Category: LATEST NEWS

UAE’s dnata announces major investment in Zanzibar aviation industry

Editor

ZANZIBAR – Dubai National Air Travel Agency commonly known as dnata, which provides aircraft ground handling, cargo, travel, and flight catering services has signed a concession agreement with the government of Zanzibar, along with Emirates Leisure Retail and SEGAP, a joint venture between airport infrastructure and operations specialists Egis, and private equity fund manager AIIM. Under the partnership, dnata will oversee the operations of Zanzibar Abeid Amani Karume International Airport’s (ZNZ) newly-built international terminal (T3), with SEGAP supporting the Zanzibar Airports Authority (ZAA) in a management capacity. Emirates Leisure Retail…

Read More

Air Tanzania resumes Dar-es-Salaam – Nairobi flights

Editor

TANZANIA – Air Tanzania has resumed two daily flights between Dar es Salaam and Nairobi after 20 years since it ceased operations. The national carrier says it will operate an Airbus A220-300 aircraft on the new route as Nairobi becomes a strategic route in African plans. Air Tanzania Chief Executive Officer Ladislaus Matindi said the restart of the Dar-Nairobi route has been prompted by improved bilateral relations, increased trade between the two countries, inter-governmental relations, tourism, an extension of familial and friendly ties, and the need to connect the region…

Read More

Delivery platform ShapShap secures investment from GreenTec Capital

Editor

NIGERIA – ShapShap, a delivery platform that specializes in deliveries in Africa’s fragmented logistics industry, has received an undisclosed investment sum from GreenTec Capital Partners, an Africa-focused venture capital firm. ShapShap is currently providing last-mile deliveries in Abuja and Lagos, Nigeria, using an all-in-one platform that connects customers, drivers, and merchants. GreenTec will help ShapShap through the VC’s Venture Building concept under the terms of the agreement. The startup’s significant traction drew GreenTec’s attention. More than 30,000 orders have been processed for more than 4,000 consumers on ShapShap platform, and…

Read More

Norfund and UKCI fund BEE investments into 700 MW wind portfolio in South Africa

Editor

SOUTH AFRICA – Norwegian development finance institution, Norfund, and the UK Climate Investments (UKCI) have announced that they will jointly finance the 40% equity participation of H1 Holdings and Pele Green Energy into a 700 MW portfolio of onshore wind farms in South Africa.  A joint venture of H1 Holdings and Pele Green Energy will invest in wind energy projects alongside Enel Green Power. The deal is one of South Africa’s largest renewable energy equity deals valued at around US$100 million. Enel Green Power is set to retain a 60%…

Read More

AfDB and Rockefeller Foundation sign US$1.6b deal for African renewables

Editor

AFRICA – The African Development Bank (AFDB) and the Rockefeller Foundation have signed a Letter of Intent to collaborate on decentralized renewable energy (DRE) solutions and grid-based energy transition for the African continent.  The partnership was signed just a few days after the launch of the Global Energy Alliance for People and Planet (GEAPP) at COP26. With catalytic capital from The Rockefeller Foundation, IKEA Foundation and the Bezos Earth Fund, and a consortium of nearly two dozen public and private sector partners, GEAPP aims to accelerate an equitable energy transition in 60+…

Read More

Britam Holdings CEO Tavaziva Madzinga quits after 10 months at the helm

Editor

KENYA – Insurance Group Britam Holdings has announced the planned exit of its managing director, Tavaziva Madzinga, after just 10 months in office in its latest executive shake-up. Mr. Madzinga will officially leave Britam in April 2022, giving the company enough time to find his replacement. The announcement comes barely 10 months after he joined the company on 1st February 2021 following the retirement of Benson Wairegi who had served in the company for more than four decades. The insurer has also announced the appointment of Charles Njuguna as the deputy managing…

Read More

Co-operative Bank gets US$56m from EIB for SME lending

Editor

KENYA – Co-operative Bank has received KSh6.3 billion (US$56 million) from the European Investment Bank (EIB) for onward lending to small businesses to help them recover from the impact of the Covid-19 pandemic. Co-operative Bank Chief Executive Officer Gideon Muriuki said micro, small and medium-sized (MSME) firms with up to 250 workers can apply for the loan. The long-term loan will be repayable in seven years and will assist MSMEs to fund the acquisition of tangible business assets, working capital, development of distribution networks innovation and business research. Mr. Muriuki…

Read More

Legaltech platform Hekouky raises pre-seed funding round by Nama Ventures

Editor

EGYPT – Hekouky, the Legaltech platform that incorporates companies and registers trademarks for entrepreneurs and business owners, has announced that it has raised an undisclosed amount in a pre-seed funding round by ​Nama Ventures. Nama Ventures is a Riyadh, Saudi Arabia-based pre-seed venture capital fund focused on backing startups innovation in the MENA region. Hekouky was founded by three co-founders with diverse backgrounds and experiences:  Hala Riad, Mayy Abdelbary and Fatima Khalil. Mayy Abdelbary is the former CTO of Paynas, with 15 years of experience, 9 of which were in…

Read More

CDC Group renames, adds Southeast Asia as its new focus area

Editor

GLOBAL – CDC Group, the UK’s development finance institution (DFI), has added Southeast Asia and the broader Indo-Pacific region as its new focus area for business expansion as it renames itself as British International Investment beginning April 2022. It has also appointed former Google executive Diana Layfield as its new chairperson. Layfield is the first woman to be appointed as chairperson and will be taking charge from Graham Wrigley, who will be stepping down early in 2022 after a transitional period. The British impact investor’s five-year strategy is now “tilting…

Read More

Ardagh Group acquires Consol Holdings Proprietary for US$635m

Editor

SOUTH AFRICA – Ardagh Group S.A. has announced the acquisition of Consol Holdings Proprietary Limited, the leading producer of glass packaging on the African continent, for an equity value of ZAR10.1 billion (US$635 million). Completion of the acquisition is subject to certain conditions, including regulatory approvals that are expected to be obtained in the second quarter of 2022. “We are very pleased to expand our European and North America presence in glass packaging into Africa with the acquisition of Consol, a high-quality business, led by an excellent management team,” Ardagh…

Read More