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In a significant move towards fostering a deeper global alliance, the United States has announced a substantial investment of $600 million in private investments and infrastructure development in Africa. This announcement was made by David Greene, the Chargé d’Affaires of the U.S. Embassy in Nigeria, during an interview with the News Agency of Nigeria (NAN) […]

In a significant stride towards fostering digital payments in South Africa, Mastercard, a global titan in payment services, has successfully finalized the establishment of advanced technological infrastructure within the country. This strategic investment is anticipated to streamline local transaction processing, revolutionize the payments landscape, and seamlessly align with the Vision 2025 digital transformation agenda outlined […]

In a strategic move to bolster the growth of innovative startups in the climate, mobility, energy, and agricultural sectors, EchoVC has officially launched the EchoVC Eco Pilot Fund I, a substantial $2.5 million fund dedicated to providing crucial support to early-stage ventures. Eghosa Omoigui, Managing Partner at EchoVC, shared insights into the fund’s objectives, emphasizing […]

The Ghanaian government successfully garnered GH₵4.977 billion in its most recent treasury bill auction on November 24, 2023, despite receiving bids totaling GH₵5.008 billion. The auction results, released by the Bank of Ghana, revealed persistent high interest rates, with an average of 31.5% across the various debt instruments. In the latest auction, bids for the […]

In a bid to address a fiscal shortfall of $2.6 billion for the current fiscal year, South Africa conducted its second Islamic bond sale on Wednesday, marking a pivotal move as the government accelerates efforts to secure funding. The auction, which witnessed robust investor interest, saw total orders reaching 35.5 billion rand ($1.9 billion), with […]

In a significant milestone for the African fintech landscape, FrontEdge, a Nigerian trade finance startup, has successfully raised a substantial $10 million in a combination of debt and equity funding. The company, founded in 2021 by Harvard MBA graduate Moni Alli, specializes in facilitating cross-border trades for small and medium-sized enterprises (SMEs) across Africa. According […]

The Board of Directors of the African Development Bank Group has given the green light to a $10 million equity investment in Dhamana Guarantee Company Limited. This move aims to bolster the utilization of capital markets as an alternative avenue for long-term funding in East Africa’s infrastructure and the real sector. Dhamana Guarantee Company will […]

In a concerning economic development, Nigeria’s headline inflation rate climbed to 27.33% in October 2023, marking a significant 0.61% increase from the previous month’s figure of 26.72%. This represents a noteworthy 6.24% surge compared to October 2022 when the inflation rate stood at 21.09%. The impact of such inflation on the stock market and penny […]

The German government announced on Monday its commitment to invest €4 billion ($4.37 billion) in African green energy projects by 2030. Chancellor Olaf Scholz emphasized the need for African countries to derive greater benefits from their rich natural resources. The announcement came during a news conference at the G20 Compact with Africa summit in Berlin, […]

In a strategic move to broaden its secondary listings framework, the Johannesburg Stock Exchange (JSE) has opened its doors to companies primarily listed on the Hong Kong Exchanges and Clearing Ltd (HKEX). This expansion allows HKEX-listed companies to pursue secondary listings on the JSE and qualify for a streamlined fast-track listing process. The newly introduced […]