of self-sustained growth.&nbsp;



One of Pee Cee Holdings’ most ambitious undertakings is Pee Cee Agriculture Ltd, a subsidiary poised to redefine the agricultural landscape of Sierra Leone. At the heart of this effort is&nbsp; a 646-hectare farm equipped with mechanized irrigation systems, advanced sorting facilities, and high-capacity storage capable of preserving crops for months. Currently focused on onions—a&nbsp;crop for which Sierra Leone imports 80% of its supply—the farm represents a deliberate pivot toward food security. “By the third or fourth year, we aim to significantly reduce onion imports,” explains Nandwani. In April 2024, President Julius Maada Bio visited Pee Cee Agriculture Ltd at Mathen Village, Lokomasama, expressing his support and admiration for the company’s agricultural advancements. The President ceremoniously opened the onion harvest and reaffirmed his support for Pee Cee’s upcoming ventures in rice farming.&nbsp;&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="783" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2-783x1024.png" alt="" class="wp-image-65085" style="width:371px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2-783x1024.png 783w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2-230x300.png 230w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2-768x1004.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2-1175x1536.png 1175w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2-1567x2048.png 1567w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Pee-Cee-2.png 1781w" sizes="auto, (max-width: 783px) 100vw, 783px" /></figure></div>


As the company’s aspirations extend beyond onions, diversification into maize, Irish potatoes, and other high-demand crops is already underway, supported by partnerships with a university to foster local agricultural expertise. Each year, graduates undergo rigorous training programs, with the best candidates offered full-time roles. The firm’s approach reflects a profound understanding of agriculture not as an isolated endeavor but as an interplay of interconnected systems —soil health, mechanization, climate adaptation, and value chain integration. Pee Cee Holdings’ investments in these areas signal a broader recognition that agriculture when treated as a strategic sector, can be a cornerstone of economic transformation.&nbsp;



If Pee Cee Agriculture Ltd lays the groundwork for a self-sufficient Sierra Leone, Jolaks Manufacturing Company Ltd exemplifies how industrialization can turn vision into tangible outcomes. With a refinery processing 9,000 metric tons of crude palm oil monthly, Jolaks has transformed the dynamics of the local market. “This is one of the largest industries in the Mano River Union, processing crude palm oil into vegetable cooking oil. 



The factory opened in 2019 and has been a source of pride for the group and the country, contributing to macroeconomic development, manufacturing, job creation, and value addition,” Nandwani notes. Once reliant on imported vegetable oil, Sierra Leone now not only meets its domestic needs but also exports to neighboring countries, including Senegal and Liberia. The refinery’s outputs, including stearin and Palm Fatty Acid Distillate (PFAD), fuel downstream industries such as soap manufacturing, creating a ripple effect of economic activity. 



“Crude palm oil yields many byproducts, and our&nbsp; latest plan is to diversify further by producing sweet, condensed milk locally in Freetown,” notes Nandwani. Similarly, Milla Group S.L. Ltd, the group’s flagship plastics subsidiary, has transcended its initial purpose of addressing post-war water distribution challenges. Today, it is a dominant force in Sierra Leone’s plastics industry, producing water tanks, PVC pipes, and consumer goods that are integral to the region’s development.&nbsp;



The introduction of Padi seasoning cubes is another feather in Pee Cee Holdings’ umbrella. Once packaged abroad, these products are now manufactured locally, reinforcing the group’s philosophy of backward integration. “Now we’re packaging it here in Cline Town under Padi,” says Nandwani. This shift reduces costs and strengthens Sierra Leone’s manufacturing ecosystem by creating jobs and fostering local expertise.&nbsp;



Pee Cee Holdings’ pipeline of projects reveals a deliberate strategy to deepen its impact. The company plans to expand its agricultural operations to 400–500 hectares, enhance mechanized&nbsp; systems, and establish partnerships with companies in Côte d’Ivoire and Guinea. Additionally, an investment hub in Cline Town is due to be installed in May/June 2025. It is designed to centralize storage, sales, and distribution while reducing logistical costs. The hub, strategically located near the port, positions Pee Cee Holding Ltd to serve both local and regional markets more effectively.&nbsp;&nbsp;



In 2020, the Covid-19 pandemic laid bare the vulnerabilities of Sierra Leone’s reliance on imports, but Pee Cee Holding Ltd turned this disruption into an opportunity for recalibration. The company aligned its investments with the government’s Feed Salone initiative, prioritizing food security and agricultural self-reliance. This pivot showcases the firm’s resilience in navigating global challenges and positioning itself as a key contributor to national priorities.&nbsp;



In taking these measures, Pee Cee Holding Ltd serves as an archetype of what businesses must become to thrive in the complex realities of the 21st century. At its core is a recognition that businesses thrive best in societies that are thriving, and every investment in local capacity building is an investment in the company’s own longevity. As Pee Cee Holding Ltd prepares&nbsp;



to enter new markets and scale existing operations, its trajectory offers a blueprint for what is possible when business acumen meets visionary leadership. “I encourage investors to explore&nbsp; agriculture, which is one of the most lucrative opportunities in Sierra Leone,” notes Nandwani. “Our land and soil are among the best I’ve seen anywhere. Beyond agriculture, there is significant potential across industries, as Sierra Leone has a limited industrial base. The local population is eager for locally manufactured products, making it far more beneficial to produce these items domestically rather than relying on imports and spending foreign exchange.” Through its ventures in agriculture, manufacturing, and retail, Pee Cee Holding Ltd is writing a new narrative for Sierra Leone—one where self-reliance, innovation, and strategic thinking&nbsp; redefine what’s possible.&nbsp;

Pee Cee Agriculture Ltd

Turning Crops and Commerce into a Growth Story 

A nation where African, European, and Asian cultures converge, Seychelles leads in marine protection, champions digitization, and drives bold, eco-focused economic transformation.



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“With unity, the same focus and discipline, the future can only be great and I believe Seychelles can be a true model not just for the region, but for the continent and for the world.” – H.E. Wavel Ramkalawan, President of Seychelles 
</blockquote>



Seychelles, a country in the Indian Ocean, symbolizes cross-cultural cooperation, environmental conservation, and progressive innovation.&nbsp;&nbsp;



A microcosm of resilience and sustainable development, the island country is much more than just a tourist haven with its immaculate beaches, abundant marine species, and rich cultural legacy; it is a model for countries attempting to strike a balance between sustainability and growth as it forges ahead.&nbsp;



The story of Seychelles is written in its people — a vibrant mix of African, European, and Asian origins. This confluence of cultures vividly symbolizes Victoria, the world’s smallest capital city. Wavel Ramkalawan, the President of Seychelles, says, “I believe Seychelles can be a true model not just for the region but for the continent and for the world”.&nbsp;&nbsp;



Seychelles’ blue seas are not just beautiful but essential to the nation’s existence. The country has established itself as a world pioneer in marine conservation, with a Marine Spatial Plan protecting more than 32% of its waters and aggressive goals to preserve its seagrasses and mangroves by 2030. This ecological foresight is a socio-economic need as well as an environmental strategy.&nbsp;&nbsp;



Bernard Georges, Senior Partner of Georges &amp; Co, Attorneys, adds, “Seychelles is a clean, safe, and democratic country with a highly intelligent population. We need to capitalize on these remarkable strengths”.&nbsp;



For a country with limited landmass and resources, it has pioneered a unique governance model that values precision and innovation. One striking example is the government’s digitization initiative.&nbsp;&nbsp;



“Digitization reduces friction, enhances citizen services, and promotes economic efficiency,” says Tom Marten, Managing Director of Emerging Markets at Travizory.&nbsp;&nbsp;



By moving toward a paperless administration, Seychelles ensures inclusivity and fosters global connectivity, creating a model other nations might aspire to replicate.&nbsp;



Historically reliant on tourism and fisheries, Seychelles is laying the groundwork for economic diversification.&nbsp;&nbsp;



Gopi Dubasia, Visionary Entrepreneur and Director at Shreeji Group says, “We must innovate beyond the familiar pillars of tourism and fishing to unlock Seychelles’ true potential”. Dubasia envisions opportunities in sectors such as green technology, education, and sustainable real estate — areas where the country’s small size becomes an advantage, enabling agility and niche innovation.&nbsp;



The nation’s leadership is also focusing on creating an enabling environment for local entrepreneurs and international investors. High-value industries, such as IT and eco-friendly manufacturing, are beginning to take root, supported by a stable democratic system and a forward-thinking government.&nbsp;&nbsp;



As Nazim Mahmood, Managing Director of Absa Seychelles says, “Seychelles is open for business. For the smart investor, there is money to be made here”.&nbsp;



In Seychelles, the future is not a distant horizon but a vibrant reality in the making—a harmonious blend of human potential and natural wonders. Though small in scale, this island nation has a message for the world: progress is possible when you innovate with purpose, care for the environment, and honor your cultural roots.&nbsp;



<a href="https://cms.forbesafrica.com/wp-content/uploads/2025/02/ONLINE-PENRESA_FA-2025-SEYCHELLES-v09-1.pdf">Download full report here</a>



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LEADING SEYCHELLES 207A2317

A Harmonious Model Of Growth, Sustainability and Diversity 

Shelter Afrique Development Bank addresses Africa’s US$1.4 trillion housing gap with tailored financing like green bonds, diaspora financing, and climate-resilient housing, impacting millions.&nbsp;



In October 2023, a defining moment unfolded for Shelter Afrique. The institution, long recognized as a cornerstone in African housing finance, transformed into the Shelter Afrique Development Bank (ShafDB), a transition ratified at the Extraordinary General Meeting in Algiers. Under the visionary leadership of CEO Thierno-Habib Hann, this transformation was more than a rebranding—it was a rebirth, equipping ShafDB with the governance and tools necessary to tackle Africa’s housing deficits head-on. “Our transition represents a paradigm shift, equipping us with the tools and governance necessary to tackle housing deficits across Africa,” Hann reflects.&nbsp;



The past year has marked a period of remarkable transformation for ShafDB. Achieving profitability in 2023 after a challenging financial period was a significant milestone, highlighting the institution’s renewed strength and commitment to economic sustainability. This success was accompanied by recognition from the African Union and UN–Habitat’s inaugural African Urban Forum which designated ShafDB as the anchor resource mobilization partner for housing and urban development, solidifying its pivotal role in shaping Africa’s housing future. Furthermore, ShafDB was honored with the “Pan-African Development Bank Leadership Award – A Pioneer in Housing Finance” at the 40th Annual African Union for Housing Finance Awards Gala, a testament to its 42-year legacy in advancing sustainable housing across the continent.&nbsp;&nbsp;



“Our Pan-African mandate allows us to tackle Africa’s housing deficit head-on, leveraging partnerships and cutting-edge technologies to meet this critical need.” 



