Ethiopia's Thriving Investment Renaissance.
Ethiopia is experiencing a resurgence in investment activities, with significant progress in economic growth, infrastructure development, and foreign direct investment (FDI). An impressive turnaround For years, Ethiopia has faced wars, economic upheaval, and uncertainty. Despite these challenges, it is now one of Africa's fastest-growing economies. * Last year the
South Africa and Rwanda Compete to Bring Formula 1 Racing Back to Africa
South Africa and Rwanda are making significant strides in bringing Formula 1 racing back to the streets of Africa, a continent that has not hosted a race since 1993. Why it matters: The last Formula 1 event in Africa was in 1993, when Alain Prost secured his final championship title.
The Surge of Smartphone Adoption in Africa: A Catalyst for Financial Inclusion
Smartphone adoption in Africa is projected to grow significantly, transforming the continent's financial landscape. Why It Matters: Increased affordability is expected to lead to smartphone usage accounting for 88% of all connections in Sub-Saharan Africa by 2030, compared to a global average of 92%. Consumer trends are anticipated
Cameroonian Government to Acquire Société Générale Cameroon for $191.6 million
The Cameroon government plans to acquire a 58.08% stake in Société Générale Cameroon for $191.6 million. This strategic acquisition comes as Société Générale is divesting its assets across Africa, creating opportunities for Pan-African banks to strengthen their presence through mergers and acquisitions. Recent transactions related to Société Générale&
Nigeria Targets Private Capital Investors with $32 billion Electricity Reform.
Nigeria is implementing an ambitious electricity sector reform to make the industry more attractive to private capital investors. Why it matters: Poor tariff policies and ongoing challenges such as liquidity problems, substandard electricity supply, insufficient distribution infrastructure, and frequent power outages have made access to electricity in Nigeria a scarce
How Patient Capital is Boosting Africa’s Renewable Energy Drive.
Africa’s First Fund Returners
Qui Capital, an early-stage investor in Africa, has achieved a rare feat by returning its $4 million inaugural fund to its limited partners after successfully selling some shares in Moniepoint, an African fintech unicorn. Why does this matter: In the global investment community, it is rare for first-time funds to
African-born Moove Goes Global with Brazil’s Kovi Acquisition
Moove, the African mobility fintech company offering revenue-based vehicle financing, ride-hailing and delivery apps across Africa, has acquired Kovi, an urban mobility startup based in São Paulo. Why does this matter: This acquisition aligns with Moove’s ambitious plan to expand into high-growth markets beyond Africa following its Series B
This Week in Africa Finance
Your weekly essential briefing on African finance. Sign up for our free weekly newsletter to access exclusive insights designed for Africa-focused finance professionals, business leaders, international institutions, and policymakers. Good day. In today's email : The Demand for an African Credit Rating Agency, Guan Chong Berhad Acquires 25% of
The Demand for an Africa Credit Rating Agency.
The African Development Bank, Prosper Africa (a U.S. presidential initiative), and the United States Department of the Treasury have agreed to create an African online credit rating data platform with a $700,000 grant. Why does this matter : Several African countries have recently been accessing international credit markets to
Guan Chong Berhad Acquires 25% of Transcao Côte d’Ivoire for $28.9m.
Guan Chong Berhad (GCB), a Malaysia-based cocoa manufacturer and the fourth-largest cocoa grinder globally, is poised to acquire a 25% stake in Transcao Côte d’Ivoire (Transcao CI), a Côte d'Ivoire -based cocoa manufacturer, for a sum of US$28.9 million. Why does this matter: Côte d&
The $71.6m African Cultural Phenomenon
Lagos, Nigeria's economic and entertainment capital, has set an example for many African cities to boost their tourism industry, as demonstrated by the recently concluded Detty December. Why does this matter: Despite high inflation and a soaring cost of living, the month-long event generated $71 million, which underscores