The NSE Derivatives Market (NEXT), has formally launched the Mini NSE 25 index futures contracts. The Mini NSE 25 index futures contract will appeal to retail investors due to its lower initial margin requirements.
The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank.
The African Infrastructure Investment Managers (AIIM), along with a consortium comprising South African Housing & Infrastructure Fund (SAHIF), have agreed to acquire 25.8% interest in MetroFibre Networx.
MarketForce acquires Digiduka startup to consolidate distribution of consumer goods with digital financial services in Africa
MarketForce, the end-to-end retail distribution platform for consumer brands in Africa, announced the strategic acquisition of Digiduka, a startup on a mission to bring informal retailers in Africa into the digital economy.
UK-based, MENA focused, startup BASMA.com closed $3 million Series A funding led by MEVP with the participation of SOSF, IM capital and returning investors iSME, Cedar Mundi Ventures and IFA capital, to scale up its healthtech platform in the MENA region.
Sound Energy, the Moroccan focused upstream gas company, has entered into a sale and purchase agreement with Schlumberger Holdings II Limited to acquire the entire issued share capital of Schlumberger Silk Route Services Limited (SSRS).
The National Petroleum Corporation of Namibia (NAMCOR), and ReconAfrica announced the execution of a Joint Operating Agreement (JOA), to develop the resource potential of the Kavango Sedimentary Basin, Northeast Namibia.
The Nigerian Exchange Group (NGX), announced the listing of Nova Merchant Bank Plc’s N10billion Bond.
[Africa Tech Review] Duncan Mochama: Governments are helping advance the digital economy and drive economic transformation
In Kenya, the government in partnership with the private sector also this week unveiled a new initiative aimed at equipping small business owners with digital skills.
[South Africa] Wuri Ventures and Capria Ventures invest $1.5 million in mobility data startup WhereIsMyTransport
Pan-African VC fund Wuri Ventures and leading global investment firm, Capria Ventures, have announced a new investment in South Africa's mobility data start-up WhereIsMyTransport.
Speedaf express, a China-Africa integrated logistics service provider, officially announced the completion of its Round A+ financing, led by TRUSTBRIDGE, followed by northern light VENTURE CAPITAL, and VISION+CAPITAL on the basis of Round A.
IFC launched a new advisory program aimed at making it easier for startups in Algeria, Libya, Morocco and Tunisia, expand their operations across North Africa.
The African Development Bank (AfDB), and the Securities and Exchange Commission (SEC) of Ghana, launched a $400,000 project to strengthen the development of Ghanaian capital markets.
[Africa Tech Review] Duncan Mochama: Africa has very few support systems for aspiring local investors
This week, Dream VC, a Remote Venture Capital Upskilling Institute launched a new fellowship program dedicated to providing more access and opportunities to traditionally underrepresented individuals in the African venture capital space.
The Federal Development Ministry (BMZ) has expanded its developPPP Ventures programme in Kenya to support local startups.
Adenia Partners, a private equity firm investing in Africa, announced it has completed the acquisition of Africa Biosystems Limited (ABL), a distributor of life sciences and clinical diagnostics equipment in East Africa.
Savannah Energy in proposed acquisition of ExxonMobil's upstream and midstream asset portfolio in Chad and Cameroon
Savannah Energy announced it is in advanced exclusive discussions with ExxonMobil Corporation with respect to the proposed acquisition of its entire upstream and midstream asset portfolio in Chad and Cameroon.
Ian Lessem, Managing Partner at HAVAÍC, investors in early-stage, high-growth technology businesses, considers the trends making an impact on the African Venture Capital (VC) landscape.
The Board of the Capital Markets Authority (CMA), granted approval to Synesis Capital Limited to register Masaru Unit Trust Fund as a Collective Investment Scheme consisting of two sub-funds; Masaru Money Market Fund and Masaru Wealth Fund.
The Capital Markets Authority (CMA), has admitted KOA Save Africa and Moneto Ventures to the Regulatory Sandbox.
Venture capital funding for African startups to reach $2.8 billion in 2021, a record high for the continent
African tech accelerator AfricArena recently released a new report using Partech data which has forecast that venture capital funding for African startups will amount to between $2.25 billion and $2.8 billion this year, a record high for the continent.
Black South African retail investors will now get the opportunity to invest in the world’s largest beer producer, AB InBev, following the listing of SAB Zenzele Kabili on the Johannesburg Stock Exchange’s (JSE) Empowerment Segment.
The Johannesburg Stock Exchange (JSE), announced that the NewFunds Reitway Global Property Exchange Traded Fund (ETF) has listed on the JSE Main Board.
EthioChicken currently operates eight poultry farms and four hatcheries, which produce and supply young chicken for households in rural Ethiopia.
