Author: Tapiwa Matthew Mutisi

The Swiss development finance institution, SIFEM, has committed $15 million to the first close of Ninety One’s Africa Credit Opportunities Fund 3, which aims to raise a total of $500 million. This initiative is focused on channeling private credit investments into businesses across Africa and other emerging markets. Managed by…

SPE Capital Partners, through its AIF I Fund, has made a significant investment of MAD 350 million (approximately $35 million) in the Moroccan consumer goods company Dislog Group. This investment has received approval from Morocco’s competition authority. In addition to SPE Capital’s investment, an international financial institution will contribute an…

Technology investor Naspers announced on Monday that its Prosus e-commerce subsidiary is planning additional listings following the successful Indian initial public offering (IPO) of Swiggy last month. This announcement came as Naspers reported a 74% increase in half-year core earnings. Naspers revealed that the goal for Amsterdam-listed Prosus, which holds…

Intel CEO Pat Gelsinger has announced his retirement, the company revealed on Monday. This decision comes after a challenging period for the chip industry pioneer, which has struggled to maintain its competitive edge in the AI era, with companies like Nvidia leading the market. In response to Gelsinger’s departure, Intel…

Togolese startup PickApp is preparing to launch a pilot program for its electric vehicle (EV) ownership and ride-sharing platform in Lomé, the capital of Togo. Founded in 2023 by siblings Joseph, and Rebecca Olurin, PickApp aims to make EVs more accessible to the general public through a range of innovative…

Prosus, a technology investor with a customer base exceeding two billion worldwide, reported a profit for the first half of the year. This marks a significant turnaround as the company sold stakes in various online businesses in China and South Africa. For the six months ending on 30 September 2024,…

Phuthi Mahanyele-Dabengwa, the current CEO of Naspers South Africa, will be appointed as an executive director and will serve on the boards of both Naspers, which is listed on the Johannesburg Stock Exchange (JSE), and its subsidiary Prosus, which is listed in Amsterdam. Her appointment to these prestigious positions will…

Fifteen startups, organizations, and individuals have been announced as winners at the African leg of the Global Startup Awards (GSA) and will now advance to the global final. The Global Startup Awards (GSA) Africa, in partnership with the Global Innovation Initiative Group (GIIG), recently unveiled the 15 African winners at…

South Africa’s Minister of Trade, Industry, and Competition is challenging a decision by the nation’s Competition Tribunal that blocked Vodacom Group Ltd.’s R13.2 billion deal to acquire a stake in Remgro Ltd.’s fibre businesses. Parks Tau, who oversees the competition regulators in the country, is seeking to overturn the Tribunal’s…

Kenyan electric mobility company Roam is preparing to launch 10 additional solar-powered Roam Hubs in Nairobi, supported by funding from ENERGICA, an initiative under the European Union’s Horizon 2020 program. This project aims to enhance the adoption of sustainable and cost-effective transportation solutions for electric motorcycle riders in the city.…

The sixth edition of the Ocean Innovation Africa (OIA) summit is scheduled to take place in Dar es Salaam, Tanzania, from February 24-28, 2025. This event will serve as a flagship component of Regenerative Ocean Week, positioning itself as Africa’s most significant platform for ocean innovation, conservation, and sustainable development…

Sahel Capital, the fund manager for the Social Enterprise Fund for Agriculture in Africa (SEFAA), has approved a term and working capital loan of approximately $610,000 to support Oyster Agribusiness, a Ghanaian-based company. Oyster Agribusiness plays a pivotal role in connecting smallholder farmers in the Kintampo region of Ghana to…

Nigerian venture capital firm Venture Garden Group (VGG) has joined forces with Ascend Studios and the United States Agency for International Development (USAID) to launch the Africa Creative Blueprint (ACB). This initiative is designed to provide innovative capacity-building resources and skills to help women and youth thrive in Nigeria’s creative…

Senegal-based startup Solarbox Africa, specializing in e-mobility and energy solutions, has successfully closed a US$1 million pre-seed funding round. This funding will enable the company to meet the growing demand for its solar-powered electric vehicles (EVs) in Senegal and the broader West African region. Founded in 2022 by Tijan Watt…

The board of directors at MTN Group has decided to extend the contract of CEO Ralph Mupita by an additional five years. Initially, Mupita’s contract was set to expire at the end of September next year, but it has now been extended until August 2030. MTN, which holds the title…

Kenyan startup Keep IT Cool, known for its innovative and sustainable refrigeration solutions that are transforming food preservation, has secured funding from global impact investor Acumen to support its pan-African expansion plans. Founded by Francis Nderitu and Abigail Gachigi in 2021, Keep IT Cool connects supply and demand in the…

Ninety One, a leading investment firm, has announced the first close of its third Africa and emerging markets-focused credit opportunities strategy, securing $260 million in commitments. The fund, known as ACO Fund 3, has garnered support from prominent international institutions, including the International Finance Corporation (IFC), British International Investment, and…

In its final meeting of the year, Nigeria’s Central Bank has raised interest rates to 27.5% following a surge in inflation in October. The monetary policy committee (MPC) increased the benchmark interest rate by 25 basis points. Governor Olayemi Cardoso stated during a media briefing on Tuesday; The considerations of…

Kenya’s Capital Markets Authority (CMA) has given the green light to Safaricom’s second money market product, Ziidi. This new offering, developed in partnership with Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited, aims to meet Kenya’s growing demand for accessible digital investments. Safaricom first entered the…

Microsoft has quietly announced the end of an era, revealing that the Xbox Avatar Editor will be discontinued early next year. “Due to low engagement and our shift in focus towards delivering other player experiences, the Xbox Avatar Editor app will no longer be available starting on January 9, 2025,”…