Payday, a Pan-African fintech startup announced it has joined Techstars Toronto Accelerator program.
Crop insurance is one of the major risk management strategies used by farmers to financially safeguard themselves from the potential failure of crops, due to climate risk or other uncontrollable natural hazards.
OPEC Fund extends $25 million credit facility to boost regional agricultural integration in Benin and Togo
The OPEC Fund for International Development has signed loan agreements with the governments of Benin ($15 million) and Togo ($10 million) to support the Regional Program for the Integration of Agricultural Markets
Pan-African digital payments hub MFS Africa signed an agreement to acquire Baxi, one of Nigeria's super-agent networks. The deal, which is subject to approval from the Central Bank of Nigeria, will be the second highest fintech acquisition in Nigeria to date.
The African Export-Import Bank (Afreximbank) and the Government of Barbados have signed a Memorandum of Understanding (MoU) to expand trade and investment links between Africa and the Caribbean island state.
[Africa Tech Review] Duncan Mochama: Fintech startup Wapi Pay founders Eddie and Paul Ndichu step down from their roles
This has been a very interesting week in tech in Africa. We covered a number of great announcements from a number of tech companies in the region, especially startups.
Le Groupe Ecobank se mobilise pour la santé mentale dans le cadre de son engagement pour une meilleure santé
le Groupe Ecobank va célébrer sa neuvième Journée Ecobank, l'événement annuel phare du Groupe en matière de responsabilité sociale et d'entreprise, qui permet de « redonner » aux communautés locales à travers son réseau panafricain
ITFC signe un accord de financement de 100 millions d’Euros pour soutenir le secteur sénégalais de l’énergie
ITFC signe un accord de financement de 100 millions d’Euros avec la SENELEC pour l'achat de produits pétroliers raffinés et aura donc un impact direct sur la production, la transmission et la distribution d'électricité à travers le pays.
Brass, a Nigerian digital bank delivering easy access to affordable premium banking services for small and medium-sized businesses (SMEs), has today secured $1.7mn in funding.
In a country-first for Malawi, mobile money service provider TNM Mpamba has launched a Mastercard debit card, enabling its customers – even those without bank accounts – to make safe and seamless in-person and online digital payments on the Mastercard network.
Mondia Digital has integrated all of its technology, content and services into the easy-to-use VodaPay Super App environment. It is also responsible for connecting third-party content providers into this ecosystem.
The African Development Bank announced the appointment of Bajabulile “Swazi” Tshabalala as Senior Vice President, effective 1 November 2021.
The African Development Bank (AfDB), signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into factors hampering access to finance for women in northern Nigeria.
NetSuite customers will be able to automate accounts payable, accounts receivable and reconciliation processes, making it fast and simple to pay bills, send invoices, get paid and gain full cash flow visibility, all from within a unified system.
alsoug, the digital classifieds and marketplace in Sudan, has announced the close of a $5 million fundraise to establish a national payments network enabling quick, easy and safe transactions for all Sudanese.
The Series A investment enables Asante to scale its credit offerings to the underserved segment of MSMEs in Kenya and Uganda, and expand to Nigeria and Rwanda.
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for women entrepreneurs in Egypt, with a loan of €4.3 million to Reefy Microfinance Enterprise Services, the country’s first licensed microfinance institution.
With this capital, Summit will direct investments to small and medium-sized enterprises (SMEs) in rural and peri-urban areas across South Africa, focusing on the education, healthcare, and financial services sectors.
This comes on the back of the review of its rules to provide the flexibility to implement diverse Market Making programmes across all asset classes listed on The Exchange, as approved by the Securities and Exchange Commission
To mark World Food Day the GE Foundation announced a donation of $100,000 USD to provide immediate relief to South Africa’s communities experiencing food insecurity.