Dream VC, a Remote Venture Capital Upskilling Institute, has launched a new fellowship program dedicated to providing more access and opportunities to traditionally underrepresented individuals in the African venture capital space.
South Africa and US-based biotech startup LifeQ secured $47 million in Series A funding from One Bio Venture Studio, a Cape Town-based VC and several other investors.
[South Africa] Afrimat acquires Gravenhage manganese mining right to further strengthen diversification
Afrimat, an open-pit mining Company providing industrial minerals, commodities, and construction materials, announced the acquisition of the Gravenhage manganese mining right and associated assets in the Northern Cape, South Africa.
Cytonn Investments has launched its insurance agency arm, the Cytonn Insurance Agency (CIA), whose key objective is to disrupt the insurance industry through innovation and automation of insurance processes.
The Sovereign Fund of Egypt (TSFE), and EFG Hermes, announced they have executed agreements to acquire 76% capital of Arab Investment Bank.
The Central Bank of Kenya (CBK) announced the acquisition of 100 percent shareholding of Uwezo Microfinance Bank (Uwezo MFB) by Salaam African Bank (SAB) of Djibouti.
The Johannesburg Stock Exchange (JSE) announced the listing of CoreShares Total World Stock Feeder Exchange Traded Fund (ETF), giving South African investors exposure to large, mid, and small-cap stocks across developed and emerging markets.
[Africa Tech Review] Duncan Mochama: Africa is banking on digital payments innovation to create digital economies.
Every single day, hundreds of millions of payment transactions are completed across Africa via cards, mobile money, and digital payments. The continent is banking on digital payments innovation to create digital economies.
Norwegian-based accelerator Pangea has unveiled a scale-up program offering private funding of up to $3 million and business support to enable locally funded startups to accelerate their enterprises to the next level.
Coal mining company Seriti Resources confirms that all conditions precedent to its acquisition of South32 SA Coal Holdings Proprietary Limited (SAEC) have been fulfilled, and the sale is expected to be completed on 1 June 2021.
[Kenya] Five women-led tech startups awarded $10k funding by Standard Chartered Women in Tech Incubator
The Standard Chartered Bank has awarded 5 women-led businesses with KES 1,000,000 each. The businesses were picked from the 4th cohort of the Standard Chartered Bank Women in Tech incubation program
bp and Eni announced that they have entered into a non-binding memorandum of understanding (MoU) to progress detailed discussions on combining their upstream portfolios in Angola, including all their oil, gas and LNG interests in the country.
The African Export-Import Bank (Afreximbank), successfully closed a $1.3 billion dual tenor bond issuance, the Bank’s largest-ever transaction in the international debt capital markets.
The African Guarantee Fund (AGF), received a capital increase of $20 million from the Danish Investment Fund for Developing Countries (IFU) to facilitate green SME financing in Africa.
The Pension Fund Operators Association of Nigeria (PenOp) has partnered with the African Private Equity and Venture Capital Association (AVCA) to empower local investors and develop private equity (PE) as an asset class in Nigeria.
Impact Oil & Gas announced the completion of the farm-in transaction between its wholly-owned subsidiary, Impact Africa and Silver Wave Energy for the acquisition of a 90% working interest and operatorship of Area 2, offshore South Africa.
[South Africa] African Infrastructure Investment Managers and Reatile acquire 30% stake in LNG pipeline from Sasol
Sasol will retain a 20% shareholding in ROMPCO and will continue to operate and maintain the pipeline in terms of the pre-existing commercial agreement between another member of the Sasol group and ROMPCO.
Starsight Energy announced its expansion into East Africa via the acquisition of a 50% stake in the East African operations of Premier Solar Group, a Commercial & Industrial (C&I) solar company with a focus on Sub-Saharan Africa and South Asia.
To boost the development of affordable, quality, and resource-efficient student accommodation in South Africa for low-income students, IFC announced financing for a new investment platform managed by South Africa's Eris Property Group.
IMPACC has announced plans to provide smart equity investment of between $30,000 – $150,000 with a period of 6 to 12 months to social businesses in Africa.
The Capital Markets Authority (CMA) has granted approval to Crown Paints Kenya to undertake a rights issue to raise Ksh711,810,000 by issuing and listing 71,181,000 new ordinary shares on the Nairobi Securities Exchange.
The Nairobi Securities Exchange (NSE), officially launched its Unquoted Securities Platform (USP), a market infrastructure that facilitates the trading, clearing and settlement of securities of unquoted companies in Kenya.
Swedish engineering company Sandvik to acquire South African screens and feeders manufacturer Kwatani
Sandvik signed a deal to acquire the South African based company Kwatani, the supplier of screens and feeders for the mining industry.
