Inspiring Africa's Sustainable Business Growth
SOUTH AFRICA – Hlayisani Capital, a private equity and venture capital firm, has announced that it has bought a minority stake in Tractor Media Holdings, one of South Africa’s leading digital outdoor media owners. Hlayisani Capital said the funds will be channelled towards the acceleration of Tractor’s aggressive digital out of home (DOOH) growth strategy. The funds will also allow…
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MOROCCO – The Moroccan outsourcing and customer relationship expert Outsourcia Group has announced the acquisition of Tunisia’s specialist in Offshore Customer Relationship Management, PhoneAct. The acquisition, financed by SPE Capital, the largest stakeholder at Outsourcia, led to the transfer of some shares from Outsourcia to the founder of PhoneAct Mehdi Ayed, making him a new partner in the Moroccan group.…
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AFRICA – Mastercard, a payment-processing corporation, has partnered with Cellulant, a Pan African payments company, to allow Cellulant customers across Africa to shop and pay online with global merchants wherever Mastercard is accepted. The Mastercard virtual payment solution, linked to Cellulant’s payment gateway – Tingg, can unlock a host of opportunities for consumers, whether they have a bank account or…
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AFRICA – Shelter Afrique, a pan-African finance institution, has announced plans to develop a Sovereign Lending product that will supplement its traditional products that attend to both the demand and supply sides of the housing value chain. Shelter Afrique Ag. Managing Director Kingsley Muwowo said Africa’s GDP contraction resulting from the Covid-19 pandemic was an alarming sign of a slump…
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KENYA – State-controlled National Social Security Fund (NSSF) has bought an additional 18.8 million shares worth KSh703 million (US$5.8m) in listed tier-one lender KCB Group in the third quarter of this year, the latest in a series of incremental purchases. According to KCB, NSSF raised its ownership to 291.35 million shares in the bank at the end of September equivalent…
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KENYA – Acorn Holdings, through its subsidiary Acorn Project (Two) LLP, has announced its intention to exercise an early redemption option of KSh800.2 million (US$6.6m) of its KSh5.7 billion (US$47m) green bond, being a portion of outstanding notes issued under the bond program. According to Acorn, the redemption will be effected on or before the 31st of this month, at…
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