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Inspiring Africa's Sustainable Business Growth
WEST AFRICA – Bboxx, the UK-based power company, has expanded its footprint in Africa by acquiring pay-as-you-go solar company, PEG Africa. The acquisition will transform the continent’s utility sector by making Bboxx and its group of companies the largest network in Africa for utility services and a driving force behind access to goods and services for underserved communities. PEG is…
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WEST AFRICA – International Finance Corporation (IFC), a member of the World Bank, has invested in Uhuru Growth Fund I, a fund managed by Uhuru Investment Partners, a middle-market private equity firm in West Africa. IFC’s support includes an equity investment of up to US$10 million from IFC’s capital and an additional US$10 million from the Blended Finance Facility of…
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WEST AFRICA – IFC has announced a US$91.6 million investment agreement in Wave Mobile Money S.A. (Senegal) and Wave Côte d’Ivoire S.A., two major mobile money service providers in their respective markets, to strengthen financial inclusion and support economic growth in Senegal and Côte d’Ivoire. The funding from the IFC and other investors will allow Wave to expand its operations…
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WEST AFRICA – Constant Ventures, a subsidiary of Constant Group is raising a US$100 million venture capital fund to invest across a range of technology startups with a focus on financial inclusion, education, and healthcare across West Africa. The Investee companies of this fundraising will be based in Nigeria and Ghana at first, as Constant Ventures aims to expand funding…
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KENYA – Kenya’s national carrier Kenya Airways (KQ) has announced that it has inked a one-way interline agreement with regional carrier, Africa World Airlines Limited, to expand its connectivity to Ghana and West Africa. Julius Thairu, Kenya Airways chief commercial and customer officer, said the interline agreement will provide passengers with flight connections from KQ network to various points in…
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WEST AFRICA – ECREEE has partnered with WASCAL to explore the potential of green hydrogen production from the enormous renewable energy sources within the West African region. West Africa holds very good potential for producing green hydrogen and thus provides an opportunity for the region to play a key role in the emerging green hydrogen market according to the green…
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WEST AFRICA – The French Global Environment Facility (FGEF) will allocate nearly US$2.86 million to fund community-based marine and coastal ecosystem resilience projects in six West African countries. The announcement was made at the 10th West African Coastal and Marine Regional Forum, 29 March to 1 April 2022 in Saly Portudal, western Senegal. The FGEF’s new funding materialized by a…
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WEST AFRICA – Digital infrastructure company, Equinix, has announced the completion of a US$320 million acquisition of West African data center and connectivity solutions provider MainOne. The completion of this acquisition augments Equinix’s long-term strategy to become a leading African carrier-neutral digital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Nigeria, Ghana,…
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WEST AFRICA – The African Management Institute (AMI), has launched a new series of francophone learning programmes to support the growth of small enterprises and provide practical business skills development in Senegal and across francophone West Africa. AMI’s launch event was held in Dakar, Senegal in mid-March, with over 50 business leaders, partners and clients in attendance. The pan-African organisation…
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WEST AFRICA – The African Development Bank (AfDB) has signed an MoU with the Commission of the Economic Community of West African States (ECOWAS) for US$3.56 million in grant funding to boost pharmaceutical industries in West Africa. The agreement has been signed in Abuja, to increase local manufacturing of high-quality, safe, effective, and accessible essential medicines, pharmaceuticals, and vaccines in…
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