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…
Category: Africa
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…
Sanari Capital Raises R1.25 Billion for Sanari 3S Growth Fund, Edging Closer to $100 Million Goal
Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has successfully raised R1.25 billion (approximately…
Top 10 African Countries with the Largest Gold Reserves in 2023
Africa boasts some of the world’s largest gold reserves, presenting a substantial source of wealth and economic potential for the…
Africa’s MSMEs Must Embrace Digital Transformation for Sustainable Growth
Professor Olajumoke Familoni, an expert in management and entrepreneurship, emphasized the need for African nations, particularly Nigeria, to proactively embrace…
Bank of Ghana Set to Conclude Interest Rate Hikes Amid Falling Inflation
The Bank of Ghana is expected to conclude its series of interest rate hikes as Ghana’s headline inflation rate declined…
Mali’s Elections Postponed Due to Technical Challenges and Dispute with IDEMIA
Mali’s military junta has decided to postpone the scheduled February elections, citing technical difficulties and a dispute with the international…
EBRD Commits Up to €30 Million in Mediterrania Capital Partners’ MC IV Fund to Support Mid-Cap Companies in Africa
The European Bank for Reconstruction and Development (EBRD) is set to invest up to €30 million in Mediterrania Capital Partners’…
Valu Closes EGP 922.3 Million Securitized Bond Issuance in Partnership with EFG Hermes
Valu, a prominent financial technology company in the MENA region, has successfully completed its sixth securitized bond issuance in collaboration…
Kasada Strengthens South African Hospitality Portfolio with Acquisition of Former Radisson Blu Hotel & Residence
Kasada, a real estate private equity platform focused on Africa’s hospitality sector, has purchased the former Radisson Blu Hotel &…
Vumela Enterprise Development Fund Invests R18 Million in South African Subscription Model Startup Rentoza
Rentoza, South Africa’s first pure-play subscription model for digital goods and appliances, has secured an investment of R18 million from…
Metier Capital Growth Fund III Raises Over $182 Million in First Close
Metier has successfully completed the first close of its Metier Capital Growth Fund III, securing just over $182 million in…
Equity Bank Partners with Mastercard for Cross-Border Payment Solutions
Equity Bank has entered into a Customer Business Agreement with Mastercard to offer a range of payment solutions, including cross-border…
East African Breweries (EABL) Sees Employee Count Drop Below 1,500
East African Breweries Plc (EABL) has reported a reduction in its headcount by 168 in the fiscal year ending June,…
Rubis Energy Converts €30 Million in Pending Fuel Subsidy Dues into Government Bonds
Rubis Energy Kenya, an oil marketer, converted €30 million (Sh4.7 billion) worth of pending fuel subsidy dues into government bonds…
Return on Fixed Deposits Outpace Inflation in July for the First Time in 15 Months
In July, the return on fixed deposits in Kenya surpassed inflation rates for the first time in 15 months. Banks…
Kenyan Treasury Relies on Short-Term Bond Reopenings to Raise Ksh 222 Billion
The National Treasury in Kenya has utilized multiple reopenings of short-term bonds to secure Ksh 222 billion since May. By…
Gabon’s New Prime Minister Pledges Free Elections within Two Years
Raymond Ndong Sima, Gabon’s recently appointed Prime Minister, has announced the military government’s commitment to organizing free elections within the…
Alex Okosi Appointed as Managing Director for Google in Africa
Google has named Alex Okosi as the Managing Director for its operations in Africa. Prior to this, Okosi held the…
Bank-Owned Brokers Outperform Standalone Counterparts in Profits
Bank-owned stockbrokers and investment banks, supported by alternative revenue streams, have outperformed standalone rivals in terms of profits. SBG Securities,…
KCB Group to Infuse $100 Million into KCB Bank Kenya for Recapitalization
KCB Group, a major financial institution, is planning to inject $100 million (approximately Sh14.5 billion) into KCB Bank Kenya. This…
G20 to Grant Permanent Membership to African Union
The G20, a grouping of major world economies, has reportedly agreed to grant permanent membership to the African Union, according…
African Development Bank Commits $25 Billion to Climate Finance by 2050
The President of the African Development Bank, Akinwunmi Adesina, has announced that the institution is committing to provide $25 billion…
UAE Announces $4.5 Billion Initiative to Boost Africa’s Clean Energy Potential
The COP28 President-Designate, Dr. Sultan Al Jaber, has unveiled a new initiative from the United Arab Emirates (UAE) that will…
South African E-commerce Subscription Platform Rentoza Secures $6 Million Investment
Rentoza, a South African online subscription platform, has successfully secured $6 million in funding from two prominent investors, leading a…
Ghana: Leveraging Microfinance for Inclusive Finance
The Executive Secretary of the Ghana Microfinance Institutions Network (GHAMFIN), Yaw Gyamfi, has urged Non-Bank Financial Institutions (NBFIs) to harness…
Standard Chartered Bank Kenya Waives Upfront Fees for Online Money Market Fund
Standard Chartered Bank Kenya has announced the removal of the one percent upfront fee charge on its online money market…
Kenya Strengthens Climate Change Legislation to Regulate Carbon Markets
Kenyan President William Ruto recently signed the Climate Change (Amendment) Bill 2023 into law, marking a significant step towards the…
Kenya’s KRA Loses $1.38 Billion Tax Case Against Bidco Oil Refineries
Kenya Revenue Authority (KRA) has faced defeat in a prolonged tax dispute with Bidco Oil Refineries, amounting to $1.38 billion.…
African Union Suspends Gabon’s Membership Following Coup
The African Union (AU) has suspended Gabon’s membership after military officers ousted President Ali Bongo. This move marks the first…