An alliance of multilateral development banks and development partners pledged over $17 billion toward addressing rising hunger and improving food security in Africa. This occurred at a two-day dialogue held on 29th-30th April under the theme Feeding Africa. During the forum, seventeen African leaders signed a commitment to improving agricultural production. This, in turn, will double the...

Trinity International, pioneering law firm in the field of transactions in the energy and infrastructure sectors in Africa and other emerging countries, is accelerating its development and welcoming Stéphane Brabant as senior partner, and Lucien Bou Chaaya as partner. Stéphane Brabant and Lucien Bou Chaaya are experts in projects and transactions across the African continent, with a strong...

South African Absa Bank, former subsidiary of British Barclays Bank, is about to obtain up to $150 million in loan from the International Finance Corporation to support green projects. ICF says this is Africa's first certified green loan. "Africa's green transition requires considerable mobilization of funds [...] The agreement with IFC bolsters our funding available for green projects and...

Jubilee Holdings, the biggest insurance company in East Africa, finalizes the sale of its Kenyan subsidiary. The buyer is German Allianz which thus becomes the majority shareholder in Jubilee General Insurance Company with 66% of the stake (1.5 million shares). Active in 12 African countries via Allianz Africa, Allianz has already obtained all the green lights for this acquisition. The operation...

In 2020, Twiga Foods, a B2B marketplace platform, and Komaza, a tech-driven forestry business, raised Sh6.3 billion - respectively Sh3.2 billion and Sh3.1 billion. This is out of the Sh19.1 billion raised by Kenyan startups that year, according to the Disrupt Africa Tech Startups 2020 Funding report. “This is the largest amount of funding ever achieved by a single country (ed. note: in...

The value of the Nestlé CI shares jumped by 7.23% on the Abidjan-based regional stock market BRVM yesterday May 5. This is the seventh consecutive day of trading which closed with an increase of more than 7%, according to data collected by Ecofin Agency. Since January 1, 2021, its progression has increased to 293% and 500%, compared to its value 12 months ago. The second top performer on BRVM...

Over the first three months of 2021, Southern African tech startups raised a total of $147.7 million through 25 transactions. Of this group, two South African startups stood out, capturing more than half of the overall investment. These top performers are the fully digital bank TymeBank, which raised $109 million last February, and the fintech Adumo, which mobilized $15 million...

The Reserve Bank of Zimbabwe says inflation in the country is expected to be 55% by July, against 873.53% in the same period in 2020. In a note published on May 4, the Central Bank’s Monetary Policy Committee (MPC) revealed that the inflation rate dropped by 240.1% in March this year to 194% in April. This downward trend started in August last year following the implementation of a monetary...

The governor of the Bank of Tanzania Prof Florens Logan has recommended that Stamico, the State Mining Corporation, authorize Tanzania to start refining its gold to meet international standards. This urgency was prompted after the governor visited Mwanza’s plant (Mwanza Precious Minerals Limited), which refined 47 kilograms of gold on its first day of operations on April 21, 2020. The plant...

The unpaid telephone bill that TelOne, Zimbabwe's incumbent telecom operator, is claiming from the government has reached $2.6 million as of March 31. According to the company's financial report for the first quarter of 2021, this amount represents more than 60% of the total debt owed to TelOne, which now stands at $4.3 million. TelOne says the money owed by the government is weighing...