News
Universal Postal Union Urges African Post Offices to go Digital
The Universal Postal Union (UPU) has urged Africa’s postal system to tap into e-commerce and leverage related revenue streams.
The UPU said it will work with 21,000 African post offices and 138,000 postal agents via the Ecom@Africa initiative.
The initiative will facilitate the introduction of integrated cross-border e-commerce ecosystems provided by postal operators via physical e-commerce fulfilment centres or ‘hubs’, interfaced with online e-commerce platforms.
UPU is currently evaluating postal exchanges and identifying countries that it feels have “conducive regulatory conditions and investment climates” and assist with funds sourced from its Quality of Service (QoS) fund established in 2001.
To date Tunisia, Côte D’Ivoire and Ethiopia have agreed to establish fulfilment centres.
Leolinda Dieme, Africa Regional Expert for the UPU’s Development Cooperation Directorate, said, “The post has the comparative advantage of its global network. Post (offices) have an extended physical network infrastructure covering both rural and urban areas and therefore have the opportunity to reach and connect more people than other delivery agents.”
Fredrick Omamo, Expert for E-Commerce Operational Integration at UPU added, “Since the untapped e-commerce potential in Africa is so huge, postal supply chain stakeholders in Africa have to integrate e-commerce into their operations right now or they might miss the train. As ever more business traffic is generated through online transactions, the window of opportunity is fast closing for many African Posts if they do not embrace e-commerce.”
The UPU said that African countries need to prioritise postal development in their national budgets, modernise their postal infrastructure and help ease cross-border trade.
According to United Nations Conference on Trade and Development (UNCTAD) only 21 million Africans participated in e-commerce activity in 2017.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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