Inspiring Sustainable Business in Africa
KENYA – African Development Centre (ADC), Microsoft’s premier engineering hub, has announced the appointment of Catherine Muraga as its Managing Director effective 01 June 2022. Since its inception in Nairobi in 2019, the ADC has grown to over 450 full-time employees working in areas such as software engineering, machine learning, data science, market research, infrastructure, and much more. The ADC…
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ZIMBABWE – First Capital Bank Limited in partnership with the European Investment Bank (EIB) and the European Union (EU) have secured a developmental line of credit to the tune of EUR 12.5 million (US$13.7m). The funding is set to develop eligible investment projects undertaken by Small to Medium Enterprises (SMEs) and MidCap companies under First Capital Bank Limited locally. “We…
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KENYA – Kenya’s telco Safaricom and global digital payments leader Visa have partnered to launch a virtual payment card to enable Mpesa users make digital payments across the globe. The M-PESA GlobalPay Visa Virtual card will enable Kenyans to make cashless payments at VISA merchant locations across the globe. The M-PESA GlobalPay Visa Virtual Card will initially be available to…
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SOUTH AFRICA – Enko Education, a network of African international schools, has announced the closing of its US$5.8 million Series B round. The project is led by Adiwale Partners and followed by the Steyn Capital family office as well as existing institutional investors Proparco, Investisseurs et Partenaires and Liquid Africa, and prominent figures in international education and entrepreneurship in Africa.…
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SOUTH AFRICA – Satrix, a provider of index-tracking investment products and exchange traded funds (ETFs) in South Africa, has appointed Fikile Mbhokota as its new Chief Executive Officer (CEO). Mbhokota is a seasoned leader in the financial services industry with over 18 years in the industry. Her experience ranges from indexation and active investment management to consulting, operations, research, strategy,…
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SOUTH AFRICA – Shopstar, the South African e-commerce platform, has announced that it has secured third-round funding from Launch Africa Ventures, signalling the next phase in its strategy to scale. The exact amount was not disclosed. Shopstar enables local entrepreneurs to build online stores. Launch Africa Ventures is known for its early investment into and backing of over 60 high-potential…
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AFRICA – Technology company DarkPulse has announced the appointment of Ehab M. Eldemeri as Director for Africa and the Gulf Cooperation Council (GCC) countries. DarkPulse is focused on the manufacture, sale, installation, and monitoring of laser sensing systems which provide a data stream of critical metrics for assessing the health and security of the infrastructure. Eldemeri is a successful entrepreneur,…
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MAURITANIA – The Mauritanian government has signed a US$40 billion framework agreement with CWP Global, an energy group based in Newcastle, Australia to develop a mega green hydrogen project. Mauritania is set to host one of the largest green hydrogen projects on the African continent. Called “AMAN”, it is being led by CWP Global, an energy group based in Newcastle,…
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EGYPT – The UAE’s GrubTech, a platform that digitizes the back-end operations of restaurants and cloud kitchens, has expanded to Egypt, further diversifying its regional operations. Founded in 2019 by Mohamed Al-Fayed, Mohamed Hamidi, and Omar Al-Refaie, Grubtech is a cloud and dark kitchen solutions platform that enables its clients to digitize operations and management of online food orders. The…
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WEST AFRICA – Constant Ventures, a subsidiary of Constant Group is raising a US$100 million venture capital fund to invest across a range of technology startups with a focus on financial inclusion, education, and healthcare across West Africa. The Investee companies of this fundraising will be based in Nigeria and Ghana at first, as Constant Ventures aims to expand funding…
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