Afreximbank has launched the Afreximbank Academy (AFRACAD), a learning, knowledge, and networking hub designed to help advance African trade through capacity building and leadership. The hub was launched at an event on 3 October 2022 in Kampala, Uganda. Stephen Kauma, Director & Global Head, Human Resources at Afreximbank, said at…
Author: Oluwasegun Olukotun
Egypt’s SaaS startup, Glamera, has secured $1.3 million in a seed fund round led by Riyadh Angels Investors (RAI), with participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures”, and Super Angel Investors. The All-In-One platform provides B2B services to beauty and lifestyle services providers…
The African Development Bank has approved a $15 million trade finance line of credit and $10 million transaction guarantee for FSDH Merchant Bank in Nigeria. FSDH will use the line of credit to provide loans to local enterprises in Nigeria. The $25 million package will help to reduce the trade…
Clean energy company, d.light has appointed Nick Imudia as its new Chief Executive Officer. d.light is a leading innovator in the distribution and financing of residential solar energy solutions and transformational household products. Imudia with over two decades of experience scaling complex organizations brings a high level of Africa expertise…
Vodacom Business Africa has expanded its Software-Defined Wide Area Networking (SD-WAN) solution to 47 operating countries across its African footprint having deployed it initially to just businesses in South Africa. Vodacom is driven by the mission of supporting the internationalisation of multinational businesses into Africa. Testament to this is continuous…
The Africa’s Business Heroes (ABH) Prize Competition 2022 in August announced the 20 finalists for the 2022 edition of the competition. Today, the philanthropic initiative has unveiled this year’s top 10 finalists following an intense round of semi-finale business pitches and judging held on September 30 at the Kigali Convention…
Egypt’s IoT devices manufacturer CardoO has raised $660,000 in a Seed funding round, led by The Alexandria Angels, with the participation of Sofico Investments, angel investors from Saudi Arabia, and the European Bank for Reconstruction and Development (EBRD). The new investment will allow CardoO to improve its products, as well…
Egypt’s gaming startup Cryptyd Inc has secured an undisclosed amount of funding from existing and new investors. Cryptyd will deploy the new investment into supporting marketing costs of the company’s flagship product Baloot Quest targeting GCC markets. Also, the startup will commit a part of the fund raised into the…
Morocco’s B2B e-commerce startup Chari has raised $1 million from Endeavor Catalyst as part of its Series A funding round. The investment will enable the startup to strengthen its continental expansion and begin its shift to fintech by financing the acquisition of Axa Credit, subject to central bank approval. Founded…
Music and entertainment company, Warner Music Group has partnered with OpenSea, a peer-to-peer marketplace for NFTs to provide a platform for select WMG artists to build and extend their fan communities in Web3. The partnership will see WMG artists get early access to OpenSea’s new drops product, along with improved…
Kaspersky’s latest Financial Cyberthreats report shows that attacks in the financial sector are becoming increasingly corporate-oriented and shifting away from consumers. Kaspersky Security Network data shows that the number of financial phishing attempts in the African regions increased significantly from Q1 to Q2 of 2022. Banks, payment systems, and e-commerce websites…
Ecobank Kenya Limited is launching its flagship Women’s Programme ‘Ellevate’ to empower and support women-led and/or women focused with the financial and value-added solutions that will help their businesses reach their full potential and succeed. Small and medium-sized enterprises (SMEs) account for about 90% of all businesses in Africa and…
Anglo-Dutch oil company Shell is set to acquire Daystar Power, a West African provider of hybrid solar power solutions to commercial and industrial (C&I) businesses. The acquisition which is subject to regulatory approvals is aimed at delivering carbon emission reductions and power cost savings to C&I businesses across Africa. Daystar…
CrossBoundary Energy Access Nigeria (CBEA) and ENGIE Energy Access Nigeria (ENGIE) have announced a project finance agreement to build a $60 million portfolio of mini-grids that will connect over 150,000 people to electricity in Nigeria. ENGIE has developed a pipeline of mini-grids to build over the next four years. As…
The International Finance Corporation (IFC) is broadening its relationship with the West Indian Ocean Cable Company Holding Ltd (WIOCC Group), a leading digital connectivity and infrastructure provider in Africa, with a $30 million equity investment to improve access to quality broadband internet and data hosting services for homes and businesses…
Egypt’s proptech startup, Partment, has secured $1.5 million in a Pre-seed funding round led by Nclude, Plus Venture Capital (+VC), along with a group of angel investors. Founded in 2022 by Ahmed El Raggal and Nadim Nagui, Partment offers a hassle-free solution for second home co-ownership. Through the digital platform…
Ugandan fintech, Numida has secured $12.3 million in a funding round. Serena Williams’ Serena Ventures led the round with $12.3 million with support from Breega, 4Di Capital, Launch Africa, Soma Capital, Y Combinator and MFS Africa. While Lendable Asset Management will provide the remaining $5 million in form of a…
South Africa’s online home services platform, SweepSouth, has secured $11 million in a funding round led by Alitheia IDF with participation from current investors like Naspers Foundry, The Michael and Susan Dell Foundation, and Futuregrowth Asset Management. New investors like Endeavor Catalyst, Endeavor’s Harvest Fund II, Caruso Ventures and E4E…
Polygon, a decentralised Ethereum scaling platform in partnership with Xend Finance, a Nigerian web3 startup has launched the Polygon Bootcamp Africa Class of 2022. The bootcamp is an exclusive 8-week mentor-led program that includes a hackathon event in partnership with Xend Finance for individuals who want to take the next…
Reigning Italian Serie A Champions, AC Milan has partnered with MonkeyLeague to launch NFT Game. MonkeyLeague is a strategy-based web3 esports game that’s easy to learn yet hard to master. AC Milan is one of the powerhouses of club football in the world. Their 18 international trophies and 19 league…