Author: Tapiwa Matthew Mutisi

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…

Canal+ is embarking on a significant restructuring initiative concerning its acquisition of MultiChoice, South Africa’s leading pay-TV broadcaster. This plan involves the creation of two distinct entities: LicenceCo, which will be responsible for holding the broadcasting license, and the remaining operations, which will continue under the MultiChoice Group. This strategic…

The Federal Government of Nigeria has officially ended its long-standing partnership with Remita, a payment solutions provider that has facilitated government financial transactions for the past 13 years. This decision represents a significant setback for System Specs, the parent company of Remita, which processed approximately $30 billion annually in 2016…

PaySpace, a prominent leader in payroll technology across Africa and the Middle East, has officially rebranded as Deel Local Payroll, powered by PaySpace, following its acquisition by the global payroll giant Deel in 2024. The acquisition deal was reportedly valued at around $100 million, marking a significant milestone for both…

AI startup Anthropic announced on Monday that it has successfully raised $3.5 billion in its latest funding round, achieving a post-money valuation of $61.5 billion. This significant Series E funding round was led by Lightspeed Venture Partners and saw participation from a diverse group of investors, including Bessemer Venture Partners,…

Namibia is exploring the potential launch of its central bank digital currency (CBDC) as a means to enhance cross-border payments and promote financial inclusion within the country. The Bank of Namibia (BoN) is currently in the preliminary stages of assessing whether a CBDC could effectively address the payment challenges faced…

Ghana International Bank plc (GHIB) and British International Investment (BII) have announced a groundbreaking $50 million trade finance facility aimed at bolstering businesses in several African nations, including Sierra Leone, Liberia, The Gambia, Benin, the Democratic Republic of Congo (DRC), Rwanda, and Tanzania. This initiative marks the first collaboration between…

Finnfund, the Finnish development financier, is significantly increasing its investment in the South African telecommunications company Fibertime Group by injecting an additional €2 million (approximately $2 million USD). This funding aims to expand Fibertime’s fibre internet access to underserved townships in South Africa, highlighting a growing commitment to bridging the…

FMO, the Dutch development bank dedicated to fostering entrepreneurial growth, has launched a groundbreaking $4 million fund aimed at supporting early-stage businesses in Ghana, Nigeria, and Tanzania. This initiative marks a significant shift in impact investment strategies within sub-Saharan Africa, focusing on addressing the critical funding gaps that hinder the…

The International Finance Corporation (IFC) has made a significant commitment of up to $6 million in equity investment to the Ventures Platform Pan-African Fund II (VP II). This venture capital fund is dedicated to supporting early-stage technology-enabled startups across Africa, with the primary goal of enhancing access to seed-stage financing…

South African AgriTech startup Khula has successfully secured a remarkable R126 million in funding from its existing investors, which include prominent names such as Absa Bank, AECI, E Squared Investments, and PepsiCo’s Kgodiso Fund. This funding round marks a significant milestone for the company, highlighting the confidence that investors have…

South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA), has announced that cryptocurrency platforms dealing with non-fungible tokens (NFTs) will not be required to obtain a financial service provider license at this time. This decision is based on a comprehensive risk assessment conducted by the FSCA, which concluded that…

Ghana is poised to launch its central bank digital currency (CBDC), the e-Cedi, after several years of development. Once a frontrunner in the CBDC landscape in Africa, Ghana fell behind when Nigeria introduced the eNaira over three years ago. The Bank of Ghana (BoG) has announced that it is ready…

Three Francophone African startups have emerged as winners in the latest edition of the Orange Summer Challenge, a program designed to give entrepreneurs a three-month window to transform their innovative ideas into viable businesses. Established in 2011, the Orange Summer Challenge serves as the flagship initiative of the Orange Digital…

The African Business Angel Network (ABAN), in collaboration with a consortium of leading market players, has officially launched the Africa Sports & Creative Early Stage Investor Network. This initiative is specifically designed to mobilize angel capital for high-growth startups operating within the sports and creative sectors. As the largest pan-African…