[Kenya] E-commerce startup Zumi is shutting down
Zumi, a Kenyan B2B e-commerce marketplace connecting retailers of non-food products to suppliers is reportedly closing shop after failing to raise funding.
Applications for the Inaugural AWS FinTech Africa Accelerator Now Open
Amazon Web Services’ Startup Loft Accelerator has announced the inaugural launch of its AWS FinTech Africa Accelerator. The program is open to pre-seed and seed-stage fintech founders operating in Africa.
Orange et OneWeb signent un accord visant à améliorer et étendre la connectivité mondiale
Ce partenariat avec OneWeb permettra d’améliorer et d’étendre la connectivité globale d’Orange, en particulier dans les zones rurales et isolées d’Europe, d’Amérique latine et d’Afrique
Mediterrania Capital Partners joins the “2X Challenge”
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries to announce that it has been selected by DEG, FMO and Proparco as a “2X Challenge” investment firm.
Bank One raises USD60 million on behalf of Letshego Group.
Bank One to announce that it has been selected by Letshego Group, one of the leading microfinance institutions in Africa, as its bank of choice for a syndication of USD 60 million.
Letshego Botswana to provide financial support to MSEs and drive Citizen Economic Empowerment
Morupule Coal Mine signs a milestone memorandum of understanding for Letshego Botswana to provide financial support of p2.2 billion to micro and small entrepreneurs over 5 years.
[Interview] Jean Kokouvi Etse, Directeur Général, SGI-TOGO
Jean Kokouvi Etse DG de SGI TOGO co-chef de file du Syndicat de Placement. La SGI-TOGO fait partie d’un Consortium de trois SGI retenues pour l’opération de BOAD TITRISATION.
Credable raised $2.5 Million to expand digital banking platform for customers in Uganda and Kenya
$2.5 Million fund will help the company expand its services, which include a number of banking products for customers in Uganda, Kenya and Credable’s home country of Tanzania.
African Development Bank approves $30 million Trade & SME Finance Facility for Family Bank Limited
The Board of Directors of the African Development Bank Group has approved a $30 million Trade & SME Finance Facility for Family bank Limited (FBL) in Kenya.
50M€ pour soutenir les PMEs exportatrices marocaine avec la Banque Centrale Populaire
50M€ pour soutenir les petites et moyennes entreprises exportatrices avec la Banque Centrale Populaire.
almentor secures a $10mn investment round led by e& capital for its expansion
almentor secures a $10mn investment round led by e& capital to bridge the education gap for 10 million Arabic speakers.
[Rwanda] Applications for 2023 Africa’s Business Heroes Prize competition open
Now in its fifth year, the competition offers a unique opportunity for African entrepreneurs to highlight their talent and make a bigger impact on the community through their businesses
Yabx Technologies expands into Nigeria
Yabx Technologies is a financial technology company which through its partnerships with banks and telecom operators, underwrites and services target segments available over customer networks.
Lancement du programme i-dice pour promouvoir les technologies numériques et les industries créatives
Le gouvernement fédéral du Nigéria a lancé une initiative visant à promouvoir l'esprit d'entreprise et l'innovation dans les technologies numériques et les industries créatives.
Finclusion Group consolidates all its brands and products, and is now known as Fin
Finclusion Group Limited (“Fin”) has successfully undergone a brand unification, consolidating all its separate brands and products across Africa into one brand, and is now simply known as Fin.
Yabx Technologies partners with SC Ventures to expand access to financial services in Africa
Yabx, a mass-market digital lending platform, has entered a partnership agreement with SC Ventures to expand access to financial services in Africa.
[Interview] Anne Catherine Tchokonté, DG d’Orange Money Cameroun
Anne Catherine Tchokonté, DG d’Orange Money Cameroun: "nos tarifs de retrait ont baissé de 25% en octobre dernier… "
[Kenya] Zoho opens new office and training center in Nairobi
Zoho Corporation, the Indian technology company building enterprise management solutions has announced the opening of its new headquarters in Nairobi.
