Saudi Arabia’s largest mining company, Ma’aden, will make its first international acquisition with the purchase of an African Fertilizer distribution company.
The KCB Group has made an offer to acquire 100% of the ordinary shares of National Bank of Kenya (NBK).
NIC Group has announced that during the Annual General Meeting held on Wednesday, 17th April 2019, its shareholders overwhelmingly approved the merger with Commercial Bank of Africa (CBA).
South African-based Bitcoin company, Centbee, has announced that it has closed its Series A round with entrepreneur Calvin Ayre, founder of Antigua-based investment firm, Ayre Ventures and CoinGeek.
Seedstars has announced a new partnership with Paris-based First Growth Ventures to launch a $100 million fund to invest in African tech startups.
MEST Africa, the Pan-African entrepreneurial training program, seed fund and incubator, has officially announced its fourth annual MEST Africa Summit, in collaboration with Microsoft.
The Nairobi Securities Exchange (NSE) has admitted Vehicle and Equipment Leasing Limited (VAELL) onto its premium incubation and acceleration program, Ibuka.
The Nairobi Securities Exchange (NSE) has admitted Myspace Properties onto Ibuka, NSE’s incubation and acceleration program.
Vantage Capital, Africa’s largest mezzanine debt fund manager, has announced that it has fully exited its investment in Thebe Timrite.
Daystar Power has closed a $10 million investment with Verod Capital Management and Persistent Energy Capital LLC to accelerate its expansion across West Africa.
Africa Oil announced that it has acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas ("Eco") (TSXV:EOG or LSE:ECO) for US$1.05 per common share for a total consideration of US$4,999,998.
[South Africa] New Development Bank outlines ambitious plans to boost loans, increase investment impact
The New Development Bank plans to almost double its loan book to USD 16 billion this year and increase its impact, as it seeks to broaden its global development partnerships.
Mettā Nairobi in Partnership with What Design Can Do (WDCD), Social Enterprise NL and IKEA Foundation has announced the launch of Clean Energy Accelerator Program.
African tech startups raised a total of US$1.163 billion in equity funding in 2018. This is according to the Partech Africa annual report on the financing of African Startups.
UK-based social impact investor AgDevCo has closed a $3 million mezzanine loan with Minimex Limited, a maize milling company.
IFC has launched a program to support the development of Egypt’s fintech space that will help startups extend crucial financial services.
Oando, Nigerian indigenous energy group, has divested its residual 25% interest in Axxela Limited to Helios Investment Partners, a private equity firm with a focus on investments in Africa.
The Africa Netpreneur Prize Initiative (ANPI) has officially opened applications for African entrepreneurs from all countries, sectors and age groups.
In line with the targets set out in the Capital Market Master Plan, CMA has established a Financial Markets Law Review Panel of 16 leading domestic and international financial market lawyers and practitioners.
European Investment Bank invests $15 million in Africa Industrialization Fund to support growth capital investments
The European Investment Bank has signed a commitment of $15 million with the SPE Africa Industrialization I Fund, targeting growth capital investments in SMEs and mid-market companies.
CISI will join Agency UMOA Titres and FSDA to create a financial licensing certification system to raise financial sector capability and educate practitioners in the eight countries of the West African Monetary Union.
[South Africa] SARB imposes sanctions on three Authorised Dealers in foreign exchange with limited authority
The South African Reserve Bank (SARB) has imposed administrative sanctions on three Authorised Dealers in foreign exchange with limited authority (ADLAs).
The Nairobi Securities Exchange (NSE) has admitted Bluenile Rolling Mills Limited onto Ibuka, NSE’s incubation and acceleration program.
Starting your own business can be a very rewarding thing to do. Freeing yourself from the tedium of a 9 to 5 job and being able to be your own boss and make your own decisions can be liberating.
AfDB approves $20 million investment in Uhuru Growth Fund, building regional champions across West Africa
The African Development Bank, AfDB, has approved a $20 million equity investment in Uhuru Growth Fund 1, a first-generation fund sponsored by Uhuru Partners Limited.
The Monetary Policy Committee retained the Central Bank Rate at 9.00 percent as at March 27, 2019.
