Benin secures US$27.5m from JICA to finance Couffo’s drinking water project

BENIN – The Japanese government has awarded a grant of 16 billion CFA francs (US$27.50m) to Benin, through its international cooperation agency, JICA. The funding will enable work to be carried out on the project to strengthen drinking water supply systems in the departments of Couffo and Plateau. The funds will enable Beninese authorities to finance the Project to Strengthen Drinking Water Supply Systems in the Departments of Couffo and Plateau, which is under development. Under this project, the Beninese government has chosen to exploit underground water resources to supply…

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Transcorp appoints Joseph Adegunwa as new Chief Financial Officer

NIGERIA – The Board of Transnational Corporation of Nigeria Plc has announced the appointment of Mr Joseph Adegunwa, as the new Chief Financial Officer of the Company, effective from November 15, 2021. This is according to a statement signed by the Group Company Secretary, Kofo Olokun-Olawoyin, and filed with the Nigerian Exchange Limited (NGX). Joseph Adegunwa is an astute finance expert with experience in Finance, Audit, Advisory, Strategy and Investment Management. He has worked in different sectors including but not limited to banking, real estate, advisory and investment management, among…

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VoxCroft Analytics raises US$2m Series A funding from Knife Capital

SOUTH AFRICA – VoxCroft Analytics, an open-source intelligence company, has raised close to US$2 million in Series A funding from Knife Capital, a South African venture capital company specialized in helping brands build a global presence. VoxCroft Analytics will use the funding to expedite its already-rapid expansion in the United States and other international markets. Founded in 2018, VoxCroft specialises in open-source intelligence (OSINT), an oft-neglected source of insight differentiated from the other forms of intelligence such as human intelligence (HUMINT) or signals intelligence (SIGINT) in that it relies on…

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Africa Data Centres secures US$253m to expand its business

SOUTH AFRICA – Africa Data Centres, the Carrier-neutral co-location data centre provider, has secured an investment of almost R4 billion (US$253.85m) to expand its two Johannesburg-based data centres from 30MW to 100MW of IT load, reports IT Web. The company owns and operates Africa’s largest network of interconnected, carrier- and cloud-neutral data centre facilities. It is securing land to build a third data centre location in Johannesburg (and its fourth in SA) within the next two years. This will be its largest location – generating 50MW. Africa Data Centres forms…

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EFG Hermes Holding acquires controlling stake in Arab Investment Bank

EGYPT – EFG Hermes Holding, an Egypt-based investment bank, has finalized its acquisition of a 51% stake in the Arab Investment Bank (aiBANK), marking a strategic entry into the fast-growing and solid Egyptian commercial banking sector. The transaction will see EFG Hermes Holding assume control of aiBANK, with TSFE Financial Services & Fintech Subfund, a subfund fully owned by the Sovereign Fund of Egypt, EFG Hermes Holding’s valued partner, acquiring a 25% stake. “The closing of this landmark transaction with our esteemed partner TSFE will drive the transformation of our…

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Fintech startup KIWE closes first investment round to drive up its growth

EGYPT – KIWE, an Egyptian fintech startup, has closed its first investment round, to drive the startup’s growth by utilising the offerings of its investors. The round was led by dfin Holding with participation from EFG Hermes, Marakez for Development, and a group of angel investors. The investment will be used “We are strong believers of empowering freelancers and business owners by helping them identify their targets, level up their customer experience and accept online and offline payments,” part of a statement by the company said. “Our vision is for…

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