Ethiopia has taken a historic step by partially opening its banking sector to foreign investors. This development, marked by a parliamentary vote on Tuesday, is being hailed as a transformative move aimed at revitalizing the country’s economy, which has faced significant challenges in recent years. According to FanaBC, a government-affiliated media outlet, the new banking […]

Brazilian fintech giant Nubank, renowned as the world’s largest digital bank by market value, has announced a $150 million investment in Tyme Group, a South African digital banking pioneer. This move positions Tyme as one of Africa’s exclusive “unicorns,” with a valuation surpassing $1.5 billion. Alongside the investment from UK fund manager M&G, this development […]

The Nigerian Investment Promotion Commission (NIPC) has announced significant achievements in its mission to position Nigeria as a premier investment destination in Africa. Through strategic partnerships and dedicated investment promotion efforts, the NIPC has secured over $50 million in commitments from global firms across key sectors such as agriculture, manufacturing, ICT, healthcare, and renewable energy. […]

In a landmark development, South Africa and Angola have elevated their structured bilateral relationship from a Joint Commission of Cooperation to a Bi-National Commission (BNC). This strategic move signifies a deepened commitment to cooperation across trade, investment, regional integration, and global diplomacy. The announcement came during Angolan President João Manuel Gonçalves Lourenço’s State Visit to […]

Saudi Arabia’s Zahid Group, through its Gulf Falcon Holding Ltd. and local partner Entsha Ltd., has made a $1.3 billion bid to acquire Barloworld Ltd., a leading South African construction equipment company. The proposed deal values the Johannesburg-based company at approximately 22.8 billion rand, offering 120 rand per share, which represents a 30% premium over […]

A Strategic Partnership to Empower African GrowthThe African Development Bank Group (AfDB) and Italy’s Cassa Depositi e Prestiti (CDP) solidified a partnership to foster sustainable development in Africa. Through the establishment of the Growth and Resilience Platform for Africa (GRAf), the agreement aims to channel investments into critical areas such as food security, small and […]

The African Development Bank Group (AfDB), in collaboration with the Development Bank of Southern Africa (DBSA) and institutional investors such as Academy Securities, Africa50, and Newmarket, has announced the launch of a $2 billion synthetic securitization initiative. This groundbreaking effort aims to unlock critical capital to advance Africa’s development priorities, focusing on areas like climate […]

Prescient Investment Management has taken a significant step in enhancing the Johannesburg Stock Exchange’s (JSE) offerings with the listing of its Prescient Global Income Provider Feeder Actively Managed Exchange-Traded Fund (AMETF). This latest addition underscores the growing interest in exchange-traded funds (ETFs) within South Africa, particularly in the fixed-income sector. The AMETF, trading under the […]

The Italian insurance-financial group SACE and the African Development Bank Group (AfDB) announced a significant collaboration under the “Mattei Plan” on December 5, 2024, during the African Investment Forum in Rabat, Morocco. This agreement is set to bolster economic ties between Italy and Africa, paving the way for transformative projects in critical sectors like education, […]

The 5th Africa Investment Forum (AIF), an annual flagship event spearheaded by the African Development Bank (AfDB) and its partners, commenced in Rabat, Morocco, under the theme “Leveraging Innovative Partnerships for Scale.” Held from December 4-6, 2024, the event underscores Africa’s commitment to economic transformation by mobilizing resources and facilitating high-impact investments across the continent. […]