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In a major push to close Africa’s energy access gap, a coalition of multilateral lenders and global development finance institutions has pledged over $50 billion towards the Mission300 project. The initiative, led by the African Development Bank (AfDB) and the World Bank, aims to connect at least 300 million Africans to electricity by 2030, effectively […]

The African private capital market witnessed remarkable growth in 2024, with disclosed deal values reaching a staggering $10.1 billion, marking a significant increase from the $6.7 billion recorded in 2023. According to the 2024 Private Capital in Africa Activity Report by Stears, this surge came despite a lower disclosure rate of 46 percent compared to […]

The Federal Government of Nigeria has successfully secured a $1.1 billion loan from the African Development Bank (AfDB) to enhance electricity access across the country, aiming to provide power to at least 5 million people by the end of 2026. This financial agreement represents a significant step toward addressing Nigeria’s persistent energy deficit and advancing […]

In a landmark development for African rail logistics, Traxtion, one of the largest private freight rail companies on the continent, has officially expanded its operations into Angola by securing a new contract with the concessionaire of the Lobito Rail Corridor. This move strengthens the company’s footprint across nine African countries and marks a significant step […]

In a landmark move to bolster space cooperation, the European Commission has officially signed the Africa-EU Space Partnership Programme, a EUR 100 million initiative aimed at strengthening space collaboration between Europe and Africa. This significant milestone, the result of years of dedicated partnership, stands as a flagship component of the EU’s Global Gateway strategy, reinforcing […]

Introduction In a significant move aimed at tackling energy poverty across Africa, The Rockefeller Foundation has announced an additional investment of US$15.9 million to support the ambitious Mission 300 initiative, which seeks to provide electricity access to 300 million Africans by 2030. This announcement was made during the Mission 300 Africa Energy Summit, held in […]

A Landmark Initiative for Africa’s Energy Future The African Guarantee Fund (AGF) has announced the launch of its Mission 300 Local Currency Guarantee Facility, an ambitious initiative aimed at mobilizing US$5 billion to finance small and medium-sized enterprises (SMEs) in Africa’s Distributed Renewable Energy (DRE) sector. This facility marks a significant milestone in addressing Africa’s […]

Naked, a South African insurtech startup revolutionizing the insurance industry through artificial intelligence (AI), has raised R700 million ($38 million) in its latest Series B2 funding round. The funding, led by global impact investor BlueOrchard, represents the largest single investment in the African insurtech sector to date and underscores the rapid evolution of the insurance […]

In a move designed to bolster operational efficiency and curb fraudulent activities, banks across Nigeria have commenced enforcement of new withdrawal limits for Point-of-Sale (PoS) terminals. The directive, issued by the Central Bank of Nigeria (CBN) on December 17, 2024, sets daily and weekly withdrawal caps at N100,000 and N500,000, respectively. This policy marks a […]

Moniepoint Inc., Nigeria’s leading business payments and banking services platform, has received a strategic investment from Visa, the global leader in digital payments. This investment not only solidifies Moniepoint’s position as a major player in the African fintech landscape but also highlights Visa’s commitment to advancing financial inclusion across the continent. Founded in 2015 by […]