PPC and Kgatelopele Lime announced they have reached an agreement for the sale of PPC Lime to Kgatelopele Lime for $39.1million.
Health and beauty company Clicks plans to acquire the retail pharmacy business of Pick n Pay, including 25 in-store pharmacies which will be rebranded to Clicks.
Galiano Gold announced it has acquired 100% of ABG Mali Exploration SARL (ABG Mali) from a subsidiary of Barrick Gold for consideration paid of $1.5 million.
As the world went into pandemic lockdown in 2020, consumers in Africa shifted their spending habits to embrace contactless tap-and-go payments and online shopping.
In a sign of robust global investor interest in the continent, Africa Finance Corporation (AFC), a multilateral development financial institution dedicated to infrastructure financing in Africa, successfully issued a Eurobond at its lowest yield to date.
Lami Technologies, a Kenyan insurance technology (insurtech) company that aims to democratize insurance products and services for low-income Kenyans, has raised $1.8 million in seed funding.
Uhuru Investment Partners (Uhuru), a middle-market private equity firm based out of Lagos and Abidjan, announced the first close of Uhuru Growth Fund I (UGF) at $113 million, with capital support from CDC Group.
Anglo African Oil & Gas will enter into an option agreement (the "Option") with Saltfleetby Energy Limited ("SEL") to acquire a 25% interest in in the Saltfleetby gas field, East Lincolnshire.
Mastercard has today announced a new investment in Rwandan female-focused eCommerce platform Kasha to ensure women across emerging markets have essential access to health and personal care product
Zahra Baitie-Boateng, is the Head of Partnership and Programs, Africa’s Business Heroes, Jack Ma Foundation’s flagship philanthropic program in Africa to support entrepreneurs.
Zenith Energy announced that Compagnie Du Desert has entered into a share purchase agreement with Candax, for 100% acquisition of El Bibane and Robbana concessions in Tunisia.
Lacuna Fund announces second round of funding to projects supporting Natural Language Processing technologies Across Africa
The partner organisations behind Lacuna Fund implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, announced the second cohort of supported projects.
[Africa Tech Review] Duncan Mochama: Global organisations are bringing entrepreneurial and tech skills to support African women
The Cherie Blair Foundation for Women, DHL, and Sinapis this week launched a new program to bring entrepreneurial skills and support to over 3,500 of Kenya’s most promising women entrepreneurs
Upon receipt of all necessary approvals from the National Pension Commission (PenCom), AXA Mansard Pensions has rebranded to Tangerine Pensions.
[South Africa] JSE Investor Services collaborates with William Radcliffe to provide legal and governance services
JSE Investor Services has entered into a collaboration with William Radcliffe to offer listed companies with new value-added services that include company secretariat, share administration and trust services, effective 1 May 2021.
Southern African justice startups looking for the opportunity to take their business to new heights have until 30 April 2021 to enter the Hague Institute for Innovation of Law (HiiL) Innovating Justice Challenge.
Accenture announced an investment, through Accenture Ventures, in Nigeria-based fintech company Okra, an open finance data infrastructure startup serving the rapidly expanding African financial services market.
Socially responsible investing (SRI) and the trend towards products offering environmental, social and governance (ESG) standards are among the drivers of increasing demand for Shariah-compliant wealth management solutions
Persistent Energy Capital announced a strategic venture building investment and partnership with Ecobodaa, a pioneer e-mobility startup, leading the revolution of the electric motorbike taxi (bodaboda) in Kenya.
A number of African telcos already starting to roll out this fifth-generation technology standard for broadband cellular networks in the different countries they operate in.
[Uganda] Insurtech startup OKO raises $1.2 million to bring innovative insurance to smallholder farmers across Africa
OKO, an Insurtech startup that provides inclusive agricultural insurance to secure farmers’ income across Africa, has closed a Seed investment of $1.2 million.
HAVAÍC says aligning to startup founders’ interests leveraging off smart capital and working together towards a mutually favourable exit is the foundation for successful collaboration between Venture Capital (VC) investors and startups.
Karooooo, a software company, joined the JSE’s Main Board. Karooooo is the controlling shareholder of Cartrack, the previously JSE-listed fleet management and vehicle recovery specialists.
Sommet Education together with Invictus Education Group announced that Sommet Education is acquiring a majority stake in Invictus Education alongside its historical shareholders.
Azinam completes acquisition of 50% operated interest in Block 2B oil discovery offshore South Africa
Azinam South Africa Limited (ASAL), a Seacrest company, announced the completion of its acquisition of a 50% operated interest in Block 2B offshore South Africa.
KAS Africa, a contract manufacturer of personal, home, baby and oral care FMCG products, has received an investment with an aggregate value of $10 million from TRT Investments Limited.
