Inspiring Leadership & Sustainable Business Transformation in Africa
EGYPT – Sharwa, a social ecommerce platform, has announced the completion of a US$2 million pre-seed investment round to further build the technological platform and expand the team. Nuwa Capital and Hambro Perks Oryx Fund co-led the round, joined by many key angel investors. Founded in 2022 by Alaa Shalaby, Hassan Elshourbagi and Mohamed Hanafy, Sharwa offers customers low prices…
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MALAWI – European Investment Bank (EIB) and First Capital Bank (FCB) have signed a 7-year €12.5 million (US$12.3m) loan facility to support sustainable agriculture for socioeconomic development and poverty alleviation in Malawi. The financing is part of the long-term EUR 25 million (US$24.7m) scheme aimed to accelerate agricultural investment in the country. The facility, which has been provided through the…
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NIGERIA – The European Investment Bank (EIB) has agreed to €100 million (US$99.63m) financing with MTN Nigeria Communications Plc (MTN Nigeria) to support the telecommunications company’s network expansion programme. The investment will aid the acceleration of 4G coverage in Nigeria and expand broadband access in line with MTN’s Ambition 2025 strategy. Karl Toriola, Chief Executive Officer, MTN Nigeria, said, “We are committed to leading digital solutions for Nigeria’s progress. This…
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MOROCCO – Bank of Africa – BMCE Group (BOA) has secured €13 million (US$12.95m) financial package from the European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union (EU), to support Morocco’s green transition. Bank of Africa and its leasing subsidiary, Maghrebail, will extend the financing – of which €9.75 million (US$9.71m) will be provided by the EBRD and €3.25…
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KENYA – KCB Bank Kenya has set aside KShs250 billion (US$2.06b) to fund women entrepreneurs in the next five years, cementing the Bank’s role in catalyzing economic growth. In a newly revamped women offering, the Bank will extend the funding to women-led and owned Small and Medium Enterprises (SMEs) across the country. To unlock this, KCB Bank has already…
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SOUTH AFRICA – Agrarius Sustainability Engineered (Agrarius), has listed as Africa’s first Shari’ah-compliant sustainability-linked Sukuk (Sukuk) on the Johannesburg Stock Exchange (JSE). Agrarius is a Polish company which has been introducing products for agricultural and horticultural crops to the market since 2006. The listing of the Sukuk constitutes the inaugural issuance by the Company under its ZAR10 billion (US$551.5m) Shari’ah compliant sustainability-related asset…
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SOUTH AFRICA – In line with its pursuit of brewing a better world, Heineken South Africa has officially launched its recently installed solar power plant at its Sedibeng, Midvaal brewery. The plant boasts of 14,000 panels having a significant 6.5MW of power, targeted to provide 30% of the brewery’s electricity demand. Unlike many solar plants in South Africa constructed in…
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ZIMBABWE – The Infrastructure Development Bank of Zimbabwe (IDBZ) has joined forces with Norsad Capital, a provider of private credit to scalable businesses focused on growth to provide much-needed capital to businesses, which can be used to promote economic growth and improve livelihoods. “Our agreement means that we will introduce each other to potential transactions and seek to collaborate and share…
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KENYA – Glovo, a leading multi-category delivery platform, has launched its third micro fulfillment center in Nairobi, Kenya, as the company expands its ‘Q-commerce’ division. Q-Commerce means that consumers can use Glovo to order from their favorite supermarkets and neighbourhood stores. The first micro fulfillment center was launched in June 2021, while the second was opened in June 2022, now…
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CAMEROON – The Radisson Blu hotel group has laid the foundation stone for the construction of a complex in Yaoundé, the Cameroonian capital. Funds for this project, valued at CFA37 billion (US$54.87m), will be raised from the U.S. International Development Finance Corporation (DFC). However, the local project carrier -BrightView Bethesda SA- offered Cameroonians the opportunity to become partners in…
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