The Board of the Capital Markets Authority has approved the Regulatory Sandbox Policy Guidance Note setting the stage for CMA to begin accepting applications for admission of fintech firms to its Regulatory Sandbox.
The Nairobi Securities Exchange (NSE) has admitted Moad Capital as the third company to join Ibuka, NSE’s incubation and acceleration program.
Africa-focused Ampion and Berlin-based Plutos Ventures Holding have together founded Ampion Ventures, the goal of which is to build scalable digital business models in selected African countries.
Google has announced the 12 African startups that will take part in its third Launchpad Accelerator Africa programme
The Chartered Institute for Securities & Investment (CISI) has announced the launch of its Nigerian National Advisory Council (NAC).
IFC is partnering with GSE and over 70 other stock exchanges around the world to “Ring the Bell for Gender Equality”, an initiative that will seek to promote increased women’s participation in the global economy.
The Capital Markets Authority (CMA) has approved the listing of the MAkiba Retail Infrastructure Bond – Issue No. MAB2/2017/3 Re-open 1, on the Nairobi Securities Exchange (NSE) reporting a 79% subscription rate.
[Kenya] Blockchain Startup CapAgri selected into æternity Ventures’s 2nd Starfleet Accelerator Program
Kenya’s CapAGRI Africa has been selected among the most-promising seed stage blockchain startups from around the world to take part in æternity Venture’s ‘Starfleet’ Accelerator Programme.
The Financial Inclusion Initiative at Omidyar Network has announced the launch Flourish, a new venture firm focused on backing fintech entrepreneurs in emerging markets.
Sanlam has announced that it has agreed to the pricing of the Broad-based Black Economic Empowerment (B-BBEE) Transaction announced in October 2018.
The Nigerian Stock Exchange and Meristem Securities Limited have announced the launch of two new style indices, the NSE-Meristem Growth Index and NSE-Meristem Value Index.
Azuri Technologies, a player in pay-as-you-go solar in Africa and crowdfunding platform Energise Africa have announced the latest phase of debt financing from UK impact investors.
[South Africa] Sanlam remains resilient amid challenging operating environment, Sanlam annual results
Sanlam’s 2018 annual results provides testimony to its resilience amid challenging operating conditions and negative investment markets as it announced its operational results for the 12 months ended 31 December 2018.
The Mastercard Foundation Fund for Rural Prosperity (FRP) today announced that five companies will receive a total of US$4,438,551 to support its financial inclusion agenda in Africa.
Naspers has confirmed the successful unbundling of its shares in MultiChoice Group (MCG) to Naspers shareholders following the listing of MCG on the Johannesburg Stock Exchange (JSE) on 27 February 2019.
Stanbic Holdings posted KSh6.3 billion profit after tax last year, a 46 percent growth from the previous year’s KSh4.3 billion, driven by growth in customer loans and deposits.
TeamApt, a Nigerian fintech company that provides digital solutions and payment infrastructure for Africa, has closed on a $5.5M Series A round, led by Quantum Capital Partners.
MultiChoice Group which comprises of MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto has listed on the JSE's Main Board, the first JSE listing in 2019.
The NSE in conjunction with Fund Managers Association of Nigeria; Association of Stockbroking Houses of Nigeria and The Central Securities Clearing System, have launched the NSE Mutual Fund Trading and Distribution Platform.
The National Treasury, the Central Depository and Settlement Corporation and the Nairobi Securities Exchange have jointly re-opened the M-Akiba Retail Infrastructure Bond Issue No 2/2017/03 re-open one of March 2019.
mSurvey, Africa’s Integrated Customer Experience company connecting businesses to their customers in real-time, has announced follow-on investment by private sector financing institution Proparco.
In July 2009 the South African Revenue Services (SARS) introduced section 12J of the Income Tax Act to encourage ordinary taxpayers to invest in small, medium and micro-sized enterprises (SMMEs).
Jack Ma’s US$10 MillionThe Africa Netpreneur Prize Initiative (ANPI) will officially call for applications starting from the 27th of March 2019.
The Nairobi Securities Exchange (NSE) has admitted APT Commodities Limited as the first company to join the Ibuka Program; NSE’s incubation and acceleration program.