Impact Investing Ghana has begun the operational setup of its innovative Ci-Gaba Fund
Impact Investing Ghana has begun the operational setup of its innovative Ci-Gaba Fund of Funds that seeks to unlock $75 million in local and international funding for local capital providers, who are investing in SMEs to advance the Sustainable Development Goals (SDGs).
La Suisse s’engage à verser 15 millions de francs pour financer des PME en Zambie et au Zimbabwe
La Suisse s’engage à verser 15 millions de francs au Fonds de l’initiative Bamboo-UNCDF pour les pays les moins avancés.
OneWeb confirms successful deployment of 40 satellites launched with SpaceX
Launch 17 brings the total OneWeb constellation to 582 satellites. Third launch with SpaceX makes penultimate mission to achieving global coverage.
Flat6Labs launches new US$95M Venture Capital Fund to expand its impact in Africa
Flat6Labs, MENA’s leading seed investor, has announced the launch of a new US$95 million Seed Fund to nurture the growth and development of early-stage tech startups on the African continent.
[Nigeria Business Week] Andrea Ayemoba: Investors bet on fintechs, startups
The past couple of weeks have seen a flurry of activities in several sectors of the Nigerian economy. Startups are receiving increasing financial backing from VCs for the growith of SMEs.
[Nigeria Business Week] Andrea Ayemoba: Digitization on all fronts, tech takes the lead
There is an obvious, increasing amount of technology awareness, and appeals for more extensive technology trainings in Nigeria.
[Nigeria Business Week] Andrea Ayemoba: Investments take priority over all
With global inflation spiraling out of control, every country is working harder than ever to welcome new enterprise and business. Nigeria made great progress in this in recent months.
[Column] Patrick Utomi: For AfCFTA to deliver on its promise, we must address concerns of entrepreneurs
We must recognise the preponderance of micro-small and medium sized enterprise in the continent’s commercial landscape.
[East Africa Business Week] Bob Koigi: Boosting small businesses’ competitivity in the region
Small businesses are the engine of the East African economic growth, employing millions and opening up the member states to interact with each other through seamless trade.
Africa Business Communities Forum: Which African countries will perform best economically in 2022?
Africa Business Communities talked to several entrepreneurs and founders in the early months of the year, and they cast their votes on which African countries will thrive best in 2022.
Africa Business Communities Forum: Quels seront les pays Africains plus performants sur le plan économique en 2022?
Africa Business Communities s'est entretenu avec plusieurs entrepreneurs et fondateurs au cours des premiers mois de l'année, et ils ont voté pour déterminer quels pays africains seront les plus prospères en 2022.
[East Africa Business Week] Bob Koigi: Partnerships bolster cross-border remittances and trade
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
African Business Roundtable, Afreximbank organize free webinar masterclass, September 28
In continuation of the series of webinars that has been ongoing throughout the year, the African Business Roundtable and the African Import Export Bank (Afreximbank) are set to hold yet another webinar on capacity building and investor preparation.
L'African Business Roundtable et Afreximbank organisent un séminaire en ligne gratuit le 28 septembre
Dans la continuité de la série de webinaires qui s'est déroulée tout au long de l'année, l'African Business Roundtable et la Banque Africaine d'Import-Export (Afreximbank) vont organiser un autre webinaire sur le renforcement des capacités et la préparation des investisseurs.
[Column] Bob Koigi: Kenya business community’s expectations of the new government
Kenya’s incoming government following the just concluded elections takes office amid ballooning public debt, chronic drought, COVID-19 effects, inflation, unemployment and the impacts of global shocks that have buffeted the nation.
[Interview] Mahad Ahmed, Fondateur, AME Trade, Royaume-Uni
Mahad Ahmed est fondateur et PDG d'Ame Trade Limited. Il est également membre de l'African Business Roundtable et un expert reconnu dans les secteurs du conseil et des services événementiels.
[Interview] Mahad Ahmed, Founder, AME Trade, United Kingdom
Mahad Ahmed is Founder and CEO of Ame Trade Limited. He is also a member of the African Business Roundtable and an an established expert in the Consulting and Events Services industries.
