AfricInvest Raises $411 Million for Investments in Africa
Private equity firmm AfricInvest has raised $411 million in a new fund for investments in mid-sized companies in African countries including Kenya. Investors who took part in the funding include [...]
Egypt Receives $3 Billion in Financing to Cope With Wheat Shortages
Egypt has received a $3 billion increase in funding from the International Islamic Trade Finance Corp. to deal with soaring wheat prices caused by Russia’s invasion of Ukraine, according to an Egyptian [...]
South Africa Faces Fuel Price Surge as Subsidy comes to an End
South Africans face record-high gasoline prices in June as a subsidy to help motorists counter the impact of high crude costs exacerbated by Russia’s invasion of Ukraine comes to an [...]IFC and PFG to Support Growth-Stage Firms in Emerging Markets
IFC, the lending arm of the World Bank, has partnered with Partners For Growth(PFG), a US-based fund manager, to provide capital to fintechs, software firms and those dealing with e-health [...]
DRC Readies Itself for New Solar Battery Manufacturing Plant
the Democratic Republic of Congo (DRC) is readying itself for a new solar battery manufacturing plant is set to be constructed in , to manufacture electric storage batteries to power [...]DRC Enters Shipping Business; Sets up Yard Spaces in Kenya Tanzania
The Democratic Republic of Congo (DRC) is set to enter the shipping business, after obtaining yard spaces in Mombasa and Dar es Salaam. Officials from Kinshasa have announced that plans [...]Local Currency Devaluation Pushes Zimbabwe's Inflation to 131.7% in May
Inflation rate in Zimbabwe skyrocketed back into triple digits in May after the country's central bank effectively devalued the local currency by introducing a new interbank rate at which most [...]Remittances to Sub-Saharan Africa Grows 14% to $49 billion in 2021
Remittances to sub-Saharan Africa grew 14 per cent to $49 billion in 2021, the strongest gain since 2018, even as the continent remained the costliest developing region to send money. [...]Ethiopian Airlines and Boeing Announce Order for Five 777 Freights
Ethiopian Airlines and Boeing Inc. have announced that the carrier is further expanding its all-Boeing freighter fleet with an order for five 777 Freighters. Ethiopian Airlines currently operates a [...]Serum Institute to Set Up First Manufacturing Plant in Africa
The Serum Institute of India (SII), the world's biggest vaccine maker, is considering setting up its first manufacturing plant in Africa as it looks to expand globally after its success [...]Nigeria Central Bank Unexpectedly Hikes Intrest Rate to 13%- First Hike in 6 Years
Nigeria’s central bank unexpectedly raised its benchmark interest rate for the first time in six years to curb accelerating inflation and boost portfolio inflows. The monetary policy committee voted to [...]Untapped Global raises $10.3 Million Pre-seed Round
Untapped Global has announced the close of a $10.3 million round in form of debt and equity pre-seed. The company said it will use the funds to launch its investment [...]
