EBRD, CTF allocate US$54m to repower Morocco’s wind farm

MOROCCO – The European Bank for Reconstruction and Development (EBRD) and Climate Investment Fund (CTF) are providing €53.5 million (US$54.28m) to repower Africa’s oldest wind farm located in Morocco in an effort to support the country’s transition to a low-carbon economy. The wind farm mis located in Koudia Al Baida, Tlat Taghramt region near Tangier. It is expected to increase…

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E-commerce marketplace The Fashion Kingdom closes US$2.6m seed round

EGYPT – The Fashion Kingdom (TFK), Egypt’s first curated e-commerce marketplace for fashion, beauty, and home products with a 360-degree value proposition for companies, has announced the successful conclusion of a US$2.6 million Seed fundraising round. The first corporate venture capital firm in Egypt, CVentures, and the top early-stage venture capital firm in MENA, A15, jointly led the Seed funding…

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Ecommerce company QNET launches first African training centre in Ghana

GHANA – QNET, an e-commerce based direct selling company, has established its first-ever training centre in the Sub-Saharan Africa region in collaboration with Botsumtwi Limited. Located in East Legon, Accra, this new training centre will see the company bringing world-class training workshops and educational programmes for its community of distributors to participate in to enhance their management skills, increase business…

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Airtel Money Kenya appoints Rose Mambo as its chairperson following its split

KENYA – The Board of Directors of Airtel Money Kenya Limited has appointed Rose Mambo as its chairperson. The appointment follows the separation of the mobile money business from Airtel Networks Kenya and transfer to Airtel Money Kenya Limited. Rose has over 26 years’ extensive leadership experience in capital markets, governance, company law, and administration both in Government and the…

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Family Bank, World Navi sign financing deal for import of second-hand vehicles

KENYA – Family Bank, a commercial bank, and World Navi, a leading Japanese exporter of used units to Africa and Europe, have signed a deal that will see customers access up to 80 per cent asset financing and 100 per cent import duty financing as they import second hand vehicles. The partnership will enable individuals, motor vehicle dealers and SMEs…

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