HSBC Egypt has announced the launch of a new fund valued at EGP 1.5 billion (approximately $31.5 million) to support small and medium-sized enterprises (SMEs) in the fintech sector. This initiative is part of HSBC’s broader strategy to foster technological innovation and economic growth in Egypt. The fund, expected to be operational by the third […]

The African Development Bank (AfDB) is calling for a $25 billion replenishment of its African Development Fund and more favorable lending terms to help the continent recover from the economic impacts of the COVID-19 pandemic and global interest rate hikes. AfDB President Akinwumi Adesina highlighted the urgent need for international support to avoid what he […]

Africa, despite its pressing energy needs, is set to receive a mere 2% of the $2 trillion global clean energy investment projected for 2024, a recent report by the International Energy Association (IEA) reveals. With clean energy investments worldwide expected to reach $2 trillion, Africa’s share amounts to approximately $40 billion, a fraction of the […]

In a significant development for the African media industry, Sub-Saharan pay-TV leader Multichoice has endorsed a US$2.9 billion takeover offer from French media giant Canal+. This acquisition, expected to be finalized by April 2025 pending regulatory approvals, marks a pivotal shift in the continent’s broadcasting landscape. Strategic Consolidation Canal+, owned by Vivendi, already holds a […]

At the 2024 Korea–Africa Business Summit, Samsung stands out as a prominent player, joining forces with government officials, business leaders, and economic experts from 48 countries to address key trade and investment agendas. Focused on themes like industrial development, trade expansion, and climate action, the summit provides an ideal platform for Samsung to showcase its […]

OneClickDrive, a leading car rental marketplace based in Dubai, has announced its expansion into Morocco, marking its first entry into the African market. This strategic move aims to tap into the growing demand for car rentals in the region, particularly among tourists drawn to Morocco’s rich cultural heritage and scenic landscapes. Since its inception, OneClickDrive […]

Absa Group, a leading financial services provider in Africa, has inaugurated its subsidiary office in Beijing, China, as part of its global expansion strategy. The move aims to forge stronger ties between Chinese corporations and African markets. CEO of Absa China, Klaus-Dieter Kaempfer, outlined the bank’s objective to nurture relationships with key stakeholders, including state-owned […]

The European Investment Bank’s (EIB) global arm has injected €25 million into Amethis Fund III, aimed at fostering sustainable growth in African businesses. Targeting medium-sized enterprises, the fund focuses on sectors vital to low- and middle-income populations, including healthcare, logistics, manufacturing, and agribusiness. Aligned with the EU’s Global Gateway strategy, the investment seeks to address […]

At the Annual General Meeting (AGM) of the African Development Bank (AfDB) in Nairobi, experts convened to discuss the pressing need for increased private sector involvement in financing tertiary education across Africa. Collaborating with the Kenyan government, the African Union Commission, and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the dialogue emphasized the importance […]

China’s economic involvement in Africa is witnessing a notable resurgence, particularly in the realm of mineral investments. Last year, Chinese investment in African minerals surged by 114%, reflecting a strategic focus on resources crucial for global energy needs and China’s domestic economic priorities. This surge in investment includes significant acquisitions, such as China’s MMG Ltd’s […]