As ShafDB looks to the future, it is clear that the journey is only just beginning. The rebranding process, which symbolizes the organization’s broadened vision, will culminate with launching a bold new visual identity in 2025. Hann sees this evolution as a reflection of the bank’s strategic priorities: enhancing housing impact by providing affordable housing finance solutions and technical assistance, ensuring financial sustainability through profitability and robust asset management, and strengthening organizational governance to support its growing mandate. These goals align with Africa’s immense challenges, where over 53 million housing units are needed—requiring an estimated US$1.4 trillion to bridge the gap. With urbanization projected to double the continent’s urban population by 2050, ShafDB is uniquely positioned to address these pressing needs.&nbsp;



ShafDB is leveraging innovation and partnerships to scale its impact to achieve its ambitious vision. Engaging the African diaspora to mobilize remittances for housing projects and embracing digital financing platforms are key strategies that reflect the bank’s forward-thinking approach. “Technology and diaspora contributions are game-changers, enabling us to scale&nbsp;



solutions effectively,” Hann notes. By working closely with governments, communities, and multilateral organizations, the bank ensures its projects align with local socio-economic realities while adhering to international standards.&nbsp;



The commitment to excellence extends to ShafDB’s internal operations, where global experts are brought on board to enhance governance and develop transformative solutions. These efforts have resulted in projects that improve living conditions, create resilient urban environments, and drive economic opportunities. Hann succinctly captures this mission’s essence: “We’re not just financing houses; we’re building futures for Africans.”&nbsp;



As ShafDB moves forward, it is strengthening partnerships with institutions such as the Arab Bank for Economic Development in Africa (BADEA), the African Development Bank Group (AfDB), and Afreximbank to expand its reach and mobilize additional resources. Hann emphasizes the importance of this collaborative approach: “Our journey is one of continuous adaptation and collaboration, ensuring we meet the evolving needs of the continent.”&nbsp;

Thierno-Habib Hann, CEO of Shelter Afrique Development Bank

Redefining Africa’s Urban Future Through Housing and Development 

Kenya is becoming a hub of innovation, sustainability, and opportunity, offering a roadmap for Africa&#8217;s future. Read more from CEOs and thought leaders about the progress the country is making and its investment potential in this Penresa report.



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“Kenya’s vision is to build an economy that supports enterprise, empowers youth, and creates opportunities for all. Together, we are laying the foundation for sustainable and inclusive growth.” – H.E. William Ruto, President of Kenya​&nbsp;



Kenya’s remarkable transformation into one of Africa’s most dynamic economies is a testament to visionary leadership and well-executed policies.



President William Ruto has placed inclusivity, sustainability, and innovation at the center of the nation’s progress, creating a platform for long-term growth that is inspiring, both locally and globally.



Central to this success is Kenya’s renewable energy leadership. Approximately 90% of Kenya’s electricity is generated from clean energy sources, such as geothermal, wind, and solar power, with projects like the Olkaria Geothermal Plant and Lake Turkana Wind Power Project driving sustainability and energy independence.



“Kenya is not just transitioning to renewable energy; we are positioning ourselves as a global leader in sustainability,” says James Opiyo Wandayi, Minister of Energy and Petroleum.



These initiatives support not only environmental goals but also the energy needs of key sectors like agriculture and technology. Agriculture, the backbone of Kenya’s economy, is also evolving. Through climate-smart practices and local value addition, the country is reducing its dependence on raw exports while enhancing job creation.



President Ruto highlighted this transformation, stating, “Our priority is to process more of our agricultural produce locally. This will create jobs, drive economic diversification, and improve our global competitiveness”.



Efforts to empower smallholder farmers and cooperatives are already showing results, particularly in the tea and coffee sectors, where locally processed exports are growing. Andrew Mwihia Karanja, Minister of Agriculture, added, “By supporting cooperatives and expanding access to markets, we are ensuring that farmers benefit more directly from their labor”.



Kenya’s investments in infrastructure and trade are another cornerstone of its development. Positioned within the African Continental Free Trade Area (AfCFTA), Kenya is expanding its logistics and connectivity to support regional and international commerce. The Standard Gauge Railway project, backed by international partnerships, has improved efficiency in moving goods across the region, cementing Kenya’s role as a trade hub.



The country’s emphasis on youth empowerment also stands out. With over 75% of its population under 35, programs in education, entrepreneurship, and digital skills training are preparing the next generation to lead.



“Our young people are driving innovation in sectors ranging from agritech to fintech, and we are committed to providing them with the resources they need to succeed,” says Simon Chelugui, Minister of Cooperatives and MSMEs.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2025/02/PENRESA_FA-Kenya-2025-vONLINE_07.pdf">Download full report here</a>



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Beyond its economic achievements, Kenya’s approach to conservation and sustainable tourism is setting an example for other nations. The Maasai Mara, one of the world’s most renowned ecosystems, is benefiting from community-driven conservation initiatives that balance tourism with biodiversity protection.



“Our commitment to sustainability is reflected in our efforts to preserve our natural heritage while ensuring it contributes to economic growth,” notes Peninah Malonza, Cabinet Secretary for Tourism.



Kenya’s ability to integrate sustainability, innovation, and inclusivity across its policies has created an environment that attracts both local and global investors.



“Kenya is open for business. Our policies are designed to foster enterprise, attract investment, and drive industrialization,” said President Ruto.



These efforts continue to build confidence among international stakeholders, making Kenya a model for sustainable development in Africa.



The nation’s story is far from finished. Its blend of strategic leadership, resourcefulness, and innovation is positioning it as a global player and offering a unique opportunity for those ready to contribute to its remarkable progress.



This is Kenya—a nation that is not just growing but thriving, setting the standard for what Africa can achieve. 
</blockquote>

Kenya,,Nairobi,,Indipendence,Monument,(film,Scan)

Kenya: An Innovative and Sustainable Hub For Africa 

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<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="181" height="70" src="https://cms.forbesafrica.com/wp-content/uploads/2025/02/AAIC-logo3.png" alt="" class="wp-image-64542"/></figure></div>


The Japanese investment firm, AAIC is dedicated to nurturing the growth of innovative healthcare start-ups in Africa, providing strategic support for their multinational expansion.&nbsp;&nbsp;



Since 2017, AAIC Investment has invested in over 50 start-ups in Africa’s healthcare and innovation sectors. One of these start-ups, fintech firm Chipper Cash, grew into a unicorn in 2021 &#8211; a testament to AAIC’s discerning eye for investment opportunities. From a startup offering affordable care to underinsured blue-collar workers to another providing an AI-assisted teleradiology platform, the Japanese investment firm supports diverse companies striving to change the medical industry across the continent. “One of our biggest milestones last year was reaching a cumulative total of US$40 million for our African Innovation Healthcare Fund (AHF2),” says Hiroki Ishida, Managing Director of AAIC Partners Africa (Kenya). The firm raised funds from Japanese institutions, such as the state-owned Development Bank of Japan, which began exploring opportunities in Africa following their focus on the Asian market. “One of our newest investors is Hokkoku, a regional bank in Japan that, with AAIC’s support, has opened its first office in Kenya among Japanese commercial banks. They have already begun providing cross-border loans,” notes Ishida, emphasizing that AAIC actively seeks strategic partnerships with investors from Japan and beyond.&nbsp;



Kenya’s healthcare sector has changed in the past few years. “MYDAWA is one of our oldest portfolio companies. It was an e-commerce firm focused on pharmaceuticals, selling prescription drugs online and delivering them to people’s homes within three hours in Nairobi. Now, they have opened a call center, providing telemedicine services eliminating the need for people to go to hospitals,” says Ishida, while mentioning that MYDAWA has expanded its geographical reach and acquired the Guardian Health Pharmacy in Uganda, one of the largest pharmacies in the country with over 20 branches.&nbsp;



The Managing Director reflects on the evolving landscape of healthcare services in Africa, pointing to consumers’ demand for comprehensive solutions. This has resulted in companies recognizing the need to offer a holistic range of services, from consultation to treatment and aftercare. This shift departs from traditional partnerships, as businesses increasingly integrate diverse offerings under a single umbrella. In alignment with this evolving landscape, the firm’s 2025 plan prioritizes the consolidation of services provided by the start-ups it supports. “We’re exploring opportunities for our companies to consolidate their services and form strategic partnerships within specific areas or regions. This will enhance the patient journey, facilitate increased revenue generation, and attract more investors,” notes Ishida. &nbsp;



Technological advancements and digitalization have paved the way for a paradigm shift in the insurance industry. Traditional insurance companies often grapple with the high costs associated with a human-centric sales model. In contrast, the innovative companies that AAIC supports leverage digital platforms to streamline operations and target middle-and lower-income households, offering more affordable and accessible insurance solutions. “We have strategically invested in BIMA, a company operating in Ghana and Tanzania that provides more affordable medical insurance, priced at an average of two to three dollars per month, along with telemedicine services. This will expand access to healthcare for a wider segment of the population,” Ishida says, mentioning that while some patients may require hospital visits for further diagnosis or consultation, 70-80% of cases can be effectively addressed through telemedicine consultations. &nbsp;



AAIC Investment, with its deep understanding of the African landscape, recognizes the untapped potential for Japanese involvement in the region. “We have a deep understanding of the healthcare sector in Africa. We have offices in Kenya, Nigeria, South Africa, and Egypt. We share our knowledge and experience in the sector with investors and provide them options to partner with our portfolio companies,” says Ishida. Through its fund, the company aims to maximize returns for its investors while introducing innovative Japanese technologies and expertise to the continent. By supporting partnerships between AAIC’s portfolio companies and Japanese businesses and deepening the engagement between the two nations, AAIC is paving the way for a mutually beneficial partnership that will shape the future of healthcare in Africa.&nbsp;&nbsp;

Hiroki Ishida, Managing Director of AAIC Parnters Africa (Kenya)

Building a Strong Healthcare Industry Across Africa 

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<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1000" height="498" src="https://cms.forbesafrica.com/wp-content/uploads/2025/02/kenbright-logo-2.png" alt="" class="wp-image-64548" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/02/kenbright-logo-2.png 1000w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/kenbright-logo-2-300x149.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/kenbright-logo-2-768x382.png 768w" sizes="auto, (max-width: 1000px) 100vw, 1000px" /></figure></div>


Kenya exemplifies how natural resources, innovation, and community-driven efforts can converge to create a sustainable, resilient, and globally impactful future.&nbsp;&nbsp;



Kenya is a prime example of how a country may use its abundant natural and human resources to create a sustainable, innovative, and prosperous future. Kenya has a key role in Africa’s transition because its strategic location as an East African center combines a solid economic base with a dedication to global sustainability goals.&nbsp;



One of the pillars of Kenya’s sustainability initiatives is its leadership in renewable energy. Kenya is at the forefront of geothermal, wind, and solar energy, generating more than 90% of its power from renewable sources. Two notable accomplishments that highlight the country’s aspirations are the Olkaria Geothermal Plant and the Lake Turkana Wind Power Project.&nbsp;&nbsp;



“The issue of greenhouse gases remains critical,&nbsp; and Kenya’s focus on geothermal development is a forward-thinking solution,” says Ezekiel Macharia, Managing Director of Kenbright. “Our efforts to de-risk geothermal energy projects have been instrumental&nbsp; in promoting sustainability and reducing dependency&nbsp; on carbon-intensive energy sources.” These programs are crucial for halting climate change, guaranteeing energy independence, and giving sectors like technology and agriculture a sustainable foundation.&nbsp;



Kenya’s real estate market is changing quickly, adopting sustainable designs and green building techniques. Eco-friendly concepts are being included in urban development, improving resource conservation and energy efficiency. Michael Aldridge, CEO of Kofisi, highlights how shared workspaces contribute to sustainability: “Shared workspaces reduce the need for new construction, extending the economic life of existing buildings. They are inherently sustainable and help businesses embrace greener practices.” This pattern reflects a larger dedication to striking a balance between ecological preservation and development, which has been a defining feature of Kenya’s recent history.&nbsp;