According to the Global System for Mobile Communications (GSMA) 2021 State of the Industry Report on Mobile Money, the number of registered mobile money accounts grew by 12.7% globally in 2021 to 1.21 billion accounts
A new initiative by the United Nations Economic Commission for Africa (ECA) is supporting African cities to measure their gross domestic product (GDP) – a vital economic well-being indicator.
IFC and Egypt's National Council for Women signed an agreement that will help increase women's economic participation, including by boosting their access to bank lending, promoting equal pay, and providing more flexible work options.
Mali a couvert deux cycles de reconstitution du Fonds africain de développement (FAD), le FAD-13 (2014-2016) et le FAD-14 (2017-2019).
Payday, a Pan-African financial technology company has raised one million dollars to build out what they believe will be the “PayPal” for Africa.
Volante Technologies, the global player in cloud payments and financial messaging, has announced a partnership with MDSL, a specialist in the integration of turnkey banking solutions in the Middle East, to enhance and automate banking payments in Egypt.
The African Development Bank announced a 36-month debarment of Sino-Kenya Engineering Group Company and Yuehua Bai, its Managing Director, for fraudulent practices in Kenya.
Mobile transacting is fast becoming the golden egg of financial services – and nowhere more so than in Africa.
La SID accorde un financement de $50 millions en faveur de la compagnie ALAFCO Aviation Lease and Finance
La Société islamique pour le développement du secteur privé et la compagnie ALAFCO Aviation Lease and Finance ont signé un accord de financement syndiqué garanti de quatre ans pour 75 millions USD avec une participation de 50 millions USD de la part de la SID.
Les Global Islamic Finance Awards ont nommé l'ITFC la meilleure institution islamique de financement du commerce lors de l'édition 2021 des Global Islamic Finance Awards.
After extensive research and continuous development, Centurion Law Group has launched the Africa Investment Guides series in Nigeria, developed to serve as the African countries’ guide in reflecting and navigating through tough economic times.
CDC is committing approximately $320 million initially and expects to invest up to a further $400 million over the next several years. The transaction is subject to certain final regulatory approvals.
Pan-African fintech startup Carbon partners with Network International to boost digital payment offering
Under the agreement, Network International will issue and process physical Visa debit cards on behalf of Carbon, enhancing the bank’s offering to customers.
AfricaNenda, an emerging and independent Africa-led coalition of dedicated digital payments experts on Thursday launched a new digital financial inclusion advisory platform aimed to expand financial access in the continent
Sanlam, Africa’s non-banking financial services group, and Absa, one of Africa’s diversified financial services groups, announced they have reached an agreement to combine their investment management businesses.
AfricInvest, a Pan-African asset management platform covering Private Equity, Venture Capital, and Private Credit, announced the acquisition of a minority stake in the Nigerian insurance company Royal Exchange General Insurance Company (REGIC).
The Capital Markets Authority (CMA) extended the provisional licenses granted to four coffee brokers by a further 30 days from 30 September 2021, in line with the Capital Markets (Coffee Exchange) Regulations, 2020.
The African Development Bank announced a 36-month debarment of Express Automation, a limited liability company, for fraudulent practices in Kenya.
The Government of The Arab Republic of Egypt, acting through the Ministry of Finance has announced the launch of its debut Syndicated ESG Term Loan and Islamic Term Financing Facility.
Le Groupe de la Banque africaine de développement a annoncé, jeudi, l’exclusion, pour une durée de 36 mois, de la société Express Automation Limited pour pratiques frauduleuses.
MTN Group announced the appointment of Benjamin Adekunle Awobodu as the new Chief Financial Officer (CFO) for Digital and Fintech.
[Africa Tech Review] Duncan Mochama: Teraco completes first phase of its Cape Town hyperscale data centre campus
This week, the firm announced the completion of Phase 1 of CT2, its new hyperscale data centre in Brackenfell, Cape Town – the largest data centre in the Western Cape.
