Solar power is getting cheaper by the day, which has caused many to view it as a key component in the renewable energy revolution. Yet, the deployment of solar power technologies has been lagging behind in some emerging markets due to various layers of risks perceived by the private sector in relation to financing solar projects, especially in Africa. According to Antoine Vagneur-Jones, research...

Mining company Magnis Energy, active on the Nachu graphite project in Tanzania, announced this week it has secured an $8 million investment from Negma Group. According to the agreement, Middle East-based Negma has committed to purchase Magnis shares for a maximum of $700,000 per month over 12 months. It also has an option to subscribe for an additional $4 million of shares. “At...

Construction Company Eiffage announced the launch of a platform dedicated to carbon and climate in Senegal. Called Sekoya Africa, the initiative aims to support the continent's energy transition, according to Missira Keita, the company's director of social responsibility. Sekoya Africa will facilitate the establishment of a low-carbon industrial sector adapted to the continent's climate...

Tunisian startup accelerator and early-stage fund Anava Seed Fund will receive an equity investment of $1 million from the International Finance Corporation (IFC), the World Bank’s private arm. Half of the money ($500,000) will be provided by the Women Entrepreneurs Finance Initiative (We-Fi), a program hosted by the World Bank Group which empowers women-led businesses in developing...

Kaizene, a London and Abidjan based company specialised in capacity building-coaching and infrastructure conference, announces the 6th edition of conference on Building Construction works and Infrastructure Conference that will be hosted in partnership with the Transport Ministry of Ethiopia. This edition will take place on October 10th-11th at the United Nations Conference Center in Addis...

MaxAB, an Egyptian online food and grocery platform, has raised $6.2 million from a group of local and foreign investors, Africa Business Communities reports. Venture capital firm Beco Capital co-led this investment alongside 4DX Ventures, another venture capital firm based in Ghana and the United States. US Endure Capital, the venture capital company 500 Startups, the Moroccan investment...

LimeVest Partners, an Egyptian private equity firm focused on mid-cap companies, secures a $10 million commitment from the US financial institution Overseas Private Investment Corporation (OPIC).This operation, which is the US company’s first investment in a private equity firm in Egypt, will be injected into LVP Health Holding Ltd, an investment vehicle managed by LimeVest, to support...

The Sino-French company Weidong Cloud Education Group announced it will support the Congolese TIC’Sup project which aims to digitize higher education in the country. A partnership was signed in that regard by Congo’s higher education minister, Bruno Jean Richard Itoua, and Weidong’s Vice President. Under the terms of the agreement, Weidong is expected to provide teachers and students at...

The French Development Agency (AFD) is giving the Republic of Benin $41.5 million to renovate the lacustrine town of Ganvié. The agreement was inked Thursday by Benin’s minister of finance, Romuald Wadagni, the French Ambassador to the country, Véronique Brumeaux, and the AFD’s MD, Adrien Haye.The sum is split into about $37.6 million of credit and $3.8 million of grant. With...

Snapplify, a South African e-learning startup, raised $2 million to expand its activity and enter new markets, on the continent and beyond. The money was mobilized from Knife Capital, a South African investment fund dedicated to innovative projects, and investment fund Hlayisani Growth Fund. “We are excited to have Knife Capital and Hlayisani on board to enable this vision, particularly...