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&#8220;Kenya’s strategic location and its robust trade agreements make it an ideal launchpad for businesses seeking to scale across Africa.” Ezekiel Macharia, Managing Director of Kenbright&nbsp;&nbsp;
</blockquote>



Kenya’s economy still depends heavily on agriculture, which is changing due to sustainability and technology. Climate-smart agriculture and regenerative farming methods are improving production while lessening their negative effects on the environment. Startups in Kenya are using technology to guarantee food security and encourage resource efficiency.&nbsp;&nbsp;



These innovative practices position Kenya as a leader in sustainable agricultural solutions, capable of addressing both local and global challenges in food production. &nbsp;



Kenya’s healthcare landscape is another testament to its adaptability and forward-thinking approach. Hiroki Ishida, Director of AAIC, points to advancements in digital healthcare: “Kenya is making strides with telemedicine and affordable medical insurance. Innovations like these are reshaping access to healthcare, making services more accessible and scalable.” &nbsp;



One of Kenya’s most valuable resources is its biodiversity, which the country has embraced via community-driven conservation efforts. Initiatives like those in the Maasai Mara conservancies show how local people may take the lead in attempting to strike a balance between ecological preservation and economic growth. In addition to protecting wildlife, these programs encourage eco-friendly travel, which boosts Kenya’s economy and serves as an example for other countries. &nbsp;



Kenya’s stability, skilled workforce, and infrastructure make it a prime destination for global investors. As Macharia says, “Kenya’s strategic position within Africa, coupled with trade agreements like the African Continental Free Trade Area, allows businesses here to reach markets across the continent with ease.”&nbsp;



Additionally, Kenya’s robust internet infrastructure and reputation as a transport hub provide a seamless environment for global operations. Ishida says, “Kenya’s healthcare and tech ecosystems are evolving rapidly, offering tremendous opportunities for both innovation and impact.”&nbsp;



Kenya is a center of innovation, sustainability, and advancement more than just a geographic center. The country is a comprehensive example of sustainable development because of its dedication to renewable energy, creative approaches to healthcare and agriculture, and community-led conservation initiatives.&nbsp;



As the world grapples with climate change and resource constraints, Kenya offers a blueprint for a sustainable and inclusive future. “Kenya embodies the essence of resilience and opportunity,” Aldridge says. This spirit, combined with strategic vision, positions Kenya as a leader not just in Africa, but on the global stage.&nbsp;



For investors, innovators, and environmentalists alike, Kenya represents a destination where ambition meets possibility—a beacon for the Africa of tomorrow.&nbsp;&nbsp;

Ezekiel Macharia, Chief Actuary and Managing Director of Kenbright

Shaping Tomorrow Through Visionary Leadership and Global Collaboration 

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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cms.forbesafrica.com/wp-content/uploads/2025/02/AMG-New-Logo-High-Res-1024x576.png" alt="" class="wp-image-64538" style="width:362px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/02/AMG-New-Logo-High-Res-1024x576.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/AMG-New-Logo-High-Res-300x169.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/AMG-New-Logo-High-Res-768x432.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/AMG-New-Logo-High-Res-1536x864.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/AMG-New-Logo-High-Res-2048x1152.png 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>


AMG Realtors delivers affordable land ownership solutions, fostering economic growth in Kenya while supporting community development through education initiatives and international investment opportunities. 



AMG Realtors has established itself as a leader in Kenya’s real estate market, contributing significantly to the country’s economic growth and community development. Under Director Andrew Muthee Gitau’s leadership, the company has continued to grow its influence both locally and internationally, with a focus on making real estate accessible to all while giving back to society. According to Gitau, AMG Realtors is committed to providing “a one-stop solution for all real estate needs in Kenya,” assisting individuals in securing their future through affordable land ownership. 



  Real estate is a critical component of Kenya’s economy, and AMG Realtors has played a significant role in its expansion. According to the Kenya National Bureau of Statistics, the real estate business generated 10.3% of the country’s GDP in 2023. “AMG Realtors has been at the forefront of facilitating land ownership, which is critical for wealth creation and job growth in Kenya,” Gitau says. The company is aligned with the country’s initiatives that have resulted in the creation of about 200,000 direct and indirect jobs, greatly increasing the nation’s employment rates. 



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="700" src="https://cms.forbesafrica.com/wp-content/uploads/2025/02/Agnes-Waruguru-Njaaga-Co-Director-of-Amg-Realtors-1024x700.jpg" alt="" class="wp-image-64539" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/02/Agnes-Waruguru-Njaaga-Co-Director-of-Amg-Realtors-1024x700.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/Agnes-Waruguru-Njaaga-Co-Director-of-Amg-Realtors-300x205.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/Agnes-Waruguru-Njaaga-Co-Director-of-Amg-Realtors-768x525.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/Agnes-Waruguru-Njaaga-Co-Director-of-Amg-Realtors-1536x1049.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/Agnes-Waruguru-Njaaga-Co-Director-of-Amg-Realtors.jpg 1575w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Agnes Waruguru Njaaga-Co-Director of Amg Realtors</figcaption></figure>



AMG Realtors supports people and companies to invest in real estate by offering cheap land alternatives, hence promoting infrastructure development and strengthening local economies. Gitau underlines that “securing land ownership is a key driver of wealth creation,” citing research that demonstrates that a 10% increase in land ownership leads to a 2% rise in family wealth in Kenya. 



&nbsp;The vision of AMG Realtors extends beyond Kenya’s borders. The company’s recent venture into the American market with its Texas-based project, ‘Kenya One,’ exemplifies its ambition to offer diverse real estate investment opportunities. According to Gitau, this expansion is primarily aimed at “connecting with the Kenyan diaspora” and providing a secure investment platform.&nbsp;



Texas, with its thriving economy, is a good location for real estate investments. “The state’s population is growing by 1.5% annually, and its US$2 trillion GDP makes it the 9th largest economy in the world,” Gitau says. With a 20% real estate appreciation rate between 2021 and 2023, Texas offers tremendous prospects for first-time homeowners, growing families, and retirees.&nbsp;&nbsp;



One of AMG Realtors’ unique characteristics is its dedication to social responsibility, particularly through the AMG Foundation. The effort includes the recent establishment of the Kibera Library in one of Africa’s largest informal settlements, where 800 people have already received educational materials in less than a month. “Our libraries are equipped with books approved by the Ministry of Education, offering free access to knowledge for both children and adults,” Gitau says.&nbsp;



The AMG Foundation’s initiatives extend beyond simply delivering books. Beneficiaries benefit from utilities such as power and internet access, allowing them to continue their studies and research without interruption. Gitau underlines the importance of these programs, saying that “education is the foundation of any thriving community, and by empowering communities through knowledge, we aim to inspire the next generation of leaders.”&nbsp;&nbsp;



Moreover, AMG Realtors actively encourages its clients and partners to contribute to these community-building efforts. In September 2024, a percentage of the revenue from each piece of land acquired went towards the expansion of these libraries. “For every US$1,000 invested, 12 books are added to the shelves, and for every US$5,000, a computer is provided,” Gitau says, demonstrating the company’s novel strategy of combining real estate investments with social good.&nbsp;



Under the Affordable Housing Programme, Kenya’s government aims to develop 250,000 low-cost housing units annually. AMG Realtors is aligned with this vision, offering affordable land in areas designated for housing projects. “We collaborate with developers and the government to make homeownership accessible to a larger portion of the population,” Gitau says.&nbsp;



&nbsp; AMG Realtors has undergone significant corporatization, marked by strategic leadership changes enhancing service delivery and governance. Andrew Muthee Gitau transitioned from CEO to Executive Director as of January 2024. This shift has enabled him to focus on broader strategic goals while a newly inducted five-member board has been established to strengthen corporate governance and steer the company toward sustainable growth.&nbsp;

Leading Kenya’s Real Estate Market with Vision and Purpose  

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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="512" src="https://cms.forbesafrica.com/wp-content/uploads/2025/02/TESPOK-logo-02-1024x512.png" alt="" class="wp-image-64533" style="width:518px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/02/TESPOK-logo-02-1024x512.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/TESPOK-logo-02-300x150.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/TESPOK-logo-02-768x384.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/TESPOK-logo-02.png 1181w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>


Revolutionizing Kenya’s ICT sector to enhance digital connectivity and progress. &nbsp;



Kenya’s ICT sector has grown dramatically over the last few decades, and TESPOK (Technology Service Providers of Kenya) has been at the forefront of this revolution. Under Fiona Asonga’s leadership, TESPOK continues to drive technological advancements, infrastructure development, and policy advocacy, establishing Kenya as a key player in the African technology space.&nbsp;



Since its inception in 1999, TESPOK has made significant contributions to Kenya’s ICT sector. The organization was founded during the liberalization of Kenya’s telecommunications market and has grown significantly, from four founding members to over 150 corporate members. TESPOK’s mission has always been to create an environment that encourages technological growth, and this has served as its guiding principle throughout its history.&nbsp;



One of TESPOK’s most notable achievements has been the successful management of the Kenya Internet Exchange Point (KIXP). According to Asonga, the KIXP enables seamless interconnections between large and small service providers, ensuring fast, dependable, and cost-effective internet access throughout the region. This critical infrastructure enables international technology companies to collaborate with local providers, improving connectivity and ensuring high-quality internet service for Kenyans.&nbsp;



In addition to its role in connectivity, TESPOK has taken the lead in cybersecurity by establishing an early warning system that allows service providers to be proactive in addressing cyber threats. “We have an early warning system that sees potential cyber attacks before they happen, allowing service providers to prepare,” says Asonga. This system has enabled TESPOK members to maintain network security and reduce the impact of cyberattacks on Kenya’s ICT infrastructure.&nbsp;



Over the years, TESPOK has influenced major policy decisions, helping to shape Kenya’s ICT regulations. “The ability to influence policy has been one of our greatest strengths, and it continues to be central to our work,” says Asonga.&nbsp;



TESPOK’s policy work includes efforts to review existing legislation and advocate for regulatory reform. As Kenya’s technology sector evolves, policies must be adjusted to meet the demands of modern technology, particularly as new players enter the market, such as Starlink. TESPOK has led these discussions to ensure that all stakeholders in the ICT ecosystem, including satellite and fiber service providers, can coexist and thrive.&nbsp;&nbsp;

Fiona Asonga, CEO of TESPOK

Pioneering ICT Growth Through Policy and Security 

A leading provider of bespoke, hospitality-led office environments across Africa, KOFISI’s award-winning spaces have enabled expansion into four regions of the continent.



