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.
Sirius Petroleum, the Nigeria-focused oil and gas development and production company, has entered into a conditional sale and purchase agreement with Precision Energy Group (“PEG”) to acquire a 75% shareholding.
BK Group PLC has cross-listed on the Nairobi Securities Exchange (NSE) becoming the first Rwandan company to tap into the Kenyan Capital Market.
Vantage Capital, Africa’s largest mezzanine fund manager, has announced that it has provided €19 million of mezzanine funding to Pétro Ivoire, a leading distributor of oil & gas products in Côte d’Ivoire.
A draft report by the United Nations Economic Commission for Africa (ECA) titled, “Attracting Institutional Investors in Africa’s Infrastructure,” has undergone a thorough review by experts from wide-ranging sectors.
Quantum Terminals Group (QTG), a leading energy infrastructure developer in Ghana, has listed a corporate bond on London Stock Exchange’s International Securities Market.
Digital payments platform BitPesa raises $5m from Sompo Holdings to revolutionize cross-border payments
Kenya’s BitPesa has raised $5m from Japanese insurance group Sompo Holdings in a move expected to revolutionize cross-border payments and insurance services globally.
Mobile phone data-driven financial platform Port It Global Inc has closed a Seed round of funding led by Energy Access Ventures (EAV) to drive market expansion in Africa and South America.
SecuritEase is pleased to announce that it has implemented its multi-market, multi-currency settlement system at Investec Securities to clear and settle both principal and agency trades executed on the A2X market.
Gulf Capital and AfricInvest, a pan-African mid-cap-focused private equity firm, have partnered to provide a $51m structured loan and equity investment to iSON Xperiences.
The Chartered Institute for Securities & Investment announced a new partnership with The Nigerian Stock Exchange to provide training for CISI’s qualifications in Nigeria, under the auspices of X-Academy.
The Johannesburg Stock Exchange (JSE) has announced and celebrated the listing of Motus Holdings, a leading automotive group in Southern Africa, on the Main Board.
The Royal Academy of Engineering has announced the 16 African startups that have been shortlisted for the Africa Prize for Engineering Innovation.
South African venture capital firm Knife Capital has announced the twelve African startups that will take part in its fourth Grindstone Accelerator programme.
A new majority black controlled private equity fund, New Seasons Investment Fund, has been launched following the merger of two private equity fund companies – New Seasons Investment Holdings and Nodus Equity.
[South Africa] Fintech FinChatBot secures $500,000 investment from Compass VC, Kalon Venture Partners
South African venture capital firm Kalon Venture Partners and Mauritius-based Compass Venture Capital have announced their co-investment into one of the leading financial services chatbot providers, FinChatBot
AfricaCom is Africa’s largest tech, media and telcos annual festival where digital Africa interacts, learns, debates and ultimately make deals.
IFC, a member of the World Bank Group, TLcom, and the Global Agriculture and Food Security Program (GAFSP) have announced a $10 million investment in Twiga Foods.
RENEW and members of the Impact Angel Network (IAN) have closed an investment in ET Fresh, LLC.
Vumatel and Tsebo, two companies funded by Vantage Capital, were recognized as the best medium-size and large-size private equity-backed South African growth champions respectively.
In the recent years, South Africa has continued to prove that it is one of the most diverse and promising emerging markets in Africa. The country has become a key global hub for investment, innovation and research.
For a country as populous as Nigeria, the wheels can and should not stop rotating. Supply rarely ever exceeds demand, investors are always welcome and jobs are never surplus.
Johnson & Johnson has launched the Champions of Science Africa Innovation Challenge 2.0, a continent-wide competition calling on African innovators to submit ideas for innovative technologies, products and solutions that have the potential to create positive impact for African communities.
Kenyan Venture Capitalist firm, Novastar Ventures has raised $72.5 million for its second fund, Novastar II.
The Mastercard Foundation has announced a new fund that will enable young changemakers to seed and kick-start promising social ventures and community projects, creating economic opportunities for themselves and others.
The Capital Markets Authority (CMA) has granted approval for the cross-listing by introduction of Bank of Kigali Group Plc (BK), a holding company of Bank of Kigali Plc, BK Insurance, BK Capital and BKTecHouse, on the Nairobi Securities Exchange (NSE).
GTR Ventures, the world's first investment and venture-building platform specialized in trade and supply chain, has announced an investment in Orbitt -- an African-focused fintech deals platform.
South African media conglomerate Naspers has set up a R1.4bn ($96m) Naspers Foundry fund to invest into South African technology startups. The money will fund and support startups seeking to address big societal needs.
Collaborative medicine platform REMA has been named the winner of the Cameroon round of Seedstars World. The startup will now represent the country at the Seedstars Summit in Switzerland to compete for up to USD one million in equity investment and other prizes.
