October 2022 | CEO Business Africa

MTN Nigeria secures US$99m from EIB for its 4G network expansion programme

October 29, 2022October 29, 2022

NIGERIA – The European Investment Bank (EIB) has agreed to €100 million (US$99.63m) financing with MTN Nigeria Communications Plc (MTN Nigeria) to support the telecommunications company’s network expansion programme. The investment will aid the acceleration of 4G coverage in Nigeria and expand broadband access in line with MTN’s Ambition 2025 strategy. Karl Toriola, Chief Executive Officer, MTN Nigeria, said, “We are committed to leading digital solutions for Nigeria’s progress. This…

BOA Morocco secures US$12m from EBRD to support green energy transition

October 29, 2022October 29, 2022

MOROCCO – Bank of Africa – BMCE Group (BOA) has secured €13 million (US$12.95m) financial package from the European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union (EU), to support Morocco’s green transition. Bank of Africa and its leasing subsidiary, Maghrebail, will extend the financing – of which €9.75 million (US$9.71m) will be provided by the EBRD and €3.25…

Women entrepreneurs to benefit from US$2B KCB funding for next five years

October 29, 2022October 29, 2022

KENYA – KCB Bank Kenya has set aside KShs250 billion (US$2.06b) to fund women entrepreneurs in the next five years, cementing the Bank’s role in catalyzing economic growth. In a newly revamped women offering, the Bank will extend the funding to women-led and owned Small and Medium Enterprises (SMEs) across the country. To unlock this, KCB Bank has already…

Agricultural company Agrarius lists first Shari’ah-compliant sustainability-linked Sukuk on JSE

October 28, 2022October 28, 2022

SOUTH AFRICA – Agrarius Sustainability Engineered (Agrarius), has listed as Africa’s first Shari’ah-compliant sustainability-linked Sukuk (Sukuk) on the Johannesburg Stock Exchange (JSE). Agrarius is a Polish company which has been introducing products for agricultural and horticultural crops to the market since 2006. The listing of the Sukuk constitutes the inaugural issuance by the Company under its ZAR10 billion (US$551.5m) Shari’ah compliant sustainability-related asset…

Heineken goes green with official launch of solar power plant in South Africa

October 28, 2022October 28, 2022

SOUTH AFRICA – In line with its pursuit of brewing a better world, Heineken South Africa has officially launched its recently installed solar power plant at its Sedibeng, Midvaal brewery. The plant boasts of 14,000 panels having a significant 6.5MW of power, targeted to provide 30% of the brewery’s electricity demand. Unlike many solar plants in South Africa constructed in…

IDZB partners Norsad Capital for sustainable business growth in Zimbabwe

October 28, 2022October 28, 2022

ZIMBABWE – The Infrastructure Development Bank of Zimbabwe (IDBZ) has joined forces with Norsad Capital, a provider of private credit to scalable businesses focused on growth to provide much-needed capital to businesses, which can be used to promote economic growth and improve livelihoods. “Our agreement means that we will introduce each other to potential transactions and seek to collaborate and share…

Delivery platform Glovo launches its third micro fulfilment center in Kenya

October 28, 2022October 28, 2022

KENYA – Glovo, a leading multi-category delivery platform, has launched its third micro fulfillment center in Nairobi, Kenya, as the company expands its ‘Q-commerce’ division. Q-Commerce means that consumers can use Glovo to order from their favorite supermarkets and neighbourhood stores. The first micro fulfillment center was launched in June 2021, while the second was opened in June 2022, now…

Radisson Blu launches construction of its US$54m hotel in Cameroon’s capital

October 28, 2022October 28, 2022

CAMEROON – The Radisson Blu hotel group has laid the foundation stone for the construction of a complex in Yaoundé, the Cameroonian capital. Funds for this project, valued at CFA37 billion (US$54.87m), will be raised from the U.S. International Development Finance Corporation (DFC). However, the local project carrier -BrightView Bethesda SA- offered Cameroonians the opportunity to become partners in…

MYDAWA taps US$1.2M from Gates Foundation to boost HIV fight in Kenya

October 28, 2022October 28, 2022

KENYA – Kenya’s online pharmacy MYDAWA has secured US$1.2 million in funding from the Bill and Melinda Gates Foundation to launch the first Kenyan telehealth solution tailored to boost Human Immunodeficiency Virus (HIV) prevention efforts. The project will be co-financed by the Organization of American States (OAS) in partnership with the University of Washington, Jomo Kenyatta University of Agriculture and…

Cryptocurrency platform BitOasis partners Mastercard to launch crypto card programmes

October 27, 2022October 27, 2022

MENA – BitOasis, the cryptocurrency platform for the Middle East & North Africa (MENA) has partnered with Mastercard to launch a series of crypto card programmes in the region that will facilitate day-to-day usage of cryptocurrencies at points of sale and across e-commerce platforms. BitOasis customers will be able to convert their cryptocurrency holdings to fiat currency, allowing the consumer…