Glencore, a leading mining and trading entity, has set its sights on Nigeria’s promising mining landscape. CEO Gary Nagle’s visit to Nigeria’s Minister of Solid Minerals signals the company’s intent to explore investment opportunities, particularly in nickel, cobalt, and zinc. Nigeria, eager to attract foreign investment, is actively courting global players like Glencore. Minister Dele […]

TLcom Capital, a prominent Africa-focused venture capital firm, recently closed its TIDE Africa Fund II, securing $154 million in funding. The fund, oversubscribed and supported by a diverse group of investors including the European Investment Bank (EIB), Allianz, DEG Impact’s AfricaGrow, Visa Foundation, and Bertelsmann, underscores growing confidence in Africa’s tech potential. Expanding its mandate […]

Madica, an African-focused pre-seed investment program, has disclosed its initial investments in three promising African startups: Kola Market, GoBEBA, and NewForm Foods. This news arrives at a time when funding for African startups experienced a decline, dropping from $6.5 billion in 2022 to $3.5 billion in 2023. The selected startups, each granted up to $200,000 […]

Africa Tech Summit (ATS) London is gearing up for its eighth edition, poised to unite key players in the tech industry at the prestigious London Stock Exchange on June 7th. This summit, renowned for fostering business and investment opportunities across Africa, serves as a pivotal platform for collaboration and growth. Central to the ATS London […]

Volkswagen Group Africa (VWA) has confirmed a substantial R6 billion investment in its Kariega assembly plant, signaling a firm commitment to its African strategy. Despite past speculation, this move underscores VWA’s determination to strengthen its presence in the region. The investment will facilitate the assembly of a new compact sports utility vehicle (SUV) alongside existing […]

In a landmark move poised to reshape Africa’s retail landscape, Nigerian retail-tech trailblazer OmniRetail has commenced its Series A fundraising drive with a significant injection from Goodwell Investments, a renowned impact investor championing transformative ventures across emerging markets. Since its inception in 2019, OmniRetail has carved a niche as a B2B enablement powerhouse, spearheading the […]

Trustco Group Holdings, a prominent Namibian investment firm, has solidified a strategic partnership with Riskowitz Value Fund (RVF), a United States-based entity, securing a substantial investment totaling $100 million. Under the six-month agreement, Trustco aims to leverage RVF’s extensive market expertise to explore lucrative investment opportunities both within Namibia and internationally. Quinton Zandré van Rooyen, […]

During the LEAP 2024 event held in Riyadh, AfriLabs and the Ministry of Investment of Saudi Arabia (MISA) solidified a significant partnership through the signing of a Memorandum of Understanding (MOU). This collaboration aims to foster innovation and investment cooperation between Africa and Saudi Arabia’s tech and innovation sectors. Established in 2011, AfriLabs has been […]

Uganda has officially entered the Islamic banking sphere with the launch of Salaam Bank in Kampala. Salaam Bank, a subsidiary of the Djibouti-based institution of the same name, commenced operations last month following the Ugandan government’s enactment of legislation facilitating Sharia-compliant financial services. President Yoweri Museveni inaugurated Salaam Bank, marking a significant milestone after years […]

In response to South Africa’s ongoing power crisis, MTN, Africa’s largest mobile phone group, has announced a strategic investment plan totaling R1.9 billion ($101 million) by mid-year. The investment will focus on enhancing infrastructure such as generators, batteries, and renewable energy sources to address the persistent threat of power blackouts, locally known as “load shedding.” […]