Dubai’s Foreign Direct Investments in Kenya Surge to $253 Million in Five Years
Kenya has seen a substantial increase in foreign direct investments (FDIs) from Dubai, with the total reaching $253 million (Sh38.3…
Category: Africa
African Development Bank President Highlights Africa’s Pivotal Role in the Future of the Electric Vehicle Market
Akinwumi Adesina, President of the African Development Bank (AfDB) Group, emphasized the critical role Africa plays in shaping the future…
Nigeria Faces Quality Seed Shortage, Hindering Agricultural Productivity
Despite having 314 registered seed companies, Nigeria, Africa’s most populous country, is grappling with a shortage of quality seeds crucial…
Africa’s Role in the $57 Trillion Electric Vehicle Market: Opportunities and Potential
Akinwumi Adesina, President of the African Development Bank Group, emphasized Africa’s pivotal position in the burgeoning electric vehicle (EV) market…
Emerging Africa Infrastructure Fund Commits $48 Million for West Africa’s First Social Asset-Backed Security
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has pledged XOF 30 billion (approx. $48…
AFC Successfully Exits Investment in Ghana’s Takoradi Port Expansion Project
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has successfully exited its 35% equity investment in Atlantic…
Norrsken22 Closes $205 Million Fund to Propel African Tech Startups
Norrsken22, a Pan-African venture capital firm, has successfully closed its debut fund at an impressive $205 million, surpassing its initial…
Sanlam Private Equity Sells Majority Stake in Absolute Pets to Woolworths
Sanlam Private Equity, the private equity division of Sanlam Investments, has announced the successful sale of its majority stake in…
British International Investment Commits $26.5 Million to Enhance Food Security in Africa
British International Investment (BII), the UK’s development finance institution, has pledged a substantial investment of $26.5 million to AFEX, Africa’s…
Standard Bank Group Launches Energy Transition Fund to Drive Sustainable Growth in Africa
Standard Bank Group (SBK), in collaboration with Liberty, has initiated an Energy Transition Fund with an initial seeding of R3…
AAIC Investment Raises $40 Million for Africa Innovation & Healthcare Fund II
AAIC Investment has announced the successful second close of the Africa Innovation & Healthcare Fund (AHF) II, securing an additional…
Sluggish Growth in Diaspora Inflows Adds Pressure to Kenya’s Forex Reserves
Diaspora inflows into Kenya have experienced their slowest growth rate in the past 13 years, increasing by just four percent…
UK and Global Partners Commit $100 Million for AI-Driven Development in Africa
The United Kingdom, in collaboration with esteemed global partners, is spearheading an initiative to accelerate development in some of the…
Kenya Addresses Disruption Risk in Gulf Fuel Deal Over Letter of Credit Confirmation
Kenya is reassessing the process for banks to confirm letters of credit linked to the government’s fuel agreement with Gulf…
U.S. Pledges to Elevate Kenya’s Investment Climate as Model for Africa
The Biden administration has committed to enhancing Kenya’s investment environment, aiming to set a standard for other African nations through…
Urgent Attention Needed: The Escalating Shilling-Dollar Exchange Crisis
The official exchange rate of the shilling against the dollar has surged past the 150-unit threshold, signaling a concerning period…
African Development Bank (AfDB) Elevates Role in Kenya’s Development with Over $3.95 Billion in Loans
Over the last five years, the African Development Bank (AfDB) has significantly amplified its financial contributions to Kenya, with loans…
Urgent Appeal for Support: Addressing the Crisis Caused by Akosombo Dam Spillage
The recent spillage of the Akosombo Dam has led to widespread devastation in parts of the Volta Region, leaving thousands…
EU Commits €212.5 Million to Support Key Areas in Africa
The European Commissioner for International Partnerships, Jutta Urpilainen, in collaboration with President Touray, has finalized the signing of seven financing…
P1 Ventures Closes First Round of $50M Fund to Support African Software Startups
P1 Ventures, a pan-African seed venture capital fund, has successfully concluded the initial round of fundraising for its new $50…
FEDA Invests in Cabinda Oil Refinery to Foster Angola’s Energy Transition
The Fund for Export Development in Africa (FEDA), an impact investment subsidiary of Afreximbank, has announced an investment in the…
Apex Group Expands South African Presence with BCI and BIP Acquisitions
Global financial services provider, Apex Group, has successfully acquired Boutique Collective Investments (BCI) and Boutique Investment Partners (BIP) in South…
EU Commits 150 Billion Euros to Infrastructure Projects in Nigeria
The European Union (EU) has unveiled its Global Gateway Initiative, pledging to disburse 150 billion Euros by 2027 to Nigeria…
Afreximbank and ECIC Launch $1 Billion Program to Boost South Africa-Africa Trade
The African Export-Import Bank (Afreximbank) and the Export Credit Insurance Corporation of South Africa (ECIC) have signed a memorandum of…
Africa50 Launches $500 Million Infrastructure Acceleration Fund (IAF)
Africa50, a pan-African infrastructure investment platform, has introduced the Africa50 Infrastructure Acceleration Fund (IAF), a 12-year closed-ended private equity fund…
African Financial Markets Show Resilience Amid Global Challenges
The Absa Africa Financial Markets Index 2023 reports continued progress in developing financial markets across Africa, with a notable improvement…
Setbacks in African Tech Startups Impact Investor Confidence
The closure of several once-promising startups in the African tech ecosystem, including fintechs Payday and Dash, and genomics company 54gene,…
Manufacturing Sector in Kenya Faces Challenges with Over 30 Plant Shutdowns
More than 30 manufacturing companies in Kenya have shut down production plants within a decade, indicating the impact of an…
Gaia Impact Achieves First Closing of €40 Million for Gaia Energy Impact Fund II
Gaia Impact, in partnership with Capital Croissance, Schneider Electric, Capelan, and Investisseurs & Partenaires (I&P), has reached the first closing…
Lillian Kidane Appointed as Regional Director for Africa at Dalberg Advisors
Global impact consultancy, Dalberg Advisors, has named Lillian Kidane as the new Regional Director for its Africa region. Lillian, who…