Sahel Capital, an investment firm focusing on food and agriculture in sub-Saharan Africa, announced its first operation of the current year and the fourth since its establishment in 2021. The Sefaa fund, managed by Sahel Capital, provided a loan facility to Tanzanian agri-food company, Rogathe Dairy Farm Products. On July 15, Sahel Capital revealed that it granted Rogathe Dairy Farm Products a...

The African Development Bank Group has appointed Ousmane Fall, a Senegalese national, as Director of Non-Sovereign Operations and Private Sector, effective from the 1st of August 2023. Fall takes on this new role with 17 years of experience. He spent the last four years at the International Finance Corporation (IFC), where he provided strategic leadership on country planning and ministerial...

The GIMpay digital platform aims to support a unique digital ecosystem to foster financial innovation in the UEMOA zone. GIM-UEMOA, the international organization in charge of the interbank electronic payment system for the West African Economic and Monetary Union (UEMOA) zone, has joined forces with Backbase, the pioneer of engagement banking, to develop the Super App, GIMpay. The GIMpay...

After months of review, the European Investment Bank (EIB) has approved the financing project for Acre Impact Capital’s first fund. The European financial institution is committed to supporting vital infrastructure projects on the continent through this initiative. On July 17, Acre Impact Capital, a climate-focused infrastructure project financier in emerging markets, announced it...

The rapid digital transformation in Africa has prompted companies to seek greater computing capabilities to support their operations. Consequently, there has been a significant increase in data center investments by major players such as Huawei, Google, Microsoft, Teraco, OADC, and Raxio. Last week, wholesale infrastructure provider West Indian Ocean Cable Company (WIOCC) signed a shareholder...

Togo Cellulaire and Moov Africa currently dominate the Togolese mobile telephony market. These two operators have faced repeated admonitions from the telecom regulator for failing to meet regulatory thresholds for service quality and coverage. In a positive development, Togo is set to implement mobile number portability by the end of 2023. Kadiri Ouro-Agoro, Legal and Consumer Protection...

Norfund announced its inaugural direct investments in the African plastic recycling sector. The Norwegian development finance institution is supporting Nigerian company Wecyclers with a convertible loan and Ghanaian company Miniplast with an equity investment. On July 13, Norfund unveiled two financing operations aimed at bolstering the plastic recycling industry in West Africa. Wecyclers...

Competition is high in the Beninese mobile telephony market. Market leader MTN is stepping up investments to bolster its position against rivals Moov Africa Bénin and Celtiis. On July 12, MTN Benin signed a partnership agreement with Ericsson to utilize solar energy to expand its coverage to 29 rural sites. The solution will also include managed services, providing preventive and corrective...

Access Holdings, a Nigerian financial group, completed the acquisition of five subsidiaries from Standard Chartered. This helps expand its operations to a 15th African country. This strategic move sees Access Holdings entering the Tanzanian banking market for the first time, while also strengthening its presence in Angola, Cameroon, Gambia, Sierra Leone, and Tanzania. The acquisition is subject...

During its latest media briefing in early June, ReconAfrica revealed the progress of its exploration work in Namibia's Kavango Basin. On July 12, ReconAfrica provided an update on its petroleum and gas exploration activities in Namibia's Kavango Basin. The Canadian company, already involved in exploration in the region, has been authorized by the Namibian Ministry of Environment, Forestry, and...