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Inspiring Africa's Sustainable Business Growth
TANZANIA – Cellulant, a Pan-African payments company, has teamed up with NALA, a Tanzania based fintech company, to power remittance payments from the United Kingdom and United States into Kenya, Uganda, Rwanda, Tanzania and Ghana. Besides Official Direct Assistance (ODA), remittances make up the second-largest source of external resources for Sub-Saharan Africa. In 2019, approximately US$48 billion was remitted in…
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AFRICA – Sun King, a solar home systems provider, has closed a US$260 million funding round to expand its operations in Asia and Africa. The funding raised from several investors will help accelerate rural electrification in Asia and sub-Saharan Africa. This is one of the largest deals in the solar home systems segment in the world, and in Africa in…
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RWANDA – Co-Creation Hub, in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation is excited to announce the nine startups selected for the Fintech Incubation Programme. The Fintech Innovation Project consists of the Fintech Incubation Programme and other developmental programmes. The programme is part of the ongoing efforts to turn Rwanda into the Fintech hub of…
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MOROCCO – Morocco’s Badr Bouslikhane heads Jumia Morocco, following the promotion of Larbi Alaoui Belrhiti to general manager of Jumia Express Logistics. During his tenure, Larbi Alaoui Belrhiti succeeded in making Jumia one of the leaders in e-commerce in Morocco, by democratizing online purchases there. He will now oversee the company’s operations on the continent. Jumia Express Logistics offers “last…
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KENYA – Eden Life, Africa’s first home concierge services scheduling platform, has acquired Lynk, the former technology company connecting informal workers to job opportunities across Kenya. The strategic acquisition, brokered by Enza Capital, sees Eden Life expand into Kenya and leverages Lynk’s successful platform that connected informal workers with end users through automated job matching and standardised processes. Launched in…
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NIGERIA – ARM Labs, a Lagos-based innovation program focused on helping fintech start-ups has partnered with global accelerator and investment firm Techstars to launch a start-up accelerator program in Lagos. The new accelerator program, ARM Labs Lagos Techstars Accelerator Program will focus on investing in early-stage fintech and proptech companies based in Africa. Founded in 2006, Techstars provides access to…
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CÔTE D’IVOIRE – International transport and logistics operator, Bolloré Transport & Logistics Cote d’Ivoire is set to open a new logistics facility close to Abidjan airport. Intended to strengthen its offer of services related to the import and export of goods by air, this new infrastructure will have required 18 months of work and an investment of 3.4 billion CFA…
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ZIMBABWE – Government of Zimbabwe and development partners have injected at least US$51 million towards the Small Holder Irrigation Revitalisation Programme (SIRP) to rural farmers across the country. The funds were mobilized from several program funding partners, as well as the Zimbabwean treasury. SIRP National Project Coordinator, Odreck Mukokera, speaking during the commissioning of Mayorca Irrigation Scheme in Silobela, said…
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MALAWI – Ethanol Company (EthCo), Malawi’s ethanol distiller, has announced the construction of a plant that will convert waste from its facilities into fertilizer and electricity. The goal is to reduce its impact on the environment. The project was announced by Lusubilo Chakaniza, the managing director of Ethanol Company (EthCo). It involves the construction of a unit dedicated to the…
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KENYA – Hilton Hotel, a five star hotel in the centre of Nairobi city, has announced that it will close its doors indefinitely in December and lay off an unspecified number of workers, underlining the troubles of hotels in the wake of Covid-19 travel slump. The hotel, which is owned 40.57 percent by the government, has pointed to other factors…
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