Marriott International appoints Richard Collins as Area Vice President for Sub-Saharan Africa

AFRICA – Marriott International, a multinational hospitality company, has appointed Richard Collins as its Area Vice President for Sub-Saharan Africa. In this new role, Collins oversees the company’s managed operations in the region and will be based out of the company’s Cape Town office. He takes on his new position following the announcement of Volker Heiden’s retirement, effective from the…

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AgDevCo secures US$90m to continue to grow its investment activities in agriculture

SUB-SAHARAN AFRICA – AgDevCo, a specialist investor in early-stage African agribusinesses, has announced a US$90 million package of new funding from the CDC Group, Norfund and DFC which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa. This is in addition to the announcement of supplementary funding of up to US$5.4 million from CDC,…

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Netflix commits US$1m towards creative scholarships in Africa

SUB–SAHARAN AFRICA – Netflix, the global entertainment streaming service, has announced a commitment of US$1 million towards the newly-established Netflix Creative Equity Scholarship Fund (CESF) for film and TV students in Sub-Saharan Africa. The scholarship fund forms part of Netflix’s global Netflix Creative Equity Fund launched in 2021 to be allocated to various initiatives over the next 5 years with…

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DFI FinDev Canada invests US$13m in Energy Entrepreneurs Growth Fund

SUB-SAHARAN AFRICA – FinDev Canada has injected US$13 million into Energy Entrepreneurs Growth Fund (EEGF), which invests in early and growth-stage energy start-ups in sub-Saharan Africa with part of the funding going toward increasing access to clean energy for off-grid households and businesses in the region. The US$120 million EEGF, which was founded in 2019 by the Shell Foundation —…

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Winch Energy launches crowdfunding campaign for off-grid clean energy projects in sub-Saharan Africa

SUB-SAHARAN AFRICA – Off-grid renewable energy provider Winch Energy has opened a crowdfunding campaign to fund solar off-grid development to connect people in Sierra Leone and Uganda to clean power. This particular campaign allows individuals to invest in Africa’s growing clean energy market via Crowdcube starting at US$13.21. The London-based company has already received an investment from shareholder Total Eren.…

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KfW inks US$55.3m financing deal to decentralize electricity supply in Sub-Saharan Africa

SUB-SHARAN AFRICA – German state-owned investment and development bank (KfW), on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ),  signed a €49 million (US$55.3 million) financing agreement for the Clean Energy and Energy Inclusion for Africa (CEI Africa) foundation. The aim of the foundation set up by KfW is to supply climate-friendly electricity to people in sparsely populated…

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IFC partners with Absa to boost trade finance in Sub-Saharan Africa

SUB-SAHARAN AFRICA – The International Finance Corporation (IFC), HAS welcomed Absa Bank to its Global Trade Liquidity Program (GTLP) to boost access to trade finance in sub-Saharan Africa, especially in low income and fragile countries, supporting a vital driver of growth that has been strained by the COVID-19 pandemic. Through a combined investment of US$250 million, IFC and Absa Bank,…

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YouTube appoints Addy Awofisayo as Head of Music, Sub-Saharan Africa

SUB-SAHARAN AFRICA –  YouTube has announced the appointment of Addy Awofisayo as Head of Music, Sub-Saharan Africa for YouTube and YouTube Music. Addy will be in charge of YouTube Music’s business and partnership teams in Sub-Saharan Africa, and she will report to the Head of Music, YouTube EMEA. Addy Awofisayo, incoming Head of Music, Sub-Saharan Africa said: “Music is a powerful…

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CDC commits US$50m to expand digital connectivity in Sub-Saharan Africa

SUB-SAHARAN AFRICA – CDC Group, the UK’s development finance institution (DFI) and impact investor, has announced commitments totalling US$50.9 million to expand digital infrastructure, boost rural connectivity and accelerate digital technology access for rural and underserved communities across sub-Saharan Africa. The capital will support the continued growth of the ICT sector in the continent, helping to boost the development of…

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Facebook Marketplace rolls out to 37 countries across Sub-Saharan Africa

SUB-SAHARAN AFRICA – Facebook has announced the launch of Marketplace to 37 countries and territories in Sub-Saharan Africa. Currently available in South Africa, Ethiopia, Kenya and Nigeria, Marketplace is a convenient destination where people can discover, buy and sell items from others in their local communities, simply by tapping on the Marketplace icon to browse and search for items or…

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