In a landmark development for African rail logistics, Traxtion, one of the largest private freight rail companies on the continent, has officially expanded its operations into Angola by securing a new contract with the concessionaire of the Lobito Rail Corridor. This move strengthens the company’s footprint across nine African countries and marks a significant step […]

In a landmark move to bolster space cooperation, the European Commission has officially signed the Africa-EU Space Partnership Programme, a EUR 100 million initiative aimed at strengthening space collaboration between Europe and Africa. This significant milestone, the result of years of dedicated partnership, stands as a flagship component of the EU’s Global Gateway strategy, reinforcing […]

Introduction In a significant move aimed at tackling energy poverty across Africa, The Rockefeller Foundation has announced an additional investment of US$15.9 million to support the ambitious Mission 300 initiative, which seeks to provide electricity access to 300 million Africans by 2030. This announcement was made during the Mission 300 Africa Energy Summit, held in […]

A Landmark Initiative for Africa’s Energy Future The African Guarantee Fund (AGF) has announced the launch of its Mission 300 Local Currency Guarantee Facility, an ambitious initiative aimed at mobilizing US$5 billion to finance small and medium-sized enterprises (SMEs) in Africa’s Distributed Renewable Energy (DRE) sector. This facility marks a significant milestone in addressing Africa’s […]

Naked, a South African insurtech startup revolutionizing the insurance industry through artificial intelligence (AI), has raised R700 million ($38 million) in its latest Series B2 funding round. The funding, led by global impact investor BlueOrchard, represents the largest single investment in the African insurtech sector to date and underscores the rapid evolution of the insurance […]

In a move designed to bolster operational efficiency and curb fraudulent activities, banks across Nigeria have commenced enforcement of new withdrawal limits for Point-of-Sale (PoS) terminals. The directive, issued by the Central Bank of Nigeria (CBN) on December 17, 2024, sets daily and weekly withdrawal caps at N100,000 and N500,000, respectively. This policy marks a […]

Moniepoint Inc., Nigeria’s leading business payments and banking services platform, has received a strategic investment from Visa, the global leader in digital payments. This investment not only solidifies Moniepoint’s position as a major player in the African fintech landscape but also highlights Visa’s commitment to advancing financial inclusion across the continent. Founded in 2015 by […]

Abu Dhabi-listed blockchain conglomerate Phoenix Group has announced its strategic entry into the African market through an 80-megawatt (MW) power purchase agreement (PPA) with Ethiopian Electric Power (EEP). This milestone move signals Phoenix Group’s commitment to global diversification and underscores Africa’s growing potential as a hub for cryptocurrency mining operations. The deal, facilitated in partnership […]

Nigeria has cemented its position as Africa’s leading destination for upstream oil and gas investment, according to research from market intelligence firm Wood Mackenzie. In 2024, the country accounted for an impressive three out of four Final Investment Decisions (FIDs) announced by global oil and gas majors, reflecting a significant milestone in its efforts to […]

Moroccan startups wrapped up 2024 on a high note, securing $70 million in funding and further establishing the country as a burgeoning hub of innovation in Africa. The achievements reflect the growing prominence of Morocco within the African startup ecosystem, even as the continent experiences broader funding challenges. Breaking Down the Rankings: Morocco and the […]