Fintech is increasingly gaining ground in the private equity sector. Over the first nine months of 2021, African fintech companies raised $1.44 billion; an amount higher than the overall amount raised over the past 10 years. From 2011 to 2020, the companies mobilized $1.06 billion. The $1.44 billion does not even include the 23 undisclosed transactions made over the period. In...

With 52,293 cases recorded as of Wednesday, September 8, Côte d'Ivoire experienced a peak in covid-19 infections in August 2021. Authorities attribute this spate of infections to the failure to comply with safety measures that led to a particularly virulent third wave. To contain this new wave of infections, the government announced its aim to vaccinate all persons "deemed most at risk" of...

The Millennium Challenge Corporation is one of Africa’s main financing partners, especially in the electricity sector. However, fund beneficiaries are required to meet a number of conditions before obtaining the resources. Senegal has just completed the necessary reforms to obtain a 5-year $550 million financing from the United States’ primary development fund -the Millennium Challenge...

Six months after joining US investor Y Combinator's mentoring and coaching program, Nigerian fintech Prospa has secured support from venture capital firms and investors, for pre-seed funding. Prospa, a Nigerian fintech that provides micro and small businesses with financial services and business management tools, has raised $3.8 million in pre-seed funding. The company co-founded in 2019 by...

The African Development Bank Wednesday joined leaders of government and international organizations in calling for stronger partnerships to support Africa’s recovery from the Covid-19 pandemic at the first Egypt-International Cooperation Forum. Participants also urged greater cooperation with the private sector in the short term to secure more rapid vaccine access for Africans. Gender equality...

Fintech MNT-Halan, which provides digital payment solutions and microcredit to Egypt's unbanked population, has secured a $120 million investment. The resources will help strengthen the company’s technology, develop new financial products, and expand business in Egypt. The funding was raised from a group of investors led by Apis Growth Fund II, which is a vehicle managed by the...

Francophone Africa can now boast of its first unicorn. With a capitalization of $1.7 billion, the U.S - and Senegal-based fintech Wave has become the region’s first Unicorn. The company has raised $200 million in a Series A financing round that saw the participation of renowned backers such as Founders Fund, Stripe, Sequoia Heritage, and Ribbit Capital. The operation thus values the...

Strengthening its healthcare system is a priority for the Ivorian government. In recent years, the country has multiplied projects to build or rehabilitate health centers across the territory. WHO estimated that the money allocated for the sector grew by an average of 16% every year between 2012 and 2016. Côte d'Ivoire has secured $50mln in loans from the Arab Bank for Economic...

Mr. Mugera, a Kenyan national, brings extensive experience to this role. He is a seasoned journalist and media manager with over 20 years of expertise working internationally. As Head of Journalism for the British Broadcasting Corporation (BBC) Africa, Mr. Mugera presided over the largest expansion of the BBC on the African continent since the 1940s, supporting the corporation in reaching a...

Global leaders stressed the critical urgency of climate adaptation when they came together in Rotterdam, the Netherlands, on Monday at a meeting of the Friends of the Global Center on Adaptation (GCA). The agenda was the acceleration of adaptation solutions ahead of November’s United Nations global climate summit, COP26. The leaders underlined the imperative for all countries to step up...