The 6th annual Africa Business Forum, which has been held annually since 2018, was successfully held under the theme “Making carbon markets work for Africa”.
The forum was held on Monday, 20 February 2023, at the Sheraton Hotel in Addis Ababa, on the margins of the thirty-sixth ordinary session of the Assembly of Heads of State and Government of the African Union.
The Forum jointly convened by the United Nations Economic Commission(UNECA) for Africa and the African Export-Import Bank, with the support of the African Union Commission aimed to drive sustainable energy and bring together governments, private investors and civil society entities to facilitate investment in bankable projects that deliver meaningful climate action in Africa.
The Forum further aimed to build on the positive momentum generated at the twenty-seventh session of the Conference of Parties to the United Nations Framework Convention on Climate Change, held in Sharm El-Sheikh, Egypt in November 2022, which focused on the use of carbon credit markets as a means of accelerating climate action, and on generating investment to bring about economic transformation in African countries.
“The 2030 Agenda for Sustainable Development is the continent of Africa’s top priority, and the Africa Business Forum seeks to accelerate efforts made by both the public and commercial sectors to realize it,” a written document on this year’s forum read.
“At COP27, delegations underlined the opportunity for Africa to potentially make use of carbon markets to do two things simultaneously – first, to incentivize green investment pathways and second, to tackle chronic under-investment in critical priorities in Africa – from energy to food production,” stressed Antonio Pedro, Acting executive secretary of UNECA.
“Carbon markets present a great opportunity for African countries to utilize their abundant natural resources to unlock economic value and accelerate sustainable industrialization and economic transformation and diversification,” stated the Executive Secretary, adding, “The Africa Business Forum is an important platform for Africa to collaborate and trigger action on tapping the opportunities in carbon trading but with the assurance that Africa gets the right price for trading its carbon on the global credit markets.”
Africa has vast amounts of carbon stored in its ecosystems with the Congo forests – dubbed the world’s second lung – being able to absorb about 1.2 billion tons of CO2 each year. The Congo Basin holds roughly 8% of the world’s forest-based carbon.
At COP27, African countries launched the Africa Carbon Markets Initiative to produce 300 million carbon credits annually. The initiative seeks to unlock $6 billion in revenue and create 30 million jobs by 2030.

The Ethiopian Ministry of Health expresses its strong commitment to strengthening immunization coverage as Africa’s Heads of State agree on crucial measures to revamp routine immunization across the continent after significant disruptions by the COVID-19 pandemic in childhood vaccination programs and increase in outbreaks of vaccine-preventable diseases.
The leaders of the African Union (AU) endorsed a declaration on “Building momentum for routine immunization recovery in Africa” at a high-level event that took place in Addis Ababa, in conjunction with the 36th Ordinary Session of the AU Heads of State and Government. The declaration aims to revitalize the momentum for all populations to have universal access to immunization to reduce mortality, morbidity, and disability, and subsequently help Member States to achieve their health.

“The plateauing of immunization coverage began before the pandemic and was made worse by the pandemic and other emergencies, which led to a drop in immunization coverage,” Dr. LiaTadesse, Minister of Health, expressed at the high level meeting.
According to projections by UNICEF and the World Health Organization (WHO), 8.4 million children in Africa as a whole, as opposed to 18 million worldwide, missed out on immunization programs in 2021. The narrative becomes even more challenging for communities that are poor, marginalized, or who have been made susceptible by conflicts or live in unstable environments to access immunization services.
“Vaccine manufacturing is a medium and long term solution to our continent and we need to enhance our capacity in that regard,” said the Ethiopian Health Minister, adding, “The government is working hard to start local production of vaccines and we are doing market, financial, and product feasibility studies with the support of the World Bank and local stakeholders. Moving forward, high political commitment and synergetic partnerships are integral to the success of our work. We will also use local evidence to identify missed children, because quality control is such a big issue with vaccinations. Furthermore, we have started to create centers of excellence across the country.”

“We believe that it is possible to achieve the national and global immunization targets including eradication and elimination goals. Progress in meeting immunization targets, we believe, is a driver for equitable health outcomes for children, mothers and the population as a whole,” said Dr. Julius Maada Bio, President of Sierra Leone, adding, “We believe as a government that the returns on investment for immunization are very high for our progress towards meeting the SDGs.”
The declaration, at the event convened by the African Union Commission for Health, Humanitarian Affairs and Social Development, the Government of Sierra Leone and WHO, also called for urgent measures to, “address persistent bottlenecks in vaccine and healthcare delivery systems, especially in the poorest, vulnerable and most marginalized communities.”
Across the continent, immunization coverage for many vaccine-preventable diseases is well below the 90‒95% range needed to keep Africa free of these diseases. For instance, in 2021, the median vaccination coverage for measles was 69%; while for diphtheria-tetanus-pertussis coverage was 82.5%; and 81.5% for the third dose of the polio vaccine.
“Recalling the Addis Ababa Declaration on Immunization endorsed by Heads of State at the 28th African Union Summit, Africa’s leaders hold a mandate to secure sustainable financing toward increasing access to immunization, and work with communities to strengthen immunization systems across the continent. We can end vaccine-preventable diseases and save many more lives. This is core to achieving healthy, prosperous communities as premised in the AU Agenda 2063: The Africa We Want,” underlined Ambassador Minata Samate Cessouma, AU Commissioner for Health, Humanitarian Affairs and Social ‎Development.