Greater economic integration through increased investment flows into Africa
At the Regional Investment Agency (RIA) for the Common Market for Eastern and Southern Africa (COMESA), we are fully committed to drive investment into and across the COMESA region, and Africa as a whole.
The Capital Markets Authority (CMA) has received a Notice of Intention by Rubis Énergie to make a cash offer (the “Offer”) to acquire 100% of the ordinary share capital of KenolKobil Plc.
Blockchain technology came into being in the early 2009. This invention was faced with a lot of backlash as most people lacked prior information about it and were therefore not ready to risk investing in it.
Naspers has announced the executive leadership team for the newly formed MultiChoice Group (formerly Naspers’ Video Entertainment business).
Finnish financial group Taaleri is set to acquire a 20 per cent stake of private equity investment firm Cytonn. The move is meant to provide the investment firm with a strong anchor investor ahead of its Initial Public Offering (IPO) scheduled for next year.
Private Equity Funds managed by Blackstone has announced a partnership with an experienced management team, to create Zarou, a company fully owned by Blackstone.
In response to a range of corporate scandals, speculation and innuendo that have characterised South African financial markets over the past year, the Johannesburg Stock Exchange (JSE) is embarking on a public consultation process.
Habitat for Humanity’s Terwilliger Center for Innovation in Shelter, BDO EA and Pangea have launched the ShelterTech 2018 program in Kenya.
VC4A has announced the eight Africa ventures that have been selected for the 2018 VC4A Venture Showcase – Series A.
Citizen owned companies have been urged to spread the risk of ownership among a large group of shareholders through availing shares publicly.
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.
Egypt’s first mobile community platform for the real estate industry iCommunity has announced $600K in Series A funding from Algebra Ventures, Egypt’s largest venture capital fund.
South Africa-based fintech company, Yoco, today launches Yoco Capital. Yoco Capital provides small businesses with fast, efficient access to a cash advance.
Microsoft has teamed up with the Lions@frica initiative of the African Technology Foundation to empower the startups finalists that will be pitching at DEMO Africa 2018.
The Nairobi space will also host the new East African office of its parent brand, a global leader in media intelligence and AI-Driven Outside Insight, Meltwater, who is also expanding into the region.
Prodigy Finance announces that it has raised R14.39 billion in the last twelve months in available debt financing.
Naspers’ Classifieds business, OLX Group, has announced an investment of ZAR 1.4 billion in South Africa’s specialised car buying service, Webuycars.
Global alternative asset manager The Carlyle Group has completed the acquisition of a majority stake in AK Life Sciences, Abacus, a pharmaceutical company in East Africa.
As part of employee volunteer programme, Samsung has arranged the Global Start-up Acceleration Programme in South Africa, in partnership with (SEDA) and NGO Nangila to mentor start-ups in various fields to support the sustainable growth of entrepreneurs.
Renew, a private equity impact investing firm, has announced expansion into its second African country, Uganda.
Vantage Capital, Africa’s largest mezzanine debt fund manager, has announced that it has fully exited its investment in New GX Capital, a one hundred percent black family owned investment holding company in South Africa.
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
Francis Vesta is Senior Investment Analyst at Itanna, an offshoot of the Honeywell Group in Nigeria.
Yoco, the South African-based Point of Sale payments provider, has raised a Series B round of US$16M led by Partech, a Venture Capital firm based in Silicon Valley, Europe and Africa.
Four businesses that are shaking up financial services have been named as finalists in AlphaCode’s recently launched accelerator programme, AlphaCode Accelerate.
The Capital Markets Authority (CMA) Act Cap 84 has been reprinted as a way of updating it to incorporate all amendments effected by the CMA Amendment Act, 2011 and the CMA Amendment Act, 2016.
The Chartered Institute for Securities & Investment (CISI) and the Chartered Institute of Bankers of Nigeria (CIBN) are delighted to announce the signing of a cooperation agreement in London.
The Forum will be held in Kigali, Rwanda on 5-8 September 2018
Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’.
AlphaCode, an initiative of Rand Merchant Investments, has set aside R16 million to identify a new generation of financial services entrepreneurs through its AlphaCode Incubate initiative.
Workforce Holdings Limited a diversified services group today released interim results for the six months ended 30 June 2018.
African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers, has acquired through its IDEAS Managed Fund - stakes in nine new solar and wind power plants in South Africa.
DEMO Africa has announced the thirty startup finalists for the 2018 edition of the annual conference. The startups were selected following a few months of innovation roadshows, city tours and virtual adjudication across different countries in the continent.
This has been perhaps one of the busiest weeks for African startups seeking funding to improve the operations or products.
Africa Green Revolution Forum pulling together stakeholders in the agricultural landscape, will host a Dealroom connecting investors with business owners
SunCulture, a Kenyan-based technology company and a leader in solar water pumps and irrigation solutions for small holder farmers, has closed an investment round with the EDF Group.
