Allison+Partners acquires African-tech-focused PR agency C. Moore Media

AFRICA – Allison+Partners has acquired C. Moore Media International Public Relations (CMM), a boutique independent PR agency specializing in the U.S., UK and African markets. Allison+Partners is a global marketing and communications agency operating in more than 50 markets around the world. The addition of CMM augments Allison+Partners’ deep technology expertise, working for some of the world’s leading tech companies,…

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Ghanaian Agribusiness value chains to benefit from US$15m financing issued by Fidelity Bank

GHANA – Fidelity Bank, a commercial bank in Ghana has received US$15 million loan from eco.business Fund, an impact investment fund advised by Finance in Motion, to finance agribusinesses in the country. The senior loan will be on-lent to a wide range of agribusinesses that cover the entire value chain – from food production to logistics and supply chains across…

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Three foreign firms get approval to convert loans into equity shares in Wananchi Group

KENYA – The Competition Authority of Kenya (CAK) has approved the conversion of loans advanced by three foreign firms to internet and pay TV provider, Wananchi Group into equity shares. The companies, Triple Hold Co Limited, Liberty Global Europe 2 Limited (Liberty), and Altice Africa S.A.R.L (Altice) will get certain controlling rights of Wananchi Group. “The transaction involves the three…

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Payment platform Duplo raises US$4m in seed capital for its expansion plans

NIGERIA – Duplo, a B2B payment platform that digitises payment processes, has acquired US$4.3 million in seed capital to launch new products and grow into new industry sectors. Liquid2 Ventures, Soma Capital, Tribe Capital, Commerce Ventures, Basecamp Fund, and Y Combinator were among the investors in the seed round. Oui Capital also re-invested after previously investing in the round. With…

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NCBA Group invests US$16.6m in Tanzanian Subsidiary to increase capital

TANZANIA – NCBA Group, a financial services conglomerate in East and West Africa, has announced that it is investing KSh2 billion (US$16.6 million) in its Tanzanian subsidiary this year to shore up its capital which was eroded by losses and a rise in defaults due to the economic fallout from the Covid-19 pandemic. The new capital injection into NCBA Bank…

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Mobile money service provider Kacha Digital joins Ethiopia’s national switch operator

ETHIOPIA – Kacha Digital Financial Service, Ethiopia’s first private mobile money service provider, has joined EthSwitch, the national switch operator. EthSwitch will enable Kacha interoperability with the existing financial and payment industry network, allowing any transaction, authorization, and clearing of payments and transfers to and from existing financial services providers, such as banks and MFIs, to be performed through a…

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AFC partners Japan’s Mizuho Bank to drive sustainable economic growth in Africa

AFRICA – Africa Finance Corporation (AFC), the infrastructure solutions provider in Africa, has signed a Memorandum of Understanding (MoU) with Mizuho Bank, a global bank with one of the largest customer bases in Japan. Through this partnership AFC and Mizuho will collaborate on project & infrastructure finance, trade finance and treasury to drive sustainable economic growth in Africa and Asia.…

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Mobility fintech company Moove partners MUFG and Suzuki to promote financial inclusion

AFRICA – Moove, the world’s first mobility fintech, has announced the signing of a Memorandum of Understanding [MoU] with MUFG, one of the world’s leading financial groups and Suzuki, one of the world’s leading suppliers of vehicles to mobility businesses. Through this MoU, Moove, which provides revenue-based financing to mobility entrepreneurs, aims to advance financial inclusion and job creation as…

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