The African Business Roundtable Project Preparation Masterclass Free Webinar, July 27
After discussions with a variety of advisory and investment institutions, and to further attract investment to projects, the African Business Roundtable Secretariat in association with Afreximbank has designed the “Project Preparation Masterclass”.
The African Business Roundtable stays firm as Africa's private sector conduit to the world
The African Business Roundtable came into being in an era when Africa was hit by a horrendous economic climate. Between the ﬁght for independence in many countries and the end of apartheid in South Africa, Africa’s private sector barely had any structure in the 1960s.
L'African Business Roundtable reste ferme en tant que conduit du secteur privé Africain vers le monde
L'African Business Roundtable a vu le jour à une époque où l'Afrique était frappée par un climat économique épouvantable. Entre la lutte pour l'indépendance de nombreux pays et la fin de l'apartheid en Afrique du Sud, le secteur privé Africain n'était guère structuré dans les années 1960.
[Nigeria Business Week] Andrea Ayemoba: Government, Industries move to expand women enterprise
With plunging profits in its prized sector, oil and gas, and an ever-climbing inflation, Nigeria is increasingly turning to what most of the world has been blind to – the potential of women in business.
[Nigeria Business Week] Andrea Ayemoba: Banks move into East Africa, telecom pushes NSE profit
The telecom industry this week recorded a peculiar development – the massive registration of Nigerian SIM card holders.
[Nigeria Business Week] Andrea Ayemoba: Banks rally behind women-led SMEs
The NNPC has an approximated value of 50 trillion naira. With oil and gas infrastructure in Nigeria constantly plagued by mischief and vandalism, an ECOWAS expert has profferred a very interesting solution to this persisting problem
[Nigeria Business Week] Andrea Ayemoba: Telecoms slide into banking, Central Bank ups interest rates
The last few days have shown us developments and setbacks, statistics that show growth on the one hand and room for improvement on the other.
[Interview] Siviwe Ngcingwana, Founder, Signet Seal Group, South Africa
Siviwe Ngcingwana is the founder and CEO of Signet Seal Group, a diversified Pan-African company with growing interest across various sectors among them agriculture, renewable energy, mining, trading and deal brokering.
[East Africa Business Week] Bob Koigi: Investing in women-led businesses to deepen integration
East African member states, private sector players and development partners have stepped up their investment in women-led businesses and SMEs in a move likely to impact cross-border trade and boost integration in the region.
[East Africa Business Week] Bob Koigi: Financial institutions bank on tech to bolster offerings
East Africa financial institutions are betting on tech to boost their offerings, grow their customers’ portfolio and stay afloat in a competitive market.
[East Africa Business Week] Bob Koigi: What EU’s lifting of financial sanctions on Burundi means for EAC
The EU made the decision in the wake of deteriorating political situation occasioned by a disputed presidential election in 2015.
[Nigeria Business Week] Andrea Ayemoba: Government, Central Bank turn focus to the startup movement
There’s an ongoing comparison in Nigeria's status quo that is causing some rift – the national statistics and reports are showing a promising and stable economy, but the situation on-ground reflects a different reality.
[Interview] BIBOUM Kléber, Founder and CEO, GO AFRICA Business Sarl, Cameroon
BIBOUM Kléber is the current CEO and founder of GO AFRICA Business Sarl created in 2020, with a specialization in the development of the tourism industry in Cameroon.
[Column] Titilayo Adewumi: West Africa’s circular economy efforts at the forefront of fostering a more sustainable future
The vast majority of population growth across the continent will be concentrated in urban areas. WEF data indicates that more than 80% of Africa's population growth between now and 2030 will be in cities, with Lagos growing at a pace of 77 people every hour.
[Nigeria Business Week] Andrea Ayemoba: National GDP for Q3 sees increase, amid growing economic concerns
The Nigerian Minister for labour recently has affirmed that more needed to be done in order for the employment crisis to be mitigated. He did allow that much has been done, but a lot of action still was required if the problem was to be tackled from the roots.
