German’s Stihl invests US$4m in regional hub to support small-scale farmers in East Africa

KENYA – German outdoor power tools manufacturer Stihl has injected KSh500 million (US$4.17m) into its new Nairobi hub in a bid to support small-scale farmers acquire farming equipment in Kenya and East Africa at large. The manufacturer of various agro equipment and forest equipment noted that with a majority of Africans engaging in agriculture as their source of livelihood, the…

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South Africa’s Nyanza Light Metals secures investment from Africa Finance Corporation

SOUTH AFRICA – Africa Finance Corporation (AFC) has made an investment in natural resources company Nyanza Light Metals, owner of a plant in South Africa forecast to produce 80,000 tonnes per annum (tpa) of titanium dioxide pigment (TiO2). AFC acted as co-mandated lead arranger, co-funder and co-developer along with African Export-Import Bank (Afreximbank) on the project. Arkein Capital Partners and…

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Cynthia Karuri-Kropac joins Safaricom as Chief Enterprise Business Officer

KENYA – Safaricom, a mobile network operator, has announced the appointment of Cynthia Karuri-Kropac as its Chief Enterprise Business Officer effective 1st September 2022. Cynthia joins Safaricom from US telco AT&T, where she has been the Senior Director, Enterprise Mobile and IoT Technologies, since 2019. Her career at AT&T. spanned 19 years, having held various management and leadership roles. “With…

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Telecoms company Telkom to provide US$0.3m funds for small businesses

SOUTH AFRICA – Telkom, a telecommunication provider, has launched a lending facility, targeting businesses with loans of up to R5 million (US$0.3m), joining its peers that are also providing funding options to small and medium enterprises. The telco unveiled the lending platform, inviting qualifying businesses to apply online, saying it is eliminating old-style bank processes, as fast funding for businesses…

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Nigerian ecommerce startup SABI partners Vumele to launch its services in South Africa

SOUTH AFRICA – SABI, an early-stage start-up with ambitious plans to aid millions of merchants across Africa, Sabi, has opened an office in Johannesburg, South Africa to tap into the US$9 billion informal economy. Moreover, the Nigerian startup has partnered with Vumele, a South African technology platform, to extend its reach and services to South Africa’s informal economy. Sabi helps…

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