Category: Africa
Mark Zuckerberg Lost $29 Billion After Facebook Users Reduce For The First Time
Mark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc’s stock marked a record one-day plunge,…
Meta Loses Over $200 Billion In Value
Facebook sees first-ever drop in daily active users as owner Meta takes $200bn share hit Facebook’s parent firm Meta on…
Tony Elumelu- A Well-Regulated Capital Market’ll Generate Wealth For Africa
The Chairman of United Bank for Africa Plc, Mr Tony Elumelu, has said a well-regulated capital market will help to…
Nigerians Access To African Insurance Market Shrinks By Two Per Cent In 2020
There are indications in the African insurance market that the access rate has dropped from 2.78 per cent in 2019…
AFEX seeks to raise $175m to finance agro-processors in Africa
AFEX one of Nigeria’s commodity players seeks to raise $175 million in its bid to provide low-cost financing to agro-processors…
Nigeria App For US Stocks, Bamboo Raises $15million Series A funding
Bamboo, a Nigerian brokerage app that lets Africans buy and trade US stocks in real-time has secured a $15 million Series…
Knife Capital Backs HR Software startup’s latest round
Wamly a one-way video interview software startup based in South Africa secures funding from local venture capital firm Knife Capital…
TIDE Africa II raises almost half its final goal with first close
Africa-focused venture capital firm TLcom Capital, known to have made bets on Andela and Twiga, is raising $150 million for…
Eiffel Partners With Finergreen For African Renewable Energy Deals
A new initiative will soon be launched in Africa to increase financing for renewable energy. It is a mechanism that…
Goodwell Leads Returning And New Investors For Copia’s Series C
Goodwell Investments has led a $50m Series C equity round in Copia Global, a B2C e-commerce platform with a distribution…
Ghana Secured $7.33 Billion From Oil Production Since 2011
Ghana secured $7.33 billion dollars in revenue since it started commercial oil production in 2011. From the earnings, $6.02 billion…
Airtel Africa Top Nigeria Stock Exchange Capitalised Company
Airtel Africa, a multinational telecommunications company, has surpassed Dangote Cement to become the most capitalised company listed on the Nigerian…
BUA Chairman, Abdul Samad Rabiu Now Africa’s Fifth Richest Man, Second In Nigeria With Latest Forbes Report
Forbes has listed BUA chairman Abdul Samad Rabiu as the fifth African richest man and second richest man in Nigeria.…
African Airlines’ Passenger Traffic Has Fallen By 65% Due To Omicron- IATA
The International Air Transport Association says African airlines’ passenger traffic has fallen by 65% due to the increasing impact of…
Ethos And BluePeak Co-invest In Grit Real Estate Group
Ethos Mezzanine Partners and BluePeak Private Capital Fund have co-invested $31.5m in Grit Real Estate Income Group (Grit), a Pan–African…
Boulben Withdraws From Race To Head French Telecom Firm
Verizon Chief Revenue Officer Frank Boulben has written to the board of Orange withdrawing from the race to head the…
Poa Internet wraps up Africa50-led equity financing round
In 2020, Africa50, an infrastructure financier backed by the Africa Development Bank (AfDB) Group and a good number of African…
Adiwale takes minority stake in West Africa drilling services company
Adiwale Partners, a private equity firm focused on Francophone West Africa, picked up a minority stake in Maintenance Climatisation Technique…
QED Investors Hires Two Investment Professionals To Boost Africa Plans
QED an investment firm based in Alexandra, Virginia in the United States of America announced that it has recruited two…
FG urges private sector to maximise AfCFTA
The Federal Government has called on the Nigerian private sector to maximize the African Continental Free Trade Agreement. The Minister…
IMF set to launch $50bn lifeline for Nigeria, others
The International Monetary Fund is set to launch a $50bn trust fund for low-income and vulnerable middle-income countries. The initiative…
Nigeria To Partner Egypt On Technical Support For Power Transmission
The Federal Government has announced plans to partner Egypt in the areas of technical support in the transmission and distribution…
Dangote Oil Refinery To Reduce Importation Of Petroleum Products By 36 Per cent
The African Petroleum Producers Organisation (APPO) has said that Dangote Oil Refinery would reduce importation of petroleum products production into…
Oracle Opens Data Centre In South Africa
Oracle, a cloud infrastructure firm, says it has opened a data centre in South Africa — its first cloud region…
Nigerian Food-Tech Startup “Orda”Raises $1m In Pre Seed Round
Orda, a Nigerian food-tech startup, says it has raised a pre-seed round capital of $1.1 million to expand its operations…
Twitter Expand Test Feature For Flagging Misleading Content To Brazil, Spain And Philippines
Twitter Inc said on Monday it will expand its test feature which allows users to flag misleading content on its…
Verdant holds first close for hybrid capital Fund
Hybrid Fund initially has $36 million of committed capital Support for micro, small and medium-sized enterprises through investment in financial…
Twitter Spaces To Allow Users Record Sessions
Twitter Spaces, a feature that allows users to host or take part in live audio conversations on the platform, will…