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“Our focus has always been on creating workspaces that go beyond the norm— spaces where productivity and hospitality intersect in meaningful ways.” Michael Aldridge, CEO of KOFISI&nbsp;



In a constantly changing corporate landscape, KOFISI has emerged as a market leader in Africa’s serviced office space industry – opening two new locations in 2024/2025 and expanding the footprints of its existing eight centers across the continent. The provider’s emphasis on hospitality-driven office settings, cutting-edge technologies, and sustainability has established a new standard for workplace experiences across Africa. KOFISI is driving the conversation and creating workplaces of the future with innovative spaces that go beyond providing office space.&nbsp;&nbsp;



2024 has been a transformative year for KOFISI, with an impressive 40% growth through the expansion of existing centers in Kenya, Nigeria, and Tanzania and the opening of new territories. Aldridge explains, “We’ve continued to grow organically. Nearly all of our centers have increased in size, which is a clear indicator of the growing demand for sophisticated serviced office environments.” This growth speaks to the global trend for flexible office space, as companies move away from traditional independent office spaces


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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="615" src="https://cms.forbesafrica.com/wp-content/uploads/2025/01/Michael-Aldridge-CEO-of-Kofisi-1024x615.jpg" alt="" class="wp-image-64494" style="width:734px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/01/Michael-Aldridge-CEO-of-Kofisi-1024x615.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/Michael-Aldridge-CEO-of-Kofisi-300x180.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/Michael-Aldridge-CEO-of-Kofisi-768x461.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/Michael-Aldridge-CEO-of-Kofisi-1536x923.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/Michael-Aldridge-CEO-of-Kofisi-2048x1231.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Michael Aldridge, CEO of Kofisi</figcaption></figure></div>


The company’s dedication to quality design and five-star service earned significant recognition this year. KOFISI Square was the regional winner of the prestigious SBID International Design Award 2024 and was voted Africa’s Best Shared Workspace Provider. Additionally, Aldridge was the runner-up for Top Africa Property CEO at the API Summit in September.



Aldridge announced two major projects for 2024: a 40,000 sq ft office facility in Morocco and a 60,000 sq ft center in Rwanda. These initiatives are part of a larger effort to address the growing demand for serviced office spaces in major African markets. KOFISI is also looking at opportunities in Ghana, Egypt, and Ethiopia, demonstrating its commitment to growing its presence across the continent.



A strategic partnership with South Africa-based Workshop17 has created Africa’s largest private network of office spaces, spanning 600,000 sq ft across 22 locations. According to Aldridge, “This partnership is a game changer, not just for KOFISI but for the entire serviced office sector across Africa. It allows us to offer even more product evolution and greater access to our clients.”



Aldridge described the company’s unique approach, explaining that KOFISI champions the concept of the “hotelification” of the workplace. “At KOFISI we believe the modern workspace should offer more than just an office. We’ve always focused on hospitality and customized environments to create a more compelling and productive reason to come to work,” he says.



This hospitality-first approach sets KOFISI apart from competitors and has been well-received by clients.



Looking to 2025, KOFISI has laid out plans for further expansion. “From 2025, we plan to open four new locations each year, each around 80,000 sq ft. We have a pipeline of eight locations that we’re actively discussing in both new and existing cities,” Aldridge says. This expansion will be supported by a Series B capital raise of US$35 million, which the company expects to close by early 2025.



Sustainability is a core value for KOFISI, and the company has made noteworthy efforts towards its ESG targets. “We’ve made significant strides in areas like reducing single-use plastics—our kitchens are now 92% sustainable, reducing food wastage and minimizing single-use plastics,” Aldridge says. KOFISI plans to launch a recycling program in 2025 as well as a hospitality academy to equip people with industry-relevant skills, improving employability and reducing unemployment.



Additionally, the partnership with Workshop17 will create Africa’s largest private gallery of African art within shared office spaces. Aldridge is proud of this initiative and says, “With 600,000 sq ft of office space, we’re supporting African artists and showcasing their work. This is something we’re excited about, as it not only beautifies our spaces but also contributes to cultural sustainability.”



While KOFISI moves across Africa, its roots in Kenya remain strong. Aldridge highlighted the country’s evolving business environment, noting a shift in client demand in 2024. “Companies are still expanding, but they’re doing so in a more consolidated manner,” he says.



With KOFISI’s customizable, service-driven environments, Aldridge is confident that the company is well-positioned to help businesses grow.
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KOFISI Space 1

Shared Workplace Provider Grows Amid Demand for Quality Environments 

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The African Union (AU) has long championed a borderless Africa to increase the movement of African citizens and support economic growth across the continent. This vision is shared by many like-minded leaders, reflected in the swathe of visa-policy changes over the last 12 months. However, defining and implementing borderless policy interventions presents many challenges and contradictions.&nbsp;



Advocates of digital solutions such as eVisas and Electronic Travel Authorizations (ETA) highlight the powerful combination of convenience for travelers and enhanced security screening. Twenty-six African countries offer eVisas to African travelers today, a huge improvement from previous years. Following in the footsteps of the U.K., Canada, and the U.S., more countries, like the Seychelles and Kenya, have embraced next-generation ETAs, offering visa-free entry for all travelers.&nbsp;&nbsp;



For African travelers, these digital systems offer a seamless online experience, ensuring that individuals do not encounter any issues at the border. ETAs are proven to enhance security screening while simultaneously facilitating seamless travel &#8211; driving an 84% decrease in queuing times at Seychelles International Airport and an 80% reduction in processing times in Kenya. &nbsp;



The challenge underlining the AU’s position is staunch opposition to any pre-travel screening, championing the principle that travel for African nationals should not require pre-authorization. While eradicating visa requirements would remove much friction for these travelers, this approach often fails to account for valid security concerns that necessitate advanced screening. &nbsp;



Digitalizing immigration processes gives travelers a faster, cost-effective, and convenient experience &#8211; eliminating burdensome paperwork and expensive travel to embassies. International best practice dictates that border control processes are moved upstream and completed before travel so authorities can have advance notice of who plans to travel. With more time, authorities can better risk-assess travelers and plan interventions if someone is perceived as a threat. &nbsp;



A seamless border should not compromise security in favor of the traveler experience, but the elimination of visas in the name of openness risks exactly that. By introducing an eVisa or ETA, governments can reap the benefits of advance screening and make travel more affordable, secure, and accessible to visitors. The time is now for a paradigm shift in favor of digital systems to deliver the future of travel, today.&nbsp;&nbsp;

e5fa0639-394d-4c29-b26f-f55b355d99cf

Towards a Visa-Free Africa: Misleading statement or bold ambition?   

Through a comprehensive approach that includes regulatory overhaul, grassroots support to its citizens, infrastructure expansion, and strategic partnerships with the private sector, Nigeria is recalibrating the use of its vast natural gas reserves.



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“Nigeria’s motorists can buy petrol at N1,000 per liter or equivalent gas per Standard Cubic Meter at N200,” says H.E. Bola Ahmed Tinubu, President of The Federal Republic of Nigeria.
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Beneath Africa’s soil, a natural gas reserve of over 800 trillion cubic feet can be found, from North Africa’s deserts to the verdant plains of the sub-Saharan region. Nigeria holds the largest reserve of this resource with a sheer volume of approximately 280 trillion cubic feet, ranking ninth globally and making it one of the few nations in the world that have the potential to drive the global shift from coal and oil to cleaner energy.



The West African country is now tapping into its natural gas reserve, 76% of which remains undeveloped, to promote economic growth, energy security, and global competitiveness.



In 2023, President Bola Ahmed Tinubu’s administration introduced the Presidential Compressed Natural Gas Initiative (Pi-CNG) to drive CNG adoption and ease Nigeria into a cleaner energy era. The initiative converts cars to be able to run on CNG with conversion discounts for e-hailing drivers and the deployment of bi-fuel buses and CNG tricycles.



Over US$200 million has already been invested across the value chain of the scheme since its launch. In its drive to boost a gas-powered economy, the federal government has hosted the first-ever CNG Stakeholders and Investors’ Forum with a target to achieve conversions of one million vehicles to gas by 2027.


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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Tuk-Tuk-CNG-1024x683.jpeg" alt="" class="wp-image-63889" style="width:594px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Tuk-Tuk-CNG-1024x683.jpeg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Tuk-Tuk-CNG-300x200.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Tuk-Tuk-CNG-768x512.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Tuk-Tuk-CNG-1536x1025.jpeg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Tuk-Tuk-CNG.jpeg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>


The Nigerian Independent Petroleum Company (NIPCO) supports the initiative through its ‘Switch to CNG’ campaign, driving a nationwide impact into transitioning to natural gas. A game changer for the country’s economy, the introduction of natural gas is already easing the financial burden of fuel prices on Nigerians.



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An increasing emphasis on private sector-led endeavors characterizes the president’s approach to maximizing Nigeria’s gas potential.
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“Nigeria’s motorists can buy petrol at N1,000 per liter or equivalent gas per Standard Cubic Meter at N200,” says H.E. Bola Ahmed Tinubu, President of The Federal Republic of Nigeria.



“Our administration’s Presidential Initiative on CNG Initiative is a flagship program by which we are actively supporting a private-sector-led rollout of critical gas infrastructure to drive innovation and industrialization in Nigeria.”



The president’s CNG initiative aims to create 25,000 jobs and attract $2.5 billion in investment by 2027. Increasing domestic market growth, the nation’s transition to CNG will reduce dependence on imported refined petroleum products.



Another initiative by the federal government is the Ride Share Compressed Natural Gas (CNG) Conversion Incentive Program which aims to provide accessible and affordable transportation for Nigerians. Simultaneously, the Nigerian National Petroleum Company Ltd has commissioned 12 Compressed Natural Gas stations in Abuja and Lagos to reduce transportation costs for Nigerians.



“We know that transportation is responsible for about 14-15% of what an average family spends,” notes Michael Oluwagbemi, Project Director and CEO of the Presidential CNG Initiative.



“CNG for the rideshare industry will mean our young people going to work, school, church, and mosque will be able to afford transportation. CNG is not just a revolution; it is about looking inward for the first time in a long time to use [natural] resources.”



Nigerians seeking credit to convert their cars or build solar systems to power their homes can apply for credit at the Nigerian Consumer Credit Corporation (CREDICORP), which has introduced the Credit Access for Light and Mobility (CALM) Fund.


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<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="957" height="598" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/CNG-vehicle-957x598-1.jpg" alt="" class="wp-image-63887" style="width:662px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/CNG-vehicle-957x598-1.jpg 957w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/CNG-vehicle-957x598-1-300x187.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/CNG-vehicle-957x598-1-768x480.jpg 768w" sizes="auto, (max-width: 957px) 100vw, 957px" /></figure></div>


Providing the foundational structure and guidelines to plan and implement natural gas projects, Tinbu’s administration has launched policy directives that focus on the monetization of Nigeria’s gas resources and the timely execution of projects. The directive aims to compress project contracting cycles from 36 months, at present, to less than six months, increasing the efficient delivery of gas-related projects.



“Nigeria’s gas deposit translates to over US$800 billion and when this is fully harnessed, it will impact our economy directly. We have only accessed a paltry 1.7%, and this shows we are still yet to fully take advantage of this sector,” says Hon. Obongemem Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas).



An increasing emphasis on private sector-led endeavors characterizes the president’s approach to maximizing Nigeria’s gas potential.



“The president strongly believes that private sector-led growth enabled by clear and inclusive government policies is the most enduring path to prosperity for all Nigerians,” says Olu Verheijen, Special Advisor to the President on Energy.



“We will sustain our engagements and collaboration with key investors to ensure we attract not only capital but also the capabilities this sector requires to catalyze job creation, productivity, and income growth across multiple sectors.”



