Author: Samuel Ige
“This agreement initiates a transformative effort to develop, finance, construct, operate, and maintain essential transmission lines and substations across Kenya.”
Funding to bolster African Health-Tech System 11th October, 2024 Pan-African investment, AfricInvest, has announced that it has successfully closed its Transform Health Fund (THF), surpassing its initial $100 million benchmark in the process. The funding, with a final figure pegged at $111 million, was managed in partnership with the Health Finance Coalition (HFC). The Health Finance Coalition is a group of leading global health donors, development financial institutions and technical partners aiming to scale blended finance solutions for the healthcare sector. “The Transform Health Fund demonstrates that health enterprises serving the most vulnerable communities are in fact investible””The context of…
Mustek seals acquisition deal with Sizwe Africa IT 11 October, 2024 Mustek, a South African IT company, has taken a one-million-dollar step as it acquires a 70% stake in CyberAntix, a security operations centre-as-a-service provider, from Sizwe Africa IT. In a deal worth R20 million ($1.1 million) deal, both companies oversaw an R8 million ($457,820) transfer of shares and a R12 million ($686,730) shareholder loan. Sizwe Africa IT, owned indirectly by Ayo Technologies through Zaloserve, sanctioned the sale as part of a shift in its strategic priorities. NIL Data Africa, another multinational giant among IT service providers will continue to…
US-based BG Titan Group has launched its Titan E-Farms initiative in Uganda. This launch represents a first step aimed at transforming agriculture across East Africa. With a total project size exceeding $650 million, the Titan E-Farms project aims to establish a sustainable agricultural model that supports economic growth while tackling critical environmental challenges. On the heels of its launch in Uganda, BG Titan Group plans to expand the Titan E-Farms model to neighbouring East African countries, including Kenya, Tanzania, and Rwanda. One of the core goals of the Titan E-Farms project is to generate clean energy, with the potential to…
Nigerian open banking startup, Okra, has officially made its entrance into the cloud infrastructure market on the wings of its new service, Nebula. Nebula is a new cloud service designed to support local innovation and reduce reliance on foreign solutions. This feature positions Nebula competitively against local rivals like Nobus, Galaxy and Layered – all homegrown cloud providers positioning themselves as alternatives to global giants such as Amazon Web Services (AWS) and Microsoft Azure, especially in a market grappling with severe currency devaluation. The launch marks a seismic shift for Okra as it seeks to diversify its offerings in response…
Climate Tech to contribute to combating climate change
South African shipping company for eCommerce exporters, TUNL, has completed a seed round to boost marketing support for small and medium sized enterprises (SMEs). This funding comes ten months after the startup announced its $1 million pre-seed funding to accelerate its expansion within its primary market, South Africa. At the same time, it aims to break into other key African and emerging markets. Venture capital firm E4E Africa, along with investors like Jonathan Smit, Jozi Angels, and Utopia Capital Management. The new funding will enhance the startup’s rapid growth in the South African market, including product expansion into international payments…
The launch of Kazang Pay in Zambia comes on the heels of the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.
Malawi is reportedly one of the least electrified countries in the world, with 11% of the population connected to electricity, 42% in cities and only 4% in villages.
As a crucial part of the collaboration, Amazon will adopt Mastercard Gateway as a payment solution that will be made available in 40 markets in the region