Growth capital investor Injaro Investment Advisors to invest in Ghanian business

GHANA – Injaro Investment Advisors, a Ghanaian growth capital investor, has announced the successful first closing of the Injaro Ghana Venture Capital Fund (IGVCF), its inaugural Ghana Cedi denominated fund with GHS127 million (US$12.27m) in total commitments. IGVCF is targeting total capital commitments of up to GHS200 million (US$19.32m) and remains open for additional commitments. It is the first fund…

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Agritech startup Farmerline secures US$1.5m investment from Oikocredit

GHANA – Farmerline, a Ghanaian agritech startup, announced the second close of a pre-Series A investment raise with an additional US$1.5 million investment from Dutch social impact investor Oikocredit. The investment is part of a total funding round worth US$14.4 million raised by Farmerline from investors including FMO and ARAF. Farmerline supports smallholder farmers and agribusinesses with digital tools, logistics,…

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Online brokerage firm Bamboo officially launches its services in Ghana

GHANA – Bamboo, a Nigerian online brokerage firm that allows Africans to invest real time in local and foreign asset classes, has announced its official launch in Ghana. Bamboo offers a wide range of premium investing content and education tools tailored to users who are new to investing in U.S. stocks. “We believe strongly that all Africans should earn a…

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Fintech startup SecondSTAX raises US$1.6m pre-seed funding to expand internationally

GHANA – SecondSTAX, a platform that connects institutional investors like pension funds and broker-dealers with international markets, has raised US$1.6 million in pre-seed funding from private investors and VC firms like LoftyInc Capital, Orbit54, and STEMeIn. According to co-founder and CEO Eugene Tawiah, this money will be used to expand SecondSTAX’s reach internationally by the end of the year. It…

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Ghana signs MoU with ATI to promote access to reliable, clean, and affordable electricity

GHANA – The Government of Ghana has signed a Memorandum of Understanding (MoU) with the African Trade Insurance Agency (ATI) for the rollout of the Regional Liquidity Support Facility (RLSF) within the country. The MoU is in line with the government’s mission to promote access to reliable, clean, and affordable electricity. RLSF, a joint initiative of ATI, the KfW Development…

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Jumia deploys use of drones in Ghana to stream logistic operations, cut emissions

Jumia deploys use of drones in Ghana to stream logistic operations, cut emissions GHANA – Jumia, the leading e-commerce platform in Africa, has partnered with Zipline, the world’s largest instant delivery service, to deploy on-demand drone-delivery for e-commerce in Ghana, with plans to expand the service to Nigeria and Côte d’Ivoire in the near future. The collaboration will integrate Zipline’s…

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Ghanaian Agribusiness value chains to benefit from US$15m financing issued by Fidelity Bank

GHANA – Fidelity Bank, a commercial bank in Ghana has received US$15 million loan from eco.business Fund, an impact investment fund advised by Finance in Motion, to finance agribusinesses in the country. The senior loan will be on-lent to a wide range of agribusinesses that cover the entire value chain – from food production to logistics and supply chains across…

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Fintech startup Float acquires accounting service provider Accounteer

GHANA – Fintech startup Float, a cash flow management and spend platform for businesses in Africa, has completed a full acquisition of Accounteer, a Nigerian subscription-based cloud-based accounting service, for an undisclosed amount.   Accounteer combines bookkeeping, tax prep, and financial advisory services all in one platform for African businesses This deal is coming 8 months after Float closed its US$17…

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Asante Gold Corporation acquires Kinross’ interest in Chirano Gold Mine in Ghana

GHANA – Asante Gold Corporation, a gold production, exploration and development company, has entered into a share purchase agreement with Kinross Gold Corporation, a Canadian-based global senior gold mining company, to acquire Kinross’ 90% interest in the Chirano Gold Mine in Ghana. “With the completion of the sale of Chirano, we are focused on generating value from our rebalanced portfolio,…

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Fintech company Zeepay raises US$10m to expand its remittance to wallet business

GHANA – Zeepay, a Ghanaian mobile financial services company that specialises in offering integrated mobile payment services, has raised US$10 million to expand its rapidly expanding remittance to wallet business. The Series A.5 medium term debt raise was led by Symbiotics BV with US$9 million and a participation from Mauritius-based fund investing US$1 million, for a total of US$10 million.…

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