Investisseurs & Partenaires reaches €75 million funding mark, targets 30 Sub-Saharan Africa companies by 2020
The impact investing group Investisseurs & Partenaires carried out the intermediate closing of its fund I&P Afrique Entrepreneurs 2 (IPAE 2), reaching a total amount of 75 million euros.
A2X has been authorised to secondary list exchange traded funds (ETFs) and exchange traded notes (ETNs) on its platform.
The Capital Markets Authority (CMA) has published the first State of Corporate Governance Report based on an assessment of 56 issuers of securities to the public in 2017/18.
Shortlist has raised $2 million series A led by Blue Haven Initiative, with participation from Compass Venture Capital, existing investor Zephyr Acorn, and several others.
African Infrastructure Investment Managers (AIIM) has announced the appointment of Wanjiku Mugane as a Senior Advisor in Kenya.
South African based Artificial Intelligence Software & Solutions provider Cortex Logic has secured growth investment to expand it’s reach to new clients in Europe and USA.
The Egyptian Exchange has started activating the MoU with Tunisian Stock Exchange in preparation for the 17th Joint High Committee Meetings which will be hosted by Tunisia in the first quarter of 2019.
In its quest to support the transformation of the capital markets in Kenya through nurturing innovation, the Capital Markets Authority (CMA) has joined the Global Financial Innovation Network (GFIN).
Fabrice Nze-Bekale is an experienced investment banker with a working history in investment banking, telecoms and the mining & metals industries. He is currently the Managing Partner of the pan-African firm, ACT Afrique.
Platinum-group metals and chrome co-producer Tharisa, has been approved to begin trading its shares on the A2X exchange in South Africa.
South African venture capital firm Kalon Venture Partners has announced a lead investment of $1,465,400 in local proptech platform Flow, an app that rewards tenants for good behaviour.
South Africa’s largest general insurer Santam, will effect a secondary listing of its shares on the A2X Markets exchange come February 1, 2019.
The Nigerian Stock Exchange (NSE) and Afrinvest Securities have announced the launch of two new factor indices: the NSE-Afrinvest Banking Value Index and NSE-Afrinvest High Dividend Yield Index.
Securities regulators in Africa and Middle East to collaborate and increase listings in the region and mitigate shared risks
Securities regulators in Africa and Middle East have approved a joint project with FSDA to develop strategies to increase listings and the uptake of capital markets products in the region.
[Kenya] Andela Secures $100M Series D to build distributed engineering teams and power the future of work
Andela, the company building distributed engineering teams with Africa’s top software developers, today announced the completion of a $100M Series D funding.
African innovators excelled at this year’s Zayed Sustainability Prize annual awards ceremony on January 14 2019, winning in three out of five categories including Energy, Food and Global High Schools.
CDC, the UK’s development finance institution, has announced a new investment designed to support high-growth SMEs in Nigeria.
The Board of Directors of the African Development Bank Group has approved an equity investment of up to $ 25 million in ARCH Africa Renewable Power Fund.
The Egyptian Exchange (EGX) has finished the process of developing the methodology of entering the listing companies into EGX 30 index, as per its attempts to increase the efficiency of all market indices.
South Africa's Global Credit Ratings (GCR) has clarified that it is still operating in Kenya and is not contemplating a withdrawal.
[South Africa] Naspers to separately list MultiChoice and unbundle its shares to Naspers shareholders
Naspers has announced of its intention to list its video entertainment business separately on the JSE as MultiChoice Group and simultaneously unbundle its shares in this business to Naspers shareholders.
Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has appointed Ms. Arunma Oteh to its Board of Directors as a Non-Executive Director.
Nigeria’s NEM Insurance Plc has announced that Advanced Finance and Investment Group has completed an investment in the Company, by acquiring 29.9% of the Company’s shares.
African tech startups have invited to present their ideas to experts, investors and the media at the Airbus BizLab #Africa4Future open day to be held in Nairobi.
African Infrastructure Investment Managers acquires stake in BBOXX as it expands to off-grid solar market
African Infrastructure Investment Managers has acquired through its African Infrastructure Investment Fund 3 a minority stake in BBOXX’s operations in East Africa.