Afreximbank's FEDA enters Joint Venture agreement with Gateway Partners to co-establish the Africa Credit Opportunities Fund
The Afreximbank announced that the Fund for Export Development in Africa (FEDA), its development impact-oriented subsidiary, has entered into a Joint Venture arrangement with Gateway Partners (Gateway) to co-establish the Africa Credit Opportunities Fund.
Mastercard has partnered with Zambian-based fintech company, Digital PayGo, to launch a new merchant mobile payments solution for SMEs
CDC commits $100m to African Development Partners III to fuel medium-sized and large companies in Africa
CDC Group, UK’s development finance institution and impact investor announced a $100 million commitment to African Development Partners III, advised by Development Partners International LLP (DPI), a pan-African private equity firm.
Facebook announced the winners of the 2021 Facebook Community Accelerator Program, highlighting the 13 Facebook community leaders Africa who will receive up to $50,000 USD in funds.
Les services du FMI achèvent leur mission de consultations de 2021 au titre de l’article IV en Algérie
La mission recommande un ensemble complet et cohérent de politiques budgétaire monétaire et du taux de change afin de réduire les vulnérabilités de l’Algérie.
M. Hani Salem nommé directeur général en finance commerciale islamique lors des Global Banking & Finance Awards 2021
Ces prix récompensent le rôle stratégique que joue le directeur général de l'ITFC dans les secteurs bancaires et financiers en Arabie Saoudite et au Moyen-Orient, en constante évolution, dans un contexte de pandémie de Covid-19
Untapped Global, an investment company focused on emerging markets, announced a scale up of its partnership with Paga, the mobile payment and financial services company, to finance point-of-sale devices (POS) for merchants in Nigeria.
Smallholder farmers and rural cooperatives across Zambia will benefit from a new €30 million initiative from Zanaco and Team Europe to accelerate agricultural investment launched in Lusaka and Luxembourg .
Angola has signed a Memorandum of Understanding (MoU) with Sun Africa and U.S.-based AfricaGlobal Schaffer for a $1.5 Billion mini-grid project to supply solar electricity and drinking water in Angola.
With climate change and the reduction in greenhouse gas emissions a key topic in global energy dialogue, stakeholders and policymakers have been engaging in a debate on the role of natural gas in the world’s energy future.
Fitch Ratings has affirmed United Bank for Africa (UBA) Plc's Long-Term Issuer Default Rating (IDR) at 'B'. UBA's National Short-Term IDR has also been upgraded to 'F1+(nga)' from 'F1(nga)', reflecting the bank's continuing solid funding.
Customers of KCB Bank Kenya, the Diamond Trust Bank (DTB) and the Kenya Post Office Savings Bank (Postbank), can now enjoy an easy and convenient way to send cross-border money transfers, with the launch of Western Union’s digital money transfer services on their respective mobile banking apps.
Forum pour la résilience en Afrique pour affronter les défis multiformes du Covid 19 et du changement climatique
La quatrième édition du Forum pour la résilience en Afrique s’est ouverte à un moment où les communautés les plus vulnérables du continent sont confrontées au triple défi posé par la pandémie de Covid-19
Proparco, a subsidiary of ‘Agence Française de Développement’ (AFD) and its German counterpart DEG, signed a loan agreement for an amount of €25 million in favour of BCP Bank (Mauritius).
MarketForce, the Kenya and Nigeria-based B2B platform for retail distribution of consumer goods and digital financial services in Africa, announced the appointment of Arthur Bourekas as the Chief Commercial Officer, effective 1st October 2021.
South African fintech firm Ukheshe partners with Chipper Cash to accelerate rollout out of digital payment offerings
South African fintech firm Ukheshe Technologies has partnered with Chipper Cash to enhance and accelerate the rollout out of Chipper’s digital payment offerings.
Necessity prevailed and most South Africans embraced e-commerce, becoming more comfortable with digital payments and financial services.
The African Export-Import Bank (Afreximbank) and AfCFTA Secretariat announced the operational roll-out of the Pan-African Payment and Settlement System (PAPSS), a revolutionary Financial Market Infrastructure to enable instant, cross-border payments.
