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July 26th 2023 In a significant turning point for the embattled retail giant Steinhoff, the company’s shareholders have cast their votes in favor of dissolving the company and delisting it from the Johannesburg and Frankfurt stock exchanges. The decision was reached during an extraordinary general meeting held in Amsterdam, where around 99% of registered shareholders […]

July 27, 2023 South Africa has taken a significant step towards addressing its crippling energy crisis with the launch of the Energy One-Stop Shop (EOSS) and the Energy Resilience Fund (ERF). These initiatives, introduced by Trade, Industry, and Competition Minister Ebrahim Patel, aim to streamline the regulatory process for renewable energy project development and attract […]

July 18, 2023 In December, the Democratic Republic of the Congo (DRC) signed a 25-year contract with a United Arab Emirates (UAE) firm regarding export rights for ores mined by independent artisans. However, more recent developments reveal that the UAE has entered into a significant agreement with the DRC. The Congolese presidency announced that a […]

July 24, 2023 In a significant stride towards advancing healthcare accessibility and innovation in African low-middle-income communities, AAIC Investment and OurCrowd, Israel’s most active venture investor, have joined forces by signing a momentous Memorandum of Understanding (MOU). The collaboration is made on behalf of the Global Health Equity Fund (GHEF), a groundbreaking financial-first impact venture […]

July 25, 2023 The Private Infrastructure Development Group’s Emerging Africa Infrastructure Fund (EAIF) has provided a €35 million senior loan to kickstart the development of a groundbreaking 46 MW biomass power plant in Ayebo, Côte D’Ivoire. Lead arranger Proparco, a subsidiary of the French Development Agency, had earlier committed €90 million to the project. Additionally, […]

July 20, 2023 The African Development Fund (ADF) has approved the establishment of a Youth Entrepreneurship Investment Bank (YEIB) in Liberia to unleash the business potential of young Liberians. Approximately $16 million has been allocated to fund this strategic initiative, which aims to support youth-led micro, small, and medium enterprises in Liberia’s agribusiness and allied […]

June 19, 2023 The African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have recently entered into a Memorandum of Understanding (MoU) to foster closer collaboration and drive financial market development and integration on the African continent. In a joint statement issued on Wednesday, the two organizations emphasized that the […]

July 21, 2023 In a remarkable move to bolster economic growth and tackle poverty in Ghana, the Norwegian Investment Fund for Developing Countries (Norfund) has recently injected a substantial investment of $10.5 million into Miniplast, a prominent Ghanaian manufacturing company. With an impressive investment portfolio of approximately $3.1 billion in Sub-Saharan Africa, Norfund has taken […]

July 14 2023 The Africa Prize For Engineering competition witnessed the emergence of joint winners. Anatoli Kirigwajjo from Uganda and Edmund Wessels from South Africa achieved a remarkable tie for first place as they showcased their groundbreaking innovations, YUNGA and FlexiGyn, before a panel of esteemed judges. This momentous occasion led to both engineers being […]

July 13 2023 In recent years, Zimbabwe has been facing severe economic challenges, including hyperinflation and a shortage of foreign currency. To address these issues, the Reserve Bank of Zimbabwe (RBZ) has embarked on a project to introduce a digital currency backed by gold. This move aims to provide a stable and secure means of […]