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Inspiring Africa's Sustainable Business Growth
AFRICA – Uber, a ride hailing firm has appointed Kagiso Khaole as its new general manager for the Sub-Saharan Africa (SSA) region. He takes over from Frans Hiemstra, who has been moved to the role of regional general manager for Uber Middle East and Africa. Khaole joined Uber in 2021, when he led mobility operations across SSA, and previously worked…
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NIGERIA – Oui Capital, an Africa-focused venture capital firm based in Lagos and Massachusetts, has announced the completion of the first close of its US$30 million second fund, Oui Capital Mentors Fund II, as part of its efforts to strengthen its footprint on the continent. Angur Nagpal’s Vibe Capital, D Global Ventures, Boston-based One Way Ventures, and Ground Squirrel Ventures…
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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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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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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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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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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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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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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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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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