[Column] Phyllis Wakiaga: Why Kenya should implement local content policies to steer growth
Businesses continue to be exposed to a constant creation and review of policies, which is tedious and costly. One of the reasons for this is poor structures and reception by institutions that have been put in place to ensure that these policies are of benefit to the people of Kenya.
[Column] Cathy Smith: Sustainability or extinction: what African enterprises need to know about the next ten years
Businesses and countries across the continent are attempting to rebuild following the devastating economic impact of the pandemic.
[Column] Phyllis Wakiaga: Ease regulatory burden for SMEs
They contribute to communities’ unique identities and are the lifeline of any country’s economy, through job creation and as a stepping stone to achieving shared prosperity.
[Column] Phyllis Wakiaga: Government policies must support a flourishing local industry
There is a sense of pride, for a country and its citizens, in attaining self-sustenance and economic independence. Central to this is a competitive local industry, producing goods for its domestic and export markets.
[Interview] Stephan Eyeson, fondateur et PDG, Survey54
L'entrepreneur Britanique-Ghanéen, Stephan Eyeson, est actuellement PDG et fondateur de la société panafricaine de collecte de renseignements sur les consommateurs, Survey54.
[Interview] Essi Farida Geraldo, CEO, Architecte urbaniste, Togo
Passionate about art and creation and ended up in immersing in the field of architecture and design, Essi Farida Geraldo is the CEO of Architecte urbaniste an architectural and sustainable development firm which offer classic eco-architecture and urban planning services in Togo.
[Interview] Stephan Eyeson, Founder & CEO, Survey54
British-Ghanaian entrepreneur, Stephan Eyeson, is current CEO and Founder of pan-African consumer intelligence gathering firm, Survey54.
Ooredoo evolves fintech services in footprint markets, partners with Huawei at MWC 23
Ooredoo Group has signed a partnership agreement with Huawei to leverage their Mobile Fintech platform to provide Fintech services in markets across the company’s footprint.
South Africa is a step closer to a more accessible national payment system
South Africa clears the way for broader financial inclusion with the launch of a low-value, real-time digital payment service.
Africa Finance Corporation wins DFI of the Year for Europe & Africa at the IJGlobal Awards
AFC, the continent’s leading infrastructure solutions provider, has been awarded “DFI of the Year-Europe & Africa" at the 2022 IJGlobal Awards.
Kenyan wins the Aurora Tech Awards Announces 2023
Elizabeth Mwangi, the founder of Gwiji, the Kenyan startup that economically empowers women from the slums of Nairobi is the winner of this year’s Aurora Tech Award.
Visa's training programme boosts women’s financial resilience in Nairobi’s informal settlements
Hand in Hand’s Kenya Micro-Enterprise Success (KMES) programme funded by Visa has resulted in participating entrepreneurs increasing their incomes by an average USD $156 per month.
Ecobank partners with VISA to equip MSMEs with practical business skills
The training programme will equip business owners and entrepreneurs with the requisite skills on starting a business, how to better manage their enterprise and make informed business decisions
Jeremy Awori prend la tête du Groupe Ecobank en tant que nouveau Directeur Général
Jeremy Awori apporte avec lui plus de 25 ans d'expérience dans le secteur bancaire, dont près de dix ans en tant que directeur général de Absa Bank Kenya Plc.
Visa and Visa Foundation to close funding gap for female entrepreneurs in Sub-Saharan Africa
As part of its $200 Million Equitable Access Initiative, Visa Foundation commits $1 Million to two local organizations – AfriLabs and Graça Machel Trust – building on its efforts to support gender diverse and inclusive small and micro businesses
Truzo launches Africa-Focused Digital Escrow service in UK
Truzo’s UK digital escrow service enables African businesses to transact with trust, offering lower fees to help fight inflation
[Column] Veerakumar Natarajan: How tech can help stimulate micro economies
A lack of access to technology can hinder local economies, particularly in developing countries such as Kenya and other African nations.
Lipa Later Kenya and Mombasa County signed a partnership to digitize Small and Medium Sized Enterprises
Lipa Later Kenya and Mombasa County Government sign a partnership aimed at digitizing Small and Medium Sized Enterprises (SME’S), enabling access to a Country wide market and access to financial services for both SMES and consumers.