The government’s fiscal incentives to deepen Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) penetration are designed to ease the impact of the removal of fuel subsidies on transportation costs and enable the removal of petroleum and diesel. It also aims to contribute to stabilizing the price of cooking gas in the market and support the transition to clean cooking.



Nigeria’s transition to natural gas is complemented by the government’s focus on improving the nation’s energy infrastructure. The Ajaokuta–Kaduna–Kano (AKK) gas pipeline project, one of these key infrastructure projects worth $2.8 billion, transports natural gas from the southern to the central part of Nigeria.



Natural gas creates multifaceted economic opportunities in Nigeria from supporting gas-fired thermal power plants as the primary fuel for the nation’s electricity generation to supporting industrial growth and improving the living standards of Nigerians. Natural gas also serves as feedstock for industries, especially in petrochemicals, fertilizers, and methanol production, while boosting manufacturing and agro-industries through affordable energy and feedstock.



Beyond its large reserves, Nigeria boasts a strategic export capacity to diversify foreign exchange earnings from natural gas. The nation’s gas exports surpassed 29 billion standard cubic meters in 2023, while the country earned N1.677 trillion in the first quarter of 2024 with natural gas exported to Spain, France, and Belgium.



Emitting less carbon dioxide and other pollutants, natural gas is considered a cleaner fossil fuel and serves a larger purpose of protecting the environment.



“In a world where the environment is crying out for help, where climate change is an undeniable reality, our decision to adopt CNG technology is not just commendable; it is essential,” remarked Zacch Adedeji, Chairman of the Presidential CNG Initiative Steering Committee, adding that in the next three to five years, Nigeria would be saving US$3 million to US$5 billion that the country was spending on Premium Motor Spirit (PMS).



As a signatory of the World Bank’s Global Gas Flare Reduction Partnership principles for global flare-out by 2030 and a country that has ratified the Paris Climate Change Agreement, Nigeria has vowed to remove all flares by 2025 to reduce environmental damage.



Being more efficient and economical, the use of natural gas is supporting large corporations reduce their energy costs.



“Nigerians should see the big picture on the CNG rollout that this is about the future of our children and our country. It’s about making efficient use of the resources that we have, and increasing our energy competitiveness,” notes Toyin Subair, Special Assistant on Special Duties and Domestic Affairs.



“The top ten largest companies in Nigeria don’t use petrol and diesel. They use gas which is why they are making significant profits.”



Nigeria’s vast reserves of natural gas are the cauldron in which its industrial future is being sculpted, shaping a nation ready to lead Africa’s energy transformation.

Leading Image – President Tinubu 30 CNG buses

Nigeria Unleashed: An Emerging Energy Powerhouse

As Lesotho celebrates the 200th anniversary of its founding, it presents investors with a stable, growing market rich in opportunities across tourism, agriculture, and renewable energy, backed by improved infrastructure and investor-friendly policies.  



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“The Bicentennial is a moment of national pride and reflection, celebrating the resilience of the Basotho people. We are commemorating it by investing in heritage and cultural projects that showcase our rich history.” H.E. Sam Matekane, Prime Minister of Lesotho 
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In 1824, King Moshoeshoe I laid the first stones of what would become Lesotho, a nation forged from his vision of unity and strength, where valleys and peaks became both home and refuge for the Basotho people. Now, two centuries on, the bicentennial is a solemn, vital pause—a chance to trace the long path they have walked, a path carved through resilience, wisdom, and an unbroken commitment to sovereignty.&nbsp;&nbsp;



As the “water tower” of Southern Africa, Lesotho holds the unique potential to become a Hydro Nation, with&nbsp; rivers flowing from its highlands offering an immense source of&nbsp; renewable energy. “Lesotho is in a position to establish a sustainable renewable energy and water economy,” says His Majesty King Letsie III of the Kingdom of Lesotho. “Our priority is to satisfy the deficit in our domestic energy demand and to export clean energy and high-quality water to the region. Our goal to fully meet the commitment of the Paris Accord well in advance of 2050 will be attained with the potential of Lesotho being among the first countries in Africa to be a fully carbon neutral electricity generator.”&nbsp;&nbsp;



The country has abundant highland water resources that feed major rivers like the Orange River. The Lesotho Highlands Water Project (LHWP), one of Af rica’s largest inf rastructure undertakings, exports vast amounts of water to South Africa, generating significant revenue for Lesotho while powering the nation’s hydroelectric energy production. “Lesotho has a competitive advantage of having an abundance of water because of the altitude of our location. There is a very high rainfall in the mountains. We also have wetlands, which we refer to as our natural dams,” says Tente Tente, CEO of the Lesotho Highlands Development Authority.&nbsp;&nbsp;&nbsp;



Beyond its abundant water resources, the Southern African nation is known for its rich mineral deposits. “A 145-carat diamond is one of the nine large diamonds we discovered this year. The value of such a diamond can reach up to $40 million,” notes Motooane Thinyane, CEO of Letšeng Diamonds. Beyond diamonds, Lesotho holds untapped potential for other mineral resources, including clays, limestone, and coal, signaling opportunities for diversified mineral exploitation that could further support the nation’s economy.&nbsp;&nbsp;



>>>>>>>>><a href="https://cms.forbesafrica.com/wp-content/uploads/2024/12/ONLINE-PENRESA_FORBES-2024-LESOTHO_28pags-v_ok-1.pdf">Download Report here</a>&lt;&lt;&lt;&lt;&lt;&lt;&lt;&lt;



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<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="591" height="591" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/LESOTHO-MPU-NEW_2024_25-2.jpg" alt="" class="wp-image-63870" style="width:381px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/LESOTHO-MPU-NEW_2024_25-2.jpg 591w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/LESOTHO-MPU-NEW_2024_25-2-300x300.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/LESOTHO-MPU-NEW_2024_25-2-150x150.jpg 150w" sizes="auto, (max-width: 591px) 100vw, 591px" /></figure></div>


The nation has made remarkable progress in inf rastructure, with improved roads and communication networks that enhance connectivity and support economic activities. “We are upgrading our existing road network from 10,000 to over 15,000 kilometers, while changing our existing gravel roads to asphalt roads. On the aviation side, we’ve got an international airport which we plan to strategically grow from servicing flights between Lesotho and South Africa to feeding into a regional hub,” notes Hon. Neo Matjato Moteane, Minister of Public Works and Transport. In education, investments have fostered a more skilled workforce, while advancements in healthcare have strengthened the well-being of the population.&nbsp;&nbsp;



The monarchy of Lesotho plays a pivotal role in shaping the nation’s identity and governance, with King Letsie III serving as a symbol of continuity and unity. Complementing the monarchy is the Prime Minister, who guides the government and implements policies aimed at enhancing population welfare and economic growth with a robust financial sector. “Lesotho has a very strong financial sector in terms of balance sheets. We don’t have banks that can go under tomorrow. The regulator is very close to the banks, and banks are well capitalized and the liquidity is good,” notes Nkau Matete, Managing Director of Nedbank.&nbsp;&nbsp;



Investors should consider Lesotho for its strategic location within southern Af rica, granting easy access to the Southern Af rican Development Community market, while offering a politically stable environment that supports foreign direct investment. “Our tax regime, compared to our neighbors like South Africa, is much better because it’s 10% for manufacturing and 25% for normal tax. Investors can engage in setting up infrastructure for the tourism sector, such as resorts and high-altitude training centers for athletes,” says Hon. Mohlomi Moleko, Minister of Natural Resources. As it looks ahead, Lesotho stands at a crucial moment in its history, ready to embrace a future filled with promise while honoring the richness of its past.&nbsp;&nbsp;

LESOTHO COVER (1)

Lesotho: The Water Tower of Southern Africa 

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“We must all act in harmony to move our country forward and achieve the much-needed economic transformation. Indeed, our best years as a nation are truly within our reach. The will, courage, energy and faith we garner for our transformation will secure us the success we all desire to achieve,” says H.E. Hakainde Hichilema, President of Zambia.
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On October 24, 2024, Zambia celebrates its diamond jubilee in honor of its independence, under the theme, 60 Years Strong: Honouring Our Heritage, Embracing the Future.



As a large, landlocked country with an estimated population of about 21 million people in 2024, as per Worldometer, from 72 ethnic groups, Zambia is steeped in history dating back to the African Stone Age. This while standing proud as one of Africa’s most stable countries with consistently peaceful transitions of power.



Sharing borders with eight countries, namely Angola, Botswana, Democratic Republic of the Congo, Malawi, Mozambique, Namibia, Tanzania, and Zimbabwe, Zambia is also the continent’s biggest copper producer as well as one of the world’s richest countries in terms of natural resources.



The US$259 million Kazungula Bridge, a road and rail bridge over the Zambezi River linking Zambia and Botswana, was inaugurated in May 2021. The bridge has boosted trade and tourism in Southern Africa and provided cross-border cooperation and the regional infrastructure development needed in order to facilitate intra-African trade in the Southern African Development Community (SADC).



On August 24, 2021, H.E. Hakainde Hichilema, described as a businessman, farmer and politician, was sworn in as Zambia’s new president, giving rise to a new dawn for the country and a vision of economic transformation.



He also unveiled the new Green Economy and Environment ministry, emphasizing his administration’s commitment to the mitigation of climate change in the country, continent and the world.



In March 2022, a giant wind-solar hybrid plant was announced which has seen developer and energy group, Chariot build a 430MW project to power copper and gold extraction mining operations.



Zambia is ensuring it is tackling climate change at an institutional level while diversifying its economy and scaling up community-led projects. In 2023, the president approved plans related to the construction of a 71-megawatt hybrid renewable energy project in the Chibombo district.



The 2024 budget has allocated substantial resources to agriculture to bolster initiatives such as irrigation development, fertilizer subsidies, and research and development.



One of Africa’s fastest-growing economies, Zambia’s economy is projected to grow at 4.5% in 2024 aided by strategic interventions in agriculture, tourism, mining, manufacturing, energy and transport sectors while the focus on the rehabilitation and upgrading of existing roads will open and secure further trade corridors with neighboring countries.



Zambia’s dedication to promoting a favorable business environment has saw it score 67 points in the ease of doing business index in 2020, ranking it among the top 10 African economies according to the Doing Business 2020 report published by the World Bank Group.



The country is projecting itself to become a business haven for the continent’s start-ups, with the government’s commitment to building Zambia and helping it to become a technologically-driven economy and business hub.



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Zambia: Driving Change And Connection

Boasting an abundance of natural resources, a young workforce, a growing middle class, and a government-incentivized investment climate, Ghana is positioned as a premier investment destination in Africa. 



For generations, Ghana’s mineral wealth flowed outward, with a stream of gold, manganese, and bauxite feeding the industries of countries all across the globe. In recent years, however, the nation’s mineral resource stewardship has taken a novel shift, with a focus on adding value to its raw natural resources before they reach the global market. The establishment of a 400kg-capacity gold refinery through a public-private partnership in 2024 and the planned construction of a US$450 million manganese refinery this year, marks a bold stride towards this commitment. 