“Immunization saves lives and is one of the best health investments that money can buy,” said Dr. Matshidiso Moeti, WHO Regional Director for Africa, adding, “The COVID-19 pandemic has had a devastating impact on immunization efforts in Africa and has made it critical for us to catch up, recover and get back to normal.”
In Africa vaccine-preventable diseases are responsible for 93% of ongoing infectious disease outbreaks. Currently, vaccine-preventable disease outbreaks are ongoing in 31 African countries, with 17 having more than one vaccine-preventable disease outbreak. Without renewed political will and immediate, intensified efforts, it is estimated that immunization coverage will not return to 2019 levels until 2027.
The “Building momentum for routine immunization recovery in Africa” declaration also aims to reignite the continent’s commitment to meet the goals of the Immunization Agenda 2030, a new global strategy to address the challenges of immunization and save more than 50 million lives worldwide.
The declaration called on African regional economic communities, health organization and the African Development Bank to support the initiative. It also urged vaccine manufacturers to improve access to doses and UNICEF and WHO to support countries to monitor progress towards the immunization goals.

Founders of the pioneer cab ride-hailing service provider in Ethiopia, ZayRide, take ownership of Abyssinia Cement, a cement miller, located at the northern outskirts of the capital.
Habtamu Tadesse, CEO of ZayRide revealed that his company is diversifying its business ventures in different sector such as manufacturing, agriculture and service sectors including the digital financial sector.
To add to the growing portfolio, the company disclosed that it has accomplished the ownership of Abyssinia Cement located at Chancho, about 45km north of Addis Ababa in Oromia region.
The CEO said that the cement industry was one of the in high-demand lucrative businesses in the country hence the company leaned easily to invest on the industry.
The acquired factory was established almost 15 years back, with the miller having suspended its operation about two years ago. The factory at the current stage mills 500 tons per day, while at its full capacity it has the luxury of producing 1,500 tons per day.
The transaction consumed about 600 million birr, while additional costs to revamp and commence operations may be incurred.
“At the inception, it may need an additional 150 million birr in running cost,” the CEO said.
The factory is located in an area that has enormous limestone resources, which is a major input for cement production. “The youth in the area will supply the limestone,” he explained.
“To start the production phase may take up to two months. So far we are on the maintenance stage and we are drawing linkages with the market and agents,” he added.
“In all the businesses that we have ventured in, we are working aggressively to offer premium services. We may also be the only company that started export within a four month timeframe after embarking in agricultural investment that we have at Gambella region,” Habtamu said signaling that the same pace will be transmitted to the new venture of the cement factory which will start production sooner rather than later.
Most of the big cement factories in the country are located around the area now invested by the ZayRide founders.
On its farm in Gambella, the company produces and exports sesame and green mung bean.
Founders of the first meter taxi in Ethiopia also formed Arifpay Financial Technologies, a financial institution licensed by the National Bank of Ethiopia which provides digital payment solutions, through ArifPOS and ArifGateway.
Arifpay is one of the pioneers on Point of Sale (POS) and Payment System Operator (PSO) with payment solutions for smartphones, POS and QR payment terminals. It has also secured a license to provide payment gateway solutions including utility bills, airtime top up eCommerce, school fee processing and others.
Habtamu claims that his meter taxi is not only a pioneer on the technology based taxi hailing service in the country but ZayRide is also providing the service at comparably competitive rates.
Currently, the founders of ZayRide are involved in the hospitality industry, farming through ventures in sesame and green mung bean, and are also producers of Nigus Honey, and supplier of military logistics. The company also develops and exports software and applications
“We are constructing an electric car assembly at Debre Birhan, 130km north east of Addis Ababa,” said Habtamu showing the breadth of their work portfolio.

Aimed to boost polyethylene terephthalate plastic (PET) bottle collection rates, Coca Cola Beverages Africa (CCBA) launches a pilot project to subsidize plastic beverage bottle collectors in Addis Ababa.
According to the company, the pilot project will run for one year with a two phase implementation period, supporting 30 collectors in the process with a total subsidy of up to 10

million birr.
As indicated, the subsidy will be given to the collectors based on their monthly performance at rates of 1,000 birr per 1000 kg PET. To solidify the partnership, the company signed an agreement with the 30 collectors on Thursday February 23, 2022.
“We are committed to invest in our planet and help making

the worlds packaging problem a thing of past together with coca cola company we have global initiative called world without waste” said Daryl Wilsom, Coca cola beverages Africa in Ethiopia managing director.