European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

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KENYA – The European Investment Bank (EIB) has unveiled a US$66.2 million (Kshs6.62 billion) financial package for onward lending to farmers and agro-processors servicing demand-driven contracts in Kenya. Dubbed the Kenya Agriculture Value Chain Facility, the financing program was launched in Nairobi…

French investor Creadev acquires stake in Twiga Foods worth US$5M

French investor Creadev acquires stake in Twiga Foods worth US$5M

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KENYA – Creadev, a French-based investor, has acquired an undisclosed stake worth US$5 million (Sh500 million) at Kenya’s leading online grocery platform, Twiga Foods. Creadev is a global long-term investment firm wholly funded by the Mulliez family. According to a statement announcing…

Sweden’s Norrsken opens East Africa startup fund and hub in Rwanda

Sweden’s Norrsken opens East Africa startup fund and hub in Rwanda

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RWANDA – Norrsken Foundation, a co-working space and investment fund based in Sweden, has opened its tech fund and entrepreneurship hub in Kigali Rwanda to support ventures across the region. The Kigali center is Norrsken’s first launch outside of Sweden and the…

UK firm to acquire Kenyan logistics and oil firm Comarco for US$30m

UK firm to acquire Kenyan logistics and oil firm Comarco for US$30m

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KENYA – Anglo African Agriculture (AAA), a London Stock Exchange-listed company has announced plans to acquire the Kenyan-based privately-owned port and marine logistics group, Comarco Group (“Comarco”) in a deal valued at US$30 million (Ksh3.6 billion). The transaction will give AAA shareholders…

Microsoft expands women-focused cloud accelerator to Kenya, SA

Microsoft expands women-focused cloud accelerator to Kenya, SA

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AFRICA – American technology giant, Microsoft Corporation, has extended the reach of its women-focused cloud accelerator programme to Kenya and South Africa, designed to help women-led companies start and build their businesses through its cloud distribution channels. The programme, which currently covers…