The latter is expected to raise Ghana’s revenue from manganese from the current 27% to nearly 40%, while creating 400,000 jobs for the youth. Large-scale salt mining is another positive development in the country’s economy. “We have a salt mine that is slated to become the biggest salt-producing facility in Africa. We are expanding its capacity from 650,000 metric tons of salt per annum to one million metric tons this year and to two million metric tons by 2027,” says Daniel McKorley, Executive Chairman of McDan Group. With increased demand for renewable energy sources, Ghana’s possession of copper and rare earth elements will also propel the nation to the forefront of the green mining revolution. 



Eliminating tariffs on most traded goods and encouraging regional value chains, the advent of the African Continental Free Trade Area (AfCFTA) has the potential to impact Ghana’s mining industry and other sectors. Ghanaian businesses will benefit from increased market access through the initiative, which will create a market of over 1.2 billion people and a combined GDP of US$3.4 trillion. As the designated host of the AfCFTA organization that will oversee the implementation of the agreement, Ghana plays a prominent leadership role in the initiative, one that is amplified by its strategic location within Africa. “Ghana is centrally located in Africa. It serves as a significant conduit for exports for a number of landlocked countries,” says Sam Aidoo, Executive Director of GCB Bank.  



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As one of the top recipients of foreign direct investment in West Africa, Ghana focuses on continuously improving investors’ experiences by streamlining bureaucratic procedures and offering tax incentives. Julie Essiam, Commissioner General of the Ghana Revenue Authority, says, “Ghana offers a welcoming environment for investors through several key structures. There are temporary taxation arrangements. Foreign investors can benefit from a tax rebate program offering around 5%. Manufacturers located in special economic zones such as the Accra-Tema zone enjoy significant tax breaks, with rates around 25%.” In 2019, Ghana conducted a year-long program dubbed ‘The Year of Return’ that focused on providing investment opportunities to welcome back the diaspora, boosting tourism, and attracting investment. “We have made great efforts to mobilize diaspora investment. Diaspora investors are seen as a source of stable capital, less likely to repatriate funds during periods of economic volatility,” says Alex Dadey, Executive Chairman of KGL Group. 



Building on this collaborative momentum, Ghana fosters a strong partnership with the private sector, leveraging the sector’s capital, expertise, and technology to accelerate the development of needed infrastructure and the provision of service delivery in the country. 



“The future is positive. The key lies in creating a level playing field for investors. This will unlock a domino effect, with increased investment leading to job creation, tax revenue growth, and a thriving economy. However, taking the first step is essential,” notes Mahesh Melwani, Joint MD of Melcom. This commitment to collaboration extends beyond infrastructure projects and reflects a broader national commitment to stability. 



The country has a long history of peaceful democratic transitions, making it a reliable and predictable environment for businesses to invest. Kosi Yankey Ayeh, CEO of Ghana Enterprises Agency, says, “Ghana is a beacon of democracy and stability. We’ve done pretty well as a nation. I think that successive governments and everyone have ensured that we are able to maintain stability through a peaceful transition of power with the future in mind.” From its supportive government policies to its dynamic market and focus on innovation, Ghana stands out as an attractive destination for investors seeking long-term success.

Kwame Nkrumah Circle Interchange in Ghana, Africa. Shot with a drone

Ghana: The Beacon of Democracy Part 2- West Africa’s Investment Powerhouse 

Publicly listed on the Botswana Stock Exchange, ABSA Bank Botswana is transforming Botswana’s digital banking sector and supporting the Southern African country to diversify its economy.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<h2 class="wp-block-heading" id="h-botswana-has-maintained-a-triple-a-rating-in-credit-for-many-years-which-many-countries-can-only-aspire-to-get-keabetswe-pheko-moshagane-managing-director-of-absa-bank-botswana"> “Botswana has maintained a triple-A rating in credit for many years, which many countries can only aspire to get.” &#8211; Keabetswe Pheko-Moshagane, Managing Director of ABSA Bank Botswana </h2>
</blockquote>



Reimagining the way business owners operate across Botswana, ABSA Bank introduced Mobi&nbsp; Tap in 2023, a software application that turns smartphones into point-of-sale machines to accept card payments. This means a simple tap on the phone to complete transactions effortlessly. The initiative aims to support the growth of small enterprises, businesses, and entrepreneurs, as the bank plans to broaden the software application across different sectors. “I would say we have successfully achieved our target when every taxi driver in the country can just tap their phones&nbsp;



for transactions,” says Keabetswe Pheko-Moshagane, Managing Director of ABSA Bank Botswana. The bank aims to reach all merchants in urban and rural areas, from street vendors to taxi drivers, to create a cashless society through an affordable digital payment system.&nbsp;



Evolving into a large financial services company, ABSA Bank emerged in Botswana’s banking industry in 1950. The bank is currently engaged in supporting Botswana develop its capital market with a focus on the country’s pension fund. “We have seen our government taking an initiative to repatriate the pension fund, increasing the threshold that is sitting in the country from the current 30% compared to the 70% offshore. To facilitate the economy and create liquidity in the market, we will, in a phased approach, see that increasing up to 50%. We are designing different instruments that can facilitate the investments of these funds as they come back into the country,” says Pheko-Moshagane.&nbsp;



Botswana largely relies on the extraction of diamonds for foreign exchange earnings and its government revenue. As the nation seeks to diversify its economy to other potential sectors, ABSA has devised key support areas to realize this target, including providing access to finance to other sectors, human capital development, and support to SMEs. “The important question is: how do we build the right credit appetite into other sectors beyond diamond? We have been the pioneers of value chain financing through a product called Enterprise Supply Development. We have disbursed over a billion pula to our SMEs, specifically in the diamond sector. My vision is to take the same model and replicate it in other sectors as I rally behind the government’s vision of diversification,” says Moshagane.&nbsp;



The bank’s F.G. Mogae Scholarship, named after the late Botswanan President, aspires to increase the nation’s human capital in various industries.&nbsp;&nbsp;



Perhaps one of the most unique services of ABSA Bank is its financing model that pivots from traditional lending, supporting SMEs who are often challenged with a lack of financial resources. “Commercial banks request SMEs to present a financial statement to secure a loan. We would rather look at the potential SMEs have to access the market. If they show a case that they’ve got a market that is ready to undertake their product, we will finance them,” says Moshagane. Beyond financial resources, the bank focuses on providing value addition to SMEs through training on topics ranging from strategies to market products to navigating tax obligations.&nbsp;&nbsp;



ABSA Bank invariably follows a self-espoused approach to corporate social responsibility, one that resonates with the age-old adage of ‘teaching a man to fish’. “We have launched a product called ‘SHE Account’ for women entrepreneurs, which stands for See, Hear, Empowered. The account offers training in how to run businesses, free access to an office-like setup in one of our service centers, and access to our Relationship Managers (RMs) that help entrepreneurs build their business case up until they can access finance,” says Moshagane. The bank also prioritizes financing initiatives that have the potential to influence positive social change and environmental sustainability.&nbsp;



Botswana’s economic and political stability as well as its global rating in the banking industry prompts investment. “Botswana has maintained a triple-A rating in credit for many years, which many countries can only aspire to get,” says Moshagane, reflecting on the nation’s stability in finance management and robust infrastructure as some of the opportunities for investors. “We are here to empower Africa’s tomorrow together, one story at a time. Your story matters, and we want to help write every chapter with you. That is why you should partner with ABSA.”&nbsp;

Keabetswe Pheko-Moshagane – CEO of ABSA Bank

Leading the Digital Banking Space in Botswana 

From soil to success, NARDI’s triumph has played a key role in the enhancement of Botswana’s agricultural renaissance.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<h2 class="wp-block-heading" id="h-now-is-the-time-to-invest-in-botswana-s-agricultural-sector-and-partner-with-nardi-for-impactful-growth-professor-julius-r-atlhopheng-ceo-of-nardi-headshot-provided">“Now is the time to invest in Botswana’s agricultural sector and partner with NARDI for impactful growth.” &#8211; Professor Julius R. Atlhopheng, CEO of NARDI (headshot provided) </h2>
</blockquote>



At the forefront of Botswana’s agricultural landscape stands the National Agricultural Research and Development Institute (NARDI), a beacon of innovation and progress under the leadership of Professor Julius R. Atlhopheng. From pioneering research to sustainable practices, NARDI’s endeavors are reshaping the agricultural sector while fostering inclusive growth and economic development.&nbsp;



Atlhopheng commenced the discussion by reflecting on NARDI’s inaugural year, emphasizing the importance of laying robust foundations for sustainable growth. “We focused on establishing a performance management system to optimize human capital and foster a culture of excellence within NARDI,” he explains. Additionally, NARDI prioritized financial sustainability and stakeholder engagement, recognizing them as fundamental pillars for driving meaningful change. “The development of an investment policy and a knowledge management policy was crucial in ensuring efficient operations and fostering collaboration with stakeholders,” he adds.&nbsp;



In its formative year, NARDI also prioritized technology transfer and commercialization frameworks to enhance the agricultural sector’s commercial viability. Atlhopheng stressed the need for an integrated approach, saying, “We developed an integration framework to align&nbsp;



research and development efforts with technology transfer and commercialization initiatives, promoting synergy across all functions.”&nbsp;&nbsp;



As NARDI enters its second year, Atlhopheng outlined plans to revamp systems for enhanced service delivery and align policies and strategies with the institute’s overarching goals. “We are updating our policies and strategies to ensure alignment with our vision and foster greater coordination among stakeholders,” he says. This strategic realignment aims to maximize NARDI’s impact and efficacy in driving agricultural transformation across Botswana.&nbsp;



NARDI’s commitment to agricultural commercialization includes a wide range of methods targeted at increasing Botswana’s agriculture sector’s economic viability. Building on Atlhopheng’s emphasis on inclusion, the institution has implemented adapted programs to meet&nbsp;



the diverse requirements of many social groups. A critical component of this strategy is offering aid and resources to small-scale farmers and underprivileged groups, encouraging them to actively participate in commercial agricultural activities.&nbsp;



NARDI provides farmers with the information and resources they need to increase production and improve crop quality via targeted capacity-building efforts and access to cutting-edge technologies. This includes research into seed technology, organic fertilizers, and precision agriculture, which not only improves yields but also lowers input costs and environmental effects. NARDI advocates for the use of sustainable farming practices, which not only increases the profitability of agricultural businesses but also ensures the long-term viability of Botswana’s agricultural industry.&nbsp;



In addition to assisting individual farmers, NARDI promotes the development of agricultural value chains and agribusinesses, therefore offering new opportunities for economic growth and&nbsp;



employment creation. By establishing linkages between farmers, agro-processors, and other value chain partners, the institution promotes agricultural product commercialization and market reach. This includes programs aimed at improving post-harvest handling and processing&nbsp;



procedures, as well as attempts to establish market ties and promote value-added goods.&nbsp;



Furthermore, NARDI is actively involved in technology transfer and commercialization initiatives, which help to accelerate the movement of research discoveries and breakthroughs from the lab to the market. The institution promotes the adoption of new technologies and creative practices that improve agricultural production and competitiveness in collaboration with the private sector and industry stakeholders. This includes activities to create and promote agricultural innovations, including improved crop types, pest and disease control solutions, and sustainable farming methods.&nbsp;



NARDI is a beacon of excellence in agricultural research and development, positioned to drive dramatic change in Botswana’s agricultural environment. With an unrelenting dedication to quality and a holistic approach to agricultural development, NARDI is ready to lead Botswana into a new age of agricultural prosperity.&nbsp;

Professor Julius R. Atlhopheng – CEO – NARDI

Botswana’s Transition to an Agricultural Powerhouse

A leader in Botswana’s diamond industry, Debswana has fuelled national growth through smart mine solutions, 5G-ready operations, and significant community investments across its mining sites. 



