Although the refugee crisis in South Sudan is one of the largest in Africa, it was one of the least funded over the past year. With the help of 102 partners, UNHCR wants to raise more funds to support the refugees. The UN refugee agency (UNHCR) and its partners need $1.2 billion to assist South Sudanese refugees and local communities in five countries on the continent. The UN body announced...

New Veld, an Africa-focused investment platform set up in 2016 by U.S. insurer Prudential and Mauritius-based private equity firm LeapFrog plans to buy a 33% minority stake in Alexander Forbes. The latter is a South African financial services and pension fund management company. The buyers bid the equivalent of $50 million in local currency. “The transaction builds upon Prudential...

African Guarantee Fund for Small and Medium-sized Enterprises (AGF) has signed an equity guarantee agreement with Empower New Energy (Empower) paving the way for long-term renewable energy investments for commercial and industrial businesses across Africa. The Norwegian Agency for Development Cooperation (Norad) has also provided partial support to the costs of the guarantee, with the instrument...

The Africa Investment Forum boardrooms have drawn $32.8 billion in investment interest in bankable projects.  Unveiling the results of the Forum’s virtual boardroom sessions on Thursday, African Development Bank Group President Dr. Akinwumi A. Adesina told the 500 project sponsors, investors, deal brokers and government representatives from around the world who took part in them:...

Demand for telecom services is growing in Africa, especially in rural areas. To tap into the opportunity, operators are multiplying their investments. As part of this strategy, MTN South Africa has just announced a new investment of R700 million ($46.4 million) to upgrade its existing network infrastructure and deploy new ones in KwaZulu-Natal. The initiative includes 4G and 5G expansion and the...

IFC is planning another investment in KMRC, a Kenyan-based mortgage refinancing company. Along with other investors, the institution is helping the company raise $93 million. The International Finance Corporation (IFC) has participated in a $37 million medium-term debt issue by Kenya Mortgage Refinance Company (KMRC). This contribution enabled the beneficiary to raise the equivalent of...

After a two-year long pandemic, Bolloré Transport & Logistics will be back at the Parc des Expositions in Villepinte on the occasion of the Transport and Logistics Innovation Week (SITL). From 5 to 8 April 2022, the company will be pleased to meet with clients and partners to present its expertise as well as its latest innovations in terms of logistics. “Recycle”- Bolloré Logistics...

Côte d'Ivoire's inward FDI stock rose from $2,483 billion in 2000 to $12,237 billion in 2020, according to UNCTAD estimates. With nearly 30% of the total FDI stock of the WAEMU, the country is the largest in the West African franc zone and the third-largest in ECOWAS. From $2,483 billion in 2000, the stock almost tripled to $6,978 billion in 2010 before rising...

Two years after raising $14 million, Wasoko, formerly known as Sokowatch, has taken a new step in its development by opening its capital to new investors. The company has completed the largest fundraising for an e-commerce company in Africa. Kenyan e-commerce company Sokowatch, renamed Wasoko, has reported raising $125 million in Series B funding. The deal, which values the company...

Broadband connectivity and technology solutions provider Paratus Namibia announced the upcoming inauguration of its neutral data center -Armada Data Center- in August 2022. The facility will be the first and largest neutral data center in the country, with 240 racks installed over 734 m2. It is valued at $8.2 million. “The Paratus Armada DC will store and protect client data 24/7; house...