The OPEC Fund is participating in Mauritius Commercial Bank’s (MCB) $1 billion syndicated term loan facility for an amount of $42.5 million.
Le Projet d’appui à la production vivrière et de renforcement de la résilience dans les départements de l’Alibori, du Borgou et des Collines, est en bonne voie.
EMURGO, the official commercial arm of the Cardano blockchain, announced the launch of a new Cardano ecosystem investment vehicle to invest into early startup and growth stage companies focused on building socially impactful solutions powered by Cardano.
The capital will support the continued growth of the ICT sector in the continent, helping to boost development of necessary infrastructure and providing rural and underserved communities with access to affordable mobile connectivity.
Africa's crypto exchange Yellow Card raises $15m Series A funding to fuel expansion across the continent
Pan-African cryptocurrency exchange, Yellow Card, announced a $15 million Series A, the largest ever by an African cryptocurrency exchange, to ramp up hiring and continue its expansion across the continent.
African Development Bank adopts new policy to strengthen accountability, support people affected by its operations
The African Development Bank approved a new policy framework for the Independent Recourse Mechanism (IRM) aimed at strengthening accountability and providing more effective recourse to people affected by Bank-financed operations.
The new office covers the Economic Community of Central African States (ECCAS), composed of Cameroon, the Central Africa Republic, Chad, Congo, the Democratic Republic of Congo, Equatorial Guinea and Gabon.
Kenya’s President Uhuru Kenyatta has challenged global financial institutions to ramp up investments in agriculture as part of their support for African economies.
Financial services in Africa such as banks and insurance firms are beginning to embrace cloud as they seek to modernize their solutions.
Le vice-présidente chargée de l’Agriculture et du Développement humain et social, s’est rendue à Yamoussoukro afin d’évaluer les avancées du Projet de pôle agro-industriel dans la région du Bélier
Every Savings and Credit Cooperative (SACCO) that has digitized its operations can attest to the efficiency that comes with such a move. Digitization helps to enhance productivity in SACCOs and improves service delivery to members.
World Bank approves financing to improve women and girl’s access to nutrition and health services in Niger
The Nigerien government will be able to provide its population with better health coverage with financing approved by the World Bank.
The African Development Fund approved a loan of around $116 million to the Tanzanian government to upgrade a 160-km Mnivata-Newala-Masasi road corridor in the southern part of the country.
As part of this technical assistance program, IFC will support ACAPS in the development of a roadmap to accelerate the digital transformation of the insurance sector, and thus benefit from the rapid development of the digital economy. on the continent.
This week, the Federal Government approved the deployment of the Fifth Generation Network, 5G, in Nigeria. In South Africa, MTN this week became the first mobile operator in Africa to provide access to 5G technology to customers from the Philippines
Nigerian fintech startup Infibranches secures $2m funding from All On to drive growth in the renewable energy sector
Shell-funded impact investment company All On announced a $2 million investment in fintech company, Infibranches Technologies, to help bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria.
The guarantee facility will enable Co-op Bank, on the one hand to strengthen its commitment to financing Micro, Small and Medium-Sized Enterprises (MSMEs), and on the other to promote emerging corporates in Kenya that are involved in green energy and solar installation projects.
Yabx, a fintech venture offering credit products across 12 countries in Africa, has announced the appointment of Eunice R. Gatama as Director for Africa Business.
Social impact investor Oikocredit invested $500,000 in Victory Empowerment Centre, an NGO focused on improving the living conditions of disadvantaged women through innovative and flexible microfinance services.
Sidian Bank, a mid-tier bank focusing on SMEs in Kenya, has signed a $9 million million deal with the Netherlands based social impact investor, Oikocredit.
IBM has announced that major financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately broadening access to financial services on the continent.