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“Over 55 years, we have not just mined diamonds, we’ve mined possibilities, and growth for the people of Botswana.”  Andrew Maatla Motsomi, Managing Director of Debswana



As Debswana Diamond Company celebrates its 55th anniversary, its path demonstrates the transforming impact of diamond mining in Botswana. Under the direction of Managing Director Andrew Maatla Motsomi, who took over in June 2022, the firm has continued to prosper, preserving its position as one of the world’s leading diamond producers in value and volume.&nbsp;



Andrew Motsomi’s broad career spans three decades, including major posts at the Reserve Bank and the Bank of Botswana, where he eventually served as deputy governor. His international experience includes a special assignment at the International Monetary Fund in Washington, D.C., which reflects his extensive knowledge of economic growth and policy. Motsomi’s academic achievements include a Bachelor’s degree in Economics and Accounting, a postgraduate Diploma in Economic Development and Planning, and a Master’s Degree in Economics, as well as executive programs from top global schools. 



Debswana’s success is based on its operational excellence and use of cutting-edge technologies. “Debswana operates some of the best mining equipment and technologies globally,” Motsomi says. This dedication to technological innovation is exemplified by deploying the Huawei-enabled smart mine solution at the Jwaneng mine, the world’s first 5G-ready smart diamond mine. This system, which has been in operation since December 2021, improves safety and production by automating and monitoring mining activities in real-time. The eLTE 4G private network is now operational across all Debswana mines, including Orapa, Letlhakane, and Damtshaa, providing the steady and dependable connectivity required for contemporary mining operations.&nbsp;



Debswana has been bold in adopting technology over the years, having been the first mining company to set up and operate an automated, fully integrated sorting house over two decades ago.&nbsp;



Debswana’s contribution to Botswana goes well beyond mining. It has been at the heart of the country’s economic growth, contributing significantly toward GDP, foreign exchange reserves, and government revenues. The money earned from diamonds has helped in the construction of schools, hospitals, roads, and other amenities. “Earnings from diamonds, mainly from Debswana, have been key in advancing critical infrastructure, job creation, education, and healthcare services in Botswana,” says Motsomi.&nbsp;



The company’s dedication to community development is substantial and dates back to the early 1970s, when the company started its community donations program, as it was called back then. Since 2019, Debswana has committed over P200 million (US$14.9 million) to clinics, classrooms, roads, and sports development, amongst others. It has introduced over 1,800 female students to STEM, resulting in a new generation of innovators. Debswana has also designated more than 54,500 hectares in Orapa and Jwaneng as biodiversity sanctuaries, providing habitat for thousands of plant and animal species. “Our hospitals in Orapa and Jwaneng care for more than 200,000 patients annually,” Motsomi says, emphasizing the company’s all-encompassing commitment to community welfare. 



Sustainability is important to Debswana’s business strategy. The corporation is concentrating on human elements in safety, mine closure planning and restoration, conservation tourism, and strengthening its social and governance systems. “Debswana will maximize opportunities for sustainable investments, ensuring that sustainability remains integral to our business strategy,” Motsomi says. This commitment guarantees the firm retains its social license to operate and satisfies stakeholder and consumer expectations for diamond equality.  



Debswana celebrates its 55th anniversary by reflecting on its important achievements and milestones. The corporation intends to connect with the community and stakeholders through a variety of activities, emphasizing its historical contributions to Botswana’s growth. “We will be sharing Debswana’s story with Batswana and encouraging them to share their diamond stories,” Motsomi says. This commemoration is about more than simply reflecting on the past; it is also about drawing inspiration for future strategic directions.&nbsp;



Debswana’s journey demonstrates the prospects of locating key investment hubs in Botswana. “Botswana provides peace and stability to its nationals and investors; hence, it is the right time to invest in Botswana,” Motsomi says.&nbsp;



As Debswana journeys into the future, it does so with a legacy of success and innovation that blazes with the luminosity of Botswana’s diamonds and the unbreakable spirit of its people.&nbsp;
</blockquote>

Andrew Maatla Motsomi, Managing Director of Debswana

Five Decades of Diamond Innovation and Transformation 

Access Bank Botswana pioneers inclusive finance while empowering communities with innovative solutions. The bank drives sustainable growth, prioritizing trade, SMMEs, women’s banking, and social impact across the country. 



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“The warm reception from the market and stakeholders is humbling yet motivating whilst paving a path for growth and partnership.” Shepherd Aisam, Managing Director of Access Bank Botswana



Access Bank Botswana stands out in the financial services sector, not just in Botswana but across Africa, due to its commitment to social impact, sustainability, and the empowerment of local businesses and communities. Sheperd Aisam, the Managing Director of Access Bank Botswana, embodies this vision through his passionate leadership and dedication to creating lasting positive&nbsp;



change through transformational and long-term partnerships. With a career spanning over two decades in the financial services sector on the African continent, Aisam brings a wealth of experience and a passion for sustainable development that is evident in every initiative the bank undertakes.&nbsp;



At the heart of Access Bank Botswana’s operations is a profound commitment to improving the lives of Batswana at the core, underpinned by wealth creation, growing wealth, preserving wealth, and leaving a lasting impact. Aisam articulates this vision clearly: “In Africa, we should consider articulating our vision more profoundly by uplifting dignity, poverty alleviation, and wealth creation. These concepts guide our efforts in providing affordable housing products,&nbsp;



agribusiness, education sector expertise, and healthcare sector solutions to name a few.” The bank’s initiatives aim to empower Batswana at each level of the ecosystem, with a particular focus on SMMEs to facilitate trade, payments, collections, and capital raising, supporting sectoral growth.&nbsp;&nbsp;



One of the bank’s significant projects in 2024 is the launch of its home-grown, tailor-made, and affordable housing proposition. Aisam elaborates, “We are dedicated to creating housing&nbsp;



solutions that demonstrate we understand that the housing market in the lower end of the spectrum is underserved.” This initiative not only addresses the housing deficit but also uplifts&nbsp;



communities by providing stable living conditions.&nbsp;&nbsp;



Aisam speaks passionately about the bank’s initiatives to support women, recognizing their crucial role in societal development. “Statistically, women are an anchor in our African communities and more so on financial literacy,” he explains. “By focusing on women-led businesses and financial inclusion, we can drive substantial economic growth.”&nbsp;



Access Bank Botswana prides itself on being a truly indigenous African bank, uniquely positioned to understand and meet the needs of African clients. “We are an African bank that understands the needs of Africans,” says Aisam. “This gives us a distinctive edge in delivering relevant and innovative financial solutions.” &#8211; The bank’s focus on innovation is evident in products like the N’Stakolle Loan and the Salary Advance Loan (digital nano-loan products). These are not only first to market but best in the market and offer unprecedented convenience and accessibility to customers.&nbsp;



One of the bank’s flagship programs, Access Closa, exemplifies its commitment to financial&nbsp;



inclusion. “Access Closa connects with individuals in remote areas, bringing banking services&nbsp;



to their doorstep through over 1,000 agents,” Aisam explains. This initiative ensures that even&nbsp;



the most underserved populations can access financial services, thereby promoting economic&nbsp;



participation and growth.&nbsp;



Access Bank Botswana is part of a larger network that spans continents, including offices in the UK, Hong Kong, and Dubai. This global presence enhances the bank’s ability to facilitate trade and support clients across multiple markets. “Our goal is to create a seamless trade ecosystem that connects Botswana with the world,” Aisam notes. “We support our clients in accessing international markets, thereby driving economic growth and development.”&nbsp;



Access Bank Botswana, under the leadership of Aisam, stands as a beacon of positive change in the realm of finance. The pledge to uphold principles of dignity, social impact, and sustainability elevates the bank as a trailblazer in the industry. By promoting women’s empowerment, driving innovative trade practices, and fostering inclusivity, the bank not only transforms the financial landscape of Botswana but also contributes to the broader economic growth of Africa.&nbsp;
</blockquote>

Sheperd Aisam, Managing Director of Access Bank Botswana

In Innovation, Social Impact, And Financial Inclusion 

Penresa had an insightful conversation with His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, President of the Republic of Botswana, discussing the nation’s unparalleled management of its diamond deposits, elevating it to an upper-middle-income status, and its commitment to sustainable energy, among other ongoing initiatives.



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“I don’t know of any country that presents the geopolitical stability that we do. Stability comes along with predictability.” H.E. Dr. Mokgweetsi Erickeabetswe Masisi, President of Botswana
</blockquote>



Your Excellency, may you kindly elaborate on your government’s policies and legislation aimed at strengthening Botswana’s economy?



The fundamental prerequisite for success is good governance, and we plan to maintain and build upon the successes of my predecessors. Our commitment is to respond to emerging dynamics,&nbsp; one of which is opening up the economy for fair competition. The role of government is succinctly defined as that of a fair, dependable, predictable, and trusted facilitator for business and investment. We focus on fair distribution of our budget for infrastructure, providing a stable and reliable healthcare system, telecommunications, clean water, waste management, and education. Our policies include promoting enhanced trade, incentivizing key sectors of the economy, and encouraging both domestic and global private sector investment, as we seek to pivot our economy to depend less on natural resources, with emphasis on knowledge and intellectual capital.



What opportunities in the country do you see for investors?



I don’t know of any country that presents the geopolitical stability that we do. Stability comes&nbsp; along with predictability. Stability is not just political. It is also economic and financial. We have a financial model and system that allows any investor, with whatever currency that is tradeable, to bring it into our economy with minimal bureaucracy. We see ourselves as a strategic conduit in the International Financial Service Centre system. Additionally, financial resources are legally



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“Botswana’s story is an amazing one with an economy on an upward trajectory of 1.9 % in the fourth quarter of 2023. Further to this, Standard &amp; Poor’s credit rating for Botswana stands at BBB+ with a stable outlook.” H.E. Dr. Mokgweetsi Erickeabetswe Masisi, President of Botswana
</blockquote>



regulated. Our tax regime of 22% for companies has the potential to be reduced to 5% or even 0% in special economic zones for five years. Look at the state of our infrastructure, security and personal safety, and the skill base of our people, which make Botswana’s business environment competitively compelling. Our warm international relations with other SADC countries and our unwavering commitment to the ideals of the African Continental Free Trade Area Agreement have great potential to expand our small market of 2.65 million people to over 389.4 million people, even up to 1.5 billion. Lastly, our infrastructure provides opportunities for massive investment. Botswana’s current budget for infrastructure totaling P21 billion (US$1.5 billion) is the largest ever since independence. This is for the 2024-2025 financial year alone.



Could you please share insights into your environmental protection initiatives aimed at mitigating the effects of climate change?