Mansur M. Nuruddin is a founding Partner of MNCapital Africa Advisors, a financial advisory firm focused on the African market.
President Uhuru Kenyatta of Kenya announced in Nairobi that his country would double its shareholding in pan-African infrastructure investment platform Africa50, increasing its current investment to US$100 million.
Growthpoint will retain its primary listing on the JSE and will not issue any new shares in connection with its secondary listing on A2X. There is no cost, risk, or additional regulatory compliance for Growthpoint as a result of its secondary listing on the A2X.
The Anchor Group, a South African financial services holding company, today became the ninth firm to have a secondary listing on A2X.
Vantage Capital announces today that it has provided $10 million of mezzanine funding to Cap Tamarin, a mixed-used, residentially-focused village located on the sought-after west coast of Mauritius in a seaside village called Tamarin.
Domestic and cross-border Initial Public Offering capital raising by African issuers in the first half of 2018 increased by 33% year-on-year to USD 396 million, while volume grew by 25% to 5 IPOs.
Orange has partnered with Google through Orange Digital Ventures (ODV), the Group's corporate venture fund, to join forces in financing the best startups.
Nigeria’s Piggybank.ng, an online and mobile app savings platform targeted at African Millennials, today announces that it has closed on Seed Funding of $1.1M.
Cell C has largely secured its capital expenditure funding for at least the next seven months, according to chief strategy officer Robert Pasley.
[Nigeria] Turner Wright Limited receives $150 million financing from Milost Global to grow African market
Turner Wright Limited a Nigerian company providing solutions in animal health, animal nutrition and hygiene has executed a Milost Equity Subscription Agreement financing facility with Milost Global Inc for $150 million financing.
Old Mutual Private Equity, one of the largest and most established private equity players in South Africa, has announced the acquisition of a 50% interest in Medhold Group, a prominent end-to-end supplier of world-class medical devices.
Private equity fund AfricInvest has officially become a shareholder in diversified financial services company Britam after acquiring a 14.3 per cent stake.
The Rise Fund, a global impact investing fund managed by growth equity platform TPG Growth, has signed an agreement to acquire a stake in Cellulant, a digital payments provider that reaches 40 million people across 11 African countries.
Orange Digital Ventures invests in Africa’s Talking, leading distributor of mobile communication and payment APIs to developers
Upon completion, Africa’s Talking plans to accelerate its internationalisation to support its clients’ expansion strategies
MFS Africa, a leading Pan-African FinTech company, today announced a $4.5m Series B funding round led by LUN Partners Group, a China-based global investment management group.
mSurvey, the mobile-first consumer feedback platform for businesses and consumers in Africa, today announces a Series A round of USD$3.5m.
Driving Trade, Unleashing Investment and Enhancing Economic Development
[South Africa] Former DiData CEO invests R10m into emerging social networking platform, Gather Online
Gather Online has today announced former Dimension Data chief executive, Brett Dawson, will be joining its board of Directors as Chairman, accompanying his investment of R10 million to support the company’s planned international expansion.
Westbrooke Alternative Asset Management, South Africa’s largest Section 12J manager, has confirmed that it has recently successfully closed its 2018 fiscal year fundraise, with over R565 million raised across four S12J investment strategies.
The Republic of Malawi has become the second Southern African member country of Africa Finance Corporation, Africa's leading infrastructure development finance institution.
Tecnicil Indústria, a beverage company in Cape Verde has announced that AFIG Funds, a leading African private equity fund manager, through AFIG Fund II, completed an investment in the Company in April 2017.
US-based private equity investor Milost Global has signed a deal to invest $250 million in Resort Savings & Loans, a financial services company.
Challenges and opportunities abound in Africa’s energy sector, with increase in mergers and acquisitions, Baker McKenzie forecast
Baker McKenzie’s Global Transaction Forecast for the Energy Sector shows that total M&A value in the energy sector in Africa and the Middle East was US$ 4.4 billion in 2017.
Sendy, an on-demand delivery services platform operating across Kenya, has completed a Series A investment round, led by DOB Equity. DOB Equity will invest alongside CFAO, member of the Toyota Group, and other private investors.
The Board of the African Development Bank has approved a loan ZAR 140 million to the African Local Currency Bond Fund to further enhance the Fund’s portfolio and promote the development of domestic capital markets across the continent.
African Reinsurance Corporation announces its membership of Africa Finance Corporation (AFC), and becomes the first multi-lateral financial institution to invest in AFC.
At a time when African startups are struggling with access to information on funding and transforming ideas to successful businesses, even as investors express growing appetite for the African startup market, BaobabFund is bridging this information gap.
nChain Group, the leading blockchain research and development firm, has taken an equity stake in Centbee, a Bitcoin wallet provider that makes it easy for global consumers to acquire, hold and spend Bitcoin with retailers and other merchants.