Smart Africa et Enabel s'associent pour stimuler l'esprit d'entreprise basé sur la technologie
Smart Africa et Enabel s'associent pour stimuler l'esprit d'entreprise axé sur la technologie grâce à un échange d'apprentissage par les pairs entre le Bénin et le Rwanda.
Team Europe FMO and Proparco support Tanzanian private sector growth through $125 mln to NMB Bank
FMO, the Dutch entrepreneurial development bank, recently arranged a USD 125 mln senior loan facility for its long-term customer NMB Bank in Tanzania.
FMO signs USD 11 millions guarantee to NMB Bank, supporting Tanzanian MSME sector
FMO to announce a USD 11 million NASIRA risk sharing facility for NMB Bank Plc. in Tanzania to support Tanzanian MSME sector.
La 2ème édition des AfricaTech Awards, une initiative pour soutenir les entreprises axées sur l'Afrique
La Société financière internationale et Viva Technology ont annoncé la deuxième édition des AfricaTech Awards, une initiative visant à reconnaître et soutenir les entreprises axées sur l'Afrique.
Le programme d'accélération de MultiChoice Africa vise à stimuler la prospérité des PME africaines.
MultiChoice a présélectionné 11 start-ups pour leur permettre d'obtenir un financement international et de faire passer leurs petites entreprises au niveau supérieur.
[Interview] Ireayomide Oladunjoye, MD/CEO, Endeavor, Nigeria
Ireayomide Oladunjoye is the MD and CEO of Endeavor Nigeria. She is passionate about supporting and being an enabler in the ecosystem for impact and social development working to leave a legacy of transforming the Nigerian economy one entrepreneur at a time.
[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years
Tala, one of Kenya’s most popular digital credit providers has revealed that it disbursed 3.5 million loans worth Sh240 billion in the last eight years.
[Interview] David Galadima, Founder, Graemoh Foods, Nigeria
Passionate about sustainable agriculture, aquaculture and food security in Africa, David is the founder of fast growing agriculture and processing company, Graemoh Foods, operating out of the northern state of Kaduna, Nigeria.
Mastercard Trust Centre partners with Nigerian fintech startup NowNow to improve cybersecurity for SMEs
Mastercard has partnered with Nigerian digital payment startup NowNow, to help SMEs reduce the risk of cyberattacks.
[Column] Didi Onwu: Understanding youth entrepreneurship in Kenya - why FinTech is an attractive sector
Today, with access to unparalleled levels of support through some form of acceleration or incubation, Kenya’s around 308 startups have helped to position the country as one of the “Big Four” startup ecosystems in Africa.
400 millions d'euros du ITFC pour soutenir des secteurs clés au Sénégal
ITFC (Société Islamique Internationale de Financement du Commerce) signe un plan annuel 2023 de 400 millions d'euros avec la République du Sénégal et le Programme National des Passerelles Commerciales de l'Afrique Arabe pour soutenir les secteurs clés.
Rwanda and Singapore to launch Annual Global Inclusive FinTech Forum
Rwanda and Singapore launched Annual Global Inclusive FinTech Forum to advance innovation in inclusive finance.
I&P réunit les structures d’appui à l’entrepreneuriat des PMEs en Afrique
Investisseurs & Partenaires a déjà levé 428 millions $ pour financer plus de 250 entreprises en Afrique.
Satgana's investment into Yeasty's €1.4m Pre-Seed round, alongside Asterion Ventures and Caméléon Invest
Food-tech startup, Yeasty has raised €1.4 million for its circular approach to alt-protein which uses leftover brewer’s yeast.
SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm has partnered with Yabx
SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm has partnered with Yabx, a company incubated by Comviva and part of the Mahindra Group, to address a deep-rooted need for responsible consumer finance in Africa.
Visa teamed with Tingo to promote financial inclusion and access to digital payment for Africa’s farmers
Tingo Mobile and Visa announced the launch of their pan-African strategic partnership, which aims to improve access to digital payments and financial services and drive financial inclusion across Africa.
