Nigeria's Aella Raises KSh1B to Lend to Underbanked
Nigeria's fintech Aella has received Ksh1 billion ($10M) debt financing from HQ Financial Group to lend to the underbanked. The start-up has so far netted 300,000 borrowers by building trustworthy [...]
Why Egypt is Africa’s Top Investment Hub
The sheer size of its market, accompanied by a relatively sophisticated business sector relative to its neighbours makes Egypt the most attractive investment destination in Africa. This is according to [...]
Ethiopian EdTech Gebeya Raises KSh200M Seed Investment
Ethiopia's Gebeya Inc. closed a Ksh200 million ($2M) seed round investment co-led by Partech, Orange Digital Ventures, and Consonance Investments Limited. Gebeya, an Ed Tech and online software outsourcing Marketplace [...]South African Airways to Reduce Destinations
South African Airways (SAA) has announced plans to cut its flights to various destinations, with effect from 29th February 2020. The affected routes are; Hong Kong, East London, Port Elizabeth, [...]
FarmCrowdy to Expand into Retail Meat Hubs
Nigerian Startup Farmcrowdy has acquired Best Foods LP Limited targeting entry into the meat sub sector in the West African Nation. Farmcrowdy intends to set Farmcrowdy Meat Hubs across Lagos [...]Africa Finance Corporation Increases Investment in Gabon
Africa Finance Corporation (AFC) has increased it stake in Gabon's Special Economic Zone (SEZ) from 21% to 26%, after investing an additional $52.8 million. Since its inception in 2010, Gabon's [...]TLcom Africa Fund Raises KSh7.1 Billion
TLcom venture capital has received additional capital from new partners for its TIDE Africa Fund bringing the total funds to Ksh7.1B. The new partners include World Bank's IFC, CDC from [...]Qatar Airways to Acquire a Stake in RwandAir
Qatar Airways is set to buy a 49% stake in Rwandair, Rwanda's national flag carrier, a move that seeks to grow Qatar Airways' presence in the continent. This comes barely [...]Vodacom Set to Launch 5G in South Africa
Vodacom has signed a roaming agreement with Liquid Telecom to launch 5G services in South Africa in the course of this year. Vodacom is banking on Liquid's 3.5 GHz spectrum [...]Bank Of Ghana Named Central Bank of the Year Globally
The Bank of Ghana (BoG) has emerged as the Central Bank of the year 2019, according to the international Central Banking Awards. The awarding body cited impressive record of achievements [...]EABL Raises Stake in Serengeti to 75%
The East African Breweries Limited (EABL) has raised its stake in Tanzania's Serengeti Breweries from 51% to 74.5%, after buying additional shares at a cost of $3 million (KSh 300 [...]Ghana Reopens Idle Obuasi Gold Mines
Ghana, through its government and the AngloGold Ashanti Limited, has reopened its Obuasi gold mines, after lying idle since 2016. According to AngloGold Ashanti Limited, the first phase of the [...]