Botswana boasts a long history of environmental protection stewardship, reserving 40% of its land mass for wildlife and environmental conservation, as well as implementing appropriate policies to manage waste disposal. We invest in relevant technologies to offset the impact of



negative environmental hazards. We also adhere to regional and international protocols. We have also put together an integrated resource plan that manages and limits the development of any energy source that could result in pollution. More importantly, we have ramped up and continue to review plans to further elevate the net contribution of solar energy as a proportion of our total



energy production. Additionally, we’re investing in the knowledge and innovation space as we strive to build our capacity to produce storage for batteries for solar generation. We have the ingredients, but we are still looking for investors, innovators, and creators so that we can be a solution provider, not only to Botswana but the world. We will continue to invest in research and development to ensure we meet the targets of the Paris Agreement, which aims to limit global



warming to 1.5-2ºC compared to pre-industrial levels.



What makes the people of Botswana unique?



Botswana is a young country with a small population of about 2.6 million people, young also in that we only gained our independence in 1966. We are a youthful population, with young people



under 35 years constituting approximately 60% of our country’s population. However, as a democracy, we are the oldest and arguably the most successful democracy in Africa. Being a Motswana means that you are the embodiment of a certain compendium of values, including a commitment to peace and harmony, consultative dialogue, democracy, and looking out for others. Batswana are unique because they abhor violence, bullying, autocracy, and anything



that abuses trust. Batswana are unique because they embrace other nationalities. I am proud to be a Motswana and would not trade that for anything.



What would you like people to know about Botswana’s history?



Botswana has a rich history that is worth reading, and when you do, you will find values that any peace-loving person globally associates with. Botswana is built on principles of peace and dialogue. We are of the strong conviction that it is always better to jaw-jaw rather than war-war. You find this in our idiomatic expressions, and the narrative of our history is replete with examples of leaders who sought to venture out and speak on behalf of their people and others so that there is peaceful coexistence, social harmony, and non-discrimination. For a very long time, we stood out as an oasis of peace at a time when the Southern African region was reeling under the yoke of apartheid, where racial discrimination and subjugation were institutionalized. We have never experienced war, whether civil or external. We have no known enemies. We intend to have none. Botswana’s story is an amazing one, with a GDP on an upward trajectory of 1.9% in the fourth quarter of 2023. Further to this, Standard &amp; Poor’s credit rating for Botswana stands at BBB+ with a stable outlook. Furthermore, Moody’s credit rating for Botswana was last set at A3 with a stable outlook.



Why would you say that Botswana is the diamond of Africa?



The reason I would say, without an iota of doubt, that Botswana is the diamond of Africa is not only because we are home to the continent’s and the world’s richest diamond deposits, but because we have also managed them exceptionally well. We have not allowed diamonds



to cause us any harm as a people. Our diamonds are for development. We have institutions of governance and robust management controls that, for decades, enabled Botswana to comply with Best Principle Practices. Proceeds from our diamonds go toward national development for the benefit of our people, in terms of impact and wealth. They are mined out of a governance system and structure that is clean and organic in the same way as diamonds themselves were made over 3.3 billion years ago. That is the reason why our diamonds are valuable; they were formed before the dawn of the human race. Our diamonds do not belong to political leadership or any particular



group or tribe; they belong to every Motswana, and that is why we promulgated legislation that promotes mineral wealth for all. Diamonds belong to the state. That is to say, there are no private mines in Botswana. These diamonds are what make us what we are. I know of no country in the world that has used its resources and benefits from diamonds as prudently, as frugally, and as effectively for its people and development as Botswana. So, this title, that Botswana is the diamond of Africa, is most apt. I might even suggest that Botswana is the diamond of the world.



What is your vision for the country’s future?



Botswana is marching forward with a lot of energy and vigor. We are transitioning from a resource-based economy to a knowledge-based economy. We want to trade with our intellectual capital because we are acutely aware that our natural endowments, such as our mineral wealth,



are finite. Our mental capacity, energy, and zeal to solve global problems, combined with a well-structured and managed country that attracts the world’s best minds to generate, register, and patent their solutions in Botswana, is the way to go. I am really glad we are making headway and we continue to attract conferences, meetings, institutions, and the best minds to come and locate in Botswana and thrive. Throughout the remainder of my presidency, this is the direction I want to take my country. I trust that those succeeding me in our democratic system will sustain the trajectory of our country toward prosperity.

President of Botswana approved

Botswana’s Extraordinary Journey to Prosperity

Cornerstone Developments is transforming Ghana’s real estate with energy-efficient, high-end residential properties.



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“Ghana is a very safe place to be, and investing in Cornerstone  Developments is a great investment for anyone looking to bring their money into a thriving, emerging market.” Joe Leslie Obeng-John, CEO and Managing Director of Cornerstone Developments
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In the landscape of Ghana’s real estate sector, Cornerstone Developments Limited has emerged as a premier player, delivering high-quality, luxury properties that set new standards in



the industry. The company, led by CEO and Managing Director Joe Leslie Obeng-John, has built



a strong reputation for excellence over the past decade, with projects that not only elevate the local market but also attract significant interest from international investors.



Obeng-John’s entry into the real estate industry was motivated by a desire to close the gap in luxury lodgings in Ghana. After going to Ghana in 2000, he observed a shortage of high-end residential options. “When I came out looking for somewhere to stay other than a hotel, the offerings at the time were quite limited,” he says. This understanding, along with his expertise in property development in London, prompted him to form Cornerstone Development.



Cornerstone’s portfolio includes a range of notable projects that have made a significant impact on Ghana’s real estate market. The company’s first major project, East Legon townhouses, marked the beginning of its commercial real estate journey in 2013. Since then, Cornerstone has developed over 10 projects, including Noble Square, Nyla Court, Nissi Place, Altitude Residence, and Aura Cantonments. These developments have added over 500 units to the market, primarily focusing on residential properties ranging from multi-unit complexes to individual luxury homes.



One of the company’s main projects, Ava Residence, is now being built in Accra’s airport residential neighborhood. With almost 12 stories, Ava is poised to revolutionize luxury living in Ghana. Although the project is still ongoing, 80% of apartments have been sold out, demonstrating the company’s repute.



Cornerstone Development’s dedication to excellence has not gone unnoticed. The firm has won several honors, including the renowned Ghana Industry CEO honors and the African Arabian Property Awards. Obeng-John owes the company’s success to its meticulous attention to detail, both during and after construction. “For us, it’s not just about creating projects, it’s about what we do after they’re completed. We manage all of our projects and find long-term tenants for our investors, which distinguishes us from other developers,” he says.



In addition to luxury, Cornerstone Developments is committed to sustainability. Obeng-John is deeply involved in every aspect of the company’s projects, from selecting energy-efficient materials to implementing green technologies like solar water heaters and water recycling systems. “For us, it’s very important to try and build efficient homes. We always use low energy- consuming lights and appliances to ensure we’re delivering a better performing product in the space,” he says.



Ghana’s real estate sector is thriving, and Cornerstone  Developments is at the forefront of that expansion. With an emphasis on quality, luxury, and sustainability, the firm is not only changing the face of Ghanaian real estate, but also setting new standards for the sector. Obeng-John says, “Ghana is a very safe place to be, and investing in Cornerstone Developments is a great investment for anyone looking to bring their money into a thriving, emerging market.”



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Joe Leslie Obeng-John, CEO and Managing Director of Cornerstone Developments Limited

Redefining Luxury Living in Ghana’s Thriving Real Estate Sector

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<h2 class="wp-block-heading" id="h-our-commitment-is-to-respond-to-emerging-dynamics-one-of-which-is-opening-up-the-economy-for-fair-competition-h-e-dr-mokgweetsi-eric-keabetswe-president-of-botswana">“Our commitment is to respond to emerging dynamics, one of which is opening up the economy for fair competition.” H.E. DR. Mokgweetsi Eric Keabetswe, President of Botswana</h2>



The 1960s marked a turning point in Botswana’s history as the country discovered diamonds that would make it one of Africa’s wealthiest in the course of a few years. Over the past six decades, the southern African country produced some of the ten largest diamonds in the world, the latest of which was a massive 2,492-carat diamond &#8211; the second-largest diamond in the world. But Botswana knows ‘diamonds are not forever’ and is pivoting away from relying on the mining industry to a knowledge-based economy, valuing human creativity and innovation. The shift is expected to expand the nation’s GDP from 4.7% to 5.3% by 2036, backed by an Indigenous Knowledge System policy and strategy that the country is currently



developing. President Mokgweetsi Masisi’s government has set its sights on education and skill development, implementing initiatives to improve funding and equip its workforce with relevant skills. “In the past five years, we’ve made significant investments in our education sector. We’re also introducing progressive legislation that will create a conducive environment for Botswana to support and facilitate innovation and embrace technology,” says Diane Mongudi, Acting CEO of the Botswana Digital and Innovation Hub.



According to the 2022 Global Innovation Index, Botswana has climbed the ranks to become the fifth most innovative country on the African continent. The country aspires to become an innovation hub in the region, supporting ICT companies, entrepreneurship, and digitalization, undertaking a significant initiative towards digital governance. In a commitment to enhance citizen access to services, the government has allocated over US$11.8 million to facilitate the online migration of 400 government services. To date, over 170 services have been successfully transitioned to online platforms. “Investing in Botswana offers a wealth of incentives. Lower taxes make it an attractive option, and you can freely repatriate your profits. We also boast an innovation hub with tax holidays ranging from five to ten years, depending on your chosen sector. Doing business in Botswana is now remarkably easy. Company registration takes just two days with a streamlined process. We’re a peaceful country with a strong record of good governance. This stability is especially evident this year, even with national elections approaching in October,” says Serty Leburu, Executive Director of the Botswana Accountancy College.



Botswana envisions an economic leap through the implementation of its Vision 2036 agenda, aspiring to join the ranks of high-income countries in the next 12 years. This transformation plan fuels investment in growth sectors like tourism, agriculture, and technology. Further solidifying this vision, the nation announced a massive 33% increase in infrastructure spending for 2024/25, focusing on water, transport, and energy.



<a href="https://cms.forbesafrica.com/wp-content/uploads/2024/10/PENRESA_FORBES-2024-BOTSWANA_32pags-v_16-1.pdf" target="_blank" rel="noreferrer noopener">Download full report here</a>
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In a strategic move to increase domestic production and self-sufficiency, the Botswana government implemented import restrictions on fresh produce in December 2021.



Recently extended to 2025, this policy aims to nudge the population towards entrepreneurship, particularly in agriculture. The government is further supporting this shift



by providing assistance to smallholder farmers. By fostering local production, the country aspires to meet its own food needs and potentially become a future exporter of agricultural goods. This ambition aligns with the country’s pride in being land-linked, not landlocked. Botswana strategically leverages its geographic position to not only benefit its own economy but also contribute to regional development. “Given the recent launch of the African Continental Free Trade Area, we can now envision Africa as a unified trade zone.



This represents a massive market with a combined GDP of US$3.4 trillion, which Botswana is strategically positioned to tap into,” says Andrew Madeswi, CEO of the Botswana Vaccine Institute.



Botswana has a well-deserved reputation as one of Africa’s least corrupt nations. President Masisi has made tackling corruption a cornerstone of his administration. He has implemented a multi-pronged approach, focusing on transparency, accountability, and strengthening the rule of law. This includes promoting ethical leadership and bolstering anti-corruption institutions to create a more robust system for combating graft. Masisi has also shown commitment to environmental conservation and sustainable development. He has supported initiatives to protect Botswana’s natural resources, preserve biodiversity, and mitigate the impact of climate change.
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Category: Africa Undiscovered