Mkobo Microfinance bank partners Glovo to empower Nigerians with income-generating assets

NIGERIA – Nigeria’s technology-enabled asset finance company, Mkobo Microfinance bank, has announced its partnership with Glovo to help finance motorcycles for young unemployed Nigerians, interested in becoming couriers. In line with Mkobo’s mission to improve the lives of economically active Africans, the financing will be done through the Lifeline Asset Finance (LAF) program. Under the LAF program, Mkobo finances income-generating…

Read More

KCB Bank Kenya partners Mobex to enhance international remittances

KENYA – KCB Bank Kenya has partnered with Mobex to give its customers an opportunity to seamlessly receive funds from the diaspora to their accounts in Kenya. Mobex is an affiliate company of Terra-Pay Group, a UK-headquartered digital payments infrastructure and solutions provider. With TerraPay onboard, KCB Bank seeks to fortify its position as a key player in strengthening the…

Read More

Barak Asset Recovery Limited set to acquire controlling stake in Savannah Cement

KENYA – Barak Asset Recovery Limited, a Mauritian firm and also has operations in Seychelles, is set to acquire a 60% controlling stake in Kenyan cement producer Savannah Cement, owned by Seruji Limited. In filings made at the Comesa Competition Commission as the firms seek regulatory approvals for the deal, the firm described its principal business as an investment holding.…

Read More

Solar energy company KarmSolar secures US$2.39m funding for its battery storage system

EGYPT – KarmSolar, a leading solar energy company and multi-utility enterprise in Egypt, has secured EGP47 million (US$2.39m) in funding for the first financed solar Power Purchase Agreement (PPA) battery storage system in Egypt. The funding was from Qatar National Bank ALAHLI (QNB ALAHLI) with an advisory led by Ezdaher Financial Advisory, an Egypt-based debt advisory firm. This is part…

Read More

Fintech Yellow Card receives first-ever African crypto licence

BOTSWANA – Yellow Card, a Pan-African cryptocurrency exchange, becomes the first cryptocurrency company on the continent to be granted a Virtual Asset Service Provider (VASP) licence to operate in Botswana. The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority [NBFIRA] on the 29th of September 2022 and…

Read More