Copia Global deepens focus on regional growth with new executive appoints

KENYA – Copia Global, the fast-growing B2C e-Commerce platform operating in East Africa, has undertaken several executives appointments to beef up its management as it continues to pursue its expansion strategy. The mobile commerce platform has promoted its Chief Financial Officer (CFO) Dominic Dimba to Managing Director, of East Africa. As the former CFO of the organization’s Kenya division, Dominic…

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Vodacom South Africa to use solar energy production at Midrand campus

SOUTH AFRICA – As part of its sustainable strategy around energy management, Vodacom SA’s Midrand campus is being fitted with solar photovoltaic (PV) panels which will allow the headquarters to generate around 10.8 gigawatt-hours (GWh) of its own clean power every year – roughly 21% of its power consumption. “Everything we do is driven by our purpose to shape a…

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BNPL Lipa Later partners Lami Technologies to offer its consumers affordable credit insurance

AFRICA – Buy now, pay later (BNPL) company Lipa Later has announced a partnership with Lami Technologies insurtech to offer its consumers access to reliable and affordable insurance against all products purchased using the Lipa Later platform. Founded in 2017, Lipa Later is a trusted BNPL company operating in Kenya, Rwanda, Uganda and Nigeria, with the sole purpose of providing…

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Ascent Rift Valley Fund exits medical diagnostic laboratory services Medpharm

ETHIOPIA – Ascent Rift Valley Fund Ltd (ARVF) has announced that it has exited as a shareholder of Medpharm Holdings Africa (Medpharm), a provider of medical diagnostic laboratory services in Ethiopia. ARVF has sold its stake in the company to Cerba Lancet Africa (CLA), a network of clinical pathology and medical diagnosis in Africa with 170 sites, across Sub-Saharan Africa.…

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Nigerian FSDH Merchant Bank receives US$25m trade finance facility from AfDB

NIGERIA – FSDH Merchant Bank of Nigeria has received a US$25m trade finance facility from the African Development Bank Group (AfDB) to spur over US$200m in agriculture, manufacturing, and energy transactions in the next 3 years. The Board of Directors of the AfDB has approved a US$15 million trade finance line of credit and US$10 million transaction guarantee for the merchant…

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Twiga Foods partners with Isuzu, NCBA to beef up logistics operations across the region

KENYA – Kenyan-based technology food distribution platform, Twiga Foods, has entered into a strategic partnership with automobile manufacturer Isuzu EA and commercial bank NCBA Bank to boost affordability and safe delivery of fresh produce to retailers across the region. The partnership that seeks to see up to 300 Isuzu trucks being released into the marketplace in phases, has flagged off…

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Access Holdings to acquire controlling stake in Angola’s Finibanco Bank

ANGOLA – Access Holdings Plc, the holding company of Access Bank Pl, has announced its planned acquisition of a majority equity stake of 51 per cent in Finibanco, an Angolan Bank. Finibanco is a full-service commercial bank with over 20 branches and around US$300 million in total assets in Angola. Sunday Ekwochi, the company secretary said that the transaction would…

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DPI sells its minority stake in Egyptian retailer B.TECH to Saudi Public Investment Fund

EGYPT – Development Partners International (DPI) has sold ADP II’s 33.4% stake in Egyptian retailer B.TECH to the Saudi Egyptian Investment Company (SEIC), a wholly-owned subsidiary of the Saudi Public Investment Fund (PIF). ADP II’s exit comes following a successful partnership with B.TECH, during which the business has accelerated its digital transformation efforts and cemented its position as the leading…

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Pan African Resources concludes acquisition of Mogale Gold and Mintails Mining SA

SOUTH AFRICA – Pan African Resources PLC, a mid-tier African-focused gold producer, has announced that it has concluded its acquisition of Mogale Gold Pty Ltd and Mintails’ SA Soweto Cluster Pty Ltd. The Rosebank-headquartered gold producer entered into agreements to buy these mines from Mintails Mining SA Pty Ltd for ZAR50.0 million (US$2.8m), in November 2020. Mintails Mining SA, which…

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Ugandan minibus ridesharing service Easy Matatu secures investment from Renew Capital

UGANDA – Renew Capital, an impact investment firm focused on developing small and medium-sized enterprises (SMEs) in Africa via its network of investors, the Renew Capital Angels, has made a new investment in Easy Matatu, a Ugandan minibus ridesharing service. The funding will be used to expand Easy Matatu’s end-to-end technological platform, which allows customers to reserve a seat on…

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