EABC urges governments to fast-track review of EAC SME charter
He said, SMEs should be empowered to trade under African Continental Free Trade Area Agreements (AfCFTA).
Sirius Capital en partenariat avec Julaya pour permettre aux ivoiriens d'investir en bourse via mobile money
Le partenariat, des plus innovants entre Sirius Capital et Julaya permettra d'offrir une plus grande variété de produits financiers tout en facilitant l'accès à des services financiers de qualité pour la population ivoirienne.
Oikocredit et Triodos IM fournissent de 10M€ de capital Tier II à Bridge Bank Group Côte d'Ivoire
Oikocredit a annoncé un co-investissement de 10 millions d'euros pour Bridge Group Côte d'Ivoire (BBG CI), une filiale de Bridge Group West Africa, finance les petites et moyennes entreprises locales et soutient la création d'emplois dans la région.
After Ghana Office opening, Network International introduces direct to merchant payments acceptance in Egypt
Launch under new ‘networkpay’ brand to boost digital payment acceptance & financial inclusion in Egypt.
IFC and EquityBCDC deepen partnership to support small and medium-sized business growth in the DRC
Under the partnership, IFC will support the expansion of EquityBCDC's SME-lending operations through a $12.5 million risk sharing facility (RSF).
Stanford Seed renews collaboration with AMI to support African entrepreneurs
Seed, a Stanford Graduate School of Business-led initiative, has renewed its collaboration with the African Management Institute (AMI) in its ongoing effort to partner with entrepreneurs to help them build thriving enterprises that transform lives.
Leaf Wallet rebrands to BOSS Money as part of expansion across Africa
BOSS Money Customers across Africa will be able to Receive Money Transfers Directly into their Boss Money Wallet from Family and Friends in the U.S.
IFC et Rawbank s'associent pour améliorer l'accès au financement des petites entreprises en RDC
IFC a annoncé un nouvel investissement dans Rawbank en vue d'améliorer l'accès au financement des micro, petites et moyennes entreprises (MPME) du pays.
IFC et EquityBCDC pour soutenir la croissance des petites et moyennes entreprises en RDC
IFC et Equity Banque Commerciale du Congo (EquityBCDC) ont annoncé un partenariat visant à accroître l'accès au financement des petites et moyennes entreprises (PME) en République Démocratique du Congo et à favoriser la diversification économique du pays.
Lulend to close its $35M Series B that will increase the support to South African SMEs
Led by Lightrock the global impact investor, with DEG, Triodos Investment Management, and Women’s World Banking Asset Management, as well as existing investors The International Finance Corporation (IFC) and Quona Capital, we’ve managed to secure a total of $35 million.
Partech Africa II closes at €245m to invest in tech startups in Africa
Partech, the global technology investment firm, announced the first closing of Partech Africa II at €245 million, already above the target fund size.
IFC partners with Rawbank to improve access to finance for MSMEs in DRC, Kinshasa
IFC announced a new investment in Rawbank to improve access to finance for the micro, small and medium-sized enterprises (MSMEs), to support growth and job creation in the DRC, Kinshasa.
[Interview] Seyi J. Matanmi, Founder, Hosteet, Nigeria
Seyi J. Matanmi is a technology product developer and entrepreneur. Educated in software development, research and analytics, he currently leads the cloud services outfit, Hosteet, operating out of Lagos, Nigeria.
Oikocredit partners with MyCredit to fund SMEs in Kenya
Social impact investor Oikocredit, approved a loan facility of $2.6 million to MyCredit, to support businesses and local communities to achieve greater financial freedom through tailor-made loans to SMEs, professionals and civil servants.
IFC partners with ACEP Burkina to support farmers and rural agribusinesses in Burkina Faso
IFC announced a local currency loan to ACEP Burkina, to improve access to finance for farmers and micro, small and medium-sized enterprises (MSMEs) in Burkina Faso's agribusiness sector.
[Nigeria] IFC partners with Union Bank to support trade, SMEs
IFC's $30 million loan will allow Union Bank to increase trade financing and working capital lending to Nigerian businesses, including those whose cashflows have been strained by recent disruptions in global and local markets.