Three months after Finnish development bank Finnfund committed $26 million to ADP III, Denmark's IFU also announced an investment in the vehicle. The Danish development finance institution (IFU) has approved a $15 million investment in African Development Partners III (ADP III), a private equity fund that focuses on growth companies, primarily those serving the emerging middle class in...

Tunisia reported last July 6 a record daily number of 9,823 Covid-19 cases. Ten days after, the country hit a new record of 205 deaths in 24h and ended up being put on the red list by France. Amid this crisis, the end of which still seems far away, the Health Minister Faouzi Mehdi (pictured) got fired by Prime Minister Hichem Mechichi. The announcement was made via an official government...

The World Bank announced an investment of $470 million to accelerate the development of the Lomé-Ouagadougou-Niamey road corridor. The grant, decided by the World Bank’s Board last July 15,  will be provided by the International Development Association (IDA) to improve the quality of transport and transit services along this 1,065 km corridor, which links the three capitals of Togo,...

The African Export-Import Bank (Afreximbank) announced a three-year partnership with Portugal’s National Association of Young Entrepreneurs (ANJE - Associação Nacional de Jovens Empresários) to support Africa’s fashion apparel and textile manufacturing sector. The partnership is in line with Afreximbank’s Creative Africa Nexus (CANEX) program launched last year to organize a series of...

Côte d'Ivoire will benefit from $300 million granted by the International Finance Corporation (IFC) to develop its healthcare sector. The deal was inked last July 16. The funds will be disbursed under the IFC's Africa Medical Equipment Facility (AMEF). They will be used to support the development of private players in the Ivorian medical sector, in particular by financing small and...

While braving a global pandemic (COVID-19) in the middle of 2020, Zanzibar launched its vision 2050 – a document laying out the semi-autonomous archipelago’s ambitious goal of attaining high middle income status by the year 2050. The island plans to achieve this through building a diverse and resilient economy in three 10-year periods. The blue economy agenda is set to carry a majority of the...

Chaka, a Nigerian technology solutions company on a mission to enable every business and person in Africa to access borderless digital investment and wealth management opportunities, has today closed a $1.5 million pre-seed funding round. The round was led by Breyer Capital with participation from 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures. With the...

Following the imprisonment of Jacob Zuma for contempt of court, riots started in Kwazulu-Natal and chaos spread throughout the country. For President Cyril Ramaphosa, the unrest was planned and organized by a few partially identified individuals. South African democracy had never been so badly treated since the end of apartheid: a week of looting and violence, 212 deaths and considerable damage....

After the first closing of its fund focused on Africa and Asia, the asset management company BluePeak Private Capital announces the conclusion of an investment in Tunisia’s hygiene industry. BluePeak Private Capital has approved a $16 million investment in Tunisian Sotupa. The mezzanine fund manager is committed to supporting the international growth and development of Sotupa, which...

Since the covid-19 outbreak, the challenges facing African countries, which already struggle with terrorism and poverty, have been exacerbated. To cope with these challenges while pursuing its development plan, the continent has embarked on an active strategy to mobilize external financing. Côte d'Ivoire hosted yesterday July 15 a high-level meeting on the twentieth replenishment of the...