Zener SA secures financing from IFC to promote cleaner energy solutions in Togo

TOGO – IFC, a member of the World Bank, has announced a financing package for Zener SA, a leading integrated energy provider, to help reduce the use of polluting fuels for cooking in the country and mitigate climate change. The EUR16.2 million (US$16.50m) IFC-led financing package for Zener, which operates across Togo’s full liquified petroleum gas (LPG) value chain, comprises…

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Insurance firm Britam appoints Tom Gitogo as Managing Director

KENYA – Britam, an insurance group, has appointed Tom Gitogo as the new managing director, marking a return to the firm he once served as finance director. Mr Gitogo takes over from acting MD Charles Njuguna on September 1. Mr Njuguna, the finance director, took over from Tavaziva Madzinga in April, following his exit after just 10 months in office.…

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VC firm Oui Capital completes US$30m second fund to support Sub-Saharan African firms

NIGERIA – Oui Capital, an Africa-focused venture capital firm based in Lagos and Massachusetts, has announced the completion of the first close of its US$30 million second fund, Oui Capital Mentors Fund II, as part of its efforts to strengthen its footprint on the continent. Angur Nagpal’s Vibe Capital, D Global Ventures, Boston-based One Way Ventures, and Ground Squirrel Ventures…

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Global investor Actis to acquire controlling stake in solar energy provider Yellow Door Energy

MEA – Actis, a global investor in sustainable infrastructure, is set to acquire a controlling stake in the distributed commercial and industrial (C&I) solar platform, Yellow Door Energy Limited (YDE). YDE’s platform is in the Middle East and Africa region with around 200MW of secured production capacity. Closing of the transaction remains subject to obtaining the relevant regulatory approvals. YDE…

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Cloud banking platform Mambu secures investment from 4G Capital

AFRICA – Mambu, a leading cloud banking platform, has secured an investment from 4G Capital, a neobank powering micro and small business growth in Africa. 4G Capital provides unsecured business loans along with enterprise training and access to digital solutions. Mambu’s platform will enable the neobank to scale and expedite its digital journey to meet customer business needs. “Our investment…

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Kenyan KCB Group enters DRC with the acquisition of TMB Bank

DRC – KCB Group, the Kenyan financial services holding company, is set to acquire a majority stake in DRC-based TMB Bank, marking its entry into the country with a population of over 93 million people. The transaction is expected to close by the end of the third quarter of 2022, subject to regulatory, shareholders, and other approvals. KCB will acquire…

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MetroFibre Networx secures US$297m debt finance from Standard Bank

SOUTH AFRICA – MetroFibre Networx, a South African company that provides uncapped household and enterprise fibre network coverage, has secured R5 billion (US$297 million) in debt financing from Standard Bank to expand its fibre-optic data network rollout across the country. The financing, according to Standard Bank, will be used to expand MetroFibre’s connectivity into homes and businesses in under-serviced communities…

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