South African private equity firm Harith General Partners has confirmed its acquisition of a substantial 46% stake in its larger counterpart, Mergence Investment Managers. The deal is set to facilitate the pooling of their formidable combined assets, totaling a whopping 59 billion South African rand, equivalent to $3.1 billion, to support crucial infrastructure projects and […]

Africa’s longstanding early-stage investment leader, Baobab Network, is poised to significantly amplify its dedication to the African continent. The commitment involves investing in a staggering 1000 African tech companies over the next decade, accompanied by a substantial increase in their funding threshold, doubling the ticket size from $50,000 to an impressive $100,000 for recipient companies. […]

Startups across the Middle East and North Africa (MENA) region have experienced a substantial contraction in investment funding and deals during the month of September, according to the latest report from Wamda. Wamda’s monthly investment report reveals that in September, a mere $36 million was raised across 36 deals, marking a staggering 64 percent month-on-month […]

Moody’s Investors Service has downgraded Egypt’s credit score due to what the rating firm has termed “increasingly constrained” policy options to rebalance the nation’s economy without exacerbating social risks. Moody’s has lowered its assessment of Egypt’s sovereign debt by one notch to Caa1, following a review initiated back in May, as confirmed in a statement […]

The Development Bank of Rwanda (BRD) PLC has initiated the issuance of its inaugural sustainability-linked bond on the Kigali Stock Exchange. This historic bond issuance, a first for a national development bank worldwide, seeks to raise an impressive Rwf30 billion (approximately $24.8 million) dedicated to supporting the bank’s environmental, social, and governance (ESG) programs in […]

Zambia’s official creditor committee is on the verge of signing a crucial memorandum of understanding (MoU) aimed at restructuring the nation’s $6.3 billion debt, with the agreement expected to be finalized before the conclusion of the International Monetary Fund’s (IMF) annual meeting next week. Sources familiar with the matter have disclosed this development. This marks […]

In a recent report released by the European Investment Bank, it has been revealed that Africa’s private investment faced a 3% decline, totaling $6.3 billion in 2022. This setback is primarily attributed to global risk aversion, which significantly impacted private equity and venture capital fundraising activities across the continent. Remarkably, this marks the lowest fundraising […]

In a remarkable display of financial strength, Vodacom Tanzania has revealed its intention to distribute a substantial payout of 22.3 billion Tanzanian Shillings (TZS) to its equity shareholders for the financial period concluding in March this year. The announcement was made by Vodacom Tanzania’s Chairman, Retired Judge Thomas Mihayo, during a press briefing following the […]

In a significant financial development, the Egyptian Exchange (EGX) commenced trading treasury bills (T-Bills) on the secondary market, as announced in a press release. On its inaugural day, the secondary market for T-Bills saw robust activity, with a total trading value reaching EGP 33.8 billion ($1.1 billion) generated from 109 transactions. This milestone achievement is […]

The Johannesburg Stock Exchange (JSE) has just unveiled an exciting development in the investment landscape. In a major announcement, JSE has introduced six new Actively Managed Certificates (AMCs) that grant investors access to both local and offshore equity strategies. Notably, Unum Capital’s Small and Mid-Cap AMCs have taken center stage in this launch, providing investors […]