In a bold move aimed at revitalizing South Africa’s ailing transportation sector, the African Development Bank (AfDB) has approved a $1 billion loan to Transnet. This substantial financial injection is more than just a lifeline; it represents a pivotal moment for South Africa’s economic prospects. However, the path to recovery is fraught with challenges that […]

In an ambitious move to boost infrastructure and improve living standards, the Kano State Government has approved a whopping N29 billion ($17.9 million) for various capital projects. This substantial investment reflects the government’s determination to drive socio-economic development and improve the quality of life for its residents. Governor Yusuf’s Bold Vision for Kano Governor Abba […]

Innovate Africa has just launched a $2.5 million angel investment fund aimed at supporting early-stage startups. This initiative is all about helping entrepreneurs with innovative ideas tackle big issues like insecurity, unemployment, and poverty through technology. Backing New Entrepreneurs Innovate Africa plans to support up to 20 startups in its first year, offering an average […]

Tanzania is making strides to attract more foreign investments by proposing important legal changes aimed at helping Tanzanians living abroad start businesses back home. The proposed Miscellaneous Amendments Bill 2024 would give special status to Tanzanians abroad, allowing them to invest in key sectors like agriculture, manufacturing, and services. Currently, only Tanzanian citizens can own […]

Located strategically on the West Africa Transform Margin, Liberia highlighted its robust petroleum systems, backed by extensive seismic data in the Liberia and Harper basins. Logan drew comparisons with successful ventures in Ghana’s Jubilee field and discoveries in Guyana, emphasizing Liberia’s readiness to tap into significant reserves. “In recent months, there’s been growing interest from […]

The United Kingdom has decided to stop its plan to deport asylum seekers to Rwanda, marking a significant change in policy and ending a scheme that faced strong criticism for its perceived harshness. Rwanda’s government responded for the first time, acknowledging the UK’s decision to end the deportation program. They emphasized that the deal, initiated […]

Six exciting African tech startups have been chosen as finalists for the inaugural “Meet the Tôshikas” programme. This initiative, crafted by the United Nations Development Programme (UNDP), Japan’s Ministry of Economy, Trade and Industry (METI), and Double Feather Partners, aims to deepen connections between Japanese investors and African startup scenes while preparing these startups for […]

Private equity investments in Nigeria experienced a remarkable surge of 321.8% in the first quarter of 2024, propelled predominantly by significant transactions in the energy and educational technology (edtech) sectors. According to DealMakers Africa, these investments totaled $2.59 billion, a substantial increase from $614 million in the same period last year and surpassing the $1.76 […]

Zedcrest, a prominent player in Nigeria’s debt and equity capital markets, has completed the acquisition of RMB Nigeria Stockbrokers in a transaction valued between ₦400 million and ₦420 million. This strategic move marks a significant expansion for Zedcrest within Nigeria’s burgeoning equity market. The acquisition comes amidst robust growth in Nigeria’s equity market, which recorded […]

The African Development Bank (AfDB) and the Korea Customs Service (KCS) have solidified their commitment to boosting intra-African trade through a newly signed Aide Memoire on Facilitation of Customs Reforms and Modernisation. This collaboration, marked by a virtual signing ceremony attended by Mr. Solomon Quaynor, Vice President of AfDB for Private Sector, Infrastructure & Industrialisation, […]