[Kenya] Lendable closes second round of asset-backed pass-through notes with institutional investors to expand access to credit across sub-Saharan Africa
Lendable, Inc. has announced the closing of an innovative secured dual tranche 36-month note program, called Multi-Originator Segregated Portfolio 2, or “MOP2”.
MEST Africa has opened applications for its second annual MEST Africa Challenge, a Pan-African pitch competition for scale-ups based in Ghana, Nigeria, Kenya, South Africa or Cote d’Ivoire.
Digital lender Branch International has today announced its largest commercial paper issuance to date, raising Ksh500 million, following a Ksh350 million issuance in 2018 and a Ksh200 million issuance in 2017.
The Ghana Stock Exchange (GSE) has decided to compulsorily de-list Pioneer Kitchenware Limited (PKL) from the Main Equity Market of the Exchange.
Impact investor AgDevCo has invested in Kuapa Kokoo Limited, the only licensed cocoa buying company in Ghana which is owned by a cooperative of Ghanaian smallholder cocoa farmers.
The Ghana Stock Exchange (GSE) has announced that Aluworks Limited (ALW) and Cocoa Processing Company Limited (CPC) have been taken off the GSE’s “Watch List”.
US has reiterating its commitment to strong partnerships with key countries in Africa, specifically naming Kenya as a target for future US aid and investment.
Catalyst Principal Partners, a Nairobi-based private equity firm has acquired three top tier mattress manufacturers in Uganda, Malawi and Kenya.
Africa’s 50 most funded tech companies in 2018 raised a total of $618M according to the Digest Africa INDEX, an annual report that summarises Africa’s technology investment landscape.
Villgro Kenya has invested $80,000 each in Maisha Meds and Turaco, two companies working to improve health access for low-income Kenyans.
Uganda-based solar energy company SolarNow has raised $9 million in debt arranged by SunFunder, a longtime debt financier for the company alongside co-lenders responsAbility and Oikocredit.
In a bid to protect investors, Capital Markets Authority (CMA) has cautioned the public against participating in any initial coin offering or trading in any coin exchange offered by Wiseman Talent Ventures.
Pay-as-you-go solar and finance company M-KOPA has raised funding from Japanese multinational, Sumitomo Corporation to empower homes and small businesses.
Africa Oil Corp. (AOC) has made further investments of $20.5 million in Impact Oil and Gas Limited ("Impact"), a private UK company with exploration assets in South and West Africa.
The Capital Markets Authority (CMA) has announced the publication of a draft Regulatory Sandbox Policy Guidance Note which will facilitate the admission of fintech firms to a Regulatory Sandbox.
The Capital Markets Authority (CMA) has announced the grant of Kenya’s first Money Manager license to Standard Investment Bank (SIB) Limited to operate in the online foreign exchange trading space.
Naspers, a global internet and entertainment group headquartered in Cape Town, South Africa has led a combination primary and secondary US$540 million investment in edtech company BYJU’S.
Kipeto Energy Ltd has announced it has reached financial close following the acquisition by leading growth markets investor Actis.
The Board of Access Bank announced it has signed a Memorandum of Agreement with Diamond Bank regarding a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers.
The Nairobi Securities Exchange (NSE), has launched an incubation and acceleration board called Ibuka.
The public and private sectors have this week recorded heightened activities with partnerships, trade and capital markets dominating headlines.
More than a year and a month after insurance tech startup Pineapple raised R5.2m from Lireas Holdings, the strategic investment arm of Hannover-Re Group Africa, the startup has now been accepted into The Hartford Insurtech Hub.
[Nigeria] TechCrunch Startup Battlefield Africa 2018 highlights achievements of top innovators and startups in Africa
M-SCAN, a company that develops portable mobile ultrasound devices, was crowned as Sub-Saharan Africa’s Most Promising Startup at TechCrunch Startup Battlefield Africa 2018, held in Lagos, Nigeria.
4 Africa Exchange Proprietary Limited (4AX) confirms that the exchange is moving to a shortened trading times (T+0) settlement cycle, further strengthening the 4AX value proposition.
Following the release of the Regulatory Review Consultation Paper for public comment in September, the Johannesburg Stock Exchange (JSE) is pleased with the market response and will release the proposed amendments early in 2019.