Shelter Afrique, a prominent Pan-African housing finance institution, has unveiled a strategic partnership with the Islamic Development Bank Institute (IsDBI) aimed at pioneering Islamic Housing Finance Products throughout the African continent. This collaboration comes at a time when several African nations are making remarkable strides in advancing their Islamic finance markets, opening up previously untapped […]

In a bid to catalyze the growth of early-stage African tech startups, Startupbootcamp AfriTech has unveiled OnAfrica, a specialized investor syndicate. OnAfrica is set to play a pivotal role in the African tech ecosystem by offering selected startups funding ranging from $100,000 to $400,000, coupled with invaluable support in the form of mentorship, guidance, and […]

In a bid to alleviate its staggering debt burden, Zimbabwe is strategically employing the proceeds from its platinum exports to settle a $400 million loan extended by the African Export-Import Bank (Afreximbank). This move underscores the nation’s reliance on its mineral wealth to secure lines of credit amid challenges in obtaining loans from international financiers, […]

In a significant move towards fostering a deeper global alliance, the United States has announced a substantial investment of $600 million in private investments and infrastructure development in Africa. This announcement was made by David Greene, the Chargé d’Affaires of the U.S. Embassy in Nigeria, during an interview with the News Agency of Nigeria (NAN) […]

In a significant stride towards fostering digital payments in South Africa, Mastercard, a global titan in payment services, has successfully finalized the establishment of advanced technological infrastructure within the country. This strategic investment is anticipated to streamline local transaction processing, revolutionize the payments landscape, and seamlessly align with the Vision 2025 digital transformation agenda outlined […]

In a strategic move to bolster the growth of innovative startups in the climate, mobility, energy, and agricultural sectors, EchoVC has officially launched the EchoVC Eco Pilot Fund I, a substantial $2.5 million fund dedicated to providing crucial support to early-stage ventures. Eghosa Omoigui, Managing Partner at EchoVC, shared insights into the fund’s objectives, emphasizing […]

The Ghanaian government successfully garnered GH₵4.977 billion in its most recent treasury bill auction on November 24, 2023, despite receiving bids totaling GH₵5.008 billion. The auction results, released by the Bank of Ghana, revealed persistent high interest rates, with an average of 31.5% across the various debt instruments. In the latest auction, bids for the […]

In a bid to address a fiscal shortfall of $2.6 billion for the current fiscal year, South Africa conducted its second Islamic bond sale on Wednesday, marking a pivotal move as the government accelerates efforts to secure funding. The auction, which witnessed robust investor interest, saw total orders reaching 35.5 billion rand ($1.9 billion), with […]

In a significant milestone for the African fintech landscape, FrontEdge, a Nigerian trade finance startup, has successfully raised a substantial $10 million in a combination of debt and equity funding. The company, founded in 2021 by Harvard MBA graduate Moni Alli, specializes in facilitating cross-border trades for small and medium-sized enterprises (SMEs) across Africa. According […]

The Board of Directors of the African Development Bank Group has given the green light to a $10 million equity investment in Dhamana Guarantee Company Limited. This move aims to bolster the utilization of capital markets as an alternative avenue for long-term funding in East Africa’s infrastructure and the real sector. Dhamana Guarantee Company will […]