Powerhive Inc raises US$9.3m to expand solar power connectivity in Africa

Powerhive Inc raises US$9.3m to expand solar power connectivity in Africa

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KENYA – Powerhive Inc, a micro-grids operator, has raised US$9.3 million (Sh930 million) in its Series B round of funding to enable the firm expand its solar power connectivity. Powerhive chief executive Christopher Hornor said Toyota Tsusho participated in the latest round…

South Africa’s Datatec acquires IT business Mars Technologies

South Africa’s Datatec acquires IT business Mars Technologies

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SOUTH AFRICA – Johannesburg based information and communication firm Datatec Group, through its subsidiary – Logicalis SA – has acquired Mars Technologies, an information technology (IT) services business, for an undisclosed amount. Logicalis SA is a division of the Logicalis Group, the…

Naspers’s largest investor mulls cutting US$17.09bn stake to 16%

Naspers’s largest investor mulls cutting US$17.09bn stake to 16%

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SOUTH AFRICA – South Africa’s Government Employees Pension Fund (GEPF), Naspers’s biggest shareholder is considering to reduce its US$ 17.09 billion (R245bn) stake. According to sources with knowledge of the development, GEPF is being advised by its manager the Public Investment Corporation,…

AfDB and partners launch new fund to boost digital financial inclusion

AfDB and partners launch new fund to boost digital financial inclusion

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GUINEA – The African Development Bank in collaboration with partner organisations has launched the Africa Digital Financial Inclusion Facility (ADFI) to accelerate digital financial transactions across the continent. The fund is supported by the Bill & Melinda Gates Foundation, the Agence Française…