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Climate tech VC firm Satgana closes its US$29m fund to invest in Africa and Europe

AFRICA – Satgana, a climate tech VC firm has announced the first closing of its fund, with a EUR30 million (US$29 million) target size, and plans investments in Africa and Europe. Headquartered in Luxembourg, Satgana is a climate tech VC fund, with the ambition to invest in startups providing technological solutions to the climate emergency. Focused on climate technologies, Satgana…

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Flourish Ventures launches Africa-focused pre-seed investment platform Madica

AFRICA – Flourish Ventures, a venture capital firm located in the United States, has created Madica, a pan-African investment initiative that intends to provide cash, technological assistance, and coaching to underrepresented entrepreneurs throughout the continent. The sector-agnostic initiative focuses on pre-seed stage technology firms, which is where most ideas fail. The initiative has set aside US$6 million for investment in…

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African Finance Corporation receives US$389m Samurai loan to expand funding sources

AFRICA – Africa Finance Corporation (AFC), the infrastructure solutions provider in Africa, has closed a US$389 million dual currency Samurai term loan facility, split into US$382 million and JPY ¥1 billion (US$6.80m). The transaction marks AFC’s second foray into the Japanese capital markets, following an inaugural Samurai loan facility in 2019, when the Corporation raised US$233 million and JPY1 billion.…

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Vodacom Business Africa expands its SD-WAN solution into Africa

AFRICA – Vodacom Business Africa has announced plans to launch its software-defined wide area networking (SD-WAN) solution to clients in all 47 operating countries across its African footprint after a successful trial in South Africa. SD-WAN is emerging as the go-to solution in business, delivering unmatched performance and cost benefits, including increased agility and quality of service, better reliability and…

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Empower New Energy set to develop solar projects in Africa’s Commercial and industrial sector

AFRICA – Empower New Energy, a Norwegian solar development and investment company, has signed an agreement to raise US$74 million from a consortium led by Climate Fund Managers to develop solar projects in the Africa Commercial and industrial (C&I) sector. The partnership will develop, finance, own and operate an initial 150MW of solar projects over the next three years. Norfund…

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Fintech FairMoney partners Oradian to accelerate market growth

AFRICA – FairMoney, a credit-led mobile banking platform for emerging markets in Africa and Asia, has partnered with Oradian, a cloud-based core banking system, to power its next stage of growth and product innovation. Oradian services over 10 million banking customers, working with more than 50 tech lenders, banks and financing companies in 13 countries across Africa and Asia. Their…

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African Women Impact Fund has been launched with a US$60 million commitment

AFRICA – African Women Impact Fund (AWIF) Initiatives has been launched with a commitment of US$60 million. These funds will provide capital to existing women owners and women fund managers across different asset classes and African regions. The AWIF is an Initiative of the Economic Commission of Africa (ECA) together with its partners: UN Women, the Office of the Special…

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African-focused investment holding company Maris closes US$12m financing round with Proparco

AFRICA – Maris, an investment holding company with more than US$100m under management across nine sub-Saharan African countries, has received a US$12m financing from France’s development finance institution, Proparco. The climate-aligned investment targets renewable energy, agriculture, forestry and business services and will help Maris build its diverse portfolio of businesses across Africa. It will support a range of Maris operating…

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Barclays expands private banking operations in Africa, targeting US$2 trillion market

AFRICA – Barclays, a multinational universal bank, is expanding private-banking services in Africa, looking to target the continent’s US$2 trillion net worth market. The British lender has hired nine bankers from Credit Suisse based in mainly Dubai, London and Zurich after agreeing a deal to handle clients referred by the Swiss rival, Barclays Private Bank CEO Jean-Christophe Gerard said. “Barclays…

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Ecobank launches RapidCollect™ for seamless payments across Africa with one account

AFRICA – The pan African banking group, Ecobank, has launched RapidCollect™ to link financial transactions seamlessly across the continent through a single bank account. With this one account, business customers can receive funds instantly from their clients in their home country and across Ecobank’s pan-African network; Ecobank business customers can now make instant automated reconciliation leveraging Ecobank’s trusted technology. RapidCollect™…

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