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In response to shifting consumer demands and technological advancements, Standard Bank South Africa has strategically expanded its physical footprint across the nation. Despite the pervasive trend towards digital banking solutions, the bank has seen a notable increase in branch numbers, from 619 to 652 in 2023, with a further projected growth of over 5% by […]

BURN Manufacturing, a leader in clean cookstove production, has announced a significant investment exceeding $12 million to advance clean cooking initiatives across Africa. The investment, facilitated by Key Carbon Ltd. and backed by Cartesian, aims to address the challenges posed by traditional cooking fuels in Sub-Saharan Africa. With approximately 950 million people in the region […]

Adenia Partners Ltd., a seasoned private equity firm with a keen eye on African opportunities, has sealed its fifth and largest Africa-focused fund to date, raising an impressive $470 million. This substantial investment underscores growing investor confidence in Africa’s potential as a lucrative investment destination. The Adenia Africa Fund, with its diverse investor base including […]

In a strategic move to bolster economic resilience in Africa, The Trade and Development Bank (TDB) has secured a significant funding boost of $100 million from British International Investment (BII), the UK’s development finance division. With assets exceeding $5 billion, TDB has established itself as a key player in financing African trade, sustainable growth, and […]

Ethiopia’s financial landscape is set for a significant transformation with the advent of its Securities Exchange, slated for launch in the third quarter of this year. In anticipation of this milestone, Deloitte, a leading audit and consultancy firm, has secured a noteworthy achievement by obtaining the first securities investment adviser license for operations within the […]

Nestlé, the global food and beverage giant, has announced a significant investment of R2.5 billion ($131 million) over the next five years in its collaboration with Black-owned businesses across eastern and southern Africa. This commitment aims to bolster sustainable procurement practices, facilitate supplier partner development, and promote agro-processing initiatives within its value chain. The decision […]

Dubai Investments Park (DIP) Angola has announced a significant step forward in its development journey through a strategic collaboration with China Harbour Engineering Company Ltd (CHEC) for Phase 1A Infrastructure Development. This partnership marks a pivotal moment in the creation of a modern, 2,000-hectare mixed-use residential, commercial, and industrial hub in Angola, Africa. CHEC, a […]

Africa Finance Corporation (AFC) has announced the successful closure of a significant syndicated loan facility worth $1.16 billion. Initially set at $1 billion, the offering saw an impressive oversubscription rate of 49%, reflecting strong investor interest in AFC’s mission to address Africa’s infrastructure deficit. The increased facility size underscores AFC’s commitment to accelerating sustainable solutions […]

Egypt’s telecommunications powerhouse, Telecom Egypt, along with the Information Technology Industry Development Agency (ITIDA), have forged a significant partnership with India’s esteemed network firm, TEJAS, signaling a pivotal moment in cross-border cooperation in telecommunications and technology. The memorandum of understanding (MoU), unveiled by the Ministry of Communications and Information Technology, underscores TEJAS’ commitment to manufacturing […]

Telkom South Africa has announced its decision to sell its masts and towers business, currently operating under Swiftnet, for an enterprise value of ZAR 6.75 billion. This strategic move aligns with Telkom’s goal of optimizing its financial position and focusing on core operations by shedding non-core assets. The acquisition will be led by Towerco Bidco […]