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In a bid to bolster innovation and entrepreneurship across the African continent, Black Ostrich Ventures, a prominent venture capital firm based in Los Angeles, has unveiled a new pre-seed and seed-stage fund worth $20 million. The fund is specifically dedicated to supporting startups in the fields of cleantech, agtech, and edtech. In an official statement […]

In a groundbreaking announcement today, the United States Agency for International Development (USAID) has unveiled plans to invest $35 million in new initiatives aimed at bolstering climate resilience and sustainable economic growth across Africa. Pending the availability of funds, these projects mark a significant commitment by the U.S. government to address climate change challenges on […]

The Africa Development Bank (AfDB), in collaboration with the Global Center on Adaptation (GCA), has unveiled a substantial commitment of Sh145.5 billion ($1 billion) aimed at supporting youth-led startups across the continent. This initiative represents a vital step in the ongoing battle against climate change. AfDB shared the news on its social media platform, X […]

The United Kingdom has declared a landmark investment of £49 million in climate change projects across Africa, according to an official statement released by Ndidiamaka Eze, Senior Press and Public Affairs Officer of the Foreign Commonwealth and Development Office. The announcement of this substantial funding commitment is set to take place at the inaugural Africa […]

CRDB Bank achieved a significant milestone on Thursday as it received approval from the Capital Markets and Securities Authority (CMSA) to launch the first-ever multicurrency green bond in Tanzania, making it the largest issuance of its kind in Sub-Saharan Africa. This corporate bond, valued at a whopping 300 million US dollars (equivalent to 780 billion […]

Airtel Uganda Limited has unveiled its strategic move to launch an Initial Public Offering (IPO) involving 8 billion existing ordinary shares, equating to a 20% stake in the company. The IPO, which was officially initiated on August 30, 2023, is set to conclude on October 13, with the primary objective of garnering a substantial capital […]

In a shocking turn of events, Gabon, a Central African nation, experienced a significant plunge in its dollar bonds following a military coup that unfolded on Wednesday. This rapid decline marked the most substantial daily drop since the peak of the COVID-19 pandemic, sending reverberations across financial markets. The coup transpired only weeks after Gabon […]

In a decisive move, Vedanta Resources Ltd. has committed to erasing a lingering debt of $250 million owed to its Zambian suppliers. The resolution hinges on Vedanta’s successful repossession of copper mines seized by Zambia’s government over four years ago. The Konkola Copper Mines, taken under provisional liquidation during former President Edgar Lungu’s term in […]

In a groundbreaking move, the European Union (EU) is actively seeking opportunities in Africa to bolster clean jet fuel initiatives through its Global Gateway infrastructure fund. This strategic move aligns with the projected surge in demand for eco-friendly air travel solutions. Underlining its commitment, the EU has earmarked half of its colossal 300 billion euro […]

Dayo Obisan, the executive commissioner responsible for operations at the Securities Exchange Commission (SEC), revealed that unclaimed dividends in Nigeria have reached a staggering ₦190 billion. Speaking at the post Capital Market Committee (CMC) press briefing held on Friday, Obisan highlighted the alarming amount of unclaimed dividends within the country’s financial landscape. The recent CMC […]