Author: Tapiwa Matthew Mutisi

Standard Bank, recognized as the largest bank in Africa by assets, is preparing to host its inaugural African Markets Conference (AMC) in Cape Town later this month. This event marks a significant milestone in the bank’s efforts to enhance integration and facilitate smoother business operations across the continent. Luvuyo Masinda,…

The International Finance Corporation (IFC) has announced a proposed commitment of up to $75 million to the Helios Investors V fund, which includes a co-investment envelope of $50 million. This significant financial backing underscores the IFC’s commitment to fostering growth in Africa’s dynamic investment landscape. Helios V is a pan-African…

Revolut, a leading neobank with a remarkable valuation of $45 billion, has announced its plans to investigate potential opportunities in South Africa’s dynamic digital banking landscape. A spokesperson for the company commented, “South Africa is a market we are evaluating, and one we see as attractive, with the potential to…

Access Bank, in collaboration with Visa, has officially launched the innovative Tap to Phone service in Nigeria, marking a significant advancement in the realm of contactless payments. This new offering empowers merchants to accept payments seamlessly using their NFC-enabled Android smartphones, transforming them into fully functional payment terminals. According to…

Zipline, a pioneering drone delivery company, is set to revolutionize healthcare logistics in Nigeria by extending its operations to five additional states. This strategic expansion aims to improve the distribution of medical supplies, including vaccines, blood products, and essential medications, particularly in remote and underserved areas of the country. Having…

As EVs present a cleaner and more sustainable alternative to traditional internal combustion engine vehicles, innovative startups are capitalizing on the growing popularity, technological advancements, cost-effectiveness, and environmental benefits of EVs. One such startup, Everlectric, based in Pretoria, is at the forefront of this movement by offering full maintenance leases…

ORA Technologies, a superapp based in Morocco, has successfully raised $1.9 million in a pre-Series A funding round, led by local investment firms Witamax and Azur Innovation Management. This latest funding round brings the total amount raised by ORA Technologies to $4.4 million since its establishment in 2023, showcasing the…

The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has announced a significant funding contribution of $45 million to CrossBoundary Energy. This investment is aimed at facilitating the expansion of renewable energy solutions, including solar, wind, hybrid energy systems, and battery energy storage systems (BESS), in regions…

The establishment of Africa’s largest distributed renewable energy provider has taken a significant step forward as Kenyan regulators have approved Ignite Power’s acquisition of ENGIE Energy Access. This deal, valued at an undisclosed amount, underscores the intensifying competition to electrify the continent. The Competition Authority of Kenya (CAK) has granted…

Food delivery platform Talabat Holding has successfully completed the acquisition of InstaShop, a prominent online grocery delivery marketplace in the region, from Delivery Hero. The deal, valued at $32 million, was disclosed in a regulatory filing on Thursday. This strategic move is part of Talabat’s ongoing expansion efforts within the…

In a groundbreaking initiative poised to transform mobile connectivity for Nigerian travelers, EMOSIM, a mobile virtual network operator (MVNO) supported by EMO MEDIA Ltd, has announced a strategic partnership with Tata Communications Services. This collaboration will introduce travel eSIMs to the Nigerian market, offering a more economical alternative to traditional…

Frustrated by the steep commissions charged by leading ride-hailing platforms, a collective of Nigerian drivers has introduced SimpliRide, a local app designed to rival established services such as Uber, Bolt, LagRide, and InDrive. In contrast to these competitors, SimpliRide utilizes a subscription model, imposing a flat daily fee of ₦500…

Egyptian artificial intelligence startup Widebot has successfully secured $3 million in pre-Series A funding to advance the development of an Arabic large language model (LLM). Originally established in Cairo, Widebot has since relocated its operations to Riyadh, Saudi Arabia. The company is focused on creating “AQL Mind,” a generative AI…

CI Capital, a prominent diversified financial services group, has partnered with Compass Capital for Financial Investments, an Egyptian alternative investment manager, to launch the C3 Capital Fund 1. This fund aims for a target size of EGP 3 billion (approximately $59.2 million) upon its final close and is focused on…

Sahel Capital has successfully secured a $400,000 working capital loan for MM LEKKER through its Social Enterprise Fund for Agriculture in Africa (SEFAA). MM LEKKER, a company based in Benin, specializes in the sale of soya beans, shea nuts, and cashew nuts, serving both local and international markets. The company…

Kenyan re-commerce startup Badili has successfully raised US$400,000 in debt funding from Proparco, a French development organization focused on fostering private investment in developing nations. Established in 2021, Badili has rapidly made its mark in the East African market, with operations in Kenya, Tanzania, and Uganda. The company is dedicated…

Nedbank Group, in collaboration with the Norwegian investment firm Norfund, is set to acquire a “substantial minority” stake in Pele Energy Group, a renewable energy company co-founded by former JPMorgan Chase & Co banker Gqi Raoleka. This strategic investment will amount to US$31 million (approximately R573 million), as confirmed by…

LoftyInc Capital, recognized as one of Africa’s most proactive investment firms, has successfully secured new funding to bolster its investments in startups across the continent. This development comes in the wake of a report from VC firm Partech, which indicated only a minor decline in funding deals and volumes in…

The European Investment Bank (EIB Global) and Stanbic Bank have announced the launch of a substantial €20 million (approximately ZWG 525.9 million) credit line aimed at providing long-term loans under favorable conditions to small and medium-sized enterprises (SMEs) in Zimbabwe. This initiative specifically targets SMEs owned or operated by women,…

Canal+, the French media conglomerate, has announced a significant development regarding its planned acquisition of South Africa’s leading pay-TV broadcaster, MultiChoice. The company has extended the deadline for this acquisition by an additional six months, pushing the anticipated completion date to October 8, 2025. This extension is primarily due to…