In 2021, they raised record financing volume, becoming a growth reference in Africa. They are now embarking on new projects that will make them world-class leaders. Recent developments show  Nigerian startups Moove and Flutterwave are taking the African fintech sector to the international scene. In late August 2022, Moove -which provides vehicle financing in Nigeria and Tanzania- signed a...

Safaricom plans to launch its nationwide commercial operations in Ethiopia, in October 2022. It commits to making huge investments to conquer a market long monopolized by incumbent operator Ethio Telecom. World Bank Group's International Finance Corporation (IFC) announced, Wednesday (September 7), plans to invest US$160 million into Safaricom Telecommunications Ethiopia (STE). The investment is...

Despite the small amount of greenhouse gas it emits, Egypt is experiencing the effects of climate change. The government thus wants to stem the phenomenon with its response plan.  The United Kingdom, through the Foreign, Commonwealth, and Development Office (FCDO) and the European Bank for Reconstruction and Development (EBRD), will provide more than US$12.7 million to strengthen e-mobility...

ARISE Integrated Industrial Platforms (ARISE IIP), a developer and operator of world-class industrial ecosystems across Africa, in partnership with the Government of Rwanda, is proud to announce the signing of a framework agreement for the development of an industrial zone in Bugesera District. This agreement, in line with ARISE IIP’s ambition to unlock Africa’s industrial potential, will...

The African Development Bank and the Global Green Growth Institute (GGGI have launched a report analysing  the readiness of seven countries - Morocco, Tunisia, Kenya, Rwanda, Senegal, Gabon and Mozambique - to drive green growth. The joint report was launched on the sidelines of Africa Climate Week, in Libreville, Gabon. It assessed the status and trends of green growth as well as...

In May 2022, Sanlam and Allianz announced a more than US$2 billion joint venture project “to create the largest pan-African non-banking financial services entity on the continent.” The South African group expects the deal to be completed in the next 12 months. Sanlam and Allianz’s joint venture project could be completed in the next 12 months, according to a note to investors today,...

The roadmap is approved some six months after the country auctioned high-speed internet spectrums to boost broadband and ultra-broadband adoption amid accelerating digital transformation. South Africa recently unveiled its roadmap to shut down its 2G and 3G networks by March 2025. The roadmap, contained in the Ministry of Communications’ next-generation radio frequency spectrum draft policy...

In February 2021, Africell settled the financial obligations to secure its telecom license. Since then,  the operator has invested more than US$150 million to build a high-quality 5G-capable network, with an initial capacity of more than 6 million subscribers. Africell, the first fully foreign-owned telecom operator to provide mobile services in Angola, has already attracted five million...

African and other global leaders meeting in Rotterdam say the continent is at a tipping point for climate adaptation action. Two months to the 27th global climate summit (COP27) in Sharm El-Sheik, Egypt, African and other global leaders have rallied in Rotterdam, to highlight the urgency of climate adaptation funding for the continent. The meetings—co-convened by the President of the African...

The loan will help finance more climate-sensitive projects. It nevertheless brings out questions on how Africa should fund its climate action, which currently relies on mitigation instead of focusing on adaptation.   The IFC will provide a US$150 million loan to help the Kenya Commercial Bank Kenya (KCB) increase its credit to climate-sensitive projects. The credits will mainly focus...