U.S. Development Finance Corporation (DFC), has invested $10 million in Nithio's Financial Intermediary, Nithio FI, an AI-enabled clean energy financing platform, to scale clean energy financing in Africa.
Pan-African housing development financier Shelter Afrique has fully paid commercial debts owed to eight lenders, giving the company the leverage to underwrite new debt.
Control Risks, le spécialiste mondial de la gestion des risques, et Oxford Economics Africa, ont annoncé aujourd’hui le lancement de la sixième édition de leur « Africa Risk-Reward Index ».
La Banque Africaine de Développement trace les grands axes du Document de stratégie-pays pour 2022-2026
Malgré la crise liée à la pandémie de Covid-19, les perspectives économiques restent favorables au Burkina Faso, selon la note de diagnostic-pays publiée le 13 septembre dernier par la Banque africaine de développement.
Key financial institutions, developers commit to joint action to speed up Special Agro-Industrial Processing Zones in Africa
The African Development Bank’s Special Agro-industrial Processing Zones (SAPZ) initiative can trigger a fundamental change in Africa’s economic transformation, partcipants at the first partnership meeting for agro-industrialization said.
African Development Bank debars Rockey Africa Limited, its affiliates and CEO for fraudulent practices
The African Development Bank Group has announced the 18-month debarment of Rockey Africa Limited and its affiliates including Aerospace Aviation, Eva-Top Agencies, Sony Commercial Agencies, Beta Trading Company and Madujey Global Services.
Mastercard - through the Center for Inclusive Growth, launched Strive, a global initiative focused on strengthening the financial resilience of small businesses and supporting their recovery and growth.
African Asset Finance Company appoints Stephen Hackett as Senior Vice President of Structured Finance
African Asset Finance Company Inc., AAFC, a U.S.-based non-bank financial and equipment leasing firm, has hired Stephen “Steve” Hackett as Senior Vice President of Structured Finance.
CDC commits over $50m to expand digital infrastructure, boost rural connectivity across sub-Saharan Africa
CDC Group, the UK’s development finance institution (DFI) and impact investor, has announced commitments totalling $50.9 million to expand digital infrastructure, boost rural connectivity and accelerate digital technology access.
CDC Group, the UK’s development finance institution (DFI) and impact investor, has made a $60 million commitment under its African Private Credit Fund Strategy, which aims to address a significant credit market dislocation.
JBA Flood Risk Management announced its collaboration with Reinsurance Solutions Intermediary Services (RSIS), an African-based reinsurance broker that will use the JBA global flood modelling capability to provide flood risk analytics.
Orange selects Ericsson to ramp-up its mobile money service and accelerate financial inclusion in Africa
Orange Middle East and Africa has selected Ericsson as a strategic partner for its pan-African Orange Money service, tapping Ericsson’s Wallet Platform to accelerate financial inclusion for its customers across fourteen African countries.
Un meilleur accès à l’eau a changé la vie des réfugiés et des communautés d’accueil en leur offrant de nouvelles opportunités.
[Kenya] Equity Bank granted global certifications On IT Service and Information Security Management Systems
ISO 20000 shows that the Bank’s service management system is robust enough in the delivery of all IT-related services and is also aligned with its current and future needs.
The African Development Bank has launched a new program that aims to accelerate the integration of natural capital in the financing of Africa's development.
La Société Internationale Islamique de Financement du Commerce (ITFC) a signé dix accords majeurs de financement du commerce d'une valeur de plus de 1,2 milliards de dollars US avec ses pays membres d'Asie et d'Afrique
Le Centre mondial pour l’adaptation (GCA) et la Banque africaine de développement ont lancé la première édition d’un concours « Défi des solutions d’adaptation pour les jeunes Africains »
This week, Facebook announced a new partnership with Big Cabal Media and Comic Republic to launch a new campaign against fake news in Nigeria.
Is the corporate goal of an organisation solely to return a profit to its shareholders, or should it be purpose-driven and respond to wider societal needs at the expense of robust profits?