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South Africa is adjusting its financial strategies to address complex economic shifts, both domestically and globally, by holding weekly auctions for inflation-linked bonds. This step forms part of a broader debt management approach intended to stabilize the national economy, especially as the rand remains relatively steady despite significant changes in both the global economy and […]

African venture capital firm Janngo Capital has achieved a significant milestone, successfully closing its second fund at €73 million (approximately $78 million). This fund will enable the firm to invest in promising African startups, driving economic growth and technological advancement on the continent. Janngo Capital, known for supporting category-defining startups, plans to grow its portfolio […]

Tech giant Google has pledged an additional US$5.8 million in Google.org funding to support artificial intelligence (AI) and cybersecurity training initiatives across Nigeria, Kenya, and South Africa. This commitment highlights Google’s focus on fostering digital skill development across Africa, building on its prior $20 million investment dedicated to the continent’s growing tech ecosystem. Expanding Africa’s […]

The Ethiopian government, led by Prime Minister Abiy Ahmed, has introduced new regulations tightening controls on foreign investors looking to repatriate earnings. The latest directives from the National Bank of Ethiopia (NBE) aim to regulate the outflow of foreign currency and stabilize the country’s foreign exchange reserves, which have been severely impacted by economic pressures, […]

ACWA Power, a global leader in water desalination and a pioneer in green energy, has reaffirmed its commitment to driving Africa’s renewable energy growth with its latest milestone in South Africa. The company announced that its Redstone Concentrating Solar Power (CSP) plant, located in the Northern Cape province, has successfully reached an operational capacity of […]

South Africa-based e-commerce logistics startup Pargo has taken a significant step toward becoming a dominant force in African logistics by expanding into the Egyptian market. The expansion follows a successful $4 million funding round led by 3Capital Ventures, alongside investors such as Endeavor, SAAD Investment Holdings, and UW Ventures. Established in 2014 by co-founders Derk […]

The United States has reinforced its commitment to Zambia by approving a substantial $458 million grant aimed at enhancing Zambia’s agricultural infrastructure and market access. This investment is being made under the US Millennium Challenge Corporation (MCC) and is aligned with the larger regional efforts to develop the Lobito Corridor, a strategic transportation and trade […]

Rwanda is making strides toward becoming a significant player in the global pharmaceutical industry, with its Social Security Board (RSSB) embarking on a third attempt to invest in the sector. This initiative involves deploying pension funds into a high-potential yet uncertain industry, demonstrating Rwanda’s commitment to achieving both economic growth and improved healthcare outcomes. The […]

The long-awaited sale of ExxonMobil’s onshore assets in Nigeria to Seplat Energy has finally received regulatory approval, marking a major milestone in Nigeria’s oil industry. This deal, valued at $1.28 billion, has been under intense scrutiny and awaiting approval for over two years since it was first announced in February 2022. The approval signals the […]

The recent $9 billion investment in six luxurious cruise ships under Nigeria’s IPADA Initiative marks a pivotal moment for Africa’s maritime infrastructure and economic future. Spearheaded by AKL Lumi, Africa’s first digital currency backed by solar energy and gold, this initiative presents enormous potential to transform Africa’s ocean trade, tourism, and financial stability. The project’s […]