Nigeria's Access Bank, Atlas Mara and ABC Holdings (ABCH), have entered into a definitive agreement regarding a proposed acquisition of 78.15% of the issued share capital of African Banking Corporation of Botswana, by Access Bank.
UNICEF has announced the twenty-two startups that will be taking part in this year's cohort of the UNICEF Startup Lab, a co-creation space and accelerator.
Grindstone is an equity-free structured entrepreneurship development programme that assists high-growth innovation-driven SMEs in South Africa to become sustainable and fundable.
[Africa Tech Review] Duncan Mochama: Twitter Opens First African Office in Ghana to Tap Fast-Growing Market
Twitter announced that it's finally coming to Africa. The microblogging site announced on Monday that it was opening a new office in Ghana, which it said was in line with its growth strategy.
Quro Medical, a South African digital health startup, emerged from stealth mode to announce the closure of its seed funding round to accelerate growth for Africa’s first technology-driven Hospital at Home offering.
In line with its investor protection mandate, as affirmed by the Supreme Court, the Capital Markets Authority (CMA) commenced its enforcement proceedings against former board members of Imperial Bank.
Brokerage company ThinkMarkets announced the launch of its South African shares and ETFs offering. The new, advanced technology is designed to deliver an accessible entry to investing into shares of companies listed on the JSE to local investors.
Anglo American announced the demerger of its thermal coal operations in South Africa, subject to the approval of Anglo American’s shareholders on 5 May 2021.
The Johannesburg Stock Exchange (JSE) welcomed the listing of Sygnia’s Exchange Traded Fund (ETF), Sygnia Itrix S&P Global 1200 ESG ETF, on the Main Board.
Appzone, the Pan-African fintech software provider building proprietary solutions for the continent’s banking and payments industries, has today announced the close of its $10mn Series A round.
Solar home systems social enterprise startup Baobab+ has raised €4 million in financing for the expansion of its activities in Côte d’Ivoire and Senegal.
Kigali based electric motorcycle startup Ampersand has raised $3.5 million in funding from the Ecosystem Integrity Fund (EIF) to rapidly scale its electric motorcycle and swap station network in Rwanda.
[Africa Tech Review] Duncan Mochama: Africans are increasingly using eCommerce in response to COVID-19 restrictions
Ten countries are responsible for 94% of all online business in Africa. South Africa, Egypt, Nigeria, Algeria, and Kenya together account for 78% of total marketplace traffic.
Pan African specialist investment financial institution Verdant Capital has raised $9.9 million Series A equity capital for Tugende, a technology enabled MSME lender in East Africa.
[South Africa] JSE drives more transparency and liquidity, provides access to real-time market-making scheme
In an effort to increase liquidity and price transparency for Index Option contracts in the options market, the Johannesburg Stock Exchange (JSE), will now be providing access to real-time, on screen pricing for its JSE Top 40 Index Options contracts.
S&P Dow Jones Indices, world's index provider, announced the inaugural publication of the S&P Indices Versus Active Funds (SPIVA®) Scorecard, measuring the performance of equity funds domiciled in the Middle East and North Africa (MENA).
Connecting women to the digital economy is critical to driving further economic growth and innovation on the African continent.
The “Africa’s Business Heroes” (ABH) prize competition, Jack Ma Foundation’s flagship philanthropic program spotlighting and celebrating Africa’s entrepreneurial talent has opened applications for its third annual edition.
On-demand delivery startup Glovo has raised $528M funding round led by New York-based investment managers Lugard Road Capital and the Luxor Capital Group.
The Johannesburg Stock Exchange (JSE), welcomed the first listed Social Bonds in South Africa to its Sustainability Segment.
The Board of the Fund for Export-Development in Africa (FEDA), an equity, development impact-oriented subsidiary of African Export-Import Bank (Afreximbank), has appointed Emmanuel Assiak as Acting CEO, effective March 11, 2021.
Cordaid Investment Management (CIM) and Triodos-Hivos Fund, two Netherlands-based impact investment funds, have co-financed Capitol Foods’ expansion of its local fruit processing capacity to meet the growing demand for its Sierra Juice beverage products.
Curacel, an AI-powered platform for claims processing and fraud management in Africa, raised a $450,000 pre-seed funding in a round led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors.
Kemin Industries is growing its presence in the global vaccine market by becoming majority shareholder of MEVAC, an animal vaccine manufacturer based in Cairo, Egypt.
The Hague Institute for Innovation of Law (HiiL) has opened applications for this years HiiL Innovating Justice Challenge.
Kenyan agency banking startup Tanda has announced that is expanding its operations regionally after closing a funding round in February 2021.
To develop the potential of startups driving the internet economy, Telecel Group has opened applications for the ASIP Accelerator Program powered by Startupbootcamp AfriTech.