Samsung Acquires 20% stake in Meridiam.
Samsung Life Insurance purchased a 20% share in Meridiam, according to an announcement made on April 24 by Meridiam. Meridiam will be able to accelerate its next phase of growth…
Prosper Africa Supports Co-investments in Kenya’s Apparel Industry.
Leading companies and investors were gathered in New York City by the U.S. Government’s Prosper Africa project and Embassy in Kenya, along with a delegation of Kenyan government officials, to…
XRP and Bunratty Plan Roll Up Strategy for Africa’s Healthcare Market.
By pursuing mergers and acquisitions of small and medium-sized private healthcare enterprises that are in line with its strategic vision in Uganda, East Africa, which is its first point of…
Vantage Sells Majority Stake in Dynamic Bedding.
The largest mezzanine loan fund manager in Africa, Vantage Capital, has completely sold its interest in Dynamic Bedding, a well-known South African producer and supplier of specialty beds. Senior management…
Rohatyn Group makes Investment in Printing and Packaging Firm.
The Rohatyn Group (“TRG”), a specialized global asset management company with a focus on real assets and investment solutions in emerging economies, announced an investment in the East African company…
TPG-backed Healthcare Group Secures Financing from IFC.
On April 25, 2023, in Nairobi, Kenya—IFC announced an investment in Kenyan healthcare provider Avenue Group Limited. The funding will assist the business’s five-year plan to expand its patient base…
Amethis Holds First Close for Africa Europe Expansion Fund.
Amethis – a partner member of Edmond de Rothschild Private Equity – is a leading player in private equity dedicated to growth SMEs and ISEs in Africa and Europe with…
Convergence Adds Specialist FinTech Group to Latest Fund’s Portfolio.
42Markets, a financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners to accelerate the growth and development of its portfolio companies. 42Markets…
Sanwo-Olu Unveils Lagos’ First Set of Electric Buses.
Governor Sanwo-olu has announced the delivery of the first electric buses for Lagos State’s mass transit system. The governor said the new electric buses will reduce carbon emissions and also…
FG Eliminates the 5% Telecom Tax Exemption.
According to reports, the federal government will move forward with the introduction of a 5% excise tax on mobile phone services, landlines and Internet services. This is despite recent statements…
NIN Enrollment Fell 41% in April, According to a Report.
Enrollment in the National Identification Number program fell from 8 million in the first four months of 2022 to 4.67 million in the first four months of 2023, a reduction…
Group Requests that the N200 billion CBN Housing Intervention Fund be Released.
The Housing Development Advocacy Network has called on the federal government to pay N200 billion in interventions for low-cost housing approved by the Central Bank of Nigeria. This he has…
Customs officers Lose N2 billion in Protest of a 100% Tariff Increase.
Customs officers at the Murtala Muhammed International Airport (MMIA) have described how their protest against the rise in ground handling fees cost them almost N2 billion. According to the vice…
Senate Demands N3.2bn Tractor Loan Repayment.
The Senate has indicted Kaduna’s Agricultural Bank over N3.2 billion loans made to 10 vendors to purchase tractors and other equipment for allocation to end-users. The indictment was a follow-up…
CBN: Bank Deposits Fell N210bn in Q1.
Total demand deposits fell by N210 billion between January and March 2023, as Nigerians made huge withdrawals from depository banks. Demand deposits fell from N20.12 trillion to N19.91 trillion in…
Banks Receive more New Notes from CBN.
Nigeria’s central bank said it was supplying banks with more new notes amid growing concerns that redesigned banknotes were disappearing. The bank is expected to pay customers the new currency…