[Column] Alta Prinsloo: Empowering finance professionals is fundamental in attaining sustainable development in Africa
This evolution has, not only transformed our roles and responsibilities as finance and accounting professionals but has also shifted the skillsets required demanding continuous learning and upskilling.
Kenya is currently ranked 25th in the world as the most likely to be targeted for malware attacks according to Check Point Research’s October Malware Report.
STANLIB has launched a new fund, the STANLIB Corporate Enhanced Yield Fund, in response to demand from SA’s corporate treasuries for a higher yield on a portion of the substantial cash they hold for longer dated requirements.
Nuvei Corporation, the Canadian fintech company, announced that it has partnered with Microsoft to deliver leading payment experiences for customers of its products, solutions, and services across many of its key markets.
Le conseil d’administration du FMI conclut les premières revues de la facilité élargie de crédit (FEC) et du mécanisme élargi de crédit (MEDC) de la Côte d’Ivoire
Grey, a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans has rebranded completely with a new logo and website.
dLocal, a leading cross-border payment platform, is thrilled to announce its strategic partnership with Jeeves, a global financial technology platform that provides businesses with comprehensive financial solutions, to facilitate secure client payments across Africa, Asia, and Latin America.
Wic Capital obtient un prêt de 1 million $ pour accroître le financement de PME détenues par des femmes
Le fonds d’investissement centré sur les femmes, Wic Capital, a obtenu une ligne de crédit de l’investisseur britannique FSD Africa pour poursuivre son activité de financement de femmes entrepreneures au Sénégal et en Côte d’Ivoire.
FMO & Green Climate Fund tackle biodiversity loss & deforestation through USD 180 mln agreement to &Green Fund
At COP28, Green Climate Fund (GCF) and FMO signed an agreement to provide a USD 180 million investment to the &Green Fund. The investment from GCF, the world’s largest dedicated climate fund, will help to unlock private sector capital for &Green which will further equip the fund in its mission to promote global food security.
Trezor Bitcoin has introduced Trezor Academy & Bitcoineta to spread Bitcoin knowledge to all Africans.
The agreement, which was signed during the ongoing 28th Conference of the Parties (COP 28), supports urgently needed financing for infrastructure projects to underpin sustainable development and economic growth.
IFC announced a partnership with Al Baraka Bank Egypt to increase access to finance for micro-, small- and medium-sized enterprises (MSMEs) in Egypt, including women-owned businesses, helping catalyze economic activity and job creation in the country.
The U.S. International Development Finance Corporation (DFC) has committed a $24 million equity investment in Miro Forestry Developments Limited (Miro) to expand the company’s sustainable forestry and timber processing on degraded land in West Africa.
European Investment Bank and Bank of Kigali outline €100 million plan to enable Rwandan farmers adapt to climate change
The scheme will provide a substantial boost to smallholders, businesses, and enterprises dependent on climate-vulnerable agriculture across Rwanda.
African Development Bank announces $1 billion insurance facility to protect millions of farmers in Africa
Adesina said the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) aims to mobilise $1 billion of concessionary financing, high-risk capital and grants to support the African insurance industry.
In an era where digital content consumption is on the rise, the marriage of blockchain technology and video streaming platforms has ushered in a new era of decentralization.
Mastercard has partnered with South African Bidvest Bank to provide a solution that allows customers to send international remittances at their convenience.
Swiss-Israeli fintech startup Okoora has opened a new branch in Limassol, Cyprus. These new European offices will support the organization’s push to obtain an EMI (Electronic Money Institution) license, which will assist it in facilitating incoming and outgoing electronic payments within EU countries
Equity Group now holds 198,250 shares representing 99.1250% of the issued share capital of COGEBANQUE, following receipt of all regulatory and corporate approvals, officially making COGEBANQUE its subsidiary.
New agriculture and agri-business climate finance to support farmers and agri-businesses prepare for extreme weather, increased drought and increased rains.
Global Green Bond Initiative fait équipe avec BAD pour renforcer les marchés d’obligations vertes en Afrique
Le Groupe de la Banque africaine de développement a signé un accord de partenariat conjoint avec la coalition d’institutions de financement du développement de la Global Green Bond Initiative pour une collaboration en matière d’assistance technique.
West African Development Bank and Africa Finance Corporation form strategic partnership to drive economic development
AFC and West African Development Bank announced a strategic Memorandum of Understanding (MoU), solidifying their joint commitment to promote infrastructure and economic progress across Western African state.
In a powerful signal of support during COP28, African and global institutions together with governments of Germany, France and Japan and philanthropies have pledged over $175 million to the Alliance for Green Infrastructure in Africa (AGIA).
The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%.
The research – based on investor interest from a survey of 1,800 respondents – identifies a wider USD8.2 trillion of retail capital potential in sustainable investing and shows that climate investing is gaining traction.
More than 63 per cent of Kenyans rely on the Internet and technology for their savings and investment needs. This is according to a new study by Enwealth Financial Services.
The African Development Bank will mobilize financing for climate action at this year’s UN Climate Change Conference, COP28, and amplify Africa’s calls for robust commitments by wealthy countries to meet the continent’s urgent needs in addressing climate change.
The project will also benefit from a $13.17 million (€12.12 million) loan from the Canada-African Development Bank Climate Fund (CACF), administered by the Bank, providing long-term concessional loans for climate change adaptation and mitigation projects.
Project East to West aims to link landlocked African countries with an extensive terrestrial fibre optic network. This partnership recognises the vital role of pan-African collaboration in constructing telecommunication highways, essential to meet the surging demand and need for affordable connectivity solutions in Africa.
Le Conseil d’Administration de la Banque Ouest Africaine de Développement (BOAD) s’est réuni et autorise de nouveaux engagements pour un montant global de 117 milliards FCFA.
MIGA has issued guarantees amounting to €19.9 million to Meridiam, an independent investment Benefit Corporation and asset manager specializing in public and community infrastructure, to cover its investments in Dakar Mobilité SA (DM) in Senegal for up to 15 years.
Finnfund’s investment bridges the digital divide in South Africa with help of technology from Nokia.
ARCH Cold Chain Solutions received funding from a range of financial institutions, including development finance institutions such as the European Investment Bank, which provided $15 million.
AFC has invested US$60 million in Etu Energias (formerly Somoil), the largest private Angolan oil company, as part of a drive to boost indigenous participation in the continent’s energy sector.
Mastercard and Societe Arabe Internationale De Banque collaborate to drive digitization of payments in Egypt
Through this partnership, saib has selected Mastercard as its partner to diversify its product portfolio, and provide a wider range of financial services to small and medium-sized businesses (SMEs).
Oikocredit invests € 7.5 million in Vista Bank Burkina to support SMEs and educational finance in Africa
Oikocredit is providing a loan of € 7.5 million to support the growth initiatives of Vista Bank Burkina in Burkina Faso.
Grey, a cross-border fintech company, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design. This strategic move aligns with the company’s dynamic plans to expand its footprint in the global market.
IFC invests in New Apis Fund to support mid-cap companies and improve financial inclusion across Africa and Asia
IFC has announced an investment in a new fund by Apis Partners LLP, a private equity firm, to help innovative mid-cap financial service providers expand and boost financial inclusion among individuals and micro, small, and medium-sized enterprises across Africa, South Asia, and Southeast Asia.
On the sidelines of the recently concluded Saudi-Arab-African economic conference in Riyadh, Saudi Arabia, Saudi Exim Bank and the ECOWAS Bank for Investment and Development (EBID) signed a loan agreement.
IMAP began in 1973 in the US, initially under the name NAMAC (National Association of Merger and Acquisition Consultants). In order to reach new markets and create opportunities for its clients, it started recruiting top M&A advisory firms outside the US, and rebranded IMAP, standing for the International M&A Partnership.
Le programme ''Comment Exporter avec la ZLECAf'' a signé les deux accords clés à l'occasion de l'IATF 2023
Les Accords visent à accélérer la Croissance Économique et à établir une Plateforme pour les Échanges de Connaissances et le Renforcement des Capacités en Afrique
Canada and African Development Bank Climate Fund approves $36.3 million in support to climate adaptation
The Canada–African Development Bank Climate Fund (CACF), established to support gender-affirmative climate change projects in Africa, has approved $36.3 million to two private sector operations to advance climate adaptation in the African continent.
Le Conseil d’administration du Groupe de la Banque africaine de développement a approuvé l’octroi d’un prêt de 86,89 millions d’euros au Sénégal pour développer une zone de transformation agro-industrielle dans le Nord du pays.
Africa Healthcare Network (AHN) secures $20 Million in funding led by Africa50 and AfricInvest for a continent-wide expansion.
IFC et KERA Health Platforms ont annoncé un partenariat pour enrichir l'écosystème de soins de santé
IFC et KERA Health Platforms ont annoncé un partenariat qui permettra de connecter et d'enrichir l'écosystème de soins de santé grâce à des services utilisant l'intelligence artificielle (IA).
Oikocredit to provide US$ 2 million in Kenya and US$ 160,000 in Uganda to finance community WASH initiatives
Joint support for inclusive finance institutions will accelerate low-income Kenyans’ and Ugandans’ access to safe water and sanitation services.
ZCG and the Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, announced a joint venture partnership to establish a fund focused on infrastructure investments in Africa.
[Free Webinar] Unlocking Success in New Markets: Cross-Border Payments Strategies for South African Businesses
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The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the Federal Republic of Nigeria.
L’objectif de cette acquisition est de créer un groupe pharmaceutique diversifié au Maroc et en Afrique, construit autour de pôles spécialisés et compleméntaires.
Mediterrania Capital Partners welcomes Bpifrance to the MC IV fund consolidating 10 years of collaboration in support of African companies.
This strategic collaboration offers the opportunity to leverage the unique economic and financial opportunities that are currently burgeoning within the African continent.
IFC and KERA in a deal to improve access to healthcare services in West Africa using digital solutions
KERA digitizes and connects distributed health information to create an integrated health platform for Africa, starting in Senegal.
Through this partnership, IDB and Mastercard will collaborate to enhance the bank’s offering through providing its customers with a comprehensive portfolio of innovative solutions across its credit, debit and commercial card proposition.
iPay is one of the ﬁrst digital payments platforms in the country to work closely with Visa on the rollout of Tap to Phone technology, putting the ﬁrm at the forefront of innovation in the digit payments industry.
The Burundi Better Coffee Initiative, "Ikawa Nziza mu Burundi”, will benefit over 50,000 coffee farmers in Burundi over the next five years by focusing on improving quality and climate resilience.
The Permanent Parliamentary Committee on Energy and Minerals inspects the East African Crude Oil Pipeline
The Permanent Parliamentary Committee on Energy and Minerals has visited the Chongoleani Port facility of the East African Crude Oil Pipeline (EACOP) project and has been satisfied with the progress of the project.
Access to Finance Rwanda, ConsumerCentriX,and Partners announce winners of SME Response Clinic Business Awards
Access to Finance Rwanda and ConsumerCentriX today announced the winners of the inaugural SME Response Clinic Business Awards following the Twiteze Imbere campaign to recognize the role of small businesses in Rwanda’s road to recovery from the COVID-19 pandemic.
Afreximbank awarded “Sustainable Deal of the Year” for pioneering the Liquidity and Sustainability Facility
The African Export-Import Bank (Afreximbank) has been recognised with a much-coveted “Sustainable Deal of the Year” award for its pioneering work in the establishment and development of the Liquidity and Sustainability Facility (LSF), a vehicle that seeks to increase liquidity and demand for Eurobonds issued by African Sovereigns.
Cairo International Financial Center to be the most important financial center and the primary platform for venture capital funds in the Middle East.
The Trade Competitiveness and Market Access program (EUR 40 million) will focus on improving the overall trade competitiveness of COMESA member states, while seeking opportunities that come along with global challenges, such as climate change, and making trade more sustainable.
Dhamana will be domiciled in Kenya as a limited liability company with a regional mandate to provide credit guarantees on debt capital market instruments.
Proparco et Société Générale Sénégal renforcent leur partenariat en faveur de l’entrepreneuriat au Sénégal
Proparco renouvelle son soutien à un partenaire de longue date, en octroyant à Société Générale Sénégal une garantie de portefeuille « ARIZ » pour renforcer l’octroi de crédits aux TPE et PME.
Join us for an exclusive event launch, as we unveil Verto Atlas, the financial powerhouse for large corporations and enterprises in Kenya, hosted by Verto on Thursday 23rd November.
The transaction also reinforces Absa Mauritius’s commitment to expanding as an influential role-player in the Mauritian economy.
The proposed T. Rowe Price Emerging Markets Blue Economy Bond Strategy (T. Rowe Price Blue) is expected to mobilize international capital from eligible investors to support blue-labeled investments in emerging markets globally.
FSD accorde environ 2 milliards de riyals de prêts pour soutenir des projets de développement en Afrique
Le Fonds saoudien pour le développement accorde environ 2 milliards de riyals de prêts concessionnels pour soutenir des projets de développement en Afrique.
Looking ahead, the World Bank has announced it is fully committed to support Kenya in its journey to become an upper-middle-income country by 2030.
Stepping up their support for African partner countries ahead of the crucial COP28 climate change conference, the Arab Coordination Group (ACG) announced today that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent.
Plus de 1000 leaders financiers, décideurs politiques et régulateurs sont réunis pour relever des défis majeurs et créer une industrie financière de classe mondiale.
Afreximbank Avails UBA $150m Trade Finance Facility to Cushion Effect of Ukraine War on Customers.
The African Export-Import Bank (Afreximbank) today in Cairo launched an African Gastronomy and Culinary Arts Programme under its Creative Africa Nexus Initiative (CANEX).
Ecobank et African Guarantee Fund signent un accord de partage des risques de 200 millions de dollars
L'accord de partage de risque de 200 millions USD marque le troisième renouvellement du partenariat entre Ecobank et AGF.
The two organisations signed a strategic partnership agreement today on the sidelines of the Africa Financial Industry Summit (AFIS) in Lomé, Togo, in the presence of their respective leaders.
The Johannesburg Stock Exchange (JSE) has expanded its secondary listings framework by allowing secondary listings for companies primarily listed on the Hong Kong Exchanges and Clearing Ltd (HKEX).
Adding these licences strengthens Cellulant’s operations in Africa, where it has the most comprehensive payment infrastructure, integrating over 370 payment methods, operating in 35 markets with licences and physical offices in 19 countries.
IFC and Rand Merchant Bank partner with Liquid Intelligent Technologies to accelerate digital transformation in South Africa
The total investment of R900 million will support universal and affordable broadband access in the Eastern Cape Fibre Project.
Visa announced it has exceeded its three-year goal of digitally enabling 50 million SMBs globally by June 2023 and has now helped nearly 67 million SMBs.
Afreximbank commits $2 billion as partners sign agreement for export agriculture for food security initiative
Afreximbank, working with strategic partners and member countries, is facilitating the implementation of the ExAFS initiative by committing US$2 billion to boost production, processing and intra-African trade in agricultural products and provide African farmers and agribusinesses with opportunities to access larger markets across the continent.
Egypt and India have signed bilateral cooperation between the two countries that will help confront global economic challenges.
Afreximbank launches Intra-African EPC Contract Promotion Programme as IATF2023 hosts Presidential Summit
The African Export-Import Bank (Afreximbank) in Cairo launched a new initiative that will open doors, allowing African contractors to capitalize on various infrastructure investments available across the continent.
This strategic move further solidifies ATFX's global presence and strengthens its position as a key player in the online trading industry.
Join us for an exclusive event launch, as we unveil Verto Atlas, the financial powerhouse for large corporations and enterprises in Kenya, hosted by Verto on Thursday 23rd November.
[Column] Michael Muhangi: Africa’s continental integration offers opportunities for cross-border expansion
With the gradual elimination of political, economic, and regulatory barriers has come a need for financial institutions to adopt a strong trans-regional focus.
Yellow Card has become the first fintech on the continent to launch PayPal USD (PYUSD). This new stablecoin fromPayPal, issued by Paxos, will open new horizons for digital financial transactions between Africa and the United States.
Burundi and São Tomé expand Africa Finance Corporation membership to three-quarters of the continent
Despite significant macroeconomic headwinds, AFC has doubled its membership in the last five years, strengthening its mandate to resolve regional challenges and catalyze private sector-led infrastructure development across Africa.
Mediterrania Capital IV receives a €15 million from BII to support the Mid-Cap Segment in North Africa
Mediterrania Capital IV receives a €15 million commitment from British International Investment to support the Mid-Cap Segment in North Africa.
Les Market Days 2023 de l’Africa Investment Forum (AIF) ont suscité 34,82 milliards de dollars d’intérêts d’investissement pour des projets dans les infrastructures, l’agriculture, les soins de santé et les industries créatives.
Africa Finance Corporation (AFC), the continent’s leading infrastructure financier and solutions provider announced its support to the Arab Republic of Egypt as a Re-Guarantor on a private placement offering of JPY 75 billion, 5-year, Samurai bonds.
Africa Mobile Networks (AMN) announces the agreement with Starlink to connect AMN’s mobile network base stations with high-speed, low-latency broadband services, to serve even in the most remote and rural communities around the world.
Oikocredit, Goodwell Investments and Global Partnerships invest in Good Nature Agro to support southern African smallholder farmers.
Afreximbank presents platform to promote African participation in engineering, procurement and construction contracts
Addressing the workshop, Kanayo Awani, Executive Vice President, Intra-African Trade Bank at Afreximbank, said that the objective of the workshop was to promote African participation in large scale African infrastructure projects and to promote the award of EPC contracts to African entities.
As Intra-African Trade Fair (IATF2023) continues with attendees witnessing the signing of financing and other agreements valued in excess of one billion dollars between the African Export-Import Bank (Afreximbank) and several leading business entities from across the continent.
L’ AGF et Technoserve établissent un partenariat pour stimuler les investissements dans l’industrie du cajou
L’African Guarantee Fund(AGF) et Technoserve établissent un partenariat pour stimuler les investissements dans l’industrie Ouest-Africaine du cajou.
Private equity firm RMB Corvest, in partnership with BEE investment vehicle Shalamuka Capital, has acquired a minority stake in Switch Telecom, a Voice over Internet Protocol (“VoIP”) telecommunications service provider.
Stellantis devient actionnaire stratégique de Leapmotor avec un investissement de 1,5 milliard d’euros et développera l’activité internationale des véhicules électriques Leapmotor.
AGF and Gulf African Bank sign first shari’ah compliant credit risk guarantee scheme in Sub-Saharan Africa
African Guarantee Fund and leading Shari’ah-compliant financier Gulf African Bank (GAB) signed a credit risk guarantee facility to enable the bank’s SMEs access financing to support their growth.
IFC will become the first private sector-focused development financial institution globally to endorse the Buildings Breakthrough Target via its two climate innovations:
Mr. El Maayergi brings to this role over three decades of diverse experience, with 25 years dedicated to regional and multinational banking institutions, including Citibank, Standard Chartered Bank, and Société Générale.
New Alliance for Special Agro-Industrial Processing Zones commits $3 bn investment to boost African agriculture
The Alliance, comprising development financial institutions, the private sector and development-oriented technical partners, will also help streamline the development and delivery of SAPZ projects.