Inspiring Sustainable Business in Africa
KENYA – Solar Sister, Inc. and LivelyHoods Kenya, a U.S based non-profit organization and a Kenyan social enterprise, have merged in a move expected to bring economic opportunity and clean energy to millions of people in sub-Saharan Africa. Solar Sister is an innovative social enterprise with the mission to achieve sustainable, scalable impact at the nexus of women’s empowerment, energy…
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MOZAMBIQUE – The African Development Bank (AfDB) is supporting the implementation of the Mphanda Nkuwa mega hydroelectric project in western Mozambique. The pan-African bank is committed to providing advisory services for the implementation of this hydroelectric project which will have a strong environmental and social impact. After the International Finance Corporation (IFC), the subsidiary of the World Bank Group, it…
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KENYA – FedEx Express, a company focused on transportation, e-commerce and services, has announced plans to introduce the first regularly scheduled service flight to Kenya in a bid to enhance its services to and from Africa. The weekly scheduled flight travels will start from Memphis (United States) to Dubai (United Arab Emirates), onto Johannesburg (South Africa) and Nairobi (Kenya), before…
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NAMIBIA – JABU, a last-mile distribution e-commerce firm based in Namibia, has raised US$15 million in a Series A round led by Tiger Global. Tiger Global’s second investment in the B2B e-commerce industry comes after backing Wasoko in its mammoth Series B round, which was completed in March. It’s also worth mentioning that this transaction took place before Tiger Global’s…
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AFRICA – Untapped Global, an investment and technology company, has raised a US$10.3 million debt and equity pre-seed round to help it scale its smart asset financing model, which finances revenue-generating assets for entrepreneurs and SMEs in Africa and Latin America. Based in San Francisco, Africa, and Europe with an all-female investment leadership team, Untapped Global aims to empower the…
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EGYPT – Egypt-based on-demand delivery startup Gooo Delivery has closed an undisclosed pre-seed round to scale its services in Egypt and beyond. Founded in 2020, Gooo Delivery has a goal of providing point-to-point delivery services using mobile applications. Users can order food, medications, and groceries from a network of partner stores, which are then collected by Gooo runners and delivered…
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MENA – Payments technology company Mastercard has partnered with Musafir to take travel bookings originating in the Middle East and North Africa, to new heights. The exclusive partnership will digitize end-to-end payment flows and launch new innovative payment products with attractive travel benefits to both consumers and corporates. According to an analysis by the Mastercard Economics Institute, if flight booking…
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EGYPT – The African Development Bank (AfDB) has raised its projections for Egypt’s real GDP growth to 5.7 percent in 2022 – up from the 4.7 percent it expected in 2021 – before slowing down to 5.1 percent in 2023. The report was published as the AfDB’s 57th annual meetings are currently held in Accra under the theme ‘Achieving Climate…
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EGYPT – Hassan Allam Construction (HAC), a subsidiary of Hassan Allam Holding, in partnership with French company Veolia has completed work on the Senbellawein wastewater treatment plant in the Dakahlia governorate of Egypt. The contract was won in 2018 for the engineering, procurement, and construction (EPC) of a plant capable of handling 33,000 m3 of effluent per day. The plant…
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AFRICA – The British International Investment (BII), has signed a US$100 million risk-sharing facility for supply chain finance with Citi, a global leader in trade and supply chain finance solutions. The new facility will provide systemic liquidity and help Citi grow its supply chain finance product across Africa. The facility will enable Citi to increase supply chain finance facilities to…
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