UAE’s dnata announces major investment in Zanzibar aviation industry

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…

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Delivery platform ShapShap secures investment from GreenTec Capital

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…

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DriveWealth partners Chipper Cash to enable affordable access to investing

UGANDA – DriveWealth, LLC, a provider fractional investing and embedded finance, has announced a partnership with Chipper Cash, a fintech startup enabling peer-to-peer money transfers and cross-border payments for nearly four million users. DriveWealth’s real-time fractional trading technology and API-based brokerage infrastructure will enable the Ugandan population to gain affordable access to investing in U.S. equities for the first time. Approximately 66% of Sub-Saharan Africa’s population did not have access to a bank account in 2020, according to the World Bank. Through its partnership with DriveWealth, Chipper Cash is empowering…

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Kimberly-Clark invests US$45m to manufacture Huggies Diapers in Kenya

KENYA – International Diaper Manufacturer, Kimberly-Clark, has signed an KSh5 billion (US$45m) contract deal to kick-start the production of Huggies diapers in a newly established factory in Thika. The firm entered an agreement with a local manufacturer, Sai Pharmaceuticals, to begin manufacturing and distribution of the diapers in the Kenyan market, in a move meant to invest in home-grown solutions Speaking during the announcement of the agreement, Kimberly Clark Business Development Director Middle East and Africa, Kevin Achieng elaborated that the move to manufacture the brand locally was aimed at…

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PraxiLabs’ Khadija Elbedweihy emerges winner of 2021 Africa’s Business Heroes

AFRICA – Africa’s Business Heroes (ABH), a flagship philanthropic programme established by the Jack Ma Foundation to help foster an inclusive and vibrant entrepreneurial ecosystem in Africa, has announced its winners for 2021 with US$1.5 million in grant funding awarded to the top 10 finalists. The Top 10 represent seven African countries, with 80% operating businesses in rural areas and half of the finalists are female. The top three Africa’s Business Heroes for 2021 were; Khadija Mohamed Elbedweihy – Founder, PraxiLabs (Egypt) who was 1st therefore winning US$300,000; Ikenna Nzewi…

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Fintech startup KIWE closes first investment round to drive up its growth

EGYPT – KIWE, an Egyptian fintech startup, has closed its first investment round, to drive the startup’s growth by utilising the offerings of its investors. The round was led by dfin Holding with participation from EFG Hermes, Marakez for Development, and a group of angel investors. The investment will be used “We are strong believers of empowering freelancers and business owners by helping them identify their targets, level up their customer experience and accept online and offline payments,” part of a statement by the company said. “Our vision is for…

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Air Tanzania ups regional competition with order of four new planes

TANZANIA – Boeing and the government of Tanzania have announced an order for a 787-8 Dreamliner, a 767-300 freighter, and two 737 MAX jets at the 2021 Dubai Airshow to boost the national carrier’s capability in Africa and abroad. The airplanes will be operated by Air Tanzania, the national flag carrier of Tanzania, to expand service from the country to new markets across Africa, Asia, and Europe. The order, valued at more than US$726 million at list prices, was previously unidentified on the Boeing Orders and Deliveries website. Air Tanzania…

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Logistics-tech company T40 secures investment from VC firm GreenTec Capital

NIGERIA – Berlin-based venture capital firm GreenTec Capital Partners has invested an undisclosed amount in Nigerian intercity transport- and logistics-tech company T40 that is building solutions to assist mobility service providers in providing better service to their clients and increasing income. T40 has developed solutions designed to help mobility vendors attract and retain customers with the company’s point-of-sale consoles and logistics platform. It also offers entertainment centres that can be personalized to improve ride quality and provide an additional marketing channel. “With our digitized products, transport companies can achieve more…

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Malawi commissions its first solar PV plant at 60MW

MALAWI – The government of Malawi has officially launched the 60 MW Salima Solar PV plant that was developed by JCM Matswani Solar Corp Limited, a Special Purpose Vehicle (SPV) owned by the Canadian Independent Power Producer (IPP) JCM Power and InfraCo Africa Limited. The facility becomes Malawi’s first commercial solar project to connect to the grid. Situated 75km east of Malawi’s capital, Lilongwe, the new solar energy facility will supply power to Malawi’s state-owned electricity utility, Electricity Supply Corporation of Malawi Limited (ESCOM), via a long-term power purchase agreement (PPA). The African Trade Insurance…

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UK Climate Investment and Norfund in US$100m renewable energy equity deal in South Africa

SOUTH AFRICA – UK Climate Investment (UKCI) and Norfund have announced that they will finance what will become one of South Africa’s largest renewable energy equity deal valued at around US$100 million, reports ESI Africa. The financing is a joint venture between H1 Holdings and Pele Green Energy for a 40% equity participation in a 700MW portfolio of onshore wind farms. Both partners will invest alongside Enel Green Power who will retain a 60% ownership interest. UKCI and Norfund’s commitment is aligned with the UN’s Sustainable Development Goal number seven…

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