Author: Tapiwa Matthew Mutisi

Old Mutual is preparing to launch a new retail bank in South Africa, marking a significant strategic shift nearly a decade after it divested its majority stake in Nedbank, one of the country’s largest financial institutions. The new entity, provisionally named OM Bank, is scheduled for a nationwide rollout in Q4 2025,…

FMO, the Dutch development finance institution, has committed €11.2 million in financing to support the development of a solar energy project in Burkina Faso. The funding, sourced from FMO’s Building Prospects Fund, is designed to catalyze sustainable infrastructure in emerging markets and is expected to mobilize an additional €6 million in concessional capital from the African…

Chowdeck, the Y Combinator-backed on-demand delivery startup, has raised $9 million in Series A funding to fuel its expansion across West Africa, particularly in Nigeria and Ghana. This funding round comes on the heels of Chowdeck’s successful entry into the Ghanaian market, underscoring investor confidence in its hyper-local strategy tailored to African…

Amid escalating tensions between the United States and China, President Donald Trump has publicly called for the resignation of Intel CEO Lip-Bu Tan, accusing him of being “highly conflicted” due to alleged ties to Chinese companies. The demand was made via Trump’s Truth Social account, where he wrote: The CEO of…

OpenAI has officially launched GPT-5, the latest and most advanced version of its generative AI model, marking a significant milestone in the evolution of artificial intelligence. This new model powers the widely used ChatGPT platform, which now serves over 700 million users globally, and promises to push the boundaries of what AI…

Vodacom has announced a major milestone in telecommunications by successfully placing South Africa’s first native voice call over a 5G network, known as Voice over New Radio (VoNR). The call was made using a test network, and the company hinted that the technology could soon be rolled out to its live…

Leading consultancy firm Salient Advisory is proud to mark five years of advancing the scale and impact of African healthtech across the continent. Through strategic partnerships, market intelligence and transformative initiatives, the advisory firm has helped facilitate over $20 million in catalytic funding to startups improving access to lifesaving medicines and healthcare.…

South African investment firm Kogae Rainbow Investment Holdings has acquired a 65% equity stake in Boomgate, a prominent local manufacturer specializing in high-security access control systems. The acquisition encompasses both Boomgate Systems and Boomgate International, marking a significant strategic move aimed at scaling the company’s operations and expanding its reach across global markets. Thabile Wonci, CEO of Kogae…

Sahel Capital, a leading investment management firm dedicated to advancing food and agriculture across sub-Saharan Africa, has successfully closed a $590,000 loan facility with Rasad Nigeria through its Social Enterprise Fund for Agriculture in Africa (SEFAA). This strategic funding package is structured to support both operational and growth needs, with…

MTN Group, South Africa’s largest mobile operator, has announced that it expects a significant rebound in performance for the first half of 2025, following a difficult 2024 financial year marked by substantial losses. The group faced severe financial pressures in 2024, primarily due to the sharp devaluation of the Nigerian naira in its largest…

Shoprite Holdings, South Africa’s largest grocery retailer, has officially exited Ghana and Malawi, marking its seventh withdrawal from African markets. This strategic move underscores the company’s renewed focus on strengthening its core operations in South Africa after years of challenging trading conditions across the continent. Shoprite has agreed to sell its five stores in Malawi to Karson…

Jumia, Africa’s leading e-commerce platform, has delivered an impressive turnaround in its second-quarter results for 2025, signaling strong progress toward its long-term profitability goals. The company reported revenue of $45.6 million, up from $36.5 million in the same period last year, a 25% year-over-year increase. Jumia reaffirmed its strategic target to break even on a…

ViFi Labs, a decentralized stablecoin protocol focused on building on-chain foreign currency exchange (FX) venues, has announced the acquisition of OneRamp, a leading stablecoin payments platform serving users across Africa. The acquisition forms part of ViFi’s broader strategy to capture a significant share of the $540 billion institutional stablecoin market across Africa and Latin…

ADvTECH, the JSE-listed private education group and one of South Africa’s leading providers of private schooling, has strengthened its presence in East Africa with the acquisition of Regis Runda Academy in Nairobi, Kenya. The deal, valued at R172 million, forms part of the group’s broader international expansion strategy. ADvTECH operates some of South…

The International Finance Corporation (IFC) has announced an investment in Filmmakers Mart (FMM), Africa’s first integrated digital production platform, to enhance access to production services across the continent’s growing film and entertainment industry. This marks IFC’s first investment in Nigeria’s audiovisual sector and its first co-investment with Sony Innovation Fund Africa. FMM is designed to streamline…

Kasada, the pan-African hospitality investment platform, has successfully closed a €15 million debt facility from the Africa Go Green Fund (AGG), managed by Cygnum Capital. This financing will support the development of a greenfield hospitality project in Abidjan, Côte d’Ivoire, reinforcing Kasada’s commitment to sustainable and environmentally conscious hospitality across Africa. The upcoming development will be located…

Alaan, a UAE-based AI-driven spend management platform, has raised $48 million in Series A funding, marking one of the largest fintech funding rounds in the MENA region. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from Y Combinator, 468 Capital, Pioneer Fund, and prominent founders from leading regional…

The Foschini Group (TFG) has reported a significant increase in sales, driven largely by its acquisition of UK-based fashion retailer White Stuff. The acquisition, completed in October 2024 through TFG’s UK subsidiary, added a well-established brand with over 100 standalone stores and approximately 50 concessions across the UK to TFG’s portfolio. Founded in 1985, White Stuff is known…

The Young Women in Business Network (YWBN) Mutual Bank has officially rebranded as eNL Mutual Bank, following the South African Reserve Bank’s Prudential Authority gazetting the name change on Friday, 25 July 2025. The change took effect on 1 July 2025. The new name pays tribute to the bank’s founder and managing…

Airtel Nigeria has announced that it is working closely with smartphone manufacturers to reduce the cost of 5G-enabled devices, as part of a broader strategy to make next-generation internet access more affordable and accessible to Nigerians. Speaking at a media briefing on Tuesday, August 5, 2025, Airtel